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June 2010
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Headquartered in Miami, FL, Neff Rental, Inc., is a national construction equipment rental company.
GE Capital, Restructuring Finance is co-lender for a $175 million debtor-in-possession credit facility. The loan will be used for working capital needs as the company restructures under Chapter 11. GE Capital Markets served as co-lead arranger.
Read the press announcement.
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Sole Lender • $75 Million • Asset-Based Credit Facility
Headquartered in Mount Airy, NC, Insteel Industries, Inc., is a leading manufacturer of steel wire reinforcing products. GE Capital, Corporate Finance is sole lender for a $75 million asset-based credit facility. The loan replaces an existing credit facility from GE and will be used to fund Insteel’s working capital, capital expenditure, general corporate and growth requirements.
Read the press announcement.
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May 2010
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Co-Lender • $700 Million • Asset-Based Credit Facility
Headquartered in Ann Arbor, MI, Borders is a specialty retailer of books and other educational and entertainment items. GE Capital, Corporate Retail Finance was co-lender on a $700 million asset-based credit facility. The loan will be used to support working capital needs. GE Capital Markets served as co-lead arranger. Read the press announcement
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April 2010
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Lead Arranger • $200 Million • Asset-Based Credit Facility
Founded in 1947, Hingham, MA-based, The Talbots, Inc., is a leading women's apparel retailer. GE Capital, Corporate Retail Finance agented a $200 million asset-based credit facility. The loan will be used to refinance debt, acquire BPW Acquisition Corporation and for ongoing working capital. GE Capital Markets served as sole lead arranger.
Read the press announcement
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Sole Collateral Agent • $109 Million • Cash Flow Plan of Reorganization Credit Facility
Headquartered in Fort Mill, SC, Muzak is a leading provider of music and sensory branding services for businesses. GE Capital, Restructuring Finance is sole collateral agent for a $109 million cash flow plan of reorganization credit facility. The loan supports Muzak's exit from bankruptcy and ongoing working capital needs. GE Capital Markets served as sole lead arranger on a portion of the facility.
Read the press announcement
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Sole Lender • $85 Million •Asset-Backed Term Loan
Founded in 1945, Phoenix, AZ-based U-Haul is North America's largest do-it-yourself moving and storage operator. GE Capital, Corporate Finance served as sole lender for an $85 million asset-backed term loan. The loan will be used to refinance an existing securitization facility.
Read the press announcement
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March 2010
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Co-Collateral Agent • $300 Million • Asset-Based Credit Facility
Based in Romeoville, IL, Kehe Food Distributors is a leading U.S. distributor of natural and specialty food products. GE Capital, Corporate Finance is co-collateral agent for a $300 million asset-based credit facility. The loan will be used to support the company's acquisition strategy.
Read the press announcement
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Co-Lender • $105 Million • Asset-Based Credit Facility
Based in Klamath Falls, OR, JWTR is a timberland owner and operator. GE Capital, Corporate Finance is sole lender for a $50 million asset-backed credit facility, which is part of an overall $105 million facility. GE Capital Markets serves as lead arranger for the incremental $55 million facility. The facility will be used to refinance existing debt.
Read the press announcement
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Based in Dearborn, MI, EP Management Corporation is a diversified holding company of industrial and automotive product manufacturers. GE Capital, Corporate Finance is sole lender for a $70 million cash flow loan. The loan will be used to refinance debt and recapitalize the company.
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February 2010
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Agent • $225 Million • Asset-Based Credit Facility
Based in Portland, Oregon, Evraz Inc. NA operates steel mills and finishing facilities throughout North America producing commodity and specialty steel for service centers, fabricators, railroads, oil and gas producers, construction and other markets. GE Capital, Corporate Finance is agent for a $225 million asset-based credit facility. The loan will be used for working capital and other corporate needs. GE Capital Markets served as joint lead-arranger and sole book runner.
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Sole Lender • $35 Million • Asset-Based Credit Facility
Based in Bronx, NY, Loehmann's offers discounted designer men's and women's fashion apparel and accessories. GE Capital, Corporate Retail Finance served as sole lender for a $35 million asset-based credit facility. The loan will be used for working capital needs.
Read the press announcement.
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December 2009
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Co-Collateral Agent • $625 Million • Asset-Based Credit Facility
Based in York, PA and Milwaukee, WI, The Bon-Ton Stores, Inc., offers brand-name fashion apparel and accessories for women, men and children, as well as cosmetics and home furnishings. GE Capital, Corporate Retail Finance is co-collateral agent for a $625 million loan to refinance existing debt and for working capital needs. GE Capital Markets served as joint lead arranger.
Read the press announcement.
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Administrative Agent • $168 Million • Cash Flow Credit Facility
Based in Portland, OR, Blount International, Inc. is a leading outdoor products manufacturer. GE Capital, Corporate Finance is administrative agent for a $168 million working capital loan that amends and extends an existing facility. GE Capital Markets served as sole lead arranger.
Read the press announcement.
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Sole Lender • $30 Million • Asset-Based Credit Facility
Kansas City, KS-based, Harcros Chemicals Inc. is one of the largest chemical distributors in North America with 28 branches operating. GE Capital, Corporate Finance is sole lender for a $30 million working capital loan to refinance their existing credit facility. The loan may be increased to $35 million, subject to certain conditions.
Read the press announcement.
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November 2009
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Joint-Lead Arranger • $500 Million • Asset-Based Credit Facility
Based in New York, NY, Saks, Inc., offers luxury goods including apparel, shoes, accessories and jewelry. GE Capital, Corporate Retail Finance announced it acted as co-lender for a $500 million asset-based credit facility. The loan will be used for working capital needs and general corporate purposes. GE Capital Markets served as joint lead arranger.
Read the press announcement.
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October 2009
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Co-Collateral Agent • $175 Million • Asset-Based Credit Facility
Based in Lincolnshire, IL, ACCO Brands Corporation designs, develops, manufactures, markets, and distributes traditional and computer-related office products and supplies principally in the United States, United Kingdom, Australia and Canada. GE Capital, Corporate Finance acted as co-collateral agent for a $175 million revolving credit facility. The loan refinances existing credit and securitization facilities and supports the company's ongoing working capital needs. GE Capital Markets served as joint-book runner.
Read the press announcement. |
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Co-Lead Arranger • $200 Million • Asset-Based Credit Facility
Based in Huntington Beach, CA, Quiksilver is an outdoor sports lifestyle company, which designs, produces and distributes a diversified mix of branded apparel, footwear, accessories and related products. GE Capital, Corporate Retail Finance acted as collateral agent on a $200 million asset-based credit facility. The loan will be used for working capital needs. GE Capital Markets served as co-lead arranger.
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September 2009
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Lead Arranger • $200 Million • Asset-Based Credit Facility
Based in New York, Sotheby’s is a leading provider of art auctions, private sales and art-related financing. GE Capital, Corporate Finance led a $200 million asset-based credit facility to Sotheby’s. GE Capital Markets served as lead arranger. The loan will be used for working capital needs.
Read the press announcement.
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Joint-Lead Arranger • $197 Million • As Part of a $242 Million Exit Financing
Based in Atlanta, Georgia, Spectrum Brands, Inc., is a global consumer products company. GE Capital, Corporate Finance led a $197 million revolving credit facility as part of a $242 million plan of reorganization financing. The loan refinances an existing debtor-in-possession facility, and supports Spectrum's exit from bankruptcy and their ongoing working capital needs. GE Capital Markets served as joint-lead arranger on the revolver.
Read the press announcement.
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Co-Lead Arranger • $151 Million • Asset-Based Credit Facility
Based in Rancho Cucamonga, CA, Kumho Tire U.S.A. is the U.S. distributor of South Korea-based Kumho Tire Co., Inc. GE Capital, Corporate Finance is administrative agent for a $151 million asset-based credit facility. GE Capital Markets served as co-lead arranger. The loan will be used for working capital needs.
Read the press announcement.
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August 2009
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Joint-Lead Arranger • $1Billion • Asset-Based Credit Facility
Based Harrisburg, PA, Rite Aid Corporation is the largest drugstore chain on the East Coast and the third largest drugstore chain in the U.S. GE Capital, Corporate Retail Finance committed $290 million to a $1 billion asset-based revolving line of credit. The loan will be used for working capital purposes. GE Capital Markets served as joint lead arranger.
Read the press announcement.
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Co-Lead Arranger • $800 Million • Exit Facility
Based in Montreal, Canada, World Color Press Inc., formerly operating as Quebecor World Inc., is a worldwide leader in commercial printing. The loan will be used to support the company�s exit from bankruptcy protection under both a Plan of Reorganization and a Plan of Arrangement. GE Capital Markets and GE Capital Markets (Canada) Ltd. acted as joint-lead arrangers.
Read the press announcement.
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Co-Lead Arranger • $150 Million • Asset-Based Credit Facility
Based in Smithfield, VA, Smithfield Foods, Inc., is one of the world's largest pork processors and hog producers. GE Capital, Corporate Finance provided a $150 million asset-based loan as part of a $1 billion revolving credit facility. The loan will be used to restructure. GE Capital Markets served as joint-bookrunner
Read the press announcement.
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Sole Lead Arranger • $50 Million • Plan Of Reorganization Credit Facility
Based in Midvale, UT, Sportsman's Warehouse sells equipment, apparel, footwear and accessories for hunting, fishing and camping. GE Capital, Corporate Finance provided a $50 million plan of reorganization credit facility. The loan was used upon the company's recent emergence from Chapter 11 to refinance the $85 million debtor-in-possession financing GE Capital provided the company in March.
Read the press announcement.
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July 2009
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Co-Lead Arranger • $4Billion • Asset-Based Credit Facility
Based in Alberta, The Brick Group Income Fund one of Canada�s largest retailers of furniture, appliances and home electronics. The loan will be used for recapitalization purposes.
Read the press announcement.
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Co-Lead Arranger • $230 Million • Cash Flow Term loan
Based in Reston, Virginia, TNS has been a GE Capital client since 2001. TNS provides networking, data communications, telecommunications, financial transactions services and more to retailers, banks, payment processors and others worldwide. The loan supports the acquisition of the Communication Services Group (CSG) from VeriSign, Inc.
Read the press announcement.
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Co-Lead Arranger • $100 Million • Asset-Based Credit Facility
Based in Azusa, CA, Monrovia Nursery is one of the world's largest producers of container grown plants. The loan will be used for working capital needs. GE Capital Markets served as co-lead arranger.
Read the press announcement.
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Lead Arranger • $75,000,000 • Debtor-in-Possession Credit Facility
Based in Austell, Georgia, Caraustar Industries, Inc., one of North America's largest integrated manufacturers of 100% recycled paperboard and converted paperboard products. The loan will be used for working capital needs as the company restructures under Chapter 11.
Read the press announcement.
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May 2009
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Lead Arranger • C$130,000,000 • Asset-Based Credit Facility
Based in Alberta, The Brick Group Income Fund one of Canada�s largest retailers of furniture, appliances and home electronics. The loan will be used for recapitalization purposes.
Read the press announcement.
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April 2009
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Lead Arranger • $125,000,000 • Debtor-in-Possession Facility
Founded in 1964, BI-LO is a privately held company based in Mauldin, SC. The company operates 215 supermarkets in South Carolina, North Carolina, Georgia and Tennessee. The loan will be used for working capital needs as the company restructures under Chapter 11. GE Capital Markets arranged the transaction. Read the press announcement.
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March 2009
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Lead Arranger • $175,000,000 • Accounts Receivable Securitization Facility
Headquartered in Atlanta, GA, Georgia Gulf Corporation is a leading, integrated North American manufacturer of two chemical lines, chlorovinyls and aromatics, and manufactures vinyl-based building and home improvement products. The company will use the $175,000,000 Accounts Receivable Securitization Facility for working capital needs. Read the press release.
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February 2009
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Lead Arranger • $125,000,000 • Debtor-in-Possession Credit Facility
Founded in 1904 in Fresno, California, Gottschalks is a regional
department store chain offering fashion apparel, cosmetics, shoes,
accessories and home merchandise. The company will use the $125
million debtor-in-possession credit facility for working capital
needs as the company attempts to restructure under Chapter 11.
GE Capital Markets arranged the transaction.
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January 2009
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Looking Back at Done Deals Announced in 2008
Despite unprecedented market turmoil, deals did get done in 2008. From
asset-based and cashflow loans to structured finance, the capital deployed by
GE helped customers in a wide variety of sectors meet their financing needs,
whether for working capital, growth, acquisitions, project finance,
restructurings or turnarounds. Click to view all announced 2008 Done Deals
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December 2008
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Co-Lead Arranger • $400,000,000 • Asset-Based Credit Facility
Based in Greeley, Colorado, JBS USA, Inc. is the second largest beef processor in the U.S. The company is a subsidiary of JBS S.A., the world�s largest beef producer and exporter. JBS USA, Inc. will use the $400 million asset-based credit facility for working capital needs. GE Capital Markets acted as co-lead arranger on the transaction. Read More
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November 2008
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Co-Lead Arranger • $195,000,000 • Cash Flow Credit Facility
Based in Minneapolis, Minn., Bellisio is a major manufacturer of frozen foods. The company is named after the familial home of founder Jeno Paulucci, in Bellisio Solfare, Italy. Bellisio's products are sold throughout the U.S. and worldwide under brands including Michelina's, Lean Gourmet, Budget Gourmet, Howlin' Coyote and Joy of Cooking. The $195 million cash flow credit facility will be used for recapitalization and ongoing working capital needs. Read More
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October 2008
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Sole Lead • $120,000,000 • Asset-Based Credit Facility
Founded in 1957 in Portland Oregon, Columbia Forest Products is employee-owned with manufacturing facilities throughout the U.S. and Canada. Columbia�s decorative interior veneers and panels are used in high-end cabinetry, fine furniture, architectural millwork and commercial fixtures. The $120 million asset-based credit facility will be used to refinance existing debt and for ongoing working capital needs.
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Lead Arranger • $175,000,000 • Plan of Reorganization Credit Facility
Founded in 1953 in Knoxville, Tennessee, Goody�s is a moderately priced apparel retailer providing clothing and accessories for all ages. The company operates 287 stores, primarily within the Southeastern U.S. The loan was used to refinance the company�s debtor-in-possession (DIP) financing upon the company�s emergence from a Chapter 11 bankruptcy. In June, GE Corporate Lending also provided the company with a $175 million DIP credit facility. GE Capital Markets arranged both transactions.
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September 2008
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Sole Lead Arranger • $110,000,000 • Plan of Reorganization Credit Facility
Based in Rochester Hills, MI, DURA Automotive Systems, Inc., is an independent designer and manufacturer of auto parts to
the automotive industry worldwide. Their products include driver control systems, seating control systems, glass systems,
structural door modules and exterior trim systems. The $110 million plan of reorganization credit facility will be used to
complete the company's reorganization as it emerges from bankruptcy. GE Capital Markets arranged the transaction. In 2006,
GE also provided the company with a $115 million debtor-in-possession credit facility to support the company's Chapter 11 filing.
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August 2008
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Lead Arranger • $175,000,000 • Debtor-in-Possession Credit Facility
Founded in 1953 in Knoxville, Tennessee, Goody’s is an apparels retailer providing clothing and accessories
for all ages. The company operates more than 350 stores primarily within the Southeastern U.S. The $175 million
debtor-in-possession credit facility will be used for working capital needs as the company restructures under Chapter 11.
GE Capital Markets arranged the transaction.
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Agent • $112,000,000 • Senior Secured Notes • Project Finance
Founded in 1985 in Conyers, GA, Pratt Industries U.S.A. is one of the country’s largest paper and packaging companies
with manufacturing facilities in 20 states. The $112 million in senior secured notes is being used to fund the development,
construction, and operation of a greenfield recycled containerboard facility by Pratt Paper LA, LLC, a Louisiana-based
subsidiary of Pratt Industries (U.S.A.), Inc. The Pratt Paper LA project is the company’s latest waste-to-energy
containerboard mill being built in Shreveport, LA. Once operational, the mill will use 100 percent recycled fiber input to
produce approximately 360 thousand tons of containerboard per year.
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Agent • $100,000,000 • Plan of Reorganization Credit Facility
Founded in 1957 in Baldwyn, Miss., Hancock Fabrics is a specialty retailer of fashion and home decorating textiles. From stores
in 37 states and online, their merchandise includes fabrics, sewing accessories, sewing machines and needlecraft supplies. The
$100 million plan of reorganization credit facility will be used to complete the company’s reorganization as it emerges
from Chapter 11.
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July 2008
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Co-Lead Arranger • C$400,000,000 • Cash Flow Credit Facility
Based in Saskatchewan, Canada, Viterra is one of the country’s largest agribusinesses with
operations across Western Canada, the United States and Japan. The C$400 million cash flow
credit facility was used to refinance the company’s previous bridge loan. GE Capital Markets
arranged the transaction.
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Co-Lead Arranger • $140,000,000 • Debtor-in-Possession Facility
Based in Hartsville, SC, Hilex-Poly is a manufacturer of plastic bags and film products. The
company operates 11 manufacturing facilities across the U.S., including the world’s largest plastic
bag recycling plant. The $140 million debtor-in-possession credit facility will be used for working
capital needs as the company restructures under Chapter 11. GE Capital Markets arranged the
transaction.
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Joint-Lead Arranger • $125,000,000 • Asset-Based Credit Facility
Kinney Drugs opened its first store in Gouverneur, NY, in 1903. Since then, the company has
grown into a regional drug store chain, operating more than 80 locations throughout NY and VT.
Kinney will use the $125 million asset-based credit facility to fund the company’s leveraged
employee stock ownership plan. GE Capital Markets arranged the transaction. GE also provided the
company with interest rate risk management.
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June 2008
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Lead Arranger • $700,000,000 • Debtor-in-Possession Facility
Headquartered in Clifton, New Jersey, Linens 'n Things, Inc. is a national, large-format retailer of home
textiles, housewares and decorative home accessories. The $700 million debtor-in-possession facility will be
used for working capital needs as the company restructures under Chapter 11. GE Capital Markets arranged
the transaction.
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Agent • C$175,000,000 • Senior Secured Credit Facility
Headquartered in Duncan, British Columbia, Western Forest Products is an integrated forest products
company. It is the largest coastal woodland operator and lumber producer in British Columbia. Operations
include timber-harvesting, reforestation, sawmilling logs into lumber and wood chips, and value-added
remanufacturing. The C$175 million senior secured credit facility will be used to refinance existing debt.
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Co-Lead Arranger • $200,000,000 • Asset-Based Credit Facility
Headquartered in Dearborn, MI, International Automotive Components Group North America, Inc. is a global
Tier 1 automotive supplier of vehicle interior components and systems including instrument panels, floor
consoles, door modules, overhead systems, flooring, acoustics, cargo management and more. The $200
million asset-based credit facility will be used for working capital needs.
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