NORWALK, Conn.--31 March 2011-- GE Capital, Corporate Finance today announced it is co-collateral agent on a $1.35 billion asset-based revolving credit facility for Ryerson Inc., a leading metals distributor and processor. The loan will be used to refinance an existing credit facility. GE Capital Markets served as co-syndication agent. GE also provides the company with equipment financing.
Ryerson Inc., a Platinum Equity company, is a leading North American processor and distributor of metals including stainless and carbon steel and aluminum products. Headquartered in Chicago, IL, Ryerson has operations in the United States, Canada, Mexico and China.
"GE Capital has remained a long-standing lender to Ryerson, and continues to provide us with customized financing solutions that help us meet our goals," said Terence Rogers, chief financial officer of Ryerson Inc. "We value GE's industry expertise and significant financial commitments to help fuel our growth plans."
"Over the last 10 years, we have come to know and understand the business needs of Ryerson," said Tom Quindlen, president and CEO of GE Capital, Corporate Finance. "We specialize in financing metals companies and in finding the right solutions for customers through economic cycles."
About GE Capital, Corporate Finance
GE Capital, Corporate Finance provides asset-based, cash flow and structured loans and leases to mid-size and large U.S. businesses. Financing supports working capital, growth, acquisitions, turnarounds and balance sheet optimization in key sectors: Aerospace and defense; automotive and transportation; chemicals and plastics; construction and building products, corporate aircraft; financial and business services; food, beverage and agribusiness; manufacturing; marine; metals and mining; paper, packaging and forest products; retail; and technology and electronics. Funding may be provided through GE Capital, Corporate Finance's affiliate, GE Capital Financial. Inc., Member, FDIC. With Access GE, clients also benefit from access to GE's best practices. Visit gelending.com/clnews.
GE Capital offers consumers and businesses around the globe an array of financial products and services. For more information, visit gecapital.com or follow company news via Twitter (@GECapital). GE (NYSE: GE) is an advanced technology, services and finance company taking on the world's toughest challenges. For more information, visit ge.com.
Ned Reynolds
GE Capital
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+1 203 2295717
+1 203 8370699
Jeff Wilson
GE Capital Corporate Finance
[email protected]
1-203-749-6340