NORWALK, Conn.--Friday, March 19, 2010-- GE Capital, Corporate Finance today announced it is sole lender for a $50 million asset-backed credit facility, which is part of an overall $105 million facility provided to JWTR, a timberland owner and operator. GE Capital Markets served as lead arranger for the incremental $55 million facility. The facility will be used to refinance existing debt.
Formed in 2006, Klamath Falls, Oregon-based JWTR owns and manages approximately 630,000 acres of timberlands in Southern Oregon and Northern California. The timber harvested from JWTR's properties is primarily used for building materials.
"GE combined in-depth knowledge of forest products with loan structuring expertise to deliver just the capital we needed," said Thomas Ludlow, chief financial officer of JWTR. "Their ability to provide an innovative financing solution helped us meet our business and finance objectives."
"GE specializes in working with clients to meet their unique business needs," said Tom Quindlen, president and CEO of GE Capital, Corporate Finance. "Understanding the challenges and opportunities in sectors such as forest products, means smarter liquidity for borrowers."
About GE Capital, Corporate Finance
GE Capital, Corporate Finance is one of the largest providers of asset-based, cash flow and structured loans and leases for mid-size and large U.S. businesses. Financing supports working capital, growth, acquisitions, turnarounds and balance sheet optimization in key sectors: Aerospace & Defense, Automotive & Transportation, Chemicals & Plastics, Corporate Aircraft, Financial & Business Services, Food, Beverage & Agribusiness, Government Finance, Manufacturing, Marine, Metals & Mining, Paper, Packaging & Forest Products, Retail, Technology & Electronics. Visit www.gelending.com/clnews.
About GE Capital
GE Capital offers consumers and businesses around the globe an array of financial products and services. For more information, visit www.gecapital.com or follow company news via Twitter (@GECapital). GE (NYSE: GE) is Imagination at Work - a diversified technology, media and financial services company focused on solving some of the world's toughest problems. Visit www.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