GE Capital today announced the completion of a C$15 million asset-based term loan for COM DEV International Ltd. (TSX: CDV; "COM DEV"). COM DEV will use the credit facility to recapitalize their balance sheet following the company's final investment in its data services subsidiary joint venture, as well as for general corporate purposes.
MONTREAL, March 31 - GE Capital today announced the completion of a C$15 million asset-based term loan for COM DEV International Ltd. (TSX: CDV; "COM DEV"). COM DEV will use the credit facility to recapitalize their balance sheet following the company's final investment in its data services subsidiary joint venture, as well as for general corporate purposes.
With principal operations located in Canada, England, and the United States, COM DEV is a leading global designer and manufacturer of space hardware equipment and subsystems, as well as a global space-based data services provider.
"GE Capital has been one of our financing partners for five years now. They were with us a few years ago to provide our Company with financing that allowed us to establish our operations in the United States. In this transaction, GE Capital has provided financing that will be used, in part, to fund the final installment of investment in exactEarth Ltd, our data services joint venture company, and a key part of our Company's expected future success. We are pleased that GE Capital was once again able to find a way to support our strategic priorities," said Gary Calhoun, Chief Financial Officer, COM DEV International Ltd.
"We're very pleased to be able to grow our relationship with COM DEV," said Ms. Michelle Cole, Senior Vice President, Canada at GE Capital. "Our underwriting expertise in term debt financing against fixed assets enabled us to deliver a solution that strengthens and complements their existing credit facilities."
About GE Capital:
With more than 20 offices throughout Canada, GE Capital (gecapital.ca) offers a wide variety of financial products and services to address commercial financing and fleet management needs in all phases of a business' lifecycle. From equipment finance to working capital and growth financing to large asset-based and restructuring loans, we apply our wealth of industry expertise and develop custom solutions for your company. Some of the industry sectors we specialize in include transportation, construction, healthcare, forestry, manufacturing, oil & gas, wholesale & retail, restaurant and hotel franchise. For more information, visit gecapital.com or follow company news via Twitter (@GECapitalNews). For more information on GE Capital in the Americas, visit gecapital.com/americas. 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 ge.com
Sarah Triantafillou
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