NORWALK, Conn.--(BUSINESS WIRE)--Jan. 23, 2006--GE Commercial Finance - Global Media & Communications today announced that it has provided $125 million in senior secured financing for Northland Cable Television, Inc. GE acted as Sole Arranger for the transaction, which closed December 22, 2005. The financing will be used to refinance existing indebtedness.
Northland Cable Television, Inc. operates cable systems in Georgia, South Carolina, North Carolina, Texas, Washington and California. Northland is headquartered in Seattle, WA and has divisional offices in Statesboro, GA and Corsicana, TX.
"We were impressed with GE Commercial Finance and enjoyed working with them on this transaction," said Gary Jones, President, Northland Cable Television, Inc. "This facility enhances our financial as well as operational flexibility, allowing us to continue the upgrading and expansion of our cable networks."
"We are very pleased to continue our long-term relationship with Northland," said Tom Byrne, Senior Vice President, GE Commercial Finance - Global Media & Communications. "We are strongly committed to the cable sector and welcome the opportunity to assist leading companies with our industry knowledge and financing creativity."
About GE Commercial Finance - Global Media & Communications
With over $5 billion in assets, offices in Atlanta, Chicago, London, New York, Norwalk, San Francisco and resources in Asia-Pacific, GE Commercial Finance - Global Media & Communications represents a "one-stop" source for the comprehensive range of GE's lending and other structured financial services offered to the telecom, media, technology and entertainment marketplace. For more information, please visit gegmc.com.
About GE Commercial Finance
GE Commercial Finance, which offers businesses around the globe an array of financial products and services, has assets of over $232 billion and is headquartered in Stamford, Connecticut. 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. With products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media content and advanced materials, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit the company's website at ge.com.
Contacts
GE Commercial Finance, Norwalk
Ned Reynolds, 203-229-5717
[email protected]
or
TorranceCo, New York
Mark Prindle, 212-691-5860
[email protected]
Jeff Wilson
GE Capital Corporate Finance
[email protected]
1-203-749-6340