NORWALK, Conn.--(BUSINESS WIRE)--July 6, 2004--GE Commercial Finance's Restructuring group announced that it has named Penny G. Friedman, senior vice president, to lead its origination efforts for the Central Region. Based in Chicago, Ms. Friedman will report to Stuart Armstrong, managing director.
Part of GE Commercial Finance Corporate Lending, the Restructuring group secures financing for companies restructuring either out of court or in a bankruptcy proceeding, as well as companies emerging from bankruptcy. Loans typically range from $30 million to $2 billion. Recent financings include plan of reorganization financing for Kmart and Thermadyne, and debtor-in-possession financing for NRG Northeast Generating Co. and Budget Group.
Ms. Friedman leads a team that includes Elias Makris, senior vice president, who is based in Dallas; Howard Steinberg, senior vice president, based in Toronto and responsible for originations in Canada; and Mac Fowle, vice president, Angela Harmon, vice president, and Katie Phelps, sales associate, all based in Chicago.
Ms. Friedman joined GE in 1994 from the corporate finance group of Heller Financial Corporation. She began her career in the financial services division of Arthur Andersen & Co.
Ms. Friedman is a certified public accountant and an active member of the Turnaround Management Association. She is a graduate of the University of Illinois with a B.A. degree in accounting and from the University of Chicago where she earned an M.B.A. degree in finance and marketing.
About GE Commercial Finance Corporate Lending
GE Commercial Finance Corporate Lending offers financing to clients from middle-market companies to large corporations. Products and services include asset-based financing, cash flow lending and corporate restructuring. Corporate Lending is a leading global provider of financing solutions for investment and non-investment grade companies - committed to supporting clients at all stages of the business cycle. For more information on the businesses and products of GE Commercial Finance Corporate Lending, please visit www.gelending.com. GE Commercial Finance, which offers businesses around the globe an array of financial products and services, has assets of over $220 billion and is headquartered in Stamford, Connecticut. General Electric (NYSE: GE) is a diversified technology, media and financial services company dedicated to creating products that make life better. For more information, visit the company's website at www.ge.com.
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