NORWALK, Conn.--(BUSINESS WIRE)--GE Commercial Finance Corporate Lending today announced it has provided a $130 million cash flow credit facility to JHT Holding, Inc., a leading truck transport services company. GE Capital Markets arranged and syndicated the transaction. GE also provided JHT with interest rate risk management products and services.
The loan increases the company's liquidity and will be used for recapitalization purposes.
Founded in 1933 and headquartered in Kenosha, Wisconsin, JHT transports more than half of all heavy duty and medium duty trucks from manufacturers to dealerships across the U.S.
"GE understands the opportunities and challenges of our industry and worked with us to structure financing that provides our business with increased liquidity at competitive terms," said T. Michael Riggs, President of JHT Holding, Inc. "They add value beyond the loan, and also helped us better manage interest rate volatility."
"The trucking industry as a result of new emissions standards is faced with higher priced engines and increased operating costs," said Gene Leary, Transportation Industry Leader for GE Corporate Lending. "With approximately $5.2 billion invested in the trucking industry specifically, GE is familiar with the trends creating the ebbs and flows of the market."
Industry Specialization
To better meet the unique financing needs of customers, GE Corporate Lending has a team of Industry Leaders supported by dedicated research analysts. These industry experts work closely with GE Corporate Lending's regional teams to build customized financing solutions for companies across key industries: Aerospace & Defense; Automotive & Automotive Parts; Chemicals & Plastics; Food, Beverage & Agribusiness; Financial & Business Services, General Manufacturing; Paper, Packaging & Forest Products; Steel & Diversified Metals; Technology; and Transportation & Construction. The industry-aligned approach also builds on GE Corporate Lending's experience as a leading provider of financial solutions for the Retail industry and for companies in need of Project, Turnaround and Restructuring Finance.
About GE Corporate Lending
With $14 billion in assets, GE Commercial Finance Corporate Lending is one of North America's largest providers of asset-based, cash flow, structured finance and other financial solutions for mid-size and large companies. From over 30 offices throughout the U.S. and Canada, Corporate Lending specializes in serving the unique needs of borrowers seeking $10 million to $1 billion and more for working capital, growth, acquisitions, project finance and turnarounds. Visit gelending.com for more information.
About GE Commercial Finance
GE Commercial Finance, which offers businesses around the globe an array of financial products and services, has assets of over $233 billion and is headquartered in Norwalk, 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. GE serves customer in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit ge.com.