NORWALK, Conn.--(BUSINESS WIRE)--GE Commercial Finance -- Corporate Lending today announced that it has provided a $170 million cash flow credit facility to ClientLogic, a leading business process outsourcing provider. The loan will be used for recapitalization and working capital needs. GE Capital Markets arranged the transaction.
"In a relatively tight timeframe, GE listened to our needs and structured financing with competitive terms to help us recapitalize and improve liquidity," said Paul Stone, Chief Financial Officer for ClientLogic. "We were equally confident in GE's ability to execute the financing in a timely manner."
"We worked closely with ClientLogic to provide the funds they needed to help optimize their capital structure," added Tom Quindlen, President & CEO of GE Corporate Lending. "Whether asset-based, cash flow or structured finance, we're dedicated to finding the right solution to help companies execute their business plans."
About ClientLogic
Nashville, Tennessee-based ClientLogic is a leading global business process outsourcing provider in the customer care, and back office processing industries. ClientLogic has 49 facilities in 13 countries throughout North America, Europe, Africa, Central America and Asia. A subsidiary of Canadian diversified company Onex Corporation, ClientLogic is among the top global customer care providers, managing more than half a million customer interactions daily. For more information, visit clientlogic.com.
About GE Corporate Lending
With $15 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 complimentary 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 $206 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 the company's website at ge.com.
Contacts
GE Corporate Lending, Norwalk
Jeffrey Wilson, 203-229-1887
[email protected]
or
GE Commercial Finance, Norwalk
Ned Reynolds, 203-229-5717
[email protected]
Britta Kons
GE Healthcare Global Services
[email protected]
1-203-400-1892