NORWALK, Conn. & TORONTO--(BUSINESS WIRE)--GE Commercial Finance Corporate Lending, Canada today announced it provided a C$600 million credit facility to Saskatchewan Wheat Pool Inc. (TSX:SWP). The financing replaces current debt and will be used to support ongoing working capital needs. GE Capital Markets arranged the transaction.
Based in Saskatchewan, Canada, Saskatchewan Wheat Pool is one of the country's largest agri-businesses with operations across Western Canada, the United States and Japan.
"GE's in-depth industry expertise facilitated an understanding of our business strategy and allowed them to structure financing to meet our needs," said Mayo Schmidt, president and CEO of Saskatchewan Wheat Pool. "The facility provides our newly integrated company with the financial flexibility and liquidity required to help grow and meet the needs of our expanding customer base."
"With more than 25 years and $7.5B invested in the food industry, GE is dedicated to the sector," said Dennis Krause, food, beverage and agribusiness industry leader for GE Corporate Lending. "We worked closely with Saskatchewan Wheat Pool to understand their financing needs and structured a facility providing them with smarter capital to help meet their operating requirements."
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; Construction; Food, Beverage & Agribusiness; Financial & Business Services; Forest Products; General Manufacturing; Metals and Mining; Technology & Electronics; and Transportation.
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, GE Corporate Lending specializes in serving the unique needs of borrowers seeking $20 million to $2 billion and more for working capital, growth, acquisitions, project finance and turnarounds. Visit www.gelending.com/clnews 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 customers in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit www.ge.com.
Contacts
GE Corporate Lending, Norwalk
Jeff 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