NORWALK, Conn.--(BUSINESS WIRE)--Aug. 8, 2006--GE Commercial Finance - Global Media & Communications announced today that it has closed a $30 million senior credit facility for Long Lines, LLC, a leading rural communications company providing voice, data, video and wireless services to communities in Iowa, South Dakota and Nebraska. The financing will enable Long Lines to refinance existing debt and to fund the expansion of its GSM wireless network. GE Capital Markets served as sole lead arranger for the transaction, which closed July 31.
GE - Global Media & Communications' continuing commitment to the telecommunications industry includes significant financings in the wireline, wireless, cable and tower sectors.
"GE uses its broad experience and deep telecom knowledge to offer flexible financing solutions to growing companies, such as Long Lines," said Chris Pagano, SVP, GE - Global Media & Communications. "Long Lines is an integral part of the communities it services and we look forward to opportunities to support their ongoing growth plans."
"Long Lines has a proud tradition of building communication networks that encourage the economic development of rural communities and urban centers in the Upper Midwest," said Brent Olson, Long Lines CFO. "GE understands Long Lines' mission to help grow the communities where we live, work and raise our families."
About GE Commercial Finance - Global Media & Communications
With over $6 billion in assets and offices in Atlanta, Beverly Hills, Boston, Chicago, Hong Kong, London, New York, Norwalk, Palo Alto and San Francisco, Global Media & Communications represents a one-stop source for the comprehensive range of GE's debt and equity financing services offered to the telecom, media, technology (TMT) 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 $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 Commercial Finance
Ned Reynolds, 203-229-5717
[email protected]
OR
CJP Communications
Vu Chung, 212-279-3115 x205
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Britta Kons
GE Healthcare Global Services
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1-203-400-1892