NORWALK, Conn.--(BUSINESS WIRE)--July 11, 2006--GE Commercial Finance today announced the appointment of Stephen Pierson as senior vice president industry leader of aerospace and defense for its Corporate Lending business. He will be responsible for delivering solutions tailored to the unique capital requirements of GE customers in the aerospace and defense sector. Stephen is based out of the Norwalk, Conn., office.
NORWALK, Conn.--(BUSINESS WIRE)--July 11, 2006--GE Commercial Finance - Global Media & Communications announced today that it has closed, as administrative agent, a $68,750,000 senior secured credit facility in support of Seaport Capital's acquisition of Everest Connections, a local cable, Internet and phone provider with over 34,000 subscribers in the greater Kansas City metropolitan area. GE Capital Markets served as sole lead arranger in the deal, which closed on June 30.
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FAIRFIELD, Conn.--(BUSINESS WIRE)--July 11, 2006--GE announced today two transactions that accelerate the Company's repositioning of its Industrial business to unlock additional value for investors.
In the first announcement, GE Consumer & Industrial and Rexel, the world's largest electrical supplies distributor, announced a $725 million agreement for Rexel to acquire GE Supply, GE's electrical distribution business. The transaction was signed today and is expected to close in the third quarter of 2006.
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NORWALK, Conn.--(BUSINESS WIRE)--July 11, 2006--GE Commercial Finance - Global Media & Communications today announced that it has closed a $40 million credit facility for Palace Entertainment in conjunction with the company's sale to MidOcean Partners. Palace Entertainment, one of the largest family amusement and water park operators in the U.S., will use the facility for working capital and general corporate purposes. $150 million of senior unsecured notes were also issued to complete the acquisition. GE will hold all of the new senior credit facilities.
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NORWALK, Conn.--(BUSINESS WIRE)--July 11, 2006--GE Commercial Finance today announced the appointment of Stephen Pierson as senior vice president industry leader of aerospace and defense for its Corporate Lending business. He will be responsible for delivering solutions tailored to the unique capital requirements of GE customers in the aerospace and defense sector. Stephen is based out of the Norwalk, Conn., office.
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NORWALK, Conn.--(BUSINESS WIRE)--July 11, 2006--GE Commercial Finance - Global Media & Communications announced today that it has closed, as administrative agent, a $68,750,000 senior secured credit facility in support of Seaport Capital's acquisition of Everest Connections, a local cable, Internet and phone provider with over 34,000 subscribers in the greater Kansas City metropolitan area. GE Capital Markets served as sole lead arranger in the deal, which closed on June 30.
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Ten local university students receives annual award to pursue dreams
Kuala Lumpur, July 11, 2006 - Ten local university students were the proud recipients of the GE Foundation Scholar-Leaders Program, a scholarship program which provides three years of support to undergraduate Malaysian students enrolled in engineering and science programs in any Malaysian university.
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PITTSFIELD, Mass.--(BUSINESS WIRE)--July 10, 2006--Crystal blue, rich violet, and water-clear polycarbonate (PC) with a touch of diamond sparkle - these are not your traditional violins. Crafted by Ted Brewer, an established U.K. designer of transparent violins, the ultramodern Vivo2 line features GE Plastics' Lexan(1) Visualfx(1) special effects resin for stunning visual impact combined with high performance. Ted, who originally hand-carved his instruments from acrylic block, turned to GE Plastics when increasing market demand prompted a move to injection molding.
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New Delhi, 10 July, 2006 - GE Money, the consumer finance unit of the General Electric Company (GE), today announced an increase in its benchmark floating reference rate by 0.75% with effect from Saturday, July 1, 2006.
This increase in the benchmark floating reference rate is on account of changed financial market parameters with respect to borrowing costs.