NORWALK, Conn.--(BUSINESS WIRE)--GE Commercial Finance's Media, Communications & Entertainment business today announced it has closed a transaction as administrative agent for a $117.25 million credit facility to support Washington D.C.-based private equity firm Arlington Capital Partners' acquisition of Daily Racing Form, the 112-year-old daily newspaper covering thoroughbred racing. GE Capital Markets served as sole lead arranger and bookrunner for the transaction, which closed October 19.
Contract Totals More Than $350 Million
ATLANTA--(BUSINESS WIRE)--GE Energy has received a contract of more than $350 million to supply 167 of its 1.5-megawatt wind turbines to Third Planet Windpower, LLC, a developer of wind projects throughout the United States.
The new machines will be used in one or more new wind farms Third Planet Windpower is developing in Texas, New Mexico, Nebraska and Wyoming that will be ready for turbines in 2009. The turbines purchased from GE will have the capacity to serve about 60,000 to 75,000 typical U.S. households.
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GRAND RAPIDS, Mich.--(BUSINESS WIRE)--GE Aviation has been awarded a contract from Southwest Airlines to provide the flight management system upgrade for 200 Boeing 737 Classic aircraft. Deliveries will take place in 2008 and 2009. The system will be designed and manufactured at the GE facility in Grand Rapids, Michigan.
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FOR IMMEDIATE RELEASE:
PHILADELPHIA, PA -- OCTOBER 20, 2007 -- With 1000 gallons of paint, miles of plastic drop cloth, and three truckloads of landscaping materials, 400 volunteers from GE and Northeast High School worked 3,500 hours to improve Northeast High School's campus, located in northeast Philadelphia. GE and Northeast High School joined forces as part of the Greater Philadelphia Cares 14th Annual Philadelphia Cares day -- a marathon day of educational service focused on improving Philadelphia's learning environments.
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Clark Vitulli Acquires Dealership with $3.4 Million
SCOTTSDALE, Ariz. & St. Augustine, Fla.--(BUSINESS WIRE)--Clark Vitulli, founder and former CEO of America's PowerSports, along with Allen Good, an associate of Vitulli's from APS, has acquired a St. Augustine, Fla., Harley-Davidson dealership with a $3.4 million loan from GE Capital Solutions, Franchise Finance.
The loan, based on the projected value of the business, is going to be used to revamp the Harley-Davidson store and to modernize the showroom.
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NORWALK, Conn.--(BUSINESS WIRE)--GE Commercial Finance Corporate Lending today announced it served as co-administrative agent in a $9.2 billion financing for SABIC Innovative Plastics Holding B.V. The facility included $7.7 billion of senior secured debt and $1.5 billion in senior notes. The financing was used to support the acquisition of GE's Plastics business by Saudi Basic Industries Corporation (SABIC). GE Capital Markets served as joint bookrunner.
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NORWALK, Conn.--(BUSINESS WIRE)--GE Commercial Finance Corporate Lending today announced it served as co-administrative agent in a $9.2 billion financing for SABIC Innovative Plastics Holding B.V. The facility included $7.7 billion of senior secured debt and $1.5 billion in senior notes. The financing was used to support the acquisition of GE's Plastics business by Saudi Basic Industries Corporation (SABIC). GE Capital Markets served as joint bookrunner.
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National Association of Black Hotel Owners, Operators, and Developers Achieves Growth Through Education
SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Continuing to increase financial knowledge among smart, energetic, and enthusiastic entrepreneurs, GE Capital Solutions, Franchise Finance is celebrating its fifth year of driving new industry growth with the National Association of Black Hotel Owners, Operators, and Developers (NABHOOD).