NORWALK, Conn.--Tuesday, June 08, 2010-- GE Capital, Restructuring Finance today announced it is co-lender for a $175 million debtor-in-possession credit facility for Neff Rental, Inc., a national construction equipment rental company. The loan will be used for working capital needs as the company restructures through its prearranged plan under Chapter 11. GE Capital Markets served as co-lead arranger.
BETHESDA, Md.--Tuesday, June 08, 2010-- GE Capital, Healthcare Financial Services provided, as administrative agent, $120 million in senior secured credit facilities to Schumacher Group, the third largest company serving the outsourcing emergency services management industry. The credit facilities will be used to provide the company with additional growth capital and to refinance existing indebtedness. GE Capital Markets served as lead arranger.
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NORWALK, Conn.--07 June 2010-- GE Capital, Corporate Finance today announced it is sole lender for a $75 million asset-based credit facility to Insteel Industries, Inc., a leading manufacturer of steel wire reinforcing products. The loan replaces an existing credit facility from GE and will be used to fund Insteel's working capital, capital expenditure, general corporate and growth requirements.
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GE Capital UK announced today that 100% of employees with a company mobile phone, driving on company business have opted into a driver declaration not use their phone while behind the wheel. This recommendation includes the use of speaker phone, installed hands free kits/GSM and Bluetooth devices
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* Majority (91%) of UK SMEs expect growth to come from domestic sales not overseas business
* Fewer than one in ten UK SMEs see international expansion as a top priority
Despite expectations that the pound will remain weak against the US dollar and Euro for the foreseeable future, small and medium-sized enterprises in the UK are failing to take advantage of the current favourable export environment, according to a study released today by GE Capital.
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Funding allows multi-unit development throughout the Southeast
SCOTTSDALE, Ariz.--Tuesday, May 25, 2010-- GE Capital, Franchise Finance provided $19.35 million in financing to Tappan Street Restaurant Group, Inc., owners of Taco Mac, based in Atlanta. The financing included a $13.35 million term loan to refinance general operating debt and a $6 million revolver for new-unit development. Funding was provided through GE Capital, Franchise Finance's bank affiliate, GE Capital Financial Inc.
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KING CITY, CA, Thursday, May 20, 2010-- GE Energy Financial Services -- a unit of GE (NYSE: GE) -- announced today it is expanding its 26-gigawatt power portfolio by buying the King City cogeneration power plant in California's Salinas Valley for $68 million. Calpine Corporation (NYSE: CPN), based in Houston, has leased, operated and maintained the plant since 1996 and will continue to do so under GE's ownership.