NORWALK, Conn.--30 October 2008-- GE Commercial Finance Corporate Lending today announced it provided a $195 million cash flow credit facility to Bellisio Foods, a major frozen food manufacturer. The loan will be used for recapitalization and ongoing working capital needs. GE Capital Markets acted as co-lead arranger on the transaction.
NORWALK, Conn.--29 October 2008-- Unitranche Fund LLC, co-managed by affiliates of Allied Capital and GE Commercial Finance, has provided $95 million of unitranche debt financing to support J.H. Whitney & Co.'s acquisition of Igloo Products Corp. GE Antares Capital provided a $40 million undrawn revolver to the company.
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NORWALK, Conn.--27 October 2008-- GE Commercial Finance's Media, Communications & Entertainment business today announced that it will act as Administrative Agent in an expanded $188.5 million senior credit facility to Otelco Inc. (NASDAQ: OTT; TSX: OTT.un), a wireline telephone services provider in Alabama, Maine and Missouri. GE Capital Markets, Inc. is serving as lead arranger and sole bookrunner on the new facility. CoBank, ACB is acting as co-lead arranger.
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Corporate fleets now have a new way to increase driver satisfaction and productivity while managing costs. GE Capital Solutions Fleet Services has developed a product controls fuel card that enables drivers to purchase oil, car washes, coolant and wiper fluid, in addition to fuel.
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NORWALK, Conn.--23 October 2008-- GE Commercial Finance Corporate Lending today announced it has provided a $200 million asset-based credit facility to Severstal Warren, Inc., a steel producer and indirectly owned subsidiary of OAO Severstal. The loan will be used for ongoing working capital needs.
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NORWALK, Conn.--22 October 2008-- GE Commercial Finance Corporate Lending today announced it provided a $175 million plan of reorganization credit facility to Goody's Family Clothing Inc., a moderately priced family apparel retailer. The loan was used to refinance the company's debtor-in-possession (DIP) financing upon the company's emergence from a Chapter 11 bankruptcy. In June, GE Corporate Lending also provided the company with a $175 million DIP credit facility. GE Capital Markets arranged both transactions.
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NISKAYUNA, N.Y.--22 October 2008-- GE (NYSE: GE) is recharging the electrification of transportation by making its sixth equity investment in lithium-ion battery manufacturer A123Systems. GE invested $30 million in A123's $102 million Series E financing, making it the battery manufacturer's largest single cash investor -- at 9 percent ownership. The investments were made by GE Commercial Finance - Equity and GE Energy Financial Services, bringing GE's combined total investment in A123Systems to $55 million.
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CHICAGO--(BUSINESS WIRE)--GE Healthcare Financial Services, as agent, along with co-lender BlueCrest Capital Finance have provided a $27.5 million senior secured credit facility to SkinMedica, Inc., a leading specialty pharmaceutical company focused on developing, acquiring, and commercializing products that treat dermatologic conditions and diseases and improve the appearance of skin.
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NORWALK, Conn.--15 October 2008-- GE Commercial Finance Corporate Lending today announced a $100 million increase in senior secured financing for Severstal Columbus, a next generation steel mill based in Columbus, MS. This increase in funds brings the total project financing for the company, formerly known as SeverCorr, to $577.5 million. GE Capital Markets arranged the transaction as co-lead arranger. The loan will be used to expand the mill, doubling its steel producing capacity to 3 million tons per year.