NORWALK, Conn. & TORONTO--(BUSINESS WIRE)--GE Commercial Finance Corporate Lending, Canada today announced it provided a C$150 million cash flow credit facility to magnesium auto parts manufacturer Meridian Technologies, Inc. The loan will be used for working capital needs and to support the purchase of Meridian by a consortium of investors led by Estatia A.G., a Swiss holding company. GE Capital Markets arranged the transaction. GE also provided interest rate risk management products and services.
NORWALK, Conn.--(BUSINESS WIRE)--GE Commercial Finance Corporate Lending today announced it has provided a $150 million asset-based credit facility to Esmark, Inc., a steel service center headquartered in Chicago Heights, IL. Esmark will use the financing for working capital needs and to refinance existing debt. GE Capital Markets served as co-lead arranger for the transaction.
Founded in 2003, Esmark provides value-added cold rolled and coated steel products to clients throughout the Midwest U.S.
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NORWALK, Conn. & TORONTO--(BUSINESS WIRE)--GE Commercial Finance Corporate Lending, Canada today announced it provided a C$150 million cash flow credit facility to magnesium auto parts manufacturer Meridian Technologies, Inc. The loan will be used for working capital needs and to support the purchase of Meridian by a consortium of investors led by Estatia A.G., a Swiss holding company. GE Capital Markets arranged the transaction. GE also provided interest rate risk management products and services.
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CHICAGO--(BUSINESS WIRE)--GE Antares today announced it is serving as administrative agent for a $45 million senior secured credit facility to support the recapitalization of Shemin Nurseries, Inc., an Olympus Partners portfolio company. GE Capital Markets is serving as sole lead arranger and bookrunner.
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Earth RewardsSM Platinum MasterCard® Gives Consumers Rewards that Reduce Greenhouse Gas Emissions With Every Use
New York, NY, July 25, 2007 -- Today GE (NYSE: GE) unveiled the GE Money Earth RewardsSM Platinum MasterCard,® the first US credit card dedicated to reducing cardholders' carbon emissions through trustworthy and reliable greenhouse gas emission offsets.
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TOKYO--(BUSINESS WIRE)--GE Commercial Finance announced today that Vicky Bindra has been named President and CEO, GE Commercial Finance India, succeeding Tejpreet S. Chopra who became President & CEO of GE India in June.
Vicky joins GE following a 12-year career with Citigroup where he was a member of Citigroup's Global Management Committee and served most recently as EVP Small Business and Customer Franchise, Global Consumer Group International. Prior to Citigroup, Vicky was a partner in the consulting firm, Bain & Company.
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NEW YORK--(BUSINESS WIRE)--GE AES Greenhouse Gas Services, a joint venture between GE Energy Financial Services, a unit of GE (NYSE: GE), and The AES Corporation, announced today a rigorous and comprehensive standard for the creation and sale of its greenhouse gas credits in the United States. The standard will ensure that credits produced by the joint venture are scientifically verified and provide a positive, measurable environmental benefit. The standard was announced in New York and will back the first US credit card dedicated to helping reduce cardholders' greenhouse gas emissions.
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ST. PAUL, Minn.--(BUSINESS WIRE)--GE Money's Sales Finance unit and the Electric & Gas Industries Association (EGIA), a non-profit organization dedicated to advancing energy efficiency and renewable energy solutions, recently announced a new multi-year relationship to provide revolving and installment consumer financing of residential solar systems through EGIA's GEOSmart Sustainable Financing Solutions loan program.
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Best of Breed JV's fuels GE Money's Growth
MALAGA, Spain--(BUSINESS WIRE)--GE Money, the global consumer lending division of General Electric Company (NYSE: GE), and Unicaja, Andalusia's leading financial institution, today signed a strategic alliance to create a joint venture in Spain. The newly created organisation will be a major consumer finance specialist in the Spanish market and the first consumer finance joint venture established in Andalusia. It will offer personal loans and credit cards which will be sold through Unicaja's distribution channels.
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--(BUSINESS WIRE)--On July 25, GE leaders and environmental influencers will come together in New York to launch the first credit card in the US with rewards dedicated to reducing cardholders' carbon emissions.
A distinguished panel will discuss the "greening" of consumer finances and the impact of the card on the environment.