LINDEN, N.J.--Tuesday, December 08, 2009-- Two major Northeastern US power grids, in New Jersey and New York City, are now talking to each other and dispatching energy more efficiently and reliably using breakthrough GE smart grid technology and capital, the company announced today. Three massive "variable frequency transformers" are converting up to 315 megawatts of electricity -- enough for up to 300,000 homes -- from the power system in New Jersey and feeding it to New York City.
NORWALK, Conn.--Tuesday, December 08, 2009-- GE Capital, Corporate Finance today announced it is administrative agent for a $168 million cash flow credit facility for Blount International, Inc., a leading outdoor products manufacturer. The loan amends and extends an existing facility, and will be used for working capital needs. GE Capital Markets served as sole lead arranger.
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NORWALK, Conn.--Monday, December 07, 2009-- GE Capital, Corporate Retail Finance today announced it is co-collateral agent for a $625 million asset-based credit facility for The Bon-Ton Stores, Inc., a department store retailer. The loan will be used to refinance existing debt and for working capital needs. GE Capital Markets served as joint lead arranger.
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HOFFMAN ESTATES, Ill.--Thursday, December 03, 2009-- GE Capital, Commercial Distribution Finance (CDF) today announced that it will acquire over $200 million of dealer floorplan financing receivables for the Arctic Cat dealer network in the USA. GE Capital will be acquiring the portfolio from Arctic Cat's former financier, Textron Financial Corporation and is now the exclusive provider of inventory finance for Arctic Cat under a multi-year program.
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First US corporate issuer of Sukuk (Islamic Bonds) listed on Bursa Malaysia which further strengthens and deepens Malaysian Sukuk Market
Kuala Lumpur-- December 1, 2009 --- GE Capital, the finance arm of General Electric (NYSE: GE) announced the listing of its inaugural "sukuk" issuance on Bursa Malaysia, further opening up the Malaysian sukuk market. The five-year, $500 million US$ denominated sukuk completed on November 27, 2009 had strong demand and makes GE Capital the first US corporate sukuk issuer to be listed on Bursa Malaysia under the exempt regime.
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NORWALK, Conn.--Wednesday, November 25, 2009-- GE Capital, Corporate Retail Finance today announced it was a co-lender for a $500 million asset-based credit facility to Saks, Inc., a department store retailer. The loan will be used for working capital needs and general corporate purposes. GE Capital Markets served as joint lead arranger.