NORWALK, Conn.--10 November 2008-- GE Commercial Finance's Media, Communications & Entertainment business today announced it is acting as administrative agent in a $52.5 million senior secured credit facility to Lightower, a provider of digital fiber networks in the Northeast. GE Capital Markets, Inc is acting as joint bookrunner and joint lead arranger on the facility. Lightower is owned by management, M/C Venture Partners and Wachovia Capital Partners.
GE Capital aviation finance arm to become the first global lessor to add the ARJ21 to its fleet
GE Commercial Aviation Services Limited (GECAS) and Shanghai-based Commercial Aircraft Corporation of China, LTD (COMAC) today announced a signed contract for five ARJ21 regional jets, with options for 20 additional aircraft. Deliveries of the aircraft to GECAS will begin in 2013.
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NORWALK, Conn.--04 November 2008-- GE Antares Capital today announced it served as administrative agent for a $45.1 million senior secured credit facility to support the acquisition of FCX Performance, Inc., by Sterling Investment Partners in partnership with the company's key senior management.
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Tekne Awards celebrate Minnesota's technology innovators and innovations
EDEN PRAIRIE, Minn.--(BUSINESS WIRE)--GE Capital Solutions Fleet Services has been named the established company recipient of the Technology Services Award at the 2008 Tekne Awards for its Mobile Resource and Asset Use/Management via a telematics solution. The Tekne Awards were held at the Minneapolis Convention Center on Oct. 30. The Tekne Awards honor superior technology advancement and leadership in Minnesota.
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NORWALK, Conn.--03 November 2008-- GE Commercial Finance today announced it provided a $250 million senior secured plan of reorganization (POR) credit facility to Vertis Communications, a targeted print advertising and direct marketing solutions provider. The loan was used to refinance the company's debtor-in-possession (DIP) financing upon the company's emergence from a pre-packaged Chapter 11 bankruptcy. In July, GE Commercial Finance also provided the company with a $380 million DIP credit facility. GE Capital Markets arranged both transactions.
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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.
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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.