NORWALK, Conn.--(BUSINESS WIRE)--July 11, 2006--GE Commercial Finance - Global Media & Communications announced today that it has closed, as administrative agent, a $68,750,000 senior secured credit facility in support of Seaport Capital's acquisition of Everest Connections, a local cable, Internet and phone provider with over 34,000 subscribers in the greater Kansas City metropolitan area. GE Capital Markets served as sole lead arranger in the deal, which closed on June 30.
FAIRFIELD, Conn.--(BUSINESS WIRE)--July 11, 2006--GE announced today two transactions that accelerate the Company's repositioning of its Industrial business to unlock additional value for investors.
In the first announcement, GE Consumer & Industrial and Rexel, the world's largest electrical supplies distributor, announced a $725 million agreement for Rexel to acquire GE Supply, GE's electrical distribution business. The transaction was signed today and is expected to close in the third quarter of 2006.
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NORWALK, Conn.--(BUSINESS WIRE)--July 11, 2006--GE Commercial Finance - Global Media & Communications today announced that it has closed a $40 million credit facility for Palace Entertainment in conjunction with the company's sale to MidOcean Partners. Palace Entertainment, one of the largest family amusement and water park operators in the U.S., will use the facility for working capital and general corporate purposes. $150 million of senior unsecured notes were also issued to complete the acquisition. GE will hold all of the new senior credit facilities.
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NORWALK, Conn.--(BUSINESS WIRE)--July 11, 2006--GE Commercial Finance today announced the appointment of Stephen Pierson as senior vice president industry leader of aerospace and defense for its Corporate Lending business. He will be responsible for delivering solutions tailored to the unique capital requirements of GE customers in the aerospace and defense sector. Stephen is based out of the Norwalk, Conn., office.
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NORWALK, Conn.--(BUSINESS WIRE)--July 11, 2006--GE Commercial Finance - Global Media & Communications announced today that it has closed, as administrative agent, a $68,750,000 senior secured credit facility in support of Seaport Capital's acquisition of Everest Connections, a local cable, Internet and phone provider with over 34,000 subscribers in the greater Kansas City metropolitan area. GE Capital Markets served as sole lead arranger in the deal, which closed on June 30.
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NORWALK, Conn.--(BUSINESS WIRE)--July 5, 2006--GE Commercial Finance today announced new leadership at the Northeast Region Manager level of its North American Corporate Lending business as part of its continuing expansion to help provide customers a smarter suite of financial solutions, delivered locally and tailored to the lifecycle needs of their business.
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NORWALK, Conn.--(BUSINESS WIRE)--July 5, 2006--GE Commercial Finance today announced new leadership at the Northeast Region Manager level of its North American Corporate Lending business as part of its continuing expansion to help provide customers a smarter suite of financial solutions, delivered locally and tailored to the lifecycle needs of their business.
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LONDON & SAN DIEGO--(BUSINESS WIRE)--June 29, 2006--Expanding its innovative solar roof investment program, Solar Integrated Technologies, Inc. (AIM: SIT.LN), a leading provider of building integrated photovoltaic roofing systems, announced today that it has completed the installation of solar panels doubling as roofs on five additional schools in San Diego. A total of 19 schools now have solar roofs manufactured, constructed and installed by Solar Integrated since the program with GE Energy Financial Services began in April 2005.
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NORWALK, Conn.--(BUSINESS WIRE)--June 29, 2006--GE Commercial Finance Global Sponsor Finance today announced it is the administrative agent for $850-million of senior secured credit facilities for United Agri Products ("UAP" or "the Company") (NASDAQ "UAPH"). GE Capital Markets and GS Credit Partners served as joint lead arrangers and joint bookrunners.
The financing consists of a $675-million 5-year ABL revolving credit facility and a $175-million 6-year term loan.
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NORWALK, Conn.--(BUSINESS WIRE)--June 29, 2006--GE Commercial Finance Global Sponsor Finance today announced it is the administrative agent for $850-million of senior secured credit facilities for United Agri Products ("UAP" or "the Company") (NASDAQ "UAPH"). GE Capital Markets and GS Credit Partners served as joint lead arrangers and joint bookrunners.
The financing consists of a $675-million 5-year ABL revolving credit facility and a $175-million 6-year term loan.