COLLEGE STATION, TX -- Jan. 8, 2014 -- GE Energy Financial Services, a unit of GE (NYSE: GE), has formed its third partnership with a Vess Oil Corp. affiliate to purchase oil reserves in East Texas for $108 million. The partnership is acquiring approximately 13,000 net acres and associated Woodbine production from an affiliate of EnerVest, Ltd. The assets are located approximately 20 miles northeast of College Station in Brazos, Madison and Grimes counties, and the target zones are the existing Woodbine and prospective Eagle Ford formations.
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NORWALK, CT -- January 8, 2014 -- GE Capital, Corporate Finance today announced it is serving as administrative agent on $72.5 million of senior secured credit facilities to Permian Basin Materials, LLC (PBM), a newly formed affiliate of WL Ross & Co. LLC (WL Ross). The credit facilities are being used to support the simultaneous acquisitions of Crockett County Mining, Ltd., Highland Concrete Co., and Wallach Concrete, Inc., and for ongoing working capital needs. GE Capital Markets served as sole lead arranger and bookrunner on the transactions.
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NORWALK, CT -- January 07, 2014 -- GE Capital, Corporate Finance today announced it is serving as administrative agent on $285 million of senior secured revolving and term credit facilities to Harley Marine Services, Inc. The credit facilities will recapitalize the company and provide additional funds for growth initiatives. GE Capital Markets served as sole bookrunner and sole lead arranger on the transactions.
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HENDERSON, Nev. Jan. 6, 2014 -- Supporting a power plant that uses GE technology to deliver reliable, lower-emission energy while expanding its generation portfolio, GE Energy Financial Services - through GE Capital Markets, Inc. -- served as the lead arranger in a $97.4 million senior secured credit facility for Saguaro Power Company's 105-megawatt combined cycle cogeneration project in Nevada.
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NORWALK, CT --- GE Capital, Corporate Finance today announced it is serving as administrative agent on $340 million in revolving credit facilities for subsidiaries of Wise Metals Group, LLC. The facilities will be used to fund the company's growth and ongoing working capital needs. GE Capital Markets served as sole lead arranger and joint bookrunner on the facilities.
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NORWALK, CT --- GE Capital, Corporate Finance today announced that it provided a $50 million senior credit facility to Stoli Group USA, the North American producer and distributor of Stolichnaya® vodka. The financing will be used for working capital and general corporate purposes.