NEW YORK & NORWALK, Conn. --- November 8, 2012 --- The Senior Secured Loan Program (SSLP), jointly managed by an affiliate of Ares Capital Corporation and an affiliate of GE Capital, announced today that it closed five financing commitments totaling $625 million, including two refinancing transactions of existing portfolio companies, during the third quarter of 2012. Since January 1, 2010, the SSLP has committed approximately $7.9 billion to middle-market borrowers.
Below is a brief description of two of these recent SSLP transactions.
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Applebee's Franchisee Receives Funding for Acquisition
SCOTTSDALE, Ariz. (November 6, 2012) --- GE Capital, Franchise Finance recently provided a $74 million loan to Team Schostak Family Restaurants, an Applebee's International, Inc. and Burger King® franchisee. The financing will be used to fund the acquisition of 65 new Applebee's units.
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New trend in company car and van sector identified by GE Capital
Manchester, 2nd November 2012: Employers are moving to make drivers of company vehicles more responsible for their condition in an attempt to minimise end-of-contract charges and reinforce residual values, reports GE Capital's Fleet Services division.
The company says that, among its customer base, a number of employers are either implementing new and more stringent driver policies in this area or tightening up on existing ones.