PRZOOM - /newswire/ -
Norwalk, CT, United States, 2012/01/09 - GE Capital, Corporate Retail Finance today announced it is administrative agent and sole lender on a $65 million asset-based credit facility for Navarro Discount Pharmacy, LLC, a leading Hispanic-owned community drug store retailer in the U.S (NYSE: GE). NYSE: GE
The financing will be used to refinance debt and for general corporate purposes.
Founded in 1960, Miami, Florida-based Navarro Discount Pharmacy, LLC, is the largest Hispanic-owned retail drug chain in the U.S. with thirty stores in South Florida. Catering to the Hispanic market, Navarro’s stores feature an array of consumer goods including fragrances, electronics, health and beauty care, food and household products.
“GE Capital understands retailing and has a great deal of experience financing drug stores,” said Juan Ortiz, chief executive officer of Navarro Discount Pharmacy, LLC. “This allowed us to secure the right capital structure to help build our business.”
“Providing growth capital to retailers is one of our specialties,” said Jim Hogan, senior managing director, GE Capital, Corporate Retail Finance. “Working with clients to understand their needs and structuring smarter financing to fuel their plans is what we do.”
About GE Capital, Corporate Retail Finance
GE Capital, Corporate Retail Finance is a leading provider of senior secured loans to retailers, primarily in the U.S., to support working capital, growth, acquisitions and more. Funding may be provided through GE Capital, Corporate Retail Finance’s affiliate, GE Capital Financial Inc., member FDIC. With Access GE, clients also benefit from access to GE’s best practices. Visit gelending.com/clnews.
GE Capital offers consumers and businesses around the globe an array of financial products and services. For more information, visit gecapital.com or follow company news via Twitter (@GECapital). GE ge.com) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance.
Jeff Wilson - GE Capital, Corporate Finance
P: +1 203 749 6340 / E: Jeffrey.Wilson[.]ge.com.