PRZOOM - /newswire/ -
Norwalk, CT, United States, 2013/05/10 - GE Capital, Corporate Finance announced it is serving as administrative agent on a $250 million senior secured credit facility for Neenah Enterprises, Inc., a leading iron castings manufacturer (NYSE: GE) - GECapital.com. NYSE: GE
The loan is being used to refinance existing debt and to support ongoing working capital needs. GE Capital Markets served as lead arranger.
Founded in 1872 and based in Neenah WI, Neenah Enterprises, Inc., is one of the largest independent foundry companies in the U.S. Neenah produces metal castings and steel forgings, and provides a variety of auxiliary services such as machining, painting and heat treatment, serving municipalities and industrial companies.
“GE Capital continues to deliver the financing we need to grow our business,” said Tom Adrians, CFO for Neenah Enterprises, Inc. “We value having a lender that has deep metals industry knowledge and experience.”
“We have worked closely with Neenah Enterprises over the past few years, so we understand their business and their goals,” said Paul Feehan, senior managing director, metals and mining at GE Capital, Corporate Finance. “We specialize in providing capital to help build middle-market metals companies and support their business objectives.”
About GE Capital, Corporate Finance
GE Capital, Corporate Finance (gecapital.com) provides asset-based, cash flow and structured loans and leases to mid-size and large U.S. businesses. Financing supports working capital, growth, acquisitions, turnarounds and balance sheet optimization in key sectors: Aerospace and defense; automotive and transportation; chemicals and plastics; construction and building products, corporate aircraft; energy; food and beverage; manufacturing; marine; metals and mining; paper, packaging and forest products; retail; and technology and electronics. With Access GE, clients also benefit from access to GE’s best practices to help build their business.
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Ned Reynolds - GE Capital, Americas
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