PRZOOM - /newswire/ -
Norwalk, CT, United States, 2009/12/08 - GE Capital, Corporate Finance today announced it is administrative agent for a $168 million cash flow credit facility for Blount International, Inc., a leading outdoor products manufacturer (NYSE: GE) (NYSE: BLT). NYSE: GE
The loan amends and extends an existing facility, and will be used for working capital needs. GE Capital Markets served as sole lead arranger.
Headquartered in Portland, OR, Blount International, Inc. produces chainsaw components and accessories, concrete-cutting equipment, lawnmower blades and gear components for customers worldwide. The company has approximately 3,500 employees, and manufacturing operations in the U.S., Canada, Brazil and China.
“Since 2003, GE has helped meet our capital needs as our company has grown,” said Calvin Jenness, senior vice president and CFO for Blount International, Inc. “We appreciate both the long term relationship and significant financial commitments from GE Capital.”
“Providing businesses with the right financing to meet their objectives is our specialty,” said Tom Quindlen, president and CEO of GE Capital, Corporate Finance. “In-depth knowledge of manufacturing and distribution, loan structuring expertise and an ability to commit large amounts of capital means smarter liquidity for borrowers.”
About GE Capital, Corporate Finance
GE Capital, Corporate Finance is one of the largest providers of asset-based, cash flow and structured loans and leases for mid-size and large U.S. businesses. Financing supports working capital, growth, acquisitions, turnarounds and balance sheet optimization in key sectors: Aerospace & Defense, Automotive & Transportation, Chemicals & Plastics, Corporate Aircraft, Financial & Business Services, Food, Beverage & Agribusiness, Government Finance, Manufacturing, Marine, Metals & Mining, Paper, Packaging & Forest Products, Retail, Technology & Electronics. 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 (@GECapitalNews). GE (ge.com) is Imagination at Work - a diversified technology, media and financial services company focused on solving some of the world's toughest problems.
Jeff Wilson,GE Capital, Corporate Finance
P: +1 203 749 6340
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