PRZOOM - /newswire/ -
Norwalk, CT, United States, 2010/09/02 - Based in Baton Rouge, LA, H&E Equipment Services (Nasdaq-GS: HEES) is one of the nation’s largest equipment services companies focused on heavy commercial and industrial equipment (NYSE: GE). NYSE: GE
GE Capital, Corporate Finance today announced it is administrative agent for a newly amended and extended $320 million revolving credit facility to H&E Equipment Services, Inc., one of the nation’s largest equipment services companies focused on heavy commercial and industrial equipment. The credit facility will continue to be used for working and growth capital. GE Capital Markets served as joint lead arranger.
Baton Rouge, LA-based H&E Equipment Services rents, sells and provides parts and services for hi-lift or aerial work platform equipment, cranes, industrial lift trucks, earthmoving and other heavy equipment. The company has 68 facilities throughout the U.S. servicing industrial and commercial companies, construction contractors, public utilities, municipalities and maintenance contractors.
“Since 2002, GE Capital has provided both the liquidity and flexibility we’ve needed despite periods of economic uncertainty,” said John Engquist, chief executive officer of H&E Equipment Services. “GE’s significant financial commitment and favorable terms provide us the means to foster our business plans.”
“The equipment services business is capital-intensive and cyclical," said Tom Quindlen, president and chief executive officer of GE Capital, Corporate Finance. "Providing capital requires industry experience and insight, and we work closely with clients through cycles."
About GE Capital, Corporate Finance
GE Capital, Corporate Finance 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: Automotive and transportation; chemicals and plastics; corporate aircraft; financial and business services; food, beverage and agribusiness; 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. 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 / E: Jeffrey.Wilson[.]ge.com.