PRZOOM - /newswire/ -
Norwalk, CT, United States, 2011/06/28 - GE Capital, Corporate Finance announced it is co-collateral agent on a $115 million senior secured credit facility for Grede Holdings LLC, a diversified iron casting supplier (NYSE: GE). NYSE: GE
The financing will be used for acquisitions and working capital needs. GE Capital Markets is co-lead arranger.
Southfield, MI-based Grede Holdings specializes in the design and manufacture of iron cast, machined and assembled components for the transportation and industrial markets, including agriculture, construction, rail and wind energy. The company has 15 foundries and three machining operations in North America.
“GE Capital has a great deal of experience in the metals industry and capital markets,” said Doug Grimm, chairman, president and chief executive officer for Grede Holdings,“This helped us quickly secure flexible financing to accelerate our business plans.”
“Financing the growth objectives of companies in the metals and mining sector is one of our specialties,” said Tom Quindlen, president and chief executive officer of GE Capital, Corporate Finance. “We work collaboratively with clients to understand their needs and provide the capital and industry insight to help fuel success.”
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: aerospace and defense; automotive and transportation; chemicals and plastics; construction and building products, 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. Funding may be provided through GE Capital, Corporate 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) is an advanced technology, services and finance company taking on the world’s toughest challenges.
Ned Reynolds, GE Capital, Americas
P: +1 203 229 5717 / M: +1 203 837 0699 / E: ned.reynolds[.]ge.com.