American Lawyer Media Finalizes $40MM Credit Line With General Electric Capital Corporation.Business Editors NEW YORK--(BUSINESS WIRE)--May 1, 2002 American Lawyer Media ALM (formerly American Lawyer Media), is a leading integrated media company, focused on the legal and real estate communities. ALM owns and publishes 33 national and regional magazines and newspapers focused on the legal and real estate communities, including , Inc. (ALM), the nation's leading legal journalism and information company, today announced that General Electric Capital Corporation (GECC GECC General Education Core Curriculum GECC General Electric Credit Corporation GECC Group Enabled Cluster Compiler GECC Geelong Ethnic Communities Council GECC Glen Ellyn Children's Chorus (Glen Ellyn, Illinois) ) will provide ALM's operating subsidiary, The New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Law Publishing Company, with a $40 MM revolving credit Revolving Credit A line of credit where the customer pays a commitment fee and is then allowed to use the funds when they are needed. It is usually used for operating purposes, fluctuating each month depending on the customers current cash flow needs. facility. The credit facility will significantly expand funds available to the company and will replace existing bank facilities. Proceeds from the credit lines will be used to refinance existing indebtedness, provide working capital for the company and finance capital expenditures. The term of the agreement with GECC is 60 months. "We are extremely pleased to be entering this new relationship with one of the nation's highest-rated lenders," said Stephen Jacobs, CFO See Chief Financial Officer. of ALM. "This represents a major increase in credit availability for our company, and we look forward to working closely with GECC over the next five years." Headquartered in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , ALM is a leading integrated media company, focused on the legal industry. ALM currently owns and publishes 24 national and regional legal magazines and newspapers, including The American Lawyer(R) and The National Law Journal(R). ALM's other businesses include book, custom and newsletter publishing, production of legal trade shows and conferences, educational seminars and distribution of content related to the legal industry. ALM also operates the nation's most comprehensive court verdict and settlement reporting system, available online at www.verdictsearch.com. ALM was formed by U.S. Equity Partners, L.P., a private equity fund sponsored by Wasserstein & Co., LP. More information on ALM, its business and services is available on the Web at www.americanlawyermedia.com. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion