GE Corporate Lending Provides $95 Million to Support the Acquisition of U.S. Corrugated.NORWALK, Conn. -- GE Commercial Finance - Corporate Lending today announced that it has served as administrative agent for a $95-million cash flow credit facility to support the acquisition of US Corrugated cor·ru·gate v. cor·ru·gat·ed, cor·ru·gat·ing, cor·ru·gates v.tr. To shape into folds or parallel and alternating ridges and grooves. v.intr. (formerly known as Lin Pac, Inc.), a vertically integrated corrugated packaging producer, from LINPAC Group Limited, U.K. GE will also provide interest rate risk management products and services. GE Capital Markets was lead arranger Lead arranger The senior tier of arranger of the facility, which consisted of a $30-million revolver revolver: see small arms. revolver Pistol with a revolving cylinder that provides multishot action. Some early versions, known as pepperboxes, had several barrels, but as early as the 17th century pistols were being made with a revolving chamber to , a $45-million term loan, and a $20-million second lien loan A Second Lien Loan is a simple loan with a subordinated security (finance) structure or no security at all (unsecured debt), meaning that the borrower grants another provider of a finance instrument (eg. . "The GE team demonstrated a true understanding of the challenges and opportunities in the paper and packaging sector," said Thomas Uleau, Chief Financial Officer, U.S. Corrugated. "They delivered what they promised, and structured the acquisition financing to help maximize liquidity and flexibility." Added Allan Wieman, Paper, Packaging and Forest Products Industry Leader, GE Corporate Lending, "We are dedicated to understanding and serving the financing requirements of companies such as U.S. Corrugated, and plan to continue to innovate in·no·vate v. in·no·vat·ed, in·no·vat·ing, in·no·vates v.tr. To begin or introduce (something new) for or as if for the first time. v.intr. To begin or introduce something new. to meet their evolving needs." Prior to this acquisition, U.S. Corrugated was called Lin Pac, Inc., a corrugated packaging manufacturer and supplier based in Atlanta, Georgia. The business primarily serves the South East U.S. packaging market producing recycled liner-board, corrugating medium, corrugated sheets, boxes and point-of-sale displays. Industry Specialization A career option pursued by some attorneys that entails the acquisition of detailed knowledge of, and proficiency in, a particular area of law. As the law in the United States becomes increasingly complex and covers a greater number of subjects, more and more attorneys are To better meet the unique financing needs of customers, GE Corporate Lending has a team of Industry Leaders supported by dedicated research analysts. The Industry Leaders, work closely with GE Corporate Lending's regional client teams to build customized financing solutions for companies across key industries: Aerospace & Defense; Automotive & Automotive Parts; Chemicals & Plastics; Food, Beverage & Agriculture; Financial & Business Services, General Manufacturing; Paper, Packaging & Forest Products; Steel & Diversified diversified (di·verˑ·s Metals; Technology; and Transportation & Construction. The industry-aligned approach also builds on GE Corporate Lending's experience as a leading provider of financial solutions for the Retail industry and for companies in need of Turnaround and Restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). Finance. About GE Corporate Lending With $14 billion in assets, GE Commercial Finance Corporate Lending is one of North America's largest providers of asset-based, cash flow, structured finance and other complimentary solutions for mid-size and large companies. From over 30 offices throughout the U.S. and Canada, Corporate Lending specializes in serving the unique needs of borrowers seeking $10 million to $1 billion and more for working capital, growth, acquisitions, project finance and turnarounds. Visit gelending.com for more information. About GE Commercial Finance GE Commercial Finance, which offers businesses around the globe an array of financial products and services, has assets of over $206 billion and is headquartered in Norwalk, Connecticut. GE (NYSE NYSE See: New York Stock Exchange : GE) is Imagination at Work - a diversified technology, media and financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. company focused on solving some of the world's toughest problems. GE serves customer in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit the company's website at ge.com. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion