GE - Global Media & Communications Provides Financing to Global Out-of-Home Advertiser Titan Worldwide.
The funds were used to refinance an existing credit facility and to finance acquisitions.
Working with GE Capital Markets, co-bookrunner and co-arranger for the transaction, GE - Global Media & Communications provided $27.5MM USD, [pounds sterling]6.88 GBP and [euro]11.95MM EUR toward the facility which totaled $55.0MM USD, [pounds sterling]13.75 GBP and [euro]23.9MM EUR.
"We value our relationship with Welsh Carson Anderson & Stowe and are delighted that we had the opportunity to support their growth ambitions to continue Titan's rise as a global leader in out-of-home advertising," said Mark DeCruccio, managing director, GE - Global Media & Communications. "We look forward to working with WCAS in the future."
Titan Worldwide is the world's largest privately owned, full service out-of-home advertising company providing sales, marketing and maintenance of transit, billboard, wallscape, telephone kiosk, street banner, shopping mall, supermarket and construction bridge advertising. Titan Worldwide furnishes global, national and local clients with creative media solutions in leading global markets, including New York, New Jersey, Los Angeles, San Francisco, Philadelphia, Seattle, Tacoma, Boston, Orange County, Toronto, The Republic of Ireland and the United Kingdom.
"GE demonstrated its ability to structure complex cross-border facilities with different currencies quickly and reliably," said Don Allman, Titan's president and chief executive officer. "The GE team was extremely flexible and responsive, which is what we look for in a financier."
"GE is very pleased to support Titan with this financing," said Chris Mangan, managing director, GE - Global Media & Communications. "It will be exciting to watch as the company continues its growth both in the UK and around the globe."
About GE Commercial Finance - Global Media & Communications
With over $7 billion in assets, and offices in Atlanta, Beverly Hills, Boston, Chicago, Hong Kong, London, New York, Norwalk, Palo Alto and San Francisco, Global Media & Communications represents a one-stop source for the comprehensive range of GE's debt and equity financing services offered to the telecom, media, technology (TMT) and entertainment marketplace. www.gegmc.com.
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: GE) is Imagination at Work - a diversified technology, media and financial services 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|
|Date:||Nov 27, 2006|
|Previous Article:||ADDING MULTIMEDIA Gordon Russell Decks out High-Profile Boardrooms with Furniture Designed in SolidWorks.|
|Next Article:||NeuroLogica Reports Record Growth in 2006.|