GE Capital agents USD505m debtor-in-possession financing to Borders.
M2 EQUITYBITES-February 21, 2011-GE Capital agents USD505m debtor-in-possession financing to Borders(C)2011 M2 COMMUNICATIONS http://www.m2.com
GE Capital, Restructuring Finance has provided a USD505m debtor-in-possession (DIP) credit facility to Borders Group Inc, a specialty book retailer.
Announcing this on Friday, GE said that the financing will be used by Borders for working capital as the company reorganises under Chapter 11.
GE Capital, Restructuring Finance is serving as the administrative agent and GE Capital Markets is serving as the sole lead arranger.
GE Capital, Restructuring Finance, a business division of General Electric company (NYSE:GE), is a provider of senior secured loans to distressed companies supporting Chapter 11 filings, plan-of-reorganizations and out-of-court restructurings.
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|Publication:||M2 EquityBites (EQB)|
|Date:||Feb 21, 2011|
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