Printer Friendly

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.

((Comments on this story may be sent to info@m2.com))

COPYRIGHT 2011 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2011 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:M2 EquityBites (EQB)
Date:Feb 21, 2011
Words:126
Previous Article:Pioneer Natural Resources Company disposes Tunisia subsidiaries for USD866m.
Next Article:GE Capital raises credit facility to Nexus to USD80m.
Topics:

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters