News — GE Capital
GE Capital Provides $4.1 MM to Jimmy John’s Franchisee
GE Capital, Franchise Finance provided a $4.1 million credit facility to Hinz JJ, a Jimmy John’s franchisee. The financing included $2.6 million to refinance debt and a $1.5 million development line of credit.
Read more...Date Posted May 16, 2012
GE Says GE Capital Planning $4.5 Billion 2012 Dividend
GE announced that GE Capital has declared a quarterly dividend of $475 million payable to its parent in the second quarter. GE also said GE Capital plans a $4.5 billion special dividend to GE in 2012.
Read more...Date Posted May 16, 2012
GE Capital Provides $80MM to Fox and Hound Restaurant Group
GE Capital, Franchise Finance said it provided an $80 million senior credit facility to F&H Acquisition, a restaurant company majority-owned by affiliates of Newcastle Capital Management and Steel Partners Holdings.
Read more...Date Posted May 11, 2012
GE Capital Fleet Services Launches New Tablet, Mobile App
GE Capital Fleet Services launched IntelliGauge, a mobile fuel and CO2 calculator application for iPads, smartphones and desktops that allows users to compare components of their current vehicles against future vehicles.
Read more...Date Posted May 11, 2012
GE Capital Provides ABL Facility to TowerJazz
TowerJazz, a global specialty foundry leader, said it has signed an asset-based credit line agreement with GE Capital to provide up to $50 million, with a cap of $30 million until June 2013.
Read more...Date Posted May 9, 2012
GE Capital Conducts First Mid-Market Survey of Canadian CFOs
According to the first Canadian Mid-Market CFO Survey by GE Capital, Canada, Canadian chief financial officers’ number one concern as it relates to the growth and stability of the Canadian economy is the future health of the U.S. economy.
Read more...Date Posted May 7, 2012
GE Capital Coal-Plant Bankruptcy Plan Spurs Cut on Debt
Bloomberg reported that GE Capital is weighing a prepackaged bankruptcy for the debt issuer on a coal-fired power plant being taken back from Edison Mission Energy, spurring S&P to cut the rating on $640 million of notes.
Read more...Date Posted May 7, 2012
GE Capital: General Manufacturing CFOs Optimistic
General manufacturing CFOs are more optimistic about the current state of their industry as well as that of the overall U.S. economy, according to the latest U.S. Mid-Market CFO Survey by GE Capital.
Read more...Date Posted May 4, 2012
GE Capital: Healthcare CFOs Cautious About State of Industry
U.S. CFOs of middle-market companies in the healthcare industry continue to express concern over the state of their industry, while growing slightly more positive about the U.S. economy, according to the latest U.S. Mid-Market CFO Survey by GE Capital.
Read more...Date Posted May 3, 2012
Penske Truck Leasing, GE Capital Extend Partnership
Penske Truck Leasing said it has completed a series of transactions that include new equity investments from its existing partners, including GE Capital, and the partners have agreed to extend the term of the partnership to 2023.
Read more...Date Posted May 1, 2012
GE Capital: Positive Momentum for 2012 Construction Industry
In its Spring 2012 Industry Research Monitor on the construction industry, GE Capital noted that small but consistent quarterly improvements in virtually all metrics give positive momentum for 2012.
Read more...Date Posted April 30, 2012
Survey: Middle Market Growth to Outpace Larger Companies
The National Center for the Middle Market, a partnership between GE Capital and The Ohio State University, said the middle market grew 8.4% in the past year. Although middle-market companies expect revenue growth to slow, they are outpacing projections from large S&P businesses.
Read more...Date Posted April 26, 2012
GE Capital Provides $57MM to Apio for GreenLine Acquisition
GE Capital, Corporate Finance has provided $32 million in term financing and a $25 million asset-based revolver for Apio, a fresh-cut specialty packaged vegetable supplier. The financing was used to acquire GreenLine Foods.
Read more...Date Posted April 25, 2012
Senior Secured Loan Program Closes $751MM in Commitments
The Senior Secured Loan Program, jointly managed by an affiliate of Ares Capital and an affiliate of GE Capital, said it closed seven financing commitments totaling $751 million during the first quarter of 2012.
Read more...Date Posted April 23, 2012
Reuters: Judge Dismisses Claims Against Banks in GE Lawsuit
Reuters reported that a federal judge dismissed claims against Goldman Sachs, JPMorgan Chase and 40 other defendants that they helped mislead investors in General Electric’s $12.2 billion stock offering in 2008.
Read more...Date Posted April 19, 2012
GE Promotes its Positive Impact Amidst Criticism
General Electric is working to defend its reputation with a recently launched campaign that highlights the company’s altruism and positive impact on its communities. Earlier this month, protesters rallied in front of the company’s Fairfield, CT headquarters.
Read more...Date Posted April 18, 2012
Bid-Rigging Trial Begins for Former GE Funding Execs
The Bond Buyerreports that the big-rigging trial for three former executives at GE Funding began on Monday, April 16. Government prosecutors charged the three with fixing bids for municipal bond investment contracts between 1999 and 2006.
Read more...Date Posted April 17, 2012
GE Capital’s Mid-Market Financings Up 15% in 2011
U.S. CFOs of middle-market companies have grown more positive about the state of their businesses over the last six months, according to the latest middle-market CFO survey by GE Capital. The survey’s findings are reflected in GE Capital’s mid-market financings, which were up 15% in 2011.
Read more...Date Posted April 16, 2012
Office Imaging Industry Shipments Getting Stronger
GE Capital’s Office Imaging Team said, in remarks leading up to the ITEX Expo & Conference in Las Vegas, that total OI industry unit shipments are expected to grow 3% this year, with the fastest-growing industry segment being value-added devices paired with services and supplies.
Read more...Date Posted April 13, 2012
GE Capital Closes $225MM ABL for 84 Lumber Company
GE Capital said it is co-collateral agent and documentation agent for a $225 million asset-based loan for 84 Lumber Company, a privately held building materials and services supplier.
Read more...Date Posted April 13, 2012
Stiffer Sentence Sought for Le-Nature’s Defendant
The Pittsburgh Tribune-Review reported that federal prosecutors want to increase any prison sentence that Le-Nature’s defendant Karla Podlucky receives, arguing she used intricate means in creating fictitious companies and trusts to secretly sell nearly $3 million worth of gems.
Read more...Date Posted April 4, 2012
Moody’s Downgrades GE Due to GE Capital’s Higher Risk Profile
Moody’s said it downgraded the senior unsecured debt rating of GE and the senior unsecured rating of GE Capital. The downgrades are a result of Moody’s revised global rating methodology for finance companies and reflect the impact of GE Capital’s higher risk profile on GE.
Read more...Date Posted April 4, 2012
GE Healthcare Provides $7.5MM Credit Facility to PharmAthene
PharmAthene, a developer of medical countermeasures against biological and chemical weapons, said that it has secured $7.5 million in senior secured credit facilities from GE Capital, Healthcare Financial Services.
Read more...Date Posted April 4, 2012
GE Capital Deputy Treasurer Named GE Company Officer
GE said it appointed four new company officers, including Anne Kennelly Kratky, deputy treasurer and chief risk officer for GE Capital Treasury. GE said it has 199 officers globally that lead large revenue generating businesses or are in critical functional roles.
Read more...Date Posted March 30, 2012
GE Capital Commits to $175MM Credit Facility for Tensar
Tensar announced that GE Capital has provided an underwritten commitment for a restructured $175 million credit facility that is expected to close in April.
Read more...Date Posted March 29, 2012
GE Capital: American Restaurant Industry Traffic Improving
The American restaurant industry is starting to improve, as consumers are spending more on meals and foot traffic at establishments is increasing, albeit from a diminished base, according to the 22nd edition of the Chain Restaurant Industry Review, by GE Capital, Franchise Finance.
Read more...Date Posted March 28, 2012
GE Capital Agents $350MM Facility to Shale-Inland
GE Capital, Corporate Finance announced it is administrative agent for a $350 million asset-based credit facility to Shale-Inland Holdings to support the acquisition of HD Supply Industrial PVF, a distributor of specialty pipe, valves and fittings.
Read more...Date Posted March 28, 2012
GE Capital, Corporate Finance Hires Lending/Leasing VPs
GE Capital, Corporate Finance said it hired Matt Brewer and Tory Spadafora as VPs to specialize in meeting the lending and leasing needs of mid-size Ohio companies.
Read more...Date Posted March 27, 2012
GE Capital Agents $52MM Credit Facility for Wanzl Group
GE Capital, Corporate Finance is an administrative agent in a $52 million U.S. and Canadian cash-flow credit facility for Germany-based Wanzl Group, a manufacturer of shopping carts.
Read more...Date Posted March 27, 2012
GECAS Named 2012 ‘Lessor of the Year’
GE Capital Aviation Services announced it accepted the “2012 Lessor of the Year” award from Airline Economics magazine. The award was based on votes from more than 6,000 aviation executive around the world.
Read more...Date Posted March 26, 2012
GE Capital Provides $30MM to Popeyes Franchisee
GE Capital, Franchise Finance provided a $30 million credit facility to Shelton Restaurant Group, a Popeyes Louisiana Kitchen franchisee, to acquire 29 Popeyes units in the Lafayette, LA area.
Read more...Date Posted March 23, 2012
GE Capital Swaps Rise After Moody’s Begins Rating Review
Bloomberg reported that the cost to protect debt from GE Capital against a default rose after Moody’s said the business may receive a debt rating lower than the parent because of higher risk.
Read more...Date Posted March 21, 2012
GE Capital Provides $4.5MM to SUBWAY Franchisee
GE Capital, Franchise Finance said it provided $4.5 million to KK Group of Companies, a SUBWAY franchisee.
Read more...Date Posted March 21, 2012
GE Capital: Truck & Trailer Orders Will Continue Improvement
In its latest Spring 2012 Industry Research Monitor on Truck Transportation, GE Capital noted that high asset age, increased capacity utilization and improving used equipment valuations will continue to bolster truck and trailer orders through 2012.
Read more...Date Posted March 19, 2012
GE Capital Fleet Services Launches New Toll Management Program
GE Capital Fleet Services said it has launched a new toll management program for fleet managers that increases their visibility of and control over toll expenses, while reducing administrative tasks and cost burdens.
Read more...Date Posted March 19, 2012
GE Merges GECS Into GE Capital Corporation
In a filing, GE said it merged its wholly owned subsidiary, GE Capital Services, with and into wholly owned subsidiary, GE Capital Corporation.
Read more...Date Posted March 19, 2012
Bloomberg: GE Capital Now Seen Safer Than Biggest Banks
Bloomberg noted in article on GE Capital, that GE’s finance arm is pulling away from the largest U.S. banks in the eyes of credit traders and investors, signaling the end to more than three years of repression for declining profits during the financial crisis.
Read more...Date Posted March 16, 2012
GE Capital Provides $40MM Credit Facility to IT Reseller
GE Capital’s Commercial Distribution Finance business said it will provide $40 million in inventory financing and working capital to Redapt, a data center infrastructure solutions provider and hardware reseller based in Redmond, WA.
Read more...Date Posted March 14, 2012
GECAS Delivers New Boeing 737-800 to Japan’s Solaseed Air
GECAS announced delivery of a new Boeing 737-800 aircraft to Japanese low-cost airline Solaseed Air to help with its fleet upgrade.
Read more...Date Posted March 14, 2012
Immelt: GE Capital to Build Upon Mid-Market Lending & Leasing
In his annual letter to shareholders, GE chief executive Jeff Immelt said that he expects GE Capital’s earnings rebound to continue in 2012 and that GE Capital will build upon mid-market lending and leasing, financing in GE domains and a few other specialty finance segments.
Read more...Date Posted March 12, 2012
GE Confirms Double-Digit Earnings Growth Outlook
Commenting on GE’s 2012 outlook for double-digit earnings growth, vice chairman John Rice said in a statement that company results would include improvements in GE Capital’s real estate portfolio and growth from GE Capital’s higher margin businesses.
Read more...Date Posted March 8, 2012
GE Capital Provides $91MM to Restaurant Franchisee JIB
GE Capital, Franchise Finance provided a $91 million senior agented credit facility to JIB Management, a Jack in the Box and Denny’s franchise company.
Read more...Date Posted March 6, 2012
GECAS Delivers New Leased Airbus A320 to India’s GoAir
GECAS said it delivered a new, CFM-powered Airbus A320 to GoAir following a purchase and leaseback transaction with the airline.
Read more...Date Posted March 6, 2012
GE Capital Agents $100MM Facility to Federal Signal
GE Capital said it is co-collateral agent on a $100 million asset-based revolving credit facility for Federal Signal, a designer and manufacturer of safety and security products and systems.
Read more...Date Posted March 5, 2012
GE Capital Agents $65MM for Paradigm Management Acquisition
GE Capital served as administrative agent on a $65 million senior secured first lien credit facility for Paradigm Management Services. The funds were used to support the acquisition of Paradigm by Lightyear Capital.
Read more...Date Posted March 2, 2012
GE Capital Survey: Marine Industry’s Steady Growth to Continue
According to survey results released by GE Capital’s Commercial Distribution Finance business, marine industry participants believe they’re heading in the right direction. Thirty-nine percent of respondents said they expect sales to increase 0-5% this year, while 38% expect increases of 5%-10%.
Read more...Date Posted March 1, 2012
GE Capital Closes $3MM Term Loan Facility for MedShape
GE Capital, Healthcare Financial Services announced that it was sole lender and administrative agent on a $3 million multi-draw senior secured term loan facility to MedShape.
Read more...Date Posted February 29, 2012
GECAS Delivers Three New Airbus A320s to Airphil Express
GECAS announced delivery of three new Airbus A320 aircraft to Airphil Express in January and early February to help the carrier expand its fleet. All three aircraft are part of GECAS’ existing order book with Airbus.
Read more...Date Posted February 29, 2012
GE Capital Offers Research into Lawn, Golf, Turf Equipment
GE Capital, Americas said it has launched a new quarterly Industry Research Update for the lawn, golf and turf equipment industries. The initial research report shows that the outlook for these industries is increasingly positive.
Read more...Date Posted February 28, 2012
GE Capital Provides $19MM for Elephant & Castle Acquisition
GE Capital, Franchise Finance said it has provided a $19 million senior term loan facility to Original Joe’s Franchise Group to support the acquisition of all of the assets of Elephant & Castle Group out of bankruptcy.
Read more...Date Posted February 24, 2012
GE Capital Provides $2.7MM to Wendy’s Franchisee
GE Capital, Franchise Finance provided a $2.675 million term loan to QSC Restaurants, a Wendy’s franchisee, for a partner buyout. The funding was provided through GE Capital’s bank affiliate, GE Capital Financial.
Read more...Date Posted February 24, 2012
Building a ‘Bigger Brain’: GE Capital to Open New IT Center
GE Capital said it would open a new technology center in New Orleans this summer and will hire 300 IT professionals over the next three years. GE said, “We are investing heavily in developing software to make our things have ‘bigger brains.’”
Read more...Date Posted February 21, 2012
GE Antares Provides $142MM Facility for ThermaSys Acquisition
GE Antares, a unit of GE Capital, said it served as administrative agent on a $142 million senior credit facility to support the acquisition of ThermaSys by Wellspring Capital Management. GE Capital Markets served as sole lead arranger and bookrunner on the transaction.
Read more...Date Posted February 16, 2012
GE Capital Agents New $380 Million Facility for Lightower
GE Capital’s Telecom, Media and Technology financing business said it served as administrative agent on a new $380 million credit facility for metro fiber and bandwidth service provider Lightower Fiber Networks.
Read more...Date Posted February 15, 2012
GE: Middle-Market Manufacturers are Untapped Driver of Jobs
Top policy and business leaders examined the untapped potential of the nation’s 200,000 middle-market companies to create jobs and grow the economy in a panel discussion convened at GE’s What Works Summit on American Competitiveness.
Read more...Date Posted February 15, 2012
BG Medicine Secures $15MM Facility From GE Capital, Comerica
BG Medicine said it has entered into a $15 million secured loan facility with GE Capital, Healthcare Financial Services and Comerica Bank. The facility will provide capital for BG to further product development and commercialization plans.
Read more...Date Posted February 14, 2012
GE Capital Announces Financing Relationships with Doosan, Bobcat
GE Capital, Equipment Finance said it has extended its vendor financing relationship of more than 40 years with Bobcat Company. In addition, GE Capital is launching a new vendor financing program for Doosan-branded heavy industrial equipment.
Read more...Date Posted February 13, 2012
GE Capital Sued by AerCap For Withholding Information
Bloomberg is reporting that GE Capital was sued by units of AerCap Holdings for allegedly failing to tell the aircraft leasing company about a lawsuit in Brazil involving a bankrupt Brazilian airline.
Read more...Date Posted February 7, 2012
GE Capital Healthcare Completes $7B in Financing in 2011
GE Capital, Healthcare Financial Services said it provided more than $7 billion in financing to U.S. healthcare customers in over 200 transactions in 2011.
Read more...Date Posted February 1, 2012
GE Capital Survey: Construction Equipment Dealers Optimistic
Construction equipment dealers are looking forward to improving trends in 2012 while acknowledging the challenges facing the industry, according to survey results released by GE Capital, Dealer Finance.
Read more...Date Posted January 31, 2012
Bloomberg: GE Capital Hires Structured Finance Team Director
Bloomberg reported that GE Capital hired Erwan Stervinou as a director on its structured finance team in Hong Kong. He was previously a director of leveraged finance at United Overseas Bank, the article said.
Read more...Date Posted January 26, 2012
WSJ: U.S. Appeals Court Upholds Tax Ruling Against GE Capital
The Wall Street Journal reported a federal appeals court upheld a ruling against General Electric’s financing arm that charged the conglomerate with understating some of its taxable income.
Read more...Date Posted January 25, 2012
GE Capital Agents $610MM Asset-Based Facility for EVRAZ
GE Capital, Corporate Finance announced it is administrative agent on a $610 million asset-based credit facility for EVRAZ North America, a steel manufacturer. GE Capital Markets served as joint lead arranger and joint bookrunner.
Read more...Date Posted January 24, 2012
WSJ: GE Capital Funding Canada Raises C$950MM From Debt Issues
The Wall Street Journal reported that GE Capital Funding Canada raised a total of C$950 million (US$938.5 million) from an offering of three-year floating rate notes and 10-year fixed rate notes, citing a person familiar with the matter.
Read more...Date Posted January 24, 2012
GECAS Delivers Two New Airbus A320s to TACA Airlines
GECAS announced delivery of two new Airbus A320 aircraft to TACA Airlines to help them with fleet growth.
Read more...Date Posted January 23, 2012
GE Capital Expands Construction Finance Business
GE Capital, Dealer Finance said it is doubling its sales force to support growing retail and wholesale demand for construction equipment financing.
Read more...Date Posted January 23, 2012
GE Capital Q4 Earnings Up 58%; Margins a ‘Healthy’ 5.4%
GE said its GE Capital finance unit fourth quarter earnings were $1.6 billion, up 58% from the prior year. The company noted that volume grew to $49 billion, up 13% from the third quarter and margins remained “healthy” at 5.4%.
Read more...Date Posted January 20, 2012
Cerberus, Renco Group to Boost R.G. Steel’s Capital
The Tribune Chronicle reported that R.G. Steel said affiliates of Cerberus Capital Management and The Renco Group have committed to provide it with significant new capital that substantially improves its liquidity and provides the necessary financial strength.
Read more...Date Posted January 19, 2012
GE Capital, Franchise Finance Provides $18MM to Feast Foods
GE Capital, Franchise Finance provided $18 million to Feast Foods, a Jack in the Box franchisee. The financing includes a $16.3 million term loan for the acquisition of 51 Jack in the Box units and a $1.7 million development line of credit.
Read more...Date Posted January 17, 2012
GE Capital: Short-Term IT Spending Outlook Uncertain
GE Capital reported in its latest Industry Research Monitor on technology and business services that, given the current macroeconomic uncertainty, outlook for IT spending, particularly in the financial services sector, remains uncertain.
Read more...Date Posted January 16, 2012
Reuters: GE Ordered to Defend Lawsuit Tied to 2008 Crisis
Reuters reported that a federal judge refused to dismiss a lawsuit accusing GE and its CEO of misleading investors about the conglomerate’s financial health and exposure to risky debt during the 2008 financial crisis.
Read more...Date Posted January 16, 2012
Senior Secured Loan Program Completes $3.9B in Financings
The Senior Secured Loan Program, jointly managed by Ares Capital and an affiliate of GE Capital, announced it completed $3.9 billion in transactions to middle market borrowers and private equity sponsors during 2011.
Read more...Date Posted January 12, 2012
GE Capital Provides $3.4B in Telecom, Media, Tech Financing
GE Capital said its Telecom, Media and Technology financing business completed 38 deals totaling $3.4 billion in financing during 2011.
Read more...Date Posted January 11, 2012
GE Capital Provides $65MM Asset-Based Facility to Navarro
GE Capital, Corporate Retail Finance is administrative agent and sole lender on a $65 million asset-based credit facility for Navarro Discount Pharmacy, an Hispanic-owned community drug store retailer in the U.S. The financing will be used to refinance debt and for general corporate purposes.
Read more...Date Posted January 9, 2012
WSJ: GE Capital Markets $4B of Bonds
The Wall Street Journal reported that GE Capital has marketed $4 billion of bonds in three parts.
Read more...Date Posted January 9, 2012
GE ‘Optimistic’ on Reaching Solution With Maryland Steel Mill
The Baltimore Sun reported GE Capital said the company remains “optimistic” that a solution can be reached with a Maryland steel mill after Governor Martin O’Malley asked Jeffrey Immelt to reconsider GE’s decision to freeze some of R.G. Steel’s funds.
Read more...Date Posted January 6, 2012
Maryland Governor Asks Immelt to Unfreeze R.G. Steel Funds
The Baltimore Sun reported that Maryland Governor Martin O’Malley has asked GE chairman and CEO Jeffrey Immelt to reconsider GE Capital’s decision to freeze some of R.G. Steel’s funds, saying the move has contributed to the firm’s decision to lay off workers.
Read more...Date Posted January 3, 2012
XOMA Secures $10MM Term Loan With GE Capital HFS
XOMA, a pharmaceutical company focused on the development of antibody therapeutics, entered into a $10.0 million 42-month secured term loan agreement with GE Capital, Healthcare Financial Services.
Read more...Date Posted January 3, 2012
GECAS Places Order for Two Additional ATR 72-600s
GECAS and ATR announced an order for two additional ATR 72-600 turboprop aircraft, and two options. This is a follow-on to GECAS’ first-ever ATR order placed in June at the Paris Air Show.
Read more...Date Posted December 29, 2011
GE Capital, Merrill, UBS Arrange $610MM ABL Refi for Evraz
Evraz, Russia’s largest steelmaker, said its North American division agreed to borrow as much as $610 million to refinance its existing debt. GE Capital Markets, Merrill Lynch and UBS acted as joint-lead arrangers for the deal, which was structured as an ABL revolver.
Read more...Date Posted December 28, 2011
GE Funding Settles Justice Dept Case for ‘Last Look’ Conduct
The Justice Department said GE Funding admitted to what was characterized by one state AG as “last look” conduct by former traders in the municipal bond investment market and agreed to pay $70 million to federal and state agencies.
Read more...Date Posted December 27, 2011
GE Capital to Acquire MetLife Depository Business
MetLife said that GE Capital Financial will acquire approximately $7.5 billion in MetLife Bank deposits, including certificates of deposit and money market accounts.
Read more...Date Posted December 27, 2011
CFO: Oiling the Leadership Machine at GE
In a CFO Q&A, Peter Mondani, GE’s VP of financial leadership development and human resources, discussed how GE locates its new talent and develops its future finance leaders right out of college.
Read more...Date Posted December 22, 2011
GE Capital: Q3 New Construction Equipment Shipments Up 44.6%
In its latest report on the construction industry, GE Capital said shipments of new construction equipment continued to improve increasing 44.6% year-over-year in Q3/11.
Read more...Date Posted December 21, 2011
GE Capital Provides Financing in Driven Brands Acquisition
Harvest Partners completed the acquisition of Driven Brands in partnership with management from Carousel Capital. GE Capital’s Senior Secured Loan Program provided senior debt.
Read more...Date Posted December 20, 2011
HNA Group, Bravia Capital Complete Acquisition of GE SeaCo
HNA Group of China and Bravia Capital of Hong Kong announced the completion of the acquisition of GE SeaCo. The company has been rebranded as Seaco. All of Seaco’s key management, including CEO David G. Amble, will remain with the company.
Read more...Date Posted December 16, 2011
GE Capital, Tech Data Launch Digital Signage Program
Tech Data announced an expansion of its digital signage business through a distribution agreement with Saddle Ranch Digital, which includes a financing arrangement with GE Capital, Americas.
Read more...Date Posted December 12, 2011
GE Capital Provides Financing to Buffalo Wild Wings Franchisee
GE Capital, Franchise Finance provided $2.8 million in financing to Four M Capital, a Buffalo Wild Wings Bar and Grill franchisee, for two new store openings and to supplement an $8.7 million financing extended in 2010.
Read more...Date Posted December 8, 2011
GE Capital Says CLL Volume Up 30%; Continues to Shrink Assets
At its annual investor meeting, GE Capital said its overall ending net investment at year-end 2012 is expected to shrink to $440 billion, having peaked at about $600 billion in 2008. The company noted that its CLL 2011 volume is expected to be 30% higher compared to last year.
Read more...Date Posted December 7, 2011
GE Capital Provides $21.5MM to Dunkin’ Donuts Franchisee
GE Capital, Franchise Finance said it provided a $21.5 million credit facility to The Beekman Group’s portfolio company, TBG Food Acquisition, a Dunkin’ Donuts franchisee operating company.
Read more...Date Posted December 6, 2011
GE Capital Provides $20MM in Inventory Financing to Govplace
GE Capital’s Commercial Distribution Finance business announced a $20 million facility for Govplace, a Reston, VA-based provider of enterprise information technology solutions to public sector clients.
Read more...Date Posted December 6, 2011
Alabama Supreme Court Reverses $8.6MM Verdict Against GECAS
According to court documents, the Alabama Supreme Court reversed an $8.6 million verdict against GECAS in a breach of contract suit filed by Pemco World Air Service. The justices sent the case back to trial court.
Read more...Date Posted December 5, 2011
GE Capital Healthcare Provides $10MM Facility to InfraReDx
GE Capital, Healthcare Financial said it was the sole lender on a $10 million senior secured term loan to InfraReDx, a medical device company focused on the diagnosis and management of coronary artery and other vascular diseases.
Read more...Date Posted December 5, 2011
Bloomberg: The Slimming Down of GE Capital
Bloomberg noted in a news story that ever since the financial crisis hit in 2008, GE Capital’s heavy exposure to finance has weighed on the parent’s share price. However, since then, the finance unit’s assets have been trimmed to $452 billion, down from more than $550 billion when the crisis hit.
Read more...Date Posted December 2, 2011
GE healthymagination Fund Invests in C8 MediSensors
GE Capital and GE Healthcare announced an investment in C8 MediSensors, a developer of non-invasive continuous glucose monitors for diabetic patients. The investment is being made through the GE healthymagination Fund.
Read more...Date Posted December 2, 2011
GE Capital Retail Bank 43rd Largest in U.S.
In its recent rankings of the largest U.S. banks by asset size, SNL shows JPMorgan Chase as the largest bank in the U.S. with total assets at the end of Q3 of $2.27 trillion. Moving up in the rankings from last year was GE Capital Retail Bank, now ranked #43 versus #49 one year ago.
Read more...Date Posted November 30, 2011
Harvard Fellowship Created in Memory of Former GECAS President
Friends of Henry Hubschman have set up a fellowship in his memory at Harvard Kennedy School and Harvard Law School. During his career, Hubschman served as general counsel of GE’s Aircraft Engines Division, then became president and CEO of GECAS.
Read more...Date Posted November 29, 2011
Radius Closes Tranche With GE Capital Healthcare, Oxford
Radius Health said it closed the second of its three-tranche $91 million financing round announced in May 2011. The $27.65 million second tranche included $6.25 million in debt financing from GE Capital, Healthcare Financial Services and Oxford Finance.
Read more...Date Posted November 29, 2011
GECAS to Lease Two Airbus A330-300s to China Airlines
GECAS said it will lease two new Airbus A330-300 aircraft to China Airlines to further expand its fleet.
Read more...Date Posted November 29, 2011
GE Capital Provides Accolade Wines $234MM ABL Facility
GE Capital said it has provided Accolade Wines, the largest wine company by volume in Australia and the UK, with a £150 million ($234 million) ABL cross border financing facility.
Read more...Date Posted November 23, 2011
