GE Capital Provides Rush Enterprises with $850MM Inventory Financing

Rush Enterprises and a syndicate of lenders have entered into an amended credit facility that will provide $850 million of revolving credit loans to finance the company’s purchase of new and used vehicle inventory and to finance the company’s working capital needs.

The revolving credit loans consist of: $640 million of revolving A loans; $100 million of revolving B loans; and $110 million of revolving C loans, according to an SEC filing.

According to the filing, GE Capital Commercial will serve as administrative agent and collateral agent for the lender group that consists of Bank of the West, Comerica Bank, MassMutual Asset Finance, PNC Bank, CIT Finance, Bank of Texas, Wells Fargo and Bank of America.

GE Capital Markets served as sole lead arranger and bookrunner on the transaction.

Like this story? Begin each business day with news you need to know! Register now for FREE Daily E-News Broadcast and start YOUR day informed!

  • Hidden
  • RAM Group Holdings does not share or sell your personal information. The information we ask you to furnish is limited to what is needed to process your order fully and completely. You may unsubscribe at any time. View our Privacy Policy.
  • Please Confirm permission for Monitor/Monitordaily to e-mail you.
  • Hidden

Leave a comment

View Latest Digital Edition

Terry Mulreany
Subscriptions: 800 708 9373 x130
Susie Angelucci
Advertising: 484.459.3016

View Latest Digital Edition

Visit our sister website for news, information, exclusive articles,
deal tables and more on the asset-based lending, factoring,
and restructuring industries.