Reuters: GE Capital Buys $450MM Portfolio from CIT

Reuters reported GE Capital bought a $450 million portfolio of European loans from CIT. The sale was agreed to after GE Capital became the preferred buyer in a competitive auction process, Reuters reported.

According to Reuters, the portfolio consists of mid-market leveraged loans. More than 50% are for UK companies and the rest are loans for continental European companies.

Reuters reported one of the larger loans in the portfolio is UK childcare nursery provider Busy Bees. Other loans include healthcare companies Clinisys Group and weather data and forecasting business MeteoGroup, which was acquired by General Atlantic in December 2013, according to Reuters.

To view the full Reuters report, click here.

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