NewswireToday - /newswire/ -
Norwalk, CT, United States, 2013/10/07 - GE Capital, Corporate Retail Finance announced it is administrative agent and sole lender on a $100 million senior secured credit facility for Samuels Jewelers [NYSE:GE] - GELending.com / GECapital.com. NYSE: GE
The proceeds will be used to refinance existing debt and to support ongoing working capital needs. GE Capital Markets served as lead arranger.
Founded in 1891 and headquartered in Austin, TX, Samuels Jewelers sells contemporary and uniquely styled fine jewelry online and through its retail stores located across the U.S. The company focuses on providing value through innovation, creativity and personal attention.
“GE Capital knows our company well, and works closely with us to provide the financing we need to run our business,” said Robert Herman, CFO for Samuels Jewelers. “We particularly value their ability to finance our unique inventory and receivables.”
“Our team specializes in customizing loans that provide retailers with capital and flexibility to help them succeed,” said Jim Hogan, senior managing director, GE Capital, Corporate Retail Finance. “As the economy slowly recovers, we continue to put our balance sheet to work to support mid-market retailers.”
About GE Capital, Corporate Retail Finance
GE Capital, Corporate Retail Finance is a leading provider of senior secured loans and equipment finance to U.S. retailers supporting growth, working capital, acquisitions, turnarounds and balance sheet optimization. Funding may be provided through GE Capital, Corporate Retail Finance’s affiliate, GE Capital Bank, Member, FDIC. With Access GE, clients also benefit from access to GE’s best practices to help build their business. Visit gelending.com/clnewsor.
GE Capital (gecapital.com) offers consumers and businesses around the globe an array of financial products and services. GE (ge.com) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance.
Contact: Jeff Wilson - GE Capital, Corporate Finance
P: +1 203 749 6340 - E: Jeffrey.Wilson[.]ge.com.