NewswireToday - /newswire/ -
Chicago, IL, United States, 2015/01/28 - GE Capital, Corporate Finance announced it is providing a $400 million credit facility to help fund the acquisition of Wise Metals Intermediate Holdings LLC (Wise) by Constellium N.V., a global producer of aluminum products [NYSE and Euronext: CSTM]. NYSE: GE
Wise is North America’s third-leading producer of aluminum can sheet for the beverage industry. GE Capital Markets served as lead arranger and joint bookrunner on the facility.
Constellium, headquartered in Amsterdam, the Netherlands, supplies aluminum products to industries including aerospace, automotive and packaging. The acquisition of Wise, which has one of the widest hot strip mills in North America, is expected to grow Constellium’s overall production capacity and contribute to its North American platform for body-in white automotive sheet production.
GE Capital’s relationship with Wise and understanding of the metals industry made them a strong partner for our lending needs,” said Mark Kirkland, group treasurer for Constellium. “Working with a lender who has experience in our industry and in financing acquisitions is a value add as we grow our company.”
“Providing financing in connection with this acquisition allows for a great opportunity for both companies,” said Paul Feehan, senior managing director for GE Capital, Corporate Finance. “Our deep expertise in metals and mining means we can provide companies with the best financing solution to help fund their growth.”
About GE Capital, Corporate Finance
GE Capital, Corporate Finance (geccf.com) provides asset-based, cash flow and structured loans and leases to mid-size and large U.S. businesses expanding in North America, Asia and Europe. Financing supports working capital, growth, acquisitions, turnarounds and balance sheet optimization in key sectors: aerospace; automotive and transportation; chemicals and plastics; construction and building products, corporate aircraft; oil and gas; food and beverage; manufacturing; marine; metals and mining; paper, packaging and forest products; retail; and technology and electronics. With Access GE, clients also benefit from access to GE’s best practices to help build their business.
GE Capital (gecapital.com) offers 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.