NewswireToday - /newswire/ -
Norwalk, CT, United States, 2010/08/20 - GE Capital, Corporate Finance today announced it is administrative agent for a $425 million cash flow credit facility to Blount International, Inc., a leading outdoor products manufacturer (NYSE: BLT). NYSE: GE
The loan amends and extends an existing $165 million facility and will be used to refinance debt and for acquisitions. GE Capital Markets served as sole lead arranger.
Headquartered in Portland, OR, Blount International, Inc. (NYSE: BLT) is a global manufacturer and marketer of replacement parts, equipment, and accessories for the forestry, lawn and garden, and outdoor power equipment sectors, and is the market leader in manufacturing saw chain and guide bars for chain saws.
“For over seven years now GE Capital has helped finance our growth with significant financial commitments,” said Josh Collins, chairman and chief executive officer for Blount International, Inc. “Expanding our existing facility allows us to lower our overall cost of capital and supports our growth strategy.”
“Meeting the evolving capital needs of manufacturers is our specialty,” said Tom Quindlen, president and chief executive officer of GE Capital, Corporate Finance. “Deep industry knowledge, expert loan structuring and the ability to commit large amounts of capital leads to smarter liquidity for borrowers.”
Funding in part was provided through GE Capital, Corporate Finance's bank affiliate, GE Capital Financial, Inc.
About GE Capital, Corporate Finance
GE Capital, Corporate Finance is one of the largest providers of asset-based, cash flow and structured loans and leases for mid-size and large U.S. businesses. Financing supports working capital, growth, acquisitions, turnarounds and balance sheet optimization in key sectors: Aerospace & Defense, Automotive & Transportation, Chemicals & Plastics, Corporate Aircraft, Financial & Business Services, Food, Beverage & Agribusiness, Public Finance, Manufacturing, Marine, Metals & Mining, Paper, Packaging & Forest Products, Retail, Technology & Electronics. Visit gelending.com/clnews.
GE Capital offers consumers and businesses around the globe an array of financial products and services. For more information, visit gecapital.com or follow company news via Twitter (@GECapital). GE (NYSE: GE) is Imagination at Work - a diversified technology, media and financial services company focused on solving some of the world's toughest problems. Visit ge.com/.
Jeff Wilson, GE Capital, Corporate Finance
P: +1 203 749 6340 / E: Jeffrey.Wilson[.]ge.com