NewswireToday - /newswire/ -
Norwalk, CT, United States, 2011/02/09 - GE Capital, Corporate Finance announced it is administrative agent on a $300 million asset-based revolving credit facility for Georgia Gulf Corporation, a leading chemicals company (NYSE: GGC) (NYSE: GE). NYSE: GE
The loan amends and extends an existing credit facility and will be used to support growth and working capital needs. GE Capital Markets served as co-lead arranger. GE Capital, Fleet Services also provides the company with fleet management services.
Georgia Gulf Corporation is a leading, integrated North American manufacturer of two chemical lines, chlorovinyls and aromatics, and manufactures vinyl-based building and home improvement products. These products, marketed under Royal Group brands, include window and door profiles, mouldings, siding, pipe and pipe fittings, and deck, fence and rail products. Headquartered in Atlanta, GA, Georgia Gulf has manufacturing facilities located throughout North America.
"GE Capital understands our business and once again provided financing to meet our evolving needs," said Greg Thompson, chief financial officer of Georgia Gulf Corporation. "We also value the access we have to GE experts from across the company when we’re looking for help beyond capital."
“Asset-based financing is well-suited to clients who compete in seasonal markets such as building products, ” said Tom Quindlen, president and CEO of GE Capital, Corporate Finance. “It’s rewarding to see our financial and intellectual capital at work helping customers succeed.”
About GE Capital, Corporate Finance
GE Capital, Corporate Finance provides asset-based, cash flow and structured loans and leases to mid-size and large U.S. businesses. Financing supports working capital, growth, acquisitions, turnarounds and balance sheet optimization in key sectors: Aerospace and defense; automotive and transportation; chemicals and plastics; construction and building products, corporate aircraft; financial and business services; food, beverage and agribusiness; 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. 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 (@GECapitalNews). GE (ge.com) is Imagination at Work - a diversified technology, media and financial services company focused on solving some of the world's toughest problems.
Jeff Wilson - GE Capital, Corporate Finance
P: +1 203 749 6340 / E: Jeffrey.Wilson[.]ge.com.