NewswireToday - /newswire/ -
Norwalk, CT, United States, 2011/03/22 - GE Capital, Corporate Retail Finance announced it is co-collateral agent on a $600 million asset-based revolving credit facility for Winn-Dixie Stores, Inc., a leading food retailer (NASDAQ: WINN) (NYSE: GE). NYSE: GE
The loan refinances an existing credit facility and will be used for working capital and general corporate purposes. GE Capital Markets served as joint lead arranger.
Founded in 1925, Jacksonville, Florida-based Winn-Dixie is one of the nation's largest food retailers. The company operates 484 retail grocery locations, including 379 in-store pharmacies, in Florida, Alabama, Louisiana, Georgia and Mississippi.
"GE Capital knows our business and they really understand the challenges and opportunities inherent in retail," said Bennett Nussbaum, Senior Vice President and Chief Financial Officer of Winn-Dixie. "We value GE’s significant financial commitment and our ongoing business relationship.”
“This financing builds on our five-year relationship with Winn-Dixie,” said Jim Hogan, senior managing director of GE Capital, Corporate Retail Finance. “Providing retailers with capital to accelerate their business plans is one of our specialties.”
About GE Capital, Corporate Retail Finance
GE Capital, Corporate Retail Finance is a leading provider of senior secured loans to retailers, primarily in the U.S., to support working capital, growth, acquisitions and more. With Access GE, clients also benefit from access to GE management 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.