PRTODAY / NewswireToday Free press release distribution service network

Written by / Agency / Source: General Electric Company

Check Ads Availability|e-mail Article


Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!

GE Capital and Ares Capital Increase Available Capital to Senior Secured Loan Program, Now Totaling $7.7 Billion - SSLP closes more than $1 billion in eight financing commitments since the beginning of third quarter of 2011 (NYSE: GE) - AresCapitalCorp.com / GECapital.com
GE Capital and Ares Capital Increase Available Capital to Senior Secured Loan Program, Now Totaling $7.7 Billion

 

NewswireToday - /newswire/ - Norwalk, CT, United States, 2011/10/18 - SSLP closes more than $1 billion in eight financing commitments since the beginning of third quarter of 2011 (NYSE: GE) - AresCapitalCorp.com / GECapital.com. NYSE: GE

   
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Financial/Legal/Venture Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

The Senior Secured Loan Program (“SSLP”), jointly managed by Ares Capital Corporation and an affiliate of GE Capital, announced today that its total available capital has increased from $5.1 billion to $7.7 billion. In connection with this expansion, GE Capital and an affiliate agreed to make available to the SSLP up to approximately $6.2 billion and Ares Capital agreed to make available to the SSLP up to approximately $1.5 billion.

“We are excited about the expansion of the SSLP, and the continued strong working relationship that we have with GE Capital,” commented Kipp deVeer, Senior Partner at Ares Capital. “The increased size of the SSLP reflects the competitive advantages we jointly enjoy in providing one-stop, large scale solutions for middle market sponsors and borrowers, particularly in today’s marketplace.”

The Senior Secured Loan Program provides one loan to replace traditional senior and mezzanine debt financing, allowing for greater speed and simplicity.

“Expansion of the SSLP and our strong relationship with Ares enables us to deliver greater simplicity of execution to our private equity sponsor customers regardless of capital markets volatility,” said Stuart Aronson, President and CEO of GE Capital’s Sponsor Finance business. “The SSLP is successful because our customers value proven partners with committed capital and a willingness to invest throughout all economic cycles.”

Since the beginning of the third quarter of 2011, SSLP has completed eight financing transactions totaling more than $1.0 billion. With these recent transactions, the SSLP has funded more than $4.1 billion to middle-market borrowers and private equity sponsors since January 1, 2010.

Below is a brief description of two selected transactions:

Excelligence Learning Corporation / Sterling Investment Partners, L.P.
GE Capital and its affiliates along with Ares Capital served as joint lead arrangers and joint bookrunners in a senior secured credit facility to support the financing of Excelligence Learning Corporation by Sterling Investment Partners, L.P. Excelligence Learning Corporation is a developer, manufacturer, distributor, and retailer of educational products and supplies for child care programs, preschools, elementary schools and consumers.

Anthony, Inc. / Avista Capital Partners
GE Capital and its affiliates along with Ares Capital served as joint lead arrangers and joint bookrunners in a senior secured credit facility to support the financing of Anthony, Inc. by Avista Capital Partners. Anthony, Inc. is a manufacturer of glass doors and related products for the commercial freezer and refrigeration market.

About Senior Secured Loan Program
Senior Secured Loan Program was formed in December 2007 to invest in the senior secured debt of middle-market companies. The program is co-managed by GE Commercial Finance Investment Advisory Services LLC and Ares Capital Corporation and transactions require approval by both managers. SSLP has $7.7 billion of available capital and can hold up to $300 million in a single transaction for borrowers across a wide range of industry sectors. SSLP benefits borrowers by virtue of greater speed, simplicity and certainty, with proven partners.

About Ares Capital Corporation
Ares Capital (arescapitalcorp.com) is a closed-end, non-diversified management investment company that has elected to be regulated as a business development company under the Investment Company Act of 1940. With offices in Atlanta, Chicago, Los Angeles, New York and Washington, D.C., Ares Capital is a specialty finance company that provides integrated debt and equity financing solutions to U.S. middle-market companies. Ares Capital invests primarily in first- and second-lien loans and mezzanine debt, which in some cases includes an equity component. To a lesser extent, Ares Capital also makes equity investments. Ares Capital is externally managed by Ares Capital Management LLC, a wholly owned subsidiary of Ares Management LLC, a global alternative asset manager and a Securities and Exchange Commission registered investment adviser. As of June 30, 2011, Ares Management LLC had approximately $41 billion of committed capital under management.

About GE Capital
GE Capital (gecapital.com) offers consumers and businesses around the globe an array of financial products and services. Follow company news via Twitter (@GECapital). GE (ge.com) is a diversified infrastructure, finance and media company that is taking on the world’s toughest challenges. From aircraft engines and power generation to financial services, health care solutions and television programming, GE operates in more than 100 countries and employs about 300,000 people worldwide.

About GE Antares Capital
GE Antares Capital (geantares.com) is a unit of GE Capital, Sponsor Finance. With offices in Atlanta, Chicago, Los Angeles, New York and San Francisco, GE Antares is a leading lender to middle market private equity sponsors. GE Capital Markets has ranked #1 in the U.S. Sponsored Middle Market Bookrunner League Tables for three of the past four years.

About Excelligence Learning Corporation
Excelligence Learning Corporation (excelligence.com) is a leading developer, manufacturer, distributor, and retailer of educational products, which are sold to child care programs, preschools, elementary schools, and consumers. Excelligence provides quality educational products and programs for children from infancy to 12 years of age at all ability levels. The corporation offers a broad array of products designed for classroom use, enhanced by its extensive proprietary product development program. Excelligence's mission is to help further children's education beginning at birth, and to support learning at school and at home by providing educators and parents with high quality products, services, and valuable resources.

About Sterling Investment Partners, L.P.
Sterling Investment Partners (sterlinglp.com, a leading Westport, CT based, private equity fund, invests in companies with significant competitive strengths and growth potential. Founded in 1991, Sterling has completed investments, strategic or add-on acquisitions, and liquidity events with an aggregate transaction value in excess of $9.0 billion, representing more than 100 transactions. Sterling maintains a broad industry focus, including professional and business services, niche manufacturing, transportation and logistics, retail/ consumer, technology-related and education businesses.

About Anthony International
Founded in 1958 and headquartered in Sylmar, CA, Anthony (anthonyintl.co) is the world's largest manufacturer of specialty glass, commercial glass refrigerator and freezer doors, case lighting, and display and merchandising systems. Anthony provides customers with the most technologically advanced merchandising systems on the market, offering low-energy products to cut operating costs and help preserve natural resources. Anthony offers up to 70% energy savings by enclosing open refrigerator and freezer cases with Anthony Retrofit doors and Anthony “OptiMax2” LED lighting systems. Anthony serves the commercial refrigeration markets in North America, South America, Asia, and Europe.

About Avista Capital Partners
Avista Capital Partners (avistacap.com) is a leading private equity firm with offices in New York, Houston, and London. Avista’s strategy is to make controlling or influential minority investments in growth-oriented energy, healthcare, media, industrial and consumer businesses. Through its team of seasoned investment professionals and industry experts, Avista seeks to partner with exceptional management teams to invest in and add value to well-positioned businesses.

 
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Financial/Legal/Venture Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Written by / Agency / Source: General Electric Company

 
 

Availability: All Regions (Including Int'l)

 

Traffic Booster: [/] Quick Newswire Today Visibility Checker

 

Distribution / Indexing: [+] / [Company listed above is a registered member of our network. Content made possible by PRZOOM / PRTODAY indexing services]

 
 
# # #
 
 
  Your Banner Ad showing on ALL
Financial/Legal/Venture articles,
CATCH Visitors via Your Competitors Announcements!


GE Capital and Ares Capital Increase Available Capital to Senior Secured Loan Program, Now Totaling $7.7 Billion

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name Newswire Today and LINK as the source.
 
  Is this your article?
Activate ALL web links and social stream by Upgrading to Press Release PREMIUM Plan Now!

GE News Center |
Publisher Contact: Ned Reynolds - GE Capital Americas 
+1 203-229-5717 / +1 203-837-0699(mobile) ned.reynolds[.]ge.com
 
Newswire Today - PRZOOM / PRTODAY disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any General Electric Company securities in any jurisdiction including any other companies listed or named in this release.

Financial/Legal/Venture via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY



Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!


Read Latest Articles From General Electric Company / Company Profile


Read Financial/Legal/Venture Most Recent Related Newswires:

Infinera to Participate in Upcoming Investor Conference
Propel Financial Services Partners with Clear Payment Solutions
Digital Payments Power Growth in Booming Asia-Pacific Financial Technology Landscape Notes Frost & Sullivan
Digital Readiness Key to Growth Opportunities in the Financial Services Market
Prairie Capital Advisors Announces The Sale of Cornerstone Treatment Facilities Network to An ESOP
Koch Agrees to Invest Over $2 Billion in Infor
FTI Consulting Recognized as a Top Service Provider in the Legal Industry
GE Completes Spin Off and Demerger of Bank BPH Core Bank to Alior Bank
ALM Expands Senior Leadership Team, Organization Focused on Customers and Transformation
Lazard Acquires Remaining 50% Stake in MBA Lazard - Fully Integrating its Latin American Operations
Western Union Business Solutions Announce Mark Davis As Head of Australia and New Zealand
Tabarak Investment Capital and Elite Capital & Co. Limited in Discussion to Finance Projects
Consulting Magazine Unveils the Profession’s Fastest Growing Firms At Inaugural Gala
Hills Invest Signs An Agreement with The Afore Profuturo in Mexico
TRA Searches for TPA Acquisition Opportunities

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
NewswireToday Celebrates 10 Years in Business


PREMIUM Members


Visit  Triggr & Bloom

Visit  La Bella Bakery Artisan Bakery Arizona





 
  ©2016 Newswire Today — Limelon Advertising, Co.
Home | About | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR free press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneurs newswire distribution prtoday.com freenewswiredistribution asianewstoday bizwiretoday USA pr UK today - NOT affiliated with PRNewswire as we declined their partnership offer in 2013
 
PRTODAY & NewswireTODAY are NOT affiliated with USA TODAY (usatoday.com)