GE Corporate Lending Provides Credit Facility to Esmark
07/31/2007 - GE Commercial Finance Corporate Lending provides a $150-million asset-based credit facility to Esmark, to be used for working capital needs and to refinance existing debt.
GE Commercial Finance Corporate Lending announced it has provided a $150-million asset-based credit facility to Esmark, Inc.
Founded in 2003, Esmark provides value-added cold rolled and coated steel products to clients throughout the Midwest United States. Esmark will use the new financing for working capital needs and to refinance existing debt.
GE Capital Markets served as co-lead arranger for the transaction. “GE’s in-depth knowledge of our industry adds a wealth of metals expertise to the Esmark bank group,” said Craig T. Bouchard, Co-founder and President of Esmark. “Through their understanding of the market and our financial needs, they tailored financing that allows us to maximize flexibility and liquidity to help support and grow our business.”
“Industry specialization allows us to work more closely with clients to deliver smarter capital to help foster their business plans,” said Greg Eck, Metals and Mining Industry Leader for GE Corporate Lending. “With more than $3.5 billion invested in the metals and mining industry, GE is focused on better understanding and meeting the financing needs of companies in the sector.”
With $14 billion in assets, GE Commercial Finance Corporate Lending is one of North America’s largest providers of asset-based, cash-flow, structured finance and other capital solutions for mid-size and large companies. From over 30 offices throughout the U.S. and Canada, GE Corporate Lending specializes in serving the unique needs of borrowers seeking $20 million to $2 billion and more for working capital, growth, acquisitions, project finance and turnarounds. GE Corporate Lending has a team of Industry Leaders supported by dedicated research analysts. These industry experts work closely with GE Corporate Lending’s regional teams to build customized financing solutions for companies across a range of key industries.
GE Commercial Finance, which offers businesses around the globe an array of financial products and services, has assets of over $233 billion and is headquartered in Norwalk, Conn. GE is Imagination at Work – a diversified technology, media and financial services company focused on solving some of the world’s toughest problems. GE serves customers in more than 100 countries and employs more than 300,000 people worldwide.
