Tag Archives: Administrative Agent

Business, Finance, Occupation & Industry

GE Capital is Administrative Agent on $195 Million Credit Facility for Electrical Components Interna

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By Business Wirevia The Motley Fool

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GE Capital is Administrative Agent on $195 Million Credit Facility for Electrical Components International

NORWALK, Conn.–(BUSINESS WIRE)– GE Capital, Corporate Finance today announced it is administrative agent on a $195 million cash flow credit facility for Electrical Components International, Inc. (ECI), a leading wire harnesses manufacturer. The proceeds will refinance debt, support ongoing working capital needs and be used for other corporate purposes. GE Capital Markets served as joint lead arranger and joint book runner.

Founded in 1953 and based in St. Louis, MO, ECI is a leading global manufacturer of wire harnesses and provider of assembly services. ECI‘s wire harness products are used in a variety of applications such as major appliances, agricultural and construction equipment, heating, ventilating and air conditioning, specialty transportation, commercial appliance and the commercial electronic industries. ECI has more than 14,000 employees, and global manufacturing and logistics facilities.

“We’ve worked with GE for over 20 years and they’ve come to know our company well,” said David Webster, CEO of ECI. “We value having GE‘s industry knowledge and expertise to help meet our business and capital needs.”

“Manufacturers today benefit from working with proactive lenders with debt capital markets expertise,” said Tom Quindlen, president and CEO of GE Capital, Corporate Finance. “We provide smart capital to middle-market companies to help them meet business objectives.”

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. Funding may be provided through GE Capital, Corporate Finance‘s affiliate, GE Capital Financial. Inc., Member, FDIC. 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; energy; food and beverage; 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 to help build their business. Visit gelending.com/clnews or follow @GELendLease on Twitter.

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 (NYS: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and …read more

Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Reliance Steel & Aluminum Co. Announces Amended and Restated $1.5 Billion Credit Facility and New $5

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By Business Wirevia The Motley Fool

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Reliance Steel & Aluminum Co. Announces Amended and Restated $1.5 Billion Credit Facility and New $500 Million Term Loan

LOS ANGELES–(BUSINESS WIRE)– Reliance Steel & Aluminum Co. (NYS: RS) announced today that it has amended and restated its existing $1.5 billion unsecured revolving credit facility and raised $500 million in a new term loan. The credit agreement has a term of five years, expiring April 4, 2018 and includes an increase option of the revolving credit facility for up to an additional $500 million. Both facilities allow for prepayments.

David H. Hannah, Chairman and CEO of Reliance said, “These financing transactions are a significant step in obtaining the financing necessary to complete our previously announced acquisition of Metals USA that we expect to close in the 2013 second quarter. The bank markets remain favorable and we are happy with the pricing and other terms under the new facility. We appreciate the continued support of the syndicate of 26 banks involved in our credit facility.”

Bank of America N.A. is the Administrative Agent and JPMorgan Chase Bank, N.A. and Wells Fargo Bank, National Association are Co-Syndication Agents. Merrill Lynch, Pierce, Fenner & Smith Incorporated, J.P. Morgan Securities LLC and Wells Fargo Securities, LLC were the Joint Lead Arrangers and Joint Book Managers.

About Reliance Steel & Aluminum Co.

Reliance Steel & Aluminum Co., headquartered in Los Angeles, California, is the largest metals service center company in North America. Through a network of more than 240 locations in 38 states and ten countries outside of the United States, the Company provides value-added metals processing services and distributes a full line of over 100,000 metal products to more than 125,000 customers in a broad range of industries.

Reliance Steel & Aluminum Co.’s press releases and additional information are available on the Company’s web site at www.rsac.com. The Company was named to the 2012 “Fortune500” List and the 2012 Fortune List of “The World‘s Most Admired Companies.”

This release may contain forward-looking statements. Actual results and events may differ materially as a result of a variety of factors, many of which are outside of Reliance Steel & Aluminum Co.’s control. Risk factors and additional information are included in Reliance Steel & Aluminum Co.’s reports on file with the Securities and Exchange Commission, including Reliance Steel & Aluminum Co.’s Annual Report on Form 10-K for …read more

Source: FULL ARTICLE at DailyFinance