GE Capital is Agent for $700 Million Cash Flow Credit Facility to Blount International, Inc.
NORWALK, CT– June 16, 2011 — GE Capital, Corporate Finance today announced it is administrative agent for a $700 million cash flow credit facility to Blount International, Inc. The loan refinances existing debt and will support growth. GE Capital Markets served as joint lead arranger.
Headquartered in Portland, OR, Blount International, Inc. (NYSE: BLT) designs, manufactures, and markets replacement parts and equipment for consumers and professionals in select global end markets, including forestry, lawn, and garden; farm, ranch, and agriculture; and concrete cutting and finishing, and is a leader in manufacturing saw chain and guide bars for chain saws.
“For the last ten years, GE Capital has provided outstanding service to us as the arranger and lead provider of innovative and customized senior credit facilities to finance our domestic and international operations,” said Josh Collins, chairman and chief executive officer for Blount International, Inc. “As we have transitioned into a more active growth strategy over the past two years, GE has provided not only financing, but also advice through access to their considerable know-how and experience in international operations to help accelerate our business objectives.”
“Building long term relationships and financing the growth plans of U.S. manufacturers is our focus,” said Tom Quindlen, president and chief executive officer of GE Capital, Corporate Finance. “What’s more, we share best practices from across GE, because we succeed when our clients 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. Funding may be provided through GE Capital, Corporate Finance’s affiliate, GE Capital Financial Inc., member FDIC. 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 (@GECapital). GE (NYSE: GE) is an advanced technology, services and finance company taking on the world’s toughest challenges. For more information, visit ge.com