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| A monthly eNewsletter on leveraged finance | December 2008 |
In this issue
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Tight credit markets continue to impact a borrower's ability to raise new capital for debtor-in-possession (DIP) and exit financings. Despite the extraordinary steps by the U.S. and European governments to provide stability and liquidity in global financial markets, banks and other financial institutions continue to hoard cash and U.S. dollars instead of lending to credit worthy borrowers. Lenders, borrowers and turnaround practitioners are trying to make sense of it all and identify the market inflection point and return to normalcy. How will we know when the grim credit market picture begins to brighten? Here are five indicators to watch.
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| Market Minute – The State of Asset-Based Lending | ABL Market | |||||||||||||||
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ABL Market’s Current Health and Future Challenges Sal Settineri of GE Capital Markets discusses the state of the ABL market in terms of the two primary factors attributing to the current health of the market, and the challenges ABL will face in the year ahead. 
Watch video
Read transcript |
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| Done Deals | Recent Transactions | |||||||||||||||
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Co-Lead Arranger • $400,000,000 • Asset-Based Credit Facility Based in Greeley, Colorado, JBS USA, Inc. is the second largest beef processor in the U.S. The company is a subsidiary of JBS S.A., the world’s largest beef producer and exporter. JBS USA, Inc. will use the $400 million asset-based credit facility for working capital needs. GE Capital Markets acted as co-lead arranger on the transaction.  Read more |
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| Capital Comic | © Randy Glasbergen | |||||||||||||||
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| Indices Watch | Trend Statistics | |||||||||||||||
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M&A Dealmaker Confidence Reaches Record Lows Find out why 86 percent of middle-market merger professionals say the current M&A environment is fair or poor in this ACG / Thomson Reuters survey. Learn More |
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Survey Confirms Continued Liquidity Crisis is Straining Lender / Borrower Relationships Learn why 32 percent of CFOs and other top-level finance executives said that relations with their lenders would not reach some sense of normalcy until the fourth quarter of 2009 or later. Learn More |
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Default Rate Pushes Past 3 Percent In November Read the latest default rate results from Standard & Poor’s finding that corporate defaults in 2008 continued to rise as expected, with eight U.S. defaults in November. Learn More |
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Copyright © 2008 GE Commercial Finance. All rights reserved. “GE,” “General Electric Company,” “General Electric,” the GE Logo, and various other marks and logos used in this publication are registered trademarks, trade names and service marks of General Electric Company. You may reprint or forward this newsletter to others provided that it is reproduced or distributed in its entirety, including this disclaimer. For all other uses please contact Jeffrey Wilson. This publication provides general information and should not be used or taken as business, financial, tax, accounting, legal or other advice, or relied upon in substitution for the exercise of your independent judgment. For your specific situation or where otherwise required, expert advice should be sought. The views expressed in these articles reflect those of the authors and contributors and not necessarily the views of GE Corporate Lending or any of its affiliates (together, “GE”). Although GE believes that the information contained in this publication has been obtained from and is based upon sources GE believes to be reliable, GE does not guarantee its accuracy and it may be incomplete or condensed. GE makes no representation or warranties of any kind whatsoever in respect of such information. GE accepts no liability of any kind for loss arising from the use of the material presented in this publication.