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| A monthly eNewsletter on leveraged finance | September 2009 |
In this issue
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The availability of new loan money has certainly improved from a year ago. Mid-market lenders are handling a much larger volume of loan requests from potential middle-market borrowers. Nevertheless, it is a very different environment now marked by fewer lenders, tighter terms and smaller syndications. Read more about the factors that created the current state of the market. |
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| Taking Challenges Head-On | ||||||||||||||||
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Corporate Deleveraging in Today’s Credit Cycle |
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| Done Deals | Recent Transactions | |||||||||||||||
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Lead Arranger • $200 Million • Asset-Based Credit Facility Based in New York, Sotheby’s is a leading provider of art auctions, private sales and art-related financing. GE Capital, Corporate Finance led a $200 million asset-based credit facility to Sotheby’s. GE Capital Markets served as lead arranger. The loan will be used for working capital needs.  Read the press announcement |
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Joint-Lead Arranger • $197 Million • As Part of a $242 Million Exit Financing Based in Atlanta, Georgia, Spectrum Brands, Inc., is a global consumer products company. GE Capital, Corporate Finance led a $197 million revolving credit facility as part of a $242 million plan of reorganization financing. The loan refinances an existing debtor-in-possession facility, and supports Spectrum's exit from bankruptcy and their ongoing working capital needs. GE Capital Markets served as joint-lead arranger on the revolver. Read the press announcement |
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Co-Lead Arranger • $151 Million • Asset-Based Credit Facility Based in Rancho Cucamonga, CA, Kumho Tire U.S.A. is the U.S. distributor of South Korea-based Kumho Tire Co., Inc. GE Capital, Corporate Finance is administrative agent for a $151 million asset-based credit facility. GE Capital Markets served as co-lead arranger. The loan will be used for working capital needs. Read the press announcement |
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| Capital Comic | © Randy Glasbergen | |||||||||||||||
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| Indices Watch | Trend Statistics | |||||||||||||||
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CFO Optimism Grows As Economy Improves According to the latest Duke University/CFO magazine Global Business Outlook Survey, 58% of CFOs say they are more optimistic about the economy Learn More |
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U.S.
Middle-Market M&A Activity Declines August year-to-date mergers and acquisitions in the middle market declined 23.5% from the same period last year according to this research. Learn More |
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CEO Economic Outlook Mixed Despite a positive outlook on sales, most US chief executives are not ready to step-up hiring or capital spending, according to this survey. Learn More |
| Find financing now at http://www.gelending.com/ | |
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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 Capital 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.