Business & Finance
Business and Finance
Business and Finance
Sat, March 5, 2011
Fri, March 4, 2011 GE Capital Leads C$200 Million in Senior Secured Debt Financing for Tembec
MONTREAL, March 4 /CNW Telbec/ - GE Capital today announced the completion of a C$200 million asset-based revolving credit facility for Tembec Inc. (TSX: TMB; "Tembec"). Tembec will use the credit facility for working capital and general corporate purposes. GE Capital Markets (Canada) acted as sole lead arranger and sole book runner for the financing.
With principal operations located in Canada, Tembec is a large, diversified and integrated forest products company that stands as the global leader in sustainable forest management practices.
"GE Capital has been our financing partner for five years now. Their understanding of our business and expertise in structuring financings in the pulp and paper sector were key in identifying a financial solution that was suited to our business," said Mr. Michel Dumas, Executive Vice President, Finance & Chief Financial Officer, Tembec.
"We're very pleased to be able to extend our long relationship with Tembec," said Mr. Ellis Gaston, Managing Director of Corporate Finance Canada at GE Capital. "Our ability to underwrite and hold large positions, in addition to knowing the company and the industry well, made us an appropriate partner in this transaction."
About GE Capital:
With more than 20 offices throughout Canada, GE Capital ([ gecapital.ca ]) offers a wide variety of financial products and services to address commercial financing and fleet management needs in all phases of a business' lifecycle. From equipment finance to working capital and growth financing to large asset-based and restructuring loans, we apply our wealth of industry expertise and develop custom solutions for your company. Some of the industry sectors we specialize in include transportation, construction, healthcare, forestry, manufacturing, oil & gas, wholesale & retail, restaurant and hotel franchise. For more information, visit [ gecapital.com ] or follow company news via Twitter (@GECapitalNews). For more information on GE Capital in the Americas, visit [ gecapital.com/americas ]. GE (NYSE: GE) is Imagination at Work - a diversified technology, media and financial services company focused on solving some of the world's toughest problems. Visit [ ge.com ]
