NORWALK, Conn.--(BUSINESS WIRE)--GE Capital, Corporate Finance today announced it is agent for a C$300
million asset-based credit facility to Evraz Inc. NA Canada, a steel
plate and pipe manufacturer. The loan will be used for working capital
needs and other corporate purposes. GE Capital Markets served as joint
lead arranger.
“Meeting the
industry???s financing needs requires experience, market knowledge and
working closely with clients.”
Headquartered in Portland, OR, Evraz Inc. NA Canada operates a steel
making and rolling mill, several pipe mills and 2 cut-to-length
facilities in western Canada. The company produces specialty and
commodity steel plate and pipe products primarily serving oil and gas
producers and distributors, service centers and fabricators in North
America.
???GE has a keen understanding of the steel business and made a
significant financial commitment,??? said Mike Rehwinkel, Evraz Inc. NA
president and CEO. ???This credit facility provides us with the liquidity
and flexibility to meet our ongoing working capital needs.???
???The steel industry is both capital intensive and cyclical,??? said Tom
Quindlen, president and CEO, GE Capital, Corporate Finance. ???Meeting the
industry???s financing needs requires experience, market knowledge and
working closely with clients.???
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: Automotive and
transportation; chemicals and plastics; 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. 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
Imagination at Work - a diversified technology, media and financial
services company focused on solving some of the world's toughest
problems. Visit ge.com.