GE Capital is Collateral Agent for $120 Million Asset-Based Credit Facility to Ocean Beauty Seafoods, LLCNORWALK, Conn.--(BUSINESS WIRE)--GE Capital, Corporate Finance today announced it is collateral agent for a $120 million asset-based credit facility to Ocean Beauty Seafoods, LLC, one of the largest seafood companies in the Pacific Northwest. GE Capital Markets served as joint lead arranger.
"GE Capital's industry expertise in the seafood processing space and its ability to offer an anchor hold position added significant value"
Founded in 1910 and headquartered in Seattle, WA, Ocean Beauty Seafoods, LLC has company-owned processing, distribution and sales outlets throughout the continental United States, Alaska and Japan. The company is the largest smoked salmon processor in the U.S.
"GE Capital's industry expertise in the seafood processing space and its ability to offer an anchor hold position added significant value," said Tony Ross, CFO for Ocean Beauty Seafoods, LLC. "We also value GE's quick turnaround on their commitment."
"We're dedicated to providing financial solutions that meet the unique financing needs of our clients," said Tom Quindlen, president and CEO of GE Capital, Corporate Finance. "Providing businesses with the liquidity critical to executing their business objectives is our specialty."
About GE Capital, Corporate Finance
GE Capital, Corporate Finance is one of the largest providers of asset-based, cash flow and structured loans and leases for mid-size and large U.S. businesses. Financing supports working capital, growth, acquisitions, turnarounds and balance sheet optimization in key sectors: Aerospace & Defense, Automotive & Transportation, Chemicals & Plastics, Corporate Aircraft, Financial & Business Services, Food, Beverage & Agribusiness, Public Finance, Manufacturing, Marine, Metals & Mining, Paper, Packaging & Forest Products, Retail, Technology & Electronics. 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 (@GECapitalNews). 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
Posted: July 28, 2010
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