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| A monthly eNewsletter on leveraged finance | June 2008 |
In this issue
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The increasingly bleak economic news portends a massive financial storm on the horizon, assuming it is not directly overhead. |
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| Market Minute | Automotive | |||||||||||||||
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Watch Richard Aldrich, Senior Research Analyst, Automotive provide a brief overview of critical trends impacting liquidity in the sector. For more in-depth market analysis in Automotive and more than 10 other industries — download GE Industry Research Monitors here. |
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| Done Deals | Recent Transactions | |||||||||||||||
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Lead Arranger - $700,000,000 - Debtor-in-Possession Facility Headquartered in Clifton, New Jersey, Linens 'n Things, Inc. is a national, large-format retailer of home textiles, housewares and decorative home accessories. The $700 million debtor-in-possession facility will be used for working capital needs as the company restructures under Chapter 11. GE Capital Markets arranged the transaction. |
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Agent • C$175,000,000 • Senior Secured Credit Facility Headquartered in Duncan, British Columbia, Western Forest Products is an integrated forest products company. It is the largest coastal woodland operator and lumber producer in British Columbia. Operations include timber-harvesting, reforestation, sawmilling logs into lumber and wood chips, and value-added remanufacturing. The C$175 million senior secured credit facility will be used to refinance existing debt. |
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Co-Lead Arranger • $200,000,000 • Asset-Based Credit Facility Headquartered in Dearborn, MI, International Automotive Components Group North America, Inc. is a global Tier 1 automotive supplier of vehicle interior components and systems including instrument panels, floor consoles, door modules, overhead systems, flooring, acoustics, cargo management and more. The $200 million asset-based credit facility will be used for working capital needs. |
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| In Search of Smarter Capital | By Tom Quindlen | |||||||||||||||
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The Importance of Finding the Best Lender, Not Just the Best Rate. By Tom Quindlen, President and CEO, GE Commercial Finance Corporate Lending When financial markets are flush, lenders often compete based on price or by offering covenant-light or even restriction-free loans. Capital becomes a commodity and lenders increasingly accept more than reasonable risk to secure business. However, in the long term, a lender does its corporate customers no favors by compromising its credit principles. Ultimately, lenders and borrowers who remain disciplined will be better prepared during market shifts. Smart business leaders look beyond interest rates for a lender that can serve the broader interests of the company.  Read more |
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| Capital Comic | © Randy Glasbergen | |||||||||||||||
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| Indices Watch | Trend Statistics | |||||||||||||||
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Financial Services Forum CEO Spring '08 Survey Learn what leaders at top financial services firms think about the credit markets and economy. Learn More |
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CFO '08 Global Business Outlook Find out what CFOs expect in this Duke/CFO Magazine quarterly survey. Learn More |
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April '08 Senior Loan Officer Opinion Survey Read what Senior Loan Officers are saying about the supply of and demand for bank loans to businesses and households this quarter. Learn More |
| Find financing now at www.gelending.com | |
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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.