NORWALK, Conn.--(BUSINESS WIRE)-- GE Capital, Corporate Finance today announced it is administrative agent on a $200 million asset-based credit facility for Furniture Brands International, Inc. (NYSE: FBN), a leading supplier of home furnishings. The loan will be used for general corporate purposes and to refinance existing debt. GE Capital Markets served as joint lead arranger and bookrunner.
Headquartered in St. Louis, MO, Furniture Brands International is a global leader in designing, manufacturing and selling home furnishings. Sold through specialized interior designers, independent retailers and mass merchant stores, the company’s brands include Thomasville, Lane and Broyhill.
“This credit facility will provide the financial flexibility we need to execute our business plans,” said Vance Johnston, senior vice president and chief financial officer of Furniture Brands International. “GE Capital brought in-depth retail expertise to the deal, and this capital structure supports our growth strategies.”
“Our specialty is providing capital that helps build middle-market companies,” said Jim Hogan, senior managing director of GE Capital, Corporate Finance. “We have a long-term interest in our customers’ growth, and work closely with them to find the right financing solutions in all economic cycles.”
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: Aerospace and defense; automotive and transportation; chemicals and plastics; construction and building products, corporate aircraft; energy; food and beverage; 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 to help build their business. Visit gelending.com/clnews or follow @GELendLease on Twitter.
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Source: GE Capital, Corporate Finance