GE Capital is Agent for C$300 Million Credit Facility to Evraz Inc. NA Canada

Published on Wednesday, 08 September 2010 08:12 Written by TradersHuddle Staff

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.

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.

GE Capital, Corporate FinanceJeff Wilson, 203-749-6340jeffrey.wilson@ge.comorGE Capital, NorwalkNed Reynolds, This e-mail address is being protected from spambots. You need JavaScript enabled to view it.