GE Capital is Administrative Agent on $500 Million Credit Facility for Axiall Corporation
NORWALK, Conn.--(BUSINESS WIRE)-- GE Capital, Corporate Finance today announced it is serving as administrative agent on a $500 million asset-based credit facility for Axiall Corporation (AXLL), created by the merger of Georgia Gulf and the commodity chemicals business of PPG Industries, Inc. GE Capital Markets served as co-lead arranger and joint bookrunner for the transaction. The loan is being used for general corporate purposes.
Headquartered in Atlanta, GA, Axiall is a leading North American chemicals and building products manufacturer.
GE Capital has been our lender for more than three years, so they have a deep understanding of our business, said Thomas Donahue, vice president and corporate treasurer for Axiall. Throughout that time, they have worked with us to modify our financing structures so that our financial flexibility has increased as we have evolved.
Middle market customers know they can count on us for significant financial commitments and customized solutions to help support their business objectives, said Bob McCarrick, chief commercial officer, lending for GE Capital, Corporate Finance. We work closely with customers to ensure they have the capital they need to build their business.
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 GEs best practices to help build their business. Visit gelending.com/clnews or follow @GELendLease on Twitter.
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) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. For more information, visit ge.com.
GE Capital, Corporate Finance
Jeff Wilson, 203-749-6340
GE Capital, Americas
Ned Reynolds, 203-229-5717
Source: GE Capital, Corporate FinanceCopyright Business Wire 2013