GE Capital is Co-Lender in a $700 Million Credit Facility to Borders

GE Capital, Corporate Retail Finance, a provider of senior secured loans to retailers, primarily in the United States, said that it is the co-collateral agent on a $700 million asset-based credit facility for Borders Group, Inc., a specialty retailer of books and other educational and entertainment items.

The loan, as stated will be used to support working capital needs. GE Capital Markets has served as co-lead arranger.

Borders Group is headquartered in Ann Arbor, MI, and employs approximately 19,500 throughout the U.S., primarily in its Borders and Waldenbooks stores.

"As a long-term GE customer, we appreciate their knowledge of our business and ongoing support," said Mark Bierley, chief financial officer for Borders Group. "Throughout the years, GE's retail expertise and willingness to share institutional best practices has been valuable to our organization."

GE Capital, Corporate Finance 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, Government Finance, Manufacturing, Marine, Metals & Mining, Paper, Packaging & Forest Products, Retail, Technology & Electronics.

"In-depth retail knowledge and underwriting expertise allows us to make significant financial commitments," said Jim Hogan, managing director of GE Capital, Corporate Retail Finance.

"Aside from providing capital, we also go beyond financing by sharing GE tools and insight to add additional value for customers," Hogan added.

GE is a diversified infrastructure, finance and media company operating in more than 100 countries and employing about 300,000 people worldwide.

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