MONTREAL, June 26, 2013 /CNW Telbec/ - GE Capital, Corporate Finance
today announced that it is serving as administrative agent on
approximately $350 million in revolving, term loan, and delayed draw
term loan credit facilities for Clearwater Seafoods (TSX: CLR,
CLR.DB.A). The facilities will be used to enhance Clearwater's capital
structure as well as provide financing for a $45 million investment in
a new vessel for clam harvesting operations. GE Capital Markets served
as joint lead arranger and joint bookrunner for the credit facilities.
Founded in 1976, Clearwater is one of North America's largest vertically
integrated seafood companies.
"We appreciate working with GE Capital, a financial advisor that offers
much more than just capital," said Ian Smith, chief executive officer
of Clearwater. "For example, the team at GE provided us with great
thought leadership in the use of technology to drive the efficient use
"We're pleased to expand our long relationship with Clearwater as they
continue to grow their business," said Kathy Lee, president and CEO, GE
Capital, Canada. "Our expertise across North America in the food
industry, and our capital markets capabilities, assisted Clearwater in
successfully executing this transaction."
Clearwater is one of North America's largest vertically integrated
seafood companies and the largest holder of shellfish licenses and
quotas in Canada. It is recognized globally for its superior quality,
food safety, diversity of species and reliable worldwide delivery of
premium wild, eco-certified seafood, including scallops, lobster,
clams, coldwater shrimp, crab and groundfish.
Since its founding in 1976, Clearwater has invested in science, people
and technological innovation as well as resource ownership and
management to sustain and grow its seafood resource. This commitment
has allowed it to remain a leader in the global seafood market and in
sustainable seafood excellence.
About GE Capital, Canada
With 19 offices throughout Canada, GE Capital (gecapital.ca) offers a wide variety of financial products and services to address
commercial financing and fleet management needs in many phases of a
business' lifecycle. From equipment finance to working capital and
growth financing to large asset-based and restructuring loans, we apply
our wealth of industry expertise to develop custom solutions for your
company. Some of the industries in which we specialize include
transportation, construction, manufacturing, aerospace, automotive,
mining, energy, wholesale, retail, restaurant and hotel franchise
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. Building,
powering, moving and curing the world. Not just imagining. Doing. GE
works. For more information, visit the company's website at www.ge.com.
SOURCE: GE CAPITAL CANADA
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