MONTREAL, Oct. 2, 2014 /CNW Telbec/ - GE Capital, Canada announced today that it is serving as Administrative Agent on a $38 million term loan facility to Canam Group Inc., North America's largest steel components fabricator. The new facility will be used to refinance existing debt and provide working capital. GE Capital Markets, Canada served as lead arranger of the facility.
Since 1961, Canam Group has specialized in designing construction solutions and fabricating customized products. It takes part in an average of 10,000 construction projects each year in three groups of products and services: buildings, structural steel and bridges. It operates 22 plants across North America and employs more than 3,700 people in Canada, the U.S., Romania, India and Hong Kong.
"GE Capital has been a valued financing partner for us," said Rene Guizzetti, CFO of Canam Group. "We particularly appreciate their capacity to finance large transactions, their expertise in the manufacturing industry and their understanding of the cyclicality of the steel industry."
"GE Capital is pleased to be supporting the continued growth of Canam Group," said Alain Dupont, leader of the manufacturing and corporate aviation business within GE Capital, Canada. "It has been a valued customer of ours since 2006 and we look forward to working together in the years ahead."
About GE Capital
With 17 offices throughout Canada, GE Capital (http://www.gecapital.ca) offers a wide variety of financial products and services to address commercial financing 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 financing.
SOURCE: GE CAPITAL CANADA
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