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$275 Million Senior Credit Facility for Leading Manufacturer and Distributor of Specialty Bakery Products.

Publication: M2 Presswire
Publication Date: 15-DEC-06 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
M2 PRESSWIRE-15 December 2006-www.MarketGainer.com: $275 Million Senior Credit Facility for Leading Manufacturer and Distributor of Specialty Bakery Products(C)1994-2006 M2 COMMUNICATIONS LTD

RDATE:15122006

General Electric Company (NYSE: GE) develops, manufactures, and markets various products for the generation, transmission, distribution, control, and utilization of electricity worldwide.

Shares are up $.06 reaching a high of $35.56 on a volume of over 800,000 in the early morning trading. Today's momentum came in as GE Antares (NYSE: GE) announced it is serving as syndication agent for a $275 million senior secured credit facility to support the acquisition by Best Brands of Telco Food Products Inc., and Brantley Partners' recapitalization of the Company. GE Capital Markets and RBS Securities Corporation serve as joint lead arrangers and joint bookrunners.

The financing consisted of a $30 million senior secured revolving credit facility, a $170 million senior secured first lien term loan facility, and a $75 million second lien term loan facility. Proceeds of the credit facility were used to provide financing for the acquisition of Telco Food...

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