Daily News: October 2, 2012

GE Capital Agents $200 Million ABL for Furniture Brands


GE Capital, Corporate Finance announced it is administrative agent on a $200 million asset-based credit facility for Furniture Brands International, Inc., a supplier of home furnishings. The loan will be used for general corporate purposes and to refinance existing debt. GE Capital Markets served as joint lead arranger and bookrunner.

Headquartered in St. Louis, MO, Furniture Brands International is a global provider in designing, manufacturing and selling home furnishings. Sold through specialized interior designers, independent retailers and mass merchant stores, the company’s brands include Thomasville, Lane and Broyhill.

“This credit facility will provide the financial flexibility we need to execute our business plans,” said Vance Johnston, senior vice president and chief financial officer of Furniture Brands International. “GE Capital brought in-depth retail expertise to the deal, and this capital structure supports our growth strategies.”

“Our specialty is providing capital that helps build middle-market companies,” said Jim Hogan, senior managing director of GE Capital, Corporate Finance. “We have a long-term interest in our customers’ growth, and work closely with them to find the right financing solutions in all economic cycles.”

Previously on abfjournal.com:

Furniture Brands Closes $250MM Credit Facility With GE, Others, Thursday, September 27, 2012