GE Capital Agents $38MM Canam Term Loan
GE Capital, Canada agented a $38 million term loan facility to Canam Group, North America’s largest steel components fabricator. GE Capital Markets, Canada served as lead arranger of the facility.
The new facility will be used to refinance existing debt and provide working capital.
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.”