GE Capital Agents Facility for Electrical Components
GE Capital said it is administrative agent on a $195 million cash-flow credit facility for Electrical Components International (ECI). The proceeds will refinance debt, support ongoing working capital needs and be used for other corporate purposes. GE Capital Markets served as joint lead arranger and joint book runner.
Founded in 1953 and based in St. Louis, MO, ECI is a global manufacturer of wire harnesses and provider of assembly services. ECI’s wire harness products are used in a variety of applications such as major appliances, agricultural and construction equipment, heating, ventilating and air conditioning, specialty transportation, commercial appliance and the commercial electronic industries. ECI has more than 14,000 employees and global manufacturing and logistics facilities.
“We’ve worked with GE for over 20 years and they’ve come to know our company well,” said David Webster, CEO of ECI. “We value having GE’s industry knowledge and expertise to help meet our business and capital needs.”
“Manufacturers today benefit from working with proactive lenders with debt capital markets expertise,” said Tom Quindlen, president and CEO of GE Capital, Corporate Finance. “We provide smart capital to middle-market companies to help them meet business objectives.”