Daily News: June 6, 2012

GE Capital Co-Leads Expanded Facility for Clearwater Seafoods


GE Capital, Corporate Finance announced that it co-led $265 million in revolving and term loan credit facilities for Clearwater Seafoods. The facilities will be used to refinance Clearwater’s existing debt and support growth. GE Capital Markets structured the loans and served as joint lead arranger of the credit facilities.

“We appreciate having a financial provider with all of the human and capital resources of GE Capital,” said Ian Smith, chief executive officer of Clearwater.

“We’re very pleased to be able to expand our long relationship with Clearwater as they continue to build their business,” said Ellis Gaston, managing director, GE Capital, Corporate Finance, Canada. “Our domain expertise across North America in the food industry, our capital markets capabilities and our significant share of the entire facility, assisted Clearwater in successfully executing this transaction.”

Founded in 1976, Clearwater is one of North America’s largest vertically integrated seafood companies and the largest holder of shellfish licenses and quotas in Canada.