Daily News: February 28, 2014

GE Capital Completes $5.5B of TMT Business in 2013


GE Capital’s Telecom, Media and Technology (TMT) financing business announced it completed 59 deals totaling more than $5.5 billion during 2013. The TMT business addressed the financial needs of customers in the cable, data center, metro fiber, radio, TV, digital media and software industries, among others

“We bring significant industry knowledge to our client relationships,” said Pete Foley, senior managing director of GE Capital’s Telecom, Media and Technology team. “We fully leverage GE’s media and technology expertise to structure smarter, more flexible credit facilities that help our customers achieve their growth goals.”

Below is a brief description of several noteworthy 2013 transactions:

Connoisseur Media

  • In May of 2013, GE Capital acted as administrative agent on a new $75 million credit facility for Connoisseur Media to fund their acquisition of certain assets of Cox Media and Nassau Broadcasting. GE Capital Markets served as joint lead arranger and joint bookrunner on the transaction. Connoisseur Media is one of America’s fastest growing media companies. Based in Westport, Connecticut, the company owns 37 radio stations operating in 13 markets around the United States.
  • “GE Capital provides tailored financing solutions that have fueled our growth,” said Jeffrey Warshaw, CEO of Connoisseur Media. “We appreciate GE Capital’s unique knowledge and understanding of the media industry.”

  • In April of 2013, GE Capital acted as administrative agent on a $185 million senior credit facility for iParadigms, a leading provider of cloud-based educational technologies to prevent plagiarism, verify content, and evaluate students’ written work. GE Capital served as joint lead arranger and joint bookrunner on the transaction.
  • “Operating in the rapidly developing cloud-tech arena, we need our lender to have experience in this industry,” said Chris Caren, Chairman and CEO of iParadigms. “GE Capital understands our business.”

  • In July of 2013, GE Capital acted as administrative agent on a $70 million senior credit facility supporting BBH & BCI Management’s acquisition of James Cable, a provider of incumbent video, HSD, and telephony to subscribers in Georgia, Oklahoma/Texas, Louisiana, Wyoming, and Tennessee.