Daily News: October 8, 2013

GE Capital Provides $100MM Facility for Samuels Jewelers

GE Capital, Corporate Retail Finance said it is administrative agent and sole lender on a $100 million senior secured credit facility for Samuels Jewelers. The proceeds will be used to refinance existing debt and to support ongoing working capital needs. GE Capital Markets served as lead arranger.

Founded in 1891 and headquartered in Austin, TX, Samuels Jewelers sells contemporary and uniquely styled fine jewelry online and through its retail stores located across the U.S. The company focuses on providing value through innovation, creativity and personal attention.

“GE Capital knows our company well, and works closely with us to provide the financing we need to run our business,” said Robert Herman, CFO for Samuels Jewelers. “We particularly value their ability to finance our unique inventory and receivables.”

“Our team specializes in customizing loans that provide retailers with capital and flexibility to help them succeed,” said Jim Hogan, senior managing director, GE Capital, Corporate Retail Finance. “As the economy slowly recovers, we continue to put our balance sheet to work to support mid-market retailers.”