Daily News: October 3, 2013

GE Capital Provides $53.9MM ABL to World Family

GE Capital signed a definitive credit agreement with World Family K.K., a wholly owned subsidiary of World Family English Holdings, to provide up to 5.25 billion Japanese Yen ($53.9 million) comprised of amortizing and revolving credit facilities in Japan.

The facilities were put in place to support working capital needs arising from the growth of the World Family business.

Clark D. Griffith, managing director of Structured Finance, GE Capital Japan, said, “We have enjoyed a strong relationship with World Family since 2011 and are pleased and excited to expand their credit facilities to support their business growth. We look forward to continuing this strong relationship and helping World Family achieve their strategic goals to grow in Japan and the Asia Pacific region. GE Capital has a strong ABL platform in the U.S and plans to grow its asset based loan business in Japan and throughout Asia.”

Robert Parker, president and CEO of World Family, said, “It has been a real pleasure working with the dedicated GE Capital Japan team. Their deep experience in the asset based lending marketplace and the responsiveness of the GE Capital Japan team to our financing needs have been key to fostering our growth and building a strong working relationship between World Family and GE. We look forward to expanding that relationship in the years ahead.”

World Family is a leading provider of English language learning products and services for children.