Daily News: February 4, 2013

GE Capital Agents $500MM Facility for Axiall

GE Capital, Corporate Finance said it is serving as administrative agent on a $500 million asset-based credit facility for Axiall, which was created by the merger of Georgia Gulf and the commodity chemicals business of PPG Industries.

GE Capital Markets served as co-lead arranger and joint bookrunner for the transaction. The loan is being used for general corporate purposes.

Headquartered in Atlanta, GA, Axiall is a North American chemicals and building products manufacturer.

“GE Capital has been our lender for more than three years, so they have a deep understanding of our business,” said Thomas Donahue, vice president and corporate treasurer for Axiall. “Throughout that time, they have worked with us to modify our financing structures so that our financial flexibility has increased as we have evolved.”

“Middle-market customers know they can count on us for significant financial commitments and customized solutions to help support their business objectives,” said Bob McCarrick, chief commercial officer, lending for GE Capital, Corporate Finance. “We work closely with customers to ensure they have the capital they need to build their business.”