GE Capital, Healthcare Financial Services said that it is serving as administrative agent on a $45 million senior secured credit facility for The Brooklyn Hospital Center. The financing refinanced existing debt and is being used for ongoing working capital needs. GE Capital Markets served as sole lead arranger and bookrunner on the facility.
Headquartered in Brooklyn, NY, The Brooklyn Hospital Center (TBHC) is a 464-bed not-for-profit acute care hospital. Affiliated with New York Presbyterian Health System, TBHC offers a full range of high-quality inpatient, ambulatory and emergency services together with the finest specialty care and latest technology.
“GE Capital, Healthcare Financial Services has been part of our lending group for many years, so they know our business well and brought that knowledge to bear when leading this current round of financing,” said Joseph Guarracino, senior vice president and CFO for The Brooklyn Hospital Center. “They worked diligently to structure the loan to meet our needs and delivered what they promised within a tight timeframe.”
“Our approach with every customer is to fully understand their needs, their assets and their longer-term goals so that we can deliver an optimal financing solution,” said Al Aria, senior managing director of Corporate Finance at GE Capital, Healthcare Financial Services. “We’re pleased to continue our relationship with The Brooklyn Hospital Center and support them in a greater capacity.”