Daily News: January 11, 2012

GE Capital Provides $3.4B in Telecom, Media, Tech Financing

GE Capital said its Telecom, Media and Technology (TMT) financing business completed 38 deals totaling $3.4 billion in financing during 2011.

“This has been an active year for financing across our industries,” said Pete Foley, senior managing director of GE Capital’s TMT team. “Despite continued uncertainty in the market, good transactions are being financed. It is encouraging to see these deals close and we remain optimistic about 2012.”

The business addresses the financial needs of customers in key growth sectors, including cable, towers, metro fiber, TV, digital media and software, among others. During 2011, acquisitions and refinancing activity were prominent, with a record number of companies turning to GE for financing.

“Beyond simply accessing capital, customers come to GE because of our industry expertise as well as the added value we provide through collaboration and the sharing of best practices,” continued Foley. “Through Access GE, we are leveraging GE’s diverse expertise and knowledge, helping our customers build stronger businesses.”

To read the full GE Capital news release, click here.