Daily News: April 26, 2012

GE Capital Provides $70MM Asset-Based Facility for Le Chateau

GE Capital, Corporate Finance announced it is administrative agent for a $70 million asset-based credit facility for Le Chateau, a Canadian specialty retailer and apparel manufacturer. The loan will be used to refinance existing debt and support working capital needs.

Headquartered in Montreal, Le Chateau specializes in the design, development and production of contemporary fashion apparel, accessories and footwear. Le Chateau has 239 stores in Canada as well ten stores under license in the Middle East. Through its vertically integrated operations, Le Chateau produces approximately 35 percent of its garments in its own production facilities in Canada.

“GE Capital understands that flexible structuring leads to effective capital solutions,” said Emilia Di Raddo, president and secretary of Le Chateau. “Their retail industry expertise and knowledge of our local markets are real differentiators.”

“One of our specialties is providing lending and leasing solutions that are tailored specifically to the needs of middle-market companies,” said Katherine Lee, president and CEO for GE Capital, Canada. “Our retail industry expertise is matched by years of experience working in Canada.”

“We are committed to working with retailers to provide them with the business-building capital they need,” said Jim Hogan, senior managing director of GE Capital, Corporate Retail Finance. “Our structuring and industry expertise allows us to provide smarter capital when companies need it the most.”

GE Capital, Corporate Retail Finance is a provider of senior secured loans to retailers, primarily in the U.S. and Canada.