GA Capital, LLC Announces Term Loan to Borders Group, Inc.
WOODLAND HILLS, CA -- (Marketwire) -- 03/31/10 -- Great American
Group(R)*, Inc. (OTCBB: GAMR) today announced that its subsidiary GA
Capital, LLC will serve as the administrative agent on a $90 million
term loan facility to Borders Group (NYSE: BGP). The $90 million term
loan facility is part of a larger re-financing effort by the company
which includes a new, $700 million senior secured asset-based credit
facility, which matures in March 2014.
"We are thrilled to support Borders Group through this new financing,
and are looking forward to the partnership," said Daniel Platt,
President & Portfolio Manager of GA Capital.
Mark Bierley, Chief Financial Officer of Borders Group, stated, "We
are pleased to have the continued support of our lending group and
term loan investors. With the completion of these transactions, the
company can turn its focus to driving sales growth and improving
Andy Gumaer, Chief Executive Officer of Great American Group, Inc.,
added, "GA Capital is one of our growth initiatives, and the Borders
Group transaction evidences our creative ability to assist companies
with their financing needs."
GA Capital, LLC, based in Boston, MA, is a subsidiary of Great
American Group, Inc. and is a provider of junior secured loans to
retailers in need of growth capital, working capital, and turnaround
About Great American Group(R)
Great American Group, Inc. is a leading provider of asset disposition
solutions and valuation and appraisal services to a wide range of
retail, wholesale and industrial clients, as well as lenders, capital
providers, private equity investors and professional service firms.
Great American Group has offices in Atlanta, Boston, Chicago, Dallas,
London, Los Angeles, New York and San Francisco.
*Great American Group and the Eagle Design are trademarks registered
in the US Patent and Trademark Office and are exclusive property of
Great American Group, Inc.
Great American Group
Phil Ahn, SVP Strategy & Corporate Development
Great American Group
Laura Wayman, Vice President of Marketing
847-444-1400 ext. 312
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