GE Capital Co-Leads Expanded Credit Facility for Clearwater Seafoods
MONTREAL, June 26, 2013 /CNW Telbec/ - GE Capital, Corporate Finance today
announced that it is serving as administrative agent on approximately $350
million in revolving, term loan, and delayed draw term loan credit facilities
for Clearwater Seafoods (TSX: CLR, CLR.DB.A). The facilities will be used to
enhance Clearwater's capital structure as well as provide financing for a $45
million investment in a new vessel for clam harvesting operations. GE Capital
Markets served as joint lead arranger and joint bookrunner for the credit
Founded in 1976, Clearwater is one of North America's largest vertically
integrated seafood companies.
"We appreciate working with GE Capital, a financial advisor that offers much
more than just capital," said Ian Smith, chief executive officer of
Clearwater. "For example, the team at GE provided us with great thought
leadership in the use of technology to drive the efficient use of energy."
"We're pleased to expand our long relationship with Clearwater as they
continue to grow their business," said Kathy Lee, president and CEO, GE
Capital, Canada. "Our expertise across North America in the food industry, and
our capital markets capabilities, assisted Clearwater in successfully
executing this transaction."
Clearwater is one of North America's largest vertically integrated seafood
companies and the largest holder of shellfish licenses and quotas in Canada.
It is recognized globally for its superior quality, food safety, diversity of
species and reliable worldwide delivery of premium wild, eco-certified
seafood, including scallops, lobster, clams, coldwater shrimp, crab and
Since its founding in 1976, Clearwater has invested in science, people and
technological innovation as well as resource ownership and management to
sustain and grow its seafood resource. This commitment has allowed it to
remain a leader in the global seafood market and in sustainable seafood
About GE Capital, Canada
With 19 offices throughout Canada, GE Capital (gecapital.ca) offers a wide
variety of financial products and services to address commercial financing and
fleet management needs in many phases of a business' lifecycle. From equipment
finance to working capital and growth financing to large asset-based and
restructuring loans, we apply our wealth of industry expertise to develop
custom solutions for your company. Some of the industries in which we
specialize include transportation, construction, manufacturing, aerospace,
automotive, mining, energy, wholesale, retail, restaurant and hotel franchise
GE (NYSE: GE) works on things that matter. The best people and the best
technologies taking on the toughest challenges. Finding solutions in energy,
health and home, transportation and finance. Building, powering, moving and
curing the world. Not just imagining. Doing. GE works. For more information,
visit the company's website at www.ge.com.
GE Capital Allison Perkins 203-229-1447 firstname.lastname@example.org
SOURCE: GE CAPITAL CANADA
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-0- Jun/26/2013 18:19 GMT
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