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GE Capital, Corporate Retail Finance, an operating unit of General Electric Company (GE - Free Report) , recently served as administrative agent for a senior secured credit facility worth $550 million for Lord & Taylor. The debt financing will be executed to refinance the existing debt of Lord & Taylor and facilitate its working capital requirements to fuel further growth.

Based in New York City, Lord & Taylor is a premier retailer in North America. Founded in 1826, the company operates one of the oldest specialty-retail department stores in the country with 49 retail outlets in the eastern U.S. and an online store. Lord & Taylor is a wholly-owned subsidiary of Hudson’s Bay Company, the oldest continually operated company in North America since its inception in 1670.

Lord & Taylor is likely to utilize the credit facility to fuel both organic and inorganic growth. In addition, the company will also use the debt financing transaction to reduce its interest burden by refinancing its existing debt.

General Electric is one of the largest and the most diversified technology and financial services corporations in the world. With products and services ranging from aircraft engines, power generation, water processing, and security technology to medical imaging, business and consumer financing, media content and industrial products, the company serves over 100 million customers worldwide.

Its segments include Power & Water, Oil & Gas, Energy Management, Aviation, Healthcare, Transportation, Home & Business Solutions, and GE Capital. GE Capital, Corporate Retail Finance offers asset-based, cash flow and structured loans to support the working capital requirements of mid-size and large firms. The company focuses on key sectors such as aerospace and defense; automotive and transportation; chemicals and plastics; construction and building products, corporate aircraft; energy; food and beverage; manufacturing; marine; metals and mining; paper, packaging and forest products; retail; and technology and electronics.

General Electric currently has a Zacks Rank #3 (Hold). Other companies in the industry that are worth mentioning include CLARCOR Inc. , Compass Diversified Holdings (CODI - Free Report) , and Honeywell International Inc. (HON - Free Report) , each carrying a Zacks Rank #2 (Buy).

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