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GE Capital Boosts RadioShack Liquidity
GE Capital, Corporate Retail Finance, a division of
General Electric Company ( GE - Analyst Report) , recently served as an administrative agent for a $585 million senior secured credit facility for RadioShack Corporation . The facility included an additional $250 million secured term loan by Salus Capital Partners, LLC. The combined proceeds of $835 million will help RadioShack to refinance existing debt and will augment its liquidity, thus boosting its working capital requirements to fuel further growth.
RadioShack is a leading electronics retailer of mobile technology products and services. It also provides products related to personal and home technology and power supply needs. GE Capital’s expertise in retail finance played a vital role in structuring and arranging this new financing scheme for RadioShack. The retail finance specialists at GE Capital are dedicated to meet the capital requirements of midsize and large retailers from specialty to big box stores.
GE Capital, Corporate Retail Finance is a provider of senior secured loans and equipment finance to U.S. retailers, working capital, acquisition and balance sheet optimization.
General Electric, the parent company, 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. Its segments include Power & Water, Oil & Gas, Energy Management, Aviation, Healthcare, Transportation, Home & Business Solutions and GE Capital.
General Electric currently has a Zacks Rank #3 (Hold). Other companies in the industry that are worth mentioning include ITT Corp. ( ITT - Analyst Report) and Hutchison Whampoa Ltd . Both of these stocks carry a Zacks Rank #2 (Buy).