GE Capital is Administrative Agent on $1.335 Billion in Senior Credit Facilities to Sotheby’s
June 17 2015 - 8:00AM
Business Wire
GE Capital, Corporate Finance today announced it is serving as
administrative and collateral agent on $1.335 billion in senior
credit facilities for auction house Sotheby’s (NYSE:BID). The new
facilities include a $485 million credit line increase that will be
used for growth in Sotheby’s finance business. GE Capital Markets
served as joint lead arranger and joint book runner on the
facilities.
Founded in 1744, Sotheby’s is one of the world’s largest
auctioneers of authentic fine art, antiques, jewelry and
collectibles. Headquartered in New York City, it serves discerning
clients from around the world. Sotheby’s has been a GE Capital
customer since 2009.
“We’ve counted on GE Capital to provide us with the right
financing when we need it,” said Michael Gillis, senior vice
president and treasurer of Sotheby’s. “We value our long-term
relationship and their ability to customize financing solutions for
us.”
“We know how important it is for Sotheby’s to have the right
capital in place to keep growth and operations moving forward,”
said Bob McCarrick, chief commercial officer at GE Capital,
Corporate Finance. “We strive to provide optimal flexibility and
availability of financing for our customers.”
About GE Capital, Corporate Finance
GE Capital, Corporate Finance provides asset-based, cash flow
and structured loans and leases to mid-size and large U.S.
businesses expanding in North America, Asia and Europe. Financing
supports working capital, growth, acquisitions, turnarounds and
balance sheet optimization in key sectors: Aerospace; automotive
and transportation; chemicals and plastics; construction and
building products, corporate aircraft; oil and gas; food and
beverage; manufacturing; marine; metals and mining; paper,
packaging and forest products; retail; and technology and
electronics. With Access GE, clients also benefit from access to
GE’s best practices to help build their business. Visit
geccf.com/newsroom or follow @GELendLease on Twitter.
GE Capital offers consumers and businesses around the globe an
array of financial products and services. For more information,
visit gecapital.com or follow company news via Twitter
(@GECapital). 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. For more information, visit ge.com.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20150617005162/en/
GE CapitalTara Lambropoulos,
312-441-7854tara.lambropoulos@ge.com
Sothebys (NYSE:BID)
Historical Stock Chart
From Mar 2024 to Apr 2024
Sothebys (NYSE:BID)
Historical Stock Chart
From Apr 2023 to Apr 2024