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RAPAPORT... GE Capital's corporate retail finance division will administer a $100 million senior-secured credit facility for Samuels Jewelers. The proceeds will be used to refinance existing debt and to support ongoing working capital needs.
Robert Herman, the chief financial officer for Samuels Jewelers, said, ''GE Capital knows our company well and works closely with us to provide the financing we need to run our business. We particularly value their ability to finance our unique inventory and receivables.''
Jim Hogan, a managing director for GE Capital, said, ''Our team specializes in customizing loans that provide retailers with capital and flexibility to help them succeed. As the economy slowly recovers, we continue to put our balance sheet to work to support mid-market retailers.''
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