Press release from Business Wire
GE Capital Provides $150 Million Debtor-in-Possession Financing to Vertis Holdings, Inc.
Monday, October 22, 2012
GE Capital Provides $150 Million Debtor-in-Possession Financing to Vertis Holdings, Inc.08:00 EDT Monday, October 22, 2012 NORWALK, Conn. (Business Wire) -- GE Capital, Restructuring Finance today announced it is administrative agent on a $150 million debtor-in-possession credit facility for Vertis Holdings, Inc., a marketing communications company. The loan will be used for working capital needs as the company continues operations under Chapter 11. GE Capital Markets served as lead arranger. Based in Baltimore, MD, Vertis is a provider of targeted advertising and marketing solutions to leading retail and consumer services companies across North America. Their offerings include integrated data solutions, digital program management systems, creative services, print and mail production and logistics. “GE Capital has been our lender for many years and we appreciate their ongoing support through both good and challenging times,” said Gerald Sokol, Jr., CEO of Vertis. “As we move towards a sale of our company to Quad/Graphics, Inc., GE's expertise has helped to ensure a smooth transition, allowing us to continue to serve our clients.” “We have a long history of guiding customers through the complexities of turnaround finance,” said Jim Hogan, senior managing director of GE Capital, Restructuring Finance. “This enables us to provide critical capital to middle-market businesses to meet their objectives.” About GE Capital, Restructuring Finance GE Capital, Restructuring Finance is a leading provider of senior secured loans to distressed companies supporting Chapter 11 filings, plan-of-reorganizations and out-of-court restructurings. Visit gelending.com/clnews 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. GE Capital, Restructuring FinanceJeff Wilson, firstname.lastname@example.orgGE Capital, AmericasNed Reynolds, email@example.com