Press release from Business Wire
GE Capital is Sole Lender on $76.8 Million Asset-Based Credit Facility for Pacific Coast Feather Company
Monday, July 22, 2013
GE Capital is Sole Lender on $76.8 Million Asset-Based Credit Facility for Pacific Coast Feather Company08:00 EDT Monday, July 22, 2013
NORWALK, Conn. (Business Wire) -- GE Capital, Corporate Finance today announced it provided a $76.8 million asset-based credit facility to Pacific Coast Feather Company, a leading manufacturer and distributor of high quality basic bedding products. The loan was used to refinance existing debt and to support ongoing working capital needs.
Established in 1884 and headquartered in Seattle, WA, Pacific Coast Feather Company manufactures luxury down and down alternative bedding for sale primarily to retailers and luxury hotels across the nation. The company specializes in a number of products including pillows, comforters, mattress pads and feather beds.
“GE Capital worked with us to build a credit facility that provides the liquidity we need to operate our business effectively,” said Joe Crawford, president and CEO of Pacific Coast Feather Company. “We are excited to be working with a lender that understands the needs of companies like ours.”
“Mid-size companies value financing solutions that offer them the flexibility and the means to reach their business goals,” said Bob McCarrick, chief commercial officer—lending at GE Capital, Corporate Finance. “We provide smarter, business-building capital to manufacturers and distributors to help them move forward.”
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. Financing supports working capital, growth, acquisitions, turnarounds and balance sheet optimization in key sectors: 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. With Access GE, clients also benefit from access to GE's best practices to help build their business. Visit gelending.com/clnewsor 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, Corporate Finance
Jeff Wilson, 203-749-6340
GE Capital, Americas
Allison Perkins, 203-229-1447