GE Capital, Corporate Finance today announced it is providing a $400
million credit facility to help fund the acquisition of Wise Metals
Intermediate Holdings LLC (Wise) by Constellium N.V. (NYSE and Euronext:
CSTM), a global producer of aluminum products. Wise is North America’s
third-leading producer of aluminum can sheet for the beverage industry.
GE Capital Markets served as lead arranger and joint bookrunner on the
facility.
Constellium, headquartered in Amsterdam, the Netherlands, supplies
aluminum products to industries including aerospace, automotive and
packaging. The acquisition of Wise, which has one of the widest hot
strip mills in North America, is expected to grow Constellium’s overall
production capacity and contribute to its North American platform for
body-in white automotive sheet production.
"GE Capital’s relationship with Wise and understanding of the metals
industry made them a strong partner for our lending needs,” said Mark
Kirkland, group treasurer for Constellium. “Working with a lender who
has experience in our industry and in financing acquisitions is a value
add as we grow our company.”
“Providing financing in connection with this acquisition allows for a
great opportunity for both companies,” said Paul Feehan, senior managing
director for GE Capital, Corporate Finance. “Our deep expertise in
metals and mining means we can provide companies with the best financing
solution to help fund their growth.”
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 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.
Copyright Business Wire 2015