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Latest GE Commercial Finance Corporate Lending Stories

2008-10-23 09:00:27

GE Commercial Finance Corporate Lending today announced it has provided a $200 million asset-based credit facility to Severstal Warren, Inc., a steel producer and indirectly owned subsidiary of OAO Severstal. The loan will be used for ongoing working capital needs. Based in Warren, OH, Severstal Warren is an integrated flat-rolled steel producer with an annual raw steel capacity of 1.4 million tons. The company produces more than 185 grades of high-quality steel used by strip converters,...

2008-10-15 09:00:26

GE Commercial Finance Corporate Lending today announced a $100 million increase in senior secured financing for Severstal Columbus, a next generation steel mill based in Columbus, MS. This increase in funds brings the total project financing for the company, formerly known as SeverCorr, to $577.5 million. GE Capital Markets arranged the transaction as co-lead arranger. The loan will be used to expand the mill, doubling its steel producing capacity to 3 million tons per year. The...


Word of the Day
omphalos
  • The navel or umbilicus.
  • In Greek archaeology: A central boss, as on a shield, a bowl, etc.
  • A sacred stone in the temple of Apollo at Delphi, believed by the Greeks to mark the 'navel' or exact center-point of the earth.
'Omphalos' comes from the ancient Greek.
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