NORWALK, Conn.--(BUSINESS WIRE)--GE Capital, Restructuring Finance ended 3Q as one of the most active providers of debtor-in-possession (DIP) and plan-of-reorganization (POR) financing in the U.S. and Canada, arranging or deploying approximately $2 billion throughout the first nine months of the year.
DIP financing is used by borrowers to fund ongoing working capital needs as they restructure under Chapter 11. POR, or exit financing, is utilized to support working capital needs upon emergence from bankruptcy.
“Financing is available for good companies with bad balance sheets, and our in-depth knowledge of the bankruptcy code and restructuring finance allows us to quickly respond to borrowers,” said Rob McMahon, managing director of GE Capital, Restructuring Finance. “This will be critical to more and more companies since the current pace of business bankruptcy filings will likely continue well into next year.”
Throughout 2009, GE Capital, Restructuring Finance has worked with turnaround advisors and corporate borrowers to meet their needs, including:
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.
About GE Capital
GE Capital offers consumers and businesses around the globe an array of financial products and services. GE (NYSE: GE) is Imagination at Work - a diversified technology, media and financial services company focused on solving some of the world's toughest problems. For more information, visit gecapital.com or follow company news via Twitter (@GECapitalNews).