GE – Corporate Lending Provides $160 Million to Huttig Building Products, Inc.

NORWALK, Conn.--(BUSINESS WIRE)--GE Commercial Finance – Corporate Lending announced today that it has provided a $160-million asset-based credit facility to Huttig Building Products, Inc. (NYSE: HBP), a leading domestic distributor of millwork, building materials and wood products used principally in new residential construction and home improvement.

Huttig will use the loan to refinance existing debt and for general corporate purposes. GE Capital Markets arranged the transaction.

"The new credit facility provides the company with additional liquidity, greater financial flexibility and substantially improves our debt structure,” said David L. Fleisher, Huttig's Chief Financial Officer. “It increases our borrowing availability and offers better terms.”

“Providing financing solutions to support our clients throughout their business life-cycle is something we specialize in,” said Tom Quindlen, president & CEO of GE Corporate Lending. “We worked closely with Huttig to understand their financing needs and structured a facility that provided them with smarter capital to help meet their operating requirements.”

About Huttig Building Products, Inc.

Huttig Building Products, Inc. is one of the largest domestic distributors of millwork, building materials and wood products used principally in new residential construction and in home improvement, remodeling and repair work. The Company's 42 wholesale distribution centers throughout the U.S. sell principally to building materials dealers, national buying groups, home centers and industrial users, including makers of manufactured homes.

About GE Corporate Lending

With $15 billion in assets, GE Commercial Finance - Corporate Lending is one of North America’s largest providers of asset-based, cash flow, structured finance and other complementary solutions for mid-size and large companies. From over 30 offices throughout the U.S. and Canada, Corporate Lending specializes in serving the unique needs of borrowers seeking $10 million to $1 billion and more for working capital, growth, acquisitions, project finance and turnarounds. Visit gelending.com for more information.

About GE Commercial Finance

GE Commercial Finance, which offers businesses around the globe an array of financial products and services, has assets of over $200 billion and is headquartered in Norwalk, Connecticut. 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. GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit the company’s website at ge.com.