13.06.2010

GE Capital funds Neff

GE Capital Restructuring Finance has announced that it is a co-lender for the $175 debtor in possession credit line for Neff Rental, which filed for protection from its creditors under the Chapter 11 bankruptcy laws in May.

The funds are intended to provide cash flow and working capital while the company restructures itself.

Neff’s chief financial officer Mark Irion, said: “We value a lender with turnaround finance expertise and the willingness to work with us in both good and challenging times. GE’s significant commitment helps provide stability and liquidity as we focus on our restructuring efforts and confirming our prearranged plan.”

Rob McMahon, managing director of GE Capital, Restructuring Finance added: “Since 1995, GE Capital has worked closely with Neff to provide the company with capital to help meet its business objectives. In-depth knowledge of our borrowers and their industry means long-term relationships and financial flexibility for our customers.”