GE Antares, GE Capital’s private equity financing business, has it provided a USD75m asset-based loan facility to Motor Coach Industries as part of the company’s recapitalization enabli
GE Antares, GE Capital’s private equity financing business, has it provided a USD75m asset-based loan facility to Motor Coach Industries as part of the company’s recapitalization enabling it to emerge from Chapter 11.
MCI manufactures intercity coaches for the tour, charter, line-haul, scheduled service, and commuter transit sectors in the US and Canada. The company also operates eight service centers in the US and Canada and supplies aftermarket parts for most makes and models.
‘We appreciate the benefits of having a long-term relationship with GE Capital,’ says Mike McIlwain, chief financial officer, MCI. ‘This relationship was helpful in enabling us to put all the necessary financing pieces together for a comprehensive solution under some very challenging conditions.’
‘We are pleased to be able to support MCI as it moves ahead to its next stage of development,’ adds Tony McCord, a Managing Director with GE Antares.
