GE Capital, Restructuring Finance said this week it is a co-lender for a $175 million debtor-in-possession credit facility for Neff Rental, which entered prepackaged Chapter 11 bankruptcy protection last month. The loan will be used for working capital needs as the company restructures.
GE Capital Markets served as co-lead arranger.
“We value a lender with turnaround finance expertise and the willingness to work with us in both good and challenging times,” said Mark Irion, chief financial officer for Neff. “GE’s significant commitment helps provide stability and liquidity as we focus on our restructuring efforts and confirming our prearranged plan.”
“Since 1995, GE Capital has worked closely with Neff to provide the company with capital to help meet its business objectives,” said Rob McMahon, managing director, GE Capital, Restructuring Finance. “In-depth knowledge of our borrowers and their industry means long-term relationships and financial flexibility for our customers.”
Based in Miami, Neff Rental is No. 16 on the RER 100.
