GE Antares last week announced it is the administrative agent for an amended and restated $250 million senior secured revolving credit facility to support the refinancing of H&E Equipment Services. GE Capital Markets served as sole lead arranger for the credit facilities.
H&E will use the credit facility to meet its future working capital and general corporate needs.
Baton Rouge, La.-based H&E Equipment Services, No. 11 on the RER 100, has 47 full-service facilities throughout the Intermountain, Southwest, Gulf Coast and Southeast regions of the United States.
"GE was able to provide a creative structure and eliminate high cost capital under the facility,” said Bruce Robertson, managing director of GE Antares. “We have worked with H&E for several years. Our in-depth knowledge of the company allowed for our deal team to quickly and reliably deliver a flexible capital structure solution."
Leslie Magee, H&E Equipment Services chief financial officer, added, "Given our operational momentum in recent years, we expect this successful refinancing will improve our financial flexibility. We appreciate GE's responsiveness and support of H&E and our management team's plans for growth."
GE Antares Capital is a unit of GE Commercial Finance. With more than $8 billion in assets, and offices in Boston, Chicago, London, New York and San Francisco, GE Antares offers a "one-stop" source for GE's lending and other services offered to the private equity sponsor middle market.