GE Commercial Finance is Administrative Agent in $240MM Senior Secured Credit Facility for Leading Provider of Data Communications Services
Commercial Finance today announced it acted as administrative agent for a $240 million senior secured credit facility for the recapitalization of Transaction Network Services (“TNS”). GE Capital Markets served as sole lead arranger.
The financing consisted of a $15 million senior secured revolving credit facility and a $225 million senior secured term loan. Proceeds were used to fund a special dividend payment and to refinance existing senior indebtedness.
“As illustrated with TNS, GE Commercial Finance continues to deliver a full range of financing options, with flexibility and timeliness and rigorous focus on the special needs of a company as well as the transaction situation,” said Thomas Beck, Senior Vice President of GE Antares Capital.
Henry Graham, TNS CEO, said, “We appreciate GE Commercial Finance’s support and responsiveness on the TNS financing. We look forward to continuing the strong working relationship that we have developed with GE.”
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