GE Capital Co-Leads $230 Million Term Loan for Transaction Network Services, Inc. to Support Acquisition
NORWALK, Conn. - GE Capital, Corporate Finance today announced it served as co-administrative agent for a $230 million cash flow term loan to Transaction Network Services, Inc. (NYSE:TNS), a leading provider of secure data, network and telecommunications services. The new loan increases the company’s existing credit facility to $423.5 million to support the acquisition of the Communication Services Group (CSG) from VeriSign, Inc.
Founded in 1990, Reston, Virginia- based TNS has been a GE Capital client since 2001. TNS provides networking, data communications, telecommunications, financial transactions services and more to retailers, banks, payment processors and others worldwide.
“GE Capital’s financial commitment helped secure the resources needed to take advantage of the unique and highly strategic opportunity we found in the CSG acquisition,” said Dennis L. Randolph, Jr., executive vice president and CFO for TNS. “GE Capital understands our business and has grown with us over the years. This incremental capital has helped catapult our global competitive services offering to the next level.”
“Providing capital to borrowers to help foster their growth plans has never been more important,” said Tom Quindlen, president and CEO of GE Capital, Corporate Finance. “GE Capital’s unique combination of industry expertise, solid underwriting and vast resources means smarter liquidity for clients.”
About GE Capital, Corporate Finance
GE Capital, Corporate Finance is one of the largest providers of asset-based, cash flow and structured loans and leases for mid-size and large U.S. businesses. Financing supports working capital, growth, acquisitions, turnarounds and balance sheet optimization in key sectors: Aerospace & Defense, Automotive & Transportation, Chemicals & Plastics, Corporate Aircraft, Financial & Business Services, Food, Beverage & Agribusiness, Government Finance, Marine, Metals & Mining, Paper, Packaging & Forest Products, Retail, Technology & Electronics. Visit gelending.com/clnews.
About GE Capital
GE Capital offers consumers and businesses around the globe an array of financial products and services. GE (NYSE:GE) is Imagination at Work - a diversified technology, media and financial services company focused on solving some of the world’s toughest problems. For more information, visit the company’s Web site at ge.com.
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