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Article: GE Capital, Restructuring Finance Provides $2 Billion in Turnaround Financing Through 3Q 2009.
- Article from:
- Business Wire
- Article date:
- November 12, 2009
CopyrightCOPYRIGHT 2009 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Increased demand for restructuring finance expected to continue through 2010
NORWALK, Conn. -- GE Capital, Restructuring Finance ended 3Q as one of the most active providers of debtor-in-possession (DIP) and plan-of-reorganization (POR) financing in the U.S. and Canada, arranging or deploying approximately $2 billion throughout the first nine months of the year.
DIP financing is used by borrowers to fund ongoing working capital needs as they restructure under Chapter 11. POR, or exit financing, is utilized to support working capital needs upon emergence from bankruptcy.
"Financing is available for good companies with bad balance sheets, and ...
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