GE Commercial Finance’s Global Sponsor Finance business today announced it served as administrative agent for a $225 million term loan Add-on facility to United Agri Products, Inc. GE Capital Markets served as sole lead arranger and sole bookrunner.The Add-on provides additional liquidity to fund future acquisitions and capital expansion opportunities for UAP’s growth strategies.
UAP is the largest independent distributor of agricultural and non-crop inputs in the United States and Canada. The Company markets a comprehensive line of products including chemicals, seed, and fertilizer to growers and regional dealers. As part of the Company's product offering, it provides a broad array of value-added services including crop management, biotechnology advisory services, custom blending, inventory management and custom applications of crop inputs.
“Once again it was our pleasure to work closely with UAP and their outstanding management team,” said Tony McCord, Managing Director at GE Global Sponsor Finance. “Our team quickly and reliably delivered a capital structure in very uncertain markets, and upsized the Add-on facility from $150 million to $225 million. Given today’s capital markets, it is a true testament to UAP’s financial performance and standing in the market.”
Dennis Roerty, UAP’s Treasurer said, “Given our operational momentum in recent years, we expect this successful Add-on to support our current growth strategy. We appreciate how GE has proven that it is responsive and supportive of UAP and our management team’s plans for growth.”
About United Agri Products, Inc.
UAP is the largest independent distributor of agricultural and non-crop products in the United States and Canada. The Company markets a comprehensive line of products, including chemicals, fertilizer, and seed to farmers, commercial growers, and regional dealers. UAP also provides a broad array of value-added services, including crop management, biotechnology advisory services, custom fertilizer blending, seed treatment, inventory management, and custom applications of crop inputs. UAP maintains a comprehensive network of approximately 370 distribution and storage facilities and three formulation plants, strategically located in major crop-producing areas throughout the United States and Canada. Additional information can be found on the Company's website, www.uap.com.
About GE Commercial Finance, Global Sponsor Finance
With over $8 billion in assets, and offices in Boston, Chicago, Dallas, London, Los Angeles, New York, and San Francisco, GE Commercial Finance, Global Sponsor Finance represents a “one-stop ” source for the comprehensive range of GE’s lending and other structured financial services offered to the private equity sponsor market. For more information, please visit www.gegsf.com.
About GE Commercial Finance
GE Commercial Finance, which offers businesses around the globe an array of financial products and services, has assets of over $250 billion and is headquartered in Norwalk Connecticut. 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. With products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media content and advanced materials, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit the company’s website at www.ge.com.
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