GE Capital, Corporate Finance, an operating unit of General Electric Company (GE), recently served as the administrative agent for a revolving credit facility worth $600 million for Axiall Corporation (AXLL). The debt financing will be utilized by Axiall for its working capital requirements to fuel further growth. However, shares of General Electric decreased marginally on Jan 9 following the announcement, as overall equity market fell on global cues.
Headquartered in Atlanta, GA, Axiall is a leading player in the chemistry sector. Its product portfolio includes a breadth of integrated chemicals and building products for consumer, professional, and industrial applications. The company has manufacturing facilities across North America and Asia to serve its customers throughout the world.
Axiall will utilize the credit facility to spur its organic growth. The company specifically intends to customize financial solutions to better serve its mid-size customers. The strategic move is aimed to reinforce its commitment to harness the natural elements of the planet to improve everyday life and drive human progress.
General Electric is one of the largest and the most diversified technology and financial services corporations in the world. 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 industrial products, the company serves over 100 million customers worldwide.
Its segments include Power & Water, Oil & Gas, Energy Management, Aviation, Healthcare, Transportation, Home & Business Solutions, and GE Capital. GE Capital, Corporate Finance provides asset-based, cash flow and structured loans to support the working capital requirements of mid-size and large firms. The company focuses on key sectors such as aerospace and defense; automotive and transportation; chemicals and plastics; construction and building products, corporate aircraft; energy; food and beverage; manufacturing; marine; metals and mining; paper, packaging and forest products; retail; and technology and electronics.
General Electric currently has a Zacks Rank #4 (Sell). Some other companies in the industry that are worth mentioning include Compass Diversified Holdings (CODI) and Adept Technology Inc. (ADEP), both having a Zacks Rank #2 (Buy).
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