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Business Services Industry

GE Corporate Lending Provides $275 Million Credit Facility to Support Acquisition of SP Newsprint

Business Wire, May 12, 2008

NORWALK, Conn. -- GE Commercial Finance Corporate Lending today announced it provided a $275 million senior secured credit facility to private investors for the acquisition of SP Newsprint. The loan consisted of cashflow- and asset-based financing. GE Capital Markets arranged the transaction.

SP Newsprint is a privately held producer of newsprint, which is used primarily for the printing of newspapers. The acquisition of Atlanta, GA-based SP Newsprint included the company's two newsprint mills in the United States as well as SP Recycling Corp., SP Newsprint's wholly owned recycling subsidiary.

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"GE's paper industry expertise allowed them to quickly understand our business plans and borrowing needs," said Peter Brant, one of the private investors acquiring SP Newsprint. "Also, GE's ability to make a significant financial commitment helped provide us with the capital we required."

"Pressures in the North American newsprint sector are precipitating industry consolidation," said Jon Rager, pulp, paper and packaging industry leader for GE Corporate Lending. "As a result, there are reasonably priced, strategic acquisition opportunities, like SP Newsprint, with great long-term potential."

To view a brief video featuring Pulp, Paper and Packaging Industry Leader, Jon Rager, visit http://www.gelending.com/Clg/http_stream/rager_video/rager.html? catagory=undefined&id=undefined&bandwidth=Infinity (Due to its length, this URL may need to be copied/pasted into your Internet browser's address field. Remove the extra space if one exists.)

Industry Specialization

To better meet the unique financing needs of customers, GE Corporate Lending has a team of Industry Leaders supported by dedicated research analysts. These industry experts help build smarter financing solutions for companies across key industries: Aerospace & Defense; Automotive; Chemicals & Plastics; Construction; Food, Beverage & Agribusiness; Financial & Business Services; Forest Products; General Manufacturing; Metals and Mining; Restructuring; Retail; Technology & Electronics; and Transportation.

About GE Corporate Lending

With $16 billion in assets, GE Commercial Finance Corporate Lending is one of North America's largest providers of asset-based, cash flow, structured finance and other financial solutions for mid-size and large companies. From over 30 offices throughout the U.S. and Canada, GE Corporate Lending specializes in serving the unique needs of borrowers seeking $20 million to $2 billion and more for working capital, growth, acquisitions, project finance and turnarounds. In addition, Access GE provides clients with access to GE management best practices to improve business performance. Visit www.gelending.com/clnews to learn more.

About GE Commercial Finance

GE Commercial Finance, which offers businesses around the globe an array of financial products and services, has assets of over $300 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. GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit www.ge.com.

Business Services Industry

GE Corporate Lending Provides $275 Million Credit Facility to Support Acquisition of SP Newsprint

Business Wire, May 12, 2008

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