GE Capital’s Telecom, Media and Technology (TMT) financing business today announced it completed 58 deals totaling $3.7 billion during 2012. The TMT business addresses the financial needs of customers in key growth sectors, including cable, data centers, towers, metro fiber, TV, digital media and software, among others.
“The increase in financings supports the continued M&A revival and growth of these specialized sectors,” said Pete Foley, senior managing director of GE Capital’s Telecom, Media and Technology team. “Last year was active for corporate financing as well as private equity-backed transactions. We look forward to supporting the growth of these industries as we begin 2013.”
“We are committed to providing more than financial capital to our customers. We help them build stronger businesses by leveraging the depth and breadth of GE’s experience, including industrial and technology expertise,” continued Foley. “In 2012, we connected customers to GE’s broader domain expertise, exploring new technologies and learning how the industrial and financial sectors can come together to help them solve their toughest challenges.”
Below is a brief description of several noteworthy 2012 transactions:JAB Wireless In the fourth quarter of 2012, GE Capital served as administrative agent on a new $140 million credit facility for JAB Wireless, a provider of fixed wireless high-speed internet and VoIP phone service to residential and business subscribers. GE Capital Markets served as lead arranger and administrative agent on the transaction. “Since 2010, GE Capital has provided financing solutions that have enabled our company to more than double our customer base and profitability,” said Jack Koo, COO and CFO of JAB Wireless. “GE Capital’s expertise in the telecom industry and the capital markets make it a valued financial resource. The most recent financing has positioned us to strengthen our industry leadership and to continue our growth well into the future.”
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