Ge capital is agent on $150 million asset-based credit facility to tourneau

Norwalk, conn.--(business wire)--ge capital today announced it is administrative agent for a $150 million asset-based credit facility for tourneau, the world’s largest retailer of fine watches. the financing will be used for working capital purposes. ge capital markets served as sole lead arranger of the facility. founded in 1900, tourneau is headquartered in new york city with 40 stores across the us, including flagship locations in new york city and las vegas. the company provides customers with a unique experience when either acquiring or servicing fine timepieces. they offer hundreds of styles and more than 70 world-renowned watch brands both in-store and online including rolex, cartier, patek philippe, breitling, iwc, and vacheron constantin. “ge has been providing us with financing to support operations and growth for many years,” said james seuss, ceo of tourneau. “we value the unique financing, retail expertise, and other resources that ge brings to meet our evolving needs, such as expanding our retail presence.” “tourneau has been a valued account for many years. in addition to our retail expertise and financing support, tourneau benefits from our access ge program, which provides ge management tools and ideas that help them grow their business,” said jim hogan, managing director of ge capital, corporate retail finance. about ge capital ge capital offers consumers and businesses around the globe an array of financial products and services. for more information, visit gecapital.com or follow company news via twitter (@gecapital). ge (nyse: ge) is a diversified infrastructure, finance and media company taking on the world’s toughest challenges. ge operates in more than 100 countries and employs about 300,000 people worldwide. for more information, visit ge.com.
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