GE Capital, Corporate Retail Finance, an operating unit of
General Electric Company
), recently served as the administrative agent and the sole
lender for a senior secured credit facility worth $300 million
for Samuels Jewelers. The debt financing will be utilized by
Samuels Jewelers for its working capital requirements to fuel
further growth and refinance its existing debt.
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Headquartered in Austin, TX, Samuels Jewelers has over 120 years
of experience in offering contemporary and uniquely-styled fine
jewelry items through its retail stores that are spread across
the country as well as through online platform. The company
focuses on quality shopping experience for customers and strives
to provide the best value in terms of merchandise quality, price,
and service through skilled associates.
Samuels Jewelers will primarily use the credit facility to
increase its liquidity and refinance the debt to reduce interest
burden. Moving forward, Samuels Jewelers further expects to
benefit from the industry insight of General Electric to
consolidate its business.
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
Its segments include Power & Water, Oil & Gas, Energy
Management, Aviation, Healthcare, Transportation, Home &
Business Solutions, and GE Capital. GE Capital, Corporate Retail
Finance provides senior secured loans to support the working
capital requirements of retailers.
General Electric currently has a Zacks Rank #3 (Hold). Other
players in the industry worth mentioning include
LSB Industries Inc.
), each carrying a Zacks Rank #2 (Buy).