GE Capital, Corporate Finance today announced it is lead agent on a $173
million U.S. and Canadian cash flow senior credit facility for subsidiaries of
Rand Logistics, Inc. RLOG, a leading provider of bulk freight
shipping services in the Great Lakes region. The loan will be used to
refinance current debt and provide growth capital. GE Capital Markets served
as lead arranger and bookrunner.
Through its subsidiaries, Rand Logistics operates a fleet of 16 dry-bulk
vessels, including 12 self-unloading bulk carriers and tug/barge units,
throughout the Great Lakes region. They are one of the only carriers able to
offer significant domestic port-to-port services in both Canada and the U.S.
on the Great Lakes.
“GE Capital understands our strategic goals and provides us with the flexible
financing necessary to foster our growth,” said Joe McHugh, chief financial
officer of Rand Logistics, Inc. “Their long-term commitment to providing
tailored financing solutions has been invaluable.”
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