GE Capital (GE) Co-Agent Winn-Dixie (WINN) $600 Million Asset-Based Credit Facility

GE Capital (NYSE:GE), Corporate Retail Finance announced announced in a press release "it is co-collateral agent on a $600 million asset-based revolving credit facility for Winn-Dixie Stores, Inc. (NASDAQ:WINN), a leading food retailer. The loan refinances an existing credit facility and will be used for working capital and general corporate purposes. GE Capital Markets served as joint lead arranger."

Winn-Dixie is one of the nation's largest food retailers. The company operates 484 retail grocery locations, including 379 in-store pharmacies, in Florida, Alabama, Louisiana, Georgia and Mississippi.

"GE Capital knows our business and they really understand the challenges and opportunities inherent in retail," said Bennett Nussbaum, Senior Vice President and Chief Financial Officer of Winn-Dixie in a press release. "We value GE’s significant financial commitment and our ongoing business relationship.”

“This financing builds on our five-year relationship with Winn-Dixie,” said Jim Hogan, senior managing director of GE Capital, Corporate Retail Finance. “Providing retailers with capital to accelerate their business plans is one of our specialties.”

General Electric was trading at $19.62, falling $0.10, or 0.51 percent, as of 1:17 PM EDT. Winn-Dixie was at $6.88, down $0.08, or 1.15 percent.