GE Capital Corporate Finance lended an $85 million asset-backed term loan to U-Haul Inc. for the refinance of an existing securitization facility. Funding was provided through GE Capital Corporate Finance's bank affiliate, GE Capital Financial Inc.
"With the recent uncertainty in the credit markets, we value and are very appreciative of GE's responsiveness in developing an excellent financing solution that met all of our financing needs," said Gary Horton, U-Haul corporate treasurer.
Founded in 1945, Phoenix-based U-Haul rents trucks and trailers and offers self-storage units through a network of nearly 1,450 company-operated moving centers and approximately 14,500 independent U-Haul dealers.
GE Capital Corporate Finance is one of the largest providers of asset-based cash flow and structured loans and leases for mid-size and large U.S. businesses.
Source: MarketWatch, GE Capital Provides $85 Million to U-Haul