GE Capital administrative agent on Golf Town/Golfsmith credit facility
Norwalk, Conn. -- GE Capital said Friday that it is serving as administrative agent on a $150 million senior secured credit facility to support the combination of Golf Town and Golfsmith, owned by parent company Golfsmith International.
GE said the credit facility will be used to support working capital and to refinance existing debt.
"GE Capital structured the financing that will enable us to make … our ongoing operations a success," said Sue Gove, president and COO of Golfsmith International.
“The industry continues to be selective with mergers and acquisitions, but smart retailers are finding there are good opportunities available to accelerate growth,” said Jim Hogan, senior managing director of GE Capital, Corporate Retail Finance. “Bringing together our retail finance expertise with the sponsor finance experts at GE Antares meant we were able to quickly understand the needs on all sides of this transaction and structure financing accordingly.”