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SEARCHGE will serve as administrative agent for $275 million revolving credit facility.
GE Commercial Finance Fleet Services announced the closing of a new $275 million five-year revolving credit facility for Hertz Corporation. GE Commercial Finance Fleet Services, which served as sole lead arranger and bookrunner for the facility and led its syndication, also will serve as administrative agent.
Proceeds of the financing, which closed Sept. 29, primarily will be used to acquire, finance and refinance vehicles for the company’s car rental business.
GE Commercial Finance Fleet Services says it sees the growth potential in the auto rental industry and believes it is uniquely equipped to help companies like Hertz capitalize on this potential.
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