GE Commercial Finance Corporate Lending announced on Thursday, March 29, that it has provided a $130 million cash flow credit facility to JHT Holding, a truck transport services company. GE Capital Markets arranged and syndicated the transaction. GE also provided JHT with interest rate risk management products and services.
The loan increases the company’s liquidity and will be used for recapitalization purposes. Founded in 1933 and headquartered in Kenosha, Wis., JHT transports more than half of all heavy-duty and medium-duty trucks from manufacturers to dealerships across the United States.
“GE understands the opportunities and challenges of our industry and worked with us to structure financing that provides our business with increased liquidity at competitive terms,” says T. Michael Riggs, president of JHT Holding. “They add value beyond the loan, and also helped us better manage interest rate volatility.”
“The trucking industry as a result of new emissions standards is faced with higher-priced engines and increased operating costs,” says Gene Leary, transportation industry leader for Norwalk, Conn.-based GE Corporate Lending. “With approximately $5.2 billion invested in the trucking industry specifically, GE is familiar with the trends creating the ebbs and flows of the market.”