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GE Capital Renews and Extends Credit to Golfsmith

NORWALK, Conn. — GE Capital today announced it is providing a four-year extension of its $90 million asset-based revolving credit facility to Golfsmith (NASDAQ: GOLF), a specialty retailer. GE Capital has been a lender to Golfsmith since 2002.

“GE Capital’s retail industry expertise and its long relationship with us and with our principal owner, First Atlantic, were important factors in our decision to renew this facility with GE. We also value GE Capital’s willingness to hold the entire transaction.”

Headquartered in Austin, TX, Golfsmith is a 40-year-old specialty retailer of golf and tennis equipment, apparel and accessories. The company operates as an integrated multi-channel retailer through 76 stores across the United States, through golfsmith.com and through catalog distribution.

“With this new credit facility, we have a capital structure in place to fully support our growth strategy,” said Sue Gove, chief operating officer for Golfsmith. “GE Capital’s retail industry expertise and its long relationship with us and with our principal owner, First Atlantic, were important factors in our decision to renew this facility with GE. We also value GE Capital’s willingness to hold the entire transaction.”

“We’re pleased to be able to build on our eight-year relationship with Golfsmith as they continue on their growth path,” said Jim Hogan, senior managing director for GE Capital, Corporate Retail Finance. “Providing businesses with the capital they need to execute their business plan is our specialty.”

About GE Capital, Corporate Retail Finance

GE Capital, Corporate Retail Finance is a leading provider of senior secured loans to retailers, primarily in the U.S., to support working capital, growth, acquisitions and more. With Access GE, clients also benefit from access to GE’s best practices. Visit gelending.com/clnews.

GE Capital offers consumers and businesses around the globe an array of financial products and services. For more information, visit gecapital.com or follow company news via Twitter (@GECapital). GE (NYSE: GE) is Imagination at Work - a diversified technology, media and financial services company focused on solving some of the world’s toughest problems. Visit ge.com.

Posted on September 1, 2010
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