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GE, Scotia Lead Western Inventory

25 Mar 2005

GE Capital and Bank of Nova Scotia have launched the bank meeting for $135 million of loans for Western Inventory Service.

GE Capital and Bank of Nova Scotia have launched the bank meeting for $135 million of loans for Western Inventory Service. The facility consists of a five-year, $15 million revolver; a six-year, $107 million "B" term loan; and a six-and-a-half-year, $31 million second-lien term loan. The revolver and "B" loan are priced at LIIBOR plus 3 1/4% and the second lien is priced at LIBOR plus 7%. The company provides inventory counts to retailers, manufacturers and wholesale distributors. The bank meeting was held March 16. Calls to Leonard Graham, cfo, were not returned.

25 Mar 2005