GE Capital arranges $285 million of credit for Harley

Harley Marine Services has a fleet of more than 100 vessels Harley Marine Services has a fleet of more than 100 vessels

JANUARY 7, 2014 — GE Capital, Corporate Finance reports that it is serving as administrative agent on $285 million of senior secured revolving and term credit facilities to Harley Marine Services, Inc. The credit facilities will recapitalize the company and provide additional funds for growth initiatives. GE Capital Markets served as sole bookrunner and sole lead arranger on the transactions.

Harley Marine is a leading marine petroleum transportation company with operations on the west coast, the Gulf coast, and New York, operating over 100 tugs and barges.

"GE Capital has been a valued financing partner of ours for almost 25 years," said Harley Franco, CEO, Harley Marine. "They really understand how to help our business grow, and we especially value their structuring expertise and capital markets capabilities."

"We are pleased to support the next stage of growth at Harley Marine," said Bob McCarrick, chief commercial officer—lending, at GE Capital, Corporate Finance. "We specialize in providing capital to help build middle-market companies."