New York -- GE Capital, Corporate Finance announced it is administrative agent for a $70 million asset-based credit facility for Le Château, a leading Canadian specialty retailer and apparel manufacturer. The loan will be used to refinance existing debt and support working capital needs.
Headquartered in Montreal, Le Château specializes in the design, development and production of contemporary fashion apparel, accessories and footwear. It has 239 stores in Canada as well ten stores under license in the Middle East. Through its vertically integrated operations, Le Château produces approximately 35% of its garments in its own production facilities in Canada.
“GE Capital understands that flexible structuring leads to effective capital solutions,” said Emilia Di Raddo, president and secretary of Le Château. “Their retail industry expertise and knowledge of our local markets are real differentiators.”