GE Commercial Finance Corporate Lending Provides Trade Accounts Receivable Securitization To Rexnord Funding

By PYC Bearings
©2004-2008

GE Commercial Finance Corporate Lending on Monday said it provided a $100 million trade accounts receivable securitization to Rexnord Funding LLC, a Milwaukee, Wisconsin-based supplier of power transmission and water management products. The financing will be used for working capital, general liquidity and to fund potential future acquisition activity.

Rexnord supplies power transmission products including gears, couplings, industrial bearings, flattop, aerospace bearings and seals. Its water management products, sold primarily under the Zurn and Wilkins brand names, include specification drainage, water control, PEX and commercial brass.

According to George Moore, CFO of Rexnord, ¡°GE's flexibility in structuring the financing provided us with the liquidity solution we were looking for. In addition, their ability to hold the entire facility resulted in a straightforward process without any delay in closing.¡±

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