Greeley, Colo.-United Agri Products Inc. recently restructured its debt using GE Commercial Finance Global Sponsor Finance, Norwalk, Conn., as the administrative agent for $850 million of senior secured credit facilities. GE Capital Markets and GS Credit Partners served as joint lead arrangers and joint bookrunners. The financing consists of a $675 million 5-year ABL revolving credit facility and a $175 million 6-year term loan. “Given our operational momentum in recent years, we expect this successful restructuring will allow us to continue with our current strategy,” said David Bullock, UAP CFO. “GE was able to provide a creative over advance structure and eliminate high cost capital under the facility,” said Tony McCord, GE Commercial managing director.
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