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Soothing the pain points
01 March 2007
Jonathan Bell talks to Paul De Domenico, senior managing director at GE Commercial Finance, Working Capital Solutions, about the group's capabilities and successes in financing an ever-wider range of businesses.
When KME Group, one of the world's largest producers of copper and copper-alloy semi-finished products with over a3,550 million in annual sales secured an a800 million pan-European factoring facility in the third quarter of 2006 to support its operating entities; the trade finance market sat up – bolt upright.
Factoring is a tool most had heard of, KME is another very familiar name – but few can have expected such a large value deal financing to a such a large corporate. Financial arranger and provider GE Commercial Finance, through its French bank subsidiary, was catapulted into the limelight through this deal, although for a company that applies an industrial approach to its financial services range, the KME deal was part of its steady progression to capture a broader range of corporates and provide real solution financing.
GE Commercial Finance is one of GE's growth engines providing loans, operating leases, financing programmes,...
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