GE Commercial Finance this week loaned $250 million to Vertis Communications Inc., which has emerged from Chapter 11 bankruptcy.
The loan was used to refinance the company’s debtor-in-possession (DIP) financing upon the company’s emergence from a pre-packaged Chapter 11 bankruptcy. In July, GE Commercial Finance also provided the company with a $380 million DIP credit facility. GE Capital Markets arranged both transactions.
Last month, Vertis completed a merger with Tennessee printing firm American Color Graphics. The new combined company, headquartered in Baltimore and unified under the Vertis Communications brand, has 100 locations worldwide and nearly 8,000 employees. Vertis has $1.5 billion in annual revenue.
