GE Capital uncorks $300m financing

GE Capital provides cross border facility to global wine company Accolade to fund growth

GE Capital International has provided a $300 million cross border facility to Accolade Wines, upsizing a $220 million facility the alternative lender provided to the wine company in 2011. 

The cross border financing recapitalises Accolade’s balance sheet and funds the continued growth of the business, GE Capital said in a statement released on Tuesday. Australian private equity firm CHAMP is Accolade's majority owner. 

“Many of our customers’ businesses cover multiple geographies. Our global footprint and experience in cross-border transactions position us to provide global financing solutions that fit our customer needs,” said GE Capital International president and chief executive Richard Laxer in a statement. “We were able to support Accolade Wines and CHAMP Private Equity, Accolade’s majority owner with a financing facility to help them fund the continued global growth of their business.”

GE Capital has funded more than $800 million in cross-border deals in the last 12 months, including a $250 million ABL financing of global packaging firm Coveris in November, according to a statement. 

“A strong pipeline is in place for 2014 and beyond as appetite for this form of financing continues to grow,” the statement read.