Kumho opens $151 million credit facility in US

ERJ staff report (TB)

Norwalk, Connecticut -- Kumho Tire U.S.A. Inc. has opened a $151 million asset-based credit facility for working capital needs, according to GE Capital, Corporate Finance, the administrative agent for the facility.

Norwalk-based GE Capital Markets served as co-lead arranger. Rancho Cucamonga, California-based Kumho Tire U.S.A. is a subsidiary of South Korean tyre maker Kumho Tire Co. Inc.

“GE Capital has served Kumho since 2006, and they are extremely knowledgeable about our business and the automotive marketplace at large,” said J. B. Kim, president and CEO of Kumho Tire USA, in a statement released by GE Capital.

“We specialise in working with clients to understand the challenges and opportunities in key sectors such as automotive,” added Tom Quindlen, president and CEO, GE Capital, Corporate Finance. “This knowledge helps us provide clients with smarter liquidity to support their business plans.”

GE Capital, Corporate Finance is a provider of asset-based, cash-flow and structured loans and leases for mid-size and large U.S. businesses for working capital, growth, acquisitions, turnarounds and balance sheet optimization.

From Tire Business (A Crain publication)