Money for SP Newsprint buy from GE

GE Commercial Finance Corporate Lending provided a $276-million senior secured credit facility to private investors for the acquisition of SP Newsprint. The loan consisted of cash-flow and asset-based financing. GE Capital Markets arranged the acquisition.

Atlanta, GA-based SP Newsprint is privately held. The acquisition included the two newsprint mills and the wholly owned SP Recycling Corp.

Peter Brant is one of the private investors. He has extensive interests in other pulp and paper companies in the US and Canada.

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