GE Capital, Corporate Finance, Norwalk, Conn., said it is collateral agent for a $120 million asset-based credit facility to fresh and frozen seafoods processor Ocean Beauty Seafoods, LLC, Seattle.
Ocean Beauty Seafoods has company-owned processing, distribution and sales outlets throughout the continental United States, Alaska and Japan. The company is the nation's largest smoked salmon processor, officials said.
“GE Capital’s industry expertise in the seafood processing space and its ability to offer an anchor hold position added significant value,” said Tony Ross, CFO for Ocean Beauty Seafoods. “We also value GE’s quick turnaround on their commitment.”