Brunswick replaces accounts-receivable sales program

Posted on

Brunswick Corp. and GE Commercial Distribution Finance Corp. have entered into an asset-based loan facility, secured by the domestic accounts receivable of Mercury Marine, a division of Brunswick.

The asset-based loan facility replaces Brunswick’s existing accounts receivable sales program, pursuant to which Brunswick had sold the domestic Mercury Marine receivables to Brunswick Acceptance Co.

Brunswick Acceptance Co. is a joint venture between Brunswick Financial Services Corp. and CDF Ventures, a subsidiary of GE Capital Corp.

The asset-based loan facility totals $100 million and includes provisions to increase the size to $120 million. On May 29, the amount outstanding on the asset-based loan facility was $81 million.

Click here for the full release.

Welcome to TradeOnlyToday’s premium content! To continue reading, please register now, for access to 10 free stories per month. Or subscribe, for unlimited access to all TradeOnlyToday content!

Click here to Register ... it's free!

Basic subscription: Registered members get free access to 10 premium content stories each month!

Not a member yet? Click here to Register!

Already a member? Click here to Login!

Subscribe ... for unlimited access!

Individual subscription: $29 for unlimited site access for one year.

Small Business subscription: $140 for unlimited site access for up to 10 members of a company for one year.

Corporate subscription: $300 for unlimited site access for all members of a company for one year.

You may close this dialog after seconds.

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

Comments are moderated and generally will be posted if they are on-topic and not abusive. For more information, please see our Comments Policy.

Vote Today

What is the best outcome for the marine industry in the November mid-term elections?

View Results

Loading ... Loading ...

Search Boats for Sale

Length
Year
Price

Login to Trade Only Today

Lost Password