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News

GE's media & communications provides credit facility for China-based Xinhua finance limited

AZDEL : 02 September, 2007  (Company News)
GE Commercial Finance, Global Media & Communications today announced that it has committed $20 million to Xinhua Finance Limited as part of a broader $70 million facility to be used by the company for acquisitions and debt refinancing. XFL is a leading provider of China's indices, ratings, financial news, investor relation services, financial information and media services.
GE Commercial Finance, Global Media & Communications today announced that it has committed $20 million to Xinhua Finance Limited as part of a broader $70 million facility to be used by the company for acquisitions and debt refinancing. XFL is a leading provider of China's indices, ratings, financial news, investor relation services, financial information and media services.

'With our global team of sector specialists, we bring more to media transactions than just capital,' said Bhupesh Gupta, managing director, GE, Global Media & Communications, Asia-Pacific. 'GE was able to leverage resources both locally and in the United States to provide a tailor-made financing solution to fund XFL's acquisitions and growth. This financing also is a significant milestone for our Asia-Pacific team as it demonstrates our commitment to become the financier of choice for media, entertainment and telecom players in the Asia-Pacific region.'

XFL is listed on the Tokyo Stock Exchange and has a market capitalization of around $440 million. In the past three years, the company has acquired several research, information and investor relations companies and seeks to continue to boost its resources and infrastructure.

'We are pleased that GE shares our passion and ambition for China and its future,' said Gordon Lau, CFO of XFL. 'We were impressed with their level of due diligence and ability to tap resources from elsewhere in the region to close this deal.'
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