GE Commercial Finance Corporate Lending today announced it has provided a $550 million asset-based credit facility to Finlay Enterprises, Inc. (NASDAQ: FNLY), a fine jewelry retailer. The loan replaces a previous facility with GE and will be used to support Finlay’s acquisition of Bailey Banks & Biddle, a division of Zale Corporation. GE Capital Markets served as sole bookrunner on the transaction.

Founded in 1887, Finlay is a leading retailer of fine jewelry operating stand-alone jewelry stores and jewelry departments in department stores throughout the United States. Founded in 1832, Bailey Banks & Biddle operates 70 stand-alone fine jewelry retail stores throughout the United States offering jewelry and watches under high-end brand names.

“GE used their knowledge of the retail industry and our business to tailor financing providing us with maximum liquidity to help support our business strategy of growth through acquisition,” said Arthur E. Reiner, chairman and CEO of Finlay Enterprises, Inc. “The financing allowed us to complete a transaction nearly tripling the number of stand-alone jewelry stores we operate and significantly expanding our presence in the luxury market.”

“Industry consolidation has only recently begun in the highly competitive and extremely fragmented jewelry market,” said Jim Hogan, managing director of GE Corporate Lending's Retail group. “Whether for acquisition, working capital or restructuring, we work closely with clients to understand their evolving borrowing needs and structure financing to match.”

Industry Specialization

To better meet the unique financing needs of customers, GE Corporate Lending has a team of Industry Leaders supported by dedicated research analysts. These industry experts work closely with GE Corporate Lending’s regional teams to build smarter financing solutions for companies across key industries: Aerospace & Defense; Automotive & Automotive Parts; Chemicals & Plastics; Construction; Food, Beverage & Agribusiness; Financial & Business Services; Forest Products; General Manufacturing; Metals and Mining; Retail; Technology & Electronics; and Transportation.

About GE Corporate Lending

With $14 billion in assets, GE Commercial Finance Corporate Lending is one of North America’s largest providers of asset-based, cash flow, structured finance and other financial solutions for mid-size and large companies. From over 30 offices throughout the U.S. and Canada, GE Corporate Lending specializes in serving the unique needs of borrowers seeking $20 million to $2 billion and more for working capital, growth, acquisitions, project finance and turnarounds. Visit www.gelending.com/clnews for more information.

About GE Commercial Finance

GE Commercial Finance, which offers businesses around the globe an array of financial products and services, has assets of over $250 billion and is headquartered in Norwalk, Connecticut. GE (NYSE: GE) is Imagination at Work – a diversified technology, media and financial services company focused on solving some of the world’s toughest problems. GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit www.ge.com.