GE Capital lends to Insteel for credit facility

GE Capital Corporate Finance has announced it is the sole lender for a $75m (£52m) asset-based credit facility to Insteel Industries, a manufacturer of steel wire reinforcing products.

The loan replaces an existing credit facility from GE and will be used to fund Insteel’s working capital, capital expenditure, general corporate and growth requirements.

Insteel Industries manufactures and markets pre-stressed concrete strand and welded wire reinforcement sold primarily to manufacturers of concrete products for non-residential construction applications.