SOURCE: Great American Group

Great American Group

March 31, 2010 17:45 ET

GA Capital, LLC Announces Term Loan to Borders Group, Inc.

WOODLAND HILLS, CA--(Marketwire - March 31, 2010) -  Great American Group®*, Inc. (OTCBB: GAMR) today announced that its subsidiary GA Capital, LLC will serve as the administrative agent on a $90 million term loan facility to Borders Group (NYSE: BGP). The $90 million term loan facility is part of a larger re-financing effort by the company which includes a new, $700 million senior secured asset-based credit facility, which matures in March 2014.

"We are thrilled to support Borders Group through this new financing, and are looking forward to the partnership," said Daniel Platt, President & Portfolio Manager of GA Capital.

Mark Bierley, Chief Financial Officer of Borders Group, stated, "We are pleased to have the continued support of our lending group and term loan investors. With the completion of these transactions, the company can turn its focus to driving sales growth and improving profitability."

Andy Gumaer, Chief Executive Officer of Great American Group, Inc., added, "GA Capital is one of our growth initiatives, and the Borders Group transaction evidences our creative ability to assist companies with their financing needs."

GA Capital, LLC, based in Boston, MA, is a subsidiary of Great American Group, Inc. and is a provider of junior secured loans to retailers in need of growth capital, working capital, and turnaround financing. 

About Great American Group®
Great American Group, Inc. is a leading provider of asset disposition solutions and valuation and appraisal services to a wide range of retail, wholesale and industrial clients, as well as lenders, capital providers, private equity investors and professional service firms. Great American Group has offices in Atlanta, Boston, Chicago, Dallas, London, Los Angeles, New York and San Francisco.


*Great American Group and the Eagle Design are trademarks registered in the US Patent and Trademark Office and are exclusive property of Great American Group, Inc. 

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