GE Capital said it is the lead agent on a
$173 million U.S. and Canadian cash flow senior credit facility for
subsidiaries of Rand Logistics, a provider
of bulk freight shipping services in the Great Lakes region.
The loan
will be used to refinance current debt and provide growth capital.
Through its subsidiaries, Rand operates a fleet of 16 dry-bulk
vessels, including 12 self-unloading bulk carriers and tug/barge units. Rand is one of the only carriers
able to offer significant domestic port-to-port services in both Canada
and the United States on the Great Lakes.
Rand secures loan for refinancing, growth
