Samuels Jewelers has just received a $300 million senior secured credit facility from GE Capital, the lender announced.
The Austin, Texas-based chain will utilize the debt financing for its working capital requirements to fuel growth, to increase liquidity, and to refinance its existing debt to reduce interest, according to the statement.
Samuels Jewelers further expects to benefit from the industry insight of General Electric to consolidate its business, the statement said.
Samuels Jewelers did not respond to an inquiry from JCK at press time.
Samuels is owned by Gitanjali, the Indian company that has been hit by a propitious stock decline.