Norwalk-based GE Capital, Corporate Retail Finance announced today that it is a co-lender in a $500 million credit facility to Saks, Inc., the New York-based department store retailer.
The asset-based credit facility will be used for working capital needs and general corporate purposes, GE Capital said.
Saks, which is based in New York, offers luxury goods including apparel, shoes, accessories and jewelry through its 53 store locations and online at saks.com.
GE Capital Markets served as joint lead arranger in the deal.
