BGP - Sector: Services---Industry: Retail (Specialty)

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GE Capital is Co-Lender in a $700 Million Credit Facility to...

NORWALK, Conn., Apr 09, 2010 (BUSINESS WIRE) -- GE Capital, Corporate Retail Finance today announced it was co-collateral agent on a $700 million asset-based credit facility for Borders Group, Inc. (BGP, Trade ), a specialty retailer of books and other educational and entertainment items. The loan will be used to support working capital needs. GE Capital Markets served as co-lead arranger.

Borders Group is headquartered in Ann Arbor, MI, and employs approximately 19,500 throughout the U.S., primarily in its Borders(R) and Waldenbooks(R) stores.

"As a long-term GE customer, we appreciate their knowledge of our business and ongoing support," said Mark Bierley, CFO for Borders Group. "Throughout the years, GE's retail expertise and willingness to share institutional best practices has been valuable to our organization."

"In-depth retail knowledge and underwriting expertise allows us to make significant financial commitments," said Jim Hogan, managing director of GE Capital, Corporate Retail Finance. "Aside from providing capital, we also go beyond financing by sharing GE tools and insight to add additional value for customers."

About GE Capital, Corporate Retail Finance

GE Capital, Corporate Retail Finance is a leading provider of senior secured loans to retailers, primarily in the U.S., to support working capital, growth, acquisitions and more. With Access GE, clients also benefit from access to GE management best practices. Visit gelending.com/clnews.

About GE Capital

GE Capital offers consumers and businesses around the globe an array of financial products and services. For more information, visit gecapital.com or follow company news via Twitter (@GECapital). GE (GE, Trade ) is a diversified infrastructure, finance and media company taking on the world's toughest challenges. From aircraft engines and power generation to financial services, health care solutions, and television programming, GE operates in more than 100 countries and employs about 300,000 people worldwide. For more information, visit www.ge.com .

SOURCE: GE Capital


GE Capital, Corporate Retail Finance
Jeff Wilson, 203-749-6340
[email protected]
or
GE Capital, Norwalk
Ned Reynolds, 203-229-5717
[email protected]

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April 9, 2010, 10:37 AM ET.Borders Jumps 7% as GE Gets Behind $700M Loan

Shares of Borders Group (BGP) are up 19 cents, or 7.4%, at $2.91 this morning after the company announced General Electric's (GE) GE Capital will be co-collateral agent for a $700 million asset-backed facility for the company.

The news is an update on Borders's March 31 announcement it replaced a $700 million revolving line of credit coming due next year with a senior secured asset-based credit facility not due until 2014. GE was mentioned at the time as a joint arranger and book runner, along with Bank of America (BAC) and Wells Fargo (WFC).

Presumably, the role of GE as co-collateral agent gives that much more soundness to the package.


52wk Range: 0.85 - 4.48
Volume: 9,672,632
Avg Vol (3m): 3,593,930

Technicals
Percentage Gainer

Last Price Quote is:
28.38%above 13-day MA
59.08%above 50-day MA
RS Rating: 98 

Fundamentals
Earnings Expected on May 25

Key Data:
Market Cap (M): $151.92 
P/E Ratio: 20.18 
PEG Ratio: 79.5 
Next Earnings: 05/25/2010
Last Analyst Rating: Neutral

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Let's see what takes place here.
Look to be a Cup with Handel

Below the 1 year chart.......

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shaping up...

[setravis]

Let's see what takes place here.
Look to be a Cup with Handel

Below the 1 year chart.......

that chart pattern fell apart !!!


BGP  Borders Launches 'Customer Commitment' Program... 

ANN ARBOR, Mich., Nov. 1, 2010 /PRNewswire via COMTEX/ -- Borders Group today launched the "Borders Customer Commitment" program, a new customer satisfaction initiative. The Customer Commitment -- the first of its kind for a national bookseller -- includes the "Low Price Promise," a new in-store program promising to match a local competitor's advertised, in-store price on items that Borders has in-stock. The Commitment also includes the popular "In-Stock Promise," which assures consumers if they don't find an item in stock at a Borders store, and it's among the more than one million titles available on Borders.com, Borders will find it and pay the shipping costs to the customer's home. With each of these promises, customers can enjoy a one-stop shopping experience at their local Borders store.



Borders continues to focus on creating an exceptional in-store customer experience driven by consumer research into what consumers want from a bookseller. Not surprisingly, value, price and convenience continue to be top of mind for consumers. Borders translated the research into action and made changes such as eliminating the need for printed coupons and offering consumers the new Borders Rewards Plus program. The new programs have surpassed expectations and led to the customer service index being rated at more than 90 percent with both availability and knowledge of associates being above a 95 percent rating. The Customer Commitment promises to push these customer ratings even higher.

"We're thrilled to offer our customers the new Customer Commitment program this holiday season," said Mike Edwards, CEO of Borders, Inc. "We're the first and only major bookseller to introduce a program like this that truly puts all consumers' needs first. In a competitive environment, the differentiators for consumers are value offerings combined with an exceptional in-store experience. Our customers have no reason to shop anywhere else."

Consumers can take advantage of Borders' Low Price Promise by bringing in a current printed advertisement by a local brick and mortar competitor and Borders will match the advertised price on in-stock items. Consumers can also display a local competitor's lower advertised price on an in-store item via their mobile phone. The retailer will also price match items previously purchased from Borders within the company's standard 30-day return and exchange window.

Borders' Low Price Promise and Borders' In-Stock Promise may not be combined and are subject to other restrictions and limitations. The Low Price Promise is not applicable to Internet pricing. See www.borders.com/online/store/MediaView_bcc for complete details on the Customer Commitment.

About Borders Group, Inc.

Headquartered in Ann Arbor, Mich., through its subsidiaries, Borders Group, Inc. (BGP, Trade ) is a leading specialty retailer of books as well as other educational and entertainment items. The company employs approximately 19,500 throughout the U.S., primarily in its Borders(R) and Waldenbooks(R) stores. Online shopping is offered through borders.com. Find author interviews and vibrant discussions of the products we and our customers are passionate about online at facebook.com/borders, twitter.com/borders and youtube.com/bordersmedia. For more information about the company, visit borders.com/media.

SafeHarbor Statement

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. One can identify these forward-looking statements by the use of words such as "expected," "planning," "possibility," "opportunity," "goal," "will," "may," "intend," "anticipates," "working toward" and other words of similar meaning. One can also identify them by the fact that they do not relate strictly to historical or current facts. These statements are likely to address matters such as the company's future financial condition and performance (including earnings per share, profitability, liquidity, cash flows, debt levels, market share growth and other sales information, inventory levels and capital expenditures), its cost reduction initiatives and plans for store closings, and the expansion of product categories, including eBook content and eReaders. These statements are subject to risks and uncertainties that could cause actual results and plans to differ materially from those included in the company's forward-looking statements.

These risks and uncertainties include, but are not limited to, consumer demand for the company's products, particularly during the holiday season, which is believed to be related to general economic and geopolitical conditions, competition and other factors; the availability of adequate capital--including vendor credit--to fund the company's operations and to carry out its strategic plans; adverse litigation results or other claims, the performance of the company's information technology systems, the anticipated impact of our Borders Rewards and Borders Rewards Plus programs; and, with respect to eBook content and eReaders, the availability to the company of anticipated content levels and a variety of competitive devices.

The company's periodic reports filed from time to time with the Securities and Exchange Commission contain more detailed discussions of these and other risk factors that could cause actual results and plans to differ materially from those included in the forward-looking statements, and those discussions are incorporated herein by reference. The company does not undertake any obligation to update forward-looking statements.

SOURCE Borders Group, Inc.