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Bain Capital closes acquisition of GE Capital's commercial lending, leasing assets in Australia, New Zealand

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Bain Capital closes acquisition of GE Capital's commercial lending, leasing assets in Australia, New Zealand

GeneralElectric Co. announced that Bain Capital Credit has completed its of 'scommercial lending and leasing portfolios in Australia and New Zealand.

The transaction includes about $1.2 billion in ending netinvestment, according to a May 3 news release.

Terms of the deal were not disclosed.

The deal will contribute about $100 million of capital tothe overall target of about $35 billion of dividends expected to be paid to GEunder the disposition plan, subject to regulatory approval.

Deutsche Bank advised and partially financed Bain Capital Crediton the transaction.

Following announced plans to sell most of its assets, GE Capital has signedagreements for about $166 billion of the $200 billion in ending net investmentthat it intends to sell. The total closed transactions are now about $150billion in ending net investment.