Bahakel Gets $70M from GE

Bahakel Communications has received a $70 million financing facility from GE Commercial Finance Global Media & Communications.

The financing for Bahakel -- a privately held multimedia company engaged in television-broadcast, radio-broadcast and cable operations -- takes the form of a $7 million revolver and a $63 million term loan, and it replaces an existing facility provided by GE in 2003.

“We appreciate GE's depth of insight into our diverse business lines,” Bahakel executive vice president Beverly Poston-Bahakel said in a prepared statement. “They have been a valued partner in helping to meet the company's financing needs throughout our growth cycles.”