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General Electric Company’s (NYSE:GE) GE Capital Corporate Finance is the administrative agent for a $200 million asset-based credit facility for Furniture Brands International (NYSE:FBN), which is a leading supplier of home furnishings. GE Capital Markets was the joint lead arranger and bookrunner. The loan proceeds will be used for general corporate purposes and also to refinance existing debt. Furniture Brands is headquartered in St. Louis and is a world leader in designing, manufacturing and marketing home furnishings. The company’s brands include Broyhill, Thomasville, and Lane.
Hewlett-Packard Company’s (NYSE:HPQ) HP Enterprise Services has won a five-year contract from Rolls-Royce, a leading supplier of power systems and services. Through the terms, HP continues to play a critical part in the Rolls-Royce information tech ecosystem as it hosts the Rolls-Royce IT applications from award-winning next-generation HP data centers in the United States, the United Kingdom, and Singapore. Additionally, HP will manage the Rolls-Royce remote server and storage environments in France, Brazil, Germany, Canada, and Norway. Rolls-Royce expects to benefit from the highest levels of availability, security and flexibility through the standardization of HP’s infrastructure management tools and leveraging HP’s global delivery model.
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International Business Machines Corporation (NYSE:IBM) has reached a license agreement with Acacia Research’s Advanced Data Access LLC, which settles litigation brought by the latter that was pending in the Eastern District of Texas.
Johnson & Johnson (NYSE:JNJ): A major evaluation that has been released in the United Kingdom urges women and small men to reject an alternative hip replacement procedure called “resurfacing,” according to The New York Times. This procedure had “unacceptably” high failure rates in women along with higher failure rates in small men than with larger men. However, patients who received resurfacing hip replacements that failed have been barred by the FDA from suing device makers.
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