Raleigh, NC -- Telerent Leasing Corporation, a North Carolina-based, independent leasing company specializing in hospitality, healthcare, and renewable energy equipment leases, has closed a $100 million credit facility with BB&T Corporation. Telerent CEO George Fleming commented, "BB&T has been our primary financial partner since 1999, when they created a $20 million facility for us. This much larger facility supports our continued portfolio growth and new business initiatives."

Telerent was founded in the late 1950's by a number of Raleigh businessmen, and was acquired in 1989 by the Global 500 Company ITOCHU of Japan. The MONITOR, a financial services publication, named Telerent to its Top 100 Leasing Companies in the U.S. last year.

TeleHealth Services, Telerent's largest division is the nation's leading provider of healthcare grade televisions and interactive patient education systems to hospitals. Earlier this year, TeleHealth Services launched their latest platform of their interactive patient education system, TIGR V7 Duo.
This year Telerent also completed a merge of their equipment financing divisions to form TLC Capital. By combining the two divisions, TLC Capital is better situated to provide flexibility in their financing solutions while taking advantage of their expertise as a direct lending source to the healthcare and hospitality industries.

"Ten years ago, BB&T was one of several banks used by Telerent for cash management services," said Jeff Langel, CFO of Telerent. " Since 1999, BB&T has steadily supported Telerent's growth, and today BB&T serves as Telerent's primary banking partner, providing asset based lending, capital market products, corporate trust services, e-commerce capabilities, corporate and employee credit cards, investment management products, and of course, cash management services. Whenever Telerent needs a banking solution, we know we can turn to BB&T for an answer."

"Telerent Leasing Company is a leader in supporting the hospitality and healthcare sectors and we are delighted that they have extended their financing with us," said Steven Bullard, BB&T Triangle Regional Corporate Banking Manager. "This credit facility directly benefits the hospitals and hotels in their portfolio by increasing their capacity and improving their ability to serve their customers, many of which are facilities that are major businesses in their communities."

About BB&T:

BB&T is the 10th largest financial services holding company in the U.S. with $163.7 billion in assets and market capitalization of $22.4 billion as of March 31. Based in Winston-Salem, N.C., the company operates more than 1,800 financial centers in 12 states and Washington, D.C., and offers a full range of consumer and commercial banking, securities brokerage, asset management, mortgage and insurance products and services. A Fortune 500 company, BB&T is consistently recognized for outstanding client satisfaction by J.D. Power and Associates, the U.S. Small Business Administration, Greenwich Associates and others. More information about BB&T and its full line of products and services is available at www.BBT.com.

About Telerent Leasing Corporation:

Telerent Leasing Corporation provides business to business equipment financing solutions to hospitality, healthcare, and commercial industries across the United States. Telerent offers a variety of loan and lease structures, including operating leases for purchasing new or used equipment, leaving capital and credit lines available for other investments and operational expenses. With more than 50 years of lending experience and support in the medical and hospitality industries, Telerent Leasing Corporation delivers the best in customer satisfaction. Based in Raleigh, North Carolina, Telerent Leasing Corporation operates as a subsidiary of ITOCHU International, Inc.

Additional information regarding Telerent Leasing Corporation, its divisions and solutions can be obtained online at www.telerent.com.

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