Today’s News

Last Updated: Friday, August 29, 2014, 8:06 am

GE Capital Arranges Papa Murphy’s New Facility

Papa Murphy’s said it closed on a new $132 million facility that resulted in a 200 bps reduction in borrowing costs. GE Capital Markets was said to be the sole lead arranger for the refinancing.

Wells Fargo-Led Bank Group Upsizes Atlas Facility

Atlas Pipeline Partners announced it amended its revolving credit facility with a new five-year, $800 million revolver. Wells Fargo was said to have acted as sole lead arranger and continues to serve as administrative agent.

Barclays Provides $275MM to Support Detroit Bankruptcy Exit

Bloomberg reported that Detroit won a commitment from Barclays for $275 million in financing to fund the city’s exit from bankruptcy.

GE Capital, Corporate Provides Sotheby’s $850MM in Facilities

GE Capital, Corporate Finance announced it is providing Sotheby’s with $850 million in facilities.

IFA Forms Alliance with IFG

The International Factoring Association and International Factors Group reached a cooperative agreement.

GE Antares Agents N&B’s Home Décor Companies Buy

GE Antares announced it served as administrative agent on a $315 million facility to support the acquisition of The Home Décor Companies by Nielsen & Bainbridge.

U.S. Economy Expands 4.2%

Bloomberg reported the GDP rose at a 4.2% annualized rate, up from an initial estimate of 4% and following a first-quarter contraction.

BizCap Facilitates Building Contractor Term Loan, Revolver

Business Capital structured and secured a $3 million combination term loan and revolving line of credit for a modular building contractor.

Scotiabank, RBC Finance BBIP’s Utility Buy

BBIP announced the purchase of 100% of Upper Peninsula Power’s stock from Integrys Energy. Scotiabank and RBC Capital Markets are providing structuring/placement advice and financing for the transaction.

DS-Concept Provides Export A/R to Auto Parts Manufacturer

DS-Concept Factoring announced it provided a $3 million export A/R facility to an automobile parts manufacturer in India.