Today’s News

    JPMorgan Agents Global Brass and Copper $520MM Refi

    Global Brass and Copper Holdings retired its senior secured notes and entered into a new $200 million asset based revolving credit and a $320 million term loan credit facility. JPMorgan served as administrative agent for both facilities.

    Wells Fargo Launches Industrials Corporate Banking Group

    Wells Fargo Corporate Banking has launched an Industrials Group to offer capital solutions, financing expertise and traditional banking products to customers in this sector. Lisa McGeough, formerly head of Wells Fargo Securities for Europe, Middle East and Africa, will lead the team.

    Wells Fargo, SunTrust Arrange $200MM Upsize for The Ensign Group

    The Ensign Group increased its credit facility by $200 million to an aggregate of $450 million with a lending consortium arranged by SunTrust Robinson Humphrey and Wells Fargo Securities.

    Navatto Rejoins Marquette Commercial Finance in NYC

    Marquette Commercial Finance opened a New York City office and welcomed back industry veteran, W. Calvin Navatto, who rejoined the company as VP of Sales. Navatto was previously with NewStar Business Credit.

    Opus Bank Appoints Head of Financial Sponsors Group

    Raed Alfayoumi was appointed Opus Bank’s managing director, head of the Financial Sponsors group.

    Victory Park Provides Facility, Leads Equity Raise for West Creek

    Victory Park Capital provided a $25 million secured credit facility to West Creek Financial and also led an equity raise.

    GE: $168B Financial Asset Sales Closed Through July

    General Electric reported through July, $168 billion in financial asset sales were closed out of $183 billion that were signed. GE also noted its SIFI de-designation was effective June 28.

    Hartman Joins TD Bank as MD/ABL for Florida

    TD Bank named J. Eric Hartman as managing director, Originations in Asset Based Lending. Based in West Palm Beach, he will lead the delivery of TD Bank’s asset-based products and services across Florida.

    Antares, Ares, Varagon Provide Financing to Support Warburg Acquisition

    Private equity firm Warburg Pincus entered into agreement whereby one of its affiliates will invest in Hygiena. Antares Capital, Ares Management and Varagon Capital will provide debt financing to support the transaction.

    Bloomberg: Brexit Increasing Recession Risk

    Bloomberg reports that the British decision to leave the European Union is increasing the risk of economic recession in the UK.