Today’s News

    JPMorgan Arranges JCPenney Refinancing

    JCPenney has completed the refinancing of its $2.25 billion term loan with a $1.69 billion term loan facility that has a lower interest rate and an extended maturity. JPMorgan Chase was lead arranger.

    U.S. Bank Downsizes Roadrunner Facility to $300MM

    Roadrunner Transportation Systems reduced its revolving line of credit from $400 million to $300 million. U.S. Bank served as administrative agent, swing line lender and LC issuer.

    Merrill Lynch to Pay $415MM for Misusing Customer Cash

    After an SEC investigation, Merrill Lynch agreed to pay $415 million and admit wrongdoing to settle charges it misused customer cash to generate profits for the firm and failed to safeguard customer securities from the claims of its creditors.

    Cerberus Provides Financing to Support Phoenix Color Acquisition

    Phoenix Color entered into an asset purchase agreement to acquire the Color Optics packaging business from AKI. Cerberus Business Finance provided financing to support the acquisition.

    SunTrust, Morgan Stanley, Others Arrange Dynegy $2B Term Loan

    Dynegy completed the pricing of a term loan totaling $2 billion arranged by SunTrust Robinson Humphrey, Morgan Stanley, Deutsche Bank, Goldman Sachs, Mitsubishi UFJ, RBC Capital Markets, BNP Paribas and Credit Agricole.

    Largest Banks Pass Stress Test, Add $700B in Capital Since 2009

    The results of the Federal Reserve’s most recent bank stress tests showed the nation’s largest banks continue to build capital levels and improve credit quality, strengthening their ability to lend during a severe recession.

    SunTrust Agents New $140MM Facility for Cross Country Healthcare

    Cross Country Healthcare has completed a new $140 million credit agreement with a lender group led by SunTrust Bank, as administrative agent and issuing bank. The credit agreement provides a $40 million term loan and a revolving credit facility of up to $100 million.

    PNC Agents New $1.6B Facilities for Wabtec

    Wabtec has signed a new bank agreement that includes a $1.2 billion revolving credit facility and a $400 million term loan. The 23-bank group was led by PNC as administrative agent.

    Golub Capital Provides Facility to Support Thoma Bravo Acquisition

    Golub Capital provided financing to support Thoma Bravo’s acquisition of Bomgar. Golub served as administrative agent, sole lead arranger and sole bookrunner.

    SSG Advises Restore Health Pharmacy on Asset Sales

    SSG Capital Advisors acted as investment banker to Restore Holdings on the sale of substantially all of the assets of bankrupt Restore Health Pharmacy, TCS Labs and Belvidere Labs.