Today’s News

Last Updated: Tuesday, July 28, 2015, 9:48 am

Siena Provides $8MM Financing to Southern Parallel

Siena Lending Group completed an $8 million revolving and term loan facility to Southern Parallel Forest Products for the purchase of a sawmill and planer mill and for working capital.

CIT Q2 EPS Meets Expectations, NA Commercial Finance Volume $1.6B

CIT Group reported Q2/15 net income of $115 million or $0.66 per diluted share which met the EPS consensus estimates by Thomson Reuters. CIT noted new lending and leasing volume of $1.6 billion in its NA Commercial Finance segment.

LBC Agents $97MM to Support Escort, Cobra Combination

LBC Credit said it served as agent and sole lead arranger for $97 million of senior secured credit facilities to support the combination of Monomoy Capital Partners’ portfolio companies, Escort and Cobra Electronics under new parent Cedar Electronics Holdings.

Citi, Wells Fargo Arrange Debt to Support Beacon Roofing Buy

Beacon Roofing Supply announced it will acquire Roofing Supply Group in a transaction valued at $1.1 billion. Citi and Wells Fargo were said to acting as joint lead arrangers on the debt financing.

BNP Paribas Agrees to $165MM Loan Facility With Diana Shipping

BNP Paribas has agreed to a five-year term loan facility for up to $165 million with Diana Shipping to pay off the Royal Bank of Scotland.

HSBC, Others Renew Oryx Credit Facility

Oryx Stainless Group, a subsidiary of Germany-based KMR Stainless Holding, successfully finalized a €100 million ($100.32 million) syndicated revolving credit facility.

National Retail Federation Revises Annual Economic Forecast

The National Retail Federation lowered its retail sales forecast for 2015 because of unexpected slow growth recorded during the first half of the year.

Pyrenees Engaged to Place $10MM for Dominovas Energy

Dominovas energy said it engaged Pyrenees Investments to prepare a private placement of shares of common stock and warrants to produce proceeds of up to $10 million to fund working capital.

Buchanan Adds Lawler to Financial Services Practice in Phila

Buchanan Ingersoll & Rooney announced the addition of shareholder James S. Lawlor to its Philadelphia office in the Financial Services practice group.

Rabobank Provides Construction Facility to Canadian Solar

Canadian Solar said it has signed a $28.35 million construction loan facility from Robobank to finance the construction of a portfolio of solar power plants in Japan.