Today’s News

    Sherin to Retire from GE, Laxer Appointed as Replacement

    Keith Sherin will retire from his post as GE vice chairman and GE Capital chairman and CEO on December 31. He will be replaced by Richard A. Laxer, current GE Capital international president and CEO.

    Bank of America Agents Regional Management Revolver Upsize

    Regional Management amended its senior revolver credit facility with a lender group led by Bank of America as administrative agent. The facility was increased to $585 million from $538 million.

    BMO Harris Agents $27.5MM Facility for New True Temper

    BMO Harris Bank’s Asset-Based Lending group was administrative agent for $27.5 million in senior credit facilities provided for True Temper.

    JPMorgan Chase Amends OMNOVA’s ABL Revolver

    OMNOVA Solutions refinanced its term loan facility and ABL revolver with a new $350 million term loan and $90 million downsized revolver with a lender group led by Deutsche Bank AG as administrative agent and JPMorgan Chase as ABL lender, respectively.

    Breakaway Capital Provides $10.5MM Galaxy Gaming Term Loan

    Galaxy Gaming closed a new $10.5 million term loan with Breakaway Capital Management.

    Siena Lending Group Closes $4.5MM Facility for Amstek Metal

    Siena Lending Group completed a three-year $4.5 million asset-based revolving credit facility for Amstek Metal.

    RBS Supports Bokomo Foods’ Acquisition of Streamfoods

    The Royal Bank of Scotland provided UK-based breakfast cereal manufacturer Bokomo Foods with an asset-based lending facility to support its acquisition of Streamfoods.

    Day Pitney Partner Tancredi Appointed to U.S. Bankruptcy Court

    Day Pitney partner James J. Tancredi has been appointed a U.S. bankruptcy judge for the District of Connecticut. He fills a vacancy created by the retirement of Alan H.W. Shiff, who served for nearly 40 years.

    BDC Capiital Provides $4MM Facility for ProntoForms

    ProntoForms entered into a financing agreement with BDC Capital for a $4 million five-year secured term credit facility bearing interest at a fixed rate of 7% per year.

    AEG Expands Restructuring Practice, Hires Managing Director

    AEG Partners announced the expansion of its restructuring practice and CFO capabilities with the addition of David Riesmeyer as managing director.