Today’s News

Last Updated: Thursday, December 18, 2014, 8:32 am

Citizens Agents Buffalo Wild Wings Franchisee Amendment

Diversified Restaurant Holdings, operator of Bagger Dave’s and franchisee for Buffalo Wild Wings, amended its credit agreement with a lender group led by Citizens Bank as lead lender and administrative agent.

OnDeck Capital Rises after IPO

According to the DealBook, investors continue to see potential in alternative lending platforms such as OnDeck Capital.

Fifth Third Bancorp Leads Advocate Facility Increases

Advocate raised its credit line for law firm loans from $3.2 million to a $4 million, via a facility increase to $115 million. Fifth Third Bancorp is lead agent, with Wells and New York Community Bancorp participating as lenders.

TMA Chicago/Midwest Announces 2015 Officers

Aaron L. Hammer of Sugar Felsenthal Grais & Hammer, and Mike Egan, Monroe Capital were named president and president-elect of the Chicago/Midwest chapter of the TMA.

Partners Raises More Than $1B for Mezzanine Program

Partners Group raised more than $1 billion in new commitments for the firm’s successful junior debt investment strategy. Its eighth and largest mezzanine program will be invested globally.

CIT Leads Syndicate Facility for Construction Partners Refi

Construction Partners refinanced existing debt and consolidated its borrowings. ServisFirst and BBVA Compass provided revolvers, while a CIT-led syndicate structured an asset-based term loan and capex facility.

BofA Agents Celadon Facility Increase

Celadon Group increased its facility to $300 million and re-set the term on its revolver agented by Bank of America. Bank of America served as sole lead arranger, with Wells Fargo Bank and Citizens as lenders.

Leveraged Loan Policies Gain Traction

Lenders reportedly scaled back on underwriting large debt-laden buyouts for low-rated companies in Q4/14, signaling that warnings to regulated banks against highly leveraged transactions are gaining traction.

TD Bank Leads Syndicate to Increase Cervus Revolver

Cervus Equipment entered into an amended facility with a syndicate of underwriters led by TD Bank, and including CIBC and Wells Fargo.

CIT Provides Financing to Hillwood

CIT Real Estate Finance provided a loan to Hillwood Investment Properties to develop Trade Center 83, a 1.2 million-square-foot Class A warehouse distribution center on 95 acres in York County, PA.