Today’s News

Last Updated: Friday, October 24, 2014, 3:24 pm

Wells Fargo Agents Penn Virginia Borrowing Base Increase

Penn Virginia’s bank group approved an increase in the company’s credit facility to $500 million. The 12-bank syndicate was led by Wells Fargo Bank, which serves as administrative agent.

WFCF Arranges MDC $100MM Facility Increase

MDC Partners and its subsidiaries have entered into an increase and amendment of its revolving credit facility. The credit facility has been arranged by Wells Fargo Capital Finance.

GE Capital Finances $5.6MM Corner Bakery Café Concept

GE Capital Franchise Finance announced its first financing of a $5.6 million loan to MX Restaurants and Bakeries for its Corner Bakery Café concept.

Strategic Deals Expected to Keep M&A Market Active in 2015

Strategic deals are expected to keep 2014’s M&A market thriving into next year despite a recent dip in activity, according to financial advisors.

GavinSolmonese Hires Restructuring Veteran as Director

GavinSolmonese hired Kathryn McGlynn to join the firm’s growing corporate recovery practice.

BMO Leads Element Facility Expansion

Element Financial expanded the company’s existing senior credit facility to $1.6 billion with the addition of a further $100 million commitment from a U.S.-based bank. The facility is led by BMO.

BDO Consulting Expands Compliance Services

BDO Consulting announced the expansion of the global forensics practice with the addition of Julia Bailey as a managing director in the Washington, D.C. office.

SenecaOne Finance Promotes Don Patrick to CEO

SenecaOne Finance promoted Don Patrick to CEO. Prior to SenecaOne, Patrick served at Merkle, Infogroup Targeting Solutions, Alterian and JPMorgan.

White Oak Agents Cloud Services Provider Term Loan

White Oak Global Advisors served as administrative agent and sole lender on a $13 million senior secured term loan to a privately-held cloud storage provider.

Ultura Unit Files Chapter 11 to Sell Membrane Business

Ultura reportedly filed a Chapter 11 petition in Delaware to sell its membrane business to pre-bankruptcy lender UAC Finance in exchange for about $25 million of debt, absent a better bid at auction.