Today’s News

Last Updated: Friday, September 19, 2014, 2:03 pm

BofA Agents PharMerica Credit Agreement

PharMerica announced it closed on a new credit agreement. The company will use the facilities for general corporate purposes and to pursue acquisition opportunities. Bank of America acted as administration agent.

LiftForward Hires Former CIT President as Chief Risk Officer

LiftForward hired Christine Reilly as chief risk officer. Reilly has more than 30 years of experience in the financial services industry, including nearly six years as president of CIT Group’s Small Business Lending.

BlackArch Advises Audax Group on Tri-Ed Sale

BlackArch Partners announced the sale of Tri-Northern Acquisition Holdings, a portfolio company of Audax Group, to Anixter International for a purchase price of $420 million.

Wells Fargo Surpasses $1B in Healthcare Commitments

Wells Fargo Capital Finance announced that its Healthcare Finance portfolio surpassed $1 billion, with a recent $100 million credit facility for Apria Healthcare Group.

Ares Selling $2.4B of Crisis-Era Debt as Peak Seen

Bloomberg reported that as the credit crisis worsened in 2008, Merrill Lynch sold $2.4 billion of debt backing takeovers of companies to Ares Management at a discount. The bet has reaped annualized gains of 19.25%.

JPMorgan, Wells Lead Assurant Revolver

Bloomberg reported Assurant entered a five-year $400 million revolving credit agreement with banks led by JPMorgan Chase and Wells Fargo.

BofA, RBC, SunTrust Commit Financing for Providence Buy

Paul Hastings announced the firm represented The Providence Service in an agreement to acquire CCHN Group Holdings. Providence received financing commitments from Bank of America, RBC and SunTrust.

BMO Harris Agents Spartan Foods of America Credit Facilities

BMO Harris Bank’s Sponsor Finance group announced it was sole lead arranger and is administrative agent for senior credit facilities to Spartan Foods of America, a Linsalata Capital Partners portfolio company.

BofA, Others Support Eagle Bulk Restructuring Plan

The WSJ said Eagle Bulk shipping received court approval for its bankruptcy exit plan. The Journal said the lender group, consisting of Bank of America and Oaktree Capital, gave unanimous support.

Signature Bank Named Best Business Bank

Signature Bank was named Best Business Bank by the New York Law Journal in the publication’s fifth annual reader survey.