Today’s News

Last Updated: Thursday, July 2, 2015, 4:36 pm

Prospect Provides Commitment to Support Webster Capital Acquisition

Prospect Capital said it provided a commitment to support the acquisition of Bay Area Addition Research and Treatment by an investment fund affiliated with Webster Capital Management.

Concord Financial Facilitates Debt Financing for TRG

Concord Financial Advisors said it successfully completed a search for debt financing and closed a $15 million credit facility for Tap Room Gaming. The funds were used by TRG to complete the acquisition of a strategic competitor.

TD Bank Promotes Iannuccilli to VP/BDO ABL Mid-Atlantic

TD Bank said it has promoted Joseph A. Iannuccilli to vice president, business development officer in Asset-Based Lending. He will be responsible for ABL relationships across the Mid-Atlantic region.

Prospect Capital Provides $22.4MM to GES to Support Acquisition

Prospect Capital provided Global Employment Solutions, an existing portfolio company of Prospect, with an incremental $22.5 million of senior secured floating rate debt to support the acquisition of Information Technology Engineering.

Justice Department Blocks GE, Electrolux Deal

The Justice Department filed an antitrust lawsuit to stop Electrolux from buying GE’s appliance business. Official says “proposed acquisition would leave millions of Americans vulnerable to price increases.”

J.P. Morgan Leads TriMas $775MM Refinancing

TriMas said it closed an amendment to its existing credit facilities, comprised of a $500 million revolver and a $275 term loan, in conjunction with the recent spin-off of its Cequent businesses. J.P. Morgan was said to have led the refinancing process.

ABN AMRO, Others Arrange $413MM Refi Facility for Halcyon

Halcyon Agri said it completed a refinancing of up to $413 million with mandated lead arrangers ABN AMRO, Credit Suisse and DBS.

PNC Canada Provides $30MM to Canadian Manufacturer

PNC Bank Canada said it closed a C$30MM ABL revolver for Gracious Living, a manufacturer and retail supplier of injection-molded resin products, including outdoor furniture and housewares.

Crestmark Closes 11 Transactions Worth Over $22MM in H2/June

In the second half of June, Crestmark completed a total of 11 transactions worth $22.1 million, marking a significant increase over the first half of the month.

Sterling Bancorp and Hudson Valley Complete Merger

Sterling Bancorp has completed its previously announced merger with Hudson Valley Holding, forming an institution with $11.2 billion in assets.