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The Latest Asset-Based Finance Transactions
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ABL Industry Service Providers & Specialty Lenders
JCPenney has completed the refinancing of its $2.25 billion term loan with a $1.69 billion term loan facility that has a lower interest rate and an extended maturity. JPMorgan Chase was lead arranger.
Roadrunner Transportation Systems reduced its revolving line of credit from $400 million to $300 million. U.S. Bank served as administrative agent, swing line lender and LC issuer.
After an SEC investigation, Merrill Lynch agreed to pay $415 million and admit wrongdoing to settle charges it misused customer cash to generate profits for the firm and failed to safeguard customer securities from the claims of its creditors.
Phoenix Color entered into an asset purchase agreement to acquire the Color Optics packaging business from AKI. Cerberus Business Finance provided financing to support the acquisition.
Dynegy completed the pricing of a term loan totaling $2 billion arranged by SunTrust Robinson Humphrey, Morgan Stanley, Deutsche Bank, Goldman Sachs, Mitsubishi UFJ, RBC Capital Markets, BNP Paribas and Credit Agricole.
The results of the Federal Reserve’s most recent bank stress tests showed the nation’s largest banks continue to build capital levels and improve credit quality, strengthening their ability to lend during a severe recession.
Cross Country Healthcare has completed a new $140 million credit agreement with a lender group led by SunTrust Bank, as administrative agent and issuing bank. The credit agreement provides a $40 million term loan and a revolving credit facility of up to $100 million.
Wabtec has signed a new bank agreement that includes a $1.2 billion revolving credit facility and a $400 million term loan. The 23-bank group was led by PNC as administrative agent.
Golub Capital provided financing to support Thoma Bravo’s acquisition of Bomgar. Golub served as administrative agent, sole lead arranger and sole bookrunner.
SSG Capital Advisors acted as investment banker to Restore Holdings on the sale of substantially all of the assets of bankrupt Restore Health Pharmacy, TCS Labs and Belvidere Labs.
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