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The Latest Asset-Based Finance Transactions
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ABL Industry Service Providers & Specialty Lenders
AT&T agreed to buy Time Warner for $85 billion. The company entered into a $40 billion term loan credit agreement with JPMorgan Chase as agent to support the merger.
Wells Fargo Capital Finance Chairman and CEO Henry Jordan will retire in December. At that time, Wells Fargo Capital Finance, led by Guy Fuchs, will join Wells Fargo Commercial Capital Group.
In its Q3/16 earnings report, CIT announced that financing leasing assets of $49.3 billion were down 1.6% from the $50.1 billion reported in the same quarter a year ago.
Citizens Commercial Banking provided a $20 million revolving credit facility to Riesbeck’s Food Markets. Citizens is the sole lender.
Paul Oris joined The PrivateBank’s Asset-based Lending division as a managing director in its Pittsburgh office.
Party City Holdings entered into an amendment to its term loan credit with Deutsche Bank as administrative agent.
Bloomberg reported that Nine West Holdings entered an agreement with Gordon Brothers and Wells Fargo to lift borrowing restrictions on its credit facility in anticipation of the holiday season.
Virtu Financial refinanced its term loan, resulting in an extended maturity and lower cost. J.P. Morgan was lead bookrunner and arranger in the transaction.
Capital One served as sole lead arranger and administrative agent for a $162.5 million senior secured credit facility for Palm Garden Healthcare.
Doug Bacon joined Kirkland & Ellis as a corporate partner in its Houston office.