Today’s News

Last Updated: Friday, May 22, 2015, 1:31 pm

JPMorgan Defeats Investors’ Claims Over London Whale Losses

JPMorgan Chase reportedly directors don’t have to face an investor lawsuit claiming their miscues left the bank with $6.2 billion in losses from a trader known as the London Whale.

Wilmington Trust Agents Sabine Facility Amendment

Sabine Oil & Gas announced it entered into a forbearance agreement with the lenders under its second lien term loan facility. Wilmington Trust acted as administrative agent, according to an SEC filing.

Intel Capital Invests in DSC

Digital Specialty Chemicals received an equity investment from Intel Capital to enhance the company’s research and development capabilities and will accelerate manufacturing capacity expansion.

BNP Paribas, Others Arrange Tieto Syndicated Facility

Tieto refinanced its long-term syndicated credit facility with a new facility of EUR 150 million ($165 million).

GE’s $20B Borrowing Plan Could Risk Credit Rating

General Electric’s credit rating reportedly is at risk as the manufacturing giant weighs adding $20 billion of debt to support its expansion.

Tech CU Launches Credit Union ABL Program

Tech CU is expanding its commercial loan services by providing asset-based lending, including A/R and inventory financing.

Ex-Fortress Manager Said to Plan Distressed Debt Fund

Former Fortress Investment Group managing director, Jared Cohen, reportedly is planning to start his own distressed-debt fund, according to two people with direct knowledge of the matter.

U.S. Judge Rules RadioShack IP Auction Fair

A U.S. bankruptcy judge reportedly cleared the way for RadioShack to sell its brand name and customer data to a Standard General affiliate, rejecting a competing bidder’s claim that the auction process was unfair.

Bibby Funds Business World International

Bibby Financial Services announced a successful partnership with Business World International, a Canadian-based global B2B publishing company with operations in North America, Australia, Africa and Asia.

Citizens Hires Abraham as SVP

Citizens Bank announced that Robert D. Abraham was hired as an SVP of new business development for Citizens Commercial Banking.