Today’s News

Last Updated: Friday, April 24, 2015, 1:35 pm

Harris Joins ORIX Leveraged Finance Team

The ORIX Leveraged Finance team hired Ben Harris joined the group as a director based in New York focused on business development.

Durable Goods Inventories Breaks Record High

Inventories of manufactured durable goods in March increased $0.3 billion or 0.1% to $412.9 billion, the highest level since the series was first published.

CTTMA, ABI, NYIC Conference to Focus on Chapter 11 Reform

Panelists will discuss Chapter 11 reform, transforming credit risk, and strategies for corporate renewal and restructuring at the Credit & Bankruptcy Symposium.

J.P. Morgan, PNC Lead Worthington Facility Increase

Worthington Industries increased its revolver commitments to a total of $500 million. The revolver is with a consortium of banks led by J.P. Morgan Securities and PNC Capital Markets.

GE Capital Provides $320MM Facility to Diplomat Pharmacy

GE Capital, Healthcare Financial Services (HFS) announced it provided a $320 million senior secured credit facility to Diplomat Pharmacy. A portion of the funds was used to acquire BioRx.

Wells Fargo Capital UK Team Named ABL of the Year

Wells Fargo Capital Finance UK took home the 2015 Asset-Based Lender of the Year award at the 14th Annual Private Equity Awards in London.

FirstBank Leads Charge Payment Facility

Charge Payment announced a $50 million facility, two acquisitions and a name change to i3Verticals. The bank group is led by FirstBank of Tennessee and includes Bank of America and other local banks.

sPower, CohnReznick Secure $168.5MM Debt Financing

sPower and CohnReznick Capital Markets Securities announced the placement of $168.5 million in back leverage to sPower provided by KeyBank, OneWest Bank and Zions Bank.

GE Energy Invests in Green Power Solar Project

GE Energy Financial Services is partnering with GPI to invest in a solar project in Japan. GE Energy Financial Services is also investing in the project, and financing from a syndicate, led by MUFG, is being utilized.

MCC Funds ABL Credit Line

Mackinac Commercial Credit funded an ABL credit line for an environmental firm.