Today’s News

    Virginia Commonwealth Hires Bien as SVP, Commercial Banking

    Virginia Commonwealth Bank has hired Bill Bien as senior vice president, Commercial Banking. Bien will be developing commercial banking relationships in the Richmond region.

    JPMorgan Chase Agents Facility Upsize Group has increased its existing term loan by $50 million and added $110 million of additional capacity to its revolver. JPMorgan Chase served as administrative agent for the lenders.

    Split Emerging in Liquid U.S. Leveraged Loan Market

    Reuters reported that companies with strong earnings and good trading track records are successfully accessing the U.S. leveraged loan market at ever-tighter spreads. Weaker companies are not faring as well.

    Credit Suisse to Support Post Weetabix Buy

    Post Holdings plans to borrow approximately $2 billion under a new incremental term loan facility to support its purchase of Weetabix. Credit Suisse increased the size of the company’s current term loan from $2 billion to $2.2 billion to support the buy.

    Bank of Nova Scotia Provides $500MM Facility to Telenet Financing

    Telenet Financing entered into a $500 million financing agreement with The Bank of Nova Scotia as facility agent.

    Gardere Adds Three to Restructuring Practice

    Law firm Gardere Wynne Sewell added Frank J. Wright, C. Ashley Ellis and Erin C. McGee to its Financial Restructuring and Reorganization practice in Dallas.

    Crown Capital Provides $12MM Bridge Loan to Support Petrowest Refi

    Crown Capital has agreed to provide a $12 million bridge loan to Petrowest as part of the company’s restructuring effort. Crown will also refinance the company’s existing term loan, increasing the amount from $12 million to $15 million.

    Antares Capital Closes $2.1B CLO Transaction

    Antares Capital Advisers closed Antares CLO 2017-1, a $2.1 billion collateralized loan obligation.

    Bankruptcy Law Firm Forshey Prostok Expands in Dallas/Fort Worth

    The complex bankruptcy and restructuring law firm Forshey Prostok has promoted three attorneys and added two lawyers to its Dallas/Fort Worth offices.

    Eckstein Joins MH&H Creditors’ Rights & Bankruptcy Group

    Andrew B. Eckstein has joined Mirott Hock & Hamroff as counsel in its Creditors’ Rights and Bankruptcy practice group in the firm’s New York City office. He joins the firm from Blank Rome.