Today’s News

Last Updated: Thursday, April 17, 2014, 5:00 pm

JPMorgan Chase Leads $1.35B Brown & Brown Facility

Brown & Brown announced its entry into a $1.35 billion credit facility, funded by a syndicate of financial institutions led by JPMorgan Chase Bank.

Capital One Expands D.C. Mid-Market Commercial Banking

Capital One Bank appointed Kate Marcotte and Andrew Brkic as commercial banking relationship managers. Previously, Marcotte held leadership roles at Bank of America Merrill Lynch. Brkic previously served with Citibank.

Oxford, MidCap Close $20MM Facility with Zafgen

Oxford Finance and MidCap Financial closed a $20 million senior credit facility with biopharmaceutical company Zafgen.

TAB Bank Promotes Hatch to VP of ABL

TAB Bank announced the promotion of Justin Hatch to VP of ABL.

GB Credit Partners Participates in $42.5MM Shopko Financing

GB Credit Partners provided Shopko with $7.5 million of a $42.5 million term loan. The financing is secured by Shopko’s inventory, accounts receivable and real estate.

GE Capital’s CLL Unit Profit Up 42%

General Electric reported GE Capital’s Commercial Lending and Leasing unit Q1/14 revenue and profit was $3.58 billion and $564 billion, respectively up 2% and 42% from $3.51 billion and $398 million in Q1/13.

Siena Completes DIP Facility for Pacific Steel Casting

Siena Lending Group announced the completion of a $8.5 million debtor-in-possession revolving credit facility for Pacific Steel Casting Company to support the sale of the company through the 363 bankruptcy sale process.

Wells Fargo Names PA Banking Vets to New Advisory Board

Wells Fargo announced the formation of an executive advisory board for its commercial banking operations in PA, naming Edward Ryan and Willard J. Martin Jr. to serve in Philadelphia and Pittsburgh, respectively.

Wells Fargo, Others Arrange Bloomin’ Brands Refi

Bloomin’ Brands announced its wholly owned subsidiary refinanced a portion of its existing facilities. Wells Fargo Securities, Merrill Lynch and J.P. Morgan Securities acted as joint lead arrangers and joint bookrunners.

Credit Suisse Agents Orbitz Worldwide Refi

Orbitz Worldwide announced it successfully completed the refinancing of its $440 million outstanding term loans with a $450 million term loan. Credit Suisse AG acted as administrative agent, according to an SEC filing.