Today’s News

    Three Experienced Bankers Join PNC Senior Secured Financing Team

    PNC Bank added Daniel Morihiro, senior vice president; Patrick Simpson, senior vice president and Graham Holding, vice president, to the senior secured financing team.

    Credit Suisse Provides $200MM Revolver for OnDeck

    Online business lender OnDeck closed a $200 million asset-backed revolving debt facility with Credit Suisse.

    Monroe’s Koenig Wins M&A Atlas Leadership Achievement Award

    Ted Koenig, president, CEO and founder of Monroe Capital, was awarded one of three leadership achievement awards at the Global M&A Network 8th Annual Americas M&A Atlas Awards.

    Wells Survey: Small Business Owners Most Optimistic Since January 2008

    According to the latest Wells Fargo/Gallup Small Business Index, the overall index score increased to 80 in November, up 26 points from a year ago and represents the highest optimism reading since January 2008.

    Wells Fargo Agents $315MM Medspace Facility

    Medspace closed a senior secured term loan facility of $165 million and a revolving credit facility of $150 million with Wells Fargo as administrative agent.

    Sears Earnings Hurt by Lower Same Store Revenues, Closings

    Sears reported a Q3/16 net loss of $748 million, 65% higher compared to last year’s loss of $454 million. Revenues declined to $5.0 billion from $5.8 billion on lower same-store sales and store closings.

    Bloomberg: PrivateBancorp Delays Vote on $3.96B CIBC Bid

    Bloomberg reported that PrivateBancorp delayed a shareholder vote on a takeover by Canadian Imperial Bank of Commerce after the $3.96 billion offer was called insufficient after a post-election rally by lenders.

    BofA Agents New $2.25B Facility for Consolidated Edison

    Consolidated Edison Company of New York closed a $2.25 billion credit agreement with Bank of America as administrative agent.

    First Midwest Expands Healthcare Group With Four New Hires

    First Midwest Bank hired four veteran bankers to further the strategic expansion of its existing healthcare business.

    Deloitte Survey: M&A Will Increase in First 90 Days After U.S. Elections

    Deloitte’s M&A trends report 2016, year-end edition, shows an anticipated rebound in the year ahead with 86% of surveyed private equity and 71% of surveyed corporate dealmakers expecting to close more deals in the next 12 months.