TCF Capital Supports Cathay Capital’s Recap of Innovative

TCF Capital Funding provided secured financing to support the recapitalization of Innovative Office Products led by Cathay Capital Private Equity.

BMO to Provide $2MM Credit Facility to GreenPower

GreenPower Motor is closing a new $2 million credit facility with Bank of Montreal.

BlackArch Advises on Sale of World Wide to Bain Capital

BlackArch Partners was retained by ShoreView Industries as exclusive advisor on the sale of former ShoreView company, World Wide Packaging, to Bain Capital Private Equity.

SVB Provides $30MM Facility to Rover, a network of pet sitters and dog walkers closed a $30 million credit facility with Silicon Valley Bank in addition to a $125 million investment led by T. Rowe Price.

PNC Downsizes Cloud Peak Energy’s Credit Facility

Cloud Peak Energy amended its credit agreement with a bank group led by PNC as administrative agent, reducing the capacity of the facility to $150 million from $400 million.

ABF Journal to Observe Memorial Day

The ABF Journal and office will be closed on Monday, May 28 in observance of Memorial Day.

OCC Changes Tune: Tells Banks to Increase Small-Dollar Lending

The Office of the Comptroller of the Currency is now urging U.S. banks to provide more “short-term, small-dollar loans,” Reutersreported.

Bank of Texas Upsizes Earthstone Energy Facility to $225MM

Earthstone Energy upsized its senior secured revolving credit facility from $185 million to $225 million and lowered its interest rate by 50 basis points. Bank of Texas served as administrative agent.

CIT Closes $25MM Loan to Friendly Franchisees

CIT Group’s Franchise Finance team, part of CIT’s Business Capital division, closed a $25 million loan to La Palma, CA-based Friendly Franchisees.

Dump LIBOR, Say Fed, BoE Officials

Reuters reported both the U.S. Federal Reserve and Bank of England urged global financial markets to increase their efforts to replace LIBOR with alternative interest rate benchmarks.