BofA Amends Summer Infant Facility Following Toys “R” Us Bankruptcy

In response to the Toys “R” Us Chapter 11 filing, Summer Infant, a manufacturer of infant and baby products, amended its existing credit agreement to allow for greater flexibility.

Fitch: NewStar on Rating Watch Following Acquisition by First Eagle

Fitch Ratings placed NewStar Financial’s Long-Term and Short-Term Issuer Default Ratings ‘BB-‘ and ‘B’, respectively, on rating watch evolving following the announcement that First Eagle Investment Management is acquiring NewStar.

PNC, BofA Amend Universal Stainless Credit Agreement

Universal Stainless & Alloy Products, obtained a favorable amendment to its current credit agreement which immediately lowers the company’s interest rates on its senior bank borrowing by 75 basis points.

CIBC Provides $24.MM Facility to AAR & AAR Canada Holdings

AAR, as parent guarantor, and AAR Canada Holdings, as borrower, entered into a C$31 million ($24.5 million) credit agreement with the Canadian Imperial Bank of Commerce.

Grant Thornton Names Tabakh Audit Practice Leader

Rimma Tabakh was named Grant Thornton’s Greater Bay Area local audit practice leader.

Societe Generale, BNP Lead First Quantum Refi

First Quantum Minerals signed a new term loan and revolving credit facility with its core relationship banks, increasing the amount to $2.2 billion from $1.87 billion.

ACF Upsizes Castle Brands Facility to $21MM

Castle Brands amended its credit facility with ACF FinCo to increase the revolver from $19 million to $21 million.

Utica Completes Closes Two Transactions Totaling $5MM

Utica Leaseco completed two transactions totaling $5 million.

Reuters: Companies Experimenting with LIBOR Alternatives

Reuters reported that with the end of the LIBOR benchmark approaching at the end of 2021, companies are experimenting with alternative language, often without consulting lenders.

JPMorgan Chase Agents Navistar $1B Refi

Navistar International launched the refinancing of its existing approximately $1 billion senior secured term loan.