http://www.abfjournal.com ABF Journal 30 Fri, 19 Mar 2010 12:21:48 -0500 CapitalSource is providing a $71 million senior loan to Tri-City Medical Center, a 397-bed, acute care hospital. The financing includes a $51 million secured term loan and a $20 million revolving line of credit. http://www.abfjournal.com/story.asp?id=29505 Thu, 18 Mar 2010 12:4:47 -0500 Kendle International has entered into a new $35 million secured revolving credit facility with JPMorgan Chase Bank as administrative agent. The new facility replaces the company's previous revolver. http://www.abfjournal.com/story.asp?id=29506 Thu, 18 Mar 2010 12:5:5 -0500 Thomas M. McCabe has joined Buccino & Associates in its Chicago office. McCabe was formerly a managing director and principal at two national turnaround firms. http://www.abfjournal.com/story.asp?id=29507 Thu, 18 Mar 2010 12:5:19 -0500 GE Capital, Healthcare Financial Services has provided $31.5 million as part of a $145 million senior secured credit facility for Harden Healthcare, a provider of home-healthcare services and facilities management. http://www.abfjournal.com/story.asp?id=29508 Thu, 18 Mar 2010 12:6:15 -0500 In all regions, default rates in 2009 outpaced the long-term averages, Standard & Poor's said. If all rated entities are included, the global default rate rose to 3.99% in 2009 from 1.72% a year earlier. http://www.abfjournal.com/story.asp?id=29509 Thu, 18 Mar 2010 12:6:30 -0500 Starwood Capital Group, TPG Capital and Five Mile Capital Partners have reached an agreement to invest up to $905 million in Extended Stay Hotels as part of a recapitalization plan that would allow the hotel chain to emerge from bankruptcy. http://www.abfjournal.com/story.asp?id=29510 Thu, 18 Mar 2010 12:6:52 -0500 Correspondent Business Credit (CORBC) provided a $1 million alternative accounts receivable based line of credit to an imaging company allowing the company to meet new sales orders. http://www.abfjournal.com/story.asp?id=29511 Thu, 18 Mar 2010 12:7:14 -0500 Hercules Technology Growth Capital has committed over $52 million in structured debt financing to new and existing portfolio companies. http://www.abfjournal.com/story.asp?id=29512 Thu, 18 Mar 2010 12:7:52 -0500 Solutia closed a new $1,150 million senior secured credit facility. Deutsche Bank Securities, Jefferies Finance, Citigroup Global Markets, HSBC Securities (USA) and J.P. Morgan Securities acted as joint lead arrangers and joint bookrunners. http://www.abfjournal.com/story.asp?id=29513 Thu, 18 Mar 2010 12:8:52 -0500 Conn's has completed amendments to its asset-based loan and securitization borrowing facilities with Three Pillars Funding, JPMorgan Chase Bank, Park Avenue Receivables Company and SunTrust Robinson Humphrey. http://www.abfjournal.com/story.asp?id=29514 Thu, 18 Mar 2010 12:9:12 -0500 Ares Capital announced that all four leading independent proxy advisory firms support its pending merger with Allied Capital. http://www.abfjournal.com/story.asp?id=29515 Thu, 18 Mar 2010 12:9:35 -0500 NewOak Capital announced Donald H. Layton was appointed as senior advisor and co-chairman of its investment committee. Layton was previously the vice chairman at J.P. Morgan Chase and chairman and CEO of E*Trade. http://www.abfjournal.com/story.asp?id=29516 Thu, 18 Mar 2010 0:0:0 -0500 Bankruptcy and financial restructuring attorney Jason A. Nagi has joined Polsinelli Shughart as a shareholder with the firm's Financial Services Department. http://www.abfjournal.com/story.asp?id=29504 Wed, 17 Mar 2010 12:25:9 -0500 Virgin Media has entered into a new senior facilities agreement with Deutsche Bank, BNP Paribas, BofA Merrill Lynch, Credit Agricole Corporate and Investment Bank, GE Capital, Goldman Sachs International, J.P. Morgan, Lloyds TSB Corporate Markets, RBS and UBS. http://www.abfjournal.com/story.asp?id=29502 Wed, 17 Mar 2010 12:24:34 -0500 Zhone Technologies has renewed its credit facility with Silicon Valley Bank. The facility provides working capital financing of up to $25 million to support borrowings and letters of credit. http://www.abfjournal.com/story.asp?id=29501 Wed, 17 Mar 2010 12:24:19 -0500 Unigene Laboratories has entered into an amended and restated financing agreement for $33 million three-year convertible senior secured term notes. An entity managed by Victory Park Capital Advisors is the sole investor in the transaction. http://www.abfjournal.com/story.asp?id=29500 Wed, 17 Mar 2010 12:24:1 -0500 Longroad Asset Management added four professionals to its investment team: Peter McLaughlin joined Longroad as the director of Originations leading the deal origination network, Ross Sealfon and Brian Hong joined Longroad's Investment team, and Adrienne Cerulo joined the firm as controller. http://www.abfjournal.com/story.asp?id=29499 Wed, 17 Mar 2010 12:23:34 -0500 Salvatore (Sal) LoBiondo, Jr. has joined Marotta Gund Budd & Dzera as a senior managing director. Previously, he was a managing director at Zolfo Cooper. http://www.abfjournal.com/story.asp?id=29498 Wed, 17 Mar 2010 12:23:19 -0500 KeyCorp has promoted Christopher M. Gorman to senior executive vice president and head of its National Banking business. He will also become vice chairman of KeyBank. http://www.abfjournal.com/story.asp?id=29496 Wed, 17 Mar 2010 12:22:27 -0500 Gladstone Capital entered into a fourth amended and restated credit agreement providing for a $127 million revolving line of credit arranged by Key Equipment Finance as administrative agent. Branch Banking and Trust Company and ING Capital also joined the credit facility as committed lenders. http://www.abfjournal.com/story.asp?id=29495 Wed, 17 Mar 2010 12:22:10 -0500 Bridge Capital Holdings has closed a new $5 million flexible credit facility with TranSwitch. http://www.abfjournal.com/story.asp?id=29494 Wed, 17 Mar 2010 12:21:38 -0500 LBC Credit Partners announced John T. Jadach has been hired as a vice president in the firm's Philadelphia office. Prior to joining LBC, Jadach was with JP Morgan's principal investments group, focusing on mezzanine transactions. http://www.abfjournal.com/story.asp?id=29493 Wed, 17 Mar 2010 12:21:23 -0500 John Krupar has joined Loughlin Meghji + Company as a managing director and leader of the firm's Performance Improvement Practice. Krupar was previously a partner with the Oliver Wyman consultancy. http://www.abfjournal.com/story.asp?id=29492 Wed, 17 Mar 2010 12:21:5 -0500 According to Crain's Detroit Business, AlixPartners has hired Fritz Henderson as a consultant on international operations for the firm. Henderson is the former General Motors CEO. http://www.abfjournal.com/story.asp?id=29490 Wed, 17 Mar 2010 12:20:35 -0500 In a recently released 10-K, CIT said that net charge-offs in 2009 were almost $2 billion, four times higher than the previous year. The lender noted that $1.4 billion or 71.4% of the total was attributable to its Corporate Finance business. http://www.abfjournal.com/story.asp?id=29489 Wed, 17 Mar 2010 11:23:16 -0500 In an expansion of its development and operations, Hartsko Financial Services will be opening a West Coast branch in Laguna Niguel, CA. Industry veteran David Smith will become Hartsko's vice president for business development. http://www.abfjournal.com/story.asp?id=29491 Wed, 17 Mar 2010 0:0:0 -0500 1st Service Solutions, a firm dedicated to serving as a borrower advocate in loan restructuring and assumptions, formed a strategic partnership with The BSC Group to provide loan restructuring services to self-storage owners and investors with distressed properties. http://www.abfjournal.com/story.asp?id=29497 Wed, 17 Mar 2010 0:0:0 -0500 Frank Hennessey, founder, chairman and CEO of Hennessey Capital, has been named the recipient of Crain's Detroit Business M&A Lifetime Achievement Award. Crain's and the Detroit chapter of the ACG will present the honor at the M&A Awards ceremony on March 18. http://www.abfjournal.com/story.asp?id=29503 Wed, 17 Mar 2010 0:0:0 -0500 The Federal Reserve left short-term interest rates untouched following the Federal Open Market Committee's (FOMC) second meeting of 2010 yesterday (3/16), repeating that the rate would probably remain “exceptionally low” for “an extended period.” http://www.abfjournal.com/story.asp?id=29488 Tue, 16 Mar 2010 16:32:51 -0500 Visteon filed an amended plan of reorganization and disclosure statement. Under the amended plan, the term lenders' entire $1.629 billion secured claim will be converted to equity, which would leave the reorganized company virtually free of debt in the U.S. http://www.abfjournal.com/story.asp?id=29487 Tue, 16 Mar 2010 11:52:35 -0500