BofA, Others to Provide $5.5MM DIP Facilities to PG&E

Bank of America, JPMorgan Chase Bank, Barclays Bank and Citigroup Global Markets signed a commitment letter to provide $5.5 billion in senior secured super-priority DIP credit facilities to support PG&E through its bankruptcy process.

BofA Amends ABL Revolver for Footware Company Caleres

Bank of America served as administrative agent, collateral agent, documentation agent and lead issuing bank on an amendment to footwear company Caleres’ asset-based revolver, extending it to January 2024.

Wells Fargo Agents New $25MM Term Loan for Stage Stores

Wells Fargo Bank acted as administrative agent, collateral agent and term loan agent on a new $25 million term loan for Stage Stores, bringing the total availability under the company’s senior secured revolver to $475 million.

Bank of America Files Patent for Blockchain-Enabled ATMs

According to Coindesk, Bank of America has filed a patent for a shared network of ATMs that utilize blockchain technology, potentially allowing the bank to accelerate the transaction speeds of cash withdrawals, deposits and gift registries.

BofA Agents $3.15B Facilities for Drugstore Giant Rite Aid

Rite Aid entered into a new senior secured credit agreement, consisting of a $2.7 billion senior secured asset-based revolving credit facility and a $450 million “first-in, last out” senior secured term loan facility. Bank of America served as both administrative and collateral agent on the facilities.

BofA Agents $450MM Revolvers for Hannon Armstrong

Bank of America acted as an administrative agent on $450 million in credit facilities for Hannon Armstrong Sustainable Infrastructure Capital, a capital provider focused on reducing the impact of climate change.

Société Générale Agents $1.25B Revolver for Cheniere Energy

Société Générale acted as administrative agent on a $1.25 billion amended and restated revolving credit agreement for Cheniere Energy, a Houston-based energy company primarily engaged in LNG-related businesses.

BofA, Deutsche Bank Provide $50MM DIP Facility to Parker Drilling

Parker Drilling voluntarily filed for Chapter 11 in order to facilitate its restructuring support agreement. Bank of America and Deutsche Bank agreed to provide $50 million in DIP financing to facilitate the restructuring.

Small Businesses End 2018 on High Note, Look to Expand in 2019

Most U.S. small business owners anticipated year-over-year revenue growth in 2018, with many indicating plans to expand in 2019, according to the Bank of America Business Advantage Small Business Owner Report.

BofA, JPMorgan Chase Secure $150MM Revolver for Corcentric

Corcentric secured a $200 million senior credit facility, consisting of a $150 million revolver from Bank of America and JPMorgan Chase and a $50 million term loan from TCW Asset Management.