Independence Contract Drilling amended its existing senior secured revolving credit facility agented by CIT. Commitments were reduced to $85 million with an uncommitted $25 million accordion feature.
American Apparel secured a $90 million asset-based revolver with Wilmington Trust as agent for a lender group replacing Capital One Business Credit. The company noted “substantial doubt that it would be able to continue as a going concern.”
Nuverra Environmental Solutions announced it revised its existing revolver to increase the maximum availability under the Revised Facility from $200 million to $245 million.
Capital One Bank announced it appointed Daniel deBrauwere to the newly created role of head of Capital One Business Credit, the bank’s national ABL business.