Cenveo Completes Restructuring; BofA, Others Provide Exit Financing

Cenveo successfully completed its restructuring and Chapter 11 Plan of Reorganization and emerged from bankruptcy. Bank of America, among others, provided exit financing for the company.

BofA Agents $175MM Upsize for WEX

WEX has repriced its senior secured credit loans under its existing credit facility, extending the deadline to July 1, 2023, increasing the revolver by $150 million and providing an additional $25 million tranche A term loan.

Crystal, Citizens Agent $107.5MM Facilities for Vince

Vince Holding closed a new $27.5 million senior secured term loan facility and a new $80 million senior secured revolving credit facility.

BofA Agents $1.3BB Facility for Covanta

Covanta Holdings closed two new $1.3 billion credit facilities: a $900 million revolving credit facility and a $400 million term loan. The refinancing is an increase of $100 million over its previous facilities.

Citibank, Citizens Lead $75MM Facility for MiraMed

MiraMed Global Services completed a new five-year, $75 million syndicated senior secured credit facility with Citibank and Citizens served as lead arrangers.

BofA Agents $411MM Exit Financing for Cenveo

The U.S. Bankruptcy Court for the Southern District of New York approved the exit plan of Stamford, CT-based print products company Cenevo. The company received exit financing commitments in the form of a $175 million ABL facility and a $236 million term loan.

Citizens Names Valentino Head of National Security Alarm Group

Mark Valentino was tapped to lead Citizens Bank’s national Security Alarm banking group and its Not-For-Profit banking group in Massachusetts.

Citizens Agents $100MM Revolver for Champion Home Builder

Citizens Bank served as administrative agent on a $100 million revolving credit facility for Champion Home Builder and its new parent company Skyline Champion.

BofA, Others Upsize Celadon Revolver to $195MM

Shipping company Celadon Group amended its revolving line of credit, increasing the maximum borrowing capacity from $180 million to $195 million and the letters of credit from $30 million to $35 million.

JPMorgan Agents New $300MM ABL Revolver for Star Group

Home energy provider Star Group closed a $300 million asset-based revolving credit facility with JPMorgan Chase as administrative agent.