ApplePie Closes $180MM Franchise Loan Purchase with TowerBrook

Online lender ApplePie Capital entered into a $180 million franchise loan purchase agreement with TowerBrook Capital. The company also added Tim Morris, former CRO of GE Capital Franchise Finance, to its management team.

GE Capital Sells $3.6B Investment in Italian Bank

GE sold its shares in GE Capital Interbanca in Italy to Banca IFIS. The transaction represents an ending net investment of $3.6 billion.

GE Capital Completes Spin-Off of Polish Bank

GE Capital completed the spin-off of Bank BPH’s Core Bank to Alior Bank, representing ENI of $3.6 billion. GE has closed $178 billion of transactions since announcing it would sell $200 billion of business by the end of 2016.

Super G Hires Bellah to Expand Cash Flow Lending Group

Super G Funding added senior executive Steve Bellah to its Cash Flow Lending Division. Bellah formerly worked with CIT, GE Capital, Siena Lending and Wells Fargo Foothill, among others.

Antares Capital Arranges $395MM Augusta Sportswear Term Loan

Reuters reported that Antares Capital is arranging a $395 million term loan for August Sportswear, which will replace its existing $367 million unitranche loan with GE Capital and Ares Capital.

Wells Fargo Completes Acquisition of GE Capital’s EMEA CDF Business 

Wells Fargo completed the purchase of the Europe, Middle East and Africa segment of GE Capital’s Commercial Distribution Finance business.

S&P Cuts GE Ratings on Possible Acquisition-Related Debt

Bloomberg reported that due to concerns that GE may add debt in order fo fund future acquisitions, S&P Global Ratings cut the company’s credit rating

GE Completes Sale of U.S. Restaurant Finance Assets

GE completed the sale of GE Capital’s U.S. restaurant financing assets to First Horizon National, Wintrust Financial and Sterling National Bank.

Former GE Capital Exec Joins JPMorgan

Reuters reported JPMorgan Chase hired Clarence Nunn, the former chief executive of GE Capital’s franchise finance business, to lead its middle market expansion strategy in the Southeastern U.S.

Opus Bank Adds Solanki to Healthcare Banking Team

Opus Bank appointed former GE Capital, CIT and Prosperity Bank veteran Sharmila Solanki managing director of Healthcare Banking.