Nine Banks Face Losses on American Greetings Buyout Debt

According to a Reuters report, nine banks are facing losses on loan and bond financing backing the buyout by a private equity firm of American Greetings.

BofA Merrill Lynch, JPMorgan Lead $8B Coty Refi

According to Reuters, Bank of America Merrill Lynch and JPMorgan will lead an $8 billion debt refinancing for beauty company Coty.

MUFG Leads $4.35B Petrobas Revolver

Petróleo Brasileiro entered into a $4.35 billion revolving credit facility with a syndicate of 17 banks. The Bank of Tokyo-Mitsubishi UFJ served as senior mandated lead arranger on the transaction.

BNP Paribas, GS, Others Lead Financing to Support MFG Buy

Clayton, Dubilier & Rice-backed Motor Fuel Group completed its acquisition of MRH, the UK’s largest petrol station and convenience retail operator. The transaction is valued at approximately £1.2 billion ($1.6686 billion).

ABN AMRO, Deutsche, Others Lead Action $2.9B Refi

Reuters reported Dutch-based retailer Action needs to refinance exisiting debt and pay out a dividend to shareholders, which has caused it to initiate a €2.4 billion ($2.9 billion) leveraged loan.

Citi Agents $850MM Revolver for Ardagh

Ardagh Group closed on a five-year asset-based revolving credit facility of $850 million agented by Citi.

Sutherland Appointed Head of ING Wholesale in Latin America

ING appointed Willem Sutherland head of ING Wholesale in Latin America, a region where ING has been active for more than 30 years.

ING Converts Revolver to Sustainable Loan for Wilmar

Wilmar International has partnered with ING to convert a portion of its existing bilateral, committed revolving credit facility of $150 million into a sustainability performance-linked loan.

ING, Kabbage Expand Small Business Lending into France & Italy

Kabbage and ING expanded their strategic partnership into France and Italy to provide small businesses with real-time access to working capital.

Barclays, JPMorgan, Others Lead Olam $1.75B Revolver

Olam International secured a revolving credit facility $1.75 billion. Olam Treasury, a 100%-owned subsidiary of Olam, is a co-borrower.