Santander Closes $10MM Revolver for Janel Group

Santander Bank’s asset-based lending group closed a $10 million senior secured revolving line of credit with Janel Group. The credit will be used to support the company’s growing working capital needs.

JPMorgan Agents $273MM Facility for Progress Software

Progress Software amended its credit agreement to include a $123.7 million senior secured term loan and a $150 million revolving credit facility.

Opportunities and Challenges: Asset-Based Lending in 2018

The digital world has transformed every aspect of our lives. Some of us still remember pasting photographs into albums and racing to answer the telephone mounted on the wall — picking up the receiver without knowing who was on the other end of the line. Technology has changed asset-based lending in ways no one could have predicted 20 years ago. ABF Journal contributor Hugh Larratt-Smith explores the evolving ABL landscape and evaluates the impact these changes will have in 2018.

Santander Appoints Marshall as Regional Head of Middle Market for NY/NJ

Santander Bank has appointed Ellen Marshall to regional head of Middle Market for New York and New Jersey in its Commercial Banking division.

Scotiabank Agents $1B Facility for Duke Energy

Electric power company Duke Energy closed a $1 billion credit agreement with Scotiabank as administrative agent.

Santander Appoints Silverstein to ABL Team

Santander Bank added Steven Silverstein to its Asset-Based lending group as senior vice president.

Santander Closes $10MM Revolver with OL International

Santander Bank closed a $10 million senior secured revolver with OL International, an ocean and airfreight cargo transportation provider.

BofA Upsizes American Midstream Facility to $900MM

American Midstream and its partners increased its credit facility from $750 million to $900 million. Bank of America was administrative agent for the transaction.

BofA Agents $250MM Sears Hometown and Outlet Stores Facility

Sears Authorized Hometown Stores, Sears Home Appliance Showrooms and Sears Outlet Stores entered into a $250 million amended credit agreement with Bank of America as administrative agent and collateral agent.

Santander Agents Full Circle Capital $40MM Downsize

Full Circle Capital entered into an amendment to its revolver with Santander Bank to reduce the size of the facility from $45 million to $5 million.