Wells Fargo Reports ‘Flat’ U.S. C&I Balance: Yield Up 35 BPS

Wells Fargo reported U.S. C&I average loan balances of $273.7 billion for the six-month period ending June 30, 2018, compared to $273.9 billion a year earlier. The average yield of 4.00% was up 35 BPS from 3.65% for the same six month period in 2017.

Crystal Provides $9.5MM Facility to Birks Group

Birks Group completed a C$12.5 million ($9.5 million) senior secured term loan with Crystal Financial.

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.

Wells Fargo Downsizes BlueKnight Facility to Support Terminal Sales

Wells Fargo amended Blueknight Energy Partners’ credit facility, reducing the total commitment from $450 million to $400 million, to support the company’s sale of three asphalt terminals to Ergon Asphalt & Emulsions.

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.

Wells Fargo Agents $300MM Facility for IMAX

IMAX entered into a new five-year, $300 million senior secured revolving credit facility. Wells Fargo acted as agent on the transaction.

CIT Supports Innergex Solar Energy Project

Innergex Renewable Energy acquired a sizable 250MWAC/315 MWDC photovoltaic solar project located in Winkler County, TX from Longroad Energy Partners.

Wells Fargo Supports Plantronics Acquisition of Polycom

Plantronics completed its acquisition of Polycom in a deal valued at $2 billion. Wells Fargo served as administrative agent for a new $1.275 billion term loan to support the transaction.

BofA, Others Provide $600MM Facilities to Cantel Medical

Cantel Medical entered into a $600 million amended and restated credit agreement with Bank of America, Wells Fargo and JPMorgan Chase as lenders.

Wells Fargo, Credit Suisse Support Regional Management Securitization

Regional Management, a diversified consumer finance company, closed its first securitization backed by large loan receivables. The senior class of the securitization received an “AA” rating from DBRS.