Today’s News

    CIBC Adds Rosenstrauch to San Francisco ABL Team

    CIBC named Derek Rosenstrauch managing director of Business Development, Northern California Region, for its Asset-based Lending Group.

    Encina Provides $57MM Revolver to Concrete Manufacturer

    Encina Business Credit provided a $57.5 million senior secured revolving credit facility to a manufacturer and supplier of concrete construction products.

    Tanenbaum Rejoins GA Global Partners as President

    Jeff Tanenbaum rejoined asset disposition solutions provider GA Global Partners as president. He will be based in the firm’s headquarters in Calabasas, CA.

    Scotiabank Agents $1.05B Facility for Valvoline

    Valvoline amended its credit agreement, closing a $1.05 billion facility with the Bank of Nova Scotia as administrative agent and Citibank as lead arranger.

    Wurst Elected to American College of Commercial Finance Lawyers Board Of Regents

    Jeffrey A. Wurst, a senior partner at Ruskin Moscou Faltischek and a regular contributor to ABF Journal, has been elected to the Board of Regents of the American College of Commercial Finance Lawyers.

    J.P. Morgan Leading Cable ONE New $500MM Facility Syndicate

    Cable One has launched the syndication of a new $350 million senior secured revolving credit facility, a new $250 million senior secured term loan A facility and a new $450 million senior secured delayed draw term loan A facility. J.P. Morgan is acting as lead arranger.

    Brown Gibbons Lang Adds Two New Managing Directors

    Investment bank Brown Gibbons Lang added Christoph Brandenberger and Manfred Steiner as managing directors in its Healthcare & Life Sciences practice.

    SG Credit Supports Energy Firm Acquisition of Oilfield Service Provider

    SG Credit Partners provided a $5 million acquisition financing to support an energy-focused holding company’s acquisition of an oilfield service provider.

    Second Avenue, White Oak Co-Agent $35MM Facility for Charming Charlie

    Second Avenue Capital Partners and White Oak Commercial Finance closed a $35 million asset-backed revolving credit facility for Charming Charlie, a Houston-based women’s specialty retailer.

    BB&T Cleared of Money Laundering Charges

    The Board of Governors of the Federal Reserve System has terminated its Cease and Desist Order with BB&T related to BB&T’s anti-money laundering (AML) program. No money laundering activity was identified and no financial penalty was levied in relation to this order.

    Recent Headlines

    JPMorgan Appoints Piepszak CFO; Lake Named CEO/Consumer Lending

    Wells Fargo Agents $1.3B Facility for Six Flags

    PNC Provides $45MM Revolver to AVENUE Stores

    Crestmark Provides $43.9MM+ to 78 Businesses in H1/April

    Jefferies Supports Thoma Bravo Acquisition of Ellie Mae