Archives for March 2013

WFCF, Merrill, J.P. Morgan Arrange Kraton Refinancing

Kraton Performance Polymers said it closed an aggregate $250 million of revolving credit facilities. Wells Fargo Capital Finance, Merrill Lynch and J.P. Morgan Securities served as joint lead arrangers and joint book managers.

Regulators Issue Updated Leveraged Lending Guidance

Federal bank regulatory agencies released updated supervisory guidance on leverage lending, which has been increasing since 2009 after declining during the financial crisis.

Deutsche Bank, Others Reprice Bloomin’ Brands Term Loan

Bloomin’ Brands subsidiary OSI Restaurant Partners intends to seek a repricing of its existing $1 billion senior secured term loan B. Deutsche Bank Securities and Merrill Lynch will act as joint lead arrangers.

U.S. Bank Amends Inventure Foods Credit Agreement

Inventure Foods announced it extended the term of its credit agreement with U.S. Bank. The amended revolving credit facility sets a maximum available credit limit of $30 million for the full term.

BancorpSouth Creates Mississippi Loan Pool Initiative

BancorpSouth said it has created the “Grow Mississippi” 2013 loan pool to help support the state’s efforts in soliciting and encouraging business expansion and job creation for Mississippi.

Bankruptcy Court Approves Journal Register Sale

Digital First Media announced the U.S. Bankruptcy Court for the Southern District of New York granted final approval for the sale of the assets of Journal Register Company and its affiliates to 21st CMH Acquisition Co.

Grant Thornton Adds Simon, Maupin to CARS Group

Kenneth Simon and Ryan Maupin joined Grant Thornton’s Corporate Advisory & Restructuring Services as managing director and director, respectively. Simon joined from Loughlin Management. Maupin is rejoining Grant Thornton from KPMG’s Special Situations Advisory group.

PNC Provides $30MM Financing for Heniff Transportation Systems

PNC provided $30 million in senior secured revolving credit for Heniff Transportation Systems. Heniff delivers liquid bulk chemicals throughout the continental U.S. and Canada.

BofA Merrill Lynch, Others Close Facility for MoneyGram

MoneyGram International completed a private placement of a new $975 million senior secured credit facility. BofA Merrill Lynch and Wells Fargo Securities served as joint lead arrangers.

PNC Lowers Ferro Revolving Loan Commitment

Ferro Corporation amended its existing senior credit facility, with PNC Bank serving as administrative agent and collateral agent. The company’s revolving loan commitment was reduced from $350 million to $250 million.