Archives for April 2015

Bank of America Provides Lumber Liquidators ABL

Lumber Liquidators entered into an agreement with Bank of America for a senior secured $100 million asset-based revolver.

KeyBank Agents IBP $200MM Facility

Installed Building Products entered into a new five-year, $200 million senior facility. KeyBank served as administrative agent.

GE Limits Sponsored Finance Bidders to 12

According to Reuters, General Electric has sent out nondisclosure agreements to 12 potential bidders of its sponsored finance business, which includes Antares.

Newtek Hires Taylor as President/COO

Newtek Business Services hired Gary T. Taylor as president and COO of Newtek Business Credit, a wholly owned portfolio company.

Square 1 Provides InDemand Facility

Square 1 Bank provided a $3 million facility to InDemand Interpreting, a leading video remote interpreting provider for the healthcare industry.

Monroe Expands Luxury Optical Facility

Monroe Capital increased the credit facility to Luxury Optical Holdings to support continued growth of the business.

Bloomberg: Appetite for Economic Risk-Taking Remains Low

Bloomberg notes in a report on a recent FOMC statement that the appetite for economic risk-taking of U.S. companies remains low, particularly when it comes to investing in new production capacity and equipment.

Economy Stalled in Q1, Odds against June Rate Increase

The Bureau of Economic Analysis said real GDP increased in Q1/15 at an annual rate of 0.2% vs 2.2% in Q4/14. According to RTT News, the odds are against the Fed announcing an interest rate increase in June.

OnDeck Expands into Canada

On Deck Capital expanded its small business lending services into Canada.

Japanese M&A Overseas Surges

Japanese buying of overseas assets reportedly is running at a record pace this year, even as the yen falls to its lowest levels since 2007.