Default-Swap Volumes Complicate Caesars Turnaround
Bloomberg announced Caesars Entertainment’s ability to negotiate a debt exchange that keeps it out of bankruptcy is being complicated by a surge in credit-default swaps.
Bloomberg announced Caesars Entertainment’s ability to negotiate a debt exchange that keeps it out of bankruptcy is being complicated by a surge in credit-default swaps.
American Capital announced the closing of a $750 million senior secured revolver, provided by Bank of America. The facility matures in June 2016.
Charles & Colvard said it has closed a new $10 million asset-backed credit facility with Wells Fargo. The company’s previous facility with PNC was terminated concurrent with the closing of the new facility.
CAS Medical Systems announced it entered a loan and security agreement with GE Capital Healthcare Financial Services. GE Capital is providing the company with a secured term loan of $7.5 million and a revolver up to $2.5 million.
BMO Harris Bank’s Sponsor Finance group was sole lead arranger, sole bookrunner and administrative agent for $40.3 million in senior credit facilities to Equian.
CIT Group announced it arranged a senior secured credit facility to support Levine Leichtman Capital Partners’ acquisition of Syntron Material Handling. CIT Corporate Finance served as lead arranger and administrative agent.
MidCap Business Credit announced it completed a $2 million ABL to J-PAC.
The Wall Street Journal reported that internal memos reveal Wells Fargo & Co. is making some changes to its capital finance team in an effort to expand the business.
Victory Park Capital announced it named Jason Brown as partner. Brown, a 20-year financial services veteran will lead the firm’s new Los Angeles office.
Exide Technologies announced it received a non-binding proposal for a plan of reorganization from the Unofficial Committee of Senior Secured Noteholders.