According to a FTI Consulting study, 53% of bank and non-bank lenders in the U.S. market viewed COVID-19 as an event more significant than global financial markets were expecting, and 19% viewed it as capable of triggering a global recession.
Amerisource Business Capital closed and funded a $5 million credit facility for a steel fabricator based in Montana. The proceeds were used to refinance existing bank debt and to support growth.
Randall Haney joined Tech Capital, the asset-based finance subsidiary of Tech CU, as vice president of business development. Haney previously worked at CBC Business Credit, Far West Capital, Austin Financial Services, Crestmark Bank, Greystone Commercial Services and Wells Fargo Bank.
According to an 8K filed with the SEC, Deutsche Bank, Bank of America, Credit Suisse, Truist Bank, Wells Fargo Bank, Fifth Third Bank, HSBC Bank USA and MUFG Bank upsized Marriott Vacations Worldwide’s warehouse credit facility to $531 million.
The American Bankruptcy Institute will host four webinars during the next week with a focus on the Coronavirus Aid, Relief, and Economic Security Act and the Small Business Reorganization Act of 2019. The first webinar will take place on April 3.
Bank of America Securities and MUFG Bank acted as joint lead arrangers and joint bookrunners on a new $425 million secured credit facility for Edgewell Personal Care.
Steve Karpenko will rejoin Trimingham as a managing director in the firm’s Short Hills, NJ office. Karpenko spent the past eight years in supply chain management in the private sector.
Capital One closed a new four-year credit agreement for Legacy Housing, increasing the company’s borrowing base from $45 million to $70 million.
Bank of America Securities served as sole bookrunner and joint lead arranger for a renewed $420 million credit facility for McGrath RentCorp.
CIT Group provided financing for Aria Designs to help it procure millions of advanced N95 surgical masks that will protect medical professionals battling the COVID-19 pandemic.