NN completed a new financing with J.P. Morgan, Oaktree Capital Management and Morgan Stanley Tactical Value to provide a $50 million asset-based credit line, a $150 million term loan and a $65 million preferred stock issuance, respectively.
Global Eagle Entertainment completed the sale of substantially all of its assets to a group consisting of its first lien investors. Global Eagle’s new owners include certain funds managed by affiliates of Apollo Global Management, among others.
Wells Fargo has entered into a definitive agreement to sell its Corporate Trust Services (CTS) business to Computershare. The transaction, expected to close in the second half of 2021, has a purchase price of $750 million.
CohnReznick added Karen Nevins to the firm as head of strategic growth and marketing for its transactions and turnaround advisory practice. Nevins has more than 20 years of professional services and high-tech marketing, sales and business development experience.
Context Business Lending increased its warehouse line by adding Texas Capital Bank as joint lead arranger to its warehouse facility led by CIBC Bank USA as agent.
Express Trade Capital completed a $9.7 million standby letter of credit (SBLC) facility. The facility fueled a commodity trader’s purchase of petroleum from a Canadian supplier.
Amerisource Business Capital closed and funded a $12 million senior credit facility for a California-based distributor of construction materials. The distributor used the proceeds to provide additional growth capital.
TAB Bank provided a $5 million rediscount credit facility for a trucking factoring company based in Michigan.