August 22, 2019

Fifth Third Adds Gruebele to San Francisco Team

Peter Gruebele has joined Fifth Third Bank as senior vice president and San Francisco market executive.

Triple Five Pledges Mall of America as Collateral for American Dream Mall

The Wall Street Journal reported Triple Five Group, the owner of New Jersey’s American Dream Mall, still under construction, has pledged Minnesota’s Mall of America as collateral to its lender group led by JPMorgan.

Antares Leads Tinuiti Recap

Antares served as sole lead arranger and is acting as administrative agent for a senior secured credit facility to refinance existing debt of Tinuiti

Newbridge Adds A/R and ABL Financing to Services

Newbridge Global Sourcing has expanded its service offering to include accounts receivable financing and asset-based lending.

Great Rock Provides $37MM Term Loan to Oculus

Great Rock Capital closed a C$45 million ($37 million) senior secured term loan with Oculus Transport, headquartered in Calgary, AB.

Gibraltar Provides $13MM ABL to Home Furnishings Company

Gibraltar Business Capital provided a $13 million ABL facility to support a home furnishings company during a transition.

Siena Lending Closes $5.5MM Facility For Amfuel

Siena Lending Group closed a $5.5 million asset-based credit facility for Amfuel, which is scalable up to $8 million during the three-year term.

Shanahan Joins Citizens Retail Finance Group

Jason Shanahan joined Citizens Commercial Banking as a senior vice president and senior originator in the Retail Finance Group.

NXT Capital Supports Tenex Capital Acquisition of Big Bolt

NXT Capital provided a senior credit facility to support Tenex Capital Management’s acquisition of Big Bolt.

Amerisource Provides $3MM Facility to Dining Services Firm

Amerisource Business Capital closed a $3 million credit facility for a meal and dining services company based in Ohio.

August 21, 2019

Wells Fargo Overhauls Commercial Banking Division

Wells Fargo has made major changes to its leadership team and regional structure for its Commercial Banking business, led by Kyle Hranicky, a 25-year company veteran.

Citibank, JPMorgan Co-Agent $4.75B Revolver for Hewlett Packard

HP Enterprise entered into a $4.75 billion revolving credit facility with JPMorgan Chase Bank and Citibank as co-administrative agents.

CIT Names Robbins President of Asset Management

Philip Robbins joined CIT Group as the president of Asset Management and Capital Markets.

RBC Capital Markets Head McGregor Retires, Nelder to Succeed

Doug McGregor, group head, RBC Capital Markets and RBC Investor & Treasury Services, will retire on January 31, 2020 after 37 years at the bank. Derek Nelder will succeed him.

Bene joins AlixPartners as a Managing Director

Growth and operations expert George Bene has joined AlixPartners as a managing director in the firm’s global revenue and growth practice. He will be based in Boston.

White Oak Healthcare Supports CareMax Expansion

White Oak Healthcare Finance acted as sole lead arranger on the funding of a senior credit facility to finance the acquisition of New Life Health Group by CareMax Medical Group.

Tucker Named Bank of the Pacific EVP/CFO

Bank of the Pacific hired Carla Tucker as its new chief financial officer and executive vice president, succeeding Douglas N. Biddle who recently announced his retirement.

TAB Bank Closes $4MM ABL for Petroleum Company

TAB Bank provided a $4 million asset-based revolving credit facility for a Texas-based petroleum company.

Riverstone Provides $140MM Term Loan to Signet Maritime

Tugboat operator Signet Maritime closed a $140 million senior secured term loan facility with Riverstone Credit Partners.

InterNex Provides $250K Facility to Transportation Firm

InterNex Capital provided a $250,000 credit facility to an Illinois-based freight transportation company.

August 20, 2019

PNC Agents Up to $12MM DIP for AVENUE Stores

AVENUE Stores voluntarily filed for relief under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware. The company is pursuing this course of action to facilitate its transformation into an e-commerce-only platform.

Baker McKenzie Adds Silicon Valley M&A Lawyer King

Baker McKenzie has added M&A lawyer Leif King in Palo Alto, CA as the firm continues to rapidly expand its transactional practice within the Silicon Valley market and globally.

Capital One Arranges Facility for Canadian Biotechnology Company

Capital One acted as a joint lead arranger for a senior secured credit facility for STEMCELL Technologies, a Canada-based biotechnology and life science company.

Marsh Join Goodwin Life Sciences and Technology Practices

Capital Markets attorney Ben Marsh joined global law firm Goodwin’s Life Sciences and Technology practices as a partner in the New York office.

Old National Bank Taps Wilsdorf as St. Louis Region Market President

Veteran commercial banking executive David Wilsdorf has joined Old National Bank as St. Louis Region market president.

Capital One Acquires Investment Bank KippsDeSanto

Capital One entered into an agreement to acquire KippsDeSanto, an investment banking firm focused on serving growth-oriented aerospace/defense, government services and technology companies.

Baker Joins ENGS Commercial Capital

David Baker has joined ENGS Commercial Capital as vice president, business development officer.

Torian Capital Partners Provides $50MM Term Loan to iAnthus

iAnthus Capital Holdings entered into a term sheet for a senior secured term loan of up to $50 million from one or more investment funds managed by Torian Capital Partners.

Romeo Provides $3MM Upsize to Hudson Resources

Hudson Resources has entered into definitive agreements with its existing lender, Cordiant Capital, and its new lender, Romeo Fund – Flexi, to increase its credit facility by $3 million.

Versant Closes $3MM Factoring Facility for Packaging Company

Versant Funding closed a $3 million non-recourse factoring facility.

August 19, 2019

Sullivan Joins Phoenix Management Services

Phoenix Management Services has named Marc Sullivan as a managing director in the firm’s Atlanta office.

LIBOR at 50: The End is Near

International Banker reported that August 15, 1969, the opening day of Woodstock, was also the date that LIBOR was created. Now the global benchmark is approaching its final hour, but what will replace it?

Wells Fargo Agents $5.5B Facility for DaVita

DaVita has entered into a new $5.5 billion senior secured credit agreement with Wells Fargo Bank as administrative and collateral agent.

Mills Joins BMT Wealth Management as Chief Investment Officer

Jeffrey Mills has joined Bryn Mawr Trust’s wealth division as senior vice president and chief investment officer.

Grant Thornton Adds Weir to Public Sector Healthcare Practice

David B. Weir, Jr. has joined Grant Thornton’s Public Sector Healthcare practice as a managing director.

BofA Supports Quaker Chemical, Houghton Merger

Quaker Chemical and Houghton International have combined to create Quaker Houghton, a global leader in industrial process fluids to the primary metals and metalworking markets.

Oxford Finance Provides $7.5M Term Loan to MolecuLight

MolecuLight has secured a $7.5 million term loan from Oxford Finance, a specialty finance firm providing senior debt to life sciences and healthcare services companies.

Allcap Provides $1.5MM A/R Facility for Communications Company

Allcap closed a $1.5 million accounts receivable financing facility for a Florida-based company that designs and assembles communication systems for the government and large, commercial companies.

Iron Horse Credit Provides $5MM Facility to Electronics Wholesaler

Iron Horse Credit closed a $5 million stand-alone inventory facility for an electronic goods wholesaler.

Sands Cops 3rd TMA Award for Dorset Partners

Jeff Sands of Dorset Partners has been awarded his third consecutive Turnaround of the Year Award by the Turnaround Management Association.

August 16, 2019

Money Chest Agents $10MM DIP for Loot Crate

Loot Crate’s first day motions were approved on an interim basis by the U.S. Bankruptcy Court. The Court authorized interim approval of the company’s $10 million DIP financing.

Lozano Joins TAB Bank Business Development Team

TAB Bank has added Rocky Lozano to its business development team as vice president and business development officer.

Tiger Provides $10MM Term Loan for francesca’s

Retailer francesca’s entered into a second lien term loan credit agreement with Tiger Finance.

Tradewind Provides $1.4MM Facility to Kitchenware Company

Tradewind has provided a $1.4 million credit facility to a home fashion products company based in Shanghai that designs and sells kitchen utensils and home accessories to buyers located domestically and in the U.S. and Europe.

Funding Circle Surpasses $10B in Global Small Business Loan

Funding Circle has loaned more than $10 billion to small businesses globally through its platform in less than a decade.

Merino Joins Ankura as Senior Managing Director/Healthcare

Ankura has appointed Richard Merino as senior managing director.

Georgia Community Banks Clear Regulatory Hurdles for Merger

Heritage Bancorporation and Providence Bank have received regulatory approvals for their merger of equals as well as shareholder approval from each of the three organizations.

Crescent Provides Unitranche to Support Hanson Wade Acquisition

Crescent Capital Group has provided unitranche financing to support the acquisition of Hanson Wade by UK-based private equity firm Graphite Capital. Terms of the transaction were not disclosed.

CIT Arranges $60MM Facility for Partners Pharmacy

CIT Group’s Healthcare Finance unit has served as sole lead arranger on a $60 million senior secured credit facility to Partners Pharmacy.

August 15, 2019

Capital One Adds Schmill to Gov’t Contracting Banking Team

Larry Schmill has joined Capital One’s Government Contracting Banking Group as a managing director, Aerospace, Defense and Government Services, based in Los Angeles.

Axiom Bank Promotes Ocampo to Digital Banking Relationship Manager

Axiom Bank promoted Joshua Ocampo to digital banking relationship manager.

Winter Harbor Expands Boston Office With Wybolt Hire

Winter Harbor added Andrew Wybolt to its Boston team.

Crossroads Financial Provides $1.8MM Revolver for Shoe Retailer

Crossroads Financial provided a $1.8 million inventory revolving credit facility for a shoe retailer.

Fifth Third Launches Renewable Energy Investment Banking Group

Fifth Third Securities hired Timothy Beach, Ari Citrin and Oliver Janssen as managing directors to lead its new Renewable Energy Investment Banking Group.

Canadian Western Upsizes Delta 9 Facility to $18.1MM

Delta 9 Cannabis amended its borrowing arrangement with Canadian Western Bank to increase its existing loan and credit facility to approximately $18.19 million.

Desjardins Capital Provides $12MM Facility to Goodfood

Goodfood Market secured additional bank financing totaling $12 million, including a $7.5 million revolving credit facility, a $2.5 million delayed draw term loan and $2 million of other short-term financing with Desjardins Capital Markets.

Garris Joins BMT Wealth Management

Edward Garris has joined Bryn Mawr Trust as a vice president and wealth advisor. He will report directly to Senior Vice President and Wealth Director Mark Bradford and will be based out of the Berwyn, Pa. office.

BMO Upsizes Aurora Cannabis Facility to $280MM

Canada’s Aurora Cannabis is increasing the size of a secured credit facility to C$360 million ($280 million) from C$200 million ($150 million).

Huntington Provides Facility for First SOURCE Electrical

Huntington Business Credit closed a new credit facility with First SOURCE Electrical.

August 14, 2019

Santander Bank Adds Industry Veterans to ABL Team

Santander Bank has tapped Paul Cronin to lead its asset-based lending business in its Commercial Banking division. Arthur Pesavento will join the ABL group as senior vice president and business development officer.

BMO Provides $84MM Facility for Auxly Cannabis

Sunens Farms, a subsidiary of Auxly Cannabis, entered into a term sheet for a syndicated credit facility, with the Bank of Montreal as lead underwriter.

Rosenthal Provides $1MM Facility for Women’s Apparel Company

Rosenthal & Rosenthal completed a $1 million purchase order finance facility to support the production financing requirements of a women’s private label apparel company.

Grasshopper Bank Taps Shure as Global Head/Early-Stage Practice

Grasshopper Bank has appointed Jeremy Shure as its global head of Early Stage Practice.

Antares Supports Alpine Investors Formation of Apex Service Partners

Antares served as sole lead arranger and administrative agent for a senior secured credit facility to support Alpine Investors’ investment in Frank Gay Services and Best Home Services to form Apex Service Partners.

Capital One Tops List of Lead Arrangers for Healthcare Loans

Capital One Healthcare’s Corporate Finance group was the No. 1 lead arranger of healthcare leveraged loans by deal count for transactions up to $1 billion for the first half of 2019, according to league tables produced with data from Thomson Reuters

Credit Suisse Agents New $700MM Term Loan for UGI Energy

UGI Energy Services closed a new seven-year $700 million secured term loan B facility. Credit Suisse served as administrative agent.

BDO USA Acquires Loughlin Management

Accounting/advisory firm BDO USA has acquired Loughlin Management Partners, a boutique business advisory firm focused on corporate restructuring and turnaround services.

Credit Suisse Asset Management Upsizes GigNet Facility

Credit Suisse Asset Management has agreed to increase the funds available under a credit facility established one year ago for Cobalt Broadband Services, an operating subsidiary in Mexico of GigNet.

Amerisource Provides $2MM Facility for Medical Research Firm

Amerisource Business Capital closed a $2 million credit facility for a medical research and record retrieval company based in Texas.

August 13, 2019

Second Avenue, White Oak Close $16MM Revolver for Marolina Outdoor

Second Avenue Capital Partners and White Oak Commercial Finance have closed on a $16 million asset-backed revolving credit facility for Marolina Outdoor, a Charleston, SC based apparel company.

AlixPartners Adds Wood to M&A Team

AlixPartners has added Nick Wood as a managing director in its M&A Services practice in London.

CIT to Acquire Mutual of Omaha Bank

CIT Bank is acquiring Mutual of Omaha Bank for a purchase price of $1 billion.

Ortar Joins Austin Financial as VP, Portfolio Manager

Colton Ortar has joined Austin Financial Services’ portfolio team as vice president portfolio manager.

Siena Closes $14.6MM Facility for Innovative Hearth Products

Siena Lending Group completed a $14.6 million asset-based revolving line of credit and term loan for Innovative Hearth Products.

Crestmark Promotes Three in Transportation Finance

Crestmark’s Transportation Finance Division promoted Sherri Holmes and Kim Meek from account executives to portfolio management for the division and Phyllis Packard to vice president, legal compliance.

Baker Joins ENGS as VP, BDO

David Baker has joined ENG Commercial Capital as vice president, business development officer.

North Mill Acquires Factor Summit Financial Resources

North Mill Capital has acquired Summit Financial Resources, a provider of factoring services across the U.S.

Columbia Bank Provides $500K Revolver to Versus International

Verus International has signed a revolving line of credit with The Columbia Bank, a Fulton Financial affiliate.

Amerisource Provides $3.5MM Facility for Manufacturer

Amerisource Business Capital provided a $3.5 million credit facility to a specialty manufacturing company based in New York.

August 12, 2019

WSFS Agents $175MM DIP Facility for Sanchez Energy

Sanchez Energy and certain of its subsidiaries have voluntarily filed for reorganization under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas.

French National Indicted for Bank Fraud, Lying on Gov’t Loan Application

A Louisiana grand jury charged Giles Casse for filing false statements to obtain a government insured loan. He was also indicated for defrauding three U.S. banks for $6 million.

MidCap Business Credit Provides $5.5MM ABL to Mitchell Rubber

Midcap Business Credit closed a $5.5 million ABL facility for Mitchell Rubber Products.

SEC Votes to Modernize Disclosures Under Regulation S-K

The SEC voted to propose rule amendments to modernize the description of business, legal proceedings, and risk factor disclosures that registrants are required to make pursuant to Regulation S-K.

NBC Provides New $5MM Facility for D-Box

D-BOX Technologies has closed a loan agreement with the National Bank of Canada pursuant for a $5 million three-year secured revolving credit facility.

WSFS Bank Promotes Kueny to VP, Regional Manager

WSFS Bank promoted Charles Kueny to vice president, regional manager for the Northeast Philadelphia and Bucks County, PA region, where he will oversee sales and operations for 14 banking offices.

Opus Bank Appoints Cibik to Board, Schaffer Steps Down

Melanie S. Cibik has been appointed to Opus Bank’s board of directors. Concurrently, director Mark E. Schaffer voluntarily resigned from the board in accordance with the board’s retirement policy.

First Business Provides $6.1MM Facility to Door Manufacturer

First Business Capital closed a $6.1 million credit facility for a commercial door manufacturer located in Wisconsin.

Sallyport Provides $500K Facility to Demolition Company

Sallyport Commercial Finance closed a $500,000 accounts receivable facility for a construction clean up company.

Amerisource Closes $5MM Facility for Specialty Manufacturer

Amerisource Business Capital closed a $5 million credit facility for a manufacturing company based in Texas.

August 9, 2019

WFCF Agents $825MM ABL to Support Barnes & Noble Sale to Elliott

Wells Fargo Capital Finance acted as administrative agent, lead arranger and book runner for an $825 million asset-based credit facility in connection with the acquisition of Barnes & Noble by Elliott Advisors (UK).

BlackRock, KIRKBI, Other Provide $1.92B Debt for Merlin Buyout

Reuters reported three equity investors behind the £5.91 billion ($7.49 billion) take-private buyout of UK theme park and attraction operator Merlin Entertainments are also underwriting about £1.66 billion ($1.93 billion) equivalent debt.

JPMorgan Leads $400MM Facility for DoorDash

Bloomberg reported that food delivery service DoorDash is arranging a $400 credit facility led by JPMorgan ahead of its upcoming IPO.

JPMorgan Agents Diebold Nixdorf Extension of $787MM Facility

Diebold Nixdorf amended and extended the vast majority of its $787 million revolving credit facility and term A loans from December 23, 2020 to April 30, 2022.

Oxford Provides $75MM Facility for ObsEva

ObsEva closed a $75 million senior secured credit facility with Oxford Finance, a specialty finance firm that provides senior debt to life sciences and healthcare services companies.

Peko to lead Grant Thornton National Advisory Services Practice

Grant Thornton has named Jim Peko as the national managing principal of its Advisory Services practice.

Lendio Surpasses $1.5B in Small Business Loans Facilitated

Online loan marketplace Lendio has facilitated more than $1.5 billion in financing to small businesses across the U.S.

Bridge Bank Upsizes CytoSorbents Term Loan

CytoSorbents has received an additional $5 million in cash through an amended loan agreement with Bridge Bank’s Life Sciences Group.

Continental Provides $750K ABL Facility to Beverage Distributor

Continental Business Credit closed a $750,000 ABL facility to a Texas-based manufacturer and distributor of nutritional and supplement powders and beverages.

Access Capital Provides $1.5 Million Facility to JCW Search

Access Capital provided a $1.5 million credit facility to JCW Search.

August 8, 2019

Brigade, B. Riley Provide $218MM New Financing for Barneys

Barneys New York has secured approximately $218 million in new financing from Brigade Capital Management and B. Riley Financial to facilitate a going concern sale process.