November 15, 2019

Regions Bank SEVP Herron Retiring After 31-year Career

Keith Herron, senior executive vice president, head of Corporate Responsibility and Community Engagement at Regions Bank, will retire following a 31-year career at the bank.

BMO Agents $90MM Facility for Supreme Cannabis

Supreme Cannabis has entered into a credit agreement with Bank of Montreal as lead arranger and agent for $90 million in senior secured credit facilities consisting of a term loan of $70 million and a revolving credit facility of $20 million.

A&M Taps Whittman to Co-Head Midwest Restructuring & Turnaround Team

Alvarez & Marsal has appointed Chicago-based Managing Director Brian Whittman as co-head of the Midwest Region for its North American Restructuring & Turnaround practice.

Wells Fargo Names Taback CIO for Wealth Management

Wells Fargo has promoted veteran Adam Taback to chief investment officer for Wells Fargo Private Wealth Management, part of its Wealth & Investment Management business.

SunTrust Closes $60MM Facility for Electric Entertainment

SunTrust Robinson Humphrey served as sole lead arranger and SunTrust Bank as administrative agent in closing a $60 million syndicated corporate credit facility for Electric Entertainment.

Sterling Provides $60MM Facilities for Lincoln Educational Services

Lincoln Educational Services executed a new credit agreement with its current lender, Sterling National Bank, comprised of four separate facilities providing in the aggregate $60 million.

Cogent Bank Specialty Lending Tops $45MM in New Transactions

Cogent Bank’s Specialty Lending Group has closed more than $45 million of transactions involving new relationships thus far in 2019.

Schmitt Joins Skyway Capital Markets

Skyway Capital Markets, a Tampa, FL-based boutique investment banking firm, has hired Henry Schmitt as managing director.

SSG Advises Clarus Linen Systems Asset Sales

SSG Capital Advisors acted as the investment banker to Centerstone Linen Services d/b/a Clarus Linen Systems in the sale of its assets and multiple operations to Crown Health Care Laundry Services PureStar Linen Group, and Clean Textile Systems d/b/a CleanCare.

Monroe Capital Closes $454.35MM CLO

Monroe Capital closed a $454.35 million term debt securitization known as Monroe Capital MML CLO IX.

November 14, 2019

Schechter Joins Ares Management as Head of Credit Trading

Michael Schechter has joined Ares Management as partner and head of credit trading.

Rosenthal Provides $1MM PO Facility for Women’s Footwear Designer

Rosenthal & Rosenthal completed a $1 million inventory production finance deal for a well-known designer and importer of women’s footwear.

Ocean Bank Promotes Two Bankers to SVP/Corporate & Commercial Lending

Ocean Bank promoted two veteran bankers: Eddie Diaz has been named senior vice president and head of Corporate Lending, and Rogelio Villarreal was named senior vice president and head of Commercial Lending.

Cadence Upsizes Expedition Revolver to $100M

Expedition Water Solutions has expanded its revolving credit facility to $100 million. Cadence Bank served as lead arranger and administrative agent.

Bibby Names Barber Regional Sales Manager – East

Scot Barber joined Bibby Financial as regional sales manager – East.

Angelo Gordon Agents $100MM Term Loan for Abraxas

Abraxas Petroleum has entered into a $100 million senior secured second lien term loan facility with Angelo Gordon Energy Servicer.

Petrozzi Joins California Bank & Trust as Director/Fiduciary Banking

California Bank & Trust has appointed Phillip F. Petrozzi, a banking industry leader of more than 35 years, to the post of executive vice president and director of Fiduciary Banking.

CIBC Provides $16MM Facility for Madwire

CIBC Innovation Banking completed two separate transactions totaling $16 million for Madwire, a Fort Collins CO-based technology company.

Tradewind Closes $2.5MM Facility for Sustainable Homewares Firm

Tradewind has closed a $2.5 million trade finance facility for a company based in China and the U.S. that sells sustainable, ecologically sourced, and manufactured homewares.

Intelsat Provides $50MM Facility to BlackSky

BlackSky has secured a $50 million senior secured loan from global satellite communications leader, Intelsat.

November 13, 2019

Rabobank Leads $850MM DIP Facility for Dean Foods

Dean Foods and substantially all of its subsidiaries have initiated voluntary Chapter 11 reorganization proceedings in the Southern District of Texas.

McShane Named Head of Wells Fargo Commercial Real Estate

Kara McShane has been named head of Wells Fargo Commercial Real Estate within the company’s Wholesale Banking group. She will assume this role upon Mark Myers’ retirement in February.

Fifth Third Business Agents $8MM Facility for Troy Lee Designs

Fifth Third Business Capital acted as sole lender and administrative agent on the funding of an $8 million senior credit facility to Troy Lee Designs.

Encina Provides $15MM Revolver To Coal Mining Company

Encina Business Credit has provided a $15 million commitment as part of a $135 million senior secured credit facility to a coal mining company.

Briar Capital Provides $4.785MM Term Loan to Fashion Wholesaler

Briar Capital Real Estate Fund has provided a $4.785MM real estate term loan to a fashion products wholesaler located in Tampa, FL.

Pacific Western Provides Facility for FirstClose

FirstClose completed a credit facility with Pacific Western Bank.

LBC Small Cap Supports Astar Acquisition of Auchinachie

LBC Small Cap, an affiliate of LBC Credit Partners, provided a senior secured term loan and equity co-investment to support the acquisition of Auchinachie by Astar Heating & Air, a portfolio company of Dubin Clark.

Bernstein Joins Change Capital as General Counsel

Scott H. Bernstein joined Change Capital as senior vice president and general counsel.

J D Factors Closes Eight Deals Totaling $2.625MM

J D. Factors completed eight factoring facilities for companies in the U.S. and Canada.

SG Credit Partners Adds Bridge Loan Product

SG Credit Partners launched an interest-only bridge loan product designed to provide a liquidity solution for asset-rich, liquidity-constrained entrepreneurs.

November 12, 2019

Rosenthal Expands Southeast Sales Team

Rosenthal & Rosenthal appointed Leigh Lones as senior vice president, Southeast Regional sales manager, and Al Foster as vice president, business development officer.

BFS Capital Taps Simmons as Chief Operating Officer

BFS Capital has appointed Brian Simmons as chief operating officer.

Bridgewater Bank Launches Equipment Finance Sector

Twin Cities-based Bridgewater Bank has launched Bridgewater Equipment Finance.

Preston Hollow Expands Originations & Asset Management Teams

Preston Hollow Capital expanded its Originations and Asset Management groups with the addition of Ryan Chiriboga, Patrick Allen and Michelle Harris.

Wells Fargo Agents $440MM Facility for MarineMax

MarineMax has expanded its financing facility to provide for borrowings of up to $440 million from the previous limit of $400 million.

Capital Southwest Supports Five Points Recap of GrammaTech

Capital Southwest provided a revolving line of credit, a first lien term loan, and made an equity co-investment to support Five Points Capital recapitalization of GrammaTech.

Raymond James Adds Kim to Health Care Investment Team

Raymond James has hired experienced finance professional James Kim as managing director in the firm’s Health Care Investment Banking practice.

Austin Provides $3MM Revolver to Telecommunications Company

Austin Financial Services closed a $3 million ABL credit facility for a telecommunications company.

PNC Provides $100MM Revolver to Ferroglobe

PNC Bank closed a $100 million revolving credit facility for Ferroglobe.

UMB Capital Finance Closes Two ABL Financings

UMB Capital Finance, through Marquette Business Credit, closed asset based credit facilities for Midwest Quality Gloves and TJ Hale.

November 11, 2019

Barclays, Citi, Deutsche Amend American Airlines $2.842B Facilities

American Airlines entered into amendments to three credit agreements with Barclays, Citibank and Deutsche Bank as administrative agents

UBS Fined for Misleading & Overcharging Clients for a Decade

The Wall Street Journal reported Hong Kong’s security regulators have charged UBS with misleading wealthy clients for a decade and fined the bank HK$400 ($51 million) and demanded HK$200 ($26) million in customer compensation.

KeyBank Upsizes CoreSite Facility to $1.15B

CoreSite has extended its debt maturity profile and expanded its credit facility with total borrowing capacity of $1.15 billion, including all arrangements with its syndicate of banks.

City National Bank Appoints Hariman to Succeed Beale as CIO

Rick Hariman will join City National Bank as executive vice president and chief information officer, succeeding John Beale, who is retiring in January after 23 years with the bank.

KeyBank Agents $660MM Facility for RPT Realty

RPT Realty amended its $660 million credit facility, an increase of $100 million over the company’s prior credit facilities

Engler Named New SVP Member Service & Operations at TopLine

TopLine Federal Credit Union hired Kent Engler as the senior vice president of Member Service and Branch Operations.

Alberta Treasury Leads Delphi Energy Recap

Delphi Energy has renewed the borrowing base of its senior credit facility led by Alberta Treasury Branches has been renewed at $80 million.

Woodsboro Bank Taps Francisco as VP, Promotes Ramsay & Simmons

Shelane Francisco has joined Woodsboro Bank as vice president, branch manager of the downtown branch. The bank also promoted Thomas Ramsay to VP/branch channel leader and Angela Simmons to branch manager.

J D Factors Completes Seven Transactions Totaling $4.175MM

J D Factors completed seven factoring facilities for a total of $4.175 million.

Brownstein Named American Bar Foundation Fellow

Brownstein Corporation CEO Howard Brod Brownstein has been named a Fellow of the American Bar Foundation.

November 8, 2019

Ankura, Barclays, Macquarie Support Bristow Group Exit from Chapter 11

Bristow Group has emerged from Chapter 11 bankruptcy protection, successfully completing its debt restructuring process and implementing the Chapter 11 reorganization plan confirmed by the U.S. Bankruptcy Court for the Southern District of Texas.

Fifth Third Business Capital Agents $9.4MM Facility for Amglo Kemlite

Fifth Third Business Capital acted as sole lender and administrative agent on the funding of a new $9.42 million senior credit facility to Bensenville, II-based Amglo Kemlite Laboratories.

Daley Joins Wells Fargo as Vice Chairman of Public Affairs

Wells Fargo named William M. Daley vice chairman of Public Affairs.

First Foundation Taps Mael to Launch Municipal Lending

First Foundation launched a municipal lending and public finance service offering with the appointment of Trevor Mael as vice president, director of Public Finance.

Bank of Southern California Names Perry MD/Business Banking

Troy Perry has joined the Bank of Southern California as managing director of Business Banking.

Industrial Bank Acquires City National Bank of New Jersey

Industrial Bank has acquired Newark-based City National Bank of New Jersey.

Lake City Bank Promotes Leniski to Head Retail Banking

Lake City Bank has promoted Stephanie R. Leniski to senior vice president, retail banking manager.

Utica Leaseco Completes Two Transactions Totaling $2.75MM

Utica Leaseco completed two transactions in November, 2019 totaling $2.75 million.

A&G Hires Hoffmann to Lead Restaurant Real Estate Division

Jeffrey K. Hoffmann has joined A&G Real Estate Partners as a senior managing director and head of the firm’s restaurant division.

JPMorgan Securities Leads $2.2MM Revolver for Globalworth

Globalworth has entered into a new €200 million ($2.2 million) revolving credit facility with a syndicate of its relationship banks and selected new lenders.

November 7, 2019

NBC Upsizes Fairstone Financial Revolver to $1.85B

Fairstone Financial completed an optimization of its three-year revolving credit facility provided by a banking syndicate, comprised of leading Canadian and international banks.

Nay, Smith Join MidCap Business Credit

MidCap Business Credit has appointed Bill Nay as senior vice president to its business development team and Rebecca Smith as senior vice president to its risk team as an underwriter.

Golub Agents $1.6B Unitanche to Support Risk Strategies Refi

Golub Capital acted as the administrative agent on a $1.6 billion GOLD facility to support the refinancing of Risk Strategies, a portfolio company of Kelso & Company.

Orion Provides $200MM Facility to FuelCell Energy

FuelCell Energy completed a new, eight-year $200 million strategic corporate loan facility with Orion Energy Partners.

U.S. Bank Hires Luke as Head of AI

U.S. Bank has hired technology leader Tanushree Luke, PhD, to lead Artificial Intelligence (AI) efforts at the company.

Harbert Provides $5.54MM Term Loan to Novacyt

Novacyt has obtained a €5 million ($5.5 million) four-year term loan from Harbert European Growth.

SunTrust Agents Upsize of ATSG Revolver to $750MM

Air Transport Services Group has extended its senior secured credit facility until November 30, 2024, expanded the facility’s revolver portion, consolidated and lowered its term loans, and reduced pricing to immediately lower interest cost.

Spirit of Texas Completes Acquisition of Chandler Bancorp

Spirit of Texas Bancshares, the holding company for Spirit of Texas Bank, completed its acquisition of Chandler Bancorp and its subsidiary, Citizens State Bank.

TAB Bank Provides $3MM ABL to Commercial Printer

TAB Bank provided a $3 million asset-based revolving credit facility for a commercial printing company in Illinois.

Citizens Provides $138 million loan to DSC Partners

Citizens Commercial Banking provided a $138 million loan to Washington, D.C.-based DSC Partners for the acquisition of 28 office and industrial buildings in Montgomery County, MD.

November 6, 2019

Wingspire Capital Launches Diversified ABL Platform

Wingspire Capital Holdings has launched as an independent diversified direct lender focused on providing ABL financing and related senior secured loans to U.S.-based middle market borrowers.

Wells Fargo Upsizes Siena Facility to $312MM

Siena Lending Group increased its senior credit facility with Wells Fargo Bank to $312.5 million.

Grant Thornton Taps Preber as CEO

The Partnership Board at Grant Thornton has appointed Bradley J. Preber as the firm’s CEO.

October Commercial Chapter 11 Filings Increase 25%

Commercial Chapter 11 filings increased 25% in October 2019 over the previous month, according to data provided to the American Bankruptcy Institute by Epiq Systems.

CIT Agents $80MM Revolver for AerFin Holdings

CIT Group’s Aerospace, Defense and Government Services business served as administrative agent, security agent and lead lender on an $80 million senior secured revolving credit facility for AerFin Holdings.

Carrus Joins Heritage Global Valuations

Heritage Global Valuations added Derek Carrus to its valuation team. Mr. He will be based in Heritage’s Boca Raton, FL office.

Crestmark Completes $34.3MM in Financing in H2/October

Crestmark provided more than $34.3 million in commercial financing to 99 businesses in the second half of October 2019.

John Marshall Bank Promotes Estep to Regional Executive

John Marshall Bank promoted James Estep to regional executive in Fairfax, VA.

RBC Agents $275MM Revolver for US LBM

US LBM Holdings has amended its revolving credit facility. Royal Bank of Canada served as administrative agent for the transaction.

A&M Expands Healthcare Compliance Advisory Services

Alvarez & Marsal has expanded its Healthcare Compliance Advisory services with the appointment of Colleen Curran as managing director and Mary Findley as senior director.

November 5, 2019

Wells Fargo Names Kennedy Head of Business Continuity & Resiliency

Christel Kennedy has joined Wells Fargo as head of Business Continuity and Resiliency, reporting to Saul Van Beurden, head of Technology.

BofA Agents $2.5B Revolver for Equity Residential

Equity Residential has entered into a $2.5 billion multi-currency revolving credit facility, replacing its existing $2.0 billion credit agreement.

NBC Provides $4MM Facility for Fintech VersaPay

VersaPay closed a $4 million credit facility with National Bank of Canada’s Technology and Innovation Banking Group.

Opus Bank Taps Fanter as Head of Retail Banking

William D. Fanter has joined Opus Bank as executive vice president, head of Retail Banking.

Capital One Provides $285MM Bridge Loan for Senior Housing

Capital One closed a $285 million bridge loan to refinance a portfolio of 13 senior living communities owned by Prime Care.

UMB Capital Adds Motl to Lead ABL Team

Doug Motl has joined UMB Capital Finance as senior vice president, director of Originations.

JPMorgan Upsizes Contango Oil & Gas Facility to $145MM

Contango Oil & Gas has completed its acquisition of certain assets from White Star Petroleum and certain of its affiliates for a total purchase price of $132.5 million and expanded its senior credit facility to $145 million.

Calfee, Halter Hires Bankruptcy & Restructuring Attorney Schwartz

H. Jeffrey Schwartz has joined the law firm Calfee, Halter & Griswold as partner and co-chair of Calfee’s Business Restructuring and Insolvency practice group.

FSW Funding Hires Augustniak and Klein

FSW Funding has hired Griffin Augustniak as a portfolio analyst and Cynthia Klein as a business development officer.

North Mill Provides $750K A/R Facility to Aqua Green

North Mill Capital provided a $750,000 accounts receivable facility to Aqua Green.

November 4, 2019

Citi Commercial Bank Taps Stanton to Head UK Operations

Citi has appointed Bill Stanton as head of its UK Commercial Banking business and added four new hires to strengthen the team.

JPMorgan Agents $2B ABL Facility for U.S. Steel

U.S. Steel closed a $2 billion ABL facility with JPMorgan Chase serving as administrative agent.

Atlantic Union Names Zimmerman Middleburg Financial President

Atlantic Union Bank has named David Zimmerman Middleburg Financial president.

Quade Joins First Business as Deputy Chief Credit Officer

First Business Financial Services hired Brad Quade as deputy chief credit officer.

BNY Mellon Agents $800MM Term Loan for Grupo Gerdau

Grupo Gerdau secured a $800 million credit facility. BNY Mellon served as administrative agent for the transaction.

Wilmington Trust Appoints Pashley as UK Head of Structured Finance

Wilmington Trust has appointed Alex Pashley as head of Structured Finance in the UK.

Davydov Joins Gemino Healthcare Finance

Karina Davydov has joined Gemino Healthcare Finance and will also be working with North Mill Capital.

Citi Agents $1.905B Revolver for Toll Brothers

Toll Brothers entered into a five-year $1.905 billion revolving credit facility to replace the company’s existing $1.295 billion revolving credit facility, which was scheduled to mature in May 2021.

FNB Provides $13.5MM Facility to MedShift

MedShift closed a new $13.5 million credit facility with First National Bank (FNB).

Key Energy Closes Forbearance Agreements with Term Loan & ABL Lenders

Key Energy Services elected not to make a scheduled interest payment due October 18, 2019 under the term loan and security agreement dated December 15, 2016 with Cortland Products as agent and its ABL agreement with Bank of America as administrative agent.