WSJ: U.S Seeks $864MM from BofA Over ‘Hustle’ Loans
The Wall Street Journal reported that the U.S. government is seeking $864 million in penalties from Bank of America over a loan production program called the “Hustle.”
The Wall Street Journal reported that the U.S. government is seeking $864 million in penalties from Bank of America over a loan production program called the “Hustle.”
Fortescue Metals Group announced that Credit Suisse and JP Morgan have amended its senior secured credit facility.
Innovative Composites International announced it closed on its previously announced line of credit financing with mBank of Michigan in the amount of $1.5 million.
Hudson Valley Bank announced the launch of an asset-based lending group that will be led by Mark Fagnani, who was previously managing director and chief credit officer of Wachovia Capital Finance.
Bloomberg reported that a former JPMorgan banker who managed Bernard Madoff’s account said Madoff was set to get a $200 million loan less than a month before his arrest if the request hadn’t been dropped.
NXT Capital’s Venture Finance Group released its inaugural edition of the NXT Capital Venture Debt Index. The index confirmed venture debt’s increasing popularity as an alternative financing source for later-stage companies seeking growth capital.
Bloomberg reported that Mohegan Tribal Gaming Authority set the rate it will pay on a $730 million term loan to refinance debt.
RMP Trade Credit said it closed three purchase order facilities for importers totaling $4.45 million.
ShapeUp announced it raised $7.5 million in new funding, comprised of $5 million of equity from venture capital firms Cue Ball Capital and Excel Venture Management and $2.5 million of debt from Silicon Valley Bank.
First Internet Bank of Indiana announced the expansion of its commercial lending capabilities through an asset-based lending line of business. Gregg Corey and Jennifer Eller joined the bank to lead the new initiative.