BOM Agents Element Financial $585M Revolver
Element Financial closed a new $585 million senior revolving credit facility to fund the company’s planned origination activity into 2014. Bank of Montreal acted as administrative agent.
Element Financial closed a new $585 million senior revolving credit facility to fund the company’s planned origination activity into 2014. Bank of Montreal acted as administrative agent.
Main Street Capital announced the expansion of total commitments under its credit facility from $372.5 million to $382.5 million. The company said the increase resulted from the addition of a new lender relationship.
GE Capital, Franchise Finance announced it has loaned $6.5 million to Wright Investment Properties. The funds will be used to refinance a Memphis-based Residence Inn.
Republic Business Credit said it received an additional $15 million in equity financing from its existing group of institutional investors.
MidCap Business Credit said it completed a $4 million asset-based credit facility to a supply, procurement and logistics provider located in the Northeast.
Private equity firms Aquiline Capital Partners and Genstar Capital Management announced the completion of the acquisition of Genworth Wealth Management for $412.5 million from Genworth Financial.
Bloomberg reported that JPMorgan, BofA, Barclays and Morgan Stanley will finance the cash portion of Verizon’s acquisition of Vodafone Group’s 45% stake in Verizon Wireless for $130 billion.
The Wall Street Journal reported that Bank of America is selling its remaining stake in China Construction Bank for up to $1.5 billion, exiting an investment it made in China’s second-biggest bank eight years ago.
Overland Storage extended the maturity date of its $8 million revolver into 2015 as it evaluates a merger idea involving another data storage provider proposed by a distressed-debt fund manager, The Deal reported.
The National Association of Credit Management said its Credit Managers’ Index report for August 2013 “bodes well for the coming months, with sales and collections performing strongly.”