Facebook Unveils $6.5 Billion Revolver with JPM Led Group
Facebook announced it entered into a revolving credit facility, which allows it to borrow up to $6.5 billion, with a lender group led by JPMorgan Chase, as administrative agent.
Facebook announced it entered into a revolving credit facility, which allows it to borrow up to $6.5 billion, with a lender group led by JPMorgan Chase, as administrative agent.
Prospect Capital said it has increased total commitments to its five-year $650 million revolving credit facility by $15 million to $567.5 million in the aggregate.
The Pantry said it has completed the refinancing of its senior secured 2019 term loan. With lower interest rates, the company expects to reduce interest expense approximately $2.5 million on an annualized basis.
Increased exposure to floating-rate investments and generally heavy use of fixed rate funding has positioned U.S. business development companies (BDCs) well to adjust to the rising rate environment longer term, according to Fitch Ratings.
Regions Business Capital was said to have provided senior debt financing to support the acquisition of Imperial Group by private equity firm Wynnchurch Capital in partnership with BMO Mezzanine Fund and the management team.
PNC Bank announced the closing of $40 million in senior secured financing for Tranzonic. The funds were used for the acquisition of Tranzonic by Silver Oak Services.
Atherio secured a multi-million dollar credit facility with SunTrust Bank, which will fuel the company’s growth plans for next year.
Level 3 Financing refinanced its $815 million tranche B term loan. Additionally, Bloomberg reported that a syndicate of banks, including BofA, are said to be arranging a more than $5 billion term loan for the company.
Victory Park Capital announced it has funded newly-launched portfolio company Enteris BioPharma, a maker of oral delivery peptides and small molecule therapeutics.
Crestmark announced that it created a new division called Crestmark Trade Services. In conjunction with the change, Crestmark promoted Jason M. Golberg, Mindy Spiroch and Kalli Perez.