CIT Group announced the pricing of a public offering of $1.75 billion and $1.25 billion of senior unsecured notes, due 2017 and 2022, respectively priced at par bearing interest rates of 4.25% and 5.00%.
Harris Williams announced the sale of Quality Synthetic Rubber, a provider of custom molded synthetic rubber components, to Lexington Precision, a portfolio company of Industrial Growth Partners.
The National Association of Credit Management reported that its Credit Managers’ Index reflects the grim reality of the economy of summer 2012. The NACM said the problems besetting the economy earlier in the year have not abated.
More than three-quarters of U.S. middle-market executives said their companies will make at least one capital goods acquisition of significant value over the next six to 18 months, according to Vince Belcastro, managing director and group head of CIT Capital Equipment Finance for CIT Group.
The pace of borrowing by small businesses took a sharp turn downward last month, indicating slow economic growth will continue for at least the next quarter, according to the June Thomson Reuters/PayNet Small Business Lending Index report.
TekLinks announced that Pamlico Capital has made a significant equity investment to acquire a majority interest in the company from Symmetric Capital and certain other shareholders.
Cronos Holding Company’s indirect wholly owned subsidiary, CRX Intermodal Bermuda, renewed its $1.215 billion warehouse credit facility with ING Bank, Deutsche Bank, Wells Fargo Bank, ABN AMRO Capital USA, Credit Suisse, Cayman Islands Branch, SunTrust Bank, Key Equipment Finance and EverBank Commercial Finance.
CIT Group has commenced an offering of senior unsecured notes due 2017 and senior unsecured notes due 2022 in a transaction registered with the SEC. The joint bookrunning managers for the offering are BofA Merrill Lynch, Deutsche Bank Securities, Goldman, Sachs & Co. and J.P. Morgan.
Golub Capital, as administrative agent, announced that it provided a senior debt facility to support the acquisition of Global Claims Services by Windjammer Capital Investors.
LLR Partners and WellPoint announced a growth capital investment in Physicians Immediate Care, a provider of management services to 20 independently owned medical clinics in Illinois, Nebraska and Oklahoma.