CFO: JP Morgan Hedge Exposed the Bank to More Risk
In a feature story, CFO provides insights into how JPMorgan’s experience with a $2 billion trading miscue provides a lesson in how not to protect against potential losses.
In a feature story, CFO provides insights into how JPMorgan’s experience with a $2 billion trading miscue provides a lesson in how not to protect against potential losses.
On Assignment announced the completion of its acquisition of Apex Systems. In connection, On Assignment obtained a new $540 million senior secured credit facility from Wells Fargo Bank, Bank of America Merrill Lynch and Deutsche Bank Trust Company Americas.
Babson Capital Management announced it provided $18.4 million of subordinated notes and $1.5 million of equity to support The Riverside Company’s investment in The Baby Jogger Company.
GE Capital, Franchise Finance provided a $4.1 million credit facility to Hinz JJ, a Jimmy John’s franchisee. The financing included $2.6 million to refinance debt and a $1.5 million development line of credit.
GE announced that GE Capital has declared a quarterly dividend of $475 million payable to its parent in the second quarter. GE also said GE Capital plans a $4.5 billion special dividend to GE in 2012.
Oxford Finance announced that it participated in the issuance of a senior secured credit facility for Linden Capital Partners that was used to acquire SeraCare Life Sciences.
The Export-Import Bank has approved a guarantee of a $350 loan facility to provide funds to assist Textron in financing the exports of its Cessna aircraft and Bell Helicopters. PNC was the facility lender with a guarantee from Textron Financial.
In an opinion piece appearing on CFO.com, Scott Berquist at Silicon Valley Bank notes leverage can be a powerful tool, but optimizing its application requires some calculus of cost versus benefit.
Travelers Capital arranged a $26 million senior secured credit facility to fund construction for Riverbank projects in Oregon and Montana. Travelers structured and arranged the senior secured project financing consisting of a construction loan followed by a 20-year term loan for each of the two projects.
Topspin LBO and AUA Private Equity have invested in Brighter Dental Care, a regional dental practice management company that operates and manages seven affiliated dental practices in New Jersey. Topspin LBO led the investment in BDC.