WSJ: JPMorgan Leads Taiga Expanded Facility
The Wall Street Journal reported that Taiga Building Products announced it renewed and increased its revolver to $225 million with a syndicate of lenders led by JPMorgan Chase Bank.
The Wall Street Journal reported that Taiga Building Products announced it renewed and increased its revolver to $225 million with a syndicate of lenders led by JPMorgan Chase Bank.
Hertz Global Holdings announced Barclays Capital and J.P. Morgan acted as joint lead bookrunners for a transaction in which Hertz Fleet Lease Funding issued $500 million in asset-backed notes.
The FDIC said U.S. banks’ profits declined in Q3/13 from a year earlier, attributable to a “$4 billion increase in litigation expenses at one institution” and overall lower revenue from reduced mortgage activity.
Despite fallout from the financial crisis and pressure to comply with new Basel III rules, U.S. large corporate banks remain intact, according to a Greenwich Associates report. J.P. Morgan is at the market helm.
Green Dot Corporation said its subsidiary bank, Green Dot Bank, received regulatory approvals to acquire the Walmart MoneyCard Portfolio from GE Capital Retail Bank.
The Commercial Finance Association announced its officers and Executive Committee for 2013-2014.
Bloomberg reported that according to NY Fed general counsel, Thomas Baxter, bank culture has gone awry as financiers focus on transactions instead of customers, and punishment is one way to fix it.
Durkin Group announced that Kevin P. Durkin received the Commercial Finance Association’s 2013 Harry H. Chen Memorial Instructor Award for Excellence.
Bloomberg reported the U.S. government claims in a federal court filing Wells Fargo Vice President Kurt Lofrano played a “critical role” in helping the bank hide fraudulent home loans; lawyers for the U.S. asked a judge to add Lofrano to the government’s fraud suit.
Dresner Partners recently advised MacLean-Fogg Company on its issuance of $100 million of senior subordinated debt to Ares Capital.