News

JPMorgan Chase reported Q4/17 earnings of $4.23 billion were down 37% from $6.73 billion a year earlier. The bank noted the decrease included $2.4 billion of estimated net impact of the Tax Cuts and Jobs Act.

PNC reported full year 2017 net income of $5.4 billion was up from $4.0 billion a year earlier. The bank noted 65%, or $911 million, of the increase resulted from the impact of new federal tax legislation.

Wells Fargo reported 2017 net income of $22.2 billion was up from $21.6 billion a year earlier. The bank noted Q4/17 results included a $3.35 billion after tax benefit from the tax act.

Limbach Holdings entered into a credit agreement with Fifth Third Bank as administrative agent providing a new $10 million term loan.

Super G Capital provided a $2 million second lien working capital loan for a sponsor-backed provider of employee healthcare management services.

Mallinckrodt entered into an agreement to merge Sun Acquisition and Sucampo Pharmaceuticals. Deutsche Bank agented a $900 million revolving credit facility to support the transaction.

Specialty finance company Sallyport Commercial Finance and its employees supported the local Houston community by delivering gift cards to an elementary school that was severely impacted by Hurricane Harvey.

Monroe Capital acted as sole lead arranger and administrative agent on a $43.5 million senior credit facility to support Wentworth Management Services’ acquisition of Purshe Kaplan Sterling Investments.

Antares Capital served as administrative agent and lead left arranger on a senior secured credit facility to support Clearlake Capital Group’s acquisition of Perforce Software._x000D_

High Road Capital Partners completed the acquisition of U-C Coatings, with Madison Capital providing financing to support the deal.