News

According to the Fed, the nation’s largest banks are strongly capitalized and would be able to lend to households and businesses during a severe global recession.

Crestline Investors named Chris Semple a partner of the firm.

The Wall Street Journal reported that while the Fed has raised interest rates seven times, banks have not passed those increases on to their depositors, but are offering cash payment to new customers._x000D_ _x000D_ _x000D_

Wings Capital Partners closed a $500 million secured loan facility with a syndicate of six major international banks. Deutsche Bank acted as structuring agent on the transaction.

Pacific Mercantile Bank provided a $4.75 million commercial term loan credit facility to Fragrant Jewels.

Alderon Iron Ore and the Kami Mine Limited Partnership entered into an agreement with Sprott Resource Lending for a $14 million loan facility.

TCF Capital Funding provided senior secured financing to support River Associates Investments’ acquisition of Quikserv.

TAB Bank provided a $2.25 million asset-based revolving credit facility to a chemicals company located in Georgia.

Amerisource Business Capital provided a $1 million credit facility for a Texas-based oilfield tools and equipment company.

Shen Tan joined Lazard Asset Management as a managing director in Hong Kong. Tan will focus on distribution throughout Asia and help to develop the firms’ Asset Management business in the region.