News

Cloud Peak Energy amended its credit agreement with a bank group led by PNC as administrative agent, reducing the capacity of the facility to $150 million from $400 million.

Financial Executives International’s NYC chapter elected a new president, a new vice president of sponsorship and three new directors. _x000D_ _x000D_ _x000D_

Erika R. Schulz has joined the Blank Rome’s Los Angeles office as an associate in the Corporate Litigation group._x000D_ _x000D_

The Office of the Comptroller of the Currency is now urging U.S. banks to provide more “short-term, small-dollar loans,” Reutersreported.

Time reported that Spangler, a family-owned candy company that makes Dum Dum lollipops, outbid three rivals to purchase the bankrupt New England Confectionary Company, known for Necco wafers and Sweetheart Valentine candies.

Earthstone Energy upsized its senior secured revolving credit facility from $185 million to $225 million and lowered its interest rate by 50 basis points. Bank of Texas served as administrative agent.

CIT Group’s Franchise Finance team, part of CIT's Business Capital division, closed a $25 million loan to La Palma, CA-based Friendly Franchisees.

Reuters reported both the U.S. Federal Reserve and Bank of England urged global financial markets to increase their efforts to replace LIBOR with alternative interest rate benchmarks._x000D_ _x000D_ _x000D_ _x000D_

Elements Behavioral Health will execute an asset purchase with a group of its first lien lenders. To facilitate the sale, the company has filed Chapter 11 in the District of Delaware.

Access Capital provided a $500,00 credit line to a woman-owned venture, Point Solutions Group.