News

The Bon-Ton Stores filed voluntary petitions for a court-supervised financial restructuring under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware.

Responding to widespread consumer abuses and compliance breakdowns by Wells Fargo, the Federal Reserve said it would restrict the bank’s growth until it sufficiently improves its governance and controls.

As part of a Chapter 11 filing, Ceneveo completed DIP financing with Bank of America as administrative agent and collateral agent for a $190 million ABL faciity and $100 in term loan facility agented by the Wilmington Savings Fund Society.

Hovnanian Enterprises closed its previously announced financing transactions with GSO Capital Partners, Blackstone’s credit platform. The financing included a revolving credit facility of up to $125 million and a $132.5 million term loan.

The Siegfried Group promoted Sean Maffei to director in Siegfried's New York Metro Market.

Deloitte Corporate Finance acted as the exclusive financial advisor to Larry Methvin Installations on its sale to Patrick Industries, a manufacturer and distributor of building products.

Identiv amended its credit facility with East West Bank, increasing the line of credit to $12 million and adding a $3 million non-formula line of credit.

Altran completed the syndication of its €2.125 million ($2.65625 million) equivalent senior secured term loan B. Crédit Agricole, Goldman Sachs International and Morgan Stanley acted as mandated lead arrangers for the transaction.

Utica Leaseco completed a $600,000 capital lease for a Texas-based plastics manufacturer.

The 2018 Credit & Restructuring Summit will be held Thursday, March 22, 2018 at the Union League of Philadelphia.