Summit Partners Raises $1B for Second Credit Fund
Summit Partners announced it raised $1 billion for its second credit fund, Summit Partners Credit Fund II, to address the borrowing needs of growing middle market companies.
Summit Partners announced it raised $1 billion for its second credit fund, Summit Partners Credit Fund II, to address the borrowing needs of growing middle market companies.
Branch Banking & Trust (BB&T) Commercial Finance announced it closed $44.5 million in large commercial deals in the month of June.
Golub Capital announced that as joint lead arranger, joint bookrunner and administrative agent, it provided a $330 million senior credit facility to support the refinancing of ILC Industries.
Bank of America reported second-quarter 2013 net income rose 63% to $4.0 billion from $2.5 billion in the same year-ago quarter. The bank said net credit loss rates were below 1% for the first time since second quarter of 2006.
First Growth Capital announced it provided $5.5 million in working capital credit facilities during the months of May-June. The facilities are collateralized by the client’s A/R and inventory.
TrueNorth Capital Partners announced that TNCP acted as exclusive financial advisor to Hansen on the sale of all of its issued and outstanding capital stock to ElectroCraft. Bank of America provided the senior financing.
International Commercial Television announced it closed on a facility with JPMorgan Chase Bank. The company has no plans to utilize the facility, but will have access to it for working capital.
Bibby Financial Services announced it appointed former HSBC’s corporate invoice and equipment finance director, Kevin Craven.
Thermo Credit announced it funded a loan facility to T&D Trenchless.
DS-Concept Factoring provided a $2.5 million export A/R facility to an apparel distributor in California.