XOMA Secures $10MM Term Loan With GE Capital HFS

XOMA, a pharmaceutical company focused on the development of antibody therapeutics, entered into a $10 million 42-month secured term loan agreement with GE Capital, Healthcare Financial Services.

January 3, 2012 ABF Journal

RF Monolithics Renews, Extends Facilities With ViewPoint Bank

RF Monolithics announced that it has renewed and extended the existing $5 million senior secured credit facility and $740,000 real estate mortgage with ViewPoint Bank.

January 3, 2012 ABF Journal

Granite City Acquires Cadillac Restaurants, Increases Facility

Granite City Food & Brewery has acquired the assets of three Cadillac Ranch All American Bar & Grill restaurants for $3.3 million. Fifth Third Bank provided a $5 million delayed draw term loan, which Granite City drew in full to fund the acquisitions.

January 3, 2012 ABF Journal

CIT Bank Pays Top Rate of 1.15% APY on 12-Month CDs

According to a post on Bankaholic.com, CIT Bank closed out the year 2011 with 12-month CD rates of 1.15% APY, the top rate offered by only one other bank in the U.S.

January 3, 2012 ABF Journal

Olympus Partners Acquires Pizza Hut Franchisee NPC

Olympus Partners said it has acquired NPC International, the largest Pizza Hut franchisee and the largest franchisee of any restaurant concept in the U.S.

January 3, 2012 ABF Journal

World’s Biggest Economies Face $7.6 Trillion Debt

Bloomberg reported that governments of the world’s leading economies have more than $7.6 trillion of debt maturing this year, with most facing a rise in borrowing costs.

January 3, 2012 ABF Journal

Survey: European Debt Shapes Outlook for Distressed Industries

Corporate restructuring specialists say technology and energy industries will improve in 2012, but a worsening European sovereign debt crisis could be the wrench that squeezes them all, according to the annual TMA Trend Watch survey.

January 3, 2012 ABF Journal

Former CEO of GDC Acquisitions Found Guilty of Fraud

A federal jury returned guilty verdicts against Courtney Dupree, the former CEO of GDC Acquisitions. Dupree was found guilty of bank fraud against Amalgamated Bank, GDC’s asset-based lender, of $21 million in fraudulent loans.

January 3, 2012 ABF Journal

Financial Times: Private Equity Looks to Asset-Backed Loans

The Financial Times reported that private equity groups in Europe are increasingly turning towards asset-backed loans as they look to fill the financing gap left by retrenching banks.

January 3, 2012 ABF Journal

Maryland Governor Asks Immelt to Unfreeze R.G. Steel Funds

The Baltimore Sun reported that Maryland Governor Martin O’Malley has asked GE chairman and CEO Jeffrey Immelt to reconsider GE Capital’s decision to freeze some of R.G. Steel’s funds, saying the move has contributed to the firm’s decision to lay off workers.

January 3, 2012 ABF Journal