MRC Global syndicated and closed a $650 million seven-year senior secured term loan B. Bank of America acted as the administrative agent along with a syndicate of lenders.
Capital One Bank appointed Bill Willson to lead the bank
FGI Finance hired Brad Strickland as VP of Business Development in the Atlanta Region. Strickland has previously worked for Melville Capital and GE Commercial Finance.
SSG was the exclusive investment banker to Watermill Group’s $42 million secure debt financing, which consisted of a $25 million revolver and a $17 million senior secured term loan. The facility will fund Watermill’s acquisition of Superior Tube Company and Fine Tubes.
Total bankruptcy filings in the United States for the month of October increased 16% compared to September, according to data provided by Epiq Systems, Inc. October bankruptcy filings totaled 101,278, up from the 87,522 filings registered in September 2012.
First Capital provided an $8 million asset-based lending facility to an oil field services industry provider. The senior credit facility consists of an $8 million working capital revolver collateralized by accounts receivable.
Dermatopathology Laboratory of Central States has entered into an agreement with PNC Bank that secures the capital required to fund the laboratory’s 2013 expansion plans. The revolving credit facilities were led and structured by PNC Business Credit.
CIT Factoring University launched “How to Manage Collections Efficiently.” This is the third in a series of animated videos created to educate small and middle-market business owners on how the various aspects of factoring can benefit their business.
Samir Shah has joined Intrepid as a vice president. He has previously held investment banking roles at Goldman, Sachs and Guggenheim Partners, a senior corporate development role at Union Bank and was a corporate lawyer at Weil, Gotshal & Manges in New York City.
A joint venture between Tiger Capital Group and SB Capital Group began liquidating over $30 million of inventory from 150 Bakers Footwear Group stores. The going-out-business sales are expected to continue through the end of the year.