A123 Systems announced that the U.S. Bankruptcy Court for the District of Delaware has granted A123 approval of the bidding procedures and stalking-horse bid protections in connection with the previously announced stalking-horse asset purchase agreement.
Tool manufacturer Apex Tool Group is in discussions with Goldman Sachs and Barclays for a $1.475 billion credit facility to support the company
NewPage announced that the Disclosure Statement for its Fourth Amended Chapter 11 Plan was approved by the U.S. Bankruptcy Court for the District of Delaware. The approval will eventually lead to the company’s expected emergence from bankruptcy before the end of the year.
Keltic Financial Services announced the funding of a $1.95 million senior secured credit facility, consisting of a revolving credit line and term loan, to Woodland Blinds.
GemCap announced it closed $18 million in credit facilities for the month of October.
National CineMedia announced that it has engaged Barclays, J.P. Morgan, Credit Suisse, Macquarie and Morgan Stanley to arrange a refinancing of its existing senior secured credit facility, replacing the current facility for a new seven-year, $265 million term loan.
First Capital hired Jeannette Lopez as vice president and underwriter. Lopez will be responsible for underwriting and risk analysis of new business throughout the Factoring Division.
The Commercial Finance Association announced its officers and executive committee for 2012-2013. Cole Taylor Business Capital’s Bruce A. Sprenger is serving as chairman of the board. Michael D. Haddad from NewStar Business Credit is president.
The sentiment of Canadian CFOs of middle-market companies on the state of their own industry and the strength of the national economy remained steady and positive in Q3/12, according to the latest GE Capital Mid-Market CFO Survey.
U.S. Attorney David J. Hickton said that Krones has entered into a non-prosecution agreement for its role the Le-Nature’s fraud. Krones will pay $15 million to the U.S. and $110 million to victims of the scheme.