According to a report from The Star-Ledger, tennis racket manufacturer, Prince Sports, obtained court approval for its proposed bankruptcy plan. The plan essentially gives ownership of the company to its creditors.
Curtiss-Wright has entered into an agreement with a group of seven banks establishing a $500 million credit facility with an accordion feature to expand to $600 million. Merrill Lynch, J.P. Morgan Securities and Wells Fargo Securities served as joint lead arrangers.
Respected home furnishings industry veteran Ron Downs has launched The Downs Group, providing senior financial consulting services to the furniture and home furnishings industry working with manufacturers, distributors and its suppliers.
SSG Capital Advisors said it acted as the exclusive investment banker to Internet Fitness, d/b/a Smooth Fitness, in the placement of a new secured term loan that closed in July 2012.
Avidbank Corporate Finance said it has provided YogaWorks with a $1.5 million expansion term loan that will be used to help build and open additional YogaWorks studios in CA and NY.
The Wall Street Journal said the euro-zone’s $13 trillion economy is shrinking, a development that threatens to worsen a global slowdown and intensify the debate about Europe’s attempts to restore confidence in the currency union.
RBS Invoice Finance (RBSIF) announced the appointments of Piers Harmer and Jon Hughes to the London-based RBSIF Corporate team as business development directors. Harmer joined from Lloyds TSB Commercial Finance and Hughes from GE Commercial Finance.
NewStar Business Credit has provided $12.5 million of senior secured financing to Mercury Plastics. The credit facilities consisted of a revolving line of credit and a term loan.
Bank of America Business Capital said it recently arranged and agented a $125 million senior secured, asset-based revolver for Consolidated Container. The facility supports the acquisition of CCC by affiliates of Bain Capital Partners.
BMO Harris Bank’s Sponsor Finance group said it was joint lead arranger and administrative agent for $260 million in senior credit facilities to support the acquisition of Consona by CDC Software, a portfolio company of Vista Equity Partners.