Beige Book: Economy Continues Gradual Expansion
According to the Fed’s recently released Beige Book, economic activity continued to expand gradually in July and early August across most regions and sectors.
August 29, 2012
ABF Journal
According to the Fed’s recently released Beige Book, economic activity continued to expand gradually in July and early August across most regions and sectors.
Matrix Capital Markets announced it facilitated the successful sale of the assets of Orlando, FL-based Florida Oil Holdings to Circle K Stores, a subsidiary of Alimentation Couche-Tard.
BB&T said it has named Russell Brant as a commercial finance specialist who will be responsible for directing the group’s indirect growth initiatives as well as for expanding the bank’s asset-based lending coverage and product offerings.
The Wall Street Journal reported that companies in Southern Europe have increased their search for alternative sources of funding – an indication that Europe’s debt crisis is “far from over.”
Babson Capital Management said it provided $12 million in mezzanine debt to support Drew Marine
An article published on Law360.com reported that K&L Gates asked the PA Supreme Court to review a lower court’s decision reviving a $500 million malpractice case by the liquidating trustee of Le-Nature’s accusing the firm of failing to uncover massive fraud at the now-defunct company.
GE Energy Financial Services served as lead arranger of a $107 million senior secured credit facility for two gas-fired power plants managed by private equity firm Tenaska Capital Management.
Avenue Bank announced five new promotions in the Nashville branches including Andy Moats and John Moore who were named bank group director and senior vice president, respectively.
The Alliance of M&A Advisors and The CFO Alliance announced a new business affiliation to better drive the individual and corporate performance of middle-market companies.
Holsted Marketing, a New York-based multi-channel direct-marketing company, filed a Chapter 11 case in the U.S. Bankruptcy Court for the Southern District of New York. Rosenthal & Rosenthal is acting as secured lender to Holsted Marketing.