News

Fnac Darty signed a €500 million ($542.69 million) credit agreement with a syndicate of banks. Crédit Agricole coordinated the transaction, which is guaranteed up to 70% by the French State.

J D Factors recently provided $3.82 million in factoring facilities, including a $750,000 facility to a transportation company in New Jersey.

Utica Leaseco completed a $2.25 million refinance transaction secured by machinery and equipment to an automotive company located in Missouri.

Goldman Sachs Bank, Deutsche Bank, Barclays Bank, Morgan Stanley Senior Funding and Credit Suisse provided a $460 million debtor-in-possession facility to Frontier Communications, according to an 8K filed with the SEC.

Ankura will act as financial advisor and assume the role of chief restructuring officer for Yuma Energy, which filed voluntary Chapter 11 petitions for relief under the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Northern District of...

ING Capital increased Petros PACE Finance’s credit facility, which was joined by a three-bank syndicate consisting of Stifel Bank, Midwest BankCentre and Providence Bank.

TCI Business Capital hired Michael Holland as senior vice president of business development. Holland joined from Pivotal Advisors, a national sales improvement firm, where he had been a senior consultant since 2017.

According to data from SFNet, lenders reported asset-based lending to U.S. businesses increased steadily and credit quality remained strong in Q4/19, but the unfolding COVID-19 pandemic is having an unprecedented impact on financial markets.

Bank of America reported Q1/20 net income of $4.0 billion, down 45% from $7.3 billion in Q1/19. Nonperforming loans increased $504 million from Q4/19, primarily driven by a $353 million increase in commercial loans.

Wells Fargo reported Q1/20 net income of $653 million, down 88.9% from net income of $2.9 billion in Q1/19. Revenue of $17.7 billion was down 18% from $21.6 billion year over year.