News

The Financial Times reported that Chinese car maker FAW Group signed a $144 billion credit line with 16 banks, including China Construction Bank, Industrial and Commercial Bank of China, Bank of China and Agricultural Bank of China.

Wells Fargo’s Chief Administrative Officer Hope Hardison and Chief Auditor David Julian have begun leaves of absence from Wells Fargo. The company has made several key leadership appointments in the wake of their leaving._x000D_ _x000D_

Encina Business Credit provided an $18 million senior secured credit facility to a plastic injection molding company.

An entity controlled by George Feldenkreis acquired Perry Ellis International through a $437 million transaction. Perry Ellis was subsequently converted into a private company.

Surgery Partners closed an incremental term loan amendment, which provided for the issuance of a $180 million senior secured incremental term loan under the borrower’s credit agreement, dated August 31, 2017.

Cobalt 27 Capital amended and upsized its revolving term credit facility, increasing the amount from $180 million to $200 million. National Bank of Canada served as administrative agent on the facility.

Webster Financial appointed E. Carol Hayles to its and Webster Bank's boards of directors, effective October 23, 2018. She also has been appointed to the Audit and Risk Committees of the boards.

Super G provided a $1 million second lien term loan for a privately-owned wholesaler of licensed toys, collectibles and housewares.

Amerisource Business Capital funded a $500,000 credit facility for a manufacturer of organic skincare products in California. Proceeds of the facility are being used for working capital to support growth.

The Wall Street Journal reported that with relaxed government regulations, risky loans are making a comeback and few seem worried about it.