News

Reuters reported banks are continuing to issue highly leveraged loans in the wake of loosening rules this year, despite regulator warnings of credit market frothiness.

Good Times Restaurants, operator of Bad Daddy’s Burger Bar and Good Times Burgers & Frozen Custard, amended its credit agreement with Cadence Bank, expanding its facility from $12 million to $17 million.

Wells Fargo served as administrative agent on a credit agreement with Antero Midstream Partners, which, among other things, increased the aggregate lender commitments on the facility to $2 billion.

Ares Management’s Credit Group provided approximately $2.9 billion in commitments across 47 transactions that closed during the third quarter of 2018.

Austin Financial Services funded a $5 million ABL facility for a 37-year-old transportation company with a strong national presence.

CVC Credit Partners acted as administrative agent on a first lien senior secured credit facility for Industrial Physics. The company used the proceeds to finance an acquisition and refinance existing debt.

Utica Leaseco completed two transactions totaling $1.075 million during the last week of October 2018.

SeaWorld Entertainment amended its existing senior secured credit agreement, which includes $544 million in term B-2 loans and a $210 million revolver. JPMorgan Chase acted as administrative agent on the amendment.

AMETEK amended and restated its revolving credit facility, increasing the size from $850 million to $1.5 billion and extending the maturity date from March 2021 to October 2023.

Hercules Capital Funding Trust 2018-1, a newly-formed wholly owned subsidiary of specialty finance company Hercules Capital, issued $200 million of class A notes rated A(sf) by KBRA.