BNY Mellon Agents $800MM Term Loan for Grupo Gerdau

Grupo Gerdau secured a $800 million credit facility. BNY Mellon served as administrative agent for the transaction.

BofA Agents $1.45B Facility for Asbury Automotive Group

Asbury Automotive Group has amended its $1.45 billion, five-year syndicated senior credit facility with Bank of America serving as administrative agent.

Santander Bank Adds Industry Veterans to ABL Team

Santander Bank has tapped Paul Cronin to lead its asset-based lending business in its Commercial Banking division. Arthur Pesavento will join the ABL group as senior vice president and business development officer.

Rabobank, Santander, Others Support Sainsbury Acquisition of Asda

Reuters reported UK supermarket Sainsbury’s closed £3.5 billion ($4.5 billion) in syndicated loans in order to facilitate an acquisition of Walmart’s Asda, which is valued at £7.3 billion ($9.7 billion).

Citi, Goldman, Others Renew $1.27B Air France/KLM Facility

Air France and KLM Airlines renewed their joint €1.1 billion ($1.27 billion) revolving credit facility with a syndicate of 18 banks.

WSJ: Big Banks Lose Nearly Half a Trillion Dollars in 2016

The Wall Street Journal reported that 20 of the world’s biggest banks have lost 25% of their aggregate market value — approximately $465 billion — according to data from FactSet.

Citi Europe Agents Royal Caribbean Cruises Credit Agreements

Royal Caribbean Cruises entered into credit agreements for the financing of ships scheduled for delivery in fall 2018 and the first half of 2020. Citibank Europe served as facility agent.

Bank of America Agents Abengoa Yield Revolver Increase

Abengoa Yield said it has increased its existing $125 million credit facility with a revolver tanche B for an additional amount of $290 million.

GE Sells Consumer Finance Business in Northern Europe

Reuters reported that Banco Santander is buying GE Money Bank, GE Capital’s consumer finance business in Sweden, Norway and Denmark for $950 million.

Sovereign Increases MicroFinancial Credit Agreement

MicroFinancial’s subsidiary, TimePayment, increased its revolving line of credit from $100 million to $150 million with a bank syndicate led by Sovereign Bank.