Through its existing joint venture with GIC, Summit Hotel Properties closed a portfolio acquisition of 26 hotels from affiliates of NewcrestImage. Bank of America and Wells Fargo Bank provided $410 million in debt financing to support the transaction.
American Assets Trust amended its unsecured credit agreement to, among other things, increase the revolving line of credit to $400 million. According to an 8K filed with the SEC, Bank of America is the administrative agent for the credit agreement.
Nortech Systems executed a sixth amendment to its loan and security agreement with Bank of America, extending the maturity date by four years to June 15, 2026.
Casella Waste Systems, a regional solid waste, recycling and resource management services company, entered into a $650 million amended and restated credit agreement with Bank of America as administrative agent and swing line lender.
Hilton Grand Vacations refinanced and increased the capacity under its existing revolving facility from $800 million to $1 billion. Bank of America will remain the administrative agent for the new revolving credit facility.
Bank of America named Rita Sola Cook president of Chicago for the bank. Cook will succeed Paul Lambert, who plans to retire after 30 years with the company.
Resolute Forest Products reset the five-year maturity of its senior secured asset-based revolving credit facility with an aggregate lender commitment of up to $450 million. A syndicate of six banks provided the ABL credit facility, with Bank of America as administrative agent and collateral agent.
Celestica enhanced its current credit facility, including an expansion of its borrowing capacity with improved terms. Bank of America is acting as administrative agent for the syndicate of banks providing the expansion.
KBR closed the fifth amendment to its credit agreement dated April 25, 2018. According to an 8K filed with the SEC, Bank of America is the administrative agent, swing line lender and a letter of credit issuer for the credit agreement.
The Children’s Place refinanced its revolving credit facility and term loan with a new lending group led by an affiliate of Wells Fargo. The new debt consists of a revolving credit facility with $350 million of availability and a $50 million term loan.