Bloomberg: U.S. Banks’ Legal Bills Exceed $100B
Bloomberg reported that the six biggest U.S. banks, led by JPMorgan Chase and Bank of America, have incurred $103 billion in legal costs since the financial crisis.
Bloomberg reported that the six biggest U.S. banks, led by JPMorgan Chase and Bank of America, have incurred $103 billion in legal costs since the financial crisis.
PGi amends its credit facility with increased capacity, an extended term and improved pricing and covenants. Bank of America served as administrative agent.
BofA served as administrative agent in the amendment of Booz Allen Hamilton’s credit agreement. Among other things, the amendment includes a reduced interest rate for its $1.017 billion of term loan B loans.
Radiant Logistics announced it has secured a new $30 million senior secured credit facility with Bank of America. The facility provides the company with higher advance rates and less restrictive financial and operational covenants.
Engility Holdings replaced its existing credit facility with a new $450 million senior secured credit facility. Bank of America continued as administrative agent for the new facility.
The SEC charged Bank of America and two subsidiaries with defrauding investors in an offering of residential mortgage-backed securities by failing to disclose keys risks and misrepresenting facts about the underlying mortgages.
The Providence Service Corporation amended and restated its credit facility, increasing it to $225 million. The financing was led by Bank of America and SunTrust Bank.
Standard Register announced that in conjunction with its acquisition of WorkflowOne, it has entered into a $125 million senior-secured ABL facility arranged by Bank of America.
Bloomberg reported that Bank of America and Royal Bank of Canada provided $1.9 billion in term loans to finance HBC’s previously announced acquisition of Saks, citing regulatory filings.
Actuant extended its senior credit facility to 2018. JPMorgan served as administrative agent; BofA, Wells Fargo and U.S. Bank served as syndication agents; and KeyBank and BMO Harris Bank served as documentation agents.