Bank of America Merrill Lynch, PNC Bank and Wells Fargo Capital Finance acted as joint lead arrangers for a senior facility supporting the acquisition of a majority interest in Marquette Transportation by BDT Capital Partners.
Radiant Logistics completed its acquisition of Wheels Group. Radiant financed the cash portion of the consideration and fees/expenses through advances under a $65 million senior revolving cross-border facility with Bank of America and Bank of Montreal.
Huron Consulting Group amended and restated its senior facility with a syndicate of lenders, including Bank of America and JPMorgan Chase.
Dean Foods entered into a new $450 million senior revolver with Bank of America and Rabobank.
American Capital closed an increase in commitments on its $750 million senior revolver, provided by Bank of America, by $500 million to $1.25 billion.
Cal Dive and U.S. subsidiaries filed voluntary petitions in the U.S. Bankruptcy Court for the District of Delaware seeking relief under Chapter 11. The company has received a commitment for up to $120 million in DIP financing from its first lien lenders led by Bank of America.
NorthStar Alarm Services has increased its credit facility to $80 million. Bank of America remains the lead bank and new participants include The Private Bank, Capital Source and Capital One.
Ryder amended its existing $900 million global revolver. Bank of America Merrill Lynch, Bank of Tokyo-Mitsubishi, BNP, Mizuho, Royal Bank of Canada, RBS, US Bank and Wells acted as joint lead arrangers.
Bank of America reported full year net income was $4.8 billion, down 58% from $11.4 billion a year earlier. The bank noted its litigation expense of $16.4 billion in 2014 was up from $6.1 billion a year earlier.
Reuters reported that Ambac Assurance sued Bank of America to recoup losses from insuring nearly $1.7 billion of securities backed in part by risky mortgages from the bank’s Countrywide loans unit.