Kodak closed a new five-year $200 million ABL revolver. Together with the previously announced $695 million exit term loan, the company has up to $895 million in exit financing. BofA Merrill, Barclays and J.P. Morgan were joint lead arrangers.
Teine Energy said it closed a $300 million senior secured second lien term loan arranged by Barclays. Teine also announced the refinancing of an existing revolver with National Bank Financial as agent.
Simpson Thacher is representing J.P. Morgan Securities and Barclays Bank in connection with $12.5 billion in bridge financing to Thermo Fisher Scientific in its acquisition of Life Technologies.
Bloomberg reported that RBS will recoup $458 million from employees by cutting its bonus pool and clawing back compensation following its fine for rigging LIBOR. Reuters says Barclays plans to cut or claw back $680 million to recoup its losses.
J.C. Penney said it increased its borrowing capacity under a bank credit facility by $100 million to $1.85 billion. JPMorgan acted as agent for a 27-bank lender group (lender commitment list provided).
The Daily Mail reported that Barclays intends to close its tax avoidance unit in an attempt to move away from the bank’s involvement in the LIBOR-rigging scandal.
iStar Financial it received commitments from lenders to reprice its $1.82 billion senior secured credit facility due October 2017. J.P. Morgan acted as lead left bookrunner and served with, Barclays and BofA Merrill Lynch as joint lead arrangers and bookrunners.
The Financial Times reported that email evidence presented in a London court suggests that top executives at Barclays knew the bank was “lowballing” its submissions to the rate setting process almost a year earlier than previously disclosed.