BMO Harris Bank provided metal and chemical manufacturer Synalloy Corporation with a four-year revolving credit facility with up to $150 million of borrowing capacity.
Abacus Finance Group promoted Joseph Lee from senior associate to vice president and Jacob Wise and Austin Rendell from analysts to associates.
MUFG Union Bank, BMO Harris Bank, Wells Fargo, BOK Financial, First Horizon Bank, Arvest Bank and Commerce Bank increased America’s Car-Mart’s existing line of credit to from $241 million to $326 million. MUFG joined the group as a new lender.
The Paycheck Protection Program has been top of mind for many lenders, particularly banks. ABF Journal learned about the experience of bank-owned asset-based lending groups with the program as well as expectations and concerns for the future in conversations with four leaders in the industry.
The Secured Finance Network’s 76th Annual Convention, “This Way Forward,” will take place from Nov. 17 to 19 and will cover financial, economic and political disruptions that banks and finance companies face in the midst of a pandemic and the aftermath of the U.S. election.
According to an 8K, MUFG Union Bank, Wells Fargo, Citizens Bank and BMO Harris led an incremental amendment for a $175 million term loan A facility for MaxLinear. MaxLinear is using the financing to fund its completed acquisition of Intel’s home gateway platform division.
For the second consecutive year, Forbes named BMO Harris Bank one of America’s Best Employers for Women in 2020.
Roadrunner Transportation Systems terminated its existing senior secured credit facility with BMO Bank Harris in connection with its plans to spin off Ascent Global Logistics as a stock dividend to stockholders.
KPS Capital Partners will acquire substantially all of the assets of Briggs & Stratton, including equity of foreign subsidiaries, for approximately $550 million.
A syndicate of banks led by Citigroup Global Markets amended Harsco’s existing senior secured credit facilities. The required levels of the existing total net leverage ratio covenant will be increased through Dec. 31, 2021.