BancorpSouth Bank and Cadence Bancorporation, the parent company of Cadence Bank, entered into a merger agreement under which the companies will combine in an all-stock merger with a total market value of more than $6 billion.
Cadence Bank extended Good Times Restaurants’ credit agreement maturity to January 2023 and expanded the facility to $11 million.
Baldwin Risk Partners, a subsidiary of BRP Group, priced a loan syndication for a new $400 million senior secured first lien term loan facility maturing in 2027 and a new $400 million senior secured first lien revolving credit facility maturing in 2025.
Cadence Bank rebranded AloStar Capital Finance, a division of the bank that provides asset-based lending and specialty finance solutions, to Cadence Business Finance. In addition, Norbert Schmidt was appointed executive vice president and director of capital finance.
Cadence Bank appointed Myra Caldwell its first chief diversity officer. Caldwell has been with Cadence for more than nine years and will proactively develop the vision, mission and strategic plan for Cadence’s Diversity, Equity and Inclusion program.
Capital One joined the original group of lenders on Baldwin Risk Partners’ senior revolving credit facility as co-documentation agent. The lender group, led by JPMorgan, amended the facility to increase the committed line to $400 million.
BofA Securities, BBVA Securities and PNC Capital Markets acted as joint lead arrangers and joint bookrunners on a three-year, $670 million secured credit facility for Diodes Incorporated.
Truist served as administrative agent on an increase from $705 million to $740 million for the revolving credit facility of Main Street Capital, according to a related 8K filed with the SEC.
JPMorgan acted as sole bookrunner and lead arranger and will continue to serve as administrative agent and lender for an amended senior revolving credit facility for BRP Group. The amendment increased the committed line under the credit facility to $300 million.
BRP Group’s subsidiary Baldwin Risk Partners has amended its senior revolving credit facility, increasing its capacity to $225 million, up $100 million from its previous amount of $125 million.