StoneX Group agreed to amend its existing $401 million senior secured credit facility, extending the maturity through April 2025 and increasing the size of the facility to $475 million. Bank of America Merrill Lynch, Bank of Montreal and Capital One acted as joint lead arrangers on the credit facility
Select Energy Services transitioned its existing asset-backed loan facility into a sustainability-linked loan facility, while extending the facility through March of 2027. Wells Fargo Bank was the lead arranger for the facility.
BancorpSouth Bank and Cadence Bancorporation closed the previously announced merger in which Cadence merged into BancorpSouth. Upon the completion of the merger, BancorpSouth was renamed Cadence Bank.
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.