CIT Agents $85MM Independence Contract Drilling Amendment

Independence Contract Drilling amended its existing senior secured revolving credit facility agented by CIT. Commitments were reduced to $85 million with an uncommitted $25 million accordion feature.

American Apparel Replaces Capital One as ABL Agent

American Apparel secured a $90 million asset-based revolver with Wilmington Trust as agent for a lender group replacing Capital One Business Credit. The company noted “substantial doubt that it would be able to continue as a going concern.”

Wells Fargo, Others Lead Nuverra Upsized Revolver

Nuverra Environmental Solutions announced it revised its existing revolver to increase the maximum availability under the Revised Facility from $200 million to $245 million.

deBrauwere Appointed Head of Capital One Business Credit

Capital One Bank announced it appointed Daniel deBrauwere to the newly created role of head of Capital One Business Credit, the bank’s national ABL business.