Utz Brands, a U.S. manufacturer of branded salty snacks, and the company’s subsidiaries Utz Quality Foods, Kennedy Endeavors and Condor Snack Foods, have entered into a real estate senior secured term loan in the original aggregate principal amount of $88.14 million with City National Bank.
City National Bank grew its Commercial Banking presence on the East Coast, adding nearly a dozen new bankers and offering commercial, institutional and nonprofit banking services throughout the region.
Hercules Capital increased its existing credit facilities with MUFG Bank and Sumitomo Mitsui Banking Corporation from a combined $500 million to $720 million, subject to a borrowing base, leverage and other restrictions.
Tetra Tech, a provider of consulting and engineering services in water, environment and sustainable infrastructure, established a $1 billion sustainability-linked credit facility. Bank of America led the lender group for the facility with joint lead arrangers Wells Fargo Bank, U.S. Bank and Bank of Montreal.
City National Bank promoted Brent Williams to executive vice president. Williams, who serves as head of the bank’s national corporate banking division, will also join City National Bank’s executive committee.
Ares Commercial Real Estate increased the size of its secured revolving facility with City National Bank from $50 million to $75 million.
Meritage Hospitality Group, a franchise operator, closed on a $302.8 million senior secured credit facility syndication led by City National Bank. Meritage Hospitality Group closed on the facility in advisory with Auspex Capital.
Tree Line Capital Partners served as agent and lead arranger for a first lien credit facility to support the growth recapitalization of Promevo by Cohere Capital. Tree Line provided a last-out term loan and equity co-investment to support the transaction.
Apollo Medical Holdings refinanced its existing term loan and revolving credit facility with a new five-year revolving credit facility of $400 million. Truist Bank served as administrative agent.