EverBank formed an asset-backed finance division following the merger of its fund finance and specialty and lender finance businesses.
TriplePoint Venture Growth entered into an amendment to its revolving credit facility. Deutsche Bank served as facility agent and as a lender, together with KeyBank, MUFG Bank, Customers Bank, First Foundation Bank and EverBank under the credit facility.
Great Rock Capital upsized its leverage facility with KeyBank. The leverage facility, agented by KeyBank, provides more than $550 million of capital and includes the recent additions of new lending partners EverBank and Axiom Bank.
EverBank added five new members to its recently launched fund finance division, including Gabrielle Buckner, Chris Grier, Storey Whalen and Alexa Schult as directors and Ryan Burke as vice president.
EverBank (which is still temporarily doing business as TIAA Bank) launched a new fund finance division under the leadership of Jeff Johnston and Mike Mascia. Together, Johnston and Mascia have more than 40 years of fund finance experience.
TIAA completed the sale of TIAA Bank to private investors with experience in financial services and will now officially begin operating once more as EverBank under a new national bank charter. Terms of the transaction are not being disclosed.
TIAA Bank will become EverBank, returning to its previous brand name, as the bank transitions to new ownership. The brand name change will go into effect following the close of the sale of TIAA Bank first announced last November, with the closing expected this summer.
TriplePoint Venture Growth amended its credit facility with Deutsche Bank as administrative agent, increasing the capacity to $210 million and extending the revolver period to February 20, 2020.
TIAA agreed ti acquire EverBank in a deal valued at $2.5 billion. The deal is expected to close in the first half of 2017.
EverBank expanded its Lender Finance division and combined the Capital Equipment Finance and Business Credit units into a single group. The company added two former GE Capital employees to its senior management team.