Wanda Alverio and Andre Lemons joined Fifth Third Business Capital as vice presidents and ABL principals. In addition, John Littrell was promoted to group head of portfolio management.
Fifth Third Bank closed a $22 million credit agreement for American Shared Hospital Services, a provider of technology solutions for stereotactic radiosurgery and advanced radiation therapy equipment and services. The agreement is composed of three loan facilities.
A syndicate of banks including Goldman Sachs acted as joint bookrunners and joint lead arrangers in connection with a new term loan B facility of $500 million as part of Harsco’s amendment to its senior secured credit agreement.
Ribbon Communications executed a third amendment to its credit agreement. Citizens Bank, as administrative agent under the credit facility, led the amendment, which increased Ribbon’s existing term loan A credit facility by approximately $75 million.
Truist Securities served as left lead arranger, Fifth Third Bank acted as joint lead arranger, Union Bank acted as syndication agent and Regions Bank acted as documentation agent on a $400 million revolving credit facility with a $150 million accordion for Anthem Entertainment.
Fifth Third Bank’s asset-based lending group acted as sole lender on a $100 million asset-based revolving credit facility for a West Coast-based e-commerce retailer.
Fifth Third Bank named Kala Gibson chief enterprise corporate responsibility officer and head of business banking. Fifth Third also promoted Stefanie Steward-Young to chief corporate social responsibility officer and Jada Grandy-Mock to chief corporate community and economic development officer.
The Paycheck Protection Program has been top of mind for many lenders, particularly banks. ABF Journal learned about the experience of bank-owned asset-based lending groups with the program as well as expectations and concerns for the future in conversations with four leaders in the industry.
Purple Innovation executed a new five-year $100 million senior secured credit facility, consisting of a $45 million term loan and a $55 million revolving line of credit, with a group of financial institutions led by KeyBanc Capital Markets.
Fortegra Financial, a specialty insurer and subsidiary of Tiptree, closed on a $200 million senior secured credit facility from a syndicate of banks led by Fifth Third Bank.