Fintech lender OnDeck has provided $3 billion in small business loans in eight years. Now the company is developing a new online product for banking giant JPMorgan Chase. Business lending is moving into the 21st century, and other banks are also dipping a toe in the fintech water.
Reuters reported banks changed the terms on a 7.6 billion euro ($10.36 billion) equivalent merger and refinancing loan for DE Master Blenders’ after investors protested. Arranging banks BofA Merrill Lynch, JP Morgan and Morgan Stanley were said to adjust the deal.
Outokumpu announced it completed a €900 million ($1.23 million) revolver. BNP Paribas, others acted as mandated lead arrangers and lenders of the new facility.
Reuters reported that bankrupt wireless communications firm LightSquared is seeking to raise exit financing, and targeting a $2 billion to 2.5 billion exit term loan, sources said.
Norsk Hydro signed a $1.7 billion syndicated revolving multicurrency credit facility with a syndicate of 13 international banks, including BNP Paribas, Citibank and others.
Reuters reported that JP Morgan and HSBC topped the list of the world’s top banks that must hold extra capital starting in 2016 because of their size and reach, the Financial Stability Board said.
Fortescue Metals Group announced that Credit Suisse and JP Morgan have amended its senior secured credit facility.
Reuters reported that JP Morgan, Bank of America Merrill Lynch, SunTrust and Wells Fargo are leading a $1.6 billion facility related to Advance Auto Parts’ General Parts International acquisition.
Camping World announced today it secured a $525 million multi-year floor plan credit facility. Bank of America, which serves as administrative agent, led the transaction.
Reuters reported Siemens said it secured a $3 billion revolving credit facility to replace an expired arrangement. Commerzbank, Deutsche Bank and JP Morgan acted as coordinators and bookrunners, Reuters said.