Bloomberg notes in a report that Goldman Sachs, JPMorgan Chase and Morgan Stanley lagged behind peers in a key measure of capital strength by U.S. regulators to stress-test their resiliency in a severe recession.
Morgan Stanley, Barclays and RBC led an eight-member lending syndicate in amending Zayo Group’s credit agreement, including re-pricing both its term loan and revolving credit facility.
OneRoof Energy secured an agreement for the acquisition of up to $100 million in residential solar projects with MS Solar Holdings and Main Street Power Company.
FairPoint Communications completed the refinancing of its senior secured credit facility. Morgan Stanley Senior Funding served as administrative agent. The proceeds were used to repay outstanding debt, plus accrued interest and to pay associated fees and expenses.
BNK Petroleum (US) obtained a new $76 million credit facility from Morgan Stanley Capital Group. The initial commitment amount of the new reserve-based facility is $61 million with an additional uncommitted amount of $15 million available at the discretion of MSCGI.
Shakespeare once asked, “What’s in a name?” For Steve Czech, founder and portfolio manager of FrontPoint Partners’ SJC Direct Lending Fund, it means a great deal. The $1 billion-plus hedge fund provides privately negotiated senior loans to middle-market companies and is staffed by five experienced professionals. Moreover, it provides Czech with an opportunity to pursue a very important mission.