BMO Harris Upsizes Revolver for CTS
CTS Corporation increased its revolving credit facility to $300 million. BMO Harris Bank served as administrative agent for the transaction.
CTS Corporation increased its revolving credit facility to $300 million. BMO Harris Bank served as administrative agent for the transaction.
Motorcar Parts of America increased its revolving credit facility by $20 million to $120 million, with corresponding changes to certain thresholds. PNC Bank agented the transaction.
AMETEK has completed an amended revolving credit facility increase from $700 million to $850 million. JPMorgan Chase is the lead arranger and serves as administrative agent for an 11-bank syndicate.
Holly Energy Partners amended its existing revolving credit facility to increase the maximum amount from $850 million to $1.2 billion. Wells Fargo served as administrative agent for the transaction.
PNC Bank provided a new $54.6 million credit facility to Lane Enterprises. Phoenix Capital Resources acted as exclusive financial advisor and investment banker to Lane.
PNC announced Ankur Gupta and Michael Bishop have been appointed to the senior secured lending team as senior vice president, San Francisco and vice president, Grand Rapids, respectively.
Sypris Solutions replaced its existing $8.5 million credit line with PNC with a new $27 million facility encompassing a $15 million revolver with Siena Lending and a $12 million term loan with Great Rock Capital.
Howard Brod Brownstein interviews three active participants on the current state of ABL capital markets. While market conditions remain extremely competitive, destabilizing factors around the world continue to create uncertainty and will likely provide challenges for syndicated ABL lenders down the road.
PNC announced the appointment of David Mengel, EVP, to head up the technology finance team based in San Francisco.
Allegheny Technologies closed an asset-based revolver with a lender group led by PNC Bank as agent and PNC Capital Markets as sole lead arranger and sole bookrunner.