Virtus Investment Partners completed the refinancing of its existing credit agreement with a $275 million term loan and $175 million revolving credit facility. Morgan Stanley arranged the term loan as the lead arranger and bookrunner and the credit facility as lead arranger and administrative agent.
Ritchie Bros. amended and extended its $1.045 billion credit agreement, with BofA Securities and RBC Capital Markets serving as joint lead arrangers and joint bookrunners, Bank of America serving as administrative agent and the Royal Bank of Canada serving as syndication agent.
Information Services Corporation entered into an amended and extended credit agreement in connection with a $150 million secured credit facility. Royal Bank of Canada is the administrative agent for the facility.
CIFC Asset Management launched the CLO Initiative for Change, a philanthropic program connected to collateralized loan obligations issued by the firm and dedicated to supporting organizations driving social, economic and/or environmental change.
Apollo Global Management entered into an agreement to acquire Verizon Media from Verizon for $5 billion. Verizon will retain a 10% stake in the company, which will be known as Yahoo at close of the transaction and continue to be led by Guru Gowrappan as CEO.
Barclays Bank, Capital One, J.P. Morgan Securities, RBC Capital Markets, TD Securities and Truist Securities acted as joint bookrunners and joint lead arrangers for the refinancing of RadNet’s term loan and revolving credit facility.
Blue Racer Midstream completed an amendment and restatement of its existing revolving credit facility, providing up to $750 million of borrowing capacity and extending the facility’s maturity date by three years to 2025. Wells Fargo Securities acted as sole bookrunner for the facility.
A subsidiary of Ares Management entered into a definitive agreement with a subsidiary of BrightSphere Investment Group and Landmark Investment Holdings to acquire 100% of Landmark Partners. The transaction is valued at $1.08 billion.
WildBrain completed the refinancing of its senior secured term loan with a $285 million senior secured term loan facility. The company also entered into a $30 million revolving credit facility. RBC Capital Markets acted as sole lead arranger and bookrunner on the refinancing.
City National Bank created a new national corporate banking division. Brent Williams, a senior vice president for City National Bank, will lead the new division. Williams also leads the bank’s L.A. Metro commercial banking business unit.