Progress Software amended its credit agreement to include a $123.7 million senior secured term loan and a $150 million revolving credit facility.
The digital world has transformed every aspect of our lives. Some of us still remember pasting photographs into albums and racing to answer the telephone mounted on the wall — picking up the receiver without knowing who was on the other end of the line. Technology has changed asset-based lending in ways no one could have predicted 20 years ago. ABF Journal contributor Hugh Larratt-Smith explores the evolving ABL landscape and evaluates the impact these changes will have in 2018.
Santander Bank has appointed Ellen Marshall to regional head of Middle Market for New York and New Jersey in its Commercial Banking division.
Electric power company Duke Energy closed a $1 billion credit agreement with Scotiabank as administrative agent.
Santander Bank added Steven Silverstein to its Asset-Based lending group as senior vice president.
Santander Bank closed a $10 million senior secured revolver with OL International, an ocean and airfreight cargo transportation provider.
American Midstream and its partners increased its credit facility from $750 million to $900 million. Bank of America was administrative agent for the transaction.
Sears Authorized Hometown Stores, Sears Home Appliance Showrooms and Sears Outlet Stores entered into a $250 million amended credit agreement with Bank of America as administrative agent and collateral agent.
Full Circle Capital entered into an amendment to its revolver with Santander Bank to reduce the size of the facility from $45 million to $5 million.
Vonage Holdings, a provider of cloud communications services for businesses, completed the acquisition of privately-held Nexmo. JPMorgan Chase served as administrative agent for a $450 million credit facility to support the transaction.