The Secured Finance Network’s 76th Annual Convention, “This Way Forward,” will take place from Nov. 17 to 19 and will cover financial, economic and political disruptions that banks and finance companies face in the midst of a pandemic and the aftermath of the U.S. election.
Alterna Capital Solutions completed an additional $15 million private equity investment from Alterna Equity Partners, coinciding with a line increase of $30 million from Texas Capital Bank to complement a $50 million asset-based credit facility led by Wells Fargo Capital Finance.
AJ Walter Aviation closed a $70 million senior secured credit facility with Wells Fargo Capital Finance (UK) as lead bank and Shawbrook Bank as participant.
American Commercial Lines has implemented a “pre-packaged” plan to recapitalize the business and significantly reduce the company’s debt under its previously announced Restructuring Support Agreement.
Wells Fargo Capital Finance (UK) worked with a newly formed European based investor group to support their acquisition of Puragen by providing a $7.5 million funding package on U.S. based assets.
Wells Fargo Capital Finance (UK) provided acquisition and working capital financing to funds managed by affiliates of Fortress Investment Group for the take private of Majestic Wine Warehouses – formerly part of Majestic Wine.
Wells Fargo Capital Finance (UK) worked with Bridgepoint Credit to provide Acorn Growth Companies with a funding package to support its acquisition of Aerospares 2000, a supplier of aftermarket parts to the commercial aviation industry.
Bumble Bee Foods has filed Chapter 11 and will receive $280MM in DIP financing in two separate facilities agented by Wells Fargo Capital Finance and Brookfield Principal Credit.
With the current economic winds blowing cold one day and hot the next, companies with solid brands may still find themselves in need of restructuring. Borrowers looking to right the ships of business may find that asset-based loans are the best way to regain solvency. Peter Ulmer explains all the advantages that ABLs offer to the borrower under stress.
Wells Fargo Capital Finance has added three new business development officers to its Corporate Finance and Middle Market Loan Originations Groups, covering the nation’s Midwest, Northeast, and Southeast regions.