Legacy Corporate Lending, an independent asset-based lending company, closed a $100 million senior credit facility with Wells Fargo Capital Finance. The facility will support Legacy Corporate Lending’s growth in serving the middle-market ABL space.
With nearly 30 years of experience in asset-based lending, Stewart Hayes has enjoyed a rich history of helping to build Wells Fargo’s lender finance unit and financing companies that have flourished in the industry. He shared his significant career experience and outlook on the industry with ABF Journal.
Siena Lending Group increased its senior credit facility with Wells Fargo Capital Finance to $672.5 million to support its continued growth. Siena is an independent asset-based lending business.
MidCap Business Credit increased its senior credit facility with Wells Fargo Capital Finance to $200 million. This upsize will enable MidCap to support the growth of its existing asset-based lending business and support the launch of its equipment finance vertical.
Siena Lending Group increased its senior credit facility with Wells Fargo Capital Finance to $575 million. This upsize will enable Siena to continue its growth following a historic year in which it closed more than $565 million in facilities across 20 relationships.
Select Energy Services transitioned its existing asset-backed loan facility into a sustainability-linked loan facility, while extending the facility through March of 2027. Wells Fargo Bank was the lead arranger for the facility.
Wells Fargo Capital Finance provided a global hybrid asset-based and intellectual property facility to AllSaints and its subsidiary, John Varvatos. More specifically, acting as the sole lender, Wells Fargo Capital Finance provided a multijurisdictional, five-year, £65 million ($88.6 million) financing solution.
Wells Fargo extended a $50 million credit facility to Medsphere, a provider of affordable and interoperable healthcare IT platform solutions, enabling the company to continue its current growth trajectory.
The Secured Finance Foundation announced its new board members and co-chairs for 2022 and noted the board members’ various areas of special attention, ranging from education, fundraising and community development to data and next generation initiatives.
Renewable Energy Group extended and increased its line of credit with Wells Fargo Capital Finance, Fifth Third Bank and Bank of America to a maximum of $250 million. The facility was also extended through five years through September 2026.