Wells Fargo Capital Finance announced it has formed a Commercial Services Division to provide factoring and accounts receivable financing products and services for U.S. and international companies. The new division will be led by Stuart Brister.
Capital Access Network added $165 million to its line of credit from a syndicate of financial institutions, now including Capital One, Amalgamated Bank, Regions Bank, Capital Source and AloStar.
With so much liquidity in the marketplace and the need to deploy it, banks and other lenders are entering the asset-based lending marketplace. ABF Journal speaks with five ABL leaders to get their insights on today’s competitive lending environment and their respective strategies to stimulate deal flow and to differentiate their institutions on such a crowded playing field.
Wells Fargo Capital Finance appointed Rossi Felix as managing director within its Healthcare Finance Group. Previously, Felix held senior management positions at GMAC Health Capital and GE Healthcare Financial Services.
Wells Fargo Capital Finance acted as administrative agent on a $100 million revolver and a $10 million term loan for specialty retailer Floor and Decor Outlets of America.
An affiliate of H.I.G. Capital completed its acquisition of recycled paperboard provider Caraustar Industries. Financing for the transaction was provided by Credit Suisse, Goldman Sachs, Jefferies and WFCF.
North Mill Equipment Finance said it has entered into a $50 million senior loan facility with Wells Fargo Capital Finance.
General Datatech entered into an agreement with Wells Fargo Capital Finance to add to its existing senior secured credit facility in the amount of $100 million.
Business Financial Services closed an $82 million credit line with Wells Fargo Capital Finance. The facility replaces a smaller one with another lender.
Fifth & Pacific Companies amended its existing bank revolving credit facility. J.P. Morgan Securities, BofA Merrill Lynch, WFCF and SunTrust Robinson Humphrey were the arrangers.