According to an 8K, Wells Fargo served as administrative agent and Wells Fargo Securities served as sole lead arranger and sole bookrunner on an amendment to Mayville Engineering Company’s credit facility. The amendment enhances the maximum leverage covenant ratio.
Capital One joined the original group of lenders on Baldwin Risk Partners’ senior revolving credit facility as co-documentation agent. The lender group, led by JPMorgan, amended the facility to increase the committed line to $400 million.
According to the Wells Fargo Investment Institute’s 2020 midyear outlook, there will be a deep but short recession and a gradual U.S. economic recovery beginning in the second half of 2020.
iCapital Network entered into an agreement to acquire the alternative investments feeder fund platform from Wells Fargo’s global alternative investments division.
Red Robin Gourmet Burgers raised approximately $30 million through its “at-the-market” equity offering program, satisfying the terms of its amended credit agreement. According to an 8K filed with the SEC, Wells Fargo served as administrative agent for the credit agreement.
QEP Resources entered into an amendment to its existing credit agreement with Wells Fargo Bank and other lenders. According to Tim Cutt, president and CEO of QEP, the amendment creates more than $500 million in additional liquidity for the company.
According to an 8K filed with the SEC, Wells Fargo served as administrative agent on a $900 million delayed draw term loan for Silgan Holdings, which was used to fund Silgan’s acquisition of the dispensing business of the Albéa Group.
Wells Fargo appointed two new Corporate Risk leaders, Kevin Reen and Bill Juliano, to provide greater oversight of all risk-taking activities and a more comprehensive view of risk across the company.
According to an 8K, Wells Fargo served as trustee for the sale of $300 million of 6.375% senior notes due in 2025 by Wolverine Worldwide, which also entered into an amendment to its senior credit facility.
Wells Fargo named Chintan Mehta chief information officer (CIO) and head of digital technology and innovation. The company also named Munish Kumar CIO and head of wealth and investment management technology.