Nine West Emerges from Chapter 11 with Exit Financing From Wells, GS

Nine West Holdings completed its financial and operational restructuring and emerged from Chapter 11. Wells Fargo and Goldman Sachs provided over $100 million of go-forward liquidity to support its operations and future growth initiatives.

Wells Fargo CEO Testifies on Company Reforms Before Skeptical Congress

Wells Fargo CEO and President Tim Sloan testified before the House Financial Services Committee, asserting Wells Fargo has become a better bank through ongoing operational reforms. But numerous news services reported this testimony was met with skepticism by Congressional membership.

Wells Fargo Details Plan to Rebuild and Transform

Wells Fargo provided an update on the progress the company has made and is making as part of its transformation to build a better, stronger company in a new progress report available on its website.

Barclay’s, Wells Fargo to Provide $155MM DIP Financing to CTI Foods

CTI Foods filed for voluntary petitions under Chapter 11 in order to implement its financial restructuring plan. Barclays Bank and Wells Fargo will provide the company with $155 million in DIP financing to support it through the restructuring.

Wells Fargo Names Gillespie Head of Coverage, Hudson Vice Chair

Wells Fargo appointed David Gillespie to head of Coverage for Corporate & Investment Banking and John Hudson to vice chair, Chair of Client Origination.

Wells Fargo Names Tejada Chief Strategic Enterprise Risk Officer

Wells Fargo named Maria Teresa Tejada its new chief strategic enterprise risk officer. Tejada will join the company’s risk organization and report directly to chief risk officer Mandy Norton.

Wells Fargo, Morgan Stanley Provide $200MM Facility to Golub Capital

Golub Capital entered into a loan and servicing agreement in the aggregate principal amount of up to $200 million. Morgan Stanley Senior Funding acted as administrative agent on the facility, while Wells Fargo served as collateral agent, account bank and collateral custodian.

Wells Fargo Hires Scammahorn as Chief Auditor

Wells Fargo named Julie Scammahorn as its new chief auditor. Scammahorn will be based in San Francisco and report to CEO and President Tim Sloan and to the Audit and Examination Committee of the board of directors.

BofA Agents $40.5MM Reduction to MoneyGram Revolver

Bank of America acted as the administrative agent on an amendment to money transfer and payment services provider MoneyGram International’s revolving credit facility, reduced the total commitments to $45 million from $85.5 million.

Wells Fargo Agents New $250MM ABL Revolver for Masonite

Masonite International entered into a new amended and restated $250 million asset-based revolving credit facility. Wells Fargo acted as administrative agent on the transaction.