Reuters reported that the Office of the Comptroller of the Currency told Congress that it will will review the next pick for Wells Fargo’s chief executive.
BofA Agents $500MM ABL Facility Extension for Resolute
May 15, 2019
Resolute Forest Products completed a 5-year extension of its senior secured ABL revolver an aggregate lender commitment of up to $500 million at any time outstanding. Bank of America served as both administrative and collateral agent on the facility.
Wells Fargo Survey: Business Owners Show Optimism, Confidence in Economy
May 13, 2019
Optimism among small business owners is strong, according to the latest quarterly Wells Fargo/Gallup Small Business Index. The survey also revealed that over half of business owners reported little impact to their tax situation along with a rising interest in credit.
Wells Fargo Struggles to Find New CEO Under Pay Limitations
May 13, 2019
Reuters reports a source familiar with Wells Fargo’s search for a new CEO says the attempts have been hobbled by pay limits.
Wells Fargo Upsizes OSI Systems Credit Facility to $535MM
April 24, 2019
OSI Systems amended its senior secured credit facility, increasing the amount available to $535 million. Wells Fargo served as administrative agent.
Wells Fargo Agents $1.3B Facility for Six Flags
April 18, 2019
Six Flags Entertainment entered into a new seven-year $800 million senior secured term loan facility and five-year $350 million senior secured revolving credit facility. Wells Fargo served as administrative agent for the transaction.
Well Fargo Q1/19 C&I Interest Income Up 23 Percent
April 12, 2019
Wells Fargo reported Q1/19 earnings of $5.9 billion was up from $5.1 billion a year earlier. C&I interest income was also up 23 percent compared to a year earlier while lease financing interest income and yields were down from Q1/18.
After Consumer Scandals, Wells Fargo Struggles to Recruit Corporate Clients
April 1, 2019
Three years after a sales practice scandal rocked the bank, Wells Fargo is struggling to recruit new clients for its corporate bank, according to a new report from Reuters.
Wells Fargo CEO and President Sloan to Retire
March 29, 2019
Wells Fargo’s CEO and president Timothy J. Sloan will retire from the company, effective June 30, 2019, and will step down as CEO, president, and board member effective immediately.
