Zebra Technologies closed on a $3.25 billion senior secured credit facility that will mature in May 2027. J.P. Morgan and Wells Fargo were co-left lead arrangers on the structuring and syndication of the facility.
Curtiss-Wright entered into a new credit agreement with a group of eight banks increasing the size of its revolving credit facility to $750 million while also expanding the accordion feature to $250 million.
Wells Fargo promoted Paul Ricci to chief auditor, effective immediately. Ricci joined Wells Fargo in December 2019 as the chief audit director of corporate risk and capital management.
Wells Fargo formed six businesses within its corporate and investment bank’s (CIB) markets group, effective immediately. The leaders of each business line will report directly to Mike Riley and Dan Thomas, co-heads of markets for Wells Fargo.
Tim O’Hara will join the corporate and investment bank at Wells Fargo on May 9 as head of banking. In addition, Rob Engel, who has led banking since 2014 and joined Wells Fargo in 2005, will assume the new role of chairman of banking.
Ares Capital increased commitments under its revolving credit facility to approximately $4.8 billion and extended the final maturity date. The facility is led by JP Morgan, Bank of America, Truist, MUFG Bank, SMBC and Wells Fargo and includes a total of 39 lenders.
Wells Fargo named Jessica Lupovici head of the east region for its middle market banking division. Lupovici, who previously worked for JPMorgan Chase, will join Wells Fargo in April.
Wells Fargo appointed Derek Flowers chief risk officer. Flowers will lead all aspects of Wells Fargo’s independent risk management function, including compliance risk management.
Interfor closed an early renewal and expansion of its revolving credit facility with a syndicate of Canadian and U.S. banks co-led by RBC Capital Markets, TD Securities and Wells Fargo. The expansion increased the committed amount to $387 million.
JCPenney paid off its $506 million term loan and completed a refinancing of its asset-based loan and first in, last out facilities. Wells Fargo and PNC led the refinanced ABL facility, which totals $.175 billion, while Pathlight Capital led the FILO facility, which totals $340 million.