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.
Resolute Forest Products reset the five-year maturity of its senior secured asset-based revolving credit facility with an aggregate lender commitment of up to $450 million. A syndicate of six banks provided the ABL credit facility, with Bank of America as administrative agent and collateral agent.
Wells Fargo named Mike Riley and Dan Thomas co-heads of the markets division of its corporate and investment bank. Riley and Thomas will lead all of Wells Fargo’s corporate and investment bank’s markets-driven activities, including asset-backed finance.
The Children’s Place refinanced its revolving credit facility and term loan with a new lending group led by an affiliate of Wells Fargo. The new debt consists of a revolving credit facility with $350 million of availability and a $50 million term loan.
Wells Fargo named Priscilla Wallace head of supplier diversity. Wallace has more than two decades of supply chain and diversity, equity and inclusion experience. She joined Wells Fargo from Foodbuy – Compass Group.
Wells Fargo unveiled the new organizational structure for its restaurant finance banking team, with Meghan Hinds tapped to lead the team.
Wells Fargo promoted Kristin Lesher, a 21-year veteran of the company, to lead middle market banking. Lesher previously led middle market operations across 19 states, Washington, D.C., and eastern Canada as head of the east region for the company.
Wells Fargo appointed Vanessa Rodriguez to lead community lending and investment within its commercial real estate group. During her 20-year career with Wells Fargo, Rodriguez has held various relationship manager roles.
SmartStop Self Storage exercised $200 million of its accordion under its existing multi-currency credit facility with a syndicate of banks led by KeyBank, Wells Fargo, Citibank and Bank of Montreal. KeyBanc Capital Markets and KeyBank served as joint lead arrangers and administrative agents.