Wells Fargo Agents Canyon Midstream $50MM Facility
Canyon Midstream Partners said it secured a $50 million credit facility with Wells Fargo as administrative agent. Wells Fargo Securities was sole lead arranger with RBC acting as syndication agent.
Canyon Midstream Partners said it secured a $50 million credit facility with Wells Fargo as administrative agent. Wells Fargo Securities was sole lead arranger with RBC acting as syndication agent.
Papa Murphy’s said it closed on a new $132 million facility that resulted in a 200 bps reduction in borrowing costs. GE Capital Markets was said to be the sole lead arranger for the refinancing.
Tim Hortons and Burger King said they will merge, creating the third largest quick service restaurant company. Burger King obtained commitments for a $9.5 billion financing package led by JPMorgan and Wells Fargo.
BlueLinx Holdings said it entered into an amendment to its U.S. revolver with a syndicate of banks led by Wells Fargo. The amendment extends the $20 million loan component through a maturity date of June 2015.
Wells Fargo announced Barry Sturdivant has joined the company’s National Food and Agribusiness division and will lead its initiative in the U.S. nursery and greenhouse industry.
Wells Fargo reported Q2/14 net income of $5.7 billion was up from $5.5 billion in Q2/13. The bank noted a Q2/14 provision for credit losses of $217, which was down $435 million from $652 million reported in Q2/13.
Bloomberg reported Revel AC and Wells Fargo resolved unsecured creditors’ objections to a sale process.
Bloomberg reported that Wells Fargo is at risk of ending a 17-quarter streak of rising per-share profits as an industrywide revenue slump overcomes one-time gains and cost cuts.
Charles & Colvard said it has closed a new $10 million asset-backed credit facility with Wells Fargo. The company’s previous facility with PNC was terminated concurrent with the closing of the new facility.
The Wall Street Journal reported that internal memos reveal Wells Fargo & Co. is making some changes to its capital finance team in an effort to expand the business.