IO, a software-defined data center provider, announced the closing of a new $260 million multi-year credit facility led by Wells Fargo. Wells Fargo Securities, BMO Capital Markets, J.P. Morgan, Merrill Lynch and RBC Capital Markets served as joint lead arrangers.
Wells Fargo Capital Finance acted as administrative agent on a $100 million revolver and a $10 million term loan for specialty retailer Floor and Decor Outlets of America.
Earlier today (5/3/13), abfjournal.com posted a story based on a news release from Erickson Air-Crane that announced it entered into a new $100 million revolving credit facility with a Wells Fargo-led group of financial institutions.
In a subsequ…
Growing International Presence… Coverage in Many Countries Benefits Wells Fargo Trade Capital Finance
The ABF Journal last met with Stuart Brister in 2010 to discuss the ABL “powerhouse” called Wells Fargo Capital Finance that resulted from the Wells Fargo-Wachovia merger. Today, we ask Brister, president of the Trade Capital Finance Division, and John Marrinson, regional credit manager of the Purchase Order Finance Group, to discuss how the acquisition and the global and domestic economies have affected the company’s international finance endeavors.
When it comes to capital markets issuance, ABF Journal turned to Wells Fargo Capital Finance’s Dorothy M. Killeen to explain where asset-based loans fit in the grand scheme of things. In the following Q&A, Killeen explains the differentiating characteristics of various ABL combinations.
As an education major turned asset-based lender Peter Schwab learned his lessons well along the way. ABF Journal spent time with Schwab to find out more about the defining events of his career and the legacy he leaves behind at Wells Fargo Capital Finance. And while the deals factored heavily in his success, it’s the people he led that mattered most.
In 2003, John Schmidt, Mike Gallagher and Chuck Lillis founded Castle Pines Capital to design and manage channel finance programs for technology equipment manufacturers and distributors. The new company received its first bank financing in 2005 from the Lender Finance Division of Wells Fargo Capital Finance. By 2011, both borrower and lender had come to know each other’s businesses so well that an acquisition was a natural progression.
There was something fishy going on at Massachusetts-based Ocean Fresh Seafood, and it wasn’t just the inventory. By the time Wells Fargo auditors found the source of the smell, they’d been defrauded out of at least $7 million, and the man who allegedly orchestrated the scheme was in the wind. Here’s how it played out…
The Commercial Finance Association’s (CFA) Annual Convention is the largest gathering of asset-based lending and factoring professionals and that offers networking and educational opportunities. The 66th Annual Convention will be held October 20-22, 2010 at the Sheraton Chicago, and is certain to attract professionals from many countries and disciplines to collaborate on issues in commercial lending.
In this issue, we explore the “new” world of Wells Fargo Capital Finance in a roundtable discussion with seven of its senior-most executives. Here we learn how the acquisition of the former Wachovia Capital Finance group has resulted in an ABL powerhouse that’s certain to prove the whole can indeed be greater than the sum of its parts.