Wells Fargo said that James K. Vargo has joined its growing commercial banking team in Chicago as senior vice president and business development officer.
Medical Action Industries entered into a credit agreement for $65 million with Wells Fargo. The new credit facility refinances and replaces the previous agreement which had been scheduled to expire in June 2014.
At the sixth annual Education and Networking Conference sponsored by the New York Institute of Credit, the Philadelphia chapters of the Turnaround Management Association and Commercial Finance Association and the ABF Journal, four leaders in the commercial lending space offered their perspectives on today’s lending environment and provided observations from their respective areas of specialization.
Encore Capital Group closed a $100 million asset-backed revolver with Wells Fargo Bank. The facility will be used to finance the acquisition of tax lien certificates from municipalities in multiple states.
Staffing firm On Assignment said it closed a new $500 million credit facility with Wells Fargo serving as administrative agent, swing line lender and a letter of credit issuer.
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…
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.