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Huntington Bancshares And TCF Financial Corporation Announce Merger To Create Top 10 U.S. Regional Bank
Huntington Bancshares Incorporated ("Huntington") (Nasdaq: HBAN; www.huntington.com), the parent company of The Huntington National Bank, and TCF Financial Corporation ("TCF") (Nasdaq: TCF; www.tcfbank.com), the parent company of TCF National Bank, today announced the signing of a definitive agreement under which the companies will combine in an all-stock merger with a total market value of approximately $22 billion to create a top 10 U.S. regional bank with dual headquarters in Detroit, Michigan and Columbus, Ohio.
Goldman Sachs & Co. LLC is serving as financial advisor to Huntington. Wachtell, Lipton, Rosen & Katz is serving as legal advisor to Huntington.
Keefe, Bruyette & Woods, a Stifel Company, is serving as financial advisor to TCF. Simpson Thacher & Bartlett LLP is serving as legal advisor to TCF.
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Encina Business Credit Provides $15 Million Facility to a Coal Mining Company
November 12, 2019Encina Business Credit, LLC (EBC) announced today that it has provided a $15 million commitment as part of a $135 million senior secured credit facility to a coal mining company. The company operates transloading and mining equipment facilities. The loan consists of a revolving line of credit secured by trade accounts receivable and inventory.
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Capital Southwest Supports Five Points Recapitalization of GrammaTech
November 11, 2019Southwest Corporation (“Capital Southwest”) (CSWC), an internally managed business development company focused on providing flexible financing solutions to support the acquisition and growth of middle market businesses, announced today that it supported the recent recapitalization of GrammaTech, Inc. (“GrammaTech”) by Five Points Capital, Pleasant Bay Capital, Crescendo Capital, new CEO Mike Dager, and existing management.
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MedShift Secures Financing to Accommodate Continued Expansion
November 11, 2019MedShift today announced the execution of a new $13.5 million credit facility with First National Bank (FNB). The investment will refinance all existing company loans and provide device acquisition capital to support MedShift's projected growth.
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City National Bank Appoints Rick Hariman to Succeed John Beale as Chief Information Officer
November 11, 2019City National Bank, America’s Premier Private and Business Bank®, today announced that Rick Hariman will join the company as executive vice president and chief information officer. Hariman will succeed John Beale, the current chief information officer, who has decided to retire in January after 23 years with City National.
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RPT Realty Announces Closing of Amended and Restated Unsecured Credit Agreement
November 11, 2019KeyBanc Capital Markets Inc., BMO Capital Markets, and Capital One, National Association served as joint-lead arrangers for the Facility with KeyBank National Association as administrative agent and BMO Capital Markets and Capital One, National Association as syndication agents. Branch Banking and Trust Company served as documentation agent.
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UMB Capital Finance Continues to Fund Millions in Senior Debt Capital Needs
November 11, 2019UMB Capital Finance, through Marquette Business Credit, LLC, continues to fund millions in senior debt capital needs with the recent closings of two asset-based credit facilities. These new, secured lines provide further financing resources for Midwest Quality Gloves, Inc. and TJ Hale Company, LLC.
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Monroe Capital Corporation BDC Announces Third Quarter 2019 Results
November 11, 2019Monroe Capital Corporation (Nasdaq: MRCC) (“Monroe”) today announced its financial results for the third quarter ended September 30, 2019.
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Electrovaya Closes Credit Facility Agreement to Finance Purchase Orders
November 11, 2019Electrovaya Inc. ("Electrovaya" or the "Company") (EFL.TO) (EFLVF) today announced that it has closed an agreement with a Canadian financial institution for a secured Cdn $5.5 million credit facility. The facility will support fulfilment of Electrovaya's recently announced purchase orders.
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Howard Brownstein Named Fellow of American Bar Foundation
November 10, 2019The Brownstein Corporation is pleased to announce that its CEO, Howard Brod Brownstein, has been named a Fellow of the American Bar Foundation. The Fellows of the American Bar Foundation (ABF) comprise a global honorary society of lawyers, judges, law faculty, and legal scholars who have demonstrated outstanding leadership in the profession and service to society.
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J D Factors Announces Factoring Facilities
November 10, 2019
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Stonebriar Closes its Largest Securitization Transaction To Date at $685 Million
November 10, 2019Stonebriar Commercial Finance (“Stonebriar”), a leading independent large-ticket commercial finance company, announced that it has closed its sixth commercial equipment asset-backed securitization (“ABS”), SCFET 2019-2, a $685 million ABS issuance with top tranches rated triple A.
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Lake City Bank Promotes Stephanie R. Leniski to head Retail Banking division
November 8, 2019Lake City Bank is pleased to announce that it has promoted Stephanie R. Leniski to Senior Vice President, Retail Banking Manager, a position in which she leads the Retail division for Lake City Bank, and joins the bank’s Management Committee. Leniski succeeds Kevin L. Deardorff, Executive Vice President, who has led the Retail Banking business since 1990.
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We're Branching Out! Industrial Bank Acquires City National Bank of New Jersey in Newark
November 8, 2019Since 1934, Industrial Bank has played a pivotal role in the growth and economic development of the Washington, DC metropolitan area through its essential products and services, customer care and community service. Today, the Bank announced it has acquired City National Bank of New Jersey, with two branches in New Jersey and one branch in Harlem, New York.
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Bank of Southern California Names Troy Perry Managing Director, Business Banking
November 8, 2019Bank of Southern California, N.A. (OTC Pink: BCAL), a community business bank headquartered in San Diego, is pleased to announce that Troy Perry has joined the company as Managing Director of Business Banking. He will be responsible for broadening Bank of Southern California's market presence by actively seeking new business opportunities throughout Los Angeles' Westside
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Wells Fargo Names William M. Daley Vice Chairman of Public Affairs
November 8, 2019Wells Fargo & Company (NYSE: WFC) today announced that William M. Daley has been named Vice Chairman of Public Affairs, effective November 13, 2019. Daley will serve on the Operating Committee and will report directly to CEO Charles Scharf.
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TAB Bank Provides Commercial Printing Company in Illinois with a $3 Million Asset-Based Credit Facility
November 8, 2019TAB Bank is pleased to announce it has provided a $3 million asset-based revolving credit facility for a commercial printing company located in Illinois. The new facility is extended through a multi-year agreement and will provide for the company’s ongoing working capital needs. The company provides print, marketing, and technology services for Fortune 500 clients.
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Metro Phoenix Bank Expands its National Outdoor Media Lending Footprint into Times Square
November 8, 2019Metro Phoenix Bank (MPHX) ("MPB") announced a sizable credit facility to Greyline Outdoor Advertising, further solidifying itself as a national leader in outdoor media lending. Greyline Outdoor Advertising is the 2nd largest outdoor advertising company in the greater Western New York region and is now expanding into New York City.
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McDermott Super-Senior Debt May Be Prelude to a Bankruptcy Loan
November 8, 2019McDermott International Inc.’s $1.7 billion super-senior credit facility could give an indication of terms if the struggling engineering and construction firm were to convert the debt into a bankruptcy loan. The facility consists of a $1.3 billion term loan and $400 million in letters of credit.
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RPT Realty Announces Closing of Amended and Restated Unsecured Credit Agreement
November 8, 2019KeyBanc Capital Markets Inc., BMO Capital Markets, and Capital One, National Association served as joint-lead arrangers for the Facility with KeyBank National Association as administrative agent and BMO Capital Markets and Capital One, National Association as syndication agents. Branch Banking and Trust Company served as documentation agent.
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CoreSite Announces Amended and Expanded Credit Facility
November 8, 2019CoreSite Realty Corporation (COR), a premier provider of secure, reliable, high-performance data center and interconnection solutions across the U.S., today announced that it has extended its debt maturity profile and expanded its credit facility with total borrowing capacity of $1.15 billion, including all arrangements with its syndicate of banks.
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