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Today’s News
New ABL Manager Joins Banner Bank Commercial Banking Division
Banner Bank hired Gregg Marsicano as senior vice president, ABL manager. Previously, Marsicano served as SVP, BDO for Wells Fargo in the northwestern region of the U.S.
Commercial Finance Vet Joins Porter Capital as SVP
Porter Capital announced that Steven R. Bellah joined the company as senior vice president and national sales manager. The 20-plus year commercial finance veteran has held various executive positions with Wells Fargo and GE Capital, among others.
HFG Provides $15MM Debt Facility to InterDent
Healthcare Finance Group provided a $15 million revolver to InterDent, a provider practice management services to affiliated multi-specialty group dental practices. Proceeds provide capital for ongoing operations.
CIT Provides $33.3MM Financing to Spirit Bascom Ventures
CIT Real Estate Finance provided a $33.3 million senior secured loan to Spirit Bascom Ventures, a joint venture between New York-based Spirit Investment Partners and the Irvine, CA-based Bascom Group.
Bank of the West Leads American Vanguard Facility Expansion
American Vanguard entered into an amended and restated credit facility to support the global growth of its businesses. The Bank of the West-led lending group includes BMO Harris, Wells Fargo, Union Bank, Agstar Financial Services and Greenstone Farm Credit Services.
Hercules Tech Provides Debt Financing for Rockwell Medical
Rockwell Medical, a biopharmaceutical company, announced today that it closed a $20 million debt financing with Hercules Technology Growth Capital.
Fitch: Market Moves Bring Interest Rate Risks to Forefront
The recent rise in U.S. Treasury yields and speculation surrounding possible changes in the Fed’s bond buying program have highlighted the potential risks faced by U.S. banks in a rising rate environment, according to Fitch Ratings.
Crystal Financial Agents Facility for The Robbins Company
Crystal Financial announced the closing of a $57.1 million senior term loan for The Robbins Company, a developer and manufacturer of underground construction equipment.
BofA, Wells Fargo Arrange Hanger Refinancing
Orthotic and prosthetic distributor Hanger announced the signing of a new credit agreement that increases its senior secured facilities to $425 million from $400 million. BofA Merrill Lynch and Wells Fargo served as joint lead arrangers on the transaction.
WSJ: UK Prosecutors Likely to File LIBOR Charges
The Wall Street Journal reported that UK prosecutors are likely to file LIBOR manipulation charges against former UBS and Citigroup trader Tom Hayes for allegedly trying to manipulate benchmark interest rates.
Events
Jun 17, 2013: IFA AE/LO Training
Jun 20, 2013: IFA Law & Business of Factoring
Jul 10, 2013: ACG NY Annual SummerBash
Jul 11, 2013: ABI Northeast Bankruptcy Conf
Jul 15, 2013: IFA Women in Commercial Finance
Jul 17, 2013: TMA Western Regional Conf
- all events





