Today’s News

Last Updated: Tuesday, June 18, 2013, 4:42 pm

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.

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