Yields Are up Across the Board, More so for Refis: Thomson Reuters LPC 

FirstService Corporation Increases its Revolving Credit Facility to $500 Million from $350 Million; The $150 Million Increase was Oversubscribed by its Syndicate of Banks Including TD Bank, J.P Morgan Chase Bank, Bank of Montreal, Bank of Nova Scotia, HSBC Bank Canada, Bank of America, US Bank, Canadian Imperial Bank of Commerce, National Bank of Canada and The Royal Bank of Canada

 

Firestone Financial Relocates, Closes New Multiyear Credit Facility; The Bank Group is Led by RBS Citizens N.A., and Lenders Include Wells Fargo Bank National Association, Bank of America N.A., People's United Bank, Rockland Trust Co., TD Bank N.A., Brookline Bank, Berkshire Bank and Webster Bank

 

 

 

 

CNO Financial Group Completes Amendment to Senior Secured Credit Facility

 

London-listed Drugmaker Shire Plc Secures a $5 Billion Credit Facility for a Takeover Offer for New-Jersey-based NPS Pharmaceuticals

AppDynamics Raises $50 Million in Venture Debt as it Copes With Growth; The Money, Which Includes Both Mezzanine Term Financing and a Revolving Line of Credit, Raised in February and Comes From Silicon Valley Bank

Prospect Capital Provides $65 Million of First-lien Floating Rate Debt to Support the Acquisition of Fleetwash by DFW Capital

Crossroads Financial is pleased to announce that it has provided a $3,000,000 inventory financing facility for the benefit of retail chain of arts and craft stores.  The retailer, hit hard by the downturn and loss of foot traffic during the winter time, was asked to find an alternative financing solution when the incumbent lender asked the retailer to exit the relationship due to a breach in loan covenants.  Crossroads Financial was able provide an Inventory revolving facility to take out the incumbent lender while also providing additional working capital to assist the business in acquiring Inventory to stock the shelves. 

"Crossroads has been pushing a retail Inventory product to serve the needs of business who can't access traditional sources" commented Lee Haskin, CEO of Crossroads.  "There are very few, if any, options for retail and e-commerce businesses who do not meet the criteria of a traditional asset based lender.  Crossroads strives to be a resource for any wholesaler, manufacturer, or retailer who needs inventory financing or purchase order financing."

Bank Leumi USA is pleased to announce the opening of its new branch office in downtown Los Angeles at: 555 West Fifth Street, 33rd floor. Bringing the bank's three LA area branches into a single location will provide more efficient, client-focused service to ensure that client needs are met.

For nearly 40 years, Bank Leumi USA has served the Los Angeles community with branches in Los Angeles, Beverly Hills and Encino. By moving to a single new location, the bank will strengthen its resources and teams to provide holistic banking and investing services to its commercial and private banking clients.

"We are proud to build on our decades of service to the Los Angeles community with our new office," says Avner Mendelson, president and CEO of Bank Leumi USA. "Bringing our teams together in one location reinforces the services our clients rely on, and offers the support our customers - and prospective customers - need in their business and investments today."

The new branch office will benefit clients through expanded commercial business services in key areas, such as Healthcare, Commercial Real Estate, Apparel, Technology and more. Similarly, private banking clients will benefit from innovative solutions and broker-dealer services through Leumi Investment Services Inc. (LISI).

Milbank, Tweed, Hadley & McCloy LLP has represented the underwriters in connection with the $1 billion offering of senior unsecured notes by leading global medical technology company CareFusion Corp. (NYSE: CFN).  It was Carefusion's first registered debt offering since being spun off in 2009 from Cardinal Health, Inc.

Global Securities partner Rod Miller led the team representing Barclays, Bank of America Merrill Lynch and J.P. Morgan as representatives of the several underwriters. The investment-grade offering, which closed on May 22, consisted of the following three tranches: $300 million of senior notes that will mature in 2017 and will bear interest at an annual rate of 1.450%; $400 million of senior notes that will mature in 2024 and will bear interest at an annual rate of 3.875% and $300 million of senior notes that will mature in 2044 and will bear interest at an annual rate of 4.875%. 

San Diego-based CareFusion Corp. is a global corporation serving the health care industry with products and services that help hospitals measurably improve the safety and quality of care. It plans to use a portion of proceeds from the offering to repay at maturity $450 million in outstanding principal on 5.125% senior notes due 2014, and the remaining proceeds for general corporate purposes.

Miller was assisted on the transaction by Tax partner Andrew Walker and associates Jessica Cunningham, Susan Yanes, Donald Canavaggio and Erika Hauser.