Oxford Finance Supports Diversis Capital Acquisition

April 26th, 2016
Oxford Finance closed a senior credit facility with Diversis Capital, a private equity firm focused on acquiring and growing small- and middle-market companies. Oxford was the sole lender and administrative agent for this transaction. Funds were used to acquire Caligor Rx, a provider of comparator drugs for clinical trials Original post: Oxford Finance Supports Diversis Capital Acquisition

KeyCorp Reports Lower Q1 Earnings; Asset Quality Impacted by Oil & Gas

April 25th, 2016
KeyCorp reported Q1/16 net income from continuing operations of $182 million, down from $222 million in Q1/15. During Q1/16, Key incurred merger-related expense totaling $24 million See the rest here: KeyCorp Reports Lower Q1 Earnings; Asset Quality Impacted by Oil & Gas

Wellfleet Credit Partners Completes Second CLO Offering

April 25th, 2016
Wellfleet Credit Partners closed a $358.5 million collateralized loan obligation, referred to as Wellfleet CLO 2016-1. Wellfleet CLO 2016-1 represents the second CLO issuance for Wellfleet, the performing credit business of Littlejohn & Co, a private investment firm. Wellfleet’s debut $360 million CLO, Wellfleet CLO 2015-1, closed in September 2015. Read more: Wellfleet Credit Partners Completes Second CLO Offering

Fifth Third Q1 Earnings Hurt by Energy Loan Related Provisioning

April 25th, 2016
Fifth Third Bancorp reported Q1/16 net income, after preferred dividends, was $312 million compared to $346 million in Q1/15. The following highlights were excerpted from the news release: Average commercial leases for the Q1/16 period end of $3,874 million was up 4% compared to $3,715 million at the end of the same period in 2015. Provision for Q1/16 loan and lease losses of $119 million was up 72% from $69 million in the same quarter one year earlier Continue reading ...

Reuters: Major Regional Banks Prepare for Energy Loan Losses

April 25th, 2016
According to Reuters , five U.S. regional banks put aside millions of dollars during Q1/16 to cover potential losses from loans to the energy sector. See original here: Reuters: Major Regional Banks Prepare for Energy Loan Losses
Posted under: Banks Business loan Loans

Webster Promotes Five Bankers to SVP

April 22nd, 2016
Webster Bank has promoted five bankers who have demonstrated proven results to senior vice president. Frank Castagna, credit executive in the Chief Risk Officer Group, joined Webster in 1998 as a senior underwriter and has 27 years of experience in banking. In his new position, he manages the underwriting process for the Business Banking group and manages a team of 10. Excerpt from: Webster Promotes Five Bankers to SVP