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SunTrust Robinson Humphrey hires four to capital markets team

SunTrust Robinson Humphrey has hired four finance industry executives to its capital markets team. The firm hired Ron Caldwell and Akis Psarris as managing directors, and Ricardo Simon and Matt Holbrook as directors. Caldwell joins SunTrust Robinson as head of Healthcare Syndicated & Leveraged Finance after 14 years at Bank of America Merrill Lynch. Psarris has joined the firm’s Liability Management practice from Lloyds Bank. Simon, who will head up SunTrust Robinson’s Commercial Real Estate & REIT Syndicated Finance practice, came from Wells Fargo, and Holbrook joins the Syndicated & Leveraged Finance group from Bank of America Merrill Lynch.

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Buyout loan trends may reflect Fed, OCC disparities: TRLPC

Scrutiny by U.S. regulators is reshaping the leveraged loan market as bankers complain that the Office of the Comptroller of the Currency enforces leveraged lending guidance more stringently than the Federal Reserve, sister service Thomson Reuters Loan Pricing Corp reports.

Reuters – Wells Fargo Ramps Up PE Despite Volcker Rule

Wells Fargo is ramping up its private equity business in spite of the Volcker Rule, writes Reuters. The bank invests in buyouts and venture capital deals largely on its own, with capital only from Wells Fargo itself and some employees, writes Reuters.

new dawn

peHUB First Read

This morning find out more about the rise and rise of the angels; KKR’s interest in Geon and meet 14 new Rock Health start-ups.

Carlyle Group Closes $620 Million CLO

The Carlyle Group has closed a $620 million collateralized loan obligation (CLO) fund, the firm’s fourth new-issue CLO in less than a year. Carlyle Global Market Strategies CLO 2012-4 will invest in corporate leveraged loans and high yield bonds. Wells Fargo arranged the transaction.

Bojangles Refinances Senior Debt

Bojangles’ Restaurants has announced a refinancing of its $200 million senior debt facility, significantly lowering its borrowing costs. Bank of America Merrill Lynch served as lead arranger with Wells Fargo, Fifth Third Bank and Regions Bank as joint lead arrangers. KeyBank, Cadence Bank and Royal Bank of Canada also participated in the facility.

Boathouse Backs Florida-Based Energy Planning Experts

Philadelphia-based middle market mezzanine debt and equity fund Boathouse Capital has backed Florida-based Energy Planning Associates. Boathouse Capital invested $6.0 million of subordinated debt, along with capital from EPAC’s founders and co-principals Mike Brennan and Jason Plourde. Wells Fargo provided senior debt financing. PRESS RELEASE Boathouse Capital, a middle market mezzanine debt and equity investment […]

Parthenon Cap To Acquire Well Fargo’s Vest Financial

Parthenon Capital Partners agreed Thursday to acquire Wells Fargo & Co.’s H.D. Vest Financial Services business.  H.D. Vest’s existing management team, led by Roger Ochs, will continue to operate the Irving, Texas, business.No financial terms were disclosed. PRESS RELEASE Parthenon Capital Partners and Wells Fargo & Company (NYSE: WFC) have entered into a definitive agreement […]

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Wells Fargo Adds New Head of West Coast Tech M&A

NEW YORK, May 4 (Reuters) – Wells Fargo Securities, part of Wells Fargo & Co., said on Wednesday it has hired John Jinishian to head up its West Coast technology mergers and acquisitions group.

Wells Fargo has been on a hiring spree lately; earlier this week Reuters reported JPMorgan’s Mark Solomons and Akhil Ahuja joined the bank’s tech banking team.

West Coast Tech Bankers Split from JPMorgan

NEW YORK, May 2 (Reuters) – JPMorgan Chase & Co. lost two West Coast technology investment bankers to competing firms last week, according to a source familiar with the matter. Mark Solomons, a managing director who was responsible for technology mergers and acquisitions at JPMorgan, will be joining Morgan Stanley’s technology group in Menlo Park, […]

Wells Fargo Sues Lone Star Over Accredited Deal

(Reuters) – Wells Fargo Bank sued Lone Star Funds alleging that the private equity firm, which won the bid to buy Accredited Home Lenders Holding Co in 2007, implemented a deliberate scheme to purchase the firm for significantly less than the auction price. Shortly after entering into a merger agreement with Accredited, Lone Star made […]

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Wells Fargo Doubles Down on Norwest Venture Partners, Commits $1.2B

Wells Fargo has committed $1.2 billion to venture capital affiliate Norwest Venture Partners, nearly doubling the amount it had invested just three years earlier. Norwest Venture Partners will invest the money in technology startups and other growth-stage private companies based in the U.S., India, Israel and China over the next three to four years, says […]

Extended Stay Investors Sue BoA, Wells Fargo

NEW YORK (Reuters) – Investors who bought debt that helped finance an $8 billion buyout of the now troubled Extended Stay hotel chain have sued banks that provided much of the financing, accusing them of scheming to seize the properties and wipe them out. The case stems from Lakewood, New Jersey-based Lightstone Group LLC’s purchase […]

Wells Fargo Suspends Bonuses for Top Execs

NEW YORK (Reuters) – Wells Fargo & Co has halted its bonus program for a handful of top executives, the bank said in a regulatory filing on Friday. Chief Executive John Stumpf, Chief Financial Officer Howard Atkins, Chairman Richard Kovacevich and senior executive vice presidents David Hoyt and Mark Oman will not receive cash bonuses, […]

To DIP, Or Not To DIP?

I’m confused. I hear all kinds of doom and gloom about how bankrupt companies can’t find debtor-in-possession (DIP) financing. They’ll be forced into Chapter 7 liquidation! Everybody panic!

But then I see stories like this, where lenders insist, “By no means is the DIP market really dead.” For example, Kevin Phillips of Bank of America says that putting new money into the DIP market is “exciting” at the moment, Dealscape reports.

So what is it? DIP or no DIP? I asked a mid-market lender to clear things up. For starters, there are different approaches to DIP lending. There’s defensive lending, which is when you’re already exposed

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