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Business Wire
4 days ago
- Business
- Business Wire
Sprouts Farmers Market, Inc. Revises Credit Facility
PHOENIX--(BUSINESS WIRE)--Sprouts Farmers Market, Inc. (Nasdaq: SFM) today announced the closing of a $600 million revolving credit facility (the 'Revolving Credit Facility') under a credit agreement dated as of July 25, 2025. The Revolving Credit Facility refinances the company's previous $700 million revolving credit facility, which was replaced in connection with Sprouts' entry into the Revolving Credit Facility. The Revolving Credit Facility contains terms and conditions substantially similar to the company's previous facility, with a commitment expiration date of July 2030, revised pricing terms for loans and commitments thereunder, and additional covenant flexibility. At closing, Sprouts had no outstanding borrowings and letters of credit of $23 million outstanding under the Revolving Credit Facility, with a remaining availability of $577 million. 'While we plan to continue to fund operations and unit growth through our robust cash flow generation, this facility provides Sprouts with financial flexibility as we grow,' said Curtis Valentine, chief financial officer of Sprouts. JPMorgan Chase Bank, N.A., acted as administrative agent, issuing bank, and swingline lender. JPMorgan Chase Bank, N.A., Truist Securities, Inc. and PNC Capital Markets LLC acted as joint lead arrangers and joint bookrunners, Truist Bank and PNC Bank, National Association, acted as co-syndication agents, and Bank of America, N.A., BMO Bank, N.A., and U.S. Bank, National Association acted as co-documentation agents. Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and federal securities laws, and we intend that such forward-looking statements be subject to the safe harbor created thereby. Such forward-looking statements include, among others, our plans regarding unit growth and cash flow generation as well as our company growth. Forward-looking statements are based on our beliefs as well as assumptions made by, and information currently available to, us. The risks and uncertainties to which the forward-looking statements are subject include, without limitation, adverse impacts due to general economic conditions that impact consumer spending or result in competitive responses, our ability to maintain or improve our operating margins, and other risks detailed in the 'Special Note Regarding Forward-Looking Statements,' 'Risk Factors,' and other sections of our Annual Report on Form 10-K and other filings with the Securities and Exchange Commission. Except as required by applicable law or regulation, we disclaim any obligation, and do not intend, to publicly update or review any of our forward-looking statements, whether as a result of new information, future events, or otherwise. Corporate Profile True to its farm-stand heritage, Sprouts offers a unique grocery experience featuring an open layout with fresh produce at the heart of the store. Sprouts inspires wellness naturally with a carefully curated assortment of better-for-you products paired with purpose-driven people. The healthy grocer continues to bring the latest in wholesome, innovative products made with lifestyle-friendly ingredients such as organic, plant-based and gluten-free. Headquartered in Phoenix, and one of the largest and fastest growing specialty retailers of fresh, natural and organic food in the United States, Sprouts employs approximately 35,000 team members and operates more than 450 stores in 24 states nationwide. To learn more about Sprouts, and the good it brings communities, visit
Yahoo
06-06-2025
- Business
- Yahoo
NORDAM Completes Comprehensive Debt Refinancing
TULSA, Okla., June 06, 2025--(BUSINESS WIRE)--The NORDAM Group LLC ("NORDAM" or the "Company") announced it repaid the remaining outstanding principal amount of its Term Loan B issued on 9 April 2019. The instrument was refinanced by the issuance of a new $225mm private credit term loan, due 2031. The new term loan was provided by a group of lenders led by Crestline Investors, Inc. with Crestline Direct Finance, L.P. serving as the Administrative Agent. JPMorgan Chase Bank, N.A. and Huntington Business Credit, arranged the facility as Joint Lead Arrangers and Bookrunners. Additionally, the Company entered into a new $100mm ABL revolving credit facility, due 2030, provided by JPMorgan Chase Bank, N.A. and Huntington Business Credit. "This is an important milestone for NORDAM as we embark on our next chapter of growth," said NORDAM CEO Meredith Siegfried Madden. "We are pleased to secure backing from Crestline and additional lending investors and look forward to providing world-class products and services to our valued customers. With Crestline's partnership, we believe we are well positioned to execute on our strategic plan, expand our business and take advantage of the many growth opportunities that lie ahead." Michael Aingorn, Senior Managing Director at Crestline Investors, Inc. commented, "We are impressed by NORDAM's strong position in the aerospace value chain and are excited to partner with Meredith and her team to support the Company's future growth. We believe that NORDAM's manufacturing expertise and deep customer relationships position the Company well to capitalize on the continued growth in the aerospace industry." NORDAM was advised by Davis Graham & Stubbs LLP. Paul Hastings LLP served as legal advisor to Crestline Investors, Inc. while Simpson Thatcher & Bartlett LLP advised JPMorgan Chase Bank, N.A. and Huntington Business Credit. ABOUT NORDAM Founded in 1969 on family values and now employing 2,500 people across multiple, strategically-located operations and customer support facilities around the world, Tulsa-based NORDAM is one of the largest independently owned aerospace companies. The firm designs, certifies and manufactures integrated propulsion systems, nacelles and thrust reversers for business jets; builds composite aircraft structures and spacecraft components, interior shells, custom cabinetry and radomes; and manufactures aircraft transparencies, such as cabin windows, wing-tip lens assemblies and flight deck windows. NORDAM also is a major third-party provider of maintenance, repair and overhaul services to the military, commercial airline and air freight markets. Learn more at ABOUT CRESTLINE INVESTORS Crestline Investors, Inc. is an alternative investment management firm founded in 1997 and based in Fort Worth, Texas, with affiliate offices in London, New York, Toronto, and Tokyo. The firm has approximately $18 billion in assets under management (as of December 31, 2024), and is specialized in private credit strategies, offering a diverse range of investment solutions across its direct lending, opportunistic, and portfolio finance platforms. For more information, visit View source version on Contacts NORDAM Media Relations +1 918-878-4000MarCom@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
15-05-2025
- Business
- Yahoo
Jamie Dimon isn't ruling out a recession yet
JPMorgan Chase Bank (JPM) CEO Jamie Dimon is warning that a recession isn't 'off the table' despite the recent trade truce between the United States and China. Dimon made the comments in an interview with Bloomberg TV while attending JPMorgan's annual Global Markets Conference in Paris and cited the global geopolitical tensions as a variable to watch. 'The geopolitical situation is very tense, very difficult, and hard to resolve,' he said of the trade wars and the military conflicts currently rattling the globe. He did also note that some of the uncertainty shadowing the markets pre-dates the Trump administration, citing large deficits, inflation, and higher interest rates. 'I will defer to economists who give it about a 50 percent chance,' Dimon said, adding that all of the geopolitical uncertainty is inflationary and slowing the economy. His comments also come amid the slowing of consumer spending, which some economists worry could tip the nation into a recession. Data released Thursday by the U.S. Census Bureau show that overall consumer spending was flat in April, rising 0.1 percent after rising 1.7 percent in March. The report noted that there may have been no increase at all in April and that the .01 is within the survey's margin of error. Sporting goods and hobby stores saw sales trend downward by 2.5 percent, leading the declines, while spending at department stores fell 1.4 percent. Economists say that a continued de-escalation of the U.S.-China trade war would help relieve the economic pressure. Goldman Sachs (GS), for instance, lowered its odds of a recession in the U.S. this year from 45 percent to 35 percent on Tuesday in the wake of the easing of the tariffs between the two countries. For the latest news, Facebook, Twitter and Instagram.
Yahoo
08-05-2025
- Yahoo
Man accused of fatal Urbana hit-and-run charged with federal identity crimes
URBANA, Ill. (WCIA) — The man accused of a fatal hit-and-run that killed two women in Urbana is now charged with federal false identification crimes. On Tuesday, a federal grand jury indicted 29-year-old Julio Cucul-Bol, a Guatemalan national, on charges of possessing a false permanent resident card, possessing a false Social Security card, false use of a passport and making a false statement on a bank application. He is associated with addresses in both Rantoul and Urbana. 'We're broken'; Family of Urbana deadly crash victim reflects on a life cut short This indictment alleges that on Nov. 10, 2023, Cucul-Bol falsely stated that his name was Juan Jahaziel Saenz Suarez in an application to JPMorgan Chase Bank and also falsely used a passport. It also alleges that on Jan. 19, 2025, Cucul-Bol possessed a Permanent Resident card and a Social Security card that were both fake. If convicted of false use of a passport, possession of a false social security card and possession of a false permanent resident card, he would face maximum statutory penalties of up to 10 years in prison, up to a $250,000 fine and up to three years of supervised release on each count. Additionally, the penalties for making a false statement on a bank application are up to 30 years in prison, up to a $1 million fine and up to five years of supervised release. Young woman visiting friends at University of Illinois killed in Urbana hit-and-run crash Cucul-Bol is already facing over 20 years in prison for the seven counts he was arraigned on regarding the hit-and-run crash on Jan. 19. Participating agencies in the federal investigation include the Department of Homeland Security, Homeland Security Investigations and the Urbana Police Department. Assistant U.S. Attorney William J. Lynch is representing the government in the prosecution. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. For the latest news, weather, sports, and streaming video, head to
Entrepreneur
06-05-2025
- Business
- Entrepreneur
Skechers Goes Private in USD 9.4 Bn Buyout Deal
The transaction, set to close in Q3 2025, will be financed through a mix of equity from 3G Capital and debt arranged by JPMorgan Chase Bank. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Footwear brand Skechers has agreed to be acquired by investment firm 3G Capital in a USD 9.4 billion deal, the company announced Monday. The all-cash offer values Skechers at USD 63 per share—a 28% premium over its last closing price—prompting a 25% premarket surge in its stock to USD 61.90. The buyout comes as Skechers struggles with uncertainty stemming from escalating US-China trade tensions. Last month, the company withdrew its annual forecast, citing the Trump administration's tariff hikes and erratic trade policy. US tariffs on Chinese imports, a key supply source for Skechers, have soared to 145%, heavily impacting the brand's margins. 3G Capital, controlled by Brazilian billionaire Jorge Paulo Lemann, is best known for major deals in the food and beverage sector, including Kraft Heinz. This marks a significant expansion into retail footwear. The transaction, set to close in Q3 2025, will be financed through a mix of equity from 3G Capital and debt arranged by JPMorgan Chase Bank. As Skechers prepares to go private, the deal signals a strategic reset for the brand amid ongoing geopolitical and economic headwinds.
