Commercial banks
Sonic Automotive, Inc., a leading automotive retailer in the United States, has achieved efficiencies of scale through the consolidation of its retail lending sources. The company has introduced NationsBank and World Omni Financial Corporation, two prominent lenders, to its regional preferred Lending Group. NationsBank, with $308 billion in assets, is
Commercial banks
Bank of America, First Chicago NBD, and Societe Generale have successfully wrapped up syndication of a $900 million multicurrency reducing revolver for Applied Power, Inc. The new five-year facility will be used to refinance an existing loan and an existing $700 million revolver. The pricing for the new facility is
Commercial banks
The U.S. Postal Service has entered into contracts with four companies to operate 22 Mail Transport Equipment Service Centers, including one in Jacksonville, Florida. The service has signed a five-year, $245 million contract with DynCorp of Reston, Va., to operate the Jacksonville center, among others, with each center employing
Commercial banks
In a significant move for the open-source Linux operating system, Red Hat Software Inc., a leading Linux distributor, has secured financial backing from Intel Corp. and Netscape Communications Corp. This partnership highlights Linux's growing momentum and acceptance within the high-tech industry. Red Hat, known for its Linux distribution
Commercial banks
The University of Missouri at St. Louis has sold the iconic Mercantile Library Building in downtown St. Louis to NationsBank for $1.2 million, marking the end of an era for the 1908 banking tenant. The sale is a result of four to five years of negotiations between the university
Commercial banks
The proposed merger between NationsBank and Bank of America on September 24, 1998, is facing a major setback due to an ongoing lawsuit filed by Lone Star Partners in 1992. The lawsuit claims that NationsBank defrauded Lone Star Partners in its bid to acquire FirstRepublic Bank in 1988. A Texas
Commercial banks
NationsBank Corporation and BankAmerica Corporation are moving forward with their planned merger, despite a recent announcement by BankAmerica that may have raised questions about the deal's status. The merger is set to be considered by shareholders of both companies at meetings on September 24, with a closing date
Commercial banks
As part of the massive merger between NationsBank and Barnett Banks Inc., Republic Bank of St. Petersburg has acquired 29 branch buildings in Florida, marking a significant expansion of its network. The acquired branches, comprising 22 closed NationsBank branches and 7 fully functional Barnett branches, will be reopened as new
Commercial banks
As the global economy grapples with the crisis in Russia and Asia, banks in North Carolina are bearing the brunt of the plunge in financial stocks. The market value of NationsBank Corp. has dropped significantly, with its stock closing at $56.56, down 36 percent from its peak on July
Commercial banks
As the year 2000 draws near, small business owners are facing new challenges related to the Y2K computer dating problem. In response, various organizations have established support services to help entrepreneurs navigate this issue. The U.S. Small Business Administration (SBA) has introduced a fax-back service, and Sprint is offering
Commercial banks
Small business owners, particularly women, can gain valuable insights from two upcoming satellite-based conferences. The U.S. Small Business Administration, IBM Corp., and the Edward Jones investment firm are co-sponsoring these events to address specific topics tailored to women entrepreneurs. On Wednesday and November 16, participants will engage with experts
Commercial banks
First Chicago NBD, Fleet Bank, and BankAmerica, in their roles as administrative agent, syndication agent, and documentation agent, respectively, have allocated a significant $600 million credit facility for Dexter Corp. This allocation is a vital component of Dexter's plan to acquire its remaining equity interest in Life Technologies
