August 15, 2012

Wells Fargo is opening a new division that will focus on lending to regional and mid-sized builders, according to an Aug. 15 article in the Wall Street Journal. The loans are expected to finance small projects ($10 to $15 million) up to large corporate loans that can surpass hundreds of millions of dollars.

April 13, 2012

84 Lumber has finalized a $225 million senior secured revolving credit facility to refinance existing debt, and for general corporate purpose. Wells Fargo Capital Finance and PNC Bank and acted as joint lead arrangers. GE Capital acted as co-collateral and documentation agent for the loan.

84 Lumber chief financial officer Paul Lentz said the new facility will give 84 Lumber greater financial flexibility and liquidity as it continues to improve its business following the housing market crash.