• KBRA DLD Forecasts 2.75% Direct Lending Default Rate in 2024 for Private Equity-Backed Companies; Report Notes YTD Sponsored Rate Rises to 2.1% From 1.9%
    December 18, 2023
    Momentum continued through November and pushed volume in the KBRA DLD Private Data set to $22 billion, making it the third consecutive month of volume greater than $20 billion. At $127.1 billion through November, YTD volume still falls short of the $131.8 billion in the same period last year. Managers need to put another $17.7 billion on the board this month in order to match last year’s $144.8 billion full-year figure.
  • Eiffel Investment Group Supports Electra and its Growth With €27m Bridge Financing
    December 18, 2023
    Eiffel Investment Group, asset manager with €5.5 billion assets under management, teams up with Electra, European specialist in electric vehicles fast-charging, to accelerate the construction of charging stations in France. The deal aims to support the development of more than 100 high-power (>150 kW) charging stations, i.e. over 600 additional charging points in France, for a total amount of 27 million euros.
  • AITX Expands Fleet Offering as Acquisition of SMBC Rail Services Closes
    December 18, 2023
    Deutsche Bank Securities Inc. served as lead financial advisor, Citi served as senior financial advisor, JP Morgan, Goldman Sachs and RBC Capital Markets LLC also provided advisory services to ITE Management. The acquisition financing is led by Bank of America as administrative agent and supported by a group of arrangers and lenders including Bank of America, Deutsche Bank, Goldman Sachs, Royal Bank of Canada, Sumitomo Mitsui Banking Corporation, and Citi. Willkie Farr & Gallagher LLP and Vedder Price LLP served as legal advisors to ITE Management.
  • Mountain Ridge Capital Provides $15 Million Credit Facility to Consumer Beverage Company
    December 18, 2023
    Mountain Ridge Capital (“MRC”) is pleased to announce the closing of a $15 million senior secured credit facility for a category-leading international consumer beverage company.
  • ARM Energy and Rabobank Successfully Upsize Credit Facility to $160 Million
    December 18, 2023
    ARM Energy Services, LLC (AES), one of the largest private North American physical natural gas marketers, and Rabobank, a premier global food and agribusiness bank and a leading financier of the energy transition, have amended their senior secured credit facility, increasing the revolving credit capacity by an additional $50 million to $160 million.
  • FrontWell Capital Partners Provides USD$6 Million Senior Secured Credit Facility to Armored Republic Holdings LLC
    December 18, 2023
    FrontWell Capital Partners Inc. (“FrontWell”) today announced the closing of a USD$6 million secured credit facility with Armored Republic Holdings LLC. (“Armored Republic”), a manufacturer of ballistic armor and body armor solutions.
  • Bluebird Network Secures $285M in Senior Secured Credit Facilities
    December 18, 2023
    Bluebird Network, a communications infrastructure provider and operator of more than 11,000 miles of fiber and two data centers, announces that it has received $285 million of five-year Senior Secured Credit Facilities.
  • Hughes Pittman & Gupton Combines with EisnerAmper
    December 18, 2023
    Global business advisory firm EisnerAmper announces that the partners and colleagues of accounting, tax, and business consulting firm Hughes Pittman & Gupton, LLP ("HPG"), are joining EisnerAmper in a transaction expected to close in the spring of 2024. In a separate transaction, HPG's wealth management practice, HPG Wealthcare Advisors, will transition to Prosperity, an EisnerAmper Company, later in 2024.
  • Frederick O. Terrell to join the Corporate & Investment Bank as Vice Chairman of Investment Banking
    December 18, 2023
    Wells Fargo & Company (NYSE: WFC) today announced that Frederick O. Terrell will join the Corporate & Investment Bank (CIB) as vice chairman of Investment Banking on January 2, 2024.
  • KKR Acquires $7.2 Billion Portfolio of Prime Recreational Vehicle Loans
    December 18, 2023
    KKR, a leading global investment firm, today announced that funds and accounts managed by its credit business have led the purchase of a $7.2 billion portfolio of super-prime recreational vehicle (RV) loans from BMO Bank National Association, part of BMO Financial Group (“BMO”).
  • First Citizens Bank Equipment Finance Names Joy Shanks Head of Business Development
    December 18, 2023
    First Citizens Bank today announced that its Equipment Finance business has named Joy Shanks as senior vice president and head of business development dedicated to supporting and growing equipment finance vendor acquisition business.
  • SellersFi Closes Credit Facility up to $300M with Citi and Fasanara Capital
    December 14, 2023
    SellersFi, a global, cutting-edge financial technology startup, closed a new US credit facility with Citi and independent asset manager Fasanara Capital for $135MM with the potential to grow up to $300M as SellersFi expands. Citi provides the senior capital while Fasanara provides junior capital in the transaction.
  • The GEO Group Amends Senior Revolving Credit Facility
    December 14, 2023
    The GEO Group (NYSE: GEO) (“GEO” or the “Company”) announced today the closing of a Refinancing Revolving Credit Commitments Amendment ("Amendment") to its Credit Agreement dated as of August 19, 2022, providing for the refinancing of all of GEO's outstanding revolving credit facility commitments. The Amendment provides for approximately $265 million in refinancing revolving credit commitments maturing on March 23, 2027.
  • iSun Inc. Secures $8.0 million Term Loan
    December 14, 2023
    iSun, Inc. (NASDAQ: ISUN) (the "Company," or "iSun"), a leading solar energy and clean mobility infrastructure company with 50-years of experience accelerating the adoption of innovative electrical technologies, today announced the closing of an $8.0 million senior secured loan with Decathlon Capital Partners, the country’s largest revenue-based funding investor, to refinance in full the prior senior secured convertible facility which had become overly dilutive.
  • SLR Equipment Finance Expands its Business Development Capabilities and Announces that Jeffrey Schaefer has Joined the Company
    December 14, 2023
    SLR Equipment Finance is pleased to announce Jeffrey Schaefer has joined our company as Associate Vice President, Direct Sales. In his role, Jeffrey will help grow SLR Equipment Finance’s leasing and lending activities in Texas, Louisiana, New Mexico, Colorado, Oklahoma, Arkansas, Kansas, Missouri, Illinois, Iowa, Nebraska, South Dakota, North Dakota, Minnesota & Wisconsin. Jeffrey began his career with North America Commercial Financing.
  • Hidden River Partners with Diamond Blade Warehouse in its Latest Investment
    December 14, 2023
    Hidden River announced its most recent platform investment in Diamond Blade Warehouse (“DBW”), a leading distributor of diamond cutting tool products used for a variety of applications.
  • Mitsubishi HC Capital America Provides Channel and A/R Financing to Technology Value-Added Reseller ​
    December 14, 2023
    Mitsubishi HC Capital America, the largest non-bank, non-captive finance provider in North America with $7.5 billion in owned and managed assets, announces that it has partnered with 954 Consultants LLC to provide a comprehensive supply chain financing solution to support their rapid expansion in the commercial and government sectors.
  • SunOpta Announces New Credit Agreement
    December 14, 2023
    Bank of America, N.A. is administrative agent, JPMorgan Chase Bank, N.A. acted as syndication agent, and BOFA Securities, Inc. and JPMorgan Chase Bank, N.A. acted as joint lead arrangers and joint bookrunners.
  • Leading Bankruptcy Lawyer Edward M. Fox Joins Emmet, Marvin & Martin, LLP
    December 14, 2023
    Emmet, Marvin & Martin, LLP announced today that Edward M. Fox has joined the firm as a partner in the Creditors' Rights, Workouts, Restructuring and Bankruptcy Group. A nationally recognized bankruptcy lawyer, Mr. Fox brings 38 years of experience representing clients in some of the largest bankruptcy cases in the country.
  • Motorcar Parts of America Extends Credit Facility Maturity With PNC Bank
    December 14, 2023
    -Motorcar Parts of America, Inc. (Nasdaq:MPAA) today announced it has extended the maturity date of the company’s $238.62 million revolver credit facility led by PNC Bank, N.A. to December 2028, with enhancements that provide working capital flexibility, liquidity, and other favorable terms -- including opportunities to benefit from reduced interest rates.
  • KBRA DLD Forecasts 2.75% Direct Lending Default Rate in 2024 for Private Equity-Backed Companies; Report Notes YTD Sponsored Rate Rises to 2.1% From 1.9%
    December 18, 2023
    Momentum continued through November and pushed volume in the KBRA DLD Private Data set to $22 billion, making it the third consecutive month of volume greater than $20 billion. At $127.1 billion through November, YTD volume still falls short of the $131.8 billion in the same period last year. Managers need to put another $17.7 billion on the board this month in order to match last year’s $144.8 billion full-year figure.
  • Eiffel Investment Group Supports Electra and its Growth With €27m Bridge Financing
    December 18, 2023
    Eiffel Investment Group, asset manager with €5.5 billion assets under management, teams up with Electra, European specialist in electric vehicles fast-charging, to accelerate the construction of charging stations in France. The deal aims to support the development of more than 100 high-power (>150 kW) charging stations, i.e. over 600 additional charging points in France, for a total amount of 27 million euros.
  • AITX Expands Fleet Offering as Acquisition of SMBC Rail Services Closes
    December 18, 2023
    Deutsche Bank Securities Inc. served as lead financial advisor, Citi served as senior financial advisor, JP Morgan, Goldman Sachs and RBC Capital Markets LLC also provided advisory services to ITE Management. The acquisition financing is led by Bank of America as administrative agent and supported by a group of arrangers and lenders including Bank of America, Deutsche Bank, Goldman Sachs, Royal Bank of Canada, Sumitomo Mitsui Banking Corporation, and Citi. Willkie Farr & Gallagher LLP and Vedder Price LLP served as legal advisors to ITE Management.
  • Mountain Ridge Capital Provides $15 Million Credit Facility to Consumer Beverage Company
    December 18, 2023
    Mountain Ridge Capital (“MRC”) is pleased to announce the closing of a $15 million senior secured credit facility for a category-leading international consumer beverage company.
  • ARM Energy and Rabobank Successfully Upsize Credit Facility to $160 Million
    December 18, 2023
    ARM Energy Services, LLC (AES), one of the largest private North American physical natural gas marketers, and Rabobank, a premier global food and agribusiness bank and a leading financier of the energy transition, have amended their senior secured credit facility, increasing the revolving credit capacity by an additional $50 million to $160 million.
  • FrontWell Capital Partners Provides USD$6 Million Senior Secured Credit Facility to Armored Republic Holdings LLC
    December 18, 2023
    FrontWell Capital Partners Inc. (“FrontWell”) today announced the closing of a USD$6 million secured credit facility with Armored Republic Holdings LLC. (“Armored Republic”), a manufacturer of ballistic armor and body armor solutions.
  • Bluebird Network Secures $285M in Senior Secured Credit Facilities
    December 18, 2023
    Bluebird Network, a communications infrastructure provider and operator of more than 11,000 miles of fiber and two data centers, announces that it has received $285 million of five-year Senior Secured Credit Facilities.
  • Hughes Pittman & Gupton Combines with EisnerAmper
    December 18, 2023
    Global business advisory firm EisnerAmper announces that the partners and colleagues of accounting, tax, and business consulting firm Hughes Pittman & Gupton, LLP ("HPG"), are joining EisnerAmper in a transaction expected to close in the spring of 2024. In a separate transaction, HPG's wealth management practice, HPG Wealthcare Advisors, will transition to Prosperity, an EisnerAmper Company, later in 2024.
  • Frederick O. Terrell to join the Corporate & Investment Bank as Vice Chairman of Investment Banking
    December 18, 2023
    Wells Fargo & Company (NYSE: WFC) today announced that Frederick O. Terrell will join the Corporate & Investment Bank (CIB) as vice chairman of Investment Banking on January 2, 2024.
  • KKR Acquires $7.2 Billion Portfolio of Prime Recreational Vehicle Loans
    December 18, 2023
    KKR, a leading global investment firm, today announced that funds and accounts managed by its credit business have led the purchase of a $7.2 billion portfolio of super-prime recreational vehicle (RV) loans from BMO Bank National Association, part of BMO Financial Group (“BMO”).
  • First Citizens Bank Equipment Finance Names Joy Shanks Head of Business Development
    December 18, 2023
    First Citizens Bank today announced that its Equipment Finance business has named Joy Shanks as senior vice president and head of business development dedicated to supporting and growing equipment finance vendor acquisition business.
  • SellersFi Closes Credit Facility up to $300M with Citi and Fasanara Capital
    December 14, 2023
    SellersFi, a global, cutting-edge financial technology startup, closed a new US credit facility with Citi and independent asset manager Fasanara Capital for $135MM with the potential to grow up to $300M as SellersFi expands. Citi provides the senior capital while Fasanara provides junior capital in the transaction.
  • The GEO Group Amends Senior Revolving Credit Facility
    December 14, 2023
    The GEO Group (NYSE: GEO) (“GEO” or the “Company”) announced today the closing of a Refinancing Revolving Credit Commitments Amendment ("Amendment") to its Credit Agreement dated as of August 19, 2022, providing for the refinancing of all of GEO's outstanding revolving credit facility commitments. The Amendment provides for approximately $265 million in refinancing revolving credit commitments maturing on March 23, 2027.
  • iSun Inc. Secures $8.0 million Term Loan
    December 14, 2023
    iSun, Inc. (NASDAQ: ISUN) (the "Company," or "iSun"), a leading solar energy and clean mobility infrastructure company with 50-years of experience accelerating the adoption of innovative electrical technologies, today announced the closing of an $8.0 million senior secured loan with Decathlon Capital Partners, the country’s largest revenue-based funding investor, to refinance in full the prior senior secured convertible facility which had become overly dilutive.
  • SLR Equipment Finance Expands its Business Development Capabilities and Announces that Jeffrey Schaefer has Joined the Company
    December 14, 2023
    SLR Equipment Finance is pleased to announce Jeffrey Schaefer has joined our company as Associate Vice President, Direct Sales. In his role, Jeffrey will help grow SLR Equipment Finance’s leasing and lending activities in Texas, Louisiana, New Mexico, Colorado, Oklahoma, Arkansas, Kansas, Missouri, Illinois, Iowa, Nebraska, South Dakota, North Dakota, Minnesota & Wisconsin. Jeffrey began his career with North America Commercial Financing.
  • Hidden River Partners with Diamond Blade Warehouse in its Latest Investment
    December 14, 2023
    Hidden River announced its most recent platform investment in Diamond Blade Warehouse (“DBW”), a leading distributor of diamond cutting tool products used for a variety of applications.
  • Mitsubishi HC Capital America Provides Channel and A/R Financing to Technology Value-Added Reseller ​
    December 14, 2023
    Mitsubishi HC Capital America, the largest non-bank, non-captive finance provider in North America with $7.5 billion in owned and managed assets, announces that it has partnered with 954 Consultants LLC to provide a comprehensive supply chain financing solution to support their rapid expansion in the commercial and government sectors.
  • SunOpta Announces New Credit Agreement
    December 14, 2023
    Bank of America, N.A. is administrative agent, JPMorgan Chase Bank, N.A. acted as syndication agent, and BOFA Securities, Inc. and JPMorgan Chase Bank, N.A. acted as joint lead arrangers and joint bookrunners.
  • Leading Bankruptcy Lawyer Edward M. Fox Joins Emmet, Marvin & Martin, LLP
    December 14, 2023
    Emmet, Marvin & Martin, LLP announced today that Edward M. Fox has joined the firm as a partner in the Creditors' Rights, Workouts, Restructuring and Bankruptcy Group. A nationally recognized bankruptcy lawyer, Mr. Fox brings 38 years of experience representing clients in some of the largest bankruptcy cases in the country.
  • Motorcar Parts of America Extends Credit Facility Maturity With PNC Bank
    December 14, 2023
    -Motorcar Parts of America, Inc. (Nasdaq:MPAA) today announced it has extended the maturity date of the company’s $238.62 million revolver credit facility led by PNC Bank, N.A. to December 2028, with enhancements that provide working capital flexibility, liquidity, and other favorable terms -- including opportunities to benefit from reduced interest rates.
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