CIT Group Inc. (NYSE: CIT) today announced that CIT Northbridge Credit, as advised by CIT Asset Management LLC, has named Sandy Thomson as a managing director for business development activities across the western United States. Thomson, based in Los Angeles, will be responsible for sourcing new asset-based loan opportunities ranging from $15 million to $150 million. In most cases, these credit facilities will be available to business borrowers that may not currently fit the profile required by regulated institutional lenders.

Monroe Capital LLC today announced an increase in its credit facility to Mammoth Holdings, LLC (“Mammoth”) to support the acquisition of Lulu’s Express (“Lulu’s”). In October 2018, Mammoth partnered with Red Dog Equity LLC, an Atlanta-based private equity firm, which, through its partnership with Tom Pritzker’s family business interests (advised by The Pritzker Organization), provides the equity for Mammoth’s corporate development initiatives.

J.P. Morgan acted as administrative agent, sole bookrunner and sole lead arranger on the asset based credit line, advised on the term loan, and served as sole placement agent on the preferred issuance. Bass, Berry & Sims PLC served as legal counsel to the Company on the transaction. Gibson, Dunn & Crutcher LLP served as legal counsel to Morgan Stanley Tactical Value.

Harborside Inc. ("Harborside" or the "Company") (CSE: HBOR) (OTCQX: HBORF), a California-focused, vertically integrated cannabis enterprise, today announced it has entered into a loan financing arrangement with a commercial federally regulated bank (the "Bank"), in the amount of US$12 million (the "Loan") pursuant to a senior secured revolving credit facility (the "Credit Facility") due March 2024.

Latham & Watkins LLP is serving as the Company’s legal counsel. Greenhill & Co., Inc. is serving as the Company’s financial advisor and Alvarez & Marsal is serving as the Company’s restructuring advisor. Gibson, Dunn & Crutcher LLP is serving as legal counsel to the ad hoc first lien lender group and new owners of the Company. Rothschild & Co is serving as financial advisor to the ad hoc first lien lender group and new owners of the Company.

Dye & Durham Limited ("Dye & Durham" or the "Company") (TSX: DND), a leading provider of cloud-based software and technology solutions designed to improve efficiency and increase productivity for legal and business professionals, today announced that it has amended its existing financing arrangement, increasing the Company's total borrowing capacity to $700 million, comprised of a term loan of $245 million and a revolving facility of $455 million.

Biodesix, Inc. (NASDAQ: BDSX; “Biodesix” or the “Company”) a leading data-driven diagnostic solutions company with a focus in lung disease, announced today that it has closed on a new $30 million term loan (New Term Loan) which matures on March 1, 2026. Biodesix used the proceeds to repay outstanding borrowings of $25.9 million under the Company’s existing term loan with Innovatus Life Sciences Lending Fund I, LP (Innovatus), which was terminated upon payment.

TAB Bank is pleased to announce it has provided a $5 million rediscount credit facility for a trucking factoring company based in Michigan. The facility is based on a multi-year agreement and will provide the means necessary to grow and expand the company’s growing portfolio.

J D Factors announced it recently provided the following factoring facilities: $150,000 to a transportation company in New Jersey; $150,000 to a transportation company in Illinois; $150,000 to a transportation company in Ontario; $100,000 to a transportation company in California

Capital One announced its Medical Office team, part of the Capital One Healthcare Real Estate business, closed 43 deals totaling about $2.5 billion throughout 2020. The team funded transactions ranging from $15 million single-asset loans to $1 billion value portfolios across medical office buildings, medical properties, life science transactions and healthcare REIT lending. Since 2010, this team–which was acquired in 2015 by Capital One from GE Capital Healthcare Financial Services–has financed in excess of $18 billion in balance sheet debt in the medical office and life sciences space.

Sallyport Commercial Finance provided a $7.0 mm accounts receivable financing facility to a supplier of high-efficiency solar panels. Our client had a choice between a lower priced bank line with limitations or a more flexible facility from Sallyport. They choose growth and the confidence in partnering with Sallyport to help achieve their hopes and dreams.

The March trailing 12-month institutional leveraged loan default rate stands at 3.9%, according to a new Fitch Ratings report. "The current 2021 forecast is 4.5%, but if market access remains as open and issuer-friendly as it has been, the rate will probably finish even lower," said Eric Rosenthal Senior Director of Leveraged Finance.

The Office of the Comptroller of the Currency (OCC) today named seven new members to its Minority Depository Institutions Advisory Committee (MDIAC). The MDIAC advises the OCC on steps it can take to ensure the continued health and viability of minority depository institutions and other issues of concern to these institutions.

CohnReznick LLP, one of the leading advisory, assurance, and tax firms in the United States, today announced that Karen Nevins has joined the firm as Head of Strategic Growth & Marketing for its rapidly growing Transactions & Turnaround Advisory practice. This new role comes on the heels of a period of rapid expansion for the practice, including strategic hires in key geographies. In 2020, CohnReznick’s Transactions & Turnaround Advisory also earned several prestigious awards including Top Transaction Advisory Firm (Global M&A Network), Turnaround and Transaction of the Year (Turnaround Management Association) and Out-of-Court Restructuring of the Year (Turnaround Atlas Awards).

Express is thrilled to announce and fossilize the completion of a $9,700,000 standby letter of credit (SBLC) facility. The facility fueled a commodity trader’s purchase of petroleum from a Canadian supplier. The facility was executed early in the first quarter of 2021 and covers ongoing shipments over a 12-month period.

Despite market uncertainty at the height of the pandemic, positive economic sentiments have sharply rebounded in 2021. 59% of sponsors and 74% of investors are confident in the global economy over the next 12 months, up dramatically from 24% and 55% for the same groups, respectively, in 2020. Participants also report a 2021 recession is “very unlikely” despite lingering levels of financial stress in borrower portfolios.

In this role, Desai is responsible for managing client relationships and is actively involved in new business development, working with colleagues in the New York, North Carolina, and Los Angeles offices.

Alan Turner is appointed Head of Commercial Banking effective today, succeeding Linda Seymour who took on the role of President and Chief Executive Officer of HSBC Bank Canada in September 2020. In this role, Turner has responsibility for HSBC’s Large Corporates and Small and Medium Enterprise banking segments, as well as leading Global Trade and Receivables Finance in Canada.

Citigroup, JPMorgan Chase Bank, BofA Securities and Wells Fargo Securities are the joint lead arrangers and joint book managers, the planemaker said here on Monday.

Pathlight Capital announced it is serving as the FILO Agent on the recently funded $17.5 million first-in, last-out ("FILO") term loan facility for Destination XL Group, Inc. ("DXL" or the "Company"), the largest omni-channel specialty retailer of big and tall men's apparel. In addition to DXL Big + Tall, the Company also operates Casual Male XL retail and outlet stores and e-commerce sites including DXL.com.