J. C. Penney Company, Inc. (OTCMKTS: JCPNQ) today announced that the U.S. Bankruptcy Court for the Southern District of Texas (the “Court”) has confirmed the Company’s Plan of Reorganization (the “Plan”) to create separate property holding companies (“PropCos”) comprising 160 of the Company’s real estate assets and all of its owned distribution centers, which will be owned and operated by JCPenney’s DIP and First Lien Lenders. The PropCos are expected to complete the Court-supervised restructuring process and emerge from Chapter 11 bankruptcy protection in the first half of 2021.

Hunter Street Partners ("Hunter Street"), a Minneapolis-based alternative investment management firm, and Five Crowns Credit Partners ("Five Crowns"), are increasing their capital commitment to TriStruX, a leading wireless infrastructure and telecommunication service provider in the Northeast, to finance the acquisition of High Point Utilities ("High Point"), a regional broadband network construction and maintenance company.

Quantum Health, the industry-leading consumer healthcare navigation and care coordination company, announced today a significant investment from Warburg Pincus, a leading global private equity firm focused on growth investing. Great Hill Partners, which invested in Quantum Health in 2017 and is the company's current majority shareholder, will retain a significant stake. This investment will further accelerate Quantum Health's investment in its technology platform and service delivery capabilities, as the company continues to provide high quality services to its growing customer base of self-insured employers.

New report provides insights on how credit fund managers are navigating economic upheaval and uncertain market conditions brought about by COVID-19

The Facilities were arranged by Bank of China Limited, Singapore Branch, Coöperatieve Rabobank U.A. Singapore Branch, DBS Bank Ltd., Emirates NBD Capital Limited, Emirates NBD Bank (P.J.S.C), Singapore Branch, Industrial and Commercial Bank of China Limited, London Branch, ING Bank N.V. Singapore Branch, Mizuho Bank, Ltd., MUFG Bank, Ltd., Oversea-Chinese Banking Corporation Limited, Société Générale, Hong Kong Branch, and Sumitomo Mitsui Banking Corporation Singapore Branch, acting as Bookrunning Mandated Lead Arrangers ("BMLAs").

Digerati Technologies, Inc. (OTCQB: DTGI) ("Digerati" or the "Company"), a provider of cloud services specializing in UCaaS (Unified Communications as a Service) solutions for the small to medium-sized business (“SMB”) market, announced today that its operating subsidiary, T3 Communications, Inc. (“T3”), has closed a $20 million senior secured credit facility (the “Facility”) with Connecticut-based Post Road Group. The Facility enables continued expansion of Digerati’s U.S. operations through organic growth efforts and targeted acquisitions.

Kredivo, the leading digital credit platform for retail borrowers across Indonesia, and Victory Park Capital Advisors, LLC (“VPC”), a leading private credit specialist headquartered in Chicago, announced today the closing of a committed debt facility of up to US$100 million to fund consumer loans for Kredivo’s borrowers in Indonesia. The deal marks major milestones for both firms: for Kredivo, it is the largest deal in its history with a credit provider and also represents one of the largest ever credit lines secured by any digital credit platform in the region; for VPC, this represents their first transaction in Southeast Asia and Indonesia overall.

Feronia Inc. (“Feronia” or the “Company”) (TSX-V: FRN) announces that it has closed its previously announced third party sale and restructuring transaction. As previously reported, the Company initiated debtor in possession insolvency proceedings under the Bankruptcy and Insolvency Act (Canada)(the “BIA”) on July 23, 2020 (the “NOI Proceedings”).

Vesper Energy – a leading developer, owner and operator of utility-scale renewable energy assets – announced it closed a new letter of credit (LC) facility with Macquarie Group ("Macquarie") for up to $100 million. The LC facility will empower Vesper Energy to fast-track the development of its current 3 GW solar and 2.5 GWh energy storage pipeline in North America. The company will use the LC facility to cost-effectively post securities for power purchase agreements (PPAs) and interconnection agreements with energy transmission networks like PJM, CAISO and ERCOT.

U.S. institutional term loan defaults are on pace for the lowest monthly total since this summer, according to Fitch Ratings in a new report. After jumping to $6.3 billion of defaults in October, November stands at $0.2 billion thus far and could best August ($2.2 billion) for the lowest monthly total this year. "Both the TTM and YTD default rates are at 4.3% and should end the year around 4.7%. This is in line with our initial coronavirus pandemic-revised 5%-6% forecast provided in March and tightened to 5% in early October," said Senior Director Eric Rosenthal of Leveraged Finance.

Mr. Stephen Toy, previously Founding Member and Co-Head of WL Ross & Co. LLC and Global Head of Private Equity at Invesco Private Capital; and Mr. Nadim Qureshi, previously Managing Partner and Head of Industrials and Chemicals at WL Ross & Co. LLC and Invesco Private Capital; have formed BroadPeak Global LP, an independent private equity firm dedicated to opportunistic buyouts and special situations transactions in the global industrials, materials and chemicals sectors. The two co-founders are joined by Mr. Geoffrey Lim and Ms. Jackie Zheng, both former senior investment professionals at Invesco Private Capital, and Mr. Ademola Adewale-Sadik.

Prestige Capital Finance, LLC recently delivered a $2.0 million factoring facility to a reverse logistics company that specializes in managing excess inventory on behalf of its retail clients. The company helps retailers sort clearance merchandise and retag and repackage past-season, factory-excess and customer returns.

Stonebriar Commercial Finance (“Stonebriar”), a leading independent large-ticket commercial finance company, announced today it has funded YTD and is currently projected to fund through 2021, with more than $355 million secured by Jones Act-compliant marine vessels, including tugs, barges, tankers, and container ships.

As we wind down what has been a truly historic event for the Secured Finance Network, our first ever fully virtual Annual Convention, I’d like to share some thoughts on the experience, what I am thankful for, and where we go from here.

eCapital Corp. (“eCapital”), a leading alternative finance provider in North America, has named Kash Ahmad executive vice president and chief credit officer of its Commercial Finance division. Ahmad will report to Tony Howard, eCapital Corp.’s chief credit and portfolio officer, and lead a team of underwriters and credit specialists to manage credit, risk and compliance, and support the growth of the Commercial Finance business.

Blackboxstocks Inc. (OTC PINK: BLBX) (“Blackbox”), a financial technology and social media hybrid platform offering real-time proprietary analytics for stock and options traders of all levels, today announced that it has closed $1.0 million senior secured loan from Feenix Venture Partners.

OceanFirst Financial Corp. (NASDAQ:OCFC) announces the Board of Directors has appointed Joseph J. Lebel III as President of its OceanFirst Bank N.A. (the “Bank”) subsidiary, effective January 1, 2021. Mr. Lebel will assume the responsibilities of President from Christopher D. Maher, who will remain Chairman of the Board and Chief Executive Officer of the Company and the Bank. Mr. Lebel has also been appointed to the Bank’s Board of Directors, also effective January 1, 2021.

Sixpoint Partners, a leading global investment bank serving the middle-market, is pleased to announce the successful closing of Sumeru Equity Fund III, L.P. (the “Fund” or “Fund III”) with $720 million of total capital commitments. The Fund was significantly oversubscribed above its initial target of $600 million and nearly doubled the size of its predecessor vehicle.

BioRestorative Therapies, Inc. (“BioRestorative” or the “Company”) (OTC: BRTX), a life sciences company focused on stem cell-based therapies, announced today that its amended joint plan of reorganization has become effective and it has emerged from Chapter 11 reorganization. Pursuant to the confirmed plan of reorganization, the Company has received $3,848,000 in financing. The confirmed plan of reorganization also provides for additional funding, subject to certain conditions, of $3,500,000 less the sum of the debtor-in-possession financing provided to the Company during the reorganization (approximately $1,227,000) and the costs incurred by the debtor-in-possession lender.

Seacoast Business Funding is pleased to announce the addition of John Church, as VP Business Development Officer. Mr. Church is based on the West Coast and will focus on cultivating and growing the Seacoast portfolio in the region. He brings over twenty years of experience in solving complex financial challenges for businesses within the alternative lending space.