PitchBook, the premier data provider for the private and public equity markets, today released its 2021 US Private Equity Outlook, which details predictions for private equity (PE) activity and performance in 2021. This past year defied expectations for most investors and PE managers were no exception. Dealmaking nearly ground to a halt in March but has since recovered rather quickly. Fundraising is on track for another strong year, although emerging managers have had a difficult time in a virtual environment. Exits have also slowed, but there are potential bright spots in the IPO market. Despite the widespread business disruption caused by the pandemic, private market transactions multiples have remained stubbornly high.

Exela Technologies, Inc. (“Exela”) (NASDAQ: XELA), a location-agnostic global business process automation leader, announced that it has entered into a 5-year, $145 million term loan facility with Angelo Gordon, a global alternative investment firm. The facility provides for an initial funding of approximately $92 million and subject to certain conditions a further funding of approximately $53 million. A portion of the proceeds from the initial funding will be used to retire all debt outstanding under Exela’s accounts receivables securitization facility of approximately $83 million.

Canadian cannabis company Aurora Cannabis Inc. said Wednesday it has reached an agreement with its lenders to extend the maturity of its credit facility to December 31, 2022. The company also said it has ceased operations at the Aurora Sun facility and scaled back production at the Aurora Sky facility to 25 percent of its previous capacity.

B&G Foods, Inc. (NYSE: BGS) announced today the closing of its previously announced credit agreement refinancing. The refinancing includes a $300.0 million add-on tranche B term loan facility under the Company’s existing senior secured credit facility. The tranche B term loan facility was issued at a price equal to 99.00% of its face value. The add-on term loans, which have the same terms as, and are fungible with, B&G Foods’ existing $371.6 million of tranche B term loans, will bear interest at a rate of LIBOR plus 2.50%, with a 0.00% LIBOR floor, and have a maturity date of October 10, 2026.

Williams Industrial Services Group Inc. (OTCQX: WLMS) (“Williams” or the “Company”), a construction and maintenance services company, today announced that it has entered into new credit agreements (the “Credit Facilities”), including a $50.0 million term loan facility (the “Term Loan”) with Energy Impact Credit Fund, an affiliate of Energy Impact Partners, as Agent to the Term Loan, CION Investment Corporation, and CrowdOut Capital, which consists of a $35.0 million initial term loan and a $15.0 million delayed draw facility, and a $30.0 million revolving credit facility (the “Revolver”) with PNC Bank, which together replaced its previous facilities.

Fashion retailer rue21 (r21 Holdings, Inc.) said that its formidable financial standing enabled it to refinance its current term loan, decrease the cost of funds and bolster available liquidity, according to an announcement. The retailer modified its asset-based credit facility to bolster availability to $155 million due 2025 headed up by Bank of America, N.A. The modification comes with a rise to the FILO Loan via a collaborative effort between Tiger Finance and Bank of America.

Milbank LLP is serving as legal counsel to the Company. Houlihan Lokey is serving as the Company’s financial advisor. BRG is serving as the Company’s restructuring advisor. Stroock & Stroock & Lavan LLP is serving as legal counsel to an ad hoc group of Secured Noteholders and Province is serving as financial advisor. Kirkland & Ellis LLP is serving as legal counsel to Ares Management Corporation. Debevoise & Plimpton LLP is serving as legal counsel to Brigade Capital Management and GLC Advisors & Co. is serving as financial advisor. Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as legal counsel to The Carlyle Group.

ClickLease LLC, an innovator in the commercial equipment finance industry announced the successful closing of a $100 million credit facility with Credit Suisse and Hudson Cove Capital. Sector Financial Inc., an affiliate of Credit Suisse, provided access to the Credit Suisse debt facility. Clicklease, headquartered in Salt Lake City, UT, is disrupting small ticket equipment finance with its best-in-class technology and proprietary algorithms delivering instant credit decisions and funding, putting more control into the hands of its dealers.

KeyBank continues to grow Commercial Banking resources in its Connecticut and Massachusetts market with the addition of Albert M. Schenck, who has joined Key as a Senior Relationship Manager. Schenck is responsible for managing new and existing relationships with middle market commercial clients and reports to Commercial Sales Leader, Matthew Hummel.

Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) announced that on December 15, 2020, we extended the maturity of our revolving secured line of credit facility with a commercial bank syndicate from June 22, 2022 to June 22, 2023. The amount of the facility will remain at $340.0 million until June 22, 2022, when the amount of the facility will decrease to $305.0 million. As of December 15, 2020, we had $65.3 million outstanding under the line of credit facility.

Crystal Financial LLC announced the closing of a $40,000,000 senior credit facility comprised of a $20,000,000 revolving line of credit and a $20,000,000 term loan for Basic Fun! (“the Company”). Proceeds from the transaction were used refinance existing debt and provide the Company with enhanced flexibility to continue growing the business.

BHI, a full-service commercial bank, announced that it has closed a $15 million credit facility for Hotwire Communications, a national fiber optics internet cable provider for residential and commercial buildings. Based in Fort Lauderdale, Hotwire serves markets in the Southeastern United States.

Signature Bank (Nasdaq: SBNY), a New York-based full-service commercial bank, announced today expansion of its executive management team with the appointment of two executives. Lisa Bond was named to the newly created position of Senior Vice President and Chief Corporate Social Impact Officer, which encompasses Diversity & Inclusion (D&I) and Environmental, Social and Governance (ESG) initiatives, areas in which the Bank is expanding its efforts companywide. Ana Harris, Signature Bank Senior Vice President and Director of Human Resources, was also promoted to the post of Senior Vice President and Chief Human Resources Officer (CHRO).

Monroe Capital LLC (“Monroe”) today announced it acted as sole lead arranger and administrative agent on the funding of a senior credit facility to support the majority investment in Identity Intelligence Group, LLC (“IDIQ”) by private equity sponsor Corsair Capital LLC. Founded in 2009, IDIQ is a tech-enabled leader in credit report and identity theft monitoring. IDIQ provides credit reporting, identity theft and dark web monitoring, identity restoration and related family protection services in the rapidly evolving $20 billion consumer identity monitoring market.

New York State Assembly Bill 10118-A, sponsored by Assemblyman Kenneth Zebrowski (96th District), and its Senate equivalent S.5470-B sponsored by Senator Thomas (6th District) were passed by the New York State Assembly and Senate over the summer and delivered to Governor Cuomo for signature last week. It is anticipated that the Governor will sign this legislation by year end. The new statute would require, among other provisions, that all non-regulated commercial finance companies, including ABL lenders and factors, that propose to lend $500,000 or less to New York-based borrowers, to disclose to these potential borrowers immediately prior to entering into a credit or factoring agreement the Annual Percentage Rate (“APR”) of the “loan” (inclusive of all fees and costs), expressed as a dollar amount, to be charged to the prospective borrower so that the borrower, allegedly, has the ability to better understand the lender’s pricing and make comparisons to other offers the prospective borrower may have received.

New York State Assembly Bill 10118-A, sponsored by Assemblyman Kenneth Zebrowski (96th District), and its Senate equivalent S.5470-B sponsored by Senator Thomas (6thDistrict) were passed by the New York State Assembly and Senate over the summer and delivered to Governor Cuomo for signature last week.

United Gaming LLC ("the company" or "UG"), the largest operator of coin-operated amusement machines (COAMs) in the State of Georgia, announced that it had recently entered into a new senior secured $250-million multi-draw credit facility (the "Credit Facility") with a New York-based investment group acting as agent. The Credit Facility includes incremental committed borrowing available for future expansion. At the time of closing, the use of the proceeds included fees, refinancing of an existing facility, acquisitions, capital expenditures, and general corporate purposes.

SATO Corporation (SATO) strengthened its liquidity position by signing a total of EUR 350 million committed revolving credit facilities with Nordea Bank Oyj, Danske Bank A/S, Finland Branch, OP Corporate Bank plc, Swedbank AB (publ), Svenska Handelsbanken AB (publ), Branch Operation in Finland.

Deutsche Bank Credit Solutions and Direct Lending provided debt financing for an acquisition of ENTACT LLC by J.F. Lehman & Co., a company statement said today. Proceeds will fund company growth. ENTACT, based in Westmont, Ill., employs approximately 600 people.

Sidley represented Invitation Homes Inc. (NYSE: INVH) in a US$3.5 billion sustainability-linked syndicated credit facility agented by Bank of America, N.A., with BBVA USA acting as Sustainable Agent and Coordinator. The credit facility consists of a US$1 billion revolving credit facility and a US$2.5 billion term loan facility.