Allied Affiliated Funding, a division of Axiom Bank, N.A. is pleased to announce the following recently closed transactions: $600,000 in receivables financing to a Texas-based company specializing in the recycle, repair, and resale of previously used electronics to wholesale and e-commerce customers and $1,500,000 in receivables financing to a Texas-based company providing inspection services for pipeline/rigs and consulting and training services to the oil and gas industry.

The ABL Facility is provided by a syndicate of banks with Bank of America, N.A. as Administrative Agent, Collateral Agent and Security Trustee.

The owner of the New York Sports Club chain is weighing a Chapter 11 bankruptcy filing, as 95 percent of the company's gyms across the country remain closed to curb the spread of coronavirus, according to a report by Bloomberg Law. Town Sports International Holdings Inc. has reportedly been in talks with advisers and lenders to get ahead of its nearly $200 million loan maturity in November.

In a court filing on Monday, the denim-focused retailer listed the estimated value of its assets at $100 million to $500 million — the same estimated value of its liabilities. CEO Michael Buckley said the company is receiving a fresh influx of capital from its largest investors to help it restructure under Chapter 11. In court documents, True Religion said the coronavirus crisis precipitated its filing, writing that it “would have preferred to wait out the current instabilities of the financial markets and retail industry generally” but “simply could not afford to do so.”

Fifth Third Business Capital, a division of Fifth Third Bank, National Association, announced it acted as lead lender and administrative agent on the closing of a new $70,000,000 Senior Credit Facility for Lignetics, Inc. and its various subsidiaries ("Lignetics").

Fifth Third Business Capital, a division of Fifth Third Bank, National Association, announced it acted as sole lender and administrative agent on the closing of a new $15,828,000 Senior Credit Facility for Comfort Research, LLC. Based in Grand Rapids, Michigan, Comfort Research is the manufacturer of the Big Joe brand, which consists of casual furniture, pool products, and outdoor furniture. Fifth Third’s credit facility was used to refinance existing debt and working capital funding.

Michael joins from Pivotal Advisors, a national sales improvement firm dedicated to helping companies drive sales performance through implementation and reinforcement of systems, processes tools, and effective management where he had been a Sr. Consultant since 2017.

Sallyport Commercial Finance provides a $2,000,000 accounts receivable facility, including a $500,000 Cash Flow Loan to a company that provides a complete range of traffic control services for their customers.

Frontier Communications Corp has filed for bankruptcy protection in the United States, the high-speed internet company said on Tuesday, as it restructures finances to cut down its borrowings by more than $10 billion. Frontier said it has entered an agreement with its bondholders and received $460 million in debtor-in-possession financing.

Fiat Chrysler Automobiles N.V. (NYSE: FCAU / MTA: FCA) (“FCA”) announced today that it has successfully completed the syndication to a group of thirteen banks (inclusive of the two original underwriting banks) of the credit facility entered into on March 25, 2020 (“Credit Facility”).

The XFL, a reboot of the 2001 league of the same name, filed for Chapter 11 bankruptcy protection on Monday a month after it had to cancel the remainder of its inaugural season because of the coronavirus outbreak.

JCPenney has hired turnaround and restructuring firm AlixPartners LLP as the company looks for ways to survive its growing debt brought on by COVID-19 related business issues. According to Bloomberg, AlixPartners joins a growing list of advisers, including legal firm Kirkland & Ellis LLP and Lazard Ltd., the latter an investment bank that is also working with Macy’s.

FoodFirst Global Restaurants Inc., owner of Italian restaurant chains Brio Italian Mediterranean and BRAVO Fresh Italian, is the latest to seek bankruptcy reorganization in part because of shutdowns necessitated by the coronavirus pandemic. FoodFirst and seven affiliates filed Chapter 11 in the U.S. Bankruptcy Court for the Middle District of Florida April 10, intending to pursue a sale.

Loan deferrals and grants geared toward Michigan's women entrepreneurs working in collaboration with SBA, Huntington Bank and others entrepreneurs are feeling community support, says MWF CEO. The new relief program, done in financial partnership with Detroit-based New Economy Initiative's Small Business COVID-19 Loan Relief Program, the Small Business Administration (SBA) and Huntington Bank, officially launched April 1 for the organization's existing companies and will run through September.

Walt Disney said Monday it’s entered into a new $5 billion, one-year credit agreement. That follows $6 billion the company raised last month with a sale of debt securities. The current agreement matures in April of 2021 and could be extended for a year. It provides for advances to be made for a year to be used for general corporate purposes, the company said in a SEC filling.

Siena Lending Group closed five deals totaling $51 million for an accessories manufacturer and food container manufacturer and companies provided software development, logistics and transportation. Siena Healthcare Finance closed two deals totaling $12 million for a skilled nursing facility chain and medical and government staffing.

Brian Yoshida named Chief Legal Officer for Santander US; Joe Abruzzo named Head of Commercial Banking for Santander Bank

On Deck Capital Inc., in partnership with Celtic Bank, will be serving small business owners seeking funding under the Small Business Administration's Paycheck Protection Program loan applications, a part of the Coronavirus Aid, Relief and Economic Security Act, known as the CARES Act.

Royal Boskalis Westminster N.V. (Boskalis) has refinanced its revolving credit facility (RCF) providing the company with EUR 500 million committed bank financing until April 2025. The new facility was coordinated by ING Bank and is provided by a syndicate of seven banks (ABN AMRO Bank, BNP Paribas, HSBC, ING Bank, MUFG, Rabobank and NatWest).

Bank of America, N.A., served as administrative agent for the new term loan credit agreement. Additionally, BofA Securities, Inc. and U.S. Bank National Association served as joint lead arrangers and joint bookrunners, U.S. Bank National Association served as syndication agent and Truist Bank served as documentation agent.