CIT Group Inc. (NYSE: CIT) today announced that its Power and Energy business served as coordinating lead arranger for approximately $200 million in financing for the 149-megawatt Big River solar power project in White County, Illinois.

The project sponsor is D. E. Shaw Renewable Investments (DESRI), a leading provider of cost-effective renewable energy across North America. DESRI is part of the D. E. Shaw Group, a global investment and technology development firm with more than $55 billion in investment capital.

Antonio McKinney is a business intelligence analyst with over 10 years of professional sales, workforce management and factoring experience. Antonio is an HBCU alumni, hailing from Langston University with a bachelor’s degree in Business Management. He currently works for TBS Factoring, LLC as the embedded analyst for the accounting division. Antonio resides in Oklahoma where he enjoys spending time with his wife and their 8-month-old daughter.

Jude Baldo is an associate in the Global Finance group of Sidley Austin LLP, a global law corporate law firm. He is responsible for counseling clients in complex financings across a broad spectrum of platforms, industries, and asset types, including lending and securitization transactions, both domestically and internationally.  Prior to embarking on his legal career, Jude was an associate vice president for a software as a service company, where his experiences with cross-border technology regulations led him to law school. Jude graduated a Regents Scholar from the University of California, Los Angeles and from Northwestern Pritzker School of Law with a JD.

Jude resides in Illinois with his wife, their newborn, and their French bulldog, Celine.

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Andrew joined with the goal of bringing his upmarket sophistication and breadth of experience to the lower middle market with the goal of helping SG Credit build a real credit platform. On Monday, May 24, SG Credit Partners announced the extension of its comprehensive credit platform exclusively serving lower middle market entrepreneurs and new website illustrating its expanded capabilities.  

SG Credit Partners today announced the extension of its comprehensive credit platform exclusively serving lower middle market entrepreneurs and new website illustrating its expanded capabilities. The broad platform was developed to provide tailored lending solutions ranging from $1 to $10+ million for entrepreneurs seeking a customized structure spanning both business and personal assets.  The platform delivers a complete range of credit solutions including: cash flow, collateral-based, hybrid structures, high net worth, technology & recurring revenue and special situations lending.

As pandemic impacts continue to mitigate, many financial institutions are now reducing their risk forecast for loan defaults. The upbeat sentiments are welcome but the times remain unprecedented, and uncertainty remains on what lies ahead.

Today, more than ever, lenders are focused on minimizing their risks when entering a financial transaction.

Two key components in the lenders’ due diligence process when entering a transaction are conducting consensual and non-consensual lien searches and filing a UCC1 against the borrower.

From the second quarter Phoenix Management “Lending Climate in America” survey results reveals optimism in the U.S. economy with results for the near-term economy exceeding pre-pandemic predictions for the first time since the country shutdown due to COVID.

Since reaching an 11-year record low in Q2 2020, confidence in the near-term economy (next 6 months) has steadily climbed quarter over quarter to a 2.79 weighted average GPA in Q2 2021. Additionally, lender confidence in the U.S. economy in the long-term increased (by 7 percentage points) to 2.36 from the previous quarter’s results of 2.29.

Tim Knight is the vice president and senior managing partner with ThinkingAhead, where he is responsible for operations, training and recruiting for the firm. He also leads the partner group that heads up the firm’s Commercial Banking and Commercial Finance, Legal, Life Sciences and Security/Physical infrastructure search practices.

This is Tim’s 25^th year in executive search. Prior to joining ThinkingAhead, he was with Southwestern Advantage as a District Sales Manager recruiting and training salespeople. Including his college summers, Tim has been with Southwestern Family of Companies for 35 years. In his 24 years with ThinkingAhead, he has personally filled over 400 engagements for clients and his teams over 2300 professionals placed with client companies and is the all team leader in personal production for ThinkingAhead.

SFNet will host a webinar tomorrow, May 21, from 12:00 p.m. – 1:00 p.m., EDT titled "Navigating the End of LIBOR: Recent Developments and Market Updates." This webinar is free for employees of SFNet member organizations and $95 for non SFNet members. 

As we approach December 31, 2021, the financial markets are closer to the end of LIBOR for most currency and tenor settings. This webinar will provide important updates regarding LIBOR transition, including the extension of U.S. Dollar LIBOR for the dominant tenors to June 30, 2023, developments on SOFR and other overnight RFRs to replace IBOR rates and the emergence of certain “credit sensitive rates.” Panelists will also discuss recent developments impacting fallback provisions in documentation, including for business loans and derivatives, as well as the status of the New York State and Federal LIBOR discontinuation legislation.

Encina Business Credit, LLC announced today that it has provided an $80 million senior secured revolving credit facility to a national distributor of media and consumer goods.

The senior secured revolving line of credit, which is collateralized by accounts receivable and inventory, was used to refinance the borrower’s existing facility and provide ongoing working capital financing.

Paragon 28, Inc. a market leading orthopedic medical device company focused exclusively on the foot and ankle, today announced that the Company has entered into a credit facility with MidCap Financial ("MidCap") providing Paragon 28 access up to $70 million in total credit.

Dianne Wagman is a senior vice president, senior director of Diversity, Equity & Inclusion and Executive Talent Acquisition for Santander US.