esVolta, LP today announced that it has closed an approximately $140 million senior secured credit facility to finance a portfolio of its utility-scale battery energy storage projects. The credit facility was provided by CIT’s Power and Energy business as the Mandated Lead Arranger, and Siemens Financial Services (SFS), CoBank, ACB, and KeyBanc Capital Markets Inc. as Joint Lead Arrangers.
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White Oak Global Advisors, LLC Makes Key New Hires to Expand Aviation Finance Offerings
February 25, 2020White Oak Global Advisors, LLC (“White Oak”) today announced the addition of three senior members to White Oak Aviation, LLC, the aviation financing affiliate created to expand the firm’s offerings to the aviation market. Bob Genise, Asa Watts, and Greg Byrnes will be based in Bellevue, Washington and Ireland, and will further enhance the firm’s capabilities in the space.
RigNet Announces Amendment and Extension of Credit Facility
February 25, 2020RigNet, the leading provider of ultra-secure, intelligent networking solutions, announced today that it has successfully amended its senior secured Credit Facility with its existing bank group led by Bank of America, N.A. as administrative agent
Alimera Sciences Meets Revenue Milestone and Accesses Additional $2.5 Million Under Solar Debt Agreement
February 25, 2020Alimera Sciences, Inc. (ALIM) (“Alimera”), a leader in the commercialization and development of prescription ophthalmology treatments for the management of retinal diseases, today announced that it has drawn down the remaining $2.5 million under the $45 million term loan agreement with its current lenders, investment affiliates managed by Solar Capital Partners, LLC.
BNP Paribas and JetBlue Partner to Close First Sustainability-Linked RCF for the Airline Industry
February 25, 2020BNP Paribas, a premier global bank, today announced that it has closed a sustainability-linked loan (“SLL”) with JetBlue Airways (“JetBlue” or the “Company”), via an amendment to its existing Senior Secured Revolving Credit Facility (“RCF” or the “Facility”).
Sallyport Commercial Finance Offers Flexibility to a Growing Business in Canada
February 25, 2020Sallyport Commercial Finance provides a $600,000 accounts receivable facility to a company that specializes in non-destructive testing services. The family-owned and operated business was referred to Sallyport by a broker who has introduced business in the past. With a turnaround solution in place, the company hopes to generate more revenue and stabilize their working capital.
Moritt Hock & Hamroff Welcomes Anthony J. Ficara, Michael Wickersham & Jodi B. Zimmerman
February 25, 2020The law firm of Moritt Hock & Hamroff with offices on Long Island and in New York City has announced that Anthony J. Ficara, Michael Wickersham and Jodi B. Zimmerman have joined the firm, adding a new industry practice, in the Condominium & Co-Op Services sector, within the scope of the firm's Real Estate Practice Group. Mr. Ficara joins the firm as a partner and resides in the firm's New York City office. Mr. Wickersham and Ms. Zimmerman join the firm as associates and reside in the firm's Garden City office.
Edgemont Partners Announces Recapitalization of Quigley Eye Specialists by New Harbor Capital
February 25, 2020Edgemont Co-advised Quigley Eye; Transaction represents Edgemont’s fifth office-based physician services transaction in seven months
Endologix Announces Debt Restructuring Addressing 2020 Maturities
February 25, 2020The Company and certain funds managed by Deerfield Management Company, L.P. (collectively, “Deerfield”) also agreed to amend their existing facility agreement and credit agreement to extend near-term mandatory amortization payments and provide for certain conversion rights and obligations pertaining to the Company’s debt to Deerfield.
Deserve Secures $100M Credit Facility from Credit Suisse
February 25, 2020Deserve, the venture-backed fintech company expanding and powering the real-time credit card economy, announced today a new $100 million credit facility with Credit Suisse AG. Sector Financial Inc., an affiliate of Credit Suisse, provided access to the Credit Suisse debt facility.
Crestmark Provides More Than $41.6 Million in Commercial Financing to 77 Businesses in the First Half of February
February 25, 2020Crestmark secured a total of $6,300,000 in ABL financial solutions for nine new clients; Crestmark Equipment Finance provided $24,532,533 in 10 new lease transactions; Crestmark Vendor Finance provided $5,580,236 in 56 new lease transactions; and the Government Guaranteed Lending Division provided $5,224,037 in financing for three new clients in the first half of February.
Cosi, Inc. Files for Chapter 11 Bankruptcy Reorganization to Complete its Transformation to a Profit Maximizing Mix of In-store Dining and Catering Which Will Better Align it with Customer Dining Trends
February 24, 2020Cosi expects to emerge from Chapter 11 as a stronger version of itself, with a greater focus on its burgeoning catering business. Cosi has retained a chief restructuring officer, Jason F. Fensterstock, to assist with the development and implementation of its business plan and the associated cost cutting and initiatives which are well underway and include the opening of several new locations in the first half of 2020.
Cohn & Dussi LLC Announces the Addition of Robert Hanna as Director of National Sales and Marketing
February 24, 2020“Bob has been influential in the creditors' rights and commercial collection industry. He is well respected by financial companies throughout the country. We are pleased to have him as a valuable member of our firm,” states Lewis Cohn, Managing Partner of Cohn & Dussi.
Interfor Announces Long Term Debt Financing
February 24, 2020INTERFOR CORPORATION (“Interfor” or the “Company”) (IFP.TO) today announced it has priced US$50 million in long-term debt financing with Prudential Capital Group. The senior secured notes will carry an annual interest rate of 3.34% and have a final maturity in 2030. The financing is expected to close in March and the proceeds will be used for general corporate purposes.
Blank Rome Welcomes New Bankruptcy and Restructuring Associate in Houston
February 24, 2020Blank Rome LLP is pleased to announce that Broocks “Mack” Wilson has joined the Firm as an associate in the Finance, Restructuring, and Bankruptcy practice group. He is based in the Firm’s Houston office. Mack joins Blank Rome from Gerger Law Firm PLLC. He represents debtors, creditors, officers and directors, investors, and trustees in Chapter 7 and 11 bankruptcy proceedings and bankruptcy litigation at trial and appellate levels
Utica Equipment Finance Announces New Hire
February 24, 2020Utica Equipment Finance, a leading provider of equipment-based term loans and leases to companies throughout North America, today announced that Britt Stackhouse has joined the firm as a Managing Director based in New York City. He will be responsible for sourcing and developing client and referral relationships throughout the United States.
Gibraltar Continues to Grow, Welcoming New SVP Robin Oertel to the Upper Midwest Region
February 24, 2020Robin will be using her 20-plus years of experience to originate and execute new asset-based lending relationships in the Upper Midwest region (IL, WI, MN, IA, MO, ND, SD, NE, KS). Her experience in business development, relationship management and field examinations provides a solid platform for delivering solutions that meet or exceed clients’ and financial sponsors’ goals.
Pinnacle Capital Finance Provides a $4.5 Million Line of Credit to a Leading Furniture Manufacturer
February 24, 2020Pinnacle Capital Finance is proud to announce the issuance of a $4.5MM line of credit to a leading San Francisco Bay Area design, manufacturer and distributor of indoor and outdoor modern furniture. The company supplies state of the art furniture and lighting to retail, restaurant, hospitality, rental and design companies located in the United States, Canada and some South American countries.
SB360 Capital Partners Adds New Hires As Growth and Expansion Continue
February 24, 2020Adam Milton joins SB360 as a Senior Financial Analyst. He will be engaged in varied financial analyses of SB360’s business including acquisitions, collateral monitoring, dispositions, and special projects. Tiffany Arredondo joins SB360 as Assistant Vice President of Corporate Development. She will be responsible for corporate initiatives and assisting with new business. Tiffany will play a role in all aspects of assessing new business opportunities, generating business insights to further advance short and long-term growth strategies and priorities.
North Mill Capital Announces $750,000 Asset Based Credit Facility
February 24, 2020The funds will be used to support the working capital needs of the business.
AES Distributed Energy Secures $341 Million of Debt Financing from Silicon Valley Bank, KeyBank N.A. and Nomura
February 24, 2020The financing is the largest domestic debt facility raised for a portfolio of community and distributed solar and represents the third large umbrella facility AES DE has completed since 2017. Silicon Valley Bank (SVB), KeyBank N.A. and Nomura acted as coordinating lead arrangers.
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