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.

Widespread vaccine availability later in 2021 will alleviate pressures on global structured finance (SF) asset performance by reducing the duration of the pandemic and likelihood of lockdown measures, mitigating downside risk in 2H21, Fitch Ratings says. Positive vaccine developments are a significant factor in Fitch’s expectations for global GDP growth in 2021, with further government support and policy easing expected until the health crisis is brought under control. However, delayed vaccine availability would result in significantly weaker growth in 2021.

The NFIB Research Center released its latest survey focusing on the impact the COVID-19 pandemic and imposed shutdowns have had on small businesses. This is the 14th survey since early March. One-in-four small business owners reported that they will have to close their doors in the next six months if the current economic conditions don’t improve, up 5% from last month. Another 22% of owners anticipate they will be able to operate no longer than 7-12 months under current economic conditions.

Data acquired by Finbold.com reveals that the total number of Commercial Banks in the US has dropped by 45.65%. The drop has been registered between 2000 and 2020. The data shows that Commercial Banks have closed at a rate of 3.15% yearly average.

Mike Colloton, Vice President – Business Development Officer, announced a closed and funded turnaround financing deal involving a $4,990,000 revolving line of credit facility, a real estate term loan, and an equipment term loan for a plastic injection molding business in Michigan.

CIT Group Inc's (NYSE: CIT) annual partnership with Feeding America® has helped provide Two Million Meals1 to people in need this holiday season. With the support of its customers, employees and followers, the company brought awareness to the pressing issue of food insecurity across the country.