Huntington Business Credit announced it closed new $6,500,000 credit facilities with Onodi Tool & Engineering Company on July 31, 2020. Proceeds of the facilities were used to partially finance the acquisition of the company by Covington Capital and provide ongoing working capital growth financing. Covington Capital is a Troy, Michigan based private equity firm.

American Express (NYSE: AXP) today announced that it has entered into an agreement to acquire substantially all of Kabbage, a leading financial technology company providing cash flow management solutions to small businesses in the U.S. The transaction represents an important step toward American Express’ goal of being an essential partner to small businesses through a broad range of payment, cash flow and financial management tools.

The firm follows the likes of rivals Noble Drillng and Diamond Offshore into the US-style bankruptcy process. Chapter 11 allows firms to continue trading while restructuring their debt – a move that helicopter firm Bristow has recently carried out.

First Business Growth Funding, the accounts receivable financing arm of First Business Financial Services, Inc., today announced that Aaron Dever has been hired as Vice President – Business Development Officer. Aaron has spent his entire career in consumer and commercial finance, with the last 24 years in accounts receivable finance and asset-based lending. At First Business, Aaron is responsible for sourcing accounts receivable finance transactions throughout the southeastern U.S. and nationwide.

A recently completed economic impact study of Hilco Redevelopment Partners’ (HRP) proposed redevelopment of the closed former Philadelphia Energy Solutions (PES) refinery in South Philadelphia is projecting significant job creation and a positive economic impact to the city and region. HRP, the real estate development unit of Hilco Global, remediates and redevelops complex and obsolete industrial properties in cities nationwide.

Stonebriar Commercial Finance (“Stonebriar”), a large-ticket independent diversified commercial finance & leasing company, announced that it has closed its seventh commercial equipment asset-backed securitization (“ABS”), SCFET 2020-1, a $572 million ABS issuance with top tranches achieving the highest possible short-term and long-term ratings from Moody’s Investors Service (“Moody’s”) and Kroll Bond Ratings Inc. (“Kroll”).

The U.S. Bank Foundation fund supports leaders of color and addresses inequities, with initial $5 million going toward Twin Cities.

CIVC Partners, L.P. ("CIVC"), a Chicago-based middle market private equity firm focused on investments in business services industries, is pleased to announce the firm's investment in iVision (the "Company"), in partnership with Gabe Damiani, David Degitz and the rest of the existing management team.

As market president, Janicki will be responsible for connecting the banking and investment resources offered through our eight lines of business to companies, families and individuals across Erie and Niagara counties. He will also lead the effort to deploy Bank of America’s resources to address social concerns, strengthen economic opportunity, and build strong communities, as well as support the health, safety and engagement of local teammates.

CapX Partners (CapX), a leading middle-market equipment finance provider, announced the completion of a $6 million true lease transaction to a well-established manufacturing company for a critical upgrade to its plant in the Northeast U.S. A trusted Capital Markets partner presented the transaction to CapX as a critical tranche for a $38 million plant upgrade.

California Bank of Commerce (CBC) has added veteran bankers Ryan Mauser and Dana Swanson to its growing team. Mauser is based out of the bank’s East Bay office, while Swanson is serving CBC clients in the Sacramento Region. Ryan Mauser joined CBC as Senior Vice President and Relationship Manager following 17 years of commercial banking experience with Bank of the West, Comerica Bank and most recently Bridge Bank. Dana Swanson brings more than 14 years of experience to her role as Senior Vice President and Relationship Manager.

Regions Bank today announced that Barb Godin, deputy chief risk officer and chief credit officer, will retire from Regions at the end of 2020. Godin’s retirement follows a successful 45-year career in the financial services industry. She joined Regions in 2003 as a consumer credit executive and has played a significant role in strengthening the bank’s credit culture and providing valuable leadership in credit policy, credit administration and problem asset management.

Paul, Weiss, Rifkind, Wharton & Garrison LLP announced today that Charles Pesant is joining the firm as a partner in the Corporate Department and the Securitization Practice Group, resident in the New York office. Mr. Pesant focuses his practice on highly complex domestic and cross-border structured finance deals.

Proceeds from the new debt will be used to partially pay down Concord’s revolving credit facility, allowing for significant additional capital availability for future acquisitions and working capital. The $600m term loan B offering was placed with 90 investment firms by J.P. Morgan. It was upsized from an initially proposed $400m issuance due to more than 6-times oversubscription. The new raise makes Concord one of the best-funded parties in the burgeoning music M&A sector, where its rivals include the likes of Hipgnosis Songs Fund, Downtown, Primary Wave, Round Hill, Kobalt Capital, Tempo Music Investments and Reservoir.

ING Capital LLC ("ING") led a $235 million syndicated financing on behalf of Auramet Trading and Auramet International (collectively, "Auramet"), a well-regarded precious metals merchant. The deal closed on August 7, 2020. ING acted as Mandated Lead Arranger, Bookrunner and Administrative Agent. In addition to ING, the lending group included Rabobank acting as Lead Arranger, Macquarie Bank Limited, Brown Brothers Harriman & Co, Mizuho Bank, Ltd, HSBC Bank USA N.A, Bank of China Bank and Bank Hapoalim. The transaction was strongly oversubscribed and a marked increase over the previous facility of $190 million.

Onex Corporation (TSX: ONEX) today announced the promotion of Bobby Le Blanc to President of Onex. Mr. Le Blanc will oversee all of Onex’ business units and become the sole Head of Onex Partners, the firm’s flagship private equity strategy. Mr. Le Blanc’s appointment reflects his decades-long commitment to Onex, his strong reputation among his peers, and his talent as a successful investor with a proven track record of managing teams and driving value creation. Gerry Schwartz will remain Chairman and CEO, with Bobby reporting to him.

Real-time payments (RTP), the emerging standard in U.S. billing and payment processing, continues to gain traction among businesses with nine out of 10 business leaders reporting interest in the network, according to Citizens Commercial Banking’s second annual Real-Time Payments Outlook. The nationwide survey of 252 corporate decision-makers found that only 9 percent currently have no plans to implement RTP, which is the biggest upgrade to the U.S. payments system since the Automated Clearing House (ACH) in 1974.

Just on the heels of closing its Walton, Ky., printing plant the end of July, Arandell Holdings announced that the printing company, along with all its subsidiaries, voluntarily filed for business reorganization under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware on Aug. 13. According to the Menomonee Falls, Wis.-based catalog printing specialist — which serves U.S. retailers and online merchandisers — Arandell has sufficient liquidity to continue operating its business.

Triumph Group, Inc. (NYSE: TGI) ("Triumph" or the "Company") today announced the consummation of a series of strategic refinancing transactions, including the closing of its previously announced offering of $700.0 million of its 8.875% senior secured first lien notes due 2024 (the "Notes"), the repayment and termination of its revolving credit facility and amendments to its receivables securitization facility. Triumph Group, Inc. today announced the consummation of a series of strategic refinancing transactions, including the closing of its previously announced offering of $700.0 million of its 8.875% senior secured first lien notes due 2024 (the "Notes"), the repayment and termination of its revolving credit facility and amendments to its receivables securitization facility. The Company raised $688.5 million in net proceeds from the offering, of which $335.6 million was used to repay and retire the loans and other amounts outstanding under its revolving credit facility

The Middleby Corporation, Inc. (NASDAQ: MIDD; “Middleby” or the “Company”), a leading worldwide manufacturer of equipment for the commercial foodservice, food processing, and residential kitchen industries, today announced that it has commenced a set of strategic financing transactions, including an amendment to its senior credit facility and the launch of a $550 million convertible notes offering. The Company also expects to enter into a related capped call hedge transaction, which will offset potential dilution from the conversion feature of the notes.