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  • Bridge Bancorp, Inc. and Dime Community Bancshares, Inc. to Combine in Merger of Equals Creating The Best Business Bank in New York
    July 6, 2020
    Bridge Bancorp, Inc. (Nasdaq: BDGE) (“Bridge”), the parent company of BNB Bank, and Dime Community Bancshares, Inc. (Nasdaq: DCOM) (“Dime”), the parent company of Dime Community Bank, today announced that they have entered into a definitive merger agreement pursuant to which the companies will combine in an all-stock merger of equals transaction, valued at approximately $489 million. The merger combines two complementary banking platforms to create a premier community-based business bank. The combined company will have over $11 billion in assets, over $8 billion in total deposits, and 66 branches spanning Montauk to Manhattan.
  • Warren Rice Joins Community Bank of the Chesapeake as Senior Vice President, Commercial Loan Officer
    July 6, 2020
    Community Bank of the Chesapeake is pleased to welcome Warren Rice as Senior Vice President, Commercial Loan Officer for the Calvert County market. In this role, he will focus on generating business lending opportunities while building banking relationships within the business community.
  • Pebblebrook Hotel Trust Announces Successful Amendments Of Credit Agreements: Covenant Waivers And Extensions of Debt Maturities
    July 6, 2020
    Pebblebrook Hotel Trust (NYSE: PEB) (the “Company”) today announced that it has successfully amended the agreements governing its outstanding debt, including its $650.0 million senior unsecured revolving credit facility, $2.0 billion of term loans and working capital facilities, and $100.0 million private placement senior notes. In addition, $242.6 million of the Company’s $300.0 million November 2021 debt maturity was extended to November 2022.
  • Diversified Healthcare Trust Amends Credit and Term Loan Agreements and Provides COVID Related Business Updates
    July 6, 2020
    Diversified Healthcare Trust (Nasdaq: DHC) today announced that it has amended the agreements governing its $1 billion unsecured revolving credit facility and $200 million unsecured term loan, and is also providing certain business updates in light of the ongoing COVID-19 (coronavirus) pandemic.
  • MiMedx Announces Concurrent $150 Million Private Equity and Debt Financings
    July 6, 2020
    MiMedx Group, Inc. (OTC PINK: MDXG) (“MiMedx” or “the Company”), an industry leader in advanced wound care and an emerging therapeutic biologics company, today announced the closing of concurrent $150 million private equity and debt financings, consisting of an equity financing pursuant to a Securities Purchase Agreement with an entity controlled by EW Healthcare Partners and certain funds managed by Hayfin Capital Management LLP (“Hayfin”), and a debt financing pursuant to a Loan Agreement with Hayfin. As part of the transaction, EW Healthcare Partners has designated Martin P. Sutter and William A. Hawkins III to serve on the Company’s board as preferred directors.
  • Village Farms International Announces Completion of the Accordion Provision of the Pure Sunfarms' Credit Facility
    July 6, 2020
    Village Farms International, Inc. ("Village Farms" or the "Company") (NASDAQ: VFF) (TSX: VFF) today announced its majority-owned joint venture for large-scale, low-cost, high-quality cannabis production, Pure Sunfarms, has further expanded its credit facility (the "Credit Facility") with the lending syndicate led by Bank of Montreal and including Farm Credit Canada ("FCC") and the addition of CIBC to its full $59 million capacity with the completion of the Credit Facility's accordion feature. The Credit Facility now consists of a $15.0 million revolving operating loan (the "Revolver") and a $25.0 million term loan (the "New Term Loan"), in addition to its existing $19.0 million loan (the "Existing Loan").
  • Scott’s Liquid Gold Announces New Credit Facility with UMB
    July 6, 2020
    Scott’s Liquid Gold-Inc. (OTC: SLGD) today announced it has entered a new credit facility with UMB Bank in conjunction with the acquisition of the Biz and Dryel laundry brands. Scott’s new credit facility includes a $7 million asset based line of credit, along with a $3 million term loan, with current interest rates of 4.75% and 5.50%, respectively. The credit facility has a three year term and includes typical covenants. The UMB credit facility replaces our existing credit facility with JPMorgan Chase Bank, which was terminated in conjunction with the closing. The Company was assisted by Business Capital, a national commercial finance company, throughout the financing process.
  • NPC International Enters into Restructuring Support Agreement with Majority of Senior Secured Lenders to Substantially Reduce Long-Term Debt and Strengthen Financial Position
    July 6, 2020
    NPC International, Inc. (“NPC” or the “Company”) today announced that it has entered into a restructuring support agreement (“RSA”) with lenders holding approximately 100% of the Company’s first lien priority debt and 70% of its first lien debt (collectively, the “Senior Secured Lender Group”) to substantially reduce NPC’s long-term debt and strengthen the Company’s capital structure. NPC and the Senior Secured Lender Group contemplate that the terms of the RSA would become part of a comprehensive Chapter 11 plan to restructure the Company’s balance sheet and optimize its portfolio of restaurants throughout the country.
  • Chapter 11 U.S. Commercial Bankruptcies up 43% in June For First Half 2020, Chapter 11 Filings are Up 26% Versus Same Period Last Year
    July 6, 2020
    Epiq, a global leader in legal services, released the June 2020 bankruptcy filings statistics today from its AACER business. Notably, commercial Chapter 11 filings are up 43% over June of last year, with 609 new filings, up from 424 from the same period last year. For the first half of 2020, total commercial Chapter 11 filings are up 26% with 3,604 new filings, up from 2,855 from the same period last year.
  • California Advocacy Alert
    July 6, 2020
    Last month, SFNet alerted members to CA AB2559, which expands the DBO’s enforcement powers by allowing the DBO to seek ancillary relief in the form of refunds, restitution, disgorgement or damages paid by the lender subject to the California Financing Law (“CFL”) which is found to be violating the CFL. Such ancillary relief is in addition to any fee or citation levied by the DBO and collected for the benefit of the State and is to be paid directly to the aggrieved borrower.
  • Houlihan Lokey Advises MFA Financial
    July 6, 2020
    Houlihan Lokey is pleased to announce the successful placement of $2.15 billion of capital for MFA Financial, Inc. (NYSE:MFA), consisting of a $500 million private senior secured loan with warrants funded by Apollo Global Management, Inc. (Apollo), and a $1.65 billion new asset-level term facility funded by Athene USA Corporation and Barclays Bank PLC.
  • J D Factors Announces Factoring Facilities
    July 6, 2020
    J D Factors announces it has provided: $700,000 to a transportation company in California; $100,000 to a transportation company in Georgia; $75,000 to a transportation company in Quebec; $300,000 to a transportation company in Illinois...
  • CIBC Welcomes Nathan Love to U.S. Asset-Based Lending Team
    July 1, 2020
    Love joins CIBC from PNC Business Credit, where he served as Senior Vice President, Business Development. In this role, he handled business development of Asset-based loans for middle market companies experiencing growth or business transition. At CIBC, Love will focus on origination in the Great Lakes region, continuing to provide creative solutions to family-owned or sponsor-backed, middle market companies.
  • Troutman Pepper Officially Launches; Law Firm one of 50 Largest in U.S.
    July 1, 2020
    Troutman Sanders and Pepper Hamilton officially became Troutman Pepper (Troutman Pepper Hamilton Sanders LLP) today, a national law firm with 1,100 attorneys in 23 U.S. cities. The new firm offers clients greater resources and bench strength, enhanced practices, and expanded geographical reach. Troutman Pepper is one of the 50 largest law firms in the country, with offices in eight of the 10 largest U.S. markets. The firm supports some of the country’s biggest industry sectors, including health sciences, energy, real estate, insurance, finance, private equity, construction, and technology.
  • Citi Expands Commercial Banking Business in the Nordics; Mariève Gauthier Appointed to Lead and Grow the Nordic Operations
    July 1, 2020
    The commercial bank business in the Nordics, covering Sweden, Norway, Denmark and Finland, serves the middle market segment in a wide range of traditional industries as well as the fast growing digital sector. Mariève will be based in Stockholm and will start transitioning to her new role with immediate effect.
  • Alvarez & Marsal Expands Its Healthcare Offerings with Launch of Biopharmaceutical and MedTech Advisory Practice
    July 1, 2020
    Leading global professional services firm Alvarez & Marsal (A&M) has appointed Jacques Mulder as a Managing Director in its Healthcare Industry Group to expand its biopharmaceutical and medical technology (MedTech) sector offerings. Mr. Mulder’s appointment reflects A&M’s commitment to assist clients in the biopharmaceutical and medical device industry to address multifaceted market challenges, which have been exacerbated by the Covid-19 pandemic.
  • FTI Consulting Adds Senior Restructuring and Performance Improvement Specialist
    July 1, 2020
    FTI Consulting, Inc. (NYSE: FCN) today announced the continued investment in its Turnaround & Restructuring practice within the Corporate Finance & Restructuring segment with the appointment of Kevin Barrentine as a Senior Managing Director. Mr. Barrentine , who will be based in Atlanta, brings more than 30 years of experience in restructuring and performance improvement for underperforming or distressed businesses.
  • Home Capital Renews $500 Million Committed Standby Secured Funding Facility With Bank of Montreal and Royal Bank of Canada
    July 1, 2020
    Home Capital Group Inc. (TSX: HCG) (“Home Capital” or the “Company”) is pleased to announce the renewal of its $500 million committed standby secured funding facility (the “Credit Facility”) entered into by its subsidiary, Home Trust Company, and Bank of Montreal and Royal Bank of Canada for a period of one year.
  • Lincoln International Adds Three Healthcare Investment Banking Leaders, Strengthening Firm’s Offering in Europe as Sector Consolidation Increases
    July 1, 2020
    Lincoln International, a leading global investment banking advisory firm, today announced that three leaders specializing in mergers and acquisitions (M&A) advisory for the healthcare sector have joined the firm's Frankfurt office. Dirk Loeffler joins as Managing Director and head of healthcare for the DACH region and Julian Knirim and Jens Gerlach join as Directors. All will advise shareholders, management teams and financial sponsors on complex private and public M&A transactions in the global healthcare sector.
  • Horizon North Logistics Inc. Announces New Credit Facility
    July 1, 2020
    Horizon North Logistics Inc. ("Horizon North" or the "Corporation") (TSX: HNL.TO) announced today that the Corporation has negotiated a new credit facility with a syndicate of lenders led by Scotiabank (the "Credit Facility"). Key features of the Credit Facility include an extended maturity date to December 31, 2022 and an increase in credit availability from $150 million to $175 million.