Acquisition enhances B. Riley platform and expands financial advisory consulting services and capabilities. Alderney’s team of experienced crisis and turnaround advisors join B. Riley’s GlassRatner affiliate.

Certain funds managed by Lapis Advisers, LP and Amundi Pioneer Asset Management, Inc., filed a chapter 11 plan of reorganization in US Bankruptcy Court for the Northern District of Illinois, Eastern Division to restructure the financially challenged Clare Oaks community. They laid out their restructuring plan (the Bondholders Plan) for the continued operation of Clare Oaks with minimal disruption to the residents.

Access Capital has structured a credit facility for $1.5 million for the California-based company truData Solutions, a data centric firm focused on partnering with clients in building analytics and data integration capabilities leveraged through Cloud solutions.

Athenex, Inc. (“Athenex” or the “Company”) (NASDAQ: ATNX), a global biopharmaceutical company dedicated to the discovery, development and commercialization of novel therapies for the treatment of cancer and related conditions, today announced that it has entered into a $225 million loan agreement with funds managed by Oaktree Capital Management, L.P. (“Oaktree”), a leading global investment firm (the “Agreement”).

Banks and borrowers are being forced to get creative on debt financings, putting in place sub-optimal structures in a bid to complete M&A transactions. A £4bn unfunded credit facility to back the US$38bn merger of the British businesses of Liberty Global and Telefonica; and a US$1.3bn club loan backing KKR’s acquisition of a 60% stake in US-based cosmetics maker Coty’s hair and nail care business were both innovative financings, designed to overcome the challenges that come with bringing such large deals to market during the Covid-19 pandemic.

SierraConstellation Partners, LLC (SCP), a national interim management and advisory firm to middle-market companies in transition, today announced the formation of a Senior Advisor Council to the firm. The Council will consist of experienced senior executives who have held C-level positions at firms in specific industries that have gone through restructurings, bankruptcies, and performance turnarounds. Each advisor will offer their unique expertise in a consulting capacity on SCP assignments in their respective industries.

BNP Paribas, ABN AMRO Capital USA LLC, MUFG Bank, Ltd., Societe Generale, Citibank, N.A., Coöperatieve Rabobank U.A., New York Branch, Credit Agricole Corporate and Investment Bank and Natixis, New York Branch served as Joint Lead Arrangers and Joint Bookrunners for the Facility. ING Capital LLC acted as Senior Managing Agent for the Facility. CCI is also pleased to welcome Credit Suisse (Switzerland) Ltd. and Wells Fargo Bank, N.A. as Senior Managing Agents in the Facility this year. BNP Paribas served as Global Coordinator and Administrative Agent for the Facility. Cadwalader, Wickersham & Taft LLP served as counsel to the lenders. Stroock & Stroock & Lavan LLP served as counsel to the borrower.

Tamarack Valley Energy ("Tamarack" or the "Company") (TSX: TVE) is pleased to announce that our bank syndicated credit facility has been redetermined at $275 million, of which the company was drawn approximately $209 million as of June 18th, 2020. The Company has ample liquidity for the remainder of 2020 and expects to generate free adjusted funds flow1 over and above planned capital expenditures with a forecasted net debt to trailing annual adjusted funds flow ratio1 of less than 2x.

The U.S. Small Business Administration (SBA) and the U.S. Department of the Treasury have agreed with the bipartisan leaders of the U.S. Senate Small Business Committee to make public additional data regarding the Paycheck Protection Program (PPP). This agreement will ensure that the interests of both transparency and protections for small businesses are served.

Axiom Bank, N.A. donated $10,000 to two nonprofits committed to fighting hunger across Central Florida and Tampa. Feeding Children Everywhere, headquartered in Longwood, and Feeding Tampa Bay were each gifted $5,000 to aid in their mission of providing meals to families in need. With the economic impacts of the COVID-19 pandemic continuing to stagger the region, both hunger relief groups have reported increased need at levels never seen before.

Grupo Bimbo S.A.B. de C.V. (“Grupo Bimbo” or the “Company”) prepaid US$400 million of its committed revolving credit facility, maturing on October 7th, 2023. On March 25, 2020 the Company announced the disposal of US$720 million of its committed revolving credit facility, from which US$200 million will be used to refinance the 2020 notes maturing in June, while the balance was aimed at increasing liquidity, prioritizing flexibility and financial strength as a preventive measure due to the uncertain environment.

BRP Group, Inc. (“BRP Group” or the “Company”) (NASDAQ: BRP), a rapidly growing independent insurance distribution firm delivering tailored insurance solutions, today announced that its subsidiary, Baldwin Risk Partners, LLC (“BRP LLC”), has amended its senior revolving credit facility, effective immediately, to increase the committed line under the credit facility to $400 million, up $100 million from its previous amount of $300 million.

Travis joins SPECTRUM Commercial Services Company (SPECTRUMCommercial.com), bringing over 20 years of experience in commercial lending, most recently providing factoring and asset-based lending solutions. His track record of success working with commercial lenders, consultants and business owners make him an excellent fit as SPECTRUM expands into Charlotte and surrounding markets.

WesBanco, Inc., a diversified, multi-state bank holding company, announces that its affiliate, WesBanco Bank, has appointed Robert A. Van Nostrand as vice president, commercial bBanking for the Charleston, Huntingtonand southern Ohio markets. In his role, Van Nostrand will develop new client relationships and grow existing relationships across the commercial banking spectrum.

Ares Management Corporation (“Ares”) (NYSE: ARES), a leading global alternative investment manager, announced today the final closing of its Ares Special Opportunities Fund, L.P. (together with its parallel vehicles, “ASOF” or the “Fund”). The Fund was significantly oversubscribed at over $3.5 billion of commitments relative to its $2.0 billion target.

CVC Credit Partners ("CVC Credit") is pleased to announce that it has provided a $92 million multicurrency first lien credit facility to Calibre Scientific, the life sciences and diagnostics business owned by StoneCalibre. Funding provided by CVC Credit will be used to refinance the existing debt facility and to support the company's global acquisition strategy. Baird Global Investment Banking served as the exclusive debt advisor for the transaction.

TradeCap Partners recently closed a $1.6mm PO facility for a West coast-based importer of soap products. TradeCap’s collaboration with the company’s bank and a factoring partner resulted in a debtor carve-out paving the way for fulfillment of the orders. The Company’s existing line of credit with the bank was fully utilized, leaving no availability to capitalize on a growth opportunity with a former retail customer. Demand for household cleaning products had significantly increased as a result of the COVID pandemic, leaving the retailers’ shelves empty and out of stock.

North Mill Capital is pleased to a $2,000,000 accounts receivable credit facility to an LTL transportation company specializing in the transport and storage of products for industrial manufacturers throughout the Midwest; a $2,000,000 accounts receivable credit facility to an Iowa-based consulting firm providing IT staffing and services to businesses throughout the country and a $400,000 accounts receivable credit facility to a manufacturer of retail fixtures and point of purchase displays in Minnesota.

Focus Management Group (FMG), a nationwide turnaround and restructuring firm, is proud to announce they have upgraded their team with the addition of Steve Weber. Steve will serve as a Managing Director to meet the firm’s growing activity levels for its turnaround management team and corporate restructuring services.

Amid an intense period of national outrage over racial injustice and inequality, banks across the country are observing — for the first time — the date that commemorates the end of slavery in the United States. Fifth Third Bancorp, Truist Financial and others are joining corporations such as Nike, JC Penney and Mastercard in recognizing June 19, or Juneteenth, as a holiday.