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  • DiamondRock Hospitality Company Successfully Secures Financial Covenant Waivers For Credit Agreements
    June 11, 2020
    DiamondRock Hospitality Company (the "Company") (NYSE: DRH), a lodging-focused real estate investment trust that owns a portfolio of 31 premium hotels in the United States, announced today that it successfully finalized an amendment to the credit agreement for its $400 million revolving credit facility and $350 million unsecured term loan and the credit agreement for its $50 million unsecured term loan (collectively, the "Credit Amendments").
  • Liquid Finance Helps Large Agriculture Equipment Manufacturer GVM, Inc. Exit Chapter 11 Bankruptcy in Post COVID-19 Environment
    June 11, 2020
    GVM Inc. of Biglerville, PA, an American manufacturer of high-end agriculture equipment called Prowler Double Duty Spreaders and Mako Sprayers, has exited Chapter 11 Bankruptcy in a transaction with Liquid Finance. With the reorganization, GVM has cleaned their balance sheet, allowing them to continue manufacturing state of the art agriculture and snow equipment in their facilities in Ohio, Pennsylvania, Missouri, and Indiana. Liquid Finance structured a transaction that helps GVM grow distribution across North America.
  • Main Street Lending Program Forms and Agreements - Federal Reserve Bank of Boston
    June 11, 2020
    The Federal Reserve has announced that it is establishing a Main Street Lending Program (Program) to support lending to small and medium-sized businesses that were in sound financial condition before the onset of the COVID-19 pandemic.
  • Largely Untouched by COVID-19 Fallout in Q1, Banks and Independents Report ABL Growth
    June 11, 2020
  • Danaher Replaces Previous $5B Credit Facility with New $2.5B Facility
    June 11, 2020
    In documents filed with the US Securities and Exchange Commission on Wednesday, Danaher disclosed it entered into a new $2.5 billion 364-day revolving credit facility with Bank of America as administrative agent on June 5.
  • LivaNova Announces New Senior Secured Credit Facility
    June 11, 2020
    LivaNova PLC (NASDAQ:LIVN) (“The Company” or “LivaNova”) today announced its entry into a five-year $450 million senior secured credit facility (the “Credit Facility”) through its wholly owned U.S. subsidiary, LivaNova USA, Inc. with funds managed by affiliates of Ares Management Corporation, as administrative agent and collateral agent. Goldman Sachs & Co. LLC served as exclusive advisor to LivaNova in connection with the Credit Facility.
  • Goldman Sachs BDC, Inc. and Goldman Sachs Middle Market Lending Corp. Announce Amended and Restated Merger Agreement
    June 11, 2020
    Goldman Sachs BDC, Inc. and Goldman Sachs Middle Market Lending Corp. announced today that they have amended and restated the Agreement and Plan of Merger, dated December 9, 2019. GSBD and MMLC are affiliated business development companies that are managed by Goldman Sachs Asset Management, L.P.. BofA Securities, Inc. served as financial advisor and Dechert LLP serves as the legal counsel to the special committee of GSBD. Morgan Stanley & Co. LLC served as financial advisor and Eversheds Sutherland (US) LLP serves as the legal counsel to the special committee of MMLC. GSAM’s legal advisor is Wachtell, Lipton, Rosen & Katz.
  • GreenSky, Inc. Announces Closing of $75 Million Incremental Term Loan
    June 11, 2020
    GreenSky, Inc. (“GreenSky” or the “Company”) (NASDAQ: GSKY), a leading financial technology company Powering Commerce at the Point of Sale®, today announced the closing of a $75 million incremental Term Loan B facility, the proceeds of which will be used for general corporate purposes and to enhance the Company’s overall liquidity position. JP Morgan Chase Bank, N.A., acted as sole lead arranger and bookrunner for this transaction.
  • Chimera Closes $400 Million Capital Commitment Led by Funds Managed by Ares Management Corporation
    June 11, 2020
    Chimera Investment Corporation (NYSE: CIM) (“Chimera”) today announced the closing of a three-year $400 million secured loan commitment led by funds managed by the Alternative Credit Strategy at Ares Management Corporation (“Ares”).
  • Organizers Planning de novo Bank in New York City
    June 10, 2020
    NBF Holdings would be the holding company for NewBank, according to an application filed with the Office of the Comptroller of the Currency. Organizers have also applied with the Federal Deposit Insurance Corp. for deposit insurance. NewBank would be “primarily focused on providing credit, payments and deposits to consumers and businesses nationwide,” the filing says. “The bank will source customers and depositors largely through strategic partnerships, primarily with non-depository finance companies, original equipment manufacturers, retailers and technology companies.”
  • Surplus Professional AV Production Gear from The Camera Division and Cinema Verde Productions Set for Online Auction by Tiger Group on June 16
    June 10, 2020
    Surplus professional AV production gear from equipment rental and production houses The Camera Division and Cinema Verde Productions are hitting the block on June 16 in a combined online-only auction conducted by Tiger Group.
  • Francisco Partners Announces Close of $750 Million Credit Fund
    June 10, 2020
    Francisco Partners (FP) today announced the closing of FP Credit Partners, L.P., a $750 million opportunistic credit fund focused on the rapidly expanding technology credit market.
  • Bob Olsen Promoted to Lead Ankura's Global Cybersecurity and Privacy Group
    June 10, 2020
    Ankura, a global business advisory and expert services firm, today is pleased to announce the appointment of Bob Olsen, Senior Managing Director, to the position of Global Head of Cybersecurity and Privacy, effective immediately. Based in Baltimore, Mr. Olsen will be responsible for supporting the continued expansion and growth of the firm's cybersecurity and privacy practices in both existing and developing markets.
  • Balbec Capital Raises $1.2 Billion for Latest Global Credit Fund
    June 10, 2020
    Balbec Capital, LP, a global alternative asset manager with expertise sourcing and investing in bankrupt and insolvent credit, has completed the final close of InSolve Global Credit Fund IV, L.P. (the Fund), with total commitments of approximately $1.2 billion. This exceeds the Fund's $1 billion target and makes it Balbec's largest fund to date. The Fund received significant backing from current Balbec clients and welcomed a number of new global institutional investors.
  • Reich Bros Structured Finance to Operate as “Align Business Finance”
    June 10, 2020
    Reich Bros Structured Finance (RBSF ) has announced its subsidiary, Reich Bros Business Solutions, LLC, a leading provider of capital solutions to companies across a wide range of industries, will operate, effective immediately, under the name Align Business Finance (www.alignbusinessfinance.com). The new name more accurately addresses the company’s customer philosophy, which is to align with itsborrowers’ financial needs, and provide capital so our clients can Align their business
  • Loeb Term Solutions Provides Term loans on $10M In Machinery this Quarter for Nine Satisfied Clients and Expands Sales Force
    June 10, 2020
    In the past 2 months nine clients were able to grow their businesses by leveraging working capital from their machinery with equipment financing provided by Loeb Term Solutions. These winning solutions amount to $10 million in covenant-free financing for businesses ranging from transportation to earth moving, from a truck fabricator to an underground utility contractor, from a steel producer to a protein producer, and several others.
  • Sallyport Commercial Finance Structures a Multi-Million Dollar Credit Facility for an Electronics Company
    June 10, 2020
    Sallyport Commercial Finance arranges a $3,000,000 accounts receivable facility for a national distributor of gaming and consumer electronics. Due to the COVID-19 pandemic, the business has expanded their products to include personal protective equipment such as masks and gloves.
  • Highlight of Changes Made to Main Street Lending Program
    June 9, 2020
    Clayton Stallbaumer and Staci Rosche of McGuireWoods summarized the changes to the MSLP, which were announced on Monday.
  • Clear Thinking Group Promotes Brian Allen to Senior Managing Director
    June 9, 2020
    Clear Thinking Group LLC, the award-winning business advisory firm, is pleased to announce the promotion of Brian Allen to Senior Managing Director effective immediately. Mr. Allen has over twenty-five years of experience serving in Controller and CFO positions with both public and private companies.
  • Albireo Announces Two Financing Transactions to Extend Cash Runway Into the Beginning of 2022
    June 9, 2020
    Under the updated terms of the agreement with HCR, the company will receive an additional $15 million on top of the $45 million royalty financing commitment HCR made in 2018 for royalty rights based on sales for elobixibat in the treatment of chronic constipation in Japan. Under the terms of the new agreement with Hercules Capital, Albireo may access up to $80 million of new capital, with an initial minimum of $10 million drawn down on a first available tranche of $15M, and additional tranches based on regulatory and other milestones.
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