Huntington Business Credit announced it closed new $22,500,000 credit facilities with Watkins Incorporated on March 13, 2020. Proceeds of the facilities were used to refinance existing debt and provide ongoing working capital growth financing.

Monroe Capital LLC (“Monroe”) today announced it acted as Co-Syndication Agent in the funding of a senior credit facility and equity co-investment to support the acquisition of Kindeva Drug Delivery L.P. (“Kindeva”) by Altaris Capital Partners. Based outside of St. Paul, Minnesota, Kindeva is a unique Contract Development and Manufacturing Organization (“CDMO”) focused on both drugs and their delivery devices, particularly inhalation, including asthma inhalers; transdermal, or patches that deliver drugs; and other systems.

North Mill Capital announced it has provided a $1.5 million asset-based facility to PRC Laser. The funds were used to repay the previous lender and provide additional working capital to support growth. PRC Laser Corporation distributes and services lasers used for industrial applications and is headquartered in Charleston, South Carolina.

Alleon Healthcare Capital ("Alleon"), a specialty finance company focused on providing healthcare accounts receivable financing, medical accounts receivable factoring, and cash flow solutions to medical providers in the U.S., recently closed a $12,000,000 medical accounts receivable financing facility with an Accountable Care Organization (“ACO”).

J D Factors announced it has provided the following factoring facilities: $100,000 to a transportation company in British Columbia; $120,000 to a transportation company in Illinois; $100,000 to a transportation company in Alberta; $100,000 to a transportation company in Quebec and $400,000 to an oil field services company in Texas.

TradeCap Partners is pleased to announce the closing of an $800,000 purchase order Facility for an office supply company on the West Coast. The Company had been working with a major retailer on a new endcap program that coincided with the fall, back-to-school season. Despite the COVID pandemic, the retailer’s stores remained open given their classification as an essential business selling a diversified mix of goods.

Amerisource Business Capital announced the closing and funding of a $1,500,000 credit facility for an environmental services firm based in New York. The proceeds are being used to support working capital needs and anticipated growth.

AGS (NYSE: AGS) (the "Company") today announced it has successfully closed an incremental term loan of $95 million ("Incremental Term Loan") and an amendment to its existing credit agreement. The Incremental Term Loan, which matures in February 2024, has an interest rate of LIBOR plus 1,300 basis points, with a 100 basis point LIBOR floor. The net proceeds of the Incremental Term Loan are expected to be used for general corporate purposes.

The financial hardship resulting from the COVID-19 pandemic is driving some companies to convert their revolving credit facilities from secured cash flow-based to asset-based lines of credit, according to Ed Gately, Head of Asset-Based Finance at Mitsubishi UFJ Financial Group (MUFG). Asset-based credit facilities are applicable to businesses in retail, wholesale and general distribution, where high levels of inventory are more common.

ADC Therapeutics SA, a late clinical-stage oncology-focused biotechnology company pioneering the development and commercialization of highly potent antibody drug conjugates (ADCs) for patients suffering from hematological malignancies and solid tumors, today announced that it entered into a $115 million Convertible Credit Facility (the “Convertible Credit Facility”) with funds affiliated with Deerfield Management Company, L.P. (collectively, “Deerfield”).

Houlihan Lokey (NYSE:HLI), the global investment bank, announced today that Christian Lunny has joined the firm’s Corporate Finance business as a Managing Director. He is based in Sydney and will assist the firm’s mid-cap corporate and financial sponsor clients, focusing in part on the healthcare, consumer, and retail sectors.

Dillard’s, Inc. (NYSE: DDS) (“Dillard’s” or “the Company”) announced that it has amended its $800 million senior unsecured revolving credit facility consistent with the Company’s liquidity needs. The amended credit facility is secured by inventory of certain subsidiaries. A $200 million expansion option remains in place and the maturity date remains August 9, 2022.

Gordon Brothers, the global advisory, restructuring, and investment firm, has been instructed by KMPG to market for sale the modern and fully equipped marine survey vessel fleet of Bibby Hydromap Ltd, together with the extensive inventory of marine survey and test equipment and associated assets. Marine survey specialist Bibby Hydromap Ltd was placed into Administration in April 2020 with Andrew Stone and Rick Harrison of KPMG appointed Joint Administrators.

Crestmark’s Healthcare Financial Services group is proud to announce its first completed funding and the addition of Underwriting Manager Chad Kerr to the team. Since its soft launch in December 2019, the group has reviewed numerous opportunities, and closed its first official funding on March 24. The $600,000 ledgered line of credit facility was provided to a health services provider in California that treats chronic pain, opioid dependence, PTSD and related disorders. The group is currently working on numerous facilities for health care providers across the U.S.

Celtic Capital Corporation today announced its most recent new client relationship – a California-based manufacturer of packaging products primarily used in the healthcare, cosmetics, pharmaceutical and food industries. This business was referred to Celtic Capital to replace a soured relationship with the Company’s factor.

CIT Group Inc. (NYSE: CIT) today announced that its Community Association Banking (CAB) business has added two new regional account executives to serve property management companies and homeowner association banking needs in the Florida market.

Skyway Capital Markets, LLC (Skyway), a Tampa, FL-based privately held investment banking firm names Barry Shevlin as Senior Managing Director. Shevlin leads Skyway Capital Markets Technology practice for the middle-market sector identifying and facilitating customized financial solutions, including restructuring advice, capital raising (debt and equity) and mergers & acquisitions.

The Marcus Corporation (NYSE: MCS) today announced it has entered into a First Amendment to Credit Agreement, (the "Amendment") dated April 29, 2020, among the company and several banks, including JPMorgan Chase Bank, N.A., as administrative agent, and U.S. Bank National Association, as syndication agent. The Amendment amends the company’s existing credit agreement dated January 9, 2020.

Centreville Bank, a Rhode Island-chartered savings bank, and PB Bancorp, Inc. (NASDAQ Capital Market: PBBI) jointly announced today that all regulatory approvals relating to the acquisition by Centreville Bank of PB Bancorp and its wholly owned subsidiary, Putnam Bank, have been received. PB Bancorp shareholders previously approved the merger at a special meeting of shareholders on February 7, 2020. The merger is targeted to close before the opening of business on May 1, 2020.

The American Bankruptcy Institute (ABI) launched its new COVID-19 Resources website for bankruptcy professionals and the public to access essential information and analysis regarding the financial distress being inflicted by the COVID-19 pandemic. The site features exclusive ABI content on the crisis, recommended member analysis, industry sector news, charts and more.