Huntington Business Credit announced it closed new $21,815,000 credit facilities with Advance Electrical Supply Company LLC on April 13, 2020. Proceeds of the facilities were used to refinance existing debt, finance the acquisition of real estate, and provide ongoing working capital growth financing.

Extensive industry experience and product knowledge of the management team led to an exclusive agreement with a global building materials distributor to design and manufacture private label safety gear products. Initial load-in orders for the items from existing dealer, wholesale and retail channels overlapped, resulting in large upfront capital requirements to produce goods. Given timing of the load-ins and the volume of purchases, goods needed to be put into production immediately to meet delivery dates.

High Road Capital Partners announced that its portfolio company General Tools & Instruments has acquired Garden Weasel, a provider of specialized lawn and garden tools, from Faultless Brands. The transaction marks General Tools’ second acquisition under High Road’s ownership, having acquired PacTool International in November 2017.

Crestmark is pleased to announce they have funded more than $215 million for small businesses through the Paycheck Protection Program (PPP), part of the SBA CARES stimulus package. More than 670 small businesses were funded by Crestmark as part of program in 38 states. More than half of the businesses were not existing clients of Crestmark and over 56% of the total loan sizes were for less than $100,000.

Today, Assembled Brands announced the closing of a $1.35 million senior secured credit facility with Violet Grey, the go-to source for luxury beauty products. Assembled Brands partnered with Agility Capital, a leading venture debt fund, on this financing round to propel the Hollywood-based beauty brand to greater heights.

BNP Paribas Securities Corp ("BNPPSC"), MUFG Bank, Ltd. ("MUFG") and Natixis, New York Branch ("NATIXIS") are Joint Lead Arrangers and Bookrunners for the Facility. Freepoint is also pleased to welcome as new Joint Lead Arrangers, ABN AMRO Capital USA LLC, Coöperatieve Rabobank U.A., New York Branch, and Société Générale. BNP Paribas remains as the Administrative Agent. Co-Syndication and Co-Documentation Agents include: ABN AMRO Capital USA LLC, Coöperatieve Rabobank U.A.., New York Branch, ING Bank N.V., and Société Générale.

hrough these amendments, Marriott will raise $570 million from Chase and $350 million from American Express, according to a filing with the Securities and Exchange Commission. Marriott will record these amendments as deferred revenue and make the cash available for general corporate purposes. The Chase agreement includes $500 million of prepayment of some future revenues and $70 million from Chase's early payment of a co-brand signing bonus that the two companies had agreed upon earlier.

MIDCAP FINANCIAL is pleased to announce that it has completed an equity offering of more than $300mm. This offering is part of a comprehensive strategy to enhance MidCap Financial's financial flexibility in order to further cement the company's position as a leading capital provider of choice to the middle market.

AlixPartners, announced today that Peter D. Fitzsimmons has rejoined the company as a Managing Director. Peter has more than 30 years’ experience in client-focused leadership roles with companies of all sizes and across a wide range of industries. He has worked as a hands-on advisor, an interim C-level executive, and, most recently, as a private equity investor. Peter will be based in AlixPartners’ New York office.

Kirkland & Ellis LLP is serving as legal counsel to the Company, Lazard Ltd. is serving as the Company's investment banker, and Berkeley Research Group is serving as the Company's financial advisor. The Extended Term Loan Lenders are represented by Wachtell, Lipton, Rosen & Katz as legal counsel and Ducera Partners LLC as investment banker. The Noteholders are represented by Paul, Weiss, Rifkind, Wharton & Garrison LLP as legal counsel and Houlihan Lokey as investment banker.

Armstrong Teasdale is proud to announce the addition of Partner Jeffrey Wurst to its Bankruptcy and Financial Restructuring practice in New York City. Wurst has more than 30 years of experience and is well recognized for handling significant commercial finance and bankruptcy matters. He is one of over 45 attorneys and staff the firm has added to-date in 2020.

The number of mergers and acquisition (M&A) deals in North America consistently declined during the first quarter (Q1) of 2020, from 1,178 in January to 1,024 in February and 820 in March, according to GlobalData, a leading data and analytics company.

Sierra Income Corporation (“Sierra” or the “Company”) today announced that effective as of May 1, 2020 its Board of Directors has terminated its previously announced mergers with Medley Capital Corporation (“MCC”) and Medley Management Inc. (“MDLY”) as the Outside Date (as defined below) has passed and neither of the mergers were consummated.

TAB Bank is pleased to announce it has provided a $4 million rediscount credit facility for a finance company based in Texas. The new facility is extended through a multi-year agreement and will provide increased liquidity for the company.

The Small Business Administration (SBA), in consultation with the Department of the Treasury, intends to provide timely additional guidance to address borrower and lender questions concerning the implementation of the Paycheck Protection Program (PPP), established by section 1102 of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act or the Act). This document will be updated on a regular basis.

Apparel, accessories and footwear are riskier assets to finance, liquidation firm Tiger Capital Group finds.

Fortuna Silver Mines, Inc. (NYSE: FSM) (TSX: FVI) provides an update on discussions with its senior lenders to amend the financial covenants contained in its US$150 million credit facility (the “Credit Facility”) (refer to Fortuna news release dated April 2, 2020).

Tenneco (NYSE: TEN) announced today that its senior lenders have agreed to amend the financial covenant ratios of its senior secured credit facility, significantly increasing the maximum leverage ratio and decreasing the minimum interest coverage ratio requirements in the company's senior credit facility. The revised covenant amendments are expected to help the company manage through the anticipated temporary drop in revenue and earnings related to the COVID-19 pandemic while maintaining compliance with senior credit facility terms.

Participating lenders in the credit facility include Barclays Bank PLC, Regions Capital Markets, Citibank N.A., US Bank National Association, Wells Fargo Bank National Association, Bank of America N.A., Citizens Bank N.A. and BMO Harris Bank N.A.