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  • Veteran Commercial Banking Executives Randy Cameron and Dave Wood Join Voya Investment Management to Lead Voya’s Regional and Community Bank Advisory Program
    March 26, 2020
    Voya Investment Management, the asset management business of Voya Financial, Inc. (NYSE:VOYA), announced today that Randy Cameron and Dave Wood have joined the firm as senior vice presidents to co- head the firm’s Regional and Community Bank Advisory Program. Based in Salt Lake City, both report to Charlie Shaffer, head of Distribution, Voya Investment Management (IM).
  • Greenberg Traurig Re-Joins Forces with Leading Bankruptcy Guru Bruce Zirinsky
    March 26, 2020
    In another timely move, Greenberg Traurig, the 2200-lawyer global firm, announced it is rejoining forces with Bruce Zirinsky, its former Co-Chair of the Restructuring & Bankruptcy Practice, and subsequently founder of Zirinsky Law Partners PLLC, a boutique law and advisory firm. Only last week, Greenberg Traurig announced the addition of Ian Jack in London, Baker McKenzie's former global co-head of restructuring and insolvency and a 20-plus-year partner at that firm, as Greenberg Traurig prepares to assist clients during the developing change in global markets caused by the growing health crisis.
  • Mexican SME Lender Credijusto Secures Credit Facility From Credit Suisse for $100 Million
    March 26, 2020
    Credijusto, the leading tech-enabled lender in Mexico, announced today that it closed a USD $100 million debt facility with Credit Suisse AG. The transaction follows the closing of a landmark USD $100 million credit facility with Goldman Sachs last year. These two transactions were the first such deals that both banks had completed with a Mexican fintech.
  • Ares Capital Corporation Issues Letter to Stakeholders
    March 26, 2020
    Ares Capital Corporation announced today that it issued an open letter to its stakeholders regarding a business update amid the coronavirus (“COVID-19”) pandemic.
  • Kennedy Wilson Renews $500 Million Revolving Credit Facility
    March 26, 2020
    Bank of America, N.A. will serve as administrative agent for the revolving credit facility. BofA Securities, Inc. acted as joint lead arranger and joint bookrunner, JPMorgan Chase Bank, N.A. as joint lead arranger and joint bookrunner, and U.S. Bank National Association served as joint lead arranger.
  • Citizens M&A Advisory Advises LegalPartners on its Recapitalization by Eureka Equity Partners
    March 26, 2020
    Citizens M&A Advisory served as the exclusive financial advisor to LegalPartners, a leading alternative legal services provider (ALSP) on its recapitalization by Eureka Equity Partners, a Philadelphia-based private equity firm. LegalPartners is a leading national ALSP platform providing outsourced team-based legal solutions, substantive engagements requiring sophisticated legal professional services, and traditional legal recruiting and placement.
  • Altus Group Amends and Increases Credit Facility to $275 Million
    March 25, 2020
    The Facility is effective March 24, 2020, subject to the satisfaction of customary closing conditions. Bank of Montreal is the Lead Arranger, Administrative Agent and Bookrunner, The Toronto-Dominion Bank is Syndication Agent, and HSBC Bank of Canada and National Bank of Canada are Co-Lead Arrangers and Co-Bookrunners.
  • Main Street Announces Increase in Commitments Under its Credit Facility
    March 25, 2020
    Main Street Capital Corporation (NYSE: MAIN) ("Main Street") is pleased to announce the expansion of total commitments under its revolving credit facility (the "Credit Facility") from $705.0 million to $740.0 million. The $35.0 million increase in total commitments was the result of the addition of a new lender relationship, which further diversifies the Main Street lending group under the Credit Facility to a total of eighteen participants.
  • Vesta Draws Down $85 Million From Existing $125 Million Revolving Credit Facility Reinforcing Company's Strong Balance Sheet
    March 25, 2020
    Corporación Inmobiliaria Vesta, S.A.B. de C.V. ("VESTA" or the "Company") (BMV: Vesta), one of the leading pure-play industrial real estate companies in Mexico, announced today the drawdown of US$85 million from an US$ 125 million existing three-year revolving credit facility, maturing in August 2022.
  • ON Semiconductor Draws Down $1.17 Billion From Its Revolving Credit Facility
    March 25, 2020
    ON Semiconductor Corporation (Nasdaq: ON) today announced that it has drawn down approximately $1.17 billion from its revolving credit facility. The company has no immediate use of the funds, and it has made the withdrawal out of abundance of caution to have access to sufficient liquidity in an uncertain macroeconomic environment. With this withdrawal, the company has made full use of its $1.97 billion revolving line of credit.
  • Unlike a Typical Downturn, Services Have Been Hit Hardest...So Far
    March 25, 2020
    Early data on global business activity is beginning to trickle in, and it’s revealing an across-the-board collapse in service sector activity. Manufacturing has likewise sunk into contractionary territory but has not (yet) turned down as severely. So far, that trend belies what we normally see in economic downturns, where services tend to contract slower than the total economy.
  • Churchill Asset Management Completes Fundraising for Middle Market Senior Loan Fund II (and Related Vehicles) with $2 Billion in Limited Partner Commitments
    March 25, 2020
    Churchill Asset Management LLC (“Churchill”), an investment-specialist affiliate of Nuveen providing customized financing solutions to private equity firms and their portfolio companies, today announced that it has completed fundraising for Churchill Middle Market Senior Loan Fund II (and related investment vehicles) (the “Fund”) with $2 billion in limited partner commitments, exceeding its original target of $1 billion.
  • Crestmark Provides More Than $49.4 Million in Commercial Financing to 70 Businesses in the First Half of March
    March 25, 2020
    Crestmark secured a total of $20,250,000 in ABL financial solutions for seven new clients; Crestmark Equipment Finance provided $13,763,020 in 6 new lease transactions; Crestmark Vendor Finance provided $5,524,480 in 52 new lease transactions; and the Government Guaranteed Lending Division provided $9,900,000 in financing for five new client in the first half of March.
  • Charlotte's Web Announces Line of Credit with J.P. Morgan and Engagement for Commercial Banking Services
    March 24, 2020
    Charlotte's Web Holdings, Inc. ("Charlotte's Web" or the "Company") the market leader in hemp-derived extract products, has entered into a new Asset Backed Line of Credit with J.P. Morgan for $10 million with an accordion feature to extend the line to $20 million with a 3 year maturity. In addition, Charlotte's Web has engaged J.P. Morgan for commercial banking services including merchant processing services to support the Company's global growth.
  • Flushing and Empire Announce Delay of Closing of Merger; Merger Consideration Election Process Extended
    March 24, 2020
    Flushing Financial Corporation (FFIC) (“Flushing”), parent company of Flushing Bank, and Empire Bancorp, Inc. (EMPK) (“Empire”), parent company of Empire National Bank, announced today that the closing of the previously announced merger of Empire with and into Flushing (the “merger”) will be delayed due to the severe instability and volatility in the U.S. financial and stock markets.
  • Neiman Marcus in Bankruptcy Talks with Lenders: Bloomberg Law
    March 24, 2020
    Luxury retailer Neiman Marcus Group Inc is in talks with lenders to file for bankruptcy as it struggles to ease its $4.3 billion debt load, Bloomberg reported on Monday, citing people familiar with the matter.
  • Honeywell to Discuss New $5 Billion Term Loan With Banks
    March 24, 2020
    Honeywell International Inc. is in discussions with banks to raise a new $5 billion term loan, according to people familiar with the matter. The new loan is expected to have a maturity of two years, the people said, asking not to be named because the discussions are private. A representative for Honeywell confirmed the discussions, but did not give specific details.
  • Contura Announces Partial Draw Down of Revolving Credit Facility
    March 24, 2020
    Contura Energy, Inc. (NYSE: CTRA), a leading U.S. coal supplier, today announced the Company has drawn down $57.5 million in principal amount under its revolving credit facility as a proactive, precautionary measure in light of the COVID-19 pandemic and its potential effects upon national and world economies.
  • Axiom Bank Offering Support for Customers Affected by Covid-19
    March 24, 2020
    Axiom Bank, N.A., a Maitland-based, leading community bank, is offering support for its commercial and consumer customers who are being financially affected by the COVID-19 pandemic.
  • Hitachi Business Finance Welcomes Mark Simshauser to Business Development Team
    March 24, 2020
    Simshauser is based in the New York region and is responsible for connecting with business owners and trusted advisors and communicating the variety of flexible financing options offered by Hitachi Business Finance. He will act as a resource to help determine the most effective means to accessing capital for growing businesses.
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