Last week ABN AMRO announced that, for Commercial Banking clients with a credit facility of up to 2.5 million euros, payment of principal and interest will be deferred for six months. Today ABN AMRO is extending this measure to Commercial Banking clients with a credit facility with a principal and/or a limit of up to 50 million euros.

Oak Valley Community Bank, a wholly owned subsidiary of Oak Valley Bancorp (NASDAQ: OVLY), announced that Rafael Martinez has joined the bank as Assistant Vice President, Commercial Loan Officer. Martinez will be based out of the Turlock Office. Martinez has 10 years of banking experience. He will focus on commercial and agricultural lending in Turlock and other adjacent cities.

KeyBanc Capital Markets, Inc. and BMO Capital Markets Corp. acted as joint lead arrangers and syndication agents for the credit facility. KeyBank National Association acted as the Administrative Agent for the credit facility. Raymond James Bank, N.A. served as documentation agent. Other banks participating in the credit facility are Pinnacle Bank, Trustmark National Bank, Truist Bank, Synovus Bank, IberiaBank, FirstBank, Renasant Bank, and Triumph Bank.

An expert in delivering large and complex transformation across industries with specialization in the TMT and industrial manufacturing sectors, Mo brings nearly 20 years of consulting experience, including four years at Deloitte where he was a Partner and Head of Value Creation Services. Mo holds an MBA degree from INSEAD.

After another tumultuous week I’d like to update you on steps SFNet is taking to address our collective interests in regard to the COVID-19 crisis.

International Paper Company (NYSE: IP) disclosed that on March 25, 2020, it entered into a $750 million 364-day revolving credit agreement with a syndicate of banks and other financial institutions, including Sumitomo Mitsui Banking Corporation; Banco Bilbao Vizcaya Argentaria, S.A., New York Branch; BNP Paribas and Credit Agricole Corporate and Investment Bank and Sumitomo Mitsui Banking Corporation, as administrative agent.

Clear Channel Outdoor Holdings Inc. CCO, +46.33% said Wednesday it is drawing down $150 million of its revolving credit facility as it works to preserve cash on its balance sheet in the midst of the coronavirus pandemic. The outdoor ad company said it had about $399 million in cash at end December, including $38 million from Clear Media Limited, an indirect, non-wholly owned subsidiary based in China.

This Financial Reporting Alert discusses certain key accounting and financial reporting considerations related to conditions that may result from the COVID-19 pandemic as well as various industry-specific considerations. The significance of the topics discussed will of course vary by industry and entity, but we believe that the following accounting and reporting issues will be the most pervasive and challenging as a result of the pandemic’s impact:

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).

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.

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 announced today that it issued an open letter to its stakeholders regarding a business update amid the coronavirus (“COVID-19”) pandemic.

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 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.

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 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.

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 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.

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 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.