Sprague Resources LP, the parent company of Sprague Operating Resources LLC and Kildair Service ULC, announced today the signing of a second amended and restated senior secured credit agreement with MUFG Bank, LTD, as Administrative Agent, MUFG Bank LTD. and BNP Paribas as Co-Collateral Agents, BNP Paribas, Citizens Bank, N.A., Société Générale, Wells Fargo Bank, N.A. and Coöperatieve Rabobank U.A., New York Branch, as Co-Syndication Agents, ABN AMRO Capital USA LLC and Santander Bank, N.A., as Co-Documentation Agents and MUFG Bank LTD, BNP Paribas, Citizens Bank, N.A., Société Générale, Wells Fargo Securities, LLC and Coöperatieve Rabobank U.A., New York Branch as Joint Lead Arrangers and Joint Bookrunners and financial institutions party thereto.

All Js Greenspace LLC, one of GGB’s existing secured lenders, has agreed to fund the CCAA proceedings through a debtor-in-possession loan facility in the initial amount of up to US$1 million. An additional $US6.2 million will be made available for borrowing under the DIP Agreement following the Initial Period upon Court approval at a subsequent hearing that would (i) extend the stay period; (ii) increase the amount of the DIP Lender’s Charge (as defined below); (iii) approve a sale and investment solicitation process; and (iv) approve a stalking-horse agreement (the “Stalking Horse Agreement”) among the Company, All Js and Capital Transfer

First Northwest Bancorp (NASDAQ: FNWB) (“Company”), the holding company for First Federal Savings and Loan Association of Port Angeles (“Bank” or “First Federal”), today announced that Andy Pohlman will join First Federal’s management team as Regional Market President and Senior Vice President of Investment Services, effective June 1, 2020. Pohlman will lead the Bank’s Retail Banking Strategy in Whatcom and Kitsap Counties, as well as oversee the Investment Services function.

Ankura, a global business advisory and expert services firm, today announced the appointment of Scott Davido as a Senior Managing Director, based in New York. As part of Ankura's Turnaround & Restructuring Group, Mr. Davido will serve clients with his more than 30 years of experience leading operations, finance, accounting, and strategic functions for companies and governments undergoing operational and financial crises or transitions.

AHLA outlines action needed by Congress to help industry survive economic impact worse than Great Depression.

CIT and its Pasadena-based banking subsidiary CIT Bank, N.A. today announced a $37.3 million investment in the Jordan Downs Apartments Project, a 92-unit multifamily apartment complex to support low-to-moderate income families in the Watts neighborhood of Los Angeles.

New loan delinquencies and new loan transfers to special servicing within the Fitch-rated U.S. CMBS conduit universe increased substantially in May due to coronavirus. The majority of conduit remittances for May have now been reported and 30-day loan delinquencies increased exponentially, rising 12 times as much as April. This is consistent with Fitch's expectation the delinquency rate will increase over the next few months and peak between 8.25% and 8.75% by the end of third quarter 2020.

This rapidly growing specialty contracting firm was referred to Change Capital by a leading accounts receivable-based lender. The company, based in Texas, specializes in audio-visual and building automation design, construction and installation. Change Capital was introduced and engaged quickly, providing a $350,000 2nd lien tranche of capital within five business days of the initial submission.

LBC Small Cap, an affiliate of LBC Credit Partners, recently provided financing solutions to support the growth of two U.S.-based lower middle market companies. LBC Small Cap provided a secured mezzanine investment to support the acquisition of SIB Fixed Cost Reduction (“SIB”) by O2 Investment Partners. Additionally, LBC Small Cap provided senior secured credit facilities and an equity co-investment to support the recapitalization of Breakout EDU by Cascadily LLC, along with key members of management.

Johnson announced that EquiTrust Life Insurance Co., of which he owns a majority, is providing $100 million in capital to fund federal loans for minority and women business owners who have been hit hard by the coronavirus pandemic. EquiTrust will work with MBE Capital Partners, a lender that specializes in asset-based loans for minority-owned small businesses, to distribute the loans through the federal government's Paycheck Protection Program.

The Office of the Comptroller of the Currency (OCC) on Wednesday released new rules covering how banks should be judged under a 1977 anti-redlining law, breaking with two other bank regulators ahead of the comptroller’s expected resignation. The OCC unveiled its proposal to update the rules that regulators and banks must follow under the Community Reinvestment Act (CRA), a law that requires banks to serve low-income communities and finance loans and projects in areas historically neglected by the financial sector.

Allied Affiliated Funding, a division of Axiom Bank, N.A. is pleased to announce it closed $1,500,000 in receivables financing to a New Jersey-based pet wash manufacturing company that sells primarily dog washing stations to national pet retailers and $300,000 in debtor-in-procession receivables financing to a Texas-based manufacturer for lead and steel-based specialty items.

An energy company based in West Virginia has chosen TAB Bank for a $2.5 million revolving credit facility. The new facility is extended through a multi-year agreement and will provide for the company’s ongoing working capital needs. The company offers patented on-site solutions for natural gas drilling companies.

Jaime Rachel Koff was promoted to senior partner in commercial finance. Jaime graduated from Boston College Law School in 2006. Jaime was a member of the firm’s summer program in 2005 and became a junior partner in 2013. Jaime works primarily out of our Boston office. Jaime’s practice focuses on financing for commercial lenders with particular emphasis on asset-based and cash flow transactions

Berkeley Research Group (BRG), a leading global advisory firm, announced today that Scott Baxter has joined the firm as a managing director in its Energy & Climate practice. He will be based in the firm's Houston, Texas, office. He has over 30 years of global energy investment banking experience. He has been a primary advisor in executing over $200 billion in energy restructuring transactions, corporate mergers and acquisitions, private equity capital raises and independent fairness opinions to special committees.

Societe Generale has been appointed as joint lead arranger alongside KfW IPEX-Bank for the senior debt facility (“Debt Facility” or “Facility”) for the Tugaske Project (“Tugaske” or “Project”) finance package. Gensource is very pleased to formally add Societe Generale to the Facility team.

From the second quarter Phoenix Management “Lending Climate in America” survey results reveal COVID-19 has created pessimism in the U.S. economy’s near-term performance. The outlook for the U.S. economy saw a significant decrease in the near-term. The near-term grade point average (GPA) decreased 139 percentage points to 1.18 from the Q1 2020 GPA of 2.57, the lowest GPA since Q1 2009.

Pier 1, the seller of wicker chairs and scented candles, said it will go out of business and permanently close all 540 of its stores. The Texas-based company said Tuesday that it was unable to find a buyer for its business after filing for bankruptcy protection earlier this year.

Yesterday, Treasury Secretary Steven Mnuchin and Federal Reserve Chairman Jerome Powell provided the first public update on the Coronavirus Aid, Relief and Economic Security Act to the Senate Banking Committee.

Greystone, a leading national commercial real estate lending, investment, and advisory company, has provided $116,439,707 in mission-driven Freddie Mac loans to refinance three separate portfolios consisting of 34 total workforce housing properties in Los Angeles, California. The transactions were originated by Dale Holzer, managing director in Greystone’s Newport Beach office.