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  • Pier 1 Imports Asks Bankruptcy Court to Let it Skip Rent Payments
    April 6, 2020
    Retailers both in and out of bankruptcy court are informing landlords that they’re cutting or withholding rents as customers shelter at home and states order most merchants to close.
  • Lendio Launches Paycheck Protection Program Loan Application for Small Businesses
    April 6, 2020
    Hundreds of financial institutions across the U.S. are using Lendio’s streamlined digital application to facilitate COVID-19 relief funds for their small business clients Lendio, the nation’s leading small business loan marketplace, today announced the launch of an online application for small business owners to access the $349 billion in government funds set aside for the Paycheck Protection Program (PPP).
  • U.S. Well Services Finalizes Amendment to Senior Secured Term Loan and $21 Million Sale of Convertible Preferred Stock
    April 6, 2020
    Simmons Energy, A Division of Piper Sandler, acted as exclusive financial advisor to the Special Committee of the Board of Directors for U.S. Well Services, Inc.
  • Mount Street and Paul Hastings Join Forces on LIBOR Replacement Service for Real Estate Loans
    April 6, 2020
    U.K. financial regulators have sent clear signals, reinforced in an FCA statement published last week, that firms should stop issuing sterling-linked Libor cash products by the 3rd quarter of 2020 ahead of its discontinuation at the end of 2021. As a result, Mount Street and Paul Hastings LLP have joined forces to create a streamlined, process driven service offering to replace LIBOR in existing CRE loan documentation.
  • Amerisource Closes $5,000,000 Credit Facility for Fabrication Firm
    April 6, 2020
    Amerisource Business Capital announced the closing and funding of a $5,000,000 credit facility for a steel fabricator based in Montana. The proceeds were used to refinance existing bank debt and to support the company’s continued growth.
  • TD Bank Confirms No Job Losses in 2020 Resulting From COVID-19
    April 6, 2020
    TD Bank Group, of which TD Bank, America's Most Convenient Bank® is part, announced that there will be no job losses in 2020 as a result of COVID-19. Today's action follows the company's decision last week to introduce a special award of up to $1,000 along with two additional paid vacation days on top of the 10 days for all Colleagues previously announced. This benefit is available to part-time and full-time Colleagues who don’t currently have the option to work from home.
  • SSG Advises American Global Logistics, LLC in the Sale of Substantially all of its Assets to Terra Worldwide Logistics, LLC
    April 6, 2020
    SSG Capital Advisors, LLC (“SSG”) acted as the investment banker to American Global Logistics, LLC (“AGL” or the “Company”) in the sale of substantially all of its assets to Terra Worldwide Logistics, LLC. The transaction closed in March 2020. Headquartered in Atlanta, Georgia, American Global Logistics is a 3PL freight forwarder and 4PL technology solutions provider that empowers businesses to solve their biggest supply chain challenges.
  • Gordon Brothers and New Mill Capital Acquire Procter & Gamble Assets in Joint Venture
    April 6, 2020
    Gordon Brothers, the global advisory, restructuring, and investment firm, announces the acquisition of the real property and machinery and equipment associated with Procter & Gamble’s Kansas City, Kansas facility. The acquisition was completed in conjunction with joint venture partner New Mill Capital.
  • Tech Capital, LLC Hires Randall Haney as its Vice President of Business Development
    April 6, 2020
    Tech Capital, LLC, the asset-based finance company and wholly owned subsidiary of Tech CU, announced today that Randall Haney has joined the company as its new Vice President of Business Development. In his role, he will be responsible for business development.
  • SFNet Sends Letter to SBA and Treasury in Support of Non-bank Lenders Under CARES Act
    April 4, 2020
    SFNet’s CEO submitted a letter to US Treasury Secretary Mnuchin and Administrator Carranza of the Small Business Administration
  • Legacy Housing Corporation Announces New Credit Facility
    April 2, 2020
    Legacy Housing Corporation (the “Company”) (NASDAQ: LEGH), a leader in the manufactured housing industry, today announced the closing of a new four-year credit agreement with Capital One, N.A. (“Capital One”) that replaces the current agreement with Capital One that was due to expire on May 11 of this year.
  • Edgewell Personal Care Announces New $425 Million Revolving Credit Facility
    April 2, 2020
    BofA Securities, Inc and MUFG Bank, Ltd. acted as joint lead arrangers and joint bookrunners. Bank of America, N.A. acted as the administrative agent and MUFG Bank, Ltd. acted as the syndication agent. Also participating in the bank syndicate are TD Securities (USA) LLC, Barclays, Goldman Sachs Bank USA, Standard Chartered Bank, and The Northern Trust Company.
  • CIT Financing Speeds Protective N95 Masks to Healthcare Workers
    April 2, 2020
    CIT Group Inc. (NYSE: CIT) has provided critical financing for its client Aria Designs to help it procure millions of advanced N95 surgical masks that will protect medical professionals battling the COVID-19 pandemic. Aria Designs, a North Carolina-based furniture manufacturer and importer, is using its global supply chain and manufacturers to supply the much-needed protective masks.
  • Nucleus Commercial Finance Appoints Regional Sales Director
    April 2, 2020
    Nucleus Commercial Finance has appointed Riana Azam as regional sales director to expand its asset-based lending team in Yorkshire. With 14 years of industry experience, Riana joins Nucleus from Metro Bank, where she was business development director, providing funding to SMEs in the north of England.
  • FTI Consulting Releases 2020 Survey of U.S. Loan Market
    April 2, 2020
    FTI Consulting, Inc. (NYSE: FCN) today released the findings of its 2020 U.S. Loan Market Survey, which provides a glimpse into bank and non-bank lenders’ views against the backdrop of the COVID-19 pandemic and oil market price disruptions.
  • JinkoSolar Australia Signs AUD37 Million Line of Credit Agreement with the National Australia Bank‎
    April 2, 2020
    JinkoSolar Holding Co., Ltd. (the "Company," or "JinkoSolar") (NYSE: JKS), one of the largest and most innovative solar module manufacturers in the world, today announced that Jinko Solar Australia Holdings Co. Pty Ltd ("JinkoSolar Australia"), a subsidiary of the Company, has signed a one-year AUD37 million line of credit agreement with the National Australia Bank ("NAB").
  • Whiting Petroleum Corporation Reaches Agreement in Principle with Certain of Its Noteholders to Pursue Consensual Financial Restructuring
    April 2, 2020
    Moelis & Company is acting as financial advisor for the Company, Kirkland & Ellis is acting as legal advisor, Alvarez & Marsal is acting as restructuring advisor and Jeffrey S. Stein of Stein Advisors LLC is the Company’s Chief Restructuring Officer. PJT Partners is acting as financial advisor for the Consenting Noteholders and Paul, Weiss, Rifkind, Wharton & Garrison LLP is acting as legal advisor.
  • Private Equity Liquidity Hit by 10% VaR Caused by Coronavirus Crisis
    April 2, 2020
    CEPRES, the leading provider of portfolio forecasting for Private Markets, announced today they are advising clients to use 10% VaR (Value at Risk) forecasts for 2020 and 2021 due to the COVID-19 outbreak. CEPRES projects outcomes for more than 100 Institutional investor portfolios around the world including pensions, insurers and endowments based on their "PE.Forecast" software.
  • Retailers Extend COVID-19-triggered Temporary Closings Indefinitely
    April 1, 2020
    As efforts to curb the spread of COVID-19 expand, retailers are retooling their operations across the board.
  • Albert Delgado Joins Seacoast Business Funding
    April 1, 2020
    Seacoast Business Funding is pleased to announce the addition of Albert Delgado, as Vice President, Business Development Officer. Mr. Delgado is based on the West Coast and will focus on growing the portfolio in the region. Mr. Delgado has an extensive knowledge of the Invoice Factoring and Asset-Based Lending industry and brings a high level of expertise to solving complex financial challenges.