Stephano Slack, LLC, a leading regional accounting and consulting firm, has hired James Forgione, CPA as a Partner in the firm’s Accounting and Auditing Department, effective January 2, 2020. He has a blend of national and regional firm experience and a deep client service focus.

The Company has closed a new five-year, $533 million revolving credit facility to refinance 31 vessels. The size of the new debt facility was reduced since announcing the term sheet signing in November 2019 as a result of excluding five vessels from the new facility, including the three vessel sales noted above and a potential for further opportunistic vessel sales. The proceeds from the new debt facility will be used to repay approximately $455 million of the Company’s existing debt. The new debt facility has substantially similar terms and extends balloon maturities from 2020/2021 until the end of 2024.

U.S. Xpress Enterprises, Inc. (NYSE:USX) (the “Company”) today announced the refinancing of its Senior Credit Facility. Eric Peterson, Chief Financial Officer commented, “We appreciate the continued support from our lenders, with Bank of America, JP Morgan Chase Bank, Wells Fargo Bank, and Regions Bank all remaining in our bank group.

Nordea Bank Abp, New York Branch (“Nordea”), ABN AMRO Capital USA LLC (“ABN”), Crédit Agricole Corporate & Investment Bank, DNB Capital LLC and Skandinaviska Enskilda Banken AB (PUBL) acted as Mandated Lead Arrangers and Bookrunners. Nordea acted as Administrative Agent.

Private Lending Firm MCG, recently financed a New York-based fashion firm. The deal, worth $325 million, consists of a term loan in the amount of $195 Million and a $130 Million working line of credit. MCG has earned a reputation as the go-to lender for those in need of flexible capital. "Hybrids, a combination of a loan and line of credit, are complicated. We were able to get it done and give them favorable terms because they have had an a proven track record for over 25 years" said Stan Bril, CEO of MCG.

Castor Maritime Inc., a global shipping company specializing in the ownership of dry bulk vessels, today announced that it has successfully entered into two agreements: (i) a secured term loan financing agreement and (ii) a non-brokered private placement of unsecured convertible debentures. The secured term loan facility and the convertible debentures are subject to normal closing conditions.

Corporate delinquencies climbed to a record high of 153.5 billion yuan (US$22 billion) last year, up from 117.1 billion in 2018, according to Wind data. As China’s economic growth slows, more companies are likely to run into liquidity problems, while corporate earnings and cash flow are weakening, says A&M’s Ron Thompson

As part of its planned expansion of commercial banking talent and resources across the Northeast, KeyBank announced that Matthew Hummel has joined the bank in the newly created position of Commercial Banking team leader, reporting to market president James Barger. In his new role, Hummel will lead and expand the team of commercial bankers serving middle-market clients in Connecticut and Western Mass. and help drive KeyBank’s commercial business growth throughout the market.

LendCare Capital, a leading Canadian point-of-sale finance and technology company, announced today it has secured a new $100 million (CAD) financing commitment from a leading institutional asset manager. This facility supplements the company's current $250 million senior facility, and along with other existing relationships brings LendCare's total funding capacity to $450 million.

Bluestone Resources Inc. is pleased to announce that it has entered into a US$30 million credit facility with Natixis. Natixis is a French multinational financial services firm, and one of the lending banks in connection with a potential senior debt project financing package .

Amerisource Business Capital announced the closing and funding of a $1,500,000 revolving credit facility for a marble and granite wholesaler in North Carolina. The proceeds of the facility are being used for working capital, with availability against accounts receivable and inventory.

Ocwen Financial Corporation (NYSE: OCN) (“Ocwen” or the “Company”), a leading non-bank mortgage servicer and originator, announced today that it has entered into an amendment to its Senior Secured Term Loan (“SSTL”) that extends the maturity date to May 15, 2022. As part of the transaction, the outstanding balance of the SSTL was reduced from $326 million to $200 million.

Mountainside will provide direct funding to companies creating the right capital solutions for their businesses offering receivables financing and other ABL products including term loan opportunities as well as participations with other lenders. Flig, who will serve as President and CEO of Mountainside, has been in the commercial finance business for over 40 years.

CIT Group Inc. (NYSE: CIT) today announced that its Real Estate Finance business served as administrative agent for an $87 million loan to finance construction of a new logistics warehouse and storage facility adjacent to John F. Kennedy International Airport in Queens, N.Y. Triangle Equities Development Company and its partners Township Capital Inc. and L&B Realty Advisors LLP are planning to develop a five-story, 300,000-square-foot Terminal Logistics Center, which will be among the first multi-story industrial buildings in the U.S.

Keith Baars will serve as Senior Vice President, Commercial Banking Manager and lead a team of experienced commercial bankers in the Central region. Tony Braun and Mark Tushkowski will also join the team as Vice Presidents. The trio will office in the Wausau market and serve all of Central Wisconsin.

Completed transactions included: a $45 million line of credit to a Midwest steel mill to support the company’s ESOP transaction and to provide for ongoing working capital needs and $25 million line of credit to a Southeast finance company specializing in factoring and small ABL lines of credit. The line of credit supports the company’s growth and general working capital purposes.

Merchants Bancorp (NASDAQ: MBIN), along with subsidiaries Merchants Bank of Indiana ("Merchants Bank") and Merchants Capital Corp. ("Merchants Capital"), announces changes to its executive team, effective immediately. Merchants Bancorp Co-Founder Michael F. Petrie will continue to serve as Chairman and CEO of Merchants Bancorp and Chairman of Merchants Bank – positions he has held since 2006.

Prior to joining Coastal he was a Managing Director in the Financial Services Risk Management group at Ernst & Young, LLP, Chief Risk Officer at Sunwest Bank, and an attorney in Seattle with Dorsey & Whitney, LLP. Stines will lead the risk enterprise that is currently led by Dan Lee who has been both Chief Risk and Credit Officer. Lee will continue as Chief Credit Officer.

Southcross Energy Partners, L.P. today announced that the United States Bankruptcy Court for the District of Delaware has confirmed the Company’s Plan of Reorganization. Davis Polk & Wardwell LLP and Morris, Nichols, Arsht & Tunnell LLP are serving as legal counsel to Southcross, Alvarez & Marsal is serving as restructuring advisor and Evercore is serving as financial advisor.

EuroLife Brands (CSE: EURO) (FSE: 3CMA) (OTC Pink: EURPF) ("EuroLife" or the "Company"), a vertically integrated enterprise focused on the pan European hemp, cannabinoid, and health & wellness sector, is pleased to announce it has entered into a definitive financing agreement (the "Agreement") with European Equity Group, an international merchant bank with a primary focus on growth oriented small-cap companies, to secure a credit facility (the "Facility") in the amount of up to $2.5 million CDN (approximately €1,700,000).