Banks including Barclays Bank Plc and Goldman Sachs Group Inc. have almost $9 billion worth of high-risk loans and bonds weighing on their balance sheets and face a nervous wait for the credit markets to reopen before they can sell the debt. Financing has yet to launch for various deals including TDR Capital’s purchase of U.K. pub company EI Group, slated to bring in 1.35 billion pounds ($1.73 billion) to the high-yield bond market, and a 725 million-euro loan to back private equity firm Lone Star Funds’ acquisition of BASF’s construction chemicals unit.

BlueLinx Holdings Inc. (NYSE: BXC), a leading distributor of building and industrial products in the United States, today announced that it has completed a sale-leaseback transaction for its distribution facilities in Elkhart, Indiana, for net cash proceeds of $7.5 million.

The Joint Corp. (JYNT), a national operator, manager and franchisor of chiropractic clinics, closed a senior secured credit facility with J.P. Morgan Chase Bank, N.A. for $7.5 million, including a $5.5 million development line of credit (LOC) and a $2.0 million revolving LOC, which has an uncommitted accordion feature for an additional $2.5 million. The company repaid its previous LOC prior to December 31, 2019.

In addition, Vertiv closed an amendment on its $455 million asset-based lending (ABL) credit facility which, among other changes, extended the maturity to March 2, 2025 and lowered the applicable margin on loans thereunder by 0.25%.

FocalPoint Partners, a leading middle-market investment bank, is pleased to announce that the firm has promoted Connor Mitchell to Managing Director in Chicago and Bryant Yu to Director in Los Angeles. Combined, Messrs. Mitchell and Yu have more than 15 years of experience at FocalPoint.

Intrepid Investment Bankers LLC served as financial advisor to ALC on the transaction. Morgan Lewis served as ALC's legal advisors. BlackArch served as financial advisor for Palladium. Paul, Weiss, Rifkind, Wharton & Garrison LLP served as the legal advisor for Palladium. Morrison & Foerster served as financing counsel for Palladium.

Online lending startup Oriente announced late on Wednesday that it has secured a US$20 million debt funding facility from multi-asset investment firm Silverhorn Group. The facility, which can increase to US$50 million, will be used to grow and diversify the funding mix of the Hong Kong-based startup’s loan book, the startup said in a press release.

Leading global professional services firm Alvarez & Marsal (A&M) announces Jerry Dent and Phil Beckett as the new Practice Leaders of the firm’s Disputes and Investigations group in North America and Europe, respectively. In their new roles, Mr. Dent and Mr. Beckett will work to advance A&M’s complex problem-solving capabilities for clients facing a shifting regulatory, data-driven digital environment.

McDermott Will & Emery LLP represented Nautic in the transaction and Jefferies Finance LLC, Varagon Capital Partners L.P., and AEA Debt Management LP provided the financing for the transaction. Jefferies LLC and Mayer Brown advised Harrington.

Blank Rome LLP is pleased to announce that Vanessa G. Tanaka has joined the Firm as a Partner in the Finance, Restructuring, and Bankruptcy group in the Chicago office, which continues to expand following the recent additions of new partners Craig R. Culbertson and Paul H. Tzur. Vanessa joins Blank Rome from Willkie, Farr & Gallagher LLP.

Wharton's Michael Useem and Tyler Wry, and George Washington University’s Luis Ballesteros discuss how corporations can play a critical role during disasters like the coronavirus epidemic.

Allied Affiliated Funding, a division of Axiom Bank, N.A. closed $1,500,000 in receivables financing to a Texas-based trucking company that hauls frac sand, along with cement, fly ash and other non-hazardous dry bulk commodities for the oil and gas markets and $300,000 in receivables financing to a Texas-based boutique staffing company that provides temporary and permanent placement receivables, focusing on IT, finance and accounting, HR and office support roles.

ITFA, previously known as International Forfaiting Association, is the worldwide trade association for companies, financial institutions, and intermediaries engaged in trade and forfaiting. Stenn will also be part of the Trade Finance Distribution Initiative (TFDI), an ITFA working group with the ambition to modernize and standardise Trade Finance to efficiently include non-bank trade finance investors.

U.S.-based private equity firm Clayton, Dubilier & Rice said on Tuesday it will buy British advertising and marketing company Huntsworth for about 400 million pounds ($511 million), sending its shares surging 50%. Huntsworth's directors were advised by Rothschild & Co as to the financial terms of the deal, while BofA Securities were among financial advisers to CD&R.

The agreement with affiliates of Fortress Credit Co LLC ("Fortress"), senior lenders to the Company, provides total consideration of at least $138 million plus the assumption of certain liabilities. The transaction is expected to result in a reduction of the Company's debt by more than $140 million, or more than 60 percent, and additional liquidity for future investment. Today's announcement follows the closure in recent weeks of 37 of the Company's underperforming locations.

CEO Misha Galperin said most of the museum's $30 million in debt stems from loans the museum took out to fund the construction of its new building on Independence Mall between 2008 -- at the height of the economic recession -- and 2010, when the building was completed. Outside funding levels declined sharply due to the recession, necessitating the loans, officials said.

Avidbank Specialty Finance, a Division of Avidbank that specializes in technology, sponsor finance and asset-based lending, has provided Falcon Critical Care Transport with combined credit facilities of $9 million. The funding will be used for capital growth as the company expands its presence in Northern California.

The facility amount totaled USD 1 billion. The Mandated Lead Arrangers are Deutsche Bank AG, ING Bank NV, Société Générale, ABN AMRO Bank NV, Bank of China Limited, Crédit Agricole Corporate and Investment Bank, Credit Suisse AG, ICBC London, Natixis and PJSC «SOVCOMBANK». Other lenders in the facility are Bank of Montreal, DZ Bank AG, Intesa SanPaolo S.P.A., Mizuho Bank, Sumitomo Mitsui Banking Corporation, HSBC Bank PLC, KFW Ipex-Bank GMBH, Raiffeisen Bank International AG and Citibank N.A.

Comvest Credit Partners (“Comvest”) has acted as Administrative Agent and Lender in providing a $92.2 million Senior Secured Credit Facility (the “Financing”) to Cassavant Holdings, LLC (“Cassavant”), a vertically-integrated manufacturer of precision-machined components and sub-assemblies serving the aerospace and defense industries.

The continued worldwide spread of COVID-19 (the coronavirus disease) may weaken the U.S. dollar over the long run by impelling multinational corporates and foreign investors in the United States to repatriate money back to their home countries, said Kuniyuki Hirai, Managing Director and Head of Trading in the Americas for Mitsubishi UFJ Financial Group (MUFG). Mr. Hirai delivered his remarks at an MUFG media roundtable last week to discuss the coronavirus's implications for the global economy and currency markets.