• USPS Warns it Might Have to Shutter by June as $2 Trillion Coronavirus Stimulus Package Provides no Funding
    March 30, 2020
    With a negative net worth of $65 billion and an additional $140 billion in unfunded liabilities, the USPS originally expected to run out of liquidity by 2021 without intervention. That has accelerated rapidly because of COVID-19. Fewer people and businesses are sending mail because of the outbreak, which could hasten the decline of the Postal Service and close its doors as early as June, officials warned.
  • MUFG Pledges $3 Million to Support Those Affected by COVID-19
    March 30, 2020
    Mitsubishi UFJ Financial Group (MUFG) announced today that given the global impact and disruption of COVID-19, the company is taking measures to support communities in which it serves across the United States, Latin America and Canada, as well as clients and colleagues.
  • EY Capital Confidence Barometer Survey Forms Part of a Wider Range of Insights on the COVID-19 Crisis
    March 30, 2020
    Despite unprecedented social and economic paralysis, many global companies continue to plan major transformation programs. More than half (56%) of executives globally are opting to transform through transaction and plan an acquisition in the next 12 months, according to our Capital Confidence Barometer survey of more than 2,900 C-suite executives globally.
  • J D Factors Announces Factoring Facilities
    March 30, 2020
    J D Factors announced it has provided the following factoring facilities: $100,000 to a transportation company in Alberta; $500,000 to a security staffing company in Ontario; $2,500,000 to a transportation company in California...
  • The Howard Hughes Corporation® Closes On Two Loans Totaling Over $490 Million
    March 30, 2020
    The Howard Hughes Corporation® (NYSE: HHC) announced today its recent closing on two loans totaling over $490 million. A $356.8 million construction loan was secured at Ward Village® for its sixth residential mixed-use development, Kō'ula, reflecting continued strong demand to live in the acclaimed 60-acre master planned community transforming Oahu. In addition, a $137 million, 5-year term loan was secured for 9950 Woodloch Forest Drive, one of two premier Class AAA towers in The Woodlands® comprising the newly rebranded The Woodlands Towers at The Waterway.
  • Constellis Announces Successful Completion of De-Levering and Recapitalization
    March 30, 2020
    Constellis (or “the Company”), a leading provider of essential risk management and mission support services to government and commercial customers worldwide, announced today the successful completion of a comprehensive debt de-levering and recapitalization transaction with consent from 100% of its term loan and revolving lenders. As a result of the debt-for-debt and debt-for-equity exchanges, Constellis has significantly strengthened its balance sheet, reducing its debt by approximately $1.1 billion and annual cash interest payments by up to $90 million, while adding up to $50 million in new capital to support operations.
  • ViacomCBS Controlling Holder Restructures Credit Facility With Wells Fargo
    March 30, 2020
    Shares of ViacomCBS (VIACA) fell on Thursday, even as National Amusements Inc., the media titan's controlling shareholder, said it had forged an agreement with Wells Fargo to restructure its credit facility. “Following this amendment, NAI will have a revolving facility of $125 million and ample liquidity, in addition to its substantial cash reserves, to fund operations of NAIEH [NAI Entertainment Holdings], which includes its theater business,” National Amusements said in a statement.
  • Kohl’s Will Furlough About 85,000 Employees, Macy’s Furloughs Majority as Retailers Cope With Significant Sales Losses
    March 30, 2020
    Macy’s and Kohl’s said Monday that they will most furlough employees as the department store chains cope with significant sales losses during the coronavirus pandemic. Macy’s said the majority of its employees will go on furlough starting this week. Kohl’s said employees at stores and store distribution centers and some in store-related corporate positions will be furloughed.
  • CalAmp Extends $50 Million Credit Facility with J.P. Morgan
    March 30, 2020
    CalAmp (Nasdaq: CAMP), a global technology solutions pioneer transforming the mobile connected economy, today announced that it amended its existing $50 million credit facility with J.P. Morgan originally entered into on March 30, 2018. The new amendment extends the maturity of the credit facility by two years, among other changes.
  • OneWeb Files for Chapter 11 Restructuring to Execute Sale Process
    March 30, 2020
    OneWeb ("OneWeb," "the Company"), the global communications company with a mission to bring connectivity to everyone everywhere, announced today that the Company and certain of its controlled affiliates have voluntarily filed for relief under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of New York. The Company intends to use these proceedings to pursue a sale of its business in order to maximize the value of the company.
  • FCA Announces Signing of an Incremental Credit Facility of € 3.5 Billion
    March 30, 2020
    Fiat Chrysler Automobiles N.V. (NYSE: FCAU / MTA: FCA) (“FCA”) announced today that it has entered into a new credit facility (“Credit Facility”). The Credit Facility, entered into with two banks, will be available for general corporate purposes and for working capital needs of the Group and is structured as a bridge facility to support the Group’s access to capital markets.
  • Ares Management Corporation and Sumitomo Mitsui Banking Corporation Announce Strategic Agreement and Equity Transaction
    March 30, 2020
    Ares Management Corporation (“Ares”) (NYSE: ARES), Sumitomo Mitsui Financial Group, Inc. and Sumitomo Mitsui Banking Corporation (hereinafter referred as “SMBC,” together, the two are hereinafter referred to as “SMBC Group”) announced today that they have reached a strategic agreement to collaborate on future business opportunities. Citi served as financial advisor and Skadden, Arps, Slate, Meagher & Flom LLP served as legal advisor to SMBC Group. Goldman Sachs & Co. LLC served as financial advisor and Kirkland & Ellis LLP served as legal advisor to Ares.
  • Coronavirus Market Volatility Causes Modell’s to Delay Chapter 11 Process
    March 30, 2020
    Similar to XPO Logistics’ decision to postpone its exploration of divesting assets due to current market uncertainty caused by coronavirus, a bankruptcy court judge has granted a 45-day stay on the Chapter 11 filing of sporting goods retailer Modell’s due to the ongoing crisis and its impact on closing sales.
  • Jernigan Capital Upsizes Credit Facility to $375 Million with Reduced Pricing, Extended Maturity and Additional Banks; Provides Liquidity and Business Updates
    March 30, 2020
    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.
  • Airbnb Asks Banks To Extend $1B Credit Facility Due To Coronavirus Impact: Report
    March 30, 2020
    J.P. Morgan Chase & Co. (NYSE: JPM), Citigroup Inc. (NYSE: C), Bank of America Corp. (NYSE: BAC) and Morgan Stanley (NYSE: MS) together gave the $1 billion debt line to Airbnb in 2016. According to the Reuters source, Airbnb has never used the credit facility, and it doesn't expire for another year, but the company wants to boost its cash holdings to sustain the impact of the pandemic
  • iHeartMedia, Inc. Withdraws Full Year 2020 Guidance Due to COVID-19 Impact
    March 30, 2020
    iHeartMedia, Inc. (Nasdaq: IHRT) announced today that it is withdrawing its full-year 2020 financial guidance provided on its fourth quarter earnings call on February 27, 2020 due to heightened uncertainty related to the novel coronavirus pandemic (“COVID-19”), its impact on the operating and economic environment and related, near-term advertiser spending decisions.
  • CNL Strategic Capital Closes on Investment in Blue Ridge ESOP Associates
    March 30, 2020
    CNL Strategic Capital, LLC closed on a $12.5 million investment in Transition Finance Strategies LLC, which does business under the name Blue Ridge ESOP Associates (Blue Ridge). This is the sixth company in CNL Strategic Capital’s portfolio. CNL Strategic Capital is co-investing in Blue Ridge with LLCP Lower Middle Market Fund, L.P., an institutional fund and affiliate of Levine Leichtman Strategic Capital, LLC, the sub-manager of CNL Strategic Capital, as well as the existing owners and management team.
  • Cooper Standard Further Enhances Financial Liquidity with Renewal of Revolving Credit and European Factoring Facilities
    March 30, 2020
    Cooper Standard (NYSE: CPS) announced today that it has further enhanced its financial liquidity position through the renewal of its asset-based revolving credit ("ABL") facility and its European receivables factoring facility. The ABL facility, which was amended on March 24, 2020, provides a line of credit of up to $180 million, subject to borrowing base availability, with maturity in March 2025. The European factoring facility, which was renewed on March 2, 2020, allows the Company to factor up to €120 million of its Euro-denominated accounts receivable, accelerating access to cash and reducing credit risk.
  • Cubic Strengthens Financial Flexibility with Restructuring of Debt and Revolver Credit Increase
    March 30, 2020
    JPMorgan Chase Bank, N.A. will serve as the Administrative Agent for the credit facilities. JPMorgan Chase Bank, N.A., Bank of the West, MUFG Union Bank, N.A., Truist Bank and Wells Fargo Bank National Association acted as Joint Lead Bookrunners and Joint Lead Arrangers for the credit facilities.
  • With Profound Sadness, Jefferies Announces Death of Jefferies Group LLC CFO, Peg Broadbent
    March 30, 2020
    Jefferies Financial Group Inc. (NYSE: JEF) today announced with profound sadness that Peg Broadbent, the CFO of Jefferies Group LLC, has passed away from coronavirus complications. The entire Jefferies family mourns Peg’s loss. On behalf of our Board of Directors, management team and all our global employees, we extend our deepest sympathies to Peg’s family.
  • Feds Urge Small-Dollar Bank Lending Amid COVID-19 Crisis
    March 27, 2020
    Federal regulators said Thursday banks should think about providing small-dollar loans to help cash-strapped consumers during the coronavirus pandemic, guidance that consumer advocates say opens the door to predatory lending at the "worst possible time."
  • Scatec Solar Establishes Credit Facilities of $165 Million
    March 27, 2020
    Scatec Solar has signed new and expanded credit facilities with a bank consortium consisting of BNP Paribas, Nordea Bank and Swedbank. Scatec Solar has refinanced its current Revolving Credit Facility (RCF) and established a new USD 90 million ESG linked RCF with a 3-year tenor. The Company has furthermore secured an additional USD 75 million bank facility with tenor up to 18 months. Average interest rate margin for the two bank facilities is 280 basis points compared to 325 basis points for the RCF which has now been replaced.
  • ABN AMRO Extends Support Measures for Businesses Affected by Coronavirus
    March 27, 2020
    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 Announces Commercial Loan Officer Hiring
    March 27, 2020
    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.
  • Jernigan Capital Upsizes Credit Facility to $375 Million with Reduced Pricing, Extended Maturity and Additional Banks; Provides Liquidity and Business Updates
    March 27, 2020
    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.
  • AlixPartners Expands Performance Improvement Practice with New Managing Director, Mo Habbas
    March 27, 2020
    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.
  • A Message to the Secured Finance Community
    March 26, 2020
    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 (IP) Enters New $750M Revolving Credit Facility, Has Not Drawn Down Lines
    March 26, 2020
    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 Draws Down $150 Million From Revolving Credit Facility
    March 26, 2020
    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.
  • Financial Reporting Considerations Related to COVID-19 and an Economic Downturn
    March 26, 2020
    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:
  • Veteran Commercial Banking Executives Randy Cameron and Dave Wood Join Voya Investment Management to Lead Voya’s Regional and Community Bank Advisory Program
    March 26, 2020
    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).
  • Greenberg Traurig Re-Joins Forces with Leading Bankruptcy Guru Bruce Zirinsky
    March 26, 2020
    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.
  • Mexican SME Lender Credijusto Secures Credit Facility From Credit Suisse for $100 Million
    March 26, 2020
    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 Issues Letter to Stakeholders
    March 26, 2020
    Ares Capital Corporation announced today that it issued an open letter to its stakeholders regarding a business update amid the coronavirus (“COVID-19”) pandemic.
  • Kennedy Wilson Renews $500 Million Revolving Credit Facility
    March 26, 2020
    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 Advises LegalPartners on its Recapitalization by Eureka Equity Partners
    March 26, 2020
    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.
  • Altus Group Amends and Increases Credit Facility to $275 Million
    March 25, 2020
    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 Announces Increase in Commitments Under its Credit Facility
    March 25, 2020
    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.
  • Vesta Draws Down $85 Million From Existing $125 Million Revolving Credit Facility Reinforcing Company's Strong Balance Sheet
    March 25, 2020
    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 Draws Down $1.17 Billion From Its Revolving Credit Facility
    March 25, 2020
    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.
  • Unlike a Typical Downturn, Services Have Been Hit Hardest...So Far
    March 25, 2020
    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 Completes Fundraising for Middle Market Senior Loan Fund II (and Related Vehicles) with $2 Billion in Limited Partner Commitments
    March 25, 2020
    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.
  • Crestmark Provides More Than $49.4 Million in Commercial Financing to 70 Businesses in the First Half of March
    March 25, 2020
    Crestmark secured a total of $20,250,000 in ABL financial solutions for seven new clients; Crestmark Equipment Finance provided $13,763,020 in 6 new lease transactions; Crestmark Vendor Finance provided $5,524,480 in 52 new lease transactions; and the Government Guaranteed Lending Division provided $9,900,000 in financing for five new client in the first half of March.
  • Charlotte's Web Announces Line of Credit with J.P. Morgan and Engagement for Commercial Banking Services
    March 24, 2020
    Charlotte's Web Holdings, Inc. ("Charlotte's Web" or the "Company") the market leader in hemp-derived extract products, has entered into a new Asset Backed Line of Credit with J.P. Morgan for $10 million with an accordion feature to extend the line to $20 million with a 3 year maturity. In addition, Charlotte's Web has engaged J.P. Morgan for commercial banking services including merchant processing services to support the Company's global growth.
  • Flushing and Empire Announce Delay of Closing of Merger; Merger Consideration Election Process Extended
    March 24, 2020
    Flushing Financial Corporation (FFIC) (“Flushing”), parent company of Flushing Bank, and Empire Bancorp, Inc. (EMPK) (“Empire”), parent company of Empire National Bank, announced today that the closing of the previously announced merger of Empire with and into Flushing (the “merger”) will be delayed due to the severe instability and volatility in the U.S. financial and stock markets.
  • Neiman Marcus in Bankruptcy Talks with Lenders: Bloomberg Law
    March 24, 2020
    Luxury retailer Neiman Marcus Group Inc is in talks with lenders to file for bankruptcy as it struggles to ease its $4.3 billion debt load, Bloomberg reported on Monday, citing people familiar with the matter.
  • Honeywell to Discuss New $5 Billion Term Loan With Banks
    March 24, 2020
    Honeywell International Inc. is in discussions with banks to raise a new $5 billion term loan, according to people familiar with the matter. The new loan is expected to have a maturity of two years, the people said, asking not to be named because the discussions are private. A representative for Honeywell confirmed the discussions, but did not give specific details.
  • Contura Announces Partial Draw Down of Revolving Credit Facility
    March 24, 2020
    Contura Energy, Inc. (NYSE: CTRA), a leading U.S. coal supplier, today announced the Company has drawn down $57.5 million in principal amount under its revolving credit facility as a proactive, precautionary measure in light of the COVID-19 pandemic and its potential effects upon national and world economies.
  • Axiom Bank Offering Support for Customers Affected by Covid-19
    March 24, 2020
    Axiom Bank, N.A., a Maitland-based, leading community bank, is offering support for its commercial and consumer customers who are being financially affected by the COVID-19 pandemic.
  • Hitachi Business Finance Welcomes Mark Simshauser to Business Development Team
    March 24, 2020
    Simshauser is based in the New York region and is responsible for connecting with business owners and trusted advisors and communicating the variety of flexible financing options offered by Hitachi Business Finance. He will act as a resource to help determine the most effective means to accessing capital for growing businesses.
  • Hilco Global Retail Group Issues Strategic Recommendations Through October 2020 For Lenders With Retail Market Portfolio Exposure During COVID-19 Crisis
    March 24, 2020
    Hilco Global has issued a series of short- and mid-term strategic recommendations to assist lenders with current portfolio exposure in the retail market to take appropriate and informed action during the near-term fallout of the current COVID-19 pandemic.
  • Republic Provides a $2.0 million ABL Facility to Natural Food Manufacturer
    March 24, 2020
    Republic Business Credit partners with an industry expert to provide a scalable asset-based loan for a plant-based products company.
  • Royal Caribbean Receives $2.2 Billion Loan to Enhance Liquidity
    March 23, 2020
    Royal Caribbean Cruises Ltd. has announced that they have received a $2.2 billion secured loan facility to enhance the company’s liquidity position. The facility can be extended at the company’s option for an additional 364 days. The company has borrowed the full amount available under the term loan to further bolster its liquidity.
  • SpeakEasy Announces $3.27 Million in Loan Financing
    March 23, 2020
    SpeakEasy Cannabis Club Ltd. (" SpeakEasy" or the " Company") (EASY.CN) (39H.F) is pleased to announce that it has secured loan financing in the aggregate principal amount approximately $3.27 million (collectively, the " Loan Financing").
  • Capri Holdings Limited Amends Revolving and Term Loan Credit Agreement
    March 23, 2020
    Capri Holdings Limited (NYSE:CPRI), a global fashion luxury group, today announced it amended the Company’s Revolving and Term Loan Credit Agreement. The maturity of Tranche A-1 Term Loans due in December 2020 was extended to December 2023 for $267 million of the outstanding balance of $315 million. The remaining $48 million for Tranche A-1 is the Company’s only debt maturity prior to 2023. The Tranche A-2 Term Loan, with a current balance of $700 million, and the Revolving Credit Facility continue to have maturity dates of December and November 2023, respectively.
  • A-Mark Precious Metals Renews $270 Million Revolving Credit Facility
    March 23, 2020
    Rabobank acted as Administrative Agent, Bookrunner and Joint Lead Arranger, and Natixis acted as Joint Lead Arranger and Syndication Agent.
  • NMI Holdings Amends and Extends Revolving Credit Facility, Expanding Lender Group and Increasing Capacity to $100 Million
    March 23, 2020
    J.P. Morgan, RBC Capital Markets and SunTrust Robinson Humphrey served as joint lead arrangers on the transaction with additional commitments made by Citibank and Deutsche Bank.
  • LICT Corporation Closes on a New $50 Million Revolving Credit Facility Provided by CoBank
    March 23, 2020
    LICT Corporation (“LICT” or the “Company”; OTC Pink ®: LICT) has borrowed the entire $50 million under its revolving credit facility with CoBank. The addition of the $50 million in new borrowings increases LICT’s pro-forma gross cash balance to just under $90 million with net cash of $76 million. LICT expects to continue to generate free cash flow throughout the year.
  • Capital Southwest Increases Credit Facility to $325 Million
    March 23, 2020
    Capital Southwest Corporation (“Capital Southwest” or the “Company”; Nasdaq: CSWC), an internally managed business development company focused on providing flexible financing solutions to support the acquisition and growth of middle market businesses, today announced an increase of its Senior Secured Credit Facility (the “Credit Facility”) from $295 million to $325 million.
  • Citizens Hires Don Mastro as Head of ABL Portfolio Management
    March 23, 2020
    Mastro, who will be based in Chicago, most recently managed a team of professionals overseeing $6 billion of assets as the central region ABL Portfolio Management leader at Bank of America. He has held a variety of ABL roles over his 25 years as senior banker, including origination, underwriting, field examination and trainer. A graduate of Lake Forest College, he earned his MBA from Loyola University Chicago. He is a nationally certified hockey coach and Special Olympics volunteer.
  • BRIEF-Fitch Says Coronavirus Crisis Is Crushing Global GDP Growth
    March 23, 2020
    Fitch says Coronavirus Crisis is crushing global GDP growth.
  • Amerisource Closes $1,000,000 DIP Facility for Limestone Quarry
    March 23, 2020
    Amerisource Business Capital announced the closing and funding of a $1,000,000 DIP credit facility for a limestone quarry based in Missouri.
  • Delta Air Lines (DAL) Announces $2.6 Billion Secured Credit Facility, Suspends Buyback and Dividend
    March 23, 2020
    Delta Air Lines (NYSE: DAL) today announced it has entered into a $2.6 billion secured credit facility, enhancing the company’s liquidity as it manages through an unprecedented decline in air travel demand due to the COVID-19 outbreak. The company is also drawing $3 billion under its existing revolving credit facilities.
  • Fed Makes 'Aggressive' Move to Back Corporate Debt Markets, Main St.
    March 23, 2020
    The Federal Reserve called a third emergency meeting to combat the economic impact of the novel coronavirus and unveiled a number of new and “extensive” measures on Monday that would expand the Fed’s efforts to calm corporate debt markets. The Fed also said a direct lending program to Main Street businesses will be announced soon.
  • The Coronavirus Crisis Could See 37 Million Jobs Lost, and These Workers Will Be the Hardest Hit, Chart Shows
    March 23, 2020
    Industries from energy and airlines to cruise operators are being hammered and a recent research piece by the developers of the U.S. Private Sector Job Quality Index estimates that some 37 million domestic jobs are vulnerable to layoffs due the temporary shutdowns created by the viral outbreak. COVID-19 was first identified in Wuhan, China, in December and has infected more than 318,000 people worldwide and claimed nearly 14,000 lives, according to data compiled by Johns Hopkins University as of Sunday afternoon. “There is a sub
  • Moody’s- Pandemic Impact on Americas Securitizations Varies and Depends on Duration and Evolving Events
    March 23, 2020
    The ability of securitization notes to withstand the fallout of the pandemic will depend on its duration and issues including the strength of structural protections, according to a Moody's Investors Service analysis of bonds they rate. Moody's analysis partly reflects the rating agency's most recent baseline macroeconomic assumptions. The report notes that declines in interest rates, lower oil prices and ongoing government actions will have mixed effects.
  • New Business Development SVP, Mark Pickering, Brings 25+ Years of Experience to Gibraltar’s Team
    March 23, 2020
    Gibraltar welcomes Mark Pickering as the newest member of our expert business development team. He is an SVP based in Atlanta, covering the states of Georgia, Tennessee, Alabama, and Mississippi.
  • PwC’s COVID-19 CFO Pulse Survey: What finance leaders are focused on
    March 23, 2020
    A new PwC pulse survey shows how finance leaders plan to react to COVID-19 — and what impacts they expect to see. Fifty leaders from a cross section of industries weighed in from the US and Mexico during the week of March 9. The survey will continue so we can track changing sentiments and priorities.
  • Monroe Capital Arranges Credit Facility for Buy of Shaw Development
    March 23, 2020
    Monroe Capital LLC (“Monroe”) today announced it acted as sole lead arranger and administrative agent on the funding of a senior credit facility to support the acquisition of Shaw Development, LLC (“Shaw”) by private equity sponsor Monomoy Capital Partners. Founded in 1944 and based in Bonita Springs, Florida, Shaw is a designer, manufacturer and assembler of sensors, fluid management systems and related components primarily for diesel exhaust fluid (“DEF”) applications.
  • TopBuild Upsizes Senior Secured Credit Facilities
    March 23, 2020
    Bank of America, JP Morgan Chase and PNC Bank served as Joint Lead Arrangers and Joint Book Runners on the new credit facilities.
  • Republic Partners with Midwest Equity Sponsor to Provide a $3.65 Million Facility to Communications and Utility Contractor
    March 23, 2020
    Republic was chosen by the sponsor and consultant due to its flexibility, creativity, experience and its reputation for approving its original term sheets. The private equity firm acquired the company several years before, but brought in the turnaround consulting firm once it realized the management team needed immediate support and long-term improvement. The turnaround consultant knew of Republic’s commitment to the corporate renewal of companies with its President, Robert Meyers, recently completing his year as President of the Midwest Chapter of the Turnaround Management Association.
  • TradeCap Partners Closes $5.5 million Purchase Order Facility for Audio/Visual-IT Integration Company
    March 23, 2020
    TradeCap Partners (“TradeCap”) recently announced the closing of a $5.5 million Purchase Order Facility for an East coast based Audio/Visual-IT Integration Company to support a large public sector contract award to upgrade existing technology.
  • DXP Enterprises Announces Increase to Asset Based Loan Facility
    March 23, 2020
    DXP Enterprises, Inc. (NASDAQ: DXPE) today announced that it entered into a $50 million Increase Agreement (the “Increase Agreement”), by and among DXP Enterprises, Inc. (the “Company”), certain of the Company’s US subsidiaries, as borrowers, certain of the Company’s Canadian subsidiaries, as borrowers, the incremental lenders party thereto and Bank of America, N.A., as agent.
  • Internap Corporation Enters into $75 Million DIP Facility with Jefferies
    March 23, 2020
    Internap Corporation, as debtor and debtor-in-possession ("INAP"), and certain of its subsidiaries, as debtors and debtors-in-possession (collectively with INAP, the "Company"), entered into a Senior Secured Super-Priority Debtor-In-Possession Credit Agreement with Jefferies Finance LLC, as administrative agent and collateral agent, and the lenders party thereto. As previously reported by INAP on March 16, 2020, the Company filed voluntary petitions for relief under Title 11 of the United States Code with the United States Bankruptcy Court for the Southern District of New York, White Plains Division
  • Rogers Herndon and Danny Boyer Join Alvarez & Marsal as Managing Directors in Houston
    March 23, 2020
    Leading global professional services firm Alvarez & Marsal (A&M) announces the addition of Rogers Herndon and Danny Boyer as Managing Directors to its Energy practice based in Houston. These hires demonstrate A&M’s commitment to helping clients in the energy industry address increasingly complex challenges to best maximize value.
  • A CEO Plan for Coronavirus: Actions to Take Now
    March 20, 2020
    The Covid-19 outbreak is unlike any previous crisis: traditional crisis-response approaches will not be sufficient. CEOs need to act now, and act aggressively.
  • Half of UK & US Firms Predict a Recession in 2020 and a Third Predict a Global Recession
    March 20, 2020
    Dr. Kerstin Braun, President of Stenn Group, commented: “2019 was weaker than expected and the stakes are only higher for 2020. Governments around the world are having to act forcefully to prevent the economic hit from Covid-19 deepening, taking a coordinated approach and opening the liquidity pipe for both fiscal and monetary support.
  • Report on Meeting with Senior Executives at OCC
    March 19, 2020
    Richard Gumbrecht, SFNet CEO, met with representatives of the Office of the Comptroller of the Currency last week to discuss issues of importance to our respective missions. Participating were Lou Ann Francis, Director of Commercial Credit Risk who oversees Asset Based Lending for the OCC and her staff as well as her boss Richard Taft, Deputy Comptroller of Credit Risk
  • SBA to Provide Economic Injury Disaster Loans for Coronavirus Related Economic Interruptions
    March 19, 2020
    Information on relief loan programs can be found be clicking here.
  • Westwood Financial Announces Inaugural $95 Million Revolving Credit Facility
    March 19, 2020
    The inaugural facility matures in December 2022, with two, one-year extension options thereafter. Based upon the leverage levels at closing, the interest rate under the revolving facility is LIBOR plus 185 basis points. The facility also has an accordion feature that allows for borrowing capacity of up to $300 million. KeyBank serves as Administrative Agent and Lead Arranger and Mizuho Bank, City National Bank, and First Financial Bank serve as participating lenders.
  • Wanda Sports Group Successfully Completes Refinancing
    March 19, 2020
    Wanda Sports Group Company Limited (WSG) (the “Company”) today announced that the Company signed a $240 million senior term loan facility agreement with Credit Suisse AG, Singapore Branch, enabling the Company to refinance and prepay its existing senior 364-day term loan facility, dated March 15, 2019.
  • Acreage Announces Initial Close of Previously Announced Credit Facility and Loan Transaction
    March 19, 2020
    Acreage Holdings, Inc., one of the largest vertically integrated, multi-state operators of cannabis licenses and assets in the U.S., today announced (i) the first closing and drawdown of $21 million on the previously announced $100 million credit facility, with net proceeds of approximately $20.2 (excluding placement fees) to Acreage, and (ii) the borrowing of $22 million by an Acreage subsidiary (“IP Borrower”) from IP Investment Company, LLC in a transaction that represents the initial borrowing under the previously announced loan transaction.
  • Boyd Group Services Inc. Enhances Financial Flexibility And Facilitates Future Growth
    March 19, 2020
    The lending institutions participating in the Facility include The Toronto-Dominion Bank as lead arranger, Bank of America, National Bank of Canada , The Bank of Nova Scotia , and Canadian Imperial Bank of Commerce. The Term Loan is provided through TD Bank, N.A.
  • L Brands Leans on its Revolver for Cash as it races for Store Shutdowns
    March 19, 2020
    L Brands has drawn $950 million from its revolving credit facility, giving the company more than $2 billion in cash. The move was made "in an abundance of caution and as a proactive measure" amid temporary coronavirus-related store closures, per a company press release. L Brands also withdrew its previous earnings guidance for the current quarter given uncertainty around the COVID-19 pandemic's impact.
  • Hotels Chains Maneuver to Deal With Coronavirus Gut Punch
    March 19, 2020
    From furloughs and layoffs to withdrawn guidance and loyalty program modifications, the big hotel chains were maneuvering to survive the novel coronavirus outbreak. The actions they are taking are hardly novel as they’ve been used by hotels and other industries during past crises such as 9/11 and the 2008 financial crisis.
  • Jon Harmon Joins Virtas Partners as Director
    March 19, 2020
    Jon Harmon has joined Virtas Partners as Director, leading the firm’s strategic communications services. Virtas Partners is an advisory firm helping clients successfully navigate key transitions, including acquisitions, divestitures, IPOs, carve-outs, accounting investigations & restatements, corporate restructurings, turnarounds and capital placements.
  • AMNS Luxembourg Holding S.A. Signs Loan Agreement
    March 19, 2020
    On 17 March 2020, AMNS Luxembourg Holding S.A. (“AMNS”), the parent company of the AMNS India joint venture in partnership with Nippon Steel Corporation (“NSC”), entered into a $5.146 billion ten-year term loan agreement with Japan Bank for International Cooperation (“JBIC”) and MUFG BANK, LTD. , SUMITOMO MITSUI BANKING CORPORATION, MIZUHO BANK EUROPE N.V., and SUMITOMO MITSUI TRUST BANK, LIMITED (LONDON BRANCH).
  • Schulte Roth & Zabel Reconstitutes Crisis Working Group
    March 19, 2020
    In response to current market volatility and COVID-19, law firm Schulte Roth & Zabel (SRZ) has reconstituted its SRZ Market Conditions Working Group from the global financial crisis. The firm also opened its COVID-19 Resource Center at www.srz.com, and as of today, the lawyers have published more than 20 SRZ Client Alerts thus far this week on a range of crisis-related topics.
  • Tiger Group to Auction Surplus Pro-Grade Audiovisual Gear From The Camera Division
    March 19, 2020
    Tiger Group on March 31 will hold an online-only auction of excess pro-grade audiovisual gear from The Camera Division (TCD), the one-stop rental house formed in 2017 by the successful merger of The Camera House and Division Camera. The offering includes digital and video cameras, zoom lenses, lighting, matte boxes, monitors, jib arms, sliders, tripods, camera accessories, media, filters, and more.
  • Monroe Capital Corporation Announces Share Purchases by Officers, Directors and Senior Management
    March 19, 2020
    Monroe Capital Corporation (the “Company”) (NASDAQ: MRCC) today reported the purchase of more than 237,500 shares of MRCC common stock by officers and directors of the Company and senior management of Monroe Capital Management Advisors, LLC (“MCMA”), an affiliate of the Company’s investment advisor, in open market transactions recently.
  • Huntington Commercial Banking Director Rick Remiker Announces Plan to Retire
    March 19, 2020
    After more than 38 years in financial services, Huntington (Nasdaq: HBAN; www.huntington.com) Commercial Banking Director Rick Remiker has announced his decision to retire in May 2020. Remiker joined Huntington in 2010 to lead the bank's equipment finance business. He subsequently led specialty banking and in 2014 assumed leadership of the commercial bank.
  • Finitive Facilitates $100 Million Loan in the Equipment Leasing Sector
    March 18, 2020
    Finitive's platform, which includes a network of 500 institutional investors, allows it to efficiently match non-bank lenders with investors based on criteria such as asset class, loan size, target yield range and more.
  • INAP Takes Action to Strengthen Capital Structure for the Future, Entering into Restructuring Support Agreement with Ad Hoc Lender Group
    March 18, 2020
    Internap Corporation today announced definitive steps through which it expects to significantly reduce debt and extend maturities, equipping INAP to generate the cash flows needed to grow the business and reinvest in its products and customers. To support this strengthening of its capital structure, INAP entered into a Restructuring Support Agreement (the "RSA") with an ad hoc lender group (the "Ad Hoc Lender Group") holding approximately 77% of its outstanding term loans. With support of the Ad Hoc Lender Group, INAP and each of its U.S. subsidiaries filed voluntary petitions under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of New York.
  • M&P Secures the Re-Profiling of Its Debt Repayments
    March 18, 2020
    Etablissements Maurel & Prom announces the signature of amendment agreements to re-profile the repayment of its two debt facilities, the $600 million term loan with a syndicate of lenders and the $200 million loan from M&P’s controlling shareholder PT Pertamina International Eksplorasi Dan Produksi. The banks participating in the Term Loan are Bank of Tokyo-Mitsubishi UFJ, Natixis, PT Bank Mandiri, Sumitomo Mitsui Banking, Crédit Agricole, DBS, ING, HSBC and PT Bank Negara Indonesia.
  • Radiant Logistics Announces New $150M Secured Credit Facility
    March 18, 2020
    BofA Securities, Inc. acted as the sole book runner and sole lead arranger for the syndicated credit facility. Bank of Montreal acted as lender and syndication agent. MUFG Union Bank, N.A. acted as lender and documentation agent. Bank of America, N.A., Keybank National Association and Washington Federal Bank, National Association also acted as lenders. Bank of America, N.A. will also serve as administrative agent.
  • Newpoint Advisors Appointed the First Trustee in New Bankruptcy Code
    March 18, 2020
    Newpoint Advisors Corp., a national financial advisory firm focused on small companies, announced a senior staff member has become the first Trustee appointed to a case under Subchapter V of the Small Business Reorganization Act of 2019 (SBRA) that went into effect on February 19, 2020, Subchapter V Trustee Tim Stone, a Senior Managing Director at Newpoint, was named Trustee for the first case filed under the new law in the Middle District of Tennessee. Plans are expected to be finalized within 90 days of the filing.
  • Troutman Sanders and Pepper Hamilton Postpone Merger in Response to Covid-19 Pandemic
    March 18, 2020
    National duo delay deal to the summer as leaders of newly merged Faegre Drinker praise staff for level of collaboration in face of crisis.
  • Financial Agencies Urged To Halt All Non-COVID Rulemakings
    March 18, 2020
    A top Senate Democrat is calling for federal financial regulators to shelve all their rulemaking projects that aren't directly related to the COVID-19 pandemic, saying their attentions right now need to be on protecting the financial system and mitigating economic fallout from the outbreak.
  • Business Capital Delivers $8M Financing for Pharmaceutical Company
    March 18, 2020
    Business Capital structured and delivered an $8M secured asset-based credit facility for Nivagen Pharmaceuticals, a specialty company that develops and sells generic prescription drugs for the North American market. Nivagen is focused on building a sustainable portfolio of therapeutics, which treat a wide variety of ailments, and has launched over 15 generic products which are sold through multiple channels
  • Heinan Landa, CEO and Founder of Optimal Networks, a Globally-ranked IT Services Firm, Provides Online Security Tips
    March 18, 2020
    As the coronavirus continues to spread, cybercriminals are using this public health crisis to spread phishing emails and create malicious domains for a variety of fraud -- targeting major companies and people working from home. Heinan Landa, CEO and Founder of Optimal Networks, a globally-ranked IT services firm, and author of The Modern Law Firm: How to Thrive in an Era of Rapid Technological Change can discuss online security and what you can do to protect yourself.
  • Citizens M&A Advisory Exclusively Advises DASCO Home Medical Equipment on Recapitalization
    March 17, 2020
    Citizens M&A Advisory announced today that it served as the exclusive financial advisor to DASCO Home Medical Equipment in its recapitalization by Silver Oak Service Partners. DASCO will continue to operate under the leadership of CEO Rachel Mazur and President Jason Seeley. Headquartered in Westerville, Ohio, DASCO is a leading regional distributor of durable medical equipment, specializing in respiratory equipment such as home oxygen, non-invasive ventilation and CPAP equipment for sleep apnea.
  • Citizens M&A Advisory Advises TopBloc on its Recapitalization by BV Investment Partners
    March 17, 2020
    Citizens M&A Advisory served as the exclusive financial advisor to TopBloc, a Workday (NASDAQ: WDAY) services partner and provider of fixed-time, fixed-price Workday deployment services and on-demand Workday support, on its recapitalization by BV Investment Partners ("BV"), a Boston-based private equity firm focused on information and business services and communications industries.
  • NFIB Study: Coronavirus Impact on Small Businesses
    March 17, 2020
    The NFIB Research Center released the following data today on the impact Coronavirus has had on small businesses: The NFIB Research Center’s new survey on the current impact of the coronavirus outbreak on small business found that while most small businesses are not currently impacted, owners are concerned about future disruptions if the outbreak continues to escalate.
  • Antares and Bain Capital Credit Support AE Industrial Partners’ Acquisition of G.S. Precision
    March 17, 2020
    The Antares Bain Capital Complete Financing Solution (“ABCS”), a joint venture between Antares and Bain Capital Credit, today announced the closing of a senior secured unitranche credit facility to support the acquisition of G.S. Precision by AE Industrial Partners (“AEI”).
  • UPM Signs a EUR 750 Million Revolving Credit Facility With a Margin Tied to Long-term Biodiversity and Climate Targets
    March 17, 2020
    BNP Paribas acted as a sustainability coordinator for the facility. “Promoting biodiversity through finance is an essential lever in tackling the climate crisis. As a bank committed to innovation towards the transition, we are proud to support UPM in their strategy to accelerate sustainable forest management through finance. This transaction highlights the positive role of sustainable finance to link to progressive decarbonisation targets, which can jointly protect ecosystems,” says Marjo Liukkonen Lazaro, Head of BNP Paribas Finland.
  • TransAct Technologies Secures New $10 Million Revolving Credit Facility
    March 17, 2020
    TransAct® Technologies Incorporated (Nasdaq: TACT) (“TransAct” or “the Company”), a global leader in software-driven technology and printing solutions for high-growth markets, today entered into a new $10 million asset based revolving credit facility, replacing the Company’s existing $20 million credit facility.
  • Consumer Products and Digital Expert Rob Denardo Joins AlixPartners as a Managing Director
    March 17, 2020
    AlixPartners, the global consulting firm, announced today that consumer products and digital expert Rob DeNardo has joined as a Managing Director in the firm’s worldwide consumer products practice. He will be based in AlixPartners’ Chicago office. Rob brings more than 20 years of strategy and operations experience, helping companies define transformations to deliver exceptional value and to enable competitive advantage and growth with proven results. In addition to North America, he has also worked extensively in Europe and Asia.
  • INTL FCStone Financial adds industry veteran Drew Doscher as Head of Distressed Debt
    March 17, 2020
    INTL FCStone Inc. (NASDAQ: INTL) today announced that the Fixed Income Division of its wholly owned subsidiary, INTL FCStone Financial Inc. (“the Company”), has hired Drew Doscher as Head of Distressed Debt Sales and Trading. Doscher will build INTL FCStone Financial’s distressed debt trading capabilities and lead the Company’s strategy for distressed loans and debt, private credit, private equity, trade claims and litigation stubs.
  • Allied Affiliated Funding Appoints Kimberly Smotherman, Chief Credit Officer, Factoring & ABL
    March 17, 2020
    Prior to joining Allied, Smotherman was the Chief Operating Officer/Risk Management Lead of Power Funding, Ltd. where she oversaw the underwriting department and risk/credit management. Before then, she was the Corporate Manager at Swan Transportation Services, LLC for 11 years where she became a Transportation Intermediaries Association Certified Transportation Broker.
  • Mandalay Resources Corporation Announces Syndicated $65M Credit Facility and Redemption of Gold Bonds
    March 17, 2020
    Mandalay Resources Corporation is pleased to announce that it has entered into a credit agreement with HSBC Bank Canada and Macquarie Bank Limited providing for (i) a senior secured revolving credit facility in an aggregate amount of up to US$25 million and (ii) a senior secured term credit facility in an aggregate amount of up to US$40 million. The Syndicated Facility amends and restates the Company’s existing bilateral US$40 million revolving credit facility with HSBC, which was scheduled to mature on July 24, 2020.
  • Huntington Business Credit Closes $24 Million in Credit Facilities With Chicago American Manufacturing, LLC
    March 16, 2020
    Huntington Business Credit announced it closed new $24,400,000 credit facilities with Chicago American Manufacturing, LLC on February 20, 2020. Proceeds of the facilities were used to refinance existing debt and provide ongoing working capital growth financing.
  • North Mill Capital Closes $19 Million Credit Facility to Allied West Paper Corporation
    March 16, 2020
    The total credit facility was comprised of a $15,000,000 revolving line of credit and a $4,000,000 equipment term loan. The proceeds were used to pay off the existing senior revolving and term loan lenders and provide additional working capital for growth purposes.
  • CohnReznick’s Clancy Named Liquidating Trustee for New England Motor Freight, et al.
    March 16, 2020
    CohnReznick LLP, one of the leading advisory, assurance, and tax firms in the United States, today announced that it will continue its work on the New England Motor Freight, Inc. Chapter 11 case with Kevin Clancy, Global Director of the firm’s Restructuring and Dispute Resolution Practice, appointed as the Liquidating Trustee. Clancy’s appointment last month means that he and his team will oversee the wrap-up of New England Motor Freight’s case by monetizing the remaining assets and making distributions to trust beneficiaries.
  • DLA Piper Grabs Private Equity Trio From Winston & Strawn
    March 16, 2020
    DLA Piper has added a trio of partners from Winston & Strawn as the global firm looks to build out its private equity firepower in New York and internationally. James Kelly, Ilya Bubel, and Peter Alfano have joined DLA Piper in New York. Kelly and Bubel will be partners in the firm’s corporate practice while Alfano will be a partner in its finance practice.
  • Gemino Healthcare Finance Provides Financing for Midwest Skilled Nursing Facility
    March 16, 2020
    Gemino Healthcare Finance provided a $3 million mortgage term loan and a $750,000 asset-based revolving line of credit for a skilled nursing facility based in the Midwest.
  • Antares and Bain Capital Credit Support AE Industrial Partners’ Acquisition of G.S. Precision
    March 16, 2020
    The Antares Bain Capital Complete Financing Solution (“ABCS”), a joint venture between Antares and Bain Capital Credit, today announced the closing of a senior secured unitranche credit facility to support the acquisition of G.S. Precision by AE Industrial Partners (“AEI”).
  • NXT Capital Closes Credit Facility in Support of The CapStreet Group and Ridgemont Equity Partners’ Merger of Marco Group International and APE Companies
    March 16, 2020
    NXT Capital announced today that it closed a senior credit facility to finance The CapStreet Group and Ridgemont Equity Partners’ merger of Marco Group International and APE Companies. NXT Capital acted as the Joint Lead Arranger, Sole Bookrunner and U.S. Agent for this transaction.
  • Churchill Downs Incorporated Announces Extension and Reduction in Funding Costs for its $700 million Revolving Credit Facility
    March 16, 2020
    Churchill Downs Incorporated (CHDN: Nasdaq) (CDI or the Company) announced today the closing of an amendment to its Credit Agreement to extend the maturity and to lower the upper limit of the applied spreads for loans under its $700 million Senior Secured Revolving Credit Facility (“Revolving Credit Facility”).
  • Will America’s Biggest Banks Pass Their Coronavirus Test?
    March 16, 2020
    With the stock market reeling due to the outbreak of the coronavirus pandemic, the CEOs of the biggest banks in America were brought to Washington last week to meet with President Trump. Then, on Sunday evening, the Federal Reserve opened up a box of emergency tools not seen since the crisis-era to help the financial system deal with the economic fallout of the pandemic.
  • Simon Property Group Announces Amended and Extended $6.0 Billion Revolving Credit Facility and Term Loan
    March 16, 2020
    For this Facility, JPMorgan Chase Bank and BofA Securities were the Joint Lead Arrangers and Joint Bookrunners; BNP Paribas, Citibank, Mizuho Bank, PNC, Societe Generale, Sumitomo Mitsui Banking Corporation, U.S. Bank and Wells Fargo were Joint Lead Arrangers and Co-Syndication Agents; Bank of America was Syndication Agent; Bank of Nova Scotia, Barclays, Deutsche Bank, Goldman Sachs, The Royal Bank of Canada, TD Bank and Truist Bank were Co-Documentation Agents; and Compass Bank and Banco Santander were Senior Managing Agents. In addition to the above financial institutions, there were four Managing Agents and Co-Lenders in the facility.
  • Naked Brand Group Limited Announces Milestone US$10.5 Million Amended Credit Facility with Bank of New Zealand
    March 16, 2020
    Naked Brand Group Limited (Nasdaq:NAKD) ("Naked" or the "Company"), a global leader in intimate apparel and swimwear, has entered into a new, amended two-year credit facility agreement with its existing primary lender, The Bank of New Zealand ("BNZ"). The terms of the new, amended agreement call for rolling the Company's existing loan with BNZ into a new US$10.5 million senior secured credit facility.
  • BRP Group, Inc. Upsizes Senior Revolving Credit Facility to $300 Million
    March 16, 2020
    BRP Group, Inc. (“BRP Group” or the “Company”) (NASDAQ: BRP), a rapidly growing independent insurance distribution firm delivering tailored insurance solutions, today announced that its subsidiary Baldwin Risk Partners, LLC (“BRP LLC”) has amended its senior revolving credit facility, effective immediately, to increase the committed line under the credit facility to $300 million, up $75 million from its previous amount of $225 million.
  • MidFirst Business Credit Announces The Hiring of Jonathan Schuster
    March 16, 2020
    MidFirst Business Credit (MFBC) is pleased to announce that Jonathan Schuster has joined its team as a business development officer in Los Angeles. In his new role, Schuster will be responsible for originating, structuring, and funding asset-based financing solutions with commitment amounts up to $30 million for middle-market businesses in the California and West Coast markets.
  • Wells Fargo Names Ellen Patterson General Counsel
    March 16, 2020
    Wells Fargo & Company (NYSE: WFC) today announced that Ellen Patterson will join the company as its senior executive vice president and general counsel, effective March 23, 2020. Reporting to CEO Charlie Scharf, Patterson will be responsible for all legal affairs at the company and will serve on the company’s Operating Committee.
  • Moody's Comments on the Impact of the Fed Rate Cut on US Securitizations
    March 16, 2020
    "For collateralized loan obligations, although lower short-term rates will decrease excess spread, a credit negative, lower rates will also cut leveraged loan borrowers’ payment obligations and revive dormant Libor floor benefits in CLO weighted average spread, both credit positives."
  • Tony Salas Joins TAB Bank’s Business Development Team
    March 16, 2020
    TAB Bank is pleased to announce the addition of Tony Salas (713-898-7933, tony.salas@tabbank.com) to their business development team as Vice President and Business Development Officer. Tony will be based in Houston and will be responsible for sourcing new business opportunities by providing asset-based and factoring working capital facilities to commercial entities in the Southwestern United States with annual revenues of $2 million to $150 million.
  • Aviation Capital Group Announces the Closing of a $650 Million Secured Funding Facility
    March 16, 2020
    Aviation Capital Group LLC (ACG), a leading aircraft asset manager, announced today the closing of a $650 million secured funding facility in support of its growing Aircraft Financing Solutions (AFS) business. The facility was structured by Crédit Agricole and includes an accordion option which can be exercised to provide up to $1 billion in total commitments. The initial $650 million commitment was provided by a syndicate of the company’s relationship banks including Crédit Agricole, Société Générale, BNP Paribas, Commerzbank, Caixa Bank, and Crédit Industriel et Commercial Bank.
  • Fed Cuts Rates Close to Zero Response to Covid-19 Crisis
    March 16, 2020
    The target range for the federal funds rate was slashed to nearly zero and the Federal Reserve vowed to purchase $700 billion total in Treasury and mortgage-backed securities.
  • A&G Realty Partners Begins Marketing of 137 Modell's Store Leases
    March 16, 2020
    A&G Real Estate Partners (A&G) has begun marketing 137 Modell's Sporting Goods store leases in nine Northeastern and Mid-Atlantic states and the District of Columbia in connection with the 111-year-old retailer's voluntary Chapter 11 bankruptcy filing and liquidation.
  • BigLaw Poised To Weather Financial Impact Of COVID-19
    March 16, 2020
    In addition to large law firms having more cash on hand, which often means freed-up lines of credit, firms also saw a strong financial close to 2019, with increases in inventory and demand, according to data provided by Citi Private Bank’s law firm group. Inventory consists of accounts receivable and unbilled time, which can be collected and converted to cash.
  • A Message to the Secured Finance Community
    March 16, 2020
    It’s been quite a week with developments unfolding at an accelerated pace and giving rise to much thought about the way forward. Rightly so, we are all taking steps to protect our loved ones, our colleagues, our clients, our businesses and our economies. The Secured Finance Network is a mission- driven, global trade association committed to putting capital to work.
  • Greystone Arranges $50 Million Construction Loan for Adam America’s 299-Unit Multifamily Development in New Haven, CT
    March 12, 2020
    Greystone, a leading commercial real estate lending, investment, and advisory firm, today announced that it has arranged a $50 million leasehold construction facility for Adam America Real Estate (“AARE”). The construction loan was provided by BMO Harris Bank (“BMO”), a Chicago-based banking subsidiary of BMO Financial Group, to finance the development of a six-story, mixed-use multifamily building with 299 units, 206 ancillary parking spaces, and approximately 6,100 square feet of ground floor retail space located at 44 Olive Street in New Haven, CT.
  • United Airlines Raises $2 Billion in Term Loan
    March 12, 2020
    United Airlines said on Thursday it had raised $2 billion in a term loan facility to pay certain transaction fees and expenses and for general corporate purposes.
  • Hilton Draws Down $1.75 Billion Credit Line to Ease Virus Hit
    March 12, 2020
    The hotel company has drawn down a $1.75 billion loan to “to preserve financial flexibility in light of current uncertainty in the global markets resulting from the COVID-19 outbreak,” according to a filing late Wednesday that confirmed an earlier report from Bloomberg News. The current interest rate on the credit facility is 2.18%.
  • Republic Provides a $4.5 Million ABL Facility in Partnership with Equity Sponsor
    March 12, 2020
    Republic Business Credit partners with leading West Coast Private Equity group to aid in the leveraged buyout of a distressed food manufacturer with high growth potential.
  • Factbox: U.S. Companies Add Cash, Credit Lines as Coronavirus Leaves Markets Rattled
    March 12, 2020
    U.S. companies rushed to bulk up their cash reserves amid market turmoil fueled by the global coronavirus outbreak and a plunge in oil prices.
  • QuickFi by Innovation Finance USA Wins 2020 FinTech Breakthrough Award
    March 12, 2020
    FinTech Breakthrough, an independent market intelligence organization that recognizes the top companies, technologies and products in the global FinTech market, today announced that QuickFi®, a new mobile business lending platform from Innovation Finance USA LLC, has been selected as the winner of the “Business Lending Innovation Award” in the 2020 FinTech Breakthrough Awards program.
  • Erika Perez Joins First Business Growth Funding
    March 12, 2020
    First Business Growth Funding, the accounts receivable financing arm of First Business Financial Services, Inc., announced the addition of Erika Perez as senior account manager. Perez has over 17 years of experience in factoring and banking. She holds a bachelor’s degree in Business Administration from Lewis University.
  • SFNet's Spring Events Update
    March 12, 2020
    While the health and safety of our community remains our number one priority, the ability to communicate mission critical information and stay connected during this time of disruption is also paramount. After careful consideration, Secured Finance Network (SFNet) has made the decision to postpone or restructure all in-person events through June, 2020 in response to the Coronavirus pandemic.
  • People's United Bank Provides $61 Million Credit Facility for Brightview Senior Living
    March 11, 2020
    People's United Bank, N.A., a subsidiary of People's United Financial, Inc. (NASDAQ: PBCT), announced its Healthcare Finance Division provided a $61 million Credit Facility to Brightview Senior Living ("Brightview"), a privately held real estate development and property management company specializing in multifamily and senior living communities.
  • Foresight Energy LP Enters Into Restructuring Support Agreement With Members of Ad Hoc Lender Groups and Files Chapter 11 to Access $100 Million in New Financing
    March 11, 2020
    Paul, Weiss, Rifkind, Wharton & Garrison LLP is acting as legal counsel to Foresight Energy; Jefferies Group is acting as investment banker; and FTI Consulting, Inc. is acting as financial advisor. Akin Gump Strauss Hauer & Feld LLP is acting as legal counsel and Lazard Frères & Co. LLC is acting as investment banker to the Ad Hoc Lender Group representing lenders under the first lien credit agreement.
  • Boeing Plans Full Drawdown of $13.825 Billion Loan
    March 11, 2020
    Boeing Co. is planning to draw down the full amount of a $13.8 billion loan as early as Friday as the planemaker grapples with worldwide travel disruptions from the coronavirus, people familiar with the matter said. Representatives for Citigroup Inc., which led the loan, and Boeing declined to comment.
  • Air and Cruise Lines Shore up Liquidity as Coronavirus Hits Travel Industry
    March 11, 2020
    Travel and leisure companies have tapped their relationship banks for new loans to bolster liquidity and shore up investor confidence as the global spread of coronavirus heightens fears over passenger travel and canceled reservations pile up. Cruise ship operators Norwegian Cruise Line and Royal Caribbean, along with air carrier United Airlines lined up approximately US$3.23bn in new money collectively on Tuesday, one day after the virus epidemic caused a sell-off across global equity market indices with the Dow Jones Industrial Average dropping 7.8%.
  • Jefferson Capital Acquires Canaccede Financial Group
    March 11, 2020
    Jefferson Capital Systems, LLC (Jefferson Capital), a leading purchaser and servicer of consumer charged-off and bankruptcy receivables in the United States and United Kingdom, announced today that it has completed the strategic acquisition of Canaccede Financial Group (Canaccede), the largest buyer of charged-off consumer receivables and insolvencies in Canada. J.C. Flowers & Co. (“J.C. Flowers”), a leading private investment firm specializing in the financial services industry, is the principal shareholder of Jefferson Capital.
  • SG Credit Partners Provides $3MM ARR Borrowing Base Growth Capital Facility
    March 11, 2020
    SG was impressed with the Company’s software platform, organic growth, strong pipeline of contracted revenue, and ability to reach positive cash flow with no equity financing and minimal debt financing. SG provided a senior secured, $3MM growth capital loan structured around an ARR borrowing base and provided tailored amortization around the Company’s cyclical cash flow. ​
  • Bank of America Names Terry Cline Knoxville Market President
    March 11, 2020
    Bank of America has named Terry Cline as market president for Knoxville. Cline succeeds Market President John Hall, who will continue to serve on the Knoxville leadership team. As market president, Cline will be responsible for connecting the banking and investment resources offered through the company’s eight lines of business to companies, families and individuals in Knoxville.
  • Varagon Capital Partners Supports Palladium Equity Partners' Acquisition of ALC Schools
    March 11, 2020
    Varagon Capital Partners (Varagon) today announced it is serving as Administrative Agent, Joint Lead Arranger and Joint Bookrunner on a senior secured credit facility to support the acquisition of ALC Schools, LLC by affiliates of Palladium Equity Partners, L.L.C. (Palladium). ALC offers alternative student transportation solutions for a variety of student populations, including special education, homeless, foster and other in-need students.
  • Sterling National Bank Provides $9,000,000 of Working Capital to NorCal Lumber Company, Inc.
    March 11, 2020
    The credit facilities will be used to provide working capital to support the Company’s future projected growth. Founded in 1987, and headquartered in Marysville, CA, NorCal cuts, assembles and distributes dimensional lumber, engineered wood and related framing materials.
  • Huntington Business Credit Closes Credit Facility with Custom Bilt Holdings, LLC
    March 11, 2020
    Huntington Business Credit announced it closed a new $12,000,000 credit facility with Custom Bilt Holdings, LLC on February 14, 2020. Proceeds of the facility were used to refinance existing debt and provide ongoing working capital growth financing.
  • New Hire Expands FocalPoint's Healthcare Practice
    March 11, 2020
    FocalPoint Partners, a leading middle-market investment bank, is pleased to announce the addition of senior healthcare investment banking professional Hector M. Torres as managing director in its Chicago office. Over nearly 15 years, Hector has provided investment banking, consulting, and financial advisory services to healthcare organizations nationwide, having advised on over 25 M&A transactions with a cumulative value in excess of $2.8 billion in the past six years.
  • Oxford Finance Closes $104.3 Million Credit Facility with Epic Healthcare Staffing
    March 11, 2020
    Oxford Finance LLC (“Oxford”), a specialty finance firm that provides senior debt to healthcare services and life sciences and companies worldwide, today announced the closing of a $104.3 million senior secured credit facility to Epic Healthcare Staffing (“Epic” or “the Company”), a portfolio company of Webster Equity Partners. The proceeds will be used to fund the acquisition of Orbis Data Solutions, refinance existing debt, fund future acquisitions, and for general working capital purposes.
  • Revlon Announces Transformative 2020 Business Optimization Program and Refinancing Agreement
    March 10, 2020
    Announces New 2020 Business Optimization and Restructuring that Will Considerably Improve Profitability and Cash Flow – Expected to generate $200-$230 Million in Annualized Cost Reductions. Refinancing Commitment will Significantly Improve Capital Structure by Refinancing Debt including 2021 Senior Notes, Extending Maturities and Delivering New Funding for the Business.
  • Stephen J. Healey Joins Utica Equipment Finance as Managing Director
    March 10, 2020
    Utica Equipment Finance, a leading provider of equipment-based term loans and leases to companies throughout North America, today announced that Stephen J. Healey has joined the firm as a Managing Director. Based in Boston, he will be responsible for sourcing and developing client and referral relationships throughout the United States.
  • Valley Names Veteran Banker its Senior VP for Pinellas Commercial Team
    March 10, 2020
    Armstrong previously was director of acquisitions for Sembler Investments and before that was market director and senior VP at The Bank of Tampa. He will lead commercial banking and lending for Valley Bank throughout the county, according to a release from the bank. He'll be in charge of six relationship managers that cover the bank's county presence, which includes seven branches.
  • AP Equipment Financing Announces $110 Million Line of Credit with Wells Fargo
    March 10, 2020
    “We are very pleased to be working with Wells Fargo. This is an important step in continuing to expand the activities of AP Equipment Financing. We have grown from a small finance company to an entity that will fund over 3,000 small ticket transactions worth over $200 million in 2020. We are excited about the treasury management capabilities Wells Fargo has to offer as well as working with a large, specialized staff in Dallas, Texas who are highly responsive to our ever-changing funding needs,” stated Chris Enbom, CEO of AP.
  • United Community Banks, Inc. and Three Shores Bancorporation, Inc., the Parent of Seaside National Bank & Trust, Announce Merger Agreement
    March 10, 2020
    United Community Banks, Inc. and Three Shores Bancorporation, Inc., the Parent of Seaside National Bank & Trust, Announce Merger Agreement United Community Banks, Inc. (“UCBI”) acquires a strong commercial lender focused on relationship banking with a “branch lite” approach in key Florida metro areas. Seaside National Bank & Trust founded and led by an experienced and highly capable President and Chief Executive Officer, who will be joining the combined organization. Strategically compelling transaction, combining UCBI’s significant liquidity, low-cost funding and excess capital with Seaside’s extensive client network and growth potential.
  • Kevin M. Jacobs Joins A&M from IRS to Bolster Firm's National Tax Office Practice
    March 10, 2020
    Mr. Jacobs joined A&M Taxand from the IRS, where he served as a Senior Technician Reviewer with the IRS Office of Associate Chief Counsel (Corporate) for more than six years. In this role, Mr. Jacobs advised the office and the public on a range of complex tax matters, including share-holder issues in a corporate reorganization, liquidations and redemptions, transfers to corporations, bankruptcies, spin-offs and consolidated returns.
  • OnDeck Appoints Mark Torossian as Senior Vice President, Finance
    March 10, 2020
    OnDeck® (NYSE: ONDK), the leader in online lending to small business, today announced the appointment of Mark Torossian as Senior Vice President, Finance, a newly created role that will oversee the organization's Accounting and Financial Planning & Analysis (FP&A) functions.
  • Bluestem Brands, Inc. to Pursue Financial Restructuring via Chapter 11 Process, Enters into Stalking Horse Purchase Agreement for Going Concern Sale
    March 9, 2020
    Horse Purchase Agreement for Going Concern Sale. Receives New $125 Million Debtor-in-Possession Loan Commitment to Support Continued Operations. Enters into “Stalking Horse” Purchase Agreement; Concurrently Company Will Commence Court-Supervised Sale Process. Business to Continue Delivering Outstanding Service to Millions of Customers Without Interruption
  • Equitable Bank Partners With BridgePoint Financial Services on Secured Credit Facility
    March 9, 2020
    Equitable Bank, Canada's Challenger Bank™, is pleased to announce it acted as the sole lead arranger of a $60 million senior secured credit facility to support the recapitalization and growth of BridgePoint Financial Services Inc. (BridgePoint), Canada's leading provider of specialized loans for the legal services market with a focus on loans to individuals involved in personal injury claims and loans/credit facilities to law firms.
  • Lite Access Closes Expanded Credit Facility with Royal Bank of Canada
    March 9, 2020
    LITE ACCESS TECHNOLOGIES INC. (the "Company") (TSX VENTURE: LTE) (OTC PINK: LTCCF) is pleased to announce it has closed an expanded credit facility with the Royal Bank of Canada (RBC), in cooperation with Export Development Canada (EDC).
  • Funding Metrics Announces New $100 Million Revolving Credit Facility
    March 9, 2020
    Funding Metrics, under the brands Lendini and Quickfix Capital is a merchant cash advance company that has developed a robust online platform with advances being approved with in 3 hours. Funding Metrics, LLC (the “Company”) announced today the closing of a new $100 million revolving credit facility with a multi-billion dollar institutional credit fund. The Company will use the funds to expand and accelerate the growth of its small business funding platform. Brean Capital served as exclusive financial advisor to the Company on the transaction.
  • Briar Capital Real Estate Fund Provides Real Estate Term Loan to Airplane Parts and Equipment
    March 9, 2020
    The loan is secured by the company's two owner-occupied office/warehouse facilities. The company buys stock airplane part packages in bulk and sells off the individual parts or smaller packages to support the repair and maintenance of airline fleets.
  • Winter Harbor Expands National Presence with Addition of Rob Hubbard
    March 9, 2020
    Winter Harbor LLC, a national restructuring and turnaround firm, announced Rob Hubbard has joined their team as a managing director. Rob boasts more than 20 years of financial advisory, restructuring, and turnaround expertise to large and middle-market companies and their stakeholders. His experience has focused on assisting companies with stabilizing operations and determining strategic alternatives to improve business performance.
  • Crestmark Provides More Than $32.3 Million in Commercial Financing to 61 Businesses in the Second Half of February
    March 9, 2020
    Crestmark secured a total of $10,450,000 in ABL financial solutions for five new clients; Crestmark Equipment Finance provided $15,950,106 in nine new lease transactions; Crestmark Vendor Finance provided $4,247,630 in 46 new lease transactions; and the Government Guaranteed Lending Division provided $1,680,000 in financing for one new client in the second half of February.
  • Ares Management Names Adam Heltzer as Head of ESG
    March 9, 2020
    Ares Management Corporation (NYSE: ARES) (“Ares”) announced today that Adam Heltzer has joined as Managing Director and Head of Environmental, Social and Governance (“ESG”), effective April 1, 2020. Mr. Heltzer will be based in New York and will report to Michael Arougheti, Chief Executive Officer and President of Ares.
  • Encina Business Credit, LLC Appoints Tracy Salyers and John Whetstone as Co-Heads of Portfolio Management
    March 9, 2020
    Ms. Salyers brings over 25 years of experience in all facets of secured lending, including field exam, underwriting, special assets management, and portfolio management. Mr. Whetstone, who is also based in Chicago, is a secured lending veteran, having over 25 years of experience across industries including consumer, factoring and asset-based lending.
  • MidFirst Business Credit Announces New Lending Relationship with Principal Manufacturing Corporation
    March 9, 2020
    MidFirst Business Credit (“MFBC”) announced it has provided $16 million in working capital and term facilities to Principal Manufacturing Corporation (“PMC”). Headquartered in Broadview, Illinois, PMC is a custom manufacturer of fine-blanking and precision stamping parts for OEMs, and Tier 1 and 2 automotive suppliers in the U.S., Mexico, Europe and Asia.
  • 36th Street Increases Credit Facility to $170MM with Wells Fargo Participation
    March 9, 2020
    36th Street Capital announced today that it increased its expandable senior secured revolving credit facility to $170 million in addition to amending terms to a new five-year facility. San Francisco, CA-based Wells Fargo Bank has joined the syndicate with an additional $35 million participation. The credit facility includes four lenders and is led by Capital One Bank, N.A. as agent.
  • North Mill Capital Funds a $5,000,000 Revolving Line of Credit for 203 Trading LLC
    March 9, 2020
    203 Trading LLC is a distributor of refurbished computers and electronics headquartered in Norwalk, Connecticut. The funds will be used to repay the previous lender and provide additional working capital to support the company's significant growth.
  • Bridge Bank Extends $10MM Senior Loan to Aura
    March 9, 2020
    This new loan comes during a period of rapid growth for Aura in which the company has provided approximately $750MM in loans to nearly 344,000 borrowers at 1,050 partner locations since 2014. Aura uses technology that goes beyond credit scores to determine borrowers' ability to repay and enables local businesses to administer credit applications.
  • ABLE Equipment Rental, Inc. Secures a $150 Million Asset Based Loan (ABL) with M&T Bank
    March 9, 2020
    ABLE Equipment Rental, Inc. of NY (ABLE) a supplier of Construction Equipment Rentals, Sales, Service and Parts, announced the closing of a $150 million Asset Based Loan with M&T Bank as Lead Arranger and Administrative Agent. The facility is comprised of a $100 million revolving line of credit as well as a $15 million term loan facility.
  • GreatAmerica Financial Services Submits Industrial Bank Application to FDIC
    March 9, 2020
    GreatAmerica Financial Services Corporation announced today that it has submitted an application with the Federal Deposit Insurance Corporation (FDIC) and the Utah Department of Financial Institutions (UDFI) to establish GreatAmerica Bank, an industrial bank to be located in the Salt Lake City, Utah metropolitan area. The proposed GreatAmerica Bank will be a wholly-owned subsidiary of GreatAmerica, helping it expand its ability to help its customers be more successful.
  • Bear Creek Mining Engages BNP Paribas and Societe Generale to Arrange a US$ 400 Million Senior Secured Credit Facility
    March 9, 2020
    Bear Creek Mining Corporation (TSXV: BCM) (BVL: BCM) ("Bear Creek" or the "Company") announces that it has engaged BNP Paribas and Société Générale as Joint Lead Arrangers (together, the "JLAs") to arrange a US$ 400 million senior secured credit facility (the "Facility"). The Facility, if concluded, will be used to develop the Company's wholly owned and fully permitted, world-class Corani silver-lead-zinc project located in the Puno region of Peru.
  • Suburban Propane Partners, L.P. Announces Refinancing of Revolving Credit Facility
    March 9, 2020
    The bank syndication supporting the new facility is comprised of a diverse group of twelve banks led by Bank of America Merrill Lynch, Wells Fargo Securities, LLC, BNP Paribas, Capital One, Citizens Bank, HSBC Bank USA, JP Morgan Chase Bank, N.A., TD Bank, N.A., and Truist Bank, as Joint Lead Arrangers, Joint Book Runners and Co-Syndication Agents, Citibank, N.A as a Joint Lead Arranger and Documentation Agent, CoBank, ACB and People's United Bank, National Association. Bank of America, N.A. is serving as Administrative Agent.
  • Peter Austin Joins Milberg Factors as Senior Vice President
    March 9, 2020
    In this role, Austin will manage portfolio accounts, enhancing client relationships and developing new ones. Additionally, he will take an active role in business development, working with colleagues in the Los Angeles, CA and Winston-Salem, NC offices.
  • Old Hill Partners Provided a $6 Million Financing Facility to a Company Focused on Charged-Off Consumer Debt
    March 5, 2020
    Old Hill has provided a $6 million revolving facility to a company focused on lending to small and medium-sized buyers of portfolios of charged-off consumer debt. The underlying loans are backed by portfolios of charged-off credit card receivables, installment loans, auto deficiencies, student loans, and other, mostly consumer-based, lending products.
  • iClick Interactive Asia Group Enters Into a Credit Facility of More than $30 Million With HSBC Across Working Capital and General Corporate Support
    March 5, 2020
    The Facility, arranged by HSBC's GBA+ Technology Fund, will further strengthen iClick's financial position and the execution of strategic initiatives in China's Guangdong-Hong Kong-Macau Bay Area ("GBA"). The proceeds from the Facility will be used to further propel iClick's digital marketing business, develop iClick's Enterprise Solutions, and support general corporate purposes.
  • Barclays, Goldman Among Banks Sweating Over European M&A Debt
    March 4, 2020
    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 Announces Completion of Sale-Leaseback Transaction and Amendment to Term Loan
    March 4, 2020
    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. Secures $7.5 Million Line of Credit with J.P. Morgan Chase Bank
    March 4, 2020
    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.
  • Vertiv Announces the Completion of Debt Refinancing Activities
    March 4, 2020
    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 Announces Promotions
    March 4, 2020
    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.
  • Palladium Equity Partners, L.L.C. Acquires ALC Schools, LLC and Red Rock Technology, LLC
    March 4, 2020
    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.
  • Skype Co-founder's Oriente Secures $20 Million in Debt Funding Facility
    March 4, 2020
    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.
  • Alvarez & Marsal Appoints New Disputes and Investigations Practice Leaders for North America and Europe
    March 4, 2020
    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.
  • Nautic Partners Announces Acquisition of Harrington Industrial Plastics in Partnership With Management
    March 4, 2020
    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 Welcomes Finance Partner Vanessa G. Tanaka in Chicago
    March 4, 2020
    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.
  • Coronavirus Disaster: Why Firms Should Lead the Recovery
    March 4, 2020
    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 Announces Closed Transactions
    March 4, 2020
    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.
  • Stenn Joins International Trade and Forfaiting Association and Trade Finance Distribution Initiative
    March 4, 2020
    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.
  • Huntsworth Surges on $511 Million Buyout Deal From U.S. Private Equity Firm
    March 3, 2020
    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.
  • CraftWorks Holdings Reaches Agreement with Senior Lender to Substantially Reduce Debt, Strengthen Liquidity, and Better Position Popular Brewery and Casual Dining Brands for Long-Term Growth
    March 3, 2020
    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.
  • National Museum of American Jewish History Files for Bankruptcy
    March 3, 2020
    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 Provides Falcon Critical Care Transport With $9 Million in Credit Facilities
    March 3, 2020
    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.
  • Sovcombank Took Part in a Syndicated Credit Facility for Kaz Minerals
    March 3, 2020
    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 Announces Investment in Cassavant Holdings, LLC
    March 3, 2020
    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.
  • SFNet's COVID-19 Update
    March 3, 2020
    To address concerns regarding Coronavirus COVID-19 and to help safeguard the health and well-being of our members and the greater secured finance community participating in events over the coming months, the Secured Finance Network (SFNet) is instituting the following policies:
  • Coronavirus May Spur Capital Flight from U.S. and Weaken Dollar, Says MUFG Americas Head of Trading
    March 2, 2020
    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.
  • Hilco Redevelopment Partners Hires Eddy Santamarina as Vice President of Development for the Southeast Region
    March 2, 2020
    Mr. Santamarina joins Hilco Redevelopment Partners (www.HilcoRedev.com) as the Vice President of Development for the Southeast Region. In this role, he will be responsible for the overall development process in the southeast region for new and existing construction projects which includes land acquisition, due diligence, initial concept feasibility, land entitlement, governmental approvals, selecting project teams, design oversight, bidding, project budgets, construction oversight, project schedules, and leasing.
  • Proskauer Expands Litigation Practice into the U.K. with the Addition of Partner Dorothy Murray in London
    March 2, 2020
    Continuing its strategic growth in London, international law firm Proskauer announced today the arrival of Litigation Partner Dorothy Murray.
  • Trichome Financial Announces Closing of $2.25 Million Senior Secured Term Loan to Hello Cannabis
    March 2, 2020
    Trichome Financial Corp. is pleased to announce that it has entered into a $2.25 million term loan with 2673943 Ontario Inc., d/b/a Hello Cannabis. Upon closing, Trichome Financial advanced the first $1.0 million tranche under the Term Loan, which will be used to fund capital expenditures in connection with the retrofit of Hello SSM, as well as inventory purchases.
  • Obsidian Energy Announces an Extension and Updates to its Syndicated Credit Facility
    March 2, 2020
    Obsidian Energy announces the extension of the Company's syndicated credit facility with the underlying borrowing base and amount available under the syndicated credit facility set at $550 million and $450 million , respectively, subject to specific items being amended as discussed below. The amount available under the syndicated credit facility has been reduced by $10 million to the aforementioned $450 million level. Additional terms in the amending agreement are as follows:
  • North Mill Capital Funds $8,000,000 Asset-Based Credit Facility to Coastal Wire Company
    March 2, 2020
    North Mill Capital is pleased to announce the funding of an $8,000,000 asset-based credit facility to Coastal Wire Company based in Georgetown, SC. The funds were used to pay off the previous lender and provide additional working capital for the company.
  • Oxford Finance Welcomes Experienced Director to its Healthcare Real Estate Group
    March 2, 2020
    Oxford Finance LLC ("Oxford"), a specialty finance firm that provides senior debt to healthcare services and life sciences companies worldwide, is pleased to announce Richard Russakoff has joined its Healthcare Real Estate lending team.
  • CNH Industrial N.V. Announces the Extension for one Additional Year of its Euro 4 Billion Committed Revolving Crredit Facility to March 2025
    March 2, 2020
    CNH Industrial N.V. (NYSE: CNHI /MI: CNHI) announces that it has extended its euro 4 billion committed revolving credit facility for one additional year with all lenders, by exercising the first one-year extension option.
  • Rosenthal Provides $750,000 Purchase Order Finance Facility for Manufacturer and Importer of OEM Industrial Components
    March 2, 2020
    Rosenthal & Rosenthal, Inc., the leading independent factoring, asset-based lending and purchase order financing firm in the United States, today announced the completion of a recent purchase order finance facility. The deal will support the production financing requirements of an Illinois-based manufacturer and importer of mechanical components for large customers in the OEM industrial sector.
  • Kew Media Group Collapses & Directors Resign After Lenders Call In Debts
    March 2, 2020
    In a statement issued to Kew Media Group’s investors on Friday, the company said it has been placed in receivership under the orders of the Ontario Superior Court. FTI Consulting Canada will manage Kew Media Group’s affairs, including selling off its assets. The collapse came just hours after Truist Bank demanded the “repayment of all amounts owing under the senior credit facilities” after Kew Media Group defaulted on its credit facility last year because it filed “inaccurate” financial information
  • MidCap Business Credit Completes a $5 Million Revolving Credit Facility for Appco Pharma, LLC
    March 2, 2020
    MidCap Business Credit completed a $5 million revolving credit facility for Appco Pharma, LLC. The facility was used to provide additional liquidity and support the company’s growth plans and working capital needs.
  • 36th Street Closes $8 Million Financing for Global Rideshare Company
    March 2, 2020
    36th Street Capital announced a recently funded $8 million equipment financing for a leading technology company that provides ridesharing, meal preparation and delivery services to end-users worldwide.
  • North Mill Capital Funds $8,000,000 Asset-Based Credit Facility to Coastal Wire Company
    March 2, 2020
    The funds were used to pay off the previous lender and provide additional working capital for the company. Coastal Wire Company was founded in 1978 and manufactures fully annealed, high-strength baling, tying and specialty wire products for the recycling and galvanizing industries.
  • Austin Financial Services Provides $2.750M ABL Facility to a Midwest-based Freight Transportation Company
    March 2, 2020
    Austin Financial Services, Inc. (AFS) is pleased to announce the closing of a $2.750M ABL facility to a Midwest based freight transportation company that provides freight management and brokerage services of fresh produce and refrigerated goods for customers nationwide. Proceeds from AFS’ revolver were used to pay off the Company’s existing bank line and provide new funds for working capital and to support business growth.
  • Celtic Capital Corporation Provides $1.05 Million Equipment Loan for Idaho-based Company
    March 2, 2020
    Celtic Capital Corporation today announced its most recent new client relationship – an Idaho-based company that designs and manufactures parts and pieces for food processing plants as well as construction of primarily steel buildings.
  • JPMorgan Joins Rush to Curb Global Travel as Virus Spreads
    March 2, 2020
    JPMorgan Chase & Co. curbed non-essential travel globally, joining a string of other corporate giants in restricting business trips as the spreading coronavirus risks becoming a pandemic. Because of the broadening spread of the virus, it’s now “restricting all international travel to essential travel only,” the New York-based bank said in a memo distributed to staff, confirmed by spokespeople. The move marks an escalation in its travel precautions, which had previously been limited to regions where the spread of the virus has been heaviest, such as parts of Asia and northern Italy.
  • Trutankless Announces Conversion and Reduction of Credit Facility to Term Loan
    March 2, 2020
    Company enters into an amended and restated loan agreement with noteholder to repay and convert the existing $1,212,006 million balance under facility. Trutankless, Inc. (OTCQB: TKLS) manufactures an award-winning line of WiFi enabled electric tankless water heaters which are an attractive option for American households to upgrade from traditional inefficient hot water tanks. The Company has reported growing demand and sales over the last several period.
  • Adevinta ASA (ADE) - Adevinta Refinances its Bank Facility to €600 Million Multicurrency Term Loan & Revolving Credit Facilities
    March 2, 2020
    DNB Markets, a part of DNB Bank ASA, and Danske Bank A/S acted as Co-ordinators, Mandated Lead Arrangers and Bookrunners on the transaction. In addition, BNP Paribas SA Norway Branch and Swedbank AB (publ) joined as Mandated Lead Arrangers and Bookrunners, whilst J.P. Morgan Securities plc and ING Bank N.V. participated in the transaction as Lead Arrangers.
  • BMO Financial Group Appoints Cam Fowler as Chief Strategy & Operations Officer and Erminia (Ernie) Johannson as Group Head, North American Personal and Business Banking
    March 2, 2020
    Cam Fowler will take on a new role as Chief Strategy & Operations Officer. He currently serves as Group Head, North American Personal and Business Banking. Erminia (Ernie) Johannson is appointed Group Head, North American Personal and Business Banking.
  • Michael Best Combines with Established Entrepreneurial Law Firm RWR Legal
    March 2, 2020
    Michael Best announced today the addition of RWR Legal into its Austin office operations, effective immediately. The combination, which will greatly benefit both Michael Best and RWR Legal clients, will add three senior corporate and securities attorneys. RWR Legal connects high-growth clients with the talent, mentoring, and resources required for success.
  • Christopher & Banks Corporation Announces New Credit Facility Package That Provides Additional Liquidity of $6-$8 Million to Support Growth Objectives
    March 2, 2020
    Christopher & Banks Corporation (OTC: CBKC), a specialty women’s apparel retailer, today announced the amendment of its Asset-Based Revolving Credit Facility and that it has entered into a Term Loan Credit Facility with an LLC of Angelo Gordon. The new credit facility package will provide incremental liquidity of $6-$8 million to support the company’s growth objectives.
  • Robert Harris Promoted to Senior Vice President, Director of Diversity and Inclusion for BancorpSouth Bank
    March 2, 2020
    BancorpSouth Bank (NYSE: BXS) has promoted Robert Harris to senior vice president, director of diversity and inclusion, responsible for developing strategies and initiatives to enhance the company's organizational culture. In addition, Harris has also been promoted to director of community lending.
  • Goldman Sachs BDC, Inc. Favorably Amends Its Revolving Credit Facility
    March 2, 2020
    Goldman Sachs BDC, Inc. (the “Company”) (NYSE: GSBD) announced today that it has favorably amended its senior secured revolving credit facility agreement with Truist Bank (formerly known as SunTrust Bank), as administrative agent (as amended, supplemented or otherwise modified and in effect from time to time, the “Truist Revolving Credit Facility”).
  • Cybersecurity Readiness in a Pandemic Era
    March 2, 2020
    As the coronavirus (COVID-19) continues to spread around the globe, and with the first suspected instance of community spread in the U.S confirmed by the CDC, time is quickly running out for individuals and businesses to prepare for the inevitable disruptions of an outbreak. Business Continuity and Disaster Recovery planning are two critical components of a good cybersecurity strategy. These plans ensure that a business has the necessary systems and procedures in place to enable ongoing operations during a crisis, and allow them to quickly and efficiently resume normal operations once the crisis is over.
  • Balance Point Capital Announces Investment Team Promotions
    February 27, 2020
    Balance Point Capital ("Balance Point"), a leading provider of capital to lower middle market companies, is pleased to announce the promotions of Nathan Elliott to Managing Director, Adam Sauerteig to Senior Vice President, Grant Groher to Vice President and Dan Freshman to Senior Associate.
  • Houlihan Lokey Grows Its Oil & Gas Group With Experienced Hire
    February 27, 2020
    Houlihan Lokey (NYSE:HLI), the global investment bank, announced today that Shane Sealy has joined the firm as a Managing Director in the Oil & Gas Group. Mr. Sealy is based in Houston and is responsible for advising upstream companies on mergers and acquisitions, joint ventures, divestitures, restructurings, and capital markets transactions.
  • Monroe Capital Partners with Cimarron Healthcare Capital to Acquire Ascent Behavioral Health
    February 27, 2020
    Health (“Ascent”), in partnership with Cimarron Healthcare Capital and Ascent’s management team. Monroe Capital acted as sole lead arranger and administrative agent of the senior credit facility and co-invested equity alongside Cimarron Healthcare Capital to support the transaction.
  • Francois van Reede Joins Utica Equipment Finance Team
    February 27, 2020
    Utica Equipment Finance, a leading provider of equipment-based term loans and leases to companies throughout North America, today announced that Francois van Reede has joined the firm as a Business Development Officer. Based in Arizona, he will be responsible for sourcing and developing client and referral relationships throughout the United States.
  • Assembled Brands Finances Acquisition of QALO by Holding Company Win Brands Group
    February 27, 2020
    Provides $4 million senior secured credit facility to Win Brands Group for the majority purchase of silicon ring maker, QALO.
  • Alexandra Scoggin Named Vice President of Marketing and Business Development for CBC Business Credit
    February 27, 2020
    California BanCorp (CALB), the holding company for California Bank of Commerce (CBC), today announced that Alexandra Scoggin has joined the CBC Business Credit team as Vice President of Marketing and Business Development. A department within California Bank of Commerce, CBC Business Credit offers asset-based financing to a broad array of businesses. Scoggin will be based in Southern California.
  • Seabury Capital Establishes New Financing Arm to Deliver Advanced Support for Global Aircraft Market
    February 27, 2020
    SAC will be led by SFI’s founding members Stacey Wilson as Managing Director and Stephen Danner and Marty Dugan as Executive Directors – the team that boasts a two-decade-plus formidable track record in pioneering the first financing structures still in place today and financing more than 1,000 aircraft on behalf of airlines, manufacturers, and investors since SFI’s beginnings in the 1990s.
  • Encina Business Credit Provides $15 Million Facility to Manufacturer of Highly Engineered Products
    February 26, 2020
    The credit facility consists of a revolving line of credit based on accounts receivable and inventory and a term loan based on machinery and equipment. The credit facility was used to refinance an existing line of credit and will provide ongoing working capital financing.
  • Viral Impact: How COVID-19 is Affecting M&A and Private Equity
    February 26, 2020
    To get a sense of the ramifications for the middle market, Mergers & Acquisitions examines several factors, including the current impact on China’s economic growth; how the virus was discussed in the earnings calls of U.S. public companies in January and February; and the views of two prominent dealmakers who are based in Hong Kong. As this is an ongoing story, we’ll continue evaluating the economic and business effects.
  • Global Merchant Fund Provides $40,000,000 Client Facility
    February 26, 2020
    Global Merchant Fund (GMF), announced an increase in the credit facility to $40,000,000 for a financial technology company based in western Canada. The increase will consolidate the company‘s existing facilities and provide additional liquidity to continue to grow its business across Canada in a profitable manner.
  • Leland Capital Advisors Provides $250,000 Revolving Work in Progress (WIP) Funding
    February 26, 2020
    Leland Capital Advisors LLC announced it provided a $250000 revolving Work in Progress (WIP) funding for a manufacturing company that specializes in Aeronautical Electronic Components in Georgia.
  • Huntington Business Credit Closes Credit Facilities With Sunbelt Modular, Inc.
    February 26, 2020
    Huntington Business Credit announced it closed new $19,713,000 credit facilities with Sunbelt Modular, Inc. on February 4, 2020. Proceeds of the facility were used to partially fund the acquisition by strategic buyers and provide ongoing working capital growth financing.
  • A.P. Moller - Maersk Links New $5.0bn Revolving Credit Facility to its CO2 Performance
    February 26, 2020
    Banco Santander S.A., London Branch, Bank of America Merrill Lynch International Designated Activity Company, Barclays Bank Plc, BNP Paribas, Citibank N.A. London, Commerzbank Aktiengesellschaft, Crédit Agricole Corporate and Investment Bank, Danske Bank A/S, Deutsche Bank, Handelsbanken, HSBC France, MUFG, Nordea, SEB and Standard Chartered Bank, joined as mandated lead arrangers.
  • Avidbank Adds Strength to its Specialty Finance Division
    February 26, 2020
    Mounir Gad has joined the Bank as Senior Vice President, Market Manager, of the Specialty Finance Division. Kevin Conway also joins the Bank in the Specialty Finance Division as Senior Vice President, Relationship Manager.
  • Monticello Provides $117M in Financing for Skilled Nursing Facility Portfolio in North Carolina, Kentucky
    February 26, 2020
    Monticello has provided $117 million in first lien debt financing for the acquisition of 12 skilled nursing properties and the refinance of one other in North Carolina and Kentucky. The skilled nursing portfolio totals 1,357 beds.
  • What’s Behind Cosi’s 2nd Bankruptcy?
    February 26, 2020
    The Boston-based chain, which owes $30.7 million in secured debt, put itself up for sale two months ago and shuttered 30 units in December. It is also pivoting its focus to its catering program as part of a restructuring effort. In 2016, Cosi filed for bankruptcy. The following year, AB Value Management and Milfam LLC bought the chain. The death of Lloyd Miller III, Milfam’s principal, early in 2018 caused Milfam to “extricate itself from its investment in Cosi,” according to the filing.
  • TAB Bank Provides Transportation Company in Minnesota with a $9 Million Revolving Credit Facility
    February 26, 2020
    TAB Bank is pleased to announce it has provided a $9 million revolving credit facility for a transportation company based in Minnesota. The new facility is extended through a multi-year agreement and will provide for the company’s ongoing working capital needs.
  • White Oak Global Advisors, LLC Makes Key New Hires to Expand Aviation Finance Offerings
    February 25, 2020
    White Oak Global Advisors, LLC (“White Oak”) today announced the addition of three senior members to White Oak Aviation, LLC, the aviation financing affiliate created to expand the firm’s offerings to the aviation market. Bob Genise, Asa Watts, and Greg Byrnes will be based in Bellevue, Washington and Ireland, and will further enhance the firm’s capabilities in the space.
  • RigNet Announces Amendment and Extension of Credit Facility
    February 25, 2020
    RigNet, the leading provider of ultra-secure, intelligent networking solutions, announced today that it has successfully amended its senior secured Credit Facility with its existing bank group led by Bank of America, N.A. as administrative agent
  • Alimera Sciences Meets Revenue Milestone and Accesses Additional $2.5 Million Under Solar Debt Agreement
    February 25, 2020
    Alimera Sciences, Inc. (ALIM) (“Alimera”), a leader in the commercialization and development of prescription ophthalmology treatments for the management of retinal diseases, today announced that it has drawn down the remaining $2.5 million under the $45 million term loan agreement with its current lenders, investment affiliates managed by Solar Capital Partners, LLC.
  • BNP Paribas and JetBlue Partner to Close First Sustainability-Linked RCF for the Airline Industry
    February 25, 2020
    BNP Paribas, a premier global bank, today announced that it has closed a sustainability-linked loan (“SLL”) with JetBlue Airways (“JetBlue” or the “Company”), via an amendment to its existing Senior Secured Revolving Credit Facility (“RCF” or the “Facility”).
  • Sallyport Commercial Finance Offers Flexibility to a Growing Business in Canada
    February 25, 2020
    Sallyport Commercial Finance provides a $600,000 accounts receivable facility to a company that specializes in non-destructive testing services. The family-owned and operated business was referred to Sallyport by a broker who has introduced business in the past. With a turnaround solution in place, the company hopes to generate more revenue and stabilize their working capital.
  • Moritt Hock & Hamroff Welcomes Anthony J. Ficara, Michael Wickersham & Jodi B. Zimmerman
    February 25, 2020
    The law firm of Moritt Hock & Hamroff with offices on Long Island and in New York City has announced that Anthony J. Ficara, Michael Wickersham and Jodi B. Zimmerman have joined the firm, adding a new industry practice, in the Condominium & Co-Op Services sector, within the scope of the firm's Real Estate Practice Group. Mr. Ficara joins the firm as a partner and resides in the firm's New York City office. Mr. Wickersham and Ms. Zimmerman join the firm as associates and reside in the firm's Garden City office.
  • Edgemont Partners Announces Recapitalization of Quigley Eye Specialists by New Harbor Capital
    February 25, 2020
    Edgemont Co-advised Quigley Eye; Transaction represents Edgemont’s fifth office-based physician services transaction in seven months
  • Endologix Announces Debt Restructuring Addressing 2020 Maturities
    February 25, 2020
    The Company and certain funds managed by Deerfield Management Company, L.P. (collectively, “Deerfield”) also agreed to amend their existing facility agreement and credit agreement to extend near-term mandatory amortization payments and provide for certain conversion rights and obligations pertaining to the Company’s debt to Deerfield.
  • Deserve Secures $100M Credit Facility from Credit Suisse
    February 25, 2020
    Deserve, the venture-backed fintech company expanding and powering the real-time credit card economy, announced today a new $100 million credit facility with Credit Suisse AG. Sector Financial Inc., an affiliate of Credit Suisse, provided access to the Credit Suisse debt facility.
  • Crestmark Provides More Than $41.6 Million in Commercial Financing to 77 Businesses in the First Half of February
    February 25, 2020
    Crestmark secured a total of $6,300,000 in ABL financial solutions for nine new clients; Crestmark Equipment Finance provided $24,532,533 in 10 new lease transactions; Crestmark Vendor Finance provided $5,580,236 in 56 new lease transactions; and the Government Guaranteed Lending Division provided $5,224,037 in financing for three new clients in the first half of February.
  • Cosi, Inc. Files for Chapter 11 Bankruptcy Reorganization to Complete its Transformation to a Profit Maximizing Mix of In-store Dining and Catering Which Will Better Align it with Customer Dining Trends
    February 24, 2020
    Cosi expects to emerge from Chapter 11 as a stronger version of itself, with a greater focus on its burgeoning catering business. Cosi has retained a chief restructuring officer, Jason F. Fensterstock, to assist with the development and implementation of its business plan and the associated cost cutting and initiatives which are well underway and include the opening of several new locations in the first half of 2020.
  • Cohn & Dussi LLC Announces the Addition of Robert Hanna as Director of National Sales and Marketing
    February 24, 2020
    “Bob has been influential in the creditors' rights and commercial collection industry. He is well respected by financial companies throughout the country. We are pleased to have him as a valuable member of our firm,” states Lewis Cohn, Managing Partner of Cohn & Dussi.
  • Interfor Announces Long Term Debt Financing
    February 24, 2020
    INTERFOR CORPORATION (“Interfor” or the “Company”) (IFP.TO) today announced it has priced US$50 million in long-term debt financing with Prudential Capital Group. The senior secured notes will carry an annual interest rate of 3.34% and have a final maturity in 2030. The financing is expected to close in March and the proceeds will be used for general corporate purposes.
  • Blank Rome Welcomes New Bankruptcy and Restructuring Associate in Houston
    February 24, 2020
    Blank Rome LLP is pleased to announce that Broocks “Mack” Wilson has joined the Firm as an associate in the Finance, Restructuring, and Bankruptcy practice group. He is based in the Firm’s Houston office. Mack joins Blank Rome from Gerger Law Firm PLLC. He represents debtors, creditors, officers and directors, investors, and trustees in Chapter 7 and 11 bankruptcy proceedings and bankruptcy litigation at trial and appellate levels
  • Utica Equipment Finance Announces New Hire
    February 24, 2020
    Utica Equipment Finance, a leading provider of equipment-based term loans and leases to companies throughout North America, today announced that Britt Stackhouse has joined the firm as a Managing Director based in New York City. He will be responsible for sourcing and developing client and referral relationships throughout the United States.
  • Gibraltar Continues to Grow, Welcoming New SVP Robin Oertel to the Upper Midwest Region
    February 24, 2020
    Robin will be using her 20-plus years of experience to originate and execute new asset-based lending relationships in the Upper Midwest region (IL, WI, MN, IA, MO, ND, SD, NE, KS). Her experience in business development, relationship management and field examinations provides a solid platform for delivering solutions that meet or exceed clients’ and financial sponsors’ goals.
  • Pinnacle Capital Finance Provides a $4.5 Million Line of Credit to a Leading Furniture Manufacturer
    February 24, 2020
    Pinnacle Capital Finance is proud to announce the issuance of a $4.5MM line of credit to a leading San Francisco Bay Area design, manufacturer and distributor of indoor and outdoor modern furniture. The company supplies state of the art furniture and lighting to retail, restaurant, hospitality, rental and design companies located in the United States, Canada and some South American countries.
  • SB360 Capital Partners Adds New Hires As Growth and Expansion Continue
    February 24, 2020
    Adam Milton joins SB360 as a Senior Financial Analyst. He will be engaged in varied financial analyses of SB360’s business including acquisitions, collateral monitoring, dispositions, and special projects. Tiffany Arredondo joins SB360 as Assistant Vice President of Corporate Development. She will be responsible for corporate initiatives and assisting with new business. Tiffany will play a role in all aspects of assessing new business opportunities, generating business insights to further advance short and long-term growth strategies and priorities.
  • North Mill Capital Announces $750,000 Asset Based Credit Facility
    February 24, 2020
    The funds will be used to support the working capital needs of the business.
  • AES Distributed Energy Secures $341 Million of Debt Financing from Silicon Valley Bank, KeyBank N.A. and Nomura
    February 24, 2020
    The financing is the largest domestic debt facility raised for a portfolio of community and distributed solar and represents the third large umbrella facility AES DE has completed since 2017. Silicon Valley Bank (SVB), KeyBank N.A. and Nomura acted as coordinating lead arrangers.
  • Ralph Hamers to Leave ING to Become CEO of UBS
    February 24, 2020
    Ralph Hamers, CEO of ING, will step down from his position and leave ING as of 30 June 2020. After 29 years at ING he will join UBS on 1 September 2020 and will become Group Chief Executive Officer per 1 November 2020. Over the past six years Ralph Hamers has transformed ING into a leading digital bank, on the way to become the go-to financial platform for our customers. He created value for all stakeholders and played a leading role in driving sustainability efforts in the financial industry.
  • David Viggiano Joins Sterling National Bank as Senior Managing Director of Asset Based Lending, Commercial Banking
    February 24, 2020
    David has been in the secured lending business his entire career and has held various leadership positions in both ABL and Equipment Finance.
  • Axiom Bank N.A. Appoints Bryan Scheff as VP, Commercial Relationship Manager
    February 24, 2020
    Axiom Bank N.A., a Maitland-based, leading community bank, recently named Bryan Scheff as VP, Commercial Relationship Manager. In this role, Mr. Scheff will develop relationships with Axiom’s commercial partners in Central Florida.
  • Heritage Global Valuations ("HGV") Expands
    February 24, 2020
    Heritage Global Valuations ("HGV") is pleased to announce the addition of William (Bill) Kleibenstein, ASA to its Machinery and Equipment valuation practice. Bill comes to HGV with over 30 years of appraisal experience and is based in our new Milwaukee, WI office.
  • ABLC Opens California Office
    February 24, 2020
    Asset Based Lending Consultants (ABLC) , one of the nation’s leading field examination outsource firms, is pleased to announce the opening of a new office in the Los Angeles, California area. This expansion helps to give ABLC a farther reach within the ever-growing ABL market. With an already global reach with offices in Hollywood, FL and London, England, the ABLC brand is only getting stronger.
  • Artis Trade Systems Adds 5Star Bank in Colorado to Their Portfolio
    February 24, 2020
    Artis Trade Systems (“Artis”) added another bank to ArtisPay, its supply chain finance (SCF) software platform. On December 2nd, Artis entered into an agreement with 5Star Bank, a community bank in Colorado Springs, CO.
  • Moody’s and KBRA Upgrade Their Published Ratings on Stonebriar’s ABS
    February 24, 2020
    Stonebriar Commercial Finance (“Stonebriar”), a leading independent large-ticket commercial finance company, is pleased to announce a number of rating upgrades published by both Kroll Bond Rating Agency (“KBRA”) and Moody’s Investors Service (“Moody’s”) on its various asset-backed securities (“ABS”). Stonebriar is an experienced ABS issuer and servicer with approximately $2bn of outstanding ABS across 5 deals each backed by a variety of large ticket equipment asset types.
  • California Bank of Commerce Welcomes Gokul Nair to its Treasury Management Group
    February 24, 2020
    Nair joins California Bank of Commerce with more than 15 years of experience in commercial banking. He has held various positions with Wells Fargo, most recently serving as Vice President and Senior Treasury Management Consultant for the past three years. Nair was named Wells Fargo’s Top Treasury Consultant in 2018.
  • Encina Business Credit, LLC Announces the Closing of a $25 Million Credit Facility with Etailz, Inc.
    February 24, 2020
    Encina Business Credit, LLC (“EBC”) announces the completion of a $25.0 million senior secured revolving credit facility for etailz, Inc. The facility will be used to refinance an existing facility and to support etailz ongoing working capital, capex, and general corporate requirements.
  • Wells Fargo Supports Refinancing of AJ Walter Aviation
    February 24, 2020
    AJ Walter Aviation, part of the AJW Group (AJW), has closed a US$70m senior secured credit facility with Wells Fargo Capital Finance (UK) – part of Wells Fargo & Company – as lead bank and Shawbrook Bank (Shawbrook) as participant.
  • Tiger Capital Group Provides Financing for Go Global Retail's Acquisition of ModCloth from Walmart
    February 24, 2020
    Newly closed transaction highlights Tiger's growing focus on valuation, asset-monetization and strategic financing for e-commerce businesses and stakeholders.
  • Fifth Third Teams With Online Lender to Offer Small-business Loans
    February 24, 2020
    The $169 billion-asset Fifth Third will use a white-label lending service from Fundation that will allow it to approve and fund loans within a day. Small-business clients can apply for loans or lines of credit up to $100,000 through the new service, which the bank is calling Fifth Third Fast Capital.
  • $6bn Advisor Team Joins UBS Private Wealth Management in Boston and Los Angeles
    February 20, 2020
    UBS Private Wealth Management (PWM) is proud to announce that it has hired Denis J. Cleary and Gregory M. Devine, along with Analysts Abigail Harris, Seamus O’Neill, Mindi Chen and Christopher Carbone. Denis and Gregory will maintain offices in both Boston and Los Angeles.
  • Haynes and Boone Recruits Experienced Finance Lawyers Jim Markus and Tim Johnston
    February 20, 2020
    Markus and Johnston have spent the bulk of their careers handling complex finance transactions in a variety of sectors, including manufacturing, distribution, energy, and electronics. They represent lenders, including international and regional banks, private equity funds and corporate borrowers, and have particular experience handling syndicated and bilateral domestic and cross-border asset-based lending (ABL) transactions and leveraged financings in the commercial and industrial spaces.
  • Sixpoint Announces Seven Promotions, Including Election of Shawn Schestag to Partner, and Andrew Gulotta and Sean Joffe to Managing Director
    February 20, 2020
    Sixpoint Partners (“Sixpoint”), a leading global investment bank serving the middle-market private equity industry, today announced the election of Shawn Schestag to Partner, and the promotions of six others, including two to Managing Director. The promotions span across the Secondary Advisory, Distribution and Project Management teams. Mr. Schestag’s election and the additional six promotions are effective immediately.
  • Larry Blackman Joins Phoenix Management Services as a Senior Director
    February 20, 2020
    Larry Blackman joined Phoenix Management Services as a Senior Director in the firm’s Boston, MA office and brings to the firm more than 25+ years of experience in finance and operations.
  • Bausch Health Announces It Is Seeking A Refinancing Amendment To Its Existing Credit Agreement And Conditional Redemption Of Existing Senior Secured Notes
    February 20, 2020
    ausch Health Companies Inc. (NYSE/TSX: BHC) ("Bausch Health" or the "Company") announced today that it is seeking to amend and refinance its existing credit agreement (the "Credit Agreement") in order to extend and reprice its existing term loan facility and revolving credit facility and make certain other amendments to the terms of the facilities in connection therewith (collectively, the "Credit Agreement Refinancing"). Additionally, the Company intends, subject to market conditions, to have Bausch Health Americas, Inc. ("BHA"), a wholly-owned indirect subsidiary of the Company, issue $3.25 billion of secured debt securities (the "New Debt Securities").
  • Wingspire Capital Hires Will Bence as Principal in the Midwest
    February 19, 2020
    Wingspire Capital, LLC (“Wingspire”) today announced that William Bence joined the firm as Principal, responsible for business development activities of Wingspire Capital in Chicago and the midwestern United States. Will joins Wingspire from Fifth Third Business Capital where he had nearly 15 years of experience, most recently leading the middle market ABL business development efforts in the Michigan and Ohio marketplace.
  • Tiger Group Sets 2019 Sales Record for Pro-Grade AV Gear
    February 19, 2020
    Company’s LA-based audiovisual vertical posts a 50 percent increase in total dollar volume for auctions, liquidations and turnkey sales in 2019; buyers and bidders increase by 40 percent.
  • True Wind Capital Hires John Gray as Vice President
    February 19, 2020
    True Wind Capital, a leading private equity firm focused on investments in targeted segments of technology, today announced the hiring of John Gray as Vice President.
  • Rosenthal Provides $3 Million Factoring Facility for Georgia Based Chemical Company
    February 19, 2020
    Rosenthal & Rosenthal, Inc., the leading independent factoring, asset-based lending and purchase order financing firm in the United States, today announced the completion of a recent $3 million non-recourse factoring deal with Cady Industries, Inc., a specialty chemical manufacturer.
  • Experienced Consumer Financial Services Attorney Lori Sommerfield Joins Ballard Spahr in Minneapolis
    February 19, 2020
    Lori Sommerfield—a seasoned consumer financial services attorney with over two decades of legal and compliance risk management experience—has joined Ballard Spahr as of counsel in Minneapolis, firm Chair Mark Stewart announced today.
  • Dairy Farmers of America Reaches Agreement With Dean Foods
    February 19, 2020
    DFA to become stalking horse bidder to acquire substantial portion of Dean Foods assets and business. DFA is advised in this matter by Latham & Watkins, LLP, Bryan Cave Leighton Paisner, LLP and Houlihan Lokey.
  • S&W Seed Company to Acquire Australian-Based Pasture Genetics
    February 19, 2020
    The overall transaction is valued at up to USD $13.5 million (AUD $20.0 million). Initial consideration of USD $8.1 million (AUD $12.0 million) consists of an upfront cash payment of approximately USD $0.7 million (AUD $1.0 million) and a working capital debt refinancing in the amount of approximately USD $7.4 million (AUD $11.0 million), through a new Pasture Genetics working capital debt facility guaranteed by S&W's Australian subsidiary.
  • LendingClub Announces Acquisition Of Radius Bank
    February 19, 2020
    J.P. Morgan Securities LLC served as exclusive financial advisor to LendingClub in connection with the transaction and Sullivan and Cromwell LLP served as its legal counsel. Additionally, Broadhaven Capital Partners and Piper Sandler served as financial advisors to Radius Bancorp and Hogan Lovells US LLP served as its legal counsel in connection with the transaction.
  • BlackArch Partners Announces Hiring of Will Pittman as Managing Director
    February 19, 2020
    BlackArch Partners, a leading middle-market investment bank, is pleased to announce that Will Pittman has joined the firm as Managing Director and Co-head of BlackArch's Consumer & Retail Group.
  • BOK Financial Bolsters Syndications Desk With Strategic New Hire
    February 19, 2020
    BOK Financial (BOKF), has added industry-veteran Evans Swann as the managing director of Loan Syndications for BOK Financial. Swann strengthens the firm’s growing syndications activities by adding tremendous experience in both Corporate Banking and Energy Banking
  • Trinity Capital Increases Its Capital Resources with a $300 Million Credit Facility to Support Continued Investment in Portfolio Growth
    February 19, 2020
    Trinity Capital Inc. (“Trinity” or the “Company”), a leading specialty lending company that provides debt and equipment lease financing to growth stage companies backed by technology banks, venture capital and private equity firms, today announced that effective January 16, 2020, it became a party to a $300.0 million credit facility (the “Credit Facility”) with affiliates of Credit Suisse AG.
  • Albright Capital Extends Credit Facility for Innovattel; Positions Portfolio Company to Expand Wireless Infrastructure Leadership in LatAm
    February 19, 2020
    Albright Capital Management, LP (“Albright Capital”) and Innovattel LLC (“Innovattel”) announced today that they have extended the credit facility provided by Albright Capital to Innovattel’s Argentine subsidiary, Torresec SA (“Torresec”) and agreed to the terms of a new capital commitment. Newly committed funds will be used to expand Torresec’s digital infrastructure assets in Argentina.
  • Monticello Provides $38M for Retirement Community in New Jersey
    February 19, 2020
    Monticello and its affiliates have provided $38 million in first lien debt financing for the acquisition of one rental-model retirement community in New Jersey. The community features 226 independent living units, 113 assisted living and memory care beds and 60 skilled nursing beds.
  • Pacific Western Bank Announces Credit Facility to Cradle Genomics
    February 19, 2020
    Pacific Western Bank today announced it has provided a $6 million credit facility to new client, Cradle Genomics, creator of non-invasive prenatal testing solutions to be offered at the earliest stages of pregnancy. The company will utilize the facility to support its rapidly expanding team and accelerate the development of proprietary technology enabling comprehensive and safe prenatal tests to be delivered as early as five weeks into a pregnancy.
  • Siena Lending Group LLC Surpasses $1.0 Billion In Closed Credit Facilities
    February 19, 2020
    Siena Lending Group LLC (“Siena”) announces it has surpassed $1.0 billion in closed credit facilities with the completion of a $25.0 million asset-based revolving credit facility for an integrated packaging company headquartered in California.
  • Blank Rome Welcomes Corporate Partner Masha Trainor in Pittsburgh
    February 18, 2020
    Trainor is the sixth attorney to join the Firm’s national Corporate, M&A, and Securities group in 2020. Masha focuses her practice on international and domestic mergers and acquisitions, corporate governance matters, joint ventures, private debt and equity financings, commercial transactions, and contract management, as well as venture capital and private equity transactions
  • BankFinancial NA Announces Expansion of BankFinancial Commercial Real Estate Capital Markets
    February 18, 2020
    BankFinancial NA (“the Bank”), the national banking association subsidiary of BankFinancial Corporation (Nasdaq - BFIN) announced today the expansion of BankFinancial Commercial Real Estate Capital Markets.
  • Scaling Corporate Sustainability: Innovations In Sustainability-Linked Loans At Brookfield Renewable Partners, International Seaways, WSP Global, And Neuberger Berman
    February 18, 2020
    2020 has been busy for North American sustainability-linked loans with many firsts. Following previous sustainability-linked loan developments in Europe, US volume more than quadrupled to $18bn in 2019 from $4 billion in 2018 while global volume nearly tripled to $113 billion from $48 billion.
  • CIT Leads Financings Totaling $93.7 Million for Healthcare Venture
    February 18, 2020
    CIT Group Inc. (NYSE: CIT) announced that its Healthcare Finance unit served as the lead arranger of $93.7 million in combined financing for 19 healthcare facilities in California, Nevada and Washington between New Generation Health LLC (New Gen) and affiliates of Genesis Healthcare Inc. (Genesis).
  • Tenneco Amends Credit Agreement to Provide Increased Flexibility
    February 18, 2020
    Tenneco Inc. (NYSE: TEN) today announced that it has reached an agreement with its senior lenders to amend the leverage covenant ratio of its senior credit facility, which increases the Company's maximum net leverage ratio to 4.50 through the first quarter of 2021. Moving forward, the covenant decreases gradually until 3.50 is reached by the fourth quarter of 2022.
  • Triumph Business Capital Names Erik Bahr EVP of Sales
    February 18, 2020
    Triumph Business Capital, member of the Triumph Bancorp, Inc. group and provider of working capital financing solutions to small- and medium-sized businesses, announced today the hiring of Erik T. Bahr as executive vice president of sales. He will report to Geoff Brenner, chief executive officer.
  • Grant Thornton Names David Platt to East Region Leadership Role; Expands Regional Role for Nichole Jordan
    February 18, 2020
    Grant Thornton LLP has named David Platt as its regional managing partner for the firm’s East region. In the role, Platt will oversee a consolidated geographic area covering the firm’s East Coast operations. In addition, Grant Thornton has expanded Nichole Jordan’s role as its regional managing partner for the firm’s Central region – adding the Midwest geographic area to a portfolio that previously consisted of Kansas, Missouri, Nebraska, Oklahoma and Texas.
  • Antares Supports Sentinel Capital Partners’ Acquisition of ECM Industries
    February 18, 2020
    Antares announced that it served as lead left arranger and is acting as administrative agent for a senior secured credit facility to support Sentinel Capital Partners’ acquisition of ECM Industries. Headquartered in New Berlin, WI, ECM Industries is a global manufacturer and supplier of electrical products for construction, maintenance, lighting, irrigation, landscape supply and gas utility markets.
  • Golub Capital Agents $1.6 Billion One-Loan Debt Facility to Support a Strategic Investment by Harvest Partners in MRI Software, a Portfolio Company of TA Associates and GI Partners
    February 18, 2020
    Golub Capital acted as the Administrative Agent, Left Lead Arranger and Joint Bookrunner on a $1.6 billion GOLD facility to finance a substantial strategic investment in MRI Software by funds managed by Harvest Partners, LP and refinance existing indebtedness. GOLD facilities are Golub Capital One-Loan Debt facilities.
  • FDIC Approval Moves Varo to Final Stage of Bank Charter Journey
    February 18, 2020
    Landmark approval signifies pivotal moment for banking industry, formalizing mobile-first brand's massive role in providing consumers greater choice and leading digital experiences
  • The Boy Scouts of America Files for Chapter 11 Bankruptcy
    February 18, 2020
    The Boy Scouts of America (BSA) today announced that the national organization has filed for bankruptcy under Chapter 11 of the U.S. Bankruptcy Code to achieve two key objectives: equitably compensate victims who were harmed during their time in Scouting and continue carrying out its mission for years to come. The BSA intends to use the Chapter 11 process to create a Victims Compensation Trust that would provide equitable compensation to victims.
  • Pier 1 Files for Ch. 11 Bankruptcy as Talks With Potential Buyers Continue
    February 18, 2020
    Pier 1 announced Monday that it began Chapter 11 bankruptcy proceedings in Virginia and that it is pursuing a sale of the company. The company said it plans to use this process to complete the previously announced closure of up to 450 store locations, including all Canadian locations. Prior to filing Chapter 11, Pier 1 said it entered into an agreement with the majority of its term loan lenders and secured commitments of approximately $256 million in debtor-in-possession financing from Bank of America, Wells Fargo, and Pathlight Capital.
  • North Mill Capital Funds Seating Concepts, LLC
    February 18, 2020
    North Mill Capital is pleased to announce the funding of a $3,000,000 revolving line of credit and a $500,000 equipment term loan facility to Seating Concepts, LLC. The proceeds were used to pay off the existing lender and provide additional working capital.
  • Allegiant Announces Closing Of Repricing And Upsize Of Term Loan B Facility
    February 18, 2020
    Allegiant Travel Company (today announced the closing of the amended agreement of its existing term loan with Barclays Bank PLC as administrative agent. Barclays Bank PLC, Goldman Sachs Lending Partners LLC and Credit Agricole Corporate and Investment Bank served as lead arrangers, bookrunners and syndication agents for the transaction. The amendment effects a repricing and upsizing of the Term Loa
  • Omnicom Extends Agreement of $2.5 Billion Revolving Credit Facility
    February 18, 2020
    Omnicom Group Inc. (NYSE: OMC) announced today the amendment and extension of its multiyear revolving credit facility to February 2025. Amounts available for borrowings under the facility are unchanged at $2.5 billion. The agreement includes two one-year extensions of the facility on any anniversary date with bank approvals.
  • Stonybrook Capital Advises on Cypress Group Holdings' $45M Senior Secured Credit Facility
    February 18, 2020
    Stonybrook Capital is pleased to announce the completion of a capital raise for a $45,000,000 senior secured credit facility for Cypress Group Holdings, Inc. (“Cypress”). Stonybrook Capital served as the exclusive financial advisor to Cypress on this transaction.
  • Greenfields Petroleum Corporation Announces Extension of Forbearance Agreement and Agreement to Defer Payment of its Senior Secured Debt
    February 18, 2020
    Greenfields Petroleum Corporation (the “Company” or “Greenfields”) (TSX VENTURE: GNF), a production focused company with operating assets in Azerbaijan, announces that Vitol Energy (Bermuda) Ltd. (“Vitol”), the Company’s senior debt lender, has agreed to further amend the forbearance agreement executed on November 28, 2019 and previously amended on January 3, 2020 (the "Forbearance Agreement"), by extending the forbearance period and deferred payments due under the senior secured loan agreement with the Company (the "Vitol Loan") until March 16, 2020.
  • Syros Announces $60 Million Loan Facility with Oxford Finance LLC
    February 18, 2020
    Syros Pharmaceuticals (NASDAQ:SYRS), a leader in the development of medicines that control the expression of genes, today announced the closing of a $60 million senior secured loan facility with Oxford Finance LLC, a specialty finance firm providing senior debt to life sciences and healthcare service companies. The non-dilutive financing agreement provides Syros with up to $60 million in borrowing capacity in three tranches, with the initial tranche of $20 million available immediately.
  • River City Bank Adds Former Bank of Marin COO Jim Kimball as EVP, Market President for North Bay Region
    February 13, 2020
    River City Bank is expanding its business banking services in the North Bay region and has announced Jim Kimball as Executive Vice President and Market President for the North Bay. In this new role, Kimball will expand the bank's commercial banking presence by establishing a footprint and hiring a locally based team to serve business clients and communities in Marin, Sonoma and Napa counties.
  • Webster Promotes Jason Soto to Executive Vice President, Chief Credit Officer
    February 13, 2020
    Webster Bank is pleased to announce that Jason Soto, Chief Credit Officer, has been promoted to executive vice president, responsible for credit risk activities across the organization. He reports to directly to Daniel Bley, executive vice president and Chief Risk Officer.
  • Kohl's Cuts 250 Jobs While Arguing That it is Operating From 'a Position of Financial Strength'
    February 13, 2020
    Kohl's is eliminating 250 roles, including an entire "layer" of regional-store leadership, according to a report from the Milwaukee Journal Sentinel.
  • New Podcast About Successful Business Leaders from HPS Investment
    February 13, 2020
    Leading global investment firm, HPS Investment Partners, has launched a new podcast series, The HPScast. The new series focuses on the careers of successful business leaders including: co-founder of Alvarez and Marsal, Brian Marsal, former Soulcycle CEO Melanie Whelan, and cable and media legend, Leo Hindery.
  • Investors Bank Appoints Andy Phelps To New Position in the Healthcare Lending Group
    February 13, 2020
    Investors Bank’s Healthcare Lending Group has appointed James Andrew “Andy” Phelps to the position of Senior Vice President. Mr. Phelps, who will report to the Healthcare Lending’s Founder and Senior Vice President James Vincenti, will be a member of the team that is introducing a new line of innovative banking products and services for healthcare providers. Mr. Phelps will be responsible for developing, managing and growing a portfolio of loans serving the national healthcare sector.
  • Encina Business Credit, LLC Announces the Closing of a $50 Million New Money DIP Facility for The McClatchy Company
    February 13, 2020
    Encina Business Credit, LLC (“EBC”) announces the completion of a $50.0 million revolving credit facility for The McClatchy Company (“McClatchy”). The facility was used to refinance McClatchy’s pre-petition, asset-based revolver and support their working capital needs during bankruptcy. The facility is also structured to automatically convert to an exit financing upon meeting certain criteria.
  • Sallyport Commercial Finance Structures a Credit Facility for a Plant Nursery in North America
    February 12, 2020
    Sallyport Commercial Finance supplies a $1,300,000 accounts receivable facility to a wholesale distributor of plants and flowers. The company needed additional working capital to fulfill large orders. They were referred to Sallyport by a broker who has worked with us in the past and felt confident that we could provide a structured solution to support their growth.
  • Stage Stores Reportedly Eyeing Bankruptcy
    February 12, 2020
    The retailer is preparing for a financial restructuring that could include a bankruptcy filing, reported The Wall Street Journal. According to the report, Stage Stores has been late in paying its vendors amid a cash crunch. Stages Stores has brought on the investment bank and financial services firm Peter J Solomon and law firm Kirkland & Ellis as it looks to refinance its bank debt, according to the report.
  • Allied Motion Secures New $225 Million Credit Facility
    February 12, 2020
    Refinancing expands borrowing capacity nearly 30%, reduces cost of debt and enhances flexibility to drive growth strategy
  • Winter Harbor Announces New Senior Director and Senior Managers
    February 12, 2020
    Winter Harbor LLC, a national restructuring and turnaround firm, announced Kurt Hedderich has been promoted to senior director and Matt Czerkowicz and Matt Dalton have both been promoted to senior manager.
  • SG Credit Provides $2.0 Million to Enterprise SaaS Company
    February 12, 2020
    SG Credit provided the Company with a bifurcated loan structure consisting of a $1MM interest-only loan to refinance the existing debt and a $1MM term loan to finance the Company’s growth initiatives.
  • KKR Closes $1.3 Billion Global Impact Fund
    February 12, 2020
    KKR, a leading global investment firm, today announced the final closing of KKR Global Impact Fund SCSp (“KKR Global Impact” or the “Fund”), a $1.3 billion fund dedicated to investment opportunities in companies whose core business models provide commercial solutions to an environmental or social challenge.
  • TAB Bank Provides Technology Company in California with a $2.5 Million Revolving Credit Facility
    February 12, 2020
    TAB Bank is pleased to announce it has provided a $2.5 million revolving credit facility for a technology company based in in California. The new facility is extended through a multi-year agreement and will provide for the company’s ongoing working capital needs
  • Prominent Energy M&A Partner Rejoins Latham & Watkins in Houston
    February 12, 2020
    Latham & Watkins LLP is pleased to announce that Justin T. Stolte has returned to the firm's Houston office as a partner in the Corporate Department and member of the Mergers & Acquisitions Practice. Stolte draws on a unique combination of technical, legal, and business experience regularly representing clients in complex transactions across the energy sector.
  • California Bank of Commerce Adds Michael Nicita as Executive Vice President, Senior Credit Administrator
    February 12, 2020
    California BanCorp (CALB), the holding company for California Bank of Commerce (CBC), has further expanded its Northern California presence with the addition of Michael Nicita as Executive Vice President and Senior Credit Administrator. Nicita will be based out of the Sacramento office and will be responsible for overseeing high-quality credit underwriting.
  • Wells Fargo Announces Organizational Changes
    February 12, 2020
    Wells Fargo & Company (NYSE: WFC) today announced the appointment of several new business leaders and changes designed to create a flatter line of business organizational structure and provide leaders with clear authority, accountability, and responsibility. The new model has five line of business CEOs, each reporting to Wells Fargo CEO Charlie Scharf and represented on the company’s Operating Committee.
  • Can Macy’s Save Itself?
    February 12, 2020
    Macy’s has a three-year plan to turn around flagging sales, but experts say it might be too little, too late for the iconic U.S. retailer.
  • Austin Financial Services Provides $6.3MM for Revolving and Term Loan Credit Facilities to a Meal Production Company with National Presence
    February 12, 2020
    Austin Financial Services, Inc. (AFS) is pleased to announce the closing of a $6.3MM AR and Inventory revolver with M&E and Capex Term Loans to a company who provides meal production & delivery service to hospitals, skilled nursing homes, long-term care facilities and catering companies throughout the country.
  • North America M&A Activity Analysis-Q4 2019
    February 12, 2020
    The North America region witnessed a slump in mergers and acquisition (M&A) deal volume in the fourth quarter (Q4) of 2019, according to GlobalData, a leading data and analytics company. M&A activity within the North America region witnessed a down trend, with the region experiencing a decrease from 3,149 M&A deals in Q4 2018 to 2,851 M&A deals in Q4 2019.
  • Peoples Financial Corporation Announces Officer Promotions
    February 11, 2020
    The board of directors of Peoples Financial Corporation (OTCQX Best Market: PFBX), parent of The Peoples Bank ("bank"), today announced the promotions of Karen B. Arguelles to Vice President (Commercial Lending), Brian J. Kozlowski to Senior Vice President and Chief Administrative Officer and A. Tanner Swetman to Senior Vice President and Chief Operating Officer.
  • Business Capital Delivers Financing For Bay Area Medical Clinic
    February 11, 2020
    Business Capital structured and delivered approximately $6MM in senior secured loans for NOVA IVF, a clinic established in 1987, providing in vitro fertilization (IVF) treatments with a consistent success rate well above average nationwide.
  • Angelo Gordon Raises $1.8 Billion for Inaugural Credit Solutions Fund
    February 11, 2020
    Angelo, Gordon & Co., L.P. (“Angelo Gordon” or the “Firm”), a $38 billion alternative investment firm focused on credit and real estate investing, announced today the final closing of AG Credit Solutions Fund, L.P. (the “Fund”) with $1.8 billion of equity commitments.
  • Earth Fare Enlists Firms to Market Stores, Intellectual Property
    February 11, 2020
    Earth Fare, which filed for Chapter 11 bankruptcy protection last week, has retained A&G Real Estate Partners to market and sell all of its stores and leases and Hilco Streamback to do the same for its intellectual property.
  • Knightsbridge Capital Group Announces $100 Million Credit Agreement with BCI
    February 11, 2020
    Knightsbridge Capital Group, an asset-based lender based in Vancouver, is pleased to announce that it has entered into a credit agreement with British Columbia Investment Management Corporation ("BCI") for a $100 million operating facility to leverage one of its asset-based funds - Maynbridge Capital Inc. Raymond James' Private Capital Solutions Investment Banking Group advised Knightsbridge Capital Group on the new leverage facility.
  • Noble Roman's Completes Strategic New Financing Package
    February 11, 2020
    Noble Roman's, Inc. (NROM), the Indianapolis based franchisor and operator of Noble Roman's Pizza and Noble Roman's Craft Pizza & Pub announced today that it has completed a new financing package that provides for three new company-owned Craft Pizza & Pub locations, the repayment of its existing term loan and the repayment of all non-extended subordinated convertible debt.
  • PQ Group Holdings Announces Successful Repricing and Extension of Term Loan Facility
    February 11, 2020
    PQ Group Holdings Inc. (NYSE:PQG), a leading integrated and innovative global provider of specialty catalysts, materials, chemicals, and services, announced today that its indirect, wholly owned subsidiary, PQ Corporation (the “Company”) has successfully secured commitments to amend its existing senior secured term loan facility (the “Amended Term Loan Facility”) in an aggregate principal amount of $947.5 million at a lower interest rate margin and with an extended maturity.
  • Agile Therapeutics, Inc. Enters into up to $35 Million Loan Facility with Perceptive Advisors
    February 11, 2020
    Agile Therapeutics, Inc. (AGRX), a women’s healthcare company, today announced that it has entered into a senior secured term loan credit facility with Perceptive Advisors to provide Agile with up to $35 million through term loans in three tranches: $5 million was funded today after the satisfaction of customary closing conditions, $15 million will be available if Twirla® is approved by the U.S. Food and Drug Administration (“FDA”), and $15 million will be available upon the achievement of certain revenue milestones
  • Ares Management Provides $450 Million Credit Facility to Ag Resource Management
    February 11, 2020
    Ares Management Corporation (NYSE: ARES) ("Ares") announced that funds managed by its Alternative Credit strategy have provided a $450 million revolving asset-backed credit facility secured by agricultural production loans originated by Ag Resource Management ("ARM").
  • Alleon Healthcare Capital Provides a $750,000 Medical Accounts Receivable Financing Facility to a Pennsylvania-Based Pharmacy
    February 11, 2020
    The Company is a 20-year old multi-state licensed, independently owned pharmacy provider. In 2015 the Company created the my-medPak Medication Management Program. This program provides a simple and safe solution to help manage a patient’s medications at no additional cost. The Company sorts and delivers patient medications in customized medPaks with a care team that provides the added support to ensure patients adherence to their medication protocol.
  • Uniti Group Inc. Announces Closing of Senior Secured Notes Offering and Effectiveness of Credit Agreement Amendment
    February 10, 2020
    The Issuers used the net proceeds from the offering to repay all $2.05 billion of outstanding borrowings under Uniti’s term loan facility and $156.7 million of outstanding borrowings under Uniti’s revolving credit facility (and terminated related revolving commitments in an amount equal to $157.6 million).
  • Oncor Electric Delivery Secures $450M Term Loan
    February 10, 2020
    Oncor Electric Delivery Co. LLC entered a term loan credit agreement for $450 million with certain lenders and Sumitomo Mitsui Banking Corp. as the administrative agent. The Sempra Energy subsidiary can borrow the full loan amount in up to four borrowings at any time before April 27, according to a Jan. 30 filing.
  • Dean Nordlinger Joins Blank Rome as Corporate Partner in D.C.
    February 10, 2020
    Blank Rome LLP is pleased to announce that Dean S. Nordlinger has joined the Firm’s Washington, D.C., office as a Partner in the Corporate, M&A, and Securities group, which welcomed Partner Stacy H. Louizos earlier this week in the New York office. Dean brings more than 20 years of experience representing privately held and closely held companies of all sizes, private equity firms, and entrepreneurs from a broad range of industries.
  • H.I.G. Bayside Capital Promotes Andrew Scotland to Co-Head of Special Situations Debt in Europe
    February 10, 2020
    H.I.G. Bayside Capital (“Bayside”), the distressed debt and special situation affiliate of H.I.G. Capital (“H.I.G.”), a leading global private equity investment firm with over €31 billion of equity capital under management, is pleased to announce the promotion of Andrew Scotland to Co-Head of the firm's European special situations debt activities. Andrew will co-head alongside Bayside Managing Director Duncan Priston.
  • Valeritas Announces Agreement for Zealand Pharma to Acquire Business and Retain Employees
    February 10, 2020
    Company and Subsidiaries Commence Voluntary Chapter 11 to Facilitate Value-Maximizing Sale; Commercially Successful Business to Continue as Usual During Court-Supervised Sale Process; Commitment Obtained for Debtor-in-Possession Financing to Support Ongoing Operations; DLA Piper LLP (US) is serving as legal counsel to Valeritas, Lincoln International is serving as investment banker, and PricewaterhouseCoopers LLP is serving as financial advisor..
  • PGIM Private Capital Provides $13B in Private Debt to Middle-market Companies in 2019
    February 10, 2020
    PGIM Private Capital provided $13 billion of senior debt and junior capital to 228 middle-market companies and projects globally in 2019. PGIM Private Capital, a leading source of private capital for public and private companies, is the private capital arm of PGIM Inc., the $1.3 trillion global investment management business of Prudential Financial, Inc. (NYSE: PRU).
  • Regions Bank Names Tara Odell as East Texas Market Executive
    February 10, 2020
    As Market Executive, Odell will leverage her local experience and insights to expand Regions’ client base while also taking a strategic, proactive role in addressing various needs across the area. She will work with colleagues and community members in support of Regions’ community engagement initiatives throughout East Texas, including volunteer service, nonprofit assistance, delivering financial education and more.
  • TradeCap Partners Closes $500,000 Purchase Order Facility for Footwear Apparel Importer
    February 10, 2020
    TradeCap Partners (“TradeCap”) is pleased to announce the closing of a $500,000 purchase order facility for a New York-based clothing and footwear apparel importer selling through retail channels in the United States. The impact of tariffs hindered the Client’s ability to meet price points and margin requirements retailers were demanding as a tradeoff for growth in purchasing volume.
  • Greg Seibly Named as President of Union Bank and Head of Regional Banking
    February 10, 2020
    Seibly will oversee the Union Bank commercial banking, real estate industries, consumer banking (including PurePoint Financial, an online direct bank), Intrepid Investment Bankers and wealth markets businesses, as well as the bank's corporate social responsibility programs. Seibly will report directly to Steve Cummings, President and Chief Executive Officer for MUFG Americas, and will serve as a member of the Executive Committee for the Americas.
  • American Commercial Lines Inc. Commences Next Step to Implement Prepackaged Recapitalization Plan
    February 10, 2020
    Milbank LLP is serving as the Company's legal counsel, Greenhill & Co. is serving as its financial advisor and Alvarez & Marsal North America, LLC. is serving as restructuring advisor.
  • CohnReznick Guides Successful Restructuring and Sale of Coordinated Health to Lehigh Valley Health
    February 10, 2020
    A restructuring advisory team led by CohnReznick principals Cynthia Romano and Chris Creger recently achieved a monumental success in the restructuring, workout and sale of Allentown, PA-based Coordinated Health (CH). The assets of CH were sold to Lehigh Valley Health Network (LVHN) through an out-of-court transaction that provides protection for more than 1,300 jobs, and preserves and bolsters a nationally ranked orthopedics program.
  • North Mill Capital Funds of $1,000,000 Accounts Receivable Facility
    February 10, 2020
    North Mill Capital is pleased to announce the funding of a $1,000,000 accounts receivable facility. North Mill provided additional working capital for the company in conjunction with the current lender. Master Packing & Rubber Company is a manufacturer and global supplier of sealing products serving the rail, marine and bio-fuel industries.
  • Lamar Advertising Company Announces Completion of Refinancing Transactions & 2020 Distribution Plan
    February 10, 2020
    Lamar Advertising Company (“Lamar”) (LAMR), a leading owner and operator of outdoor advertising and logo sign displays, today announced that it has completed $2.35 billion in refinancing transactions through its wholly owned subsidiary, Lamar Media Corp. (“Lamar Media”), strengthening its balance sheet.
  • Forsey Adds Industry Leader Sativa Rasmussen to Its Cannabis Team
    February 7, 2020
    International law firm Dorsey & Whitney LLP is pleased to announce that Sativa Rasmussen has joined the Firm’s Seattle office as a lawyer in the Cannabis Practice Group.
  • First Eagle Alternative Credit Closes Fourth Middle-Market Direct Lending Fund
    February 7, 2020
    First Eagle Alternative Credit, LLC today announced the final closing of its fourth middle-market direct lending fund, THL Credit Direct Lending Fund IV (“Fund IV”), with $782 million of available investment capacity including leverage.
  • BMO Financial Group Opens Commercial Banking Office in Los Angeles, California
    February 7, 2020
    Led by Tom Jennings, the team will focus on providing business owners in Southern California with BMO's industry expertise, innovative products and services, and local market knowledge.
  • Macy's Closing 125 Stores Signals 'More Pain' for Retailers
    February 7, 2020
    In another signal of a changing landscape for American retailers, Macy's announced a massive restructuring that would involve shuttering 125 department stores, cutting 2,000 jobs and closing three corporate offices.
  • Dwight O. Clarke Earns CFE Credential
    February 7, 2020
    The Association of Certified Fraud Examiners (ACFE), the world’s largest anti-fraud organization and leading provider of anti-fraud training and education, is pleased to award Dwight O. Clarke, of Hollywood, Florida, the globally preferred Certified Fraud Examiner (CFE) credential. In order to become a CFE, Clarke has met a stringent set of criteria and passed a rigorous exam administered by the ACFE.
  • Huntington Business Credit Closes New Credit Facility With International Control Services, Inc.
    February 6, 2020
    Huntington Business Credit announced it closed a new $7,500,000 credit facility with International Control Services, Inc. on December 20, 2019. Proceeds of the facility were used to refinance existing debt and provide ongoing working capital growth financing.
  • First Business Announces Record Factoring Growth in 2019
    February 6, 2020
    First Business Growth Funding reports a 103% increase in 2019 factoring volume over the prior year with a corresponding 85% increase in gross revenues. The group attributes the exponential growth to increased marketing activity, flexible transaction structuring, and superior client service.
  • Flexential® Closes $250 Million Debt Offering in Support of Its Continued Strategic Growth
    February 6, 2020
    Flexential Corp. ("Flexential"), a leading provider of data center colocation and hybrid IT solutions, today announced that its parent, Flexential Intermediate Corporation, issued $250 million of Senior Secured Notes due 2024. Flexential (created in August 2017 following the merger of Peak 10 and ViaWest) operates 40 highly redundant and connectivity-rich data centers spanning 21 markets.
  • GenCanna Global Files for Chapter 11 to Implement Financial and Operational Restructuring Plans
    February 6, 2020
    GenCanna has obtained approximately $10 million in post-petition debtor-in-possession (DIP) financing from its senior lender, which, subject to Court approval, will provide the Company with liquidity to maintain its operations in the ordinary course of business during the Chapter 11 process.
  • Antares Capital Closes Seventh CLO Transaction, Bringing Assets Under Management to $6.9 Billion
    February 5, 2020
    Antares Capital Advisers LLC, a subsidiary of Antares Capital LP (together with its parent companies, “Antares” or the “Company”) announced the closing of Antares CLO 2019-2, Ltd., a $400 million collateralized loan obligation (CLO). The CLO represents the seventh CLO issued by Antares, bringing the company’s total CLO assets under management to approximately $6.9 billion.
  • SierraConstellation Partners Opens New York Office
    February 5, 2020
    SierraConstellation Partners, LLC (SCP), a national interim management and advisory firm to middle-market companies in transition, announced today the opening of an office in New York, N.Y. led by industry veteran David Bitterman as Managing Director, enhancing the firms’ national presence in the turnaround space.
  • Carl Marks Advisors Adds Two Executives to Growing M&A Team
    February 5, 2020
    Carl Marks Advisors, a leading investment bank providing financial and operational advisory services to middle market companies, today announced further expansion of its mergers & acquisitions group with the appointment of Christopher Parisi as Managing Director and Michael Gordon as Vice President.
  • Crestmark Announces New Financing Groups, Names Steven Tomasello and Heath Holdbrooks as Group Heads
    February 5, 2020
    Crestmark has announced an internal restructure and the launch of two new groups that will increase efficiency and timeliness in providing financing to the marketplace. Steven Tomasello leads the Business Credit group, and Heath Holdbrooks leads the Commercial Capital group.
  • Axiom Bank, N.A. Announces New Flagship Branch in Winter Park
    February 5, 2020
    Maitland-headquartered Axiom Bank, N.A. announced it will open a new flagship branch in Winter Park. Expected to begin serving retail and commercial customers in April, the 4,000 square foot office is located on US Highway 17-92 at Minnesota Avenue.
  • Great Rock Capital Continues Expansion of Origination Team
    February 5, 2020
    Great Rock Capital, an asset-focused commercial finance company specializing in middle market lending, today announced Blake Kenny has joined the firm as Managing Director of Originations. Kenny will be based in Detroit and responsible for leading origination efforts in Michigan and Western Pennsylvania.
  • PQ Group Holdings Announces Successful Repricing and Extension of Term Loan Facility
    February 5, 2020
    PQ Group Holdings Inc. (NYSE:PQG), a leading integrated and innovative global provider of specialty catalysts, materials, chemicals, and services, announced today that its indirect, wholly owned subsidiary, PQ Corporation (the “Company”) has successfully secured commitments to amend its existing senior secured term loan facility (the “Amended Term Loan Facility”) in an aggregate principal amount of $947.5 million at a lower interest rate margin and with an extended maturity.
  • FTI Consulting’s Corporate Finance & Restructuring Segment Wins Several Industry Awards
    February 5, 2020
    FTI Consulting, Inc. (FCN) today announced that its Corporate Finance & Restructuring segment has been recognized as an industry leader globally through several award programs organized by The Deal, Credit Strategy, The M&A Advisor, Turnaround Management Association (“TMA”), Global M&A Network and Who’s Who Legal.
  • People's United Bank Healthcare Specialty Finance Group Provides Credit Facility
    February 5, 2020
    People's United Bank, N.A., a subsidiary of People's United Financial, Inc. (NASDAQ: PBCT), announced its Healthcare Finance Group provided a $15.5 million Credit Facility to Esplanade Capital LLC.
  • American Commercial Lines Inc. Reaches Agreement with Lenders on Prepackaged Plan to Recapitalize Business
    February 5, 2020
    American Commercial Lines Inc. (together with certain of its affiliates, "the Company" or "ACL") today announced that it has entered into a Restructuring Support Agreement (the "RSA") with holders of a substantial majority of its term loan lenders on a "pre-packaged" plan to recapitalize the business and significantly reduce the Company's debt. Under the terms of the RSA, ACL will receive $200 million in new capital to support liquidity and investments in the business. In addition, the RSA provides for a reduction of funded debt by approximately $1 billion.
  • Ares Management Corporation Provides $350 Million Credit Facility to Southern Management Corporation
    February 5, 2020
    Ares Management Corporation (NYSE: ARES) (“Ares”) announced today that funds managed by its Alternative Credit strategy have provided a $350 million revolving asset-backed credit facility secured by consumer loans to Southern Management Corporation (“Southern”), a portfolio company of Milestone Partners. The financing will repay Southern’s existing credit facility and support its acquisition of Heights Finance Corporation.
  • BNP Paribas Closes Sustainability-Linked Syndicated Credit Facility with WSP Global
    February 4, 2020
    Canadian Imperial Bank of Commerce, National Bank Financial and BMO Capital Markets are Joint Bookrunners and Co-Lead Arrangers on the credit facility.
  • Nautilus, Inc. Announces A New $70,000,000 Credit Facility Comprised of a $55,000,000 Asset-Based Revolver and a $15,000,000 Term Loan Provided by Wells Fargo
    February 4, 2020
    New five-year credit facility expected to provide significant incremental liquidity and financial flexibility through January 31, 2025. OceanArc Capital Partners LLC acted as the Company’s exclusive financial advisor for the transaction.
  • Integra Announces Amendment and Extension of Credit Facility and Private Placement of Convertible Senior Notes
    February 4, 2020
    Integra today announced that it has amended and extended its credit facility with a bank group led by Bank of America, N.A. The overall size of the credit facility is approximately $2.2 billion and consists of a revolving line of credit of $1.3 billion and an $877.5 million term loan. The maturity of the credit facility was extended to February 3, 2025.
  • Gerber Finance Appoints Andrew Hollingworth as Senior Vice President, West Coast Regional Manager
    February 4, 2020
    Andrew Hollingsworth benefits from a uniquely hands-on approach to business, having served as Chief Financial Officer of Numi Organic Tea, a long-standing client of Gerber. Beforehand, his career evolved through multiple senior, corporate and divisional posts in financial services. From PricewaterhouseCoopers to UBS in Switzerland, his CPA experience made him a natural fit for Gerber.
  • Crystal Financial Announces Promotions and Expansion of Business Development Team
    February 4, 2020
    Crystal Financial, a leading provider of direct private credit solutions for middle market businesses, is excited to announce the following promotions and new hires to its team. These additions will position the organization to fully cover the U.S., Canada and select international markets with innovative debt financings across a wide range of industries including consumer/retail, specialty finance, business services and industrials.
  • Bank Leumi USA Elevates Senior Team with Two Strategic Hires
    February 4, 2020
    Bank Leumi USA today announced the appointment of David Paulson as Chief Banking Officer and Jeff Steigelman as Chicago Market President, respectively. Paulson will report directly to Leumi President and CEO, Avner Mendelson. He replaces Shawn McGowen, who will remain with Leumi in an advisory role.
  • Monroe Capital Supports Frontenac’s Recapitalization of XanEdu
    February 4, 2020
    Monroe Capital LLC (“Monroe”) today announced it acted as sole lead arranger and administrative agent on the funding of a senior credit facility to support the recapitalization of XanEdu by private equity sponsor Frontenac. Based in Ann Arbor, MI, XanEdu is a leading provider of custom content solutions to the Higher Ed and K–12 markets.
  • CVC Credit Partners Supports the Expansion of Alline Salon Group
    February 4, 2020
    CVC Credit Partners is pleased to announce that it has provided the first lien funding for Vision Growth Partners' expansion of Alline Salon Group and going forward will further support the growth strategy through the provision of a delayed draw term loan facility. Cowen's Debt Advisory Group acted as the debt advisor for the transaction.
  • B. Riley Adds Veteran Real Estate Turnaround Professional, Michael Jerbich
    February 4, 2020
    B. Riley Financial, Inc. (NASDAQ:RILY) ("B. Riley" or the "Company"), a diversified provider of business advisory and financial services which operates through several wholly-owned subsidiaries, today announced Michael Jerbich has joined as President of B. Riley Real Estate, LLC. A veteran real estate turnaround professional, Jerbich will lead a new business vertical which specializes in providing end-to-end solutions to maximize distressed real estate values.
  • Leslie Godridge to Retire From U.S. Bank; Jim Kelligrew Assumes Vice Chair Role for Corporate & Commercial Banking
    February 3, 2020
    U.S. Bank said today that Leslie Godridge, the company’s vice chair and co-head of Corporate & Commercial Banking, has announced her retirement after 13 years of service to the bank and nearly 40 years in the industry. Jim Kelligrew, who has co-led the Corporate & Commercial Banking division with Godridge for the past four years, will become the new vice chair overseeing the entire organization.
  • Oxford Finance Closes Credit Facility with Impact Advisors
    February 3, 2020
    Oxford Finance LLC ("Oxford"), a specialty finance firm that provides senior debt to life sciences and healthcare services companies worldwide, today announced the closing of a senior credit facility to Impact Advisors ("the Company"), a leading provider of clinical, revenue cycle and information technology advisory services to the healthcare industry. Concurrently, the Company entered into a strategic partnership with Chicago Pacific Founders ("CPF"), an investment firm exclusively focused on healthcare services and caring for aging populations. Oxford is the sole lead arranger and administrative agent in this transaction.
  • Ares Management Corporation to Acquire Seven CLO Contracts Through a Managing Interest in Crestline Denali Capital
    February 3, 2020
    Berkshire Global Advisors served as financial advisor and Winston & Strawn LLP served as legal counsel to Crestline Denali. Latham & Watkins LLP served as legal counsel to Ares.
  • Energy Industry Expert Oleg Mikhailov Joins AlixPartners as a Managing Director
    February 3, 2020
    AlixPartners, announced today that energy industry expert Oleg Mikhailov has joined as a Managing Director and one of the key leaders in the firm’s worldwide energy and process industries practice. He will be based in AlixPartners’ Houston office.
  • Hilco Corporate Finance Hires Industry Expert Brian Graves as Managing Director
    February 3, 2020
    Hilco Corporate Finance (HCF) announced today that Brian Graves has joined the company as Managing Director. In this capacity, Mr. Graves will manage the continued growth and development of the investment banking business. Mr. Graves will be responsible for generating new business for the firm, managing existing client engagements, and overseeing junior staff.
  • Sallyport Commercial Finance Supports Growing Technology Company
    February 3, 2020
    Sallyport Commercial Finance arranges a $1,000,000 accounts receivable facility to a leading, hi-tech camera supplier in the perimeter surveillance industry.
  • CIT Launches HOA Premium Reserve Solution for Community Associations
    February 3, 2020
    CIT Group Inc. (NYSE: CIT) today announced its newly-acquired Community Association Banking division is launching a new suite of premium reserve accounts for homeowner association deposits. These accounts offer competitive returns and the backing of a surety bond for balances over $250,000 for community associations, and the convenience and efficiency of having both operating accounts and reserve accounts at one bank for community managers.
  • Assets of Plastic Sheet Extrusion and Thermoforming Plant Up for Bid
    February 3, 2020
    Tiger Group to sell equipment surplus to ongoing operations of D&W Fine Pack in February 6 live online webcast auction of all assets from the San Bernardino, CA facility.
  • Access Capital Provides $1 Million Credit Facility To Government IT Consulting and Staffing Firm
    February 3, 2020
    Access Capital structured an asset-based lending facility for Universal once it became evident that the company’s banking relationship was no longer meeting its needs. Access Capital will be supporting UNIVERSAL’s growth with a $1 million line of credit.
  • Versant Funding LLC Funds a Non-recourse Factoring Facility to a Manufacturer and Distributor
    February 3, 2020
    Versant Funding LLC is pleased to announce it has funded a $2,000,000 non-recourse factoring facility to a manufacturer and distributor which serves major commercial airlines. The business needed additional working capital to fund its expansion and their senior lender agreed to subordinate its lien on accounts receivables due from only a single customer to allow the business to raise cash.
  • Postal Realty Trust Exercises $50 Million of Accordion Feature on Senior Revolving Credit Facility
    February 3, 2020
    People’s United Bank led the bank group which also included BMO Capital Markets Corp. as syndication agent, and Bryn Mawr Trust, Stifel Nicolaus & Company and TriState Capital as participants.
  • Cresco Labs Closes $100 Million Senior Secured Credit Facility
    February 3, 2020
    Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco Labs” or the “Company”), one of the largest vertically integrated multistate cannabis operators in the United States, today announced that it has closed the recently announced non-brokered credit agreement (the “Credit Agreement”) for a senior secured term loan (the “Senior Loan”) in an initial aggregate principal amount of US$100 million, with a mutual option to increase the size of the facility to a maximum of US$200 million.
  • B&W Announces Comprehensive Debt Refinancing Agreement as Financial Performance Improves
    February 3, 2020
    Provides $200 million commitment to fully refinance existing revolving credit facility; provides an initial $30 million of working capital; provides new $30 million revolving credit facility in May 2020; new maturity date is January 2022; company expects fourth quarter 2019 results to significantly outperform the third quarter, with a return to positive GAAP consolidated operating income for the first time in 3 years.
  • Stonebriar Commercial Finance Closes $30 Million Equipment Lease
    February 3, 2020
    Stonebriar Commercial Finance (“SCF”) has closed an additional $30 million equipment lease facility with its existing customer, an industry-leading food processing company, to support the growth of a new innovative product line. SCF will provide interim financing during the construction term of this new production line, which is forecast to be fully completed by June 2020. When fully funded, SCF’s total outstanding for this key customer will exceed $70 million.
  • North Mill Capital Provides $7 Million to Phoenix Textile Corporation
    February 3, 2020
    Phoenix Textile is a distributor of textiles, sheets, linens and interiors to residential, hospitality, government institutions and healthcare facilities across the country. The family-owned and operated company has been in business since 1983 and is headquartered in Missouri.
  • Celtic Capital Corporation Provides $1.4 Million for California-based Company
    February 3, 2020
    Celtic Capital Corporation today announced its most recent new client relationship – a California-based company that sells fresh and frozen seafood to wholesale and retail customers.
  • Atlantic Power Corporation Announces Amendment to Credit Facilities
    February 3, 2020
    Atlantic Power Corporation (NYSE: AT) (TSX: ATP) ("Atlantic Power" or the "Company") announced that on January 31, 2020, it executed an amendment to its credit facilities, consisting of the $380 million senior secured term loan ("Term Loan") and the $200 million senior secured revolving credit facility ("Revolver"). Both the Term Loan and the Revolver are at the Company's APLP Holdings Limited Partnership ("APLP Holdings") subsidiary.
  • Ultimate Finance Launches Structured Finance Proposition
    February 3, 2020
    Specialist asset-based lender, Ultimate Finance, is today announcing the launch of its Structured Finance proposition providing a streamlined solution for UK businesses to release working capital and invest in their growth. Structured Finance from Ultimate Finance will enable introducers to connect their clients to tailored, multi-asset funding solutions of between £350k and £5 million against several assets simultaneously, such as unpaid invoices, plant and machinery, and property.
  • Mount Logan Capital Inc. Renews Financing Facility
    February 3, 2020
    Mount Logan Capital Inc. (NEO:MLC) (“Mount Logan” or the “Company”) is pleased to announce that it and its wholly-owned subsidiary Great Lakes Senior MLC I LLC (“MLC Subsidiary”) have entered into an amendment (the “First Amendment”) to its existing facility and security agreement (the “Facility Agreement”) with a subsidiary of Global Atlantic Financial Group, as initial lender, those persons who from time to time become lenders pursuant to the Facility Agreement (collectively, the “Lenders”), as lenders, and U.S. Bank National Association, as administrative agent, custodian, collateral agent and collateral administrator.
  • TPG Specialty Lending, Inc. Increases and Extends Its Revolving Credit Facility
    February 3, 2020
    The Facility was led by SunTrust Robinson Humphrey, JPMorgan Chase Bank, N.A. and MUFG Union Bank, N.A. as joint lead arrangers and includes a total of 20 bank participants. The accordion feature, which would allow the Company, under certain circumstances, to upsize the Facility has also increased from a maximum of $1.50 billion to $1.75 billion. Pricing and advance rates under the Facility remain unchanged.
  • Finacity Arranges $105 Million Receivables Securitization for Black Box Corporation
    February 3, 2020
    The securitization program comprises multiple tranches and allows up to $90 million in senior funding by Fifth Third Bank, National Association. In addition, Greensill has provided a $15 million subordinated facility to further enhance the company’s liquidity. The securitization program achieved accounting derecognition per both IFRS and US GAAP.
  • Anthony Saitta Joins FTI Consulting to Lead Executive Compensation & Corporate Governance Practice
    January 30, 2020
    FTI Consulting, Inc. (NYSE: FCN) today announced that Anthony Saitta has joined its Real Estate Solutions industry group as a Managing Director and will lead the Executive Compensation & Corporate Governance practice.
  • Wintrust Financial Corporation Announces Executive Officer Promotions
    January 30, 2020
    Edward J. Wehmer will become Founder and Chief Executive Officer. Wehmer currently serves as President and Chief Executive Officer. David A. Dykstra will become Vice Chairman, Chief Operating Officer, Wintrust Financial Corporation. Dykstra currently serves as Senior Executive Vice President, Chief Operating Officer.
  • Gordon Brothers Announces Expanded Role for Managing Director
    January 30, 2020
    Gordon Brothers, the global advisory, restructuring, and investment firm, announced the expansion of Managing Director Rick Wilichowski’s role to include oversight of the Valuations Division’s Equipment Finance, Asset Management, and Mobile Modular sales functions.
  • Seven Aces Limited Announces New US$165 Million Credit Facility and Acquisition of Additional Gaming Contracts
    January 30, 2020
    KeyBank National Association and KeyBanc Capital Markets Inc. (together, "KeyBank") are acting as a joint lead arranger and a joint bookrunner, and as administrative agent and collateral agent under the Credit Facility.
  • Wings Capital Partners LLC Announces Closing of $125,000,000 Term Loan
    January 30, 2020
    Wings Capital Partners LLC (“Wings”) announced the successful closing of a secured term loan collateralized by a 777-200LRF on lease to Korean Airlines. The three-tranche financing has a maturity coterminous with the lease tenor and was provided by a syndicate of financial institutions including Barings, Nord LB, Bayern LB, and Investec.
  • Griffon Corporation Announces New Credit Facility
    January 30, 2020
    Bank of America acts as administrative agent under the New Credit Facility, which provides for revolver borrowings in an aggregate principal amount of up to $400 million, and contains a $100 million letter of credit sub-facility (increased from $50 million), and a $200 million foreign currency sub-facility (increased from $100 million). The New Credit Facility also has a $100 million accordion feature (increased from $50 million), exercisable if new or existing lenders agree to provide or increase their commitments.
  • SunOpta Enters Into an Extension of Its $360 Million Revolving Asset-Based Credit Facility
    January 30, 2020
    The credit facility contains customary covenants and borrowing availability requirements. The facility is provided by a syndicate of banks, including Bank of America, N.A., Rabobank Nederland, Canadian Branch, Bank of Montreal, JP Morgan Chase Bank, N.A., and Wells Fargo Bank, National Association.
  • Anglo Pacific Group PLC Announces Extension of Borrowing Facility to $90M + $30M
    January 29, 2020
    Anglo Pacific Group PLC Upsizing and extension of borrowing facility to US$90 million plus US$30 million accordion. Anglo Pacific Group PLC ("Anglo Pacific", the "Company") (APF.L)(APY.TO) is pleased to announce that it has agreed a US$30m increase to its Revolving Credit Facility ("RCF"), along with extending the term by twelve months to September 2022.
  • Seven Aces Limited Announces New US$165 Million Credit Facility and Acquisition of Additional Gaming Contracts
    January 29, 2020
    KeyBank National Association and KeyBanc Capital Markets Inc. (together, "KeyBank") are acting as a joint lead arranger and a joint bookrunner, and as administrative agent and collateral agent under the Credit Facility. The proceeds of the Credit Facility will be used to finance the acquisition of gaming contracts and associated skill-based digital gaming terminals from Shivbhakti, Inc. ("Game Vendor"), refinance Lucky Bucks' existing indebtedness, fund certain fees and expenses associated with the closing of the Credit Facility
  • CrowdOut Capital Provides Term Loan and Growth Facility to Wild Wing Cafe
    January 29, 2020
    CrowdOut Capital LLC, a pioneering non-bank lender for middle-market companies, today announced the completion of a term loan and a delayed draw growth facility to Wild Wing Cafe. Founded in Hilton Head, Wild Wing Cafe owns and operates a successful restaurant franchise with 44 system-wide restaurants (16 corporate, 28 franchised) across nine states, predominately across the Southeast.
  • CIFC Strengthens High Yield Capabilities With Experienced Team Led by Jason Horowitz as Head of U.S. High Yield Bond Investments
    January 29, 2020
    CIFC LLC (“CIFC”), a leading alternative credit specialist serving institutional investors globally, today announced that it has appointed Jason Horowitz as Head of U.S. High Yield Bond Investments to lead the expansion of CIFC’s high yield investment business. In this new role, Mr. Horowitz is supported by seasoned high yield investment professionals, Managing Director Brandon Hole and Executive Director Eric Seiden. Mssrs. Horowitz, Hole and Seiden join CIFC from Millennium Management and are based in New York.
  • Comtech Telecommunications Corp. to Acquire Gilat Satellite Networks for $532.5 Million in a Strategic and Cash Accretive Transaction
    January 29, 2020
    Comtech expects to fund the acquisition and related transaction costs by redeploying a portion of the $100.0 million of pro forma combined cash and cash equivalents plus additional cash expected to be generated prior to closing, and by drawing on a new $800.0 million secured credit facility to be provided by Citibank, N.A., Manufacturers and Traders Trust Company (“M&T Bank”), Santander Bank, N.A., BMO Harris Bank, N.A. (“Bank of Montreal”), Regions Bank, Israel Discount Bank of New York and Goldman Sachs Bank USA.
  • SG Credit Partners Provides $4.0 Million to Midwestern Mechanical Contractor
    January 29, 2020
    SG Credit Partners teamed up with CapitalPlus Construction Services to provide a $13.0 MM structured factoring facility based on the Company’s strong ownership group, diversified customer base, and leverage profile.
  • TAB Bank Expands West Coast Presence With the Launch of a Los Angeles Loan Production Office (LPO)
    January 29, 2020
    TAB Bank announced today the launch of a Los Angeles Loan Production Office (LPO) to better serve its new and existing clients in the Western Region. TAB Bank has promoted Brett Horwitz to Managing Director and Head of Originations-Western Region and promoted Traci Crabtree to serve as Western Regional Underwriting Manager.
  • Luis Massiani Promoted to President of Sterling National Bank
    January 29, 2020
    Sterling Bancorp (NYSE: STL) today announced the promotion of Luis Massiani to President of Sterling National Bank. In addition to maintaining his role as Chief Financial Officer of Sterling Bancorp and Sterling National Bank, Mr. Massiani will lead all finance, bank operations and consumer banking functions.
  • White Oak ABL, LLC Provides $75MM Asset-Based Credit Facility to Hunt & Sons, Inc.
    January 29, 2020
    White Oak ABL, LLC ("White Oak"), an affiliate of White Oak Global Advisors, announced today it closed a $75MM asset-based credit facility with Hunt & Sons, Inc., a third-generation, family-owned diversified petroleum products distributor.
  • Hedaya Capital Group Announces the Completion of a $750,000 Factoring Facility for a Candle Company; Manufacturing in the United States
    January 29, 2020
    The Hedaya Capital Group, Inc. is pleased to announce a $750,000 factoring facility for a candle manufacturer based in the mid-west. The Company manufactures and wholesales: tealight, votive, pillar, taper, dinner, and filled candle products and distributes them to online, specialty, and retail store chains throughout the United States.
  • Oxford Finance Closes Credit Facility with Impact Advisors
    January 28, 2020
    Oxford Finance LLC (“Oxford”), a specialty finance firm that provides senior debt to life sciences and healthcare services companies worldwide, today announced the closing of a senior credit facility to Impact Advisors (“the Company”), a leading provider of clinical, revenue cycle and information technology advisory services to the healthcare industry. Concurrently, the Company entered into a strategic partnership with Chicago Pacific Founders (“CPF”), an investment firm exclusively focused on healthcare services and caring for aging populations. Oxford is the sole lead arranger and administrative agent in this transaction.
  • Leading M&A Lawyer Adel Aslani-Far Joins Greenberg Traurig in New York
    January 28, 2020
    M. Adel Aslani-Far, widely recognized as one of the United States’ leading public company mergers and acquisitions attorneys, has joined the New York office of Greenberg Traurig, LLP as a shareholder in the firm’s Global Corporate Practice. Aslani-Far joins from Latham & Watkins LLP, where he was a partner and former global co-chair of the firm’s Mergers & Acquisitions Practice.
  • Stephano Slack Builds Accounting and Auditing Practice with New Hire
    January 28, 2020
    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.
  • Teekay Tankers Announces Asset Sales and New Debt Facility
    January 28, 2020
    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 Announces New $250 Million Revolving Credit Facility
    January 28, 2020
    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.
  • International Seaways Announces Refinancing and Closing of New Senior Secured Credit Facilities
    January 28, 2020
    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.
  • MCG Finances $325 Million for a Fashion Firm Based in NYC
    January 28, 2020
    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 Announces Financing Agreements
    January 28, 2020
    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.
  • Expected Surge in Chinese Company Defaults Will Spur Restructuring Demand as Funds Gear up to Swoop on Distressed Assets, Says A&M advisor
    January 28, 2020
    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
  • KeyBank Appoints Matthew Hummel Commercial Banking Team Leader
    January 28, 2020
    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 Announces New Credit Facility to Support Unprecedented Growth Français
    January 28, 2020
    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 Enters into a US$30 Million Credit Facility with Natixis
    January 28, 2020
    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 Closes $1,500,000 Credit Facility for Wholesaler
    January 27, 2020
    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 Announces Amendment to Senior Secured Term Loan
    January 27, 2020
    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.
  • Joel Flig Announces the Formation of Mountainside Capital LLC
    January 27, 2020
    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 Leads Financing for Construction of Logistics Center Near JFK Airport
    January 27, 2020
    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.
  • Nicolet National Bank Announces Central Wisconsin Expansion
    January 27, 2020
    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.
  • Synovus Closed $130+ Million in ABL Transactions in the Second Half of 2019
    January 27, 2020
    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 Announces Executive Officer Promotions
    January 27, 2020
    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.
  • Coastal Community Bank Announces Addition of Chief Risk Officer
    January 27, 2020
    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. Restructuring Plan Confirmed by Court
    January 27, 2020
    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 Secures $2.5 Million Credit Facility From European Equity Group
    January 27, 2020
    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).
  • M&A Outlook: Still a Sellers’ Market, But Urgency Recedes as Growth Continues
    January 27, 2020
    Business leaders surveyed by Citizens Commercial Banking are feeling less urgency to engage in mergers and acquisitions, but sellers with standout businesses can still expect a relatively strong year. Survey respondents see companies relying more on organic growth, fewer sellers in the queue and continued discipline among buyers in 2020. Expect lower deal volumes, more strategic carve-outs and bolt-ons, and stable-to-higher valuations, according to the survey of nearly 600 executives.
  • Blank Rome Welcomes New Corporate Associate in Los Angeles
    January 27, 2020
    Blank Rome LLP is pleased to announce that Jose A. Manalo Jr. has joined the Firm’s Los Angeles office as an associate in the Corporate, M&A, and Securities group, which recently welcomed leading corporate and finance partner Craig R. Culbertson in the Chicago office.
  • Key Energy Services Announces Restructuring Support Agreement
    January 27, 2020
    Key Energy Services, Inc. (“Key” or the “Company”) announced today that it has entered into a Restructuring Support Agreement (including the exhibit thereto, the “RSA”) with lenders under its term loan facility collectively holding over 99.5% (the “Supporting Term Lenders”) of the principal amount of the Company’s outstanding term loans.
  • Amerisource Hires Industry Veteran Doug Forbes to Aid Expansion of ABL Product Line
    January 27, 2020
    Mr. Forbes will serve as a Regional Market Manager out of Houston and will be responsible for new business development throughout Texas and Louisiana. He joins Amerisource as an accomplished industry professional, with over 30 years sales and credit experience in asset-based lending. His previous work experience includes marketing for MidCap Business Credit and Frost Capital.
  • Wynnchurch Capital Closes on Fund V at $2.277 Billion
    January 23, 2020
    Wynnchurch Capital, L.P., a leading middle market private equity firm, announced the closing of its fifth private equity fund, Wynnchurch Capital Partners V, L.P at $2.277 billion of committed capital. Law firm Ropes & Gray, LLP represented Wynnchurch Capital. The Private Fund Group of Credit Suisse Securities (USA) LLC served in an advisory capacity with respect to the private placement.
  • Stephano Slack Promotes Long-time Employee to Partner
    January 23, 2020
    Stephano Slack, LLC, a leading regional accounting and consulting firm, recently announced the promotion of Jay Brooks from Senior Manager to Partner in the firm’s Accounting and Auditing department, effective December 1, 2019. He began work with the firm as an intern in 2008 and has held positions of increasing responsibility.
  • Pinnacle Bankshares Corporation and Virginia Bank Bankshares, Inc. Announce Strategic Merger
    January 23, 2020
    Bank Street Partners, a Performance Trust Company is acting as financial advisor to Pinnacle and Troutman Sanders LLP is acting as its legal advisor in the transaction. Janney Montgomery Scott LLC is acting as financial advisor to Virginia Bank and Williams Mullen is acting as its legal advisor in the transaction.
  • Fairway Market Secures Financing For Voluntary Chapter 11 To Facilitate Sale Of Assets
    January 23, 2020
    Enters Into Asset Purchase Agreement to Sell 5 New York City Stores and Distribution Center, Subject to Court Supervised Auction Process. Stores to Remain Open Across The Tri-State Area During the Court Process with No Service Interruptions Expected. Fairway Market's legal counsel is Weil, Gotshal & Manges, LLP, its M&A investment banker is PJ Solomon and its financial advisors are Mackinac Partners. The Ad Hoc Group of senior lenders are represented by King & Spalding, LLP.
  • Cresco Labs Announces Signing of Senior Secured Credit Agreement
    January 23, 2020
    Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco” or the “Company”), one of the largest vertically integrated multistate cannabis operators in the United States, announced today that it has entered into a non-brokered credit agreement (the “Credit Agreement”) for a senior secured term loan (the “Senior Loan”) in an initial aggregate principal amount of up to US$100 million, with a mutual option to increase the size of the facility to a maximum of US$200 million.
  • Trucking Industry Has Cause For Optimism Despite Challenges, Insiders Say
    January 23, 2020
    "Cautiously optimistic" was a common thread during the Highway Transportation Session at the National Industrial Transportation League's 2020 Summit. The NITL 2020 panel discussion Tuesday featured executives from trucking and logistics companies discussing issues such as contract rates, trucking capacity, truck parking, driver retention, delivery demands and hours-of-service regulations.
  • Thompson Hine Elects New Partners
    January 23, 2020
    Thompson Hine LLP has elected nine new partners, effective January 1, 2020. The new partners, located across four of the firm’s offices, represent a broad range of practice areas, including Business Litigation, Business Restructuring, Creditors’ Rights & Bankruptcy, Commercial & Public Finance, Corporate Transactions & Securities, Government Contracts, Privacy & Cybersecurity and Real Estate.
  • Ares Management Appoints Naseem Sagati Aghili as General Counsel; Michael Weiner Appointed as Head of Public Policy & Legislative Affairs
    January 23, 2020
    Ares Management Corporation (NYSE: ARES) (“Ares”) announced today that Naseem Sagati Aghili has been appointed to the role of General Counsel and Secretary of Ares, effective January 1, 2020. Ms. Sagati Aghili had served as Co-General Counsel of Ares since 2019 alongside Michael Weiner, who has been appointed as Head of Public Policy & Legislative Affairs.
  • Crescent European Specialty Lending Announces Unitranche Financing for Acquisition of Highcare by Bencis
    January 23, 2020
    Crescent Capital Group LP, a leading alternative credit investment firm, announced today that its European Specialty Lending strategy has provided unitranche financing to support the acquisition of Highcare by Bencis. Crescent has also provided an acquisition facility to support Highcare’s ongoing buy and build strategy. Terms of the financing were not disclosed.
  • Stenn Closes Six Figure Receivables Finance Program for Photography Accessories Importer in USA
    January 23, 2020
    Stenn International has closed a six-figure trade receivables finance program for a trading company based in New York that sources photographic paper from Canada. This new financing program is being used to free up working capital to support sales expansion.
  • Bank of America Business Capital Announces New Region Marketing Managers
    January 22, 2020
    Bank of America Business Capital is pleased to announce three new region marketing managers: Bobby Bans in the western region; Peter Langburd in the eastern region; and Steve Pomerantz in the central region. Each will oversee a team of business development officers, who provide asset-based lending solutions and banking products to large and middle market companies, intermediaries and financial sponsors in the United States, Canada and across Europe.
  • Crescita Secures Line of Credit with the Royal Bank of Canada Following Repayment in Full of Knight Therapeutics Loan
    January 22, 2020
    Crescita Therapeutics Inc. (TSX: CTX) (OTC US: CRRTF) ("Crescita" or the "Company"), a commercial dermatology company with manufacturing capabilities and a portfolio of non-prescription skincare products and prescription drug products for the treatment and care of skin conditions, diseases and their symptoms, today announced that it has secured a $3.5 million revolving demand operating credit facility (the "Facility") with the Royal Bank of Canada ("RBC") following the repayment in full of its outstanding long-term debt of $3.6 million owed to Knight Therapeutics Inc.
  • Hilco Valuation Services Europe Hires Real Estate Veteran Edward Jeffery
    January 22, 2020
    Hilco Valuation Services Europe and Real Estate Advisory Services UK and Europe are pleased to announce the appointment of Edward Jeffery as Associate Director of the Real Estate Advisory Services department. Mr. Jeffery has over 20 years' experience in valuation, restructuring and insolvency matters across a broad spectrum of real estate classes providing advice to lenders, restructuring and insolvency practitioners and corporates.
  • NXT Capital Provides Credit Facility for Cortec Group’s Recapitalization of Enthusiast Auto Holdings
    January 22, 2020
    Enthusiast Auto Holdings (“EAH”) is a rapidly growing e-commerce platform serving automotive enthusiasts, delivering exceptional high-touch customer service, content creation, new product development, and fulfillment capabilities.
  • Winter Harbor Appoints New Managing Director and Manager
    January 22, 2020
    Winter Harbor LLC is pleased to announce the promotion of Jeff Horine to managing director and Nicholas Vara to manager. Shaun Martin, managing partner and founder of Winter Harbor comments, “Our directive is to meet the evolving demands of our clients, while maintaining a high-level of professionalism. Having Jeff and Nicholas step into their new roles at Winter Harbor allows us to continue to provide comprehensive solutions to our clients and their constituents.”
  • Bibby Financial Services North America Kicks Off 2020 with Funding to New Clients
    January 22, 2020
    Bibby Financial Services (BFS) North America extended a $2M ABL line to a manufacturing company. The client is a manufacturer of single and multiple-part continuous computer paper and custom business forms.
  • Siena Lending Group LLC Announces The Closing of $76 Million in New Credit Facilities During the Fourth Quarter of 2019
    January 22, 2020
    Siena Lending Group LLC (“Siena”) announces the completion of seven new transactions exceeding $75 million in credit facilities during the fourth quarter of 2019. Siena’s new healthcare finance business closed two of those transactions.
  • Commercial Finance Partners Announces Record 2019 for SBA Loan Origination
    January 22, 2020
    Commercial Finance Partners is pleased to announce that is set a new record in 2019 by facilitating over $117,000,000 in new SBA loans for 2019.
  • Axiom Bank N.A. Appoints Susan Maurer as SVP, Market Executive
    January 22, 2020
    Axiom Bank N.A., a Maitland-based, leading community bank, recently named Susan Maurer as SVP, Market Executive. In this role, Maurer will develop relationships with Axiom’s commercial partners and create opportunities for growth in the Tampa Bay area.
  • A&M’s Global Transaction Advisory Group Appoints Jonathan Nus as a Managing Director with Its Capital Markets and Accounting Advisory Group
    January 22, 2020
    Leading professional services firm Alvarez & Marsal (A&M) announced the appointment of Jonathan Nus as a Managing Director in its Global Transaction Advisory Group (TAG) in New York. Mr. Nus is the latest U.S.-based hire as part of TAG’s significant talent expansion over the last year. As part of TAG’s Capital Markets and Accounting Advisory group, Mr. Nus will advise clients on complex, technical accounting and reporting matters and capital markets transactions. His appointment demonstrates A&M’s continued commitment to servicing evolving client needs.
  • BMO Harris Bank Announces Two New Vice Chair Roles
    January 22, 2020
    BMO Harris Bank announced today the hiring of two Vice Chairs, Eric Smith and Michael Morton. Both Morton and Smith will report directly to David Casper, U.S. CEO, BMO Financial Group. Both Morton and Smith will be actively focused on business development, working with customers and all of our constituencies across BMO's lines of business, while also enhancing BMO's brand, market presence and customer experience.
  • Demica Closes $30 Million Financing Round to Accelerate Investment in New Platform Features and Functionality
    January 22, 2020
    Today Demica, one of the world’s largest working capital Fintechs, announced that it has successfully closed a US$30 million Series C financing round led by Simcah Management LLC.
  • Maxim Commercial Capital Funded 664 Transactions in 2019
    January 22, 2020
    Maxim Commercial Capital (“Maxim”) announced today it finished 2019 with the busiest December in the company’s eleven-year history and funded 664 loans to small and mid-sized businesses (“SMBs”) during the year. Maxim lends $10,000 to $3,000,000 secured by heavy equipment and real estate to facilitate asset purchases, enhance working capital and to refinance expensive short term debt.
  • SMB Compass Announces $5 Million Asset-Based Revolver for Specialty Pharmacy
    January 22, 2020
    This transaction took 72 days from start to finish and included coordination with an incumbent bank, suppliers, field auditors, attorneys, accountants, and software providers. SMB Compass replaced a multi-year banking relationship with a growth facility that will enable its client to expand into new markets, hire additional employees, and achieve their revenue targets. Gemino Healthcare Finance provided the client with certainty of execution, and ultimately delivered.
  • Greystone Adds Donika Schnell as Senior Healthcare Relationship Manager in Los Angeles
    January 21, 2020
    Greystone, a leading national commercial real estate lending, investment, and advisory company, announced that Donika Schnell has joined as a Managing Director based in Los Angeles, California. In her role at Greystone, Ms. Schnell will be working closely with healthcare facility owners to provide them with debt and other capital solutions, including bridge financing, FHA loans, Agency loans and JV equity.
  • BHI Food & Beverage Group Provides Financing for White Toque
    January 21, 2020
    BHI, a full-service commercial bank, announced that its Food & Beverage Group has arranged a $16.5 million credit facility for White Toque, a leading importer and distributor of European specialty fine foods. With this financing, BHI’s new F&B Group, which launched last year, originated over $100 million in credit facilities across various F&B categories in 2019.
  • McDermott International, Inc. Announces Comprehensive Prepackaged Restructuring Transaction to De-Lever Balance Sheet and Immediately Position Company for Long-Term Growth
    January 21, 2020
    The restructuring transaction will be implemented through a prepackaged Chapter 11 process that will be financed by a debtor-in-possession ("DIP") financing facility of $2.81 billion.
  • CIT Leads Financing for Clearway Solar Energy Portfolio
    January 21, 2020
    The financing was arranged on behalf of Clearway Energy Group, one of the largest developers and operators of clean energy generation facilities in the U.S. The portfolio consists of 76 megawatts of generation capacity across 21 projects located in Illinois, Massachusetts, Minnesota and New York State.
  • Bladex Leads Successful Syndication of a US$110 Million 7-Year Senior Secured Amortizing Term Loan for Favorita (Ecuador)
    January 21, 2020
    Banco Latinoamericano de Comercio Exterior, S.A. ("Bladex" or "the Bank";NYSE: BLX) announced the closing of a US$110 million, seven year, syndicated loan in favor of Favorita Fruit Co. Ltd. ("Favorita"), a leading Ecuadorian agribusiness conglomerate with diversified business activities including bananas, dairy, and fertilizers. Bladex acted as Sole Lead Arranger and Bookrunner of the transaction and will be acting as the Administrative and Collateral Agent.
  • JPMorgan Targets Mid-size Companies in Japan Expansion
    January 21, 2020
    The bank said it hired Shotaro Akita to lead the CCBSI group and also the commercial bank in Japan. Working with Akita are Toshiyuki Okuyama and Masato Sato, who will serve as senior bankers on the team, and Hideki Hiramatsu, who will handle treasury services. Hiramatsu joins JPMorgan from Standard Chartered Bank’s Tokyo Branch. Okuyama and Sato join the group from other positions within JPMorgan
  • Portage Point Continues to Expand Performance Improvement & Restructuring Practice
    January 21, 2020
    Portage Point Partners, LLC ("Portage Point"), a business advisory and interim management firm that partners with companies and their stakeholders to navigate complexity, transition and underperformance, announced today that it has recently added Jeff Gasbarra and Alyssa Lozynski. These additions provide further depth to support Portage Point's growing client base and closely follow the hiring of Joseph Shannon and Charles Wiltgen.
  • LBC Small Cap Supports the Acquisition of TalentSmart, Inc.
    January 21, 2020
    LBC Small Cap, an affiliate of LBC Credit Partners, provided senior secured credit facilities and an equity co-investment to support the acquisition of TalentSmart, Inc. by Seaside Equity Partners. LBC Small Cap served as Agent and Sole Lead Arranger for the senior secured credit facilities.
  • Abacus Finance Provides Senior Debt Financing to Support the Recapitalization of Custom Wheel House, LLC by Thompson Street Capital Partners
    January 21, 2020
    Abacus Finance Group, LLC, a leading provider of cash flow-based, classic senior debt for sponsor-led buyouts of companies with $3 million to $15 million in EBITDA, today announced that it served as Administrative Agent and Sole Lender for senior secured credit facilities to support the recapitalization of Custom Wheel House, LLC (CWH) by Thompson Street Capital Partners. Abacus also made an equity co-investment in CWH.
  • BlackArch Partners Announces Promotion of P.J. Martin and Ches Riley to Managing Director
    January 21, 2020
    BlackArch Partners, a leading middle-market investment bank, is pleased to announce that P.J. Martin and Ches Riley have been promoted to Managing Director. Mr. Martin joined BlackArch in 2014 and has over fourteen years of experience executing middle-market investment banking transactions, with a particular focus on the industrials sector.
  • MUFG Grows Leveraged Finance Business with Hire of Timothy Fischer as Head of U.S. Sales
    January 21, 2020
    Based in New York, Mr. Fischer will begin on January 21 and report to John Karabelas, MUFG's Head of Institutional Investor Sales in the Americas. In this newly created role, Mr. Fischer will be responsible for leading distribution of leveraged loans and high-yield bonds in partnership with the bank's Capital Markets team.
  • Aramark Announces Refinancing of 2024 Debt Maturity
    January 21, 2020
    Aramark (NYSE:ARMK), a $16 billion global leader in food, facilities management and uniforms, announced today the successful closing of a $900 million debt refinancing. As part of this transaction, Aramark raised secured term loans to redeem the Company’s 2024 Senior Notes.
  • What to Watch in U.S. Corporate Credit Markets This Week
    January 20, 2020
    A torrent of new U.S. corporate bond offerings await investors this week and the door seems wide open for risky deals. In the U.S. corporate high-yield and leveraged loan markets, last week’s blowout debt sales for the buyout of Presidio Inc. could pave the way for more bonds and loans financing private equity deals.
  • BBVA USA Promotes Luis Ramirez to Corporate Banking Manager in the Denver Area
    January 20, 2020
    - Ramirez: He is a veteran banker with 21 years of experience in commercial and corporate banking - Responsibilities: He will be tasked with helping area companies enhance operations through trusted advice and financial products - Promotion: Ramirez's hire is part of the bank's focus on growing its commercial team to continue to serve the bustling Colorado business landscape
  • Malvern Bank Announces Appointment of Melissa Quin as V.P., Private Client Regional Manager for Glen Mills/Concordville Office
    January 20, 2020
    Malvern Bank, National Association (the “Bank” or “Malvern”), the wholly owned subsidiary of Malvern Bancorp, Inc. (NASDAQ: MLVF) (the “Company”), announced the appointment of Melissa Quin as Vice President, Private Client Regional Manager for the Bank’s Glen Mills/Concordville office. In this position, she will be responsible for the branch office’s overall operations.
  • Iron Horse Credit Provides a $12,000,000 Stand-Alone Inventory to a Plant Nursery and Distributor
    January 20, 2020
    Iron Horse Credit (IHC) is proud to announce that it has completed a $12,000,000 stand-alone inventory facility to a plant nursery and distributor that primarily sells to home and hardware stores, big box retailers and grocery stores.
  • Winter Harbor Strengthens with Addition of Shawn Smith
    January 20, 2020
    Winter Harbor, a restructuring and turnaround consulting firm, is pleased to announce the addition of Shawn Smith as a senior manager. He has extensive experience with a broad range of matters related to executive, financial, and operations management, and has partnered with clients of various sizes and industries to execute strategic turnaround, restructuring, and merger and acquisition transactions.
  • Rosenthal Provides $1.8 Million Inventory Production Finance Commitment for Outerwear Company
    January 20, 2020
    Rosenthal & Rosenthal, Inc., today announced the completion of a recent $1.8 million purchase order finance commitment to support the production financing requirements of a family owned and operated outerwear company based in Massachusetts.
  • Bryn Mawr Trust Names Lindsay Saling Senior Vice President and Director of Retail Banking
    January 20, 2020
    Lindsay Saling was named senior vice president and Director of Retail Banking. She focuses on the oversight of the institution’s retail delivery channels and servicing of all products and services offered to the customers banking through our retail locations throughout Pennsylvania, New Jersey, and Northern Delaware.
  • AvidXchange Raises $260 Million to Support Continued Growth
    January 20, 2020
    AvidXchange, the leading provider of accounts payable (AP) and payment automation solutions for the middle market, today announced it has raised $260 million in equity capital as part of the company's latest financing round. With contributions from TPG Sixth Street Partners and other leading investors, this brings total funding to more than $800 million over the company's 20-year history.
  • Focus Management Group Welcomes Benjamin Wilson as Consultant
    January 20, 2020
    Focus Management Group (FMG), a nationwide turnaround and restructuring firm, has boosted its team with the addition of Benjamin Wilson. Supporting the Pasadena office from his Arizona home office, Benjamin will serve as a Consultant to complement the firm’s growing demand for its turnaround management and corporate restructuring services.
  • Eastside Announces New $8 Million Inventory Credit Facility
    January 20, 2020
    Eastside Distilling, Inc. (NASDAQ: EAST), today announced it has closed a new asset-based revolving credit facility of up to $8 million in available principal amount with Live Oak Bank backed by the Company's spirits inventory. The Company expects to use this new credit facility to pay off and replace the two existing inventory facilities of $5 million capacity with KFK and TQLA and to fund general working capital.
  • Oz K. Lindley Joins First Business Capital Corp.
    January 16, 2020
    First Business Capital Corp., a division of First Business Financial Services, Inc. (Nasdaq: FBIZ) is pleased to announce that Oz K. Lindley was hired as Vice President – Business Development.
  • Christopher Saldana Joins First Business Capital Corp.
    January 16, 2020
    In his role with First Business Capital Corp., Christopher Saldana is spearheading client acquisition efforts across the Southwestern United States. He has 20 years of experience underwriting asset-based lending facilities for companies across the country, with expertise in private equity businesses, multi-generational family owned businesses, and turnaround situations for companies experiencing challenges.
  • Expansion Capital Group Names Brittney Newell Chief Financial Officer
    January 16, 2020
    Expansion Capital Group (ECG) today announced the appointment of Brittney Newell to Chief Financial Officer. Newell will oversee the company's Finance, Accounting, Human Resources, and Underwriting departments. Newell joined the ECG team in early 2015, and has played a critical financial leadership role in the transformation and growth of ECG.
  • Equipment Leasing & Finance Association Appoints Marc L. Hamroff To Its Legal Committee
    January 16, 2020
    The Equipment Leasing & Finance Association (the ELFA) announced the appointment of Marc L. Hamroff, managing partner at Moritt Hock & Hamroff LLP (MH&H), to the ELFA’s Legal Committee. Hamroff’s appointment was effective January 1, and he will serve a three-year term on the committee.
  • Four Veteran Finance and Real Estate Attorneys Join Waller in Birmingham
    January 16, 2020
    Waller Lansden Dortch & Davis, LLP announced today that four prominent Birmingham attorneys – Jesse S. Vogtle, Jr., Randolph H. Lanier, Eric T. Ray and Paul H. Greenwood – have joined Waller's Birmingham office as partners. They previously practiced at Balch & Bingham, LLP.
  • Hilco Global Hires Accomplished Commercial Real Estate Attorney Anne Garr
    January 16, 2020
    Ms. Garr joins Hilco Global ( www.HilcoGlobal.com ) in the newly created position of General Counsel for Hilco Redevelopment Partners (HRP). In this role, she will be responsible for managing the day-to-day legal needs and robust deal flow within the growing HRP organization as well as certain legal assignments on behalf of the holding company. She will report to Eric Kaup, Executive Vice President – General Counsel of Hilco Global.
  • Greenberg Traurig’s Miami Office Adds Attorneys In Litigation and Corporate Practices
    January 16, 2020
    Global law firm Greenberg Traurig, P.A. has expanded its Miami office Litigation Practice and Corporate Practice with the addition of attorneys Humberto H. Ocariz and Jennifer D. Newton.
  • Alvarez & Marsal Announces 2020 Managing Director Promotions
    January 16, 2020
    Leading global professional services firm Alvarez & Marsal (A&M) has announced the promotions of 41 professionals, from the United States, United Kingdom, Germany, Brazil, Canada, China, Russia, Saudi Arabia, the United Arab Emirates and India to the position of Managing Director.
  • Payless ShoeSource Emerges From Chapter 11 Bankruptcy
    January 16, 2020
    Payless ShoeSource has emerged from bankruptcy for the second time, with a focus on international markets. The Topeka, KS-based company said Thursday it wants to reinvigorate its largest business unit, Latin America.
  • MedMen Announces Closing of Secured Term Loan Amendment and Equity Placement
    January 15, 2020
    MedMen Enterprises Inc. (CSE: MMEN) (OTCQX: MMNFF) (“MedMen” or the “Company”), a leading cannabis retailer with operations across the U.S., today announced the execution and closing of definitive documentation for the previously announced amendments to the terms and conditions of the US$78 million senior secured term loan (“October 2018 Loan”) with funds managed by Stable Road Capital and its affiliates (the “Term Loan Lenders”) and the closing of its previously announced US$20 million offering of Class B Subordinate Voting Shares.
  • Williams Industrial Services Group Increases Revolving Credit Facility to $25 Million to Fund Strategic Growth Initiatives
    January 15, 2020
    Williams Industrial Services Group Inc. (OTCQX: WLMS) (“Williams” or the “Company”), a construction and maintenance services company, announced it has successfully amended the terms of its revolving credit facility with Midcap Financial (the “Revolver”), increasing borrowing capacity by $10 million to $25 million and extending the maturity of the facility by one year to October 11, 2022.
  • Exela Technologies Announces Closing of $160 Million Financing
    January 15, 2020
    Exela Technologies, Inc., a location-agnostic global business process automation (BPA) leader across numerous industries, today announced that it has entered into a 5-year, $160 million accounts receivable securitization facility. Guggenheim Securities LLC acted as Exela’s financial advisor.
  • Hahn & Hessen Law Firm Promotes New Partner in the Firm's Business Finance Group
    January 15, 2020
    The New York based law firm of Hahn & Hessen LLP is pleased to announce that Ariele T. Strauss has become a partner in the Firm, effective January 1, 2020. Ms. Strauss was formerly a senior associate with the Firm. She concentrates her practice on secured commercial lending transactions. Her experience stretches across a wide range of domestic and cross-border transactions.
  • Curaleaf Holdings, Inc. Announces Upsizing and Closing of $300 Million Senior Secured Term Loan Facility
    January 15, 2020
    The proceeds will be used to refinance existing debt, satisfy transaction fees and expenses from previously announced acquisitions, fund capital expenditures and for general corporate purposes. The sole placement agent for the Facility is Seaport Global Securities LLC.
  • Terra Firma Capital Corporation Announces the Closing of New Corporate Line of Credit for US$40 Million With Texas Capital Bank
    January 15, 2020
    Terra Firma Capital Corporation (TII.V) ("Terra Firma" or the “Company”), is pleased to announce the closing of a US$40 million secured corporate line of credit (the “LOC”) with Texas Capital Bank (“Texas Capital”). The LOC replaces the previous corporate credit facility the Company had with a Canadian financial institution which was fully repaid in Q4 2019.
  • Orrick Adds Leveraged Finance Advisor in London
    January 15, 2020
    Orrick announced today that leveraged finance and direct lending rising star Anthony Kay has joined the firm as a partner in London. He joins Orrick from Latham & Watkins. Anthony joins an established finance team in London and will work alongside M&A and private equity partners James Connor and Daniel Wayte in growing the firm's private equity practice. James and Dan moved to Orrick in 2018 from Simpson Thacher and Milbank respectively.
  • Imperial Capital Hires Senior Credit Sales Professional, Drew Hall
    January 15, 2020
    Imperial Capital, LLC (“Imperial Capital”), today announced the continued expansion of its High Yield Sales Group with the hiring of Drew Hall, a senior high yield institutional sales professional who will be based in its New York Office.
  • Shoreline Equity Partners Announces Recapitalization of Mr. Greens
    January 15, 2020
    Shoreline Equity Partners, LLC, a purpose-driven lower middle market private equity firm, has partnered with management to recapitalize Florida Veg Investments, LLC. Senior financing for the transaction was provided by NXT Capital and the junior debt financing was provided by Nuveen. SunTrust Robinson Humphrey represented Mr. Greens in the transaction.
  • McLean Wilson Appointed Breakout Capital CEO and President
    January 15, 2020
    Breakout Capital, a leading nationwide small business lender focused on transparent, business-friendly loans and product innovation, announced today the promotion of McLean Wilson from Chief Credit Officer to Chief Executive Officer and President. The industry veteran steps into the role with deep experience in asset-based lending, factoring, asset management, and capital raising for alternative investments.
  • Ares Commercial Finance Provides a $17 Million Credit Facility to Cox Interior, Inc.
    January 15, 2020
    Ares Commercial Finance announced that it has provided a $17.3 million senior secured credit facility to Cox Interior, Inc. comprised of a revolving line of credit and a term loan secured by real estate, machinery and equipment. Proceeds from the financing were used to refinance the company’s debt and to provide for ongoing working capital needs.
  • Tradewind Finance Delivers Credit Facility to Packaging Manufacturer in the UAE
    January 15, 2020
    Tradewind Finance has completed a $1 million non-recourse factoring facility for a packaging manufacturer in the UAE that primarily sells to domestic big names. The company, who produces cardboard boxes and packing tape, is allocating the funding to purchase raw materials for new orders.
  • Oxford Finance Provides $87.5 Million Credit Facility to Tarrytown Expocare
    January 14, 2020
    Oxford is the sole lead arranger and administrative agent in this transaction with Sheridan Capital Partners as the lead equity investor in Tarrytown.
  • Sundance Energy Inc. Announces Increase in Borrowing Base to $210 Million
    January 14, 2020
    Sundance Energy Inc. (NASDAQ: SNDE) (“Sundance” or the “Company”) today announced that the Company’s bank group has completed its scheduled fall borrowing base redetermination under the Company’s senior secured revolving credit facility, resulting in unanimous approval for a borrowing base increase to $210 million with an elected commitment of $190 million presently available, and an increase in the facility’s maximum credit amount to $500 million. The Company also announced TD Securities as the new administrative agent under the revolving credit facility.
  • Fusion Successfully Completes Financial Restructuring
    January 14, 2020
    Fusion, a leading provider of integrated technology solutions, today announced that the Company, along with each of its U.S. subsidiaries, has emerged from Chapter 11 bankruptcy protection, successfully completing its financial restructuring process and implementing its plan of reorganization (the "Plan"), which was confirmed by the U.S. Bankruptcy Court for the Southern District of New York on December 17, 2019.
  • NioCorp Expands Existing Non-Revolving Credit Facility with Executive Chairman Mark Smith to $2.5 Million
    January 14, 2020
    NioCorp Developments Ltd. ("NioCorp" or the "Company") (TSX: NB;OTCQX: NIOBF) is pleased to announce that it has expanded its existing non-revolving credit facility between the Company and its Executive Chairman, Mark Smith, to US$2.5 million from the previous limit of US$2 million.
  • King Trade Capital Provides $2.4 Million Contract Finance Facility for Florida Based Government Contractor
    January 14, 2020
    King Trade Capital is pleased to announce the completion of a $2.4MM purchase-order finance facility for a Florida-based, minority-owned government contractor (the “Client”). A financial consultant, who had previously utilized KTC to finance another government contractor, contacted King Trade Capital to help its current client acquire the capital necessary to fulfill its growing contracts with FEMA.
  • InterNex Capital Announces Recently Completed Transactions
    January 14, 2020
    InterNex Capital announced recently completed transactions powered by Velocity, InterNex’s underwriting and business analytics platform.
  • Gibraltar Provides Responsive Seasonal Solution for Heating Oil Company
    January 14, 2020
    Gibraltar ended its most successful year ever on a strong note, closing a $10 million credit facility for a New York-based heating oil distributor on December 23.
  • Stonebriar Commercial Finance Names Alex Palazzolo Managing Director of Originations
    January 14, 2020
    Stonebriar Commercial Finance announced that Alex Palazzolo has joined the company as Managing Director of Originations. Based in Plano, Texas, Alex will leverage existing and develop new relationships to source fixed asset secured loan and lease opportunities.
  • Business Capital Delivers $5.5 Million Financing for Wedderspoon
    January 13, 2020
    Business Capital structured and delivered a $5.5MM working capital facility for Wedderspoon, the largest seller of Manuka honey and its portfolio of branded products in North America. Sourced almost solely from New Zealand, Manuka is a rare and supercharged version of traditional honey with medicinal and nutritional properties. Coastline Capital, Wedderspoon’s private equity sponsor, brought in Business Capital to arrange financing for its rapidly growing portfolio company.
  • AlixPartners Announces Managing Director Promotions
    January 13, 2020
    Simon Freakley, Chief Executive Officer of AlixPartners, said, "I congratulate our newly promoted Managing Directors on their new leadership roles. These exceptional individuals exemplify AlixPartners’ core values while delivering high impact results for our clients by guiding them through times of unprecedented disruption. I wish them every success in the next phase of their careers at AlixPartners."
  • Capital Southwest Supports Cotton Creek Capital’s Acquisition of Landpoint
    January 13, 2020
    Capital Southwest Corporation (“Capital Southwest”) (CSWC), an internally managed business development company focused on providing flexible financing solutions to support the acquisition and growth of middle market businesses, announced today that it supported Cotton Creek Capital’s (“Cotton Creek”) recent acquisition of Landpoint, LLC and all of the Company’s subsidiaries, which include King Surveyors, LLC and West Company of Midland, LLC (collectively “Landpoint”) with a senior secured first lien term loan. Capital Southwest led the financing and will act as the sole administrative agent on the credit facility.
  • LongueVue Capital Adds Experienced Healthcare Operating Partners to Support New & Existing Investments
    January 13, 2020
    LongueVue Capital Partners ("LVC"), a partnership-driven, operator-centric private equity firm based in New Orleans with approximately $500 million of assets under management, announced today that Geoff Glass and Pete Allen have joined the firm as healthcare Operating Partners. Geoff, a seasoned pharma services executive, will focus on the life science space.
  • Sidley Adds M&A and Private Equity Partner Parthiv Rishi in Singapore
    January 13, 2020
    Sidley Austin LLP is pleased to announce that Parthiv Rishi has joined the firm in Singapore as a partner in its global M&A and Private Equity practice. Mr. Rishi was previously a partner at Linklaters LLP, where he led the firm’s financial sponsor and private equity practice in Southeast Asia.
  • Stubbs Alderton & Markiles, LLP Names Kelly Siobhan Laffey as Senior Counsel
    January 13, 2020
    Stubbs Alderton & Markiles, LLP, Southern California's leading business law firm, proudly announces that it has promoted Kelly Siobhan Laffey, formerly Associate, to Senior Counsel in the firm's corporate practice.
  • XMS Promotions Recognize Outstanding Performance and Contributions
    January 13, 2020
    XMS Capital Partners, LLC (“XMS”), a global, independent financial services firm focused on providing investment banking, asset management and merchant banking services to clients, is pleased to announce the promotions of Brian Brownschidle, Roger Gill and David Lloyd to Managing Director. In addition, Matt Gilbert, Patrick O’Hara and Adam Sullivan have been promoted to Vice President. All six promotions reflect outstanding performance and contributions to executing XMS’s core mission of delivering objective, value-added advice and custom-tailored solutions to help clients achieve their strategic goals.
  • Nuveen Combines its Private Equity and Junior Capital Group with Churchill Asset Management to Create a $21 Billion Private Capital Platform
    January 13, 2020
    Nuveen, a leading global investment manager, is bringing its private equity and junior capital group together with Churchill Asset Management, its award-winning middle-market senior loan and unitranche financing business, to create a direct access platform with over $21 billion in committed capital.
  • XMS Capital Partners Announces Promotions
    January 13, 2020
    XMS Capital Partners, LLC (“XMS”), a global, independent financial services firm focused on providing investment banking, asset management and merchant banking services to clients, is pleased to announce the promotions of Brian Brownschidle, Roger Gill and David Lloyd to Managing Director. In addition, Matt Gilbert, Patrick O’Hara and Adam Sullivan have been promoted to Vice President. All six promotions reflect outstanding performance and contributions to executing XMS’s core mission of delivering objective, value-added advice and custom-tailored solutions to help clients achieve their strategic goals.
  • Easy Ice, LLC has been Acquired by Freeman Spogli & Co. and Management
    January 13, 2020
    Freeman Spogli's legal counsel was Morgan, Lewis and Bockius LLP. Easy Ice was advised by FocalPoint Securities, LLC and its legal counsel was Queen, Saenz + Schutz PLLC. Varagon Capital Partners and Madison Capital provided the debt financing to support the acquisition.
  • TAB Bank Provides Commercial Finance Company in Texas with a $4 Million Rediscount Credit Facility
    January 13, 2020
    TAB Bank is pleased to announce it has provided a $4 million rediscount credit facility for a commercial finance company located in Texas. The company is an entrepreneurial factoring and ABL shop that focuses on construction working capital finance.
  • Antares, Bain Capital Credit and Macquarie Capital Principal Finance Provide $355 Million Unitranche Credit Facility to Crisis Prevention Institute, Inc. to Support Its Acquisition by Wendel
    January 13, 2020
    The Antares Bain Capital Complete Financing Solution ("ABCS"), a joint venture between Antares and Bain Capital Credit, and Macquarie Capital Principal Finance’s Direct Lending business, today announced the closing of a $355 million senior secured unitranche credit facility in acquisition financing to Crisis Prevention Institute, Inc. ("CPI") to support its acquisition by Wendel (MF.FP) on December 23, 2019. Antares, Bain Capital Credit, and Macquarie Capital Principal Finance served as joint lead arrangers on the facility.
  • Gibraltar Welcomes New SVP Randi M. Hershgordon
    January 13, 2020
    Randi has more than 30 years of professional experience serving middle-market companies. She brings to Gibraltar keen underwriting, credit analysis, and risk management skills, combined with a steadfast commitment to delivering personalized service that fosters strong working relationships.
  • Jeff Griffor Joins Avidbank as Senior Vice President to Expand Northeast Presence
    January 13, 2020
    Mr. Griffor joined the Bank as Senior Vice President, Venture Lending and will be based in Boston. He comes to Avidbank with nearly 30 years of experience in diverse roles within commercial finance in the U.S. and Canada, most recently as Managing Director at Hercules Capital where his focus was driving growth in the Technology and Sustainability markets.
  • Amerisource Closes $1,000,000 Credit Facility for Energy Services Company
    January 13, 2020
    Amerisource Business Capital announced the closing and funding of a $1,000,000 revolving credit facility for a wind farm maintenance company based in Colorado. Proceeds of the facility are being used to support working capital.
  • Versant Funding LLC Announces Factoring Facility
    January 13, 2020
    Versant Funding LLC is pleased to announce it has funded a $3,000,000 non-recourse factoring facility to a growing uniform manufacturer based in the Northeast.
  • David Caradine Joins First Business Growth Funding as Director of Risk Management
    January 13, 2020
    David has more than 30 years of experience in commercial finance with an emphasis in factoring and operations management. In his role with First Business Growth Funding, he will direct Portfolio Management and Operations.
  • John Socknat Named Managing Partner of Ballard Spahr’s Washington, D.C. Office
    January 13, 2020
    John Socknat—a financial services attorney with more than 25 years of experience advising clients in the mortgage and consumer financial services industries—has been named Managing Partner for Ballard Spahr’s Washington, D.C., office, firm Chair Mark Stewart announced today.
  • FTI Consulting Promotes 11 Professionals within Corporate Finance & Restructuring to Senior Managing Director
    January 13, 2020
    FTI Consulting, Inc. (NYSE: FCN) today announced the promotion of 11 professionals within the firm’s Corporate Finance & Restructuring segment to Senior Managing Director. The promotions include Anton Chernuousenko, Leonardo Florencio, Heath Gray, Rick Jordon, Christopher Lee, Dustin Olver, Michael Ovalles, Brian Pitkin, Chris Post, Devi Rajani and Abhinav Trehan.
  • Marrone Bio Innovations Announces New $23 Million Accounts-Receivable and Inventory-Backed Credit Facilities
    January 9, 2020
    Pursuant to the terms of the agreement with LSQ Funding Group (“LSQ”), LSQ may elect to purchase up to $20.0 million of eligible customer invoices from the Company, a significant increase from the $7.0 million limit established in 2017. In addition, the Company established a new $3.0 million inventory-backed credit facility with LSQ.
  • ChemoCentryx Announces Credit Facility of Up to $100 Million with Hercules Capital
    January 9, 2020
    ChemoCentryx, Inc., (CCXI) today announced that the Company has secured a credit facility of up to $100 million provided by Hercules Capital, Inc. (HTGC), a leader in customized financing for companies in life sciences and technology-related markets.
  • Ladder Capital Corp Reports Extensions of Committed Funding Facilities and its Revolving Credit Facility
    January 9, 2020
    Ladder Capital Corp (“Ladder” or the “Company”) (NYSE: LADR) today announced that it recently extended the maturity dates of five of its loan repurchase facilities, totaling $1.4 billion of committed funding capacity, its $400 million committed securities repurchase facility, and its $266 million revolving credit facility.
  • Borden Becomes Second Big U.S. Milk Producer to File for Bankruptcy
    January 9, 2020
    Private equity firm ACON Investments LLC and affiliates acquired Borden in 2017 and the company received debt facilities from GSO Capital Partners and PNC Bank, according to a statement at the time. Affiliates of KKR Credit Advisors US LLC and Franklin Square Holdings LP now hold $175 million of Borden debt in the form of a term loan, while PNC holds a $30 million term loan and a $75 million revolving loan
  • Hughes Hubbard Promotes Two to Partnership and Two to Counsel
    January 9, 2020
    Hughes Hubbard & Reed is pleased to announce that effective Jan. 1, Alan Kravitz and Dustin Smith have been promoted to the partnership. The firm also elevated Amina Hassan and Tamara Kraljic to counsel. Kravitz is a member of Hughes Hubbard’s Tax department, and Smith is a member the Corporate Reorganization and Bankruptcy group; both are based in New York. Hassan is a litigator and a member of the Employment and Unfair Competition group, also in Hughes Hubbard’s New York office. Kraljic is a member of the Anti-Corruption and Internal Investigations group and resides in the firm’s Washington, D.C. office.
  • Sea-Vista Announces Refinancing of Credit Facilities, Commencement of New Charters, and Increase in Charter Backlog
    January 9, 2020
    SEA-Vista I LLC, an indirect wholly-owned subsidiary of SEACOR Holdings Inc. , announced today that it entered into an amended and restated $200 million credit agreement, which refinanced its existing credit facilities, with a syndicate of lenders led by JPMorgan Chase. The Agreement provides for a $100 million revolving credit facility and a $100 million term loan facility, both of which mature in December 2024.
  • Aflac Global Investments Announces Strategic Partnership with Varagon Capital Partners, L.P.
    January 9, 2020
    In addition, Aflac Global Investments is making a multi-year commitment to build a portfolio of up to $3.0 billion of middle market loans on behalf of Aflac Japan and Aflac U.S., subject to additional terms and conditions. Rothschild & Co served as financial advisor, and Debevoise & Plimpton as legal advisor, to Aflac Global Investments. Wells Fargo Securities served as financial advisor and Davis Polk & Wardwell served as legal advisor to Varagon.
  • CIT Leads $56 Million Financing for Commercial Shipping Vessels
    January 9, 2020
    CIT Group Inc. (NYSE: CIT) today announced that its Maritime Finance business led the arrangement of $56 million in financing toward the acquisition of two large commercial shipping tankers, which are employed on long-term charters. The financing is part of a transaction involving Advantage Tankers and Fleetscape Capital.
  • Angelo Gordon’s Twin Brook Capital Partners Commits Over $3.3 Billion to Private Equity-backed Healthcare Transactions
    January 9, 2020
    Twin Brook served as lead agent on all the healthcare transactions it supported in 2019, which included 14 new platform financings and 10 add-on financings.
  • Amerisource Closes $2,000,000 Facility for Utility Contractor
    January 9, 2020
    Nic Wagner, Regional Market Manager for Amerisource, stated: “We are pleased to welcome this new client, which was referred to us by their consultant. Closing was achieved in just over two weeks, which allowed the company to continue its operational timeline without delay and without the need for bridge financing. We look forward to our continued partnership.”
  • North Mill Capital Acquires Sage Business Credit Portfolio
    January 8, 2020
    North Mill Capital LLC (NMC) has acquired the portfolio of Sage Business Credit, a Minneapolis, MN-based company. The portfolio will be serviced by NMC's factoring operation in Minneapolis.
  • Old Hill Partners Provides a $5 Million Revolving-to-Term Credit Facility to a Merchant Cash Advance Company
    January 8, 2020
    Old Hill provided a $5 million senior secured revolving-to-term credit facility to a specialty finance company that funds small businesses in the form of merchant cash advances. The facility is secured by a first lien perfected security interest in the advances.
  • Tim Kubiak Named Head of Wells Fargo Rail
    January 8, 2020
    In this new role, Kubiak will lead all functions for Wells Fargo Rail, the largest rail equipment operating lessor in North America with one of the most diverse fleets in the industry. He will be responsible for developing business strategies and overseeing the group’s assets, comprised of more than 175,000 railcars and 1,800 locomotives.
  • Jim D’aquila and Adeel Ahmad Join Lazard’s Middle Market Consumer, Food & Retail Group
    January 8, 2020
    Lazard Ltd (NYSE: LAZ) announced today that Jim D’Aquila has joined Lazard’s Middle Market Consumer, Food & Retail (CFR) group as a Managing Director and Head of Consumer & Retail. Adeel Ahmad has joined the CFR group as a Director. They are both based in Minneapolis.
  • TCF Bank Hires Ed Milefchik as Managing Director of Capital Markets and Market Manager of C&I Banking in Illinois and Wisconsin
    January 8, 2020
    TCF National Bank (TCF Bank), a subsidiary of TCF Financial Corporation (TCF) (NASDAQ: TCF), announced it has named Ed Milefchik as managing director of capital markets and international banking, and market manager of commercial and industrial (C&I) banking in Illinois and Wisconsin. In this blended role, he is responsible for leading capital markets by focusing on buy/sell loan syndications and developing new interest-rate hedging and international banking services.
  • J D Factors Announces Factoring Facilities
    January 8, 2020
  • J D Factors Promotes Tina Capobianco and Matthew Johnson
    January 8, 2020
    Tina Capobianco has been promoted to Senior Vice President. Working out of the Mississauga, Ontario office. Matthew Johnson has been promoted to Vice President.
  • North Mill Capital (NMC) Hires David McFarland as Senior Vice President in its Minneapolis, MN Office
    January 8, 2020
    McFarland will be responsible for handling a portfolio of asset based and factoring clients along with working closely with NMC’s business development team in underwriting new business opportunities. His involvement will be on a national scope.
  • TCF Inventory Finance Names Victor Rivera as Chief Sales Officer
    January 7, 2020
    Rivera brings more than 20 years of banking experience, specializing in commercial, industrial, equipment, retail and transportation finance.
  • Businesses Continue to Bet on Themselves, JPMorgan Chase Survey Finds
    January 7, 2020
    Three out of 4 businesses – 76% of midsize companies and 74% of small ones – are optimistic about their own performance, and the majority expect to grow sales this year (70% of midsize companies and 62% of small ones). They’re leaning into this expected growth through measures including more widespread adoption of new technology and increased hiring.
  • Expansion Capital Group Names Brittney Newell Chief Financial Officer
    January 7, 2020
    Expansion Capital Group (ECG) announced the appointment of Brittney Newell to Chief Financial Officer. Newell will oversee the company's Finance, Accounting, Human Resources, and Underwriting departments. Newell joined the ECG team in early 2015, and has played a critical financial leadership role in the transformation and growth of ECG.
  • B&W Announces Key Step Toward Debt Refinancing
    January 7, 2020
    "This interim amendment is a collaborative first step toward a comprehensive debt refinancing on an accelerated timeframe. With the assistance of B. Riley FBR, Inc. and our existing senior lender syndicate, we expect to further amend our Credit Agreement by January 20, 2020, well in advance of our March 15, 2020 requirement,” said Kenneth Young, B&W Chief Executive Officer.
  • Town Sports International Holdings, Inc. Announces the Acquisition of Flywheel Sports, Inc.’s Studio Business; Secures $50 Million Second Lien Loan
    January 7, 2020
    As part of the acquisition, Kennedy Lewis has agreed to provide seller financing of $25 million in the form of a second lien loan. Kennedy Lewis has also agreed to assist with the refinancing of TSI’s existing term loan, with a follow-on commitment of up to $25 million of additional second lien debt. The closing and follow on commitment is conditioned upon TSI’s ability to reach acceptable terms with its existing term loan lenders. Until the acquisition closes, TSI and Flywheel have agreed to cross-market each other’s products.
  • CBAM Announces Closing of $60 Million Credit Facility
    January 7, 2020
    CBAM Partners today announced the closing of a new $60 million Credit Facility led by RBC Capital Markets as Lead Arranger and Sole Bookrunner with lenders Royal Bank of Canada (RBC) as Administrative Agent and Barclays Bank PLC as Syndication Agent. Proceeds will be used to refinance a working capital facility provided by CBAM's parent, Eldridge Industries, and pursue growth initiatives including expansion into new geographies and seeding new investment strategies.
  • Signature Bank and Prime Trust to Align Their Respective Technologies to Better Serve the Institutional Blockchain Industry
    January 6, 2020
    Signature Bank (Nasdaq: SBNY), a New York-based full-service commercial bank and one of the leading financial institutions serving the blockchain industry, announced today it forged a relationship with Prime Trust, a technology-driven financial institution providing infrastructure solutions for the digital economy.
  • Moritt Hock & Hamroff Announces Partner & Counsel Promotions For 2020
    January 6, 2020
    The law firm of Moritt Hock & Hamroff with offices on Long Island and in Manhattan has announced that Theresa A. Driscoll, Rachel A. Fernbach and Dylan Saperman, formerly counsel of the firm, have been elevated to partner, and that Julia Gavrilov, Jacquelyn J. Moran and Kelly D. Schneid, formerly associates at the firm, have been each elevated to counsel, effective January 1, 2020.
  • Drew McManigle, Founder and Managing Director of MACCO Restructuring Group, LLC, Announces New Offices and Firm Additions
    January 6, 2020
    Drew McManigle, Founder and Managing Director of Houston-based MACCO Restructuring Group, LLC (MACCO), announced the opening of new offices in Wilmington, Delaware and Denver, Colorado together with several notable additions to the firm.
  • Piper Jaffray and Sandler O’Neill Complete Merger to Become Piper Sandler Companies
    January 6, 2020
    Piper Jaffray Companies and Sandler O’Neill + Partners, L.P. today announced the completion of their merger to become Piper Sandler Companies (NYSE: PIPR). The resulting company represents one of the broadest and most capable full-service investment banking platforms on Wall Street complemented by one of the largest securities distribution and trading franchises with market-leading research aligned to serve the middle-market.
  • BNP Paribas Closes Sustainability-Linked RCF with Brookfield Renewable Partners
    January 6, 2020
    BNP Paribas, a premier global banking partner, today announced that it has closed a bi-lateral, incentive-linked corporate revolving credit facility (“RCF”) with Brookfield Renewable Partners L.P. (TSX: BEP.UN; NYSE: BEP), structured as a sustainability-linked loan (“SLL”). This is one of the first SLLs offered in Canada and the first for BNP Paribas in Canada.
  • Tradewind Finance Provides Reverse Factoring Facility to Electronics Company based in Hong Kong
    January 6, 2020
    Tradewind Finance has closed a reverse factoring deal with a Hong Kong-based electronics company whose buyer is located in the United States. The deal marks the addition of a second supplier to the vendor finance program that Tradewind has set up for the US buyer.
  • Signify Signs a new Committed Term Loan Structure and a Revolving Credit Facility to Replace its Existing Financing Facilities
    January 6, 2020
    The existing term loans of approx. EUR 1.2 billion will be replaced with new committed three- and five-year term loans for the same amount. The existing EUR 500 million revolving credit facility will be refinanced for the same amount with a five-year maturity plus two one-year extension options.
  • TAB Bank Named Among Best Factoring Companies for 2020
    January 6, 2020
    TAB Bank is pleased to announce it has received a “Best Factoring Companies” award from Factoring Club for 2020. Every year, Factoring Club selects the top factoring companies in the industry based on contract terms, customer service, and company leadership.
  • Apollo-Backed Security Firm In Talks for Debt Restructuring
    January 6, 2020
    Constellis Holdings LLC, a security contractor backed by Apollo Global Management Inc., is in talks with creditors on a deal to restructure its $1 billion of debt, according to people with knowledge of the discussions.
  • Tom Linebarger Joins 36th Street Capital as SVP, Business Development
    January 6, 2020
    36th Street Capital Partners LLC (“36th Street Capital”), an independent provider of alternative funding solutions for the equipment financing industry, announced the appointment of Thomas Linebarger as Senior Vice President of Business Development.
  • STRATA Skin Sciences, Inc. Announces Successful Completion of Debt Refinancing
    January 6, 2020
    STRATA Skin Sciences, Inc. (SSKN) (“STRATA” or the “Company”), a medical technology company in Dermatology and Plastic Surgery dedicated to developing, commercializing, and marketing innovative products for the treatment of dermatologic conditions, today announced that it has closed a refinancing of its existing debt with a lower interest one-year cash-secured loan facility with Israel Discount Bank of New York, a multi-national commercial bank.
  • Covia Announces Actions Designed to Improve Financial Flexibility
    January 6, 2020
    ovia (NYSE:CVIA), a leading provider of mineral-based material solutions for the Industrial and Energy markets, announced a series of actions that are expected to improve its financial flexibility: $85 Million Committed Standby Credit Facility - The Company has received a commitment from PNC Bank, National Association for a new, 3-year credit facility for up to $85 million.
  • Alimera Sciences Refinances Its Debt Facility With Solar Capital
    January 6, 2020
    Alimera Sciences, Inc. (ALIM) (“Alimera”), a leader in the commercialization and development of prescription ophthalmology treatments for the management of retinal diseases, today announced that it refinanced its debt facility by entering into a new $45 million term loan agreement with its current lenders, investment affiliates managed by Solar Capital Partners, LLC, on December 31, 2019.
  • Pier 1 to Shut More Stores, Cut Debt in Expanded Turnaround
    January 6, 2020
    The company is working with a team of advisers to restructure operations, including Kirkland & Ellis LLP, AlixPartners LLP and Guggenheim Partners LLC. Representatives from those firms declined to comment.
  • Midcoast Energy Completes $830 Million Refinancing
    January 6, 2020
    Midcoast Energy Holdings, a portfolio company of an affiliate of ArcLight Capital Partners, has completed an $830 million refinancing with a consortium of Korean lenders and institutional investors. The refinancing involves a Midcoast Energy subsidiary that indirectly holds a 35% interest in the Texas Express Pipeline, a 594-mile, 20-inch natural gas liquids pipeline which begins in Skellytown, Texas and ends in Mt. Belvieu, Texas. Midcoast Energy will continue to own and control its 35% interest in Texas Express.
  • Otterbourg Promotes Ikhwan Rafeek to Member of the Firm
    January 6, 2020
    Otterbourg P.C. announced today that Ikhwan A. Rafeek has been promoted to Member of the Firm in the Banking and Finance Group, effective January 1. Mr. Rafeek represents institutional lenders, banks, commercial finance companies, and factors in connection with the documentation of domestic and international secured lending arrangements, including asset-based, factoring, term loan, healthcare, real estate, middle market, leveraged, and first and second lien loan transactions. He also frequently represents secured lenders in workouts and restructurings and in portfolio acquisitions and dispositions.
  • AgroFresh Amends and Extends the Revolving Credit Facility
    January 3, 2020
    AgroFresh has entered into an agreement with Bank of Montreal to extend AgroFresh’s existing $12.5 million revolving credit facility to April 1, 2021. The amendment also includes favorable revisions to the senior secured net leverage ratio.
  • Cabot Microelectronics Corporation Announces Refinancing of Term Loan Facility
    January 3, 2020
    Cabot Microelectronics Corporation (Nasdaq: CCMP) today announced that it has amended its credit agreement entered into on November 15, 2018 to reduce the interest rate on borrowings under the agreement’s term loan facility by 25 basis points. The new term loan facility of the amended credit agreement has an aggregate principal amount of $957.0 million and bears interest at a rate per annum equal to, at the company’s option, either (a) a London Inter-bank Offered Rate (“LIBOR”), subject to a 0.00% floor, or (b) a base rate, in each case plus an applicable margin of 2.00% for LIBOR loans and 1.00% for base rate loans.
  • Melinta Therapeutics Announces Restructuring Support Agreement with its Secured Lenders under its Senior Credit Facility
    January 3, 2020
    Melinta Therapeutics, Inc. (NASDAQ: MLNT) (the “Company” or “Melinta”), a commercial-stage company focused on the development and commercialization of novel antibiotics to treat serious bacterial infections, today announced that it has entered into a Restructuring Support Agreement (the “Agreement”) with the lenders under its senior credit facility, Deerfield Private Design Fund III, L.P. and Deerfield Private Design Fund IV, L.P. (the “Supporting Lenders”).
  • BlueLinx Announces Closing of Sale-Leaseback Transactions for $27.2 Million Net Proceeds; Transactions Result in Significant Progress in Ongoing Real Estate Monetization and Deleveraging Initiatives
    January 3, 2020
    BlueLinx Holdings Inc. (NYSE: BXC), a leading distributor of building and industrial products in the United States, today announced that it has completed sale-leaseback transactions for aggregate net cash proceeds of $27.2 million, which were used to repay indebtedness under the Company’s term loan. The transactions closed on December 31, 2019.
  • Air Industries Group announces new $18.9 million credit facility with Sterling National Bank
    January 2, 2020
    Air Industries Group (“Air Industries” or the “Company”), an integrated manufacturer of precision equipment assemblies and components for leading aerospace and defense prime contractors is pleased to announce that on December 31, 2019 it entered into a new 3-year, $19.8 million credit facility, consisting of a $16 million revolving credit line, and a $3.8 million term loan.
  • S&W secures new $35 million working capital facility with CIBC
    January 2, 2020
    S&W Seed Company (Nasdaq: SANW) today announced it has closed a new $35 million asset-based revolving credit facility with CIBC Bank USA ("CIBC").
  • Sunnova closes $150 mn in financing to fund growth
    January 2, 2020
    Sunnova Energy International has announced that it has closed an aggregate USD 150 million in financing through an approximately USD 95 million revolving asset-based loan facility and a private placement of USD 55 million aggregate principal amount of convertible senior notes.
  • B. Riley, Kayne Anderson finance furniture chain acquisition
    January 2, 2020
    A subsidiary of B. Riley Financial Inc. in Woodland Hills and Kayne Anderson Capital Advisors in Los Angeles will provide a $700 million credit facility to finance the buyout of a furniture store chain.
  • The Green Organic Dutchman announces closing of secured credit facility
    January 2, 2020
    The Green Organic Dutchman Holdings Ltd. (the “Company” or “TGOD”) (TSX:TGOD) (US:TGODF), a leading producer of premium certified organic cannabis, is pleased to announce that it has closed the previously announced senior secured first lien credit facility of up to $42.7 million (the “Facility”) with Maynbridge Capital Inc. (the “Lender”).
  • Encina Business Credit, LLC (EBC) provides facility to leading provider of oilfield equipment and services
    January 2, 2020
    Encina Business Credit, LLC (EBC) announced today that it has provided a $10 million senior secured credit facility to a leading provider of oilfield equipment and services.
  • Celtic Capital Corporation today announced its most recent new client relationship
    January 2, 2020
    Celtic Capital Corporation today announced its most recent new client relationship – a California-based distributor of contract manufactured electrical testing devices
  • Advance Auto Parts to buy DieHard brand from Sears for $200 million in cash deal
    December 23, 2019
    Advance Auto Parts is acquiring Sears’ DieHard brand, known for its car batteries, for $200 million in cash, CNBC has learned.
  • Dean Foods Receives Final Court Approval for $850 Million in Debtor-In-Possession Financing
    December 23, 2019
    Dean Foods Company (NYSE: DF) (“Dean Foods” or the “Company”) today announced that the U.S. Bankruptcy Court for the Southern District of Texas has entered a final order granting the Company authority to access the full amount of its $850 million in debtor-in-possession (“DIP”) financing.
  • TAQA secures US$3.5 billion revolving credit facility
    December 23, 2019
    Abu Dhabi National Energy Company, TAQA, announced today that it has secured a US$3.5 billion revolving credit facility.
  • Encina Business Credit Provides $15 Million Facility to a Coal Company
    December 19, 2019
    Encina Business Credit, LLC (EBC) announced today that it has provided a $15 million senior secured credit facility to a coal mining company. The facility consists of a revolving line of credit based on accounts receivable and equipment. Loan proceeds will be used to support working capital and maintenance capex.
  • Bolanos Joins Triumph Business Capital to Head Up Client Experience Team
    December 19, 2019
    Triumph Business Capital, member of the Triumph Bancorp, Inc. group and provider of working capital financing solutions to small- and medium-sized businesses, announced today the hiring of Moises Bolanos as Senior Vice President of Client Experience. Bolanos joins Triumph after nearly four years in a similar role at eCapital, a freight factoring company based in Southern California.
  • Pinnacle Financial Partners Announces De Novo Start in Atlanta With Rob Garcia as Market President
    December 19, 2019
    Cobb County stalwart Rob Garcia joins Pinnacle as the firm’s Atlanta president. Garcia will immediately begin building a team of experienced financial professionals to serve commercial, small business and personal clients. The process is underway to identify a location for the first Pinnacle office in Georgia.
  • NN, Inc. Announces Extension of Senior Credit Facilities and Credit Agreement Amendment
    December 19, 2019
    SunTrust Robinson Humphrey, KeyBank and JP Morgan served as joint lead arrangers on the transaction.
  • Jupiter Receives Additional Extension to Credit Facility
    December 19, 2019
    Jupiter Resources Ltd. and its affiliates (collectively, "Jupiter" or the "Company") have received an additional extension to the maturity date, associated with the Company's existing senior secured reserve-based revolving credit facility (the "RBL Facility"), until January 15, 2020.
  • Alamos Gold Announces Increase in Credit Facility to US$500 Million
    December 19, 2019
    The amended Facility was joint-led by the Bank of Nova Scotia, BMO Capital Markets, and TD Securities. Additionally, the syndicate includes the Canadian Imperial Bank of Commerce, National Bank of Canada, and ING Capital LLC.
  • Vivint Solar Enters Into New Credit Facility
    December 19, 2019
    Vivint Solar announced it closed a $200 million revolving asset-based loan facility. The facility will help fund the company's continued growth in 2020 and beyond by allowing Vivint Solar to finance the purchase of safe harbor equipment and receive attractive advance rates on projects throughout the development life cycle. The lenders include affiliates of Bank of America Securities and Credit Suisse.
  • BRP Group, Inc. Upsizes Senior Revolving Credit Facility to $225 Million, Improves Cost of Capital by 150 Basis Points
    December 19, 2019
    JPMorgan acted as sole bookrunner and lead arranger and will serve as administrative agent and lender under the revolving credit facility, while Wells Fargo, Bank of America, Cadence Bank and Wintrust Financial will serve as additional lenders.
  • Grabit™ Inc. Enters into Restructuring Support Agreement
    December 19, 2019
    BPG, through its financing subsidiary, BPG International Finance Co. LLC, provided a senior secured loan to Grabit in June 2018. The purpose of the loan was to help advance electro-adhesion technologies for customers of both Grabit and BPG.
  • Faegre Baker Daniels and Drinker Biddle & Reath to Combine, Creating a Top 50 Law Firm
    December 18, 2019
    Faegre Baker Daniels and Drinker Biddle & Reath announced the combination of their law firms, following an affirmative vote by the partnerships of both organizations. The combined firm will begin operations as Faegre Drinker Biddle & Reath (Faegre Drinker) on Feb. 1, 2020. Designed for clients, Faegre Drinker will have more than 1,300 attorneys and consultants and 22 offices worldwide.
  • Ropes & Gray Continues to Grow Private Equity Platform in Chicago
    December 18, 2019
    Global law firm Ropes & Gray announced today that Martin Q. “Marty” Ruhaak has joined the firm in Chicago as a partner in the firm’s preeminent private equity transactions practice group.
  • Betty Hernandez of North Mill Capital LLC Elected To Secured Finance Network Executive Committee
    December 18, 2019
    Betty Hernandez, Executive Vice President and CCO of North Mill Capital had been appointed to the Executive Committee of Secured Finance Network (SFNet), an international trade association for organizations and professionals who deliver and enable secured financing. The $4.1 trillion secured finance industry provides seven major types of financing to businesses: asset-based lending, factoring, supply chain finance, equipment finance and leasing, leveraged lending, cash flow lending, and securitization.
  • High Ridge Brands Announces Sales Process
    December 18, 2019
    Files Voluntary Chapter 11 Petitions to Facilitate Transaction; Currently Engaged in Active Discussions with Interested Bidders; Secures Commitment of Approximately $20 Million in Debtor-in-Possession Financing. High Ridge Brands has a portfolio of over thirteen trusted brands, serving primarily North American skin cleansing, hair care and oral care markets, including Zest®, Alberto VO5®, REACH®, Firefly®, Dr. Fresh®, Coast®, White Rain®, LA Looks®, Zero Frizz®, Rave®, Salon Grafix®, Binaca® and Thicker Fuller Hair®.
  • Omni-Lite Industries Announces Successful Refinancing of Its Senior Bank Credit Facility
    December 18, 2019
    Omni-Lite Industries Canada, Inc. (the “Company” or “Omni-Lite Industries”) (TSXV: OML; OTCQX: OLNCF) is pleased to announce today the successful refinancing of its current US$700,000 senior bank credit facility with the entering of a new three-year, US$3.0 million revolving line of credit facility with City National Bank, an RBC Company
  • ING Leads $402 Million Financing of Market Center in San Francisco for Paramount Group Capping a Record Year of Origination Activity in 2019
    December 17, 2019
    ING Capital LLC ("ING") has closed a $402 million financing for Paramount Group, Inc. (NYSE: PGRE) ("Paramount") to fund their acquisition of Market Center, a two- building, 753,000 square foot, Class A office complex located at 555 and 575 Market Street in San Francisco's Financial District. ING acted is the Administrative Agent and Sole Lead Arranger and plans to syndicate the loan in early 2020.
  • Andrew Gordon-Seifert Joins Cleveland Office of McDonald Hopkins as Intellectual Property Associate
    December 17, 2019
    Gordon-Seifert will work with McDonald Hopkins clients on intellectual property litigation matters. The Ohio State University alum spent the last four years at the Akron office of a Columbus, Ohio-based firm, where he handled commercial and antitrust litigation, as well as matters involving trademark, trade secret and copyright issues.
  • Smart Sand, Inc. Announces Long-Term Debt Refinancing Under Combination Equipment Financing and Credit Facility
    December 17, 2019
    Smart Sand, Inc. (NASDAQ: SND) (the “Company”) announced today that it has refinanced its existing Credit Facility into a combination 5-year equipment financing (“Oakdale Equipment Financing”) and a 5-year senior secured asset-based lending credit facility (“ABL Credit Facility”).
  • Cinesite Announces New Investment and Financing of US$112 Million to Enable the Group to Execute its Five-year Strategy
    December 17, 2019
    Cinesite announced today it has secured investment from Gryphion Capital Investments along with new banking facilities from Barclays and NatWest which amount to US$112m. Working together Barclays and NatWest will initially provide Cinesite with up to US$52 million for general funding and revolving credit facilities. The independent studio group has a further US$20m in future flexible facilities to deal with acquisition or expansion. In parallel, Gryphion Capital Investments has taken a minority equity position in the company which will further support Cinesite’s strategy for growth.
  • TCF Financial Corporation Announces Transition Plan for Chief Financial Officer
    December 17, 2019
    TCF Financial Corporation (TCF) (NASDAQ: TCF) today announced that Dennis Klaeser will step down from his role as chief financial officer on October 1, 2020. At that time, Brian Maass, deputy chief financial officer and treasurer, will assume the role of chief financial officer and will report directly to Craig Dahl, president and chief executive officer.
  • Wayland Announces Court Approval of Amended DIP Facility
    December 17, 2019
    The Amended DIP Facility is intended to provide the Wayland Group with financing to continue operations during their CCAA proceeding, to fund necessary capital expenditures that are agreed to by the DIP Lender, with the consent of PricewaterhouseCoopers Inc., in its capacity as monitor of the Wayland Group, and to conduct a sale and investment solicitation process (“SISP”) and consummate any transaction resulting from that process.
  • Bunge Limited Closes its First Sustainability-Linked Revolving Credit Facility
    December 17, 2019
    Australia and New Zealand Banking Group Limited, Bank of China, Bank of Montreal, The Bank of Tokyo-Mitsubishi UFJ, Ltd., Citibank N.A., Rabobank, Crédit Agricole Corporate and Investment Bank, Deutsche Bank AG, Industrial and Commercial Bank of China, Mizuho Bank (USA), Société Générale, Standard Chartered Bank, UniCredit Bank AG, U.S. Bank National Association and Wells Fargo Bank National Association have also acted as Mandated Lead Arrangers and Bookrunners for this transaction.
  • Bridge Bank Extends $4MM Credit Facility to H Code Media, Inc.
    December 17, 2019
    Bridge Bank today announced it has extended a credit facility to H Code Media, Inc., the leading technology platform offering a full suite of integrated marketing and media solutions for the U.S. Hispanic market. The new credit facility will be used to fund working capital needs and support growth initiatives.
  • Stonebriar Commercial Finance Closes a $40 Million Lease Facility
    December 17, 2019
    Stonebriar Commercial Finance announced the closing of a $40 million equipment lease facility with a publicly traded oilfield services provider. The company provides completion, intervention and production services in all the major U.S. onshore oil and gas basins.
  • Monroe Capital Supports FFL Partners’ Anova
    December 17, 2019
    Monroe Capital LLC (“Monroe”) today announced it acted as sole lead arranger and administrative agent on the funding of a senior credit facility to support the merger of Anova and Silicon Controls, an existing portfolio company of FFL Partners.
  • Finance Technology Provider White Clarke Group wins Best Point-of-Sale and Back-Office Innovation Swards
    December 16, 2019
    White Clarke Group is delighted to announce that its CALMS platform has once again earned both the Best Point-of-Sale (POS) and Best Back-Office Innovation Awards at the International Asset Finance Network (IAFN) conference last week in London.
  • Liberty Bank Appoints New Commercial Banking Senior Vice President to Serve the Greater New Haven Region
    December 16, 2019
    Hubbard comes to Liberty Bank as a veteran Connecticut Banker with over 30 years of experience. Most recently, he was the Market President and Commercial Bank Sales Leader for CT and Western MA at KeyBank. For four years, Hubbard supervised KeyBank’s commercial banking business, Specialty Lending, Capital Markets and Financial Services.
  • Focus Management Group Welcomes Andrew Jarvis as Senior Managing Director
    December 16, 2019
    Focus Management Group is excited to announce that Andrew Jarvis has joined our team. Focus Management Group (FMG), a nationwide turnaround and restructuring firm, has enhanced its team with the addition of Andrew Jarvis. Andrew will serve as a Senior Managing Director out of the firm’s new Pasadena, California office and will complement the firm’s growing demand for its turnaround management and corporate restructuring services
  • J.P. Morgan Asset Management Announces Major Private Credit Expansion; Appoints Meg McClellan Head of Private Credit
    December 16, 2019
    J.P. Morgan Asset Management today announced the appointment of Meg McClellan as Head of Private Credit in the firm's Global Alternatives group, effective January 1, 2020, to lead the firm's major expansion in Private Credit.
  • TradeCap Partners Provides $1.4MM ‘Work-In-Process’ Purchase Order Facility to West coast Consumer Goods Company
    December 16, 2019
    TradeCap Partners provided a $1.4MM Purchase Order Facility to a West coast, branded, consumer goods company. The facility was structured to satisfy a seasonal working capital need related to a program with a key customer.
  • North Mill Capital Promotes Jennifer Borg
    December 16, 2019
    Jennifer has been with the Company since 2001. Throughout the years her role at North Mill Capital has evolved and she is currently a senior portfolio manager in our Minneapolis office. She manages a portfolio of ABL and invoiced based accounts and oversees our invoiced based collection team.
  • TAB Bank Provides Transportation Company in Kentucky with a $4 Million Asset-Based Credit Facility
    December 16, 2019
    TAB Bank is pleased to announce it has provided a $4 million asset-based revolving credit facility for a transportation company located in Kentucky. The new facility is extended through a multi-year agreement and will provide for the company’s ongoing working capital needs. In addition to the working capital facility, TAB has also provided $1.2 million in equipment financing for the company.
  • Accenture and Assifact Unveil Trends and Evolution of the FinTech Industry
    December 16, 2019
    The UK strengthens its role as EU leader thanks to a flexible regulatory regime, a supportive government policy and strong interest from investors, according to a new study commissioned by the Italian Factoring Association.
  • Weatherford Successfully Completes Financial Restructuring
    December 16, 2019
    Weatherford International plc today announced that it has completed its financial restructuring and emerged from Chapter 11 protection. The Company emerges with a stronger financial foundation having reduced approximately $6.2 billion of outstanding funded debt, secured $2.6 billion in exit financing facilities, including a $450 million revolving credit facility, secured a $195 million letter of credit facility, and secured over $900 million of liquidity.
  • Kaman Closes on Five Year Amended and Restated Credit Facility
    December 16, 2019
    The facility was brought to market by Joint Bookrunners and Joint Lead Arrangers JPMorgan Chase Bank, N.A; BofA Securities and Citizens Bank, N.A.
  • Sarepta Therapeutics Announces $250 Million of Non-Dilutive Senior Secured Loan Financing
    December 16, 2019
    Sarepta Therapeutics, Inc. (NASDAQ:SRPT), the leader in precision genetic medicine for rare diseases, announced today that it has entered into an agreement with funds managed by Pharmakon Advisors, LP, that provides Sarepta with up to $500 million of borrowing capacity in two tranches.
  • B. Riley Principal Merger Corp. and Alta Equipment Holdings Inc. Announce Business Combination
    December 16, 2019
    Combined Company to Become Leading Publicly-Traded Equipment Dealership Platform. Business Combination Valued at Approximately $550 Million. Significant Opportunity to Consolidate Fragmented Equipment Dealer Market, Including Two Acquisitions by Alta Currently under Non-Binding Letter of Intent Anticipated to Close at Time of Business Combination Closing.
  • Ocrolus Announces Premium Fintech Platform Extension
    December 16, 2019
    Ocrolus, a leading fintech infrastructure company that transforms documents into actionable data with over 99% accuracy, today announced a new premium extension to its core technology platform. At a reception held tonight in New York, the company introduced Ocrolus+, the first turnkey solution for ingesting documents and digital data streams through a single API.
  • Victory Park Capital Appoints John Martin as Senior Advisor
    December 16, 2019
    Former Antares Capital co-CEO and private credit investment specialist bolsters firm’s expertise. Based in Chicago, Martin will support VPC’s private credit strategies, leveraging his thirty years of experience in the investment industry.
  • The Green Organic Dutchman Announces a $41.7 Million Senior Secured Credit Facility
    December 16, 2019
    The Facility consists of a committed $26.7 million senior secured term loan (the "Loan") with an 18-month term and 12 monthly interest only payments followed by 6 monthly payments of principal and interest, with the principal component based on a 15-year amortization, and an additional uncommitted $15.0 million senior secured term loan (the "Accordion Loan"), with terms to be agreed between the Lender and the Company. The interest rate on the Loan will be 13% per annum and the Loan will be secured by a first lien against all assets of the Company and its material subsidiaries.
  • Lithia Motors Amends and Extends Revolving Credit Facility to $2.8 Billion, Completes Senior Notes Offering
    December 16, 2019
    Lithia Motors Inc. (NYSE: LAD), a leading provider of personal transportation solutions, announced today that it completed an amendment and extension of its existing syndicated credit facility, increasing the total financing commitment to $2.8 billion, and extending the maturity date to January 1, 2025. The syndicated credit facility can be expanded to $3.2 billion in total availability, subject to lender approval.
  • Streamline Health(R) Announces New Credit Facility with Bridge Bank
    December 16, 2019
    Streamline Health Solutions, Inc. (NASDAQ: STRM), provider of integrated solutions, technology-enabled services and analytics supporting revenue cycle optimization for healthcare enterprises, today announced it has moved its credit facility to Bridge Bank, a division of Western Alliance Bank, effective December 11, 2019. Bridge Bank has extended the Company a new credit facility with a total capacity of $6 million. This credit facility replaces the Company's prior credit facility with Wells Fargo Bank N.A.
  • Legacy Reserves Successfully Completes Financial Restructuring
    December 16, 2019
    This facility is led by Wells Fargo Bank, National Association as Administrative Agent, RBC Capital Markets as Syndication Agent, Joint Lead Arranger and Joint Bookrunner, along with Wells Fargo Securities, LLC, BMO Capital Markets Corp., Barclays Bank PLC, BofA Securities, Inc., JPMorgan Chase Bank, N.A., Citigroup Global Markets Inc., and Credit Agricole Corporate and Investment Bank as additional Joint Lead Arrangers and Joint Bookrunners.
  • Business Capital Expands in 2019
    December 16, 2019
    Business Capital (BizCap ®) continued to strengthen its industry presence in 2019, expanding its team of professionals, successfully closing 12 transactions covering a wide range of industries and financial structures with 8 more expected by year end.
  • Tim Wielechowski Joins Lazard’s Middle Market Consumer, Food & Retail Group
    December 12, 2019
    Lazard Ltd (NYSE: LAZ) announced today that Tim Wielechowski has joined Lazard’s Middle Market Consumer, Food & Retail (CFR) group as Managing Director. He is based in Charlotte. Mr. Wielechowski has more than two decades of experience advising middle market private and public companies in the consumer products, retail, and restaurant sectors.
  • Alvarez & Marsal Hires Lisa Price as Managing Director in North American Restructuring & Turnaround Group
    December 12, 2019
    Leading global professional services firm Alvarez & Marsal (A&M) announces Lisa Price has joined A&M as Managing Director in Atlanta in its Restructuring & Turnaround practice. Ms. Price will leverage her wealth of global restructuring and leadership experience to strengthen the firm’s turnaround and restructuring service offerings.
  • TCF Middle Market Banking Provides Secured Financing to Support Legacy Center, LLC
    December 12, 2019
    TCF Middle Market Banking (TCFMMB), a division of TCF National Bank (TCF Bank) which is a subsidiary of TCF Financial Corporation (TCF) (NASDAQ: TCF), today announced that it provided secured financing to support Legacy Center, LLC.
  • Newbridge Hires Credit and Underwriting Associate to Support Growth
    December 12, 2019
    Newbridge Global Sourcing (“Newbridge”), a leading alternative capital provider, has hired Sam P. Gilliss, CPA, as an Associate of Credit and Underwriting. He will be responsible for evaluating and underwriting supply chain, receivables, and asset-based lending facilities. Newbridge continues to add talented professionals in order to enable SMEs and large enterprises to grow through unique funding solutions.
  • Pipestone Energy Corp. Announces a $225 Million Syndicated Reserve Based Loan and Achievement of 2019 Exit Production Guidance
    December 12, 2019
    The RBL consists of a $195 million syndicated revolving facility (“Syndicated Facility”) and a $30 million bi-lateral operating facility (“Operating Line”). The Syndicated Facility includes an accordion feature, which provides for a $25 million increase to the borrowing capacity, subject to the mutual consent of its lenders.
  • Think Finance Reorganizes and Exits Bankruptcy Protection
    December 12, 2019
    On December 7, 2019, the business operations of Think Finance, LLC and its subsidiaries emerged from Chapter 11 bankruptcy proceedings as reorganized entities following approval of their joint Chapter 11 plan by the United States Bankruptcy Court for the Northern District of Texas. As part of the ruling, the Think Finance entities resolved all governmental and private lawsuits and claims against them. The reorganized business will operate as new subsidiaries of TF Holdings, Inc.
  • Norsk Hydro: Hydro Signs new USD 1,600 Million Revolving Credit Facility With Margin Linked to Reduction Target for Greenhouse Gas Emissions
    December 12, 2019
    DNB Markets, a part of DNB Bank ASA (“DNB”), ING Belgium SA/NV and Skandinaviska Enskilda Banken AB (publ) (“SEB”) acted as Co-ordinating Bookrunners and Mandated Lead Arrangers on the transaction.
  • Maple Leaf Foods Secures First Sustainability-Linked Credit Facility in Canada
    December 11, 2019
    BMO Capital Markets is Sole Bookrunner on the credit facilities and acted as a Sustainability Structuring Agent, working with Maple Leaf Foods to integrate the sustainability targets into the credit facilities. The Co-Lead Arrangers are BMO Capital Markets, Scotiabank, RBC, CIBC, and Rabobank Canada. Four additional lenders participated: Bank of America, JP Morgan Chase, National Bank Financial, and Toronto Dominion Bank.
  • Kirkland's Renews Credit Facility
    December 11, 2019
    Kirkland's, Inc. (NASDAQ: KIRK) today announced it has amended and extended its $75 million senior secured credit facility with Bank of America, N.A. The $75 million credit facility, with a maturity date of December 2024, replaces the previous facility that was set to mature in February 2021. The structure and terms of the credit facility are substantially the same as the previous facility.
  • HPD LendScape Acquires Software Consultancy, Finaptix, to Accelerate Global Growth
    December 11, 2019
    Working capital finance software provider, HPD LendScape, has acquired leading software implementation consultancy, Finaptix, in a move to address the asset finance sector, extending its LendScape platform to all forms of secured lending. The deal adds industry experts Steve Taplin and Michael Mayes to the executive team that includes Kevin Day, CEO, along with Andrea Cole, previously Product Director of LendScape. Together they will support the company’s further expansion and rounds off a year which saw personnel increase by 19%.
  • Republic Provides a $6.5 Million Facility to a Gulf Coast-based Food Manufacturing Company
    December 11, 2019
    Republic partnered with an investment bank to provide a ledgered receivables line of credit to support exponential growth.
  • Winter Harbor Adds Jim Whitney to Restructuring and Turnaround Team
    December 11, 2019
    Winter Harbor LLC, a restructuring and turnaround advisory firm, is pleased to announce the addition of Jim Whitney to their team as a managing director. Jim brings forth more than 25 years of financial advisory, restructuring, and turnaround expertise to large and middle-market companies and their stakeholders.
  • CIT Provides $36.2 Million for Acquisition of Plano Office Building
    December 11, 2019
    CIT Group Inc. (NYSE: CIT) today announced that its Real Estate Finance unit provided $36.2 million in financing for the acquisition of Park Center, a 97% leased, multi-tenant office building in Plano, Texas. Park Center, which was acquired by an affiliate of Innovatus Capital Partners LLC, is a five-story, Class A office building located at 2400 Dallas Parkway that encompasses approximately 236,000 square feet of rentable space.
  • ToneyKorf Partners named Turnaround Consulting Firm of the Year and recognized for the Out-of-Court Restructuring of the Year by The M&A Advisor
    December 11, 2019
    The M&A Advisor announced the winners of the 14th Annual Turnaround Awards on December 10, 2019. ToneyKorf Partners, LLC was named the Turnaround Consulting Firm of the Year and also recognized with an award for the Out-of-Court Restructuring of the Year ($10MM to $100MM) for the acquisition of Milford Hospital by Yale New Haven Health. The awards will be presented at a Black Tie Gala on March 18, 2020, at The Colony Hotel in Palm Beach, FL.
  • Huntington Business Credit Closes new $26,400,000 in Credit Facilities with Chandler Industries
    December 11, 2019
    Chandler Industries, Inc. is a portfolio investment of Arch Equity Partners located in St Louis, Missouri. Proceeds of the facilities were used to repurchase stock, provide for a dividend, refinance existing debt and ongoing working capital financing.
  • Axiom Bank Hires New VP, Commercial Team Lead
    December 11, 2019
    Axiom Bank N.A., a Maitland-based, leading community bank, recently hired Amy Carlson as VP, Commercial Team Lead. In this role, Carlson will work with Axiom’s commercial clients throughout Central Florida to help them achieve their business goals.
  • Telesat Canada Announces Closing of Its Secured Notes Offering and Credit Facility Refinancing Transaction
    December 11, 2019
    The amended credit agreement provides for a new term loan facility of US$1.909 billion and a new revolving credit facility with commitments ofUS$200 million (together, the “Senior Credit Facilities”), which replaced the existing term loan and revolving facilities. The revolving credit facility is currently undrawn. JP Morgan Chase Bank N.A. (“JP Morgan”) is acting as administrative agent and collateral agent with respect to the Senior Credit Facilities.
  • Concord Serves As Exclusive Financial Advisor and Arranges $20MM in Senior Debt
    December 10, 2019
    The client is a luxury jewelry retailer based in the Northeastern U.S. The financing arranged consisted of a $20 million senior secured revolving line of credit.
  • Orchestra BioMed™ Secures $20 Million Financing Facility from Silicon Valley Bank
    December 10, 2019
    This agreement provides up to $20 million of new capital to the Company for development and general corporate purposes, with an initial up to $10 million draw available at Orchestra BioMed’s sole option during the next 12 months and the remainder available to the Company following the completion of certain milestones.
  • Chesapeake Energy Corporation Announces Pricing Of $1.5 Billion Term Loan Facility
    December 10, 2019
    The term loan is being arranged by JPMorgan Chase Bank, N.A., Morgan Stanley Senior Funding, Inc., BofA Securities, Inc. and MUFG Union Bank, N.A.
  • Finacity Facilitates up to EUR 15 Million Receivables Financing Program for Wiko Mobile in France
    December 10, 2019
    Finacity Corporation (“Finacity”), part of the Greensill family of companies, announced today that it has facilitated a EUR 15 million receivables financing facility for Wiko Mobile, a rapidly-growing maker of popular smartphones in Europe. The new facility provides additional financing for the company’s repositioning and development program in Europe.
  • Republic Provides a $1.5 Million Facility to a Midwestern Transportation Company
    December 10, 2019
    Republic partnered with a turnaround consulting firm to provide a receivables line of credit to help support the trucking firm’s growth.
  • Allied Affiliated Funding Announces Closed Transactions
    December 10, 2019
    Allied Affiliated Funding, a division of Axiom Bank, N.A. is pleased to announce the following recently closed transactions: $250,000 in Receivables Financing to a Texas-based company that primarily provides commercial roofing services on new construction and sheet metal fabrication, including standing seam metal roofs, gutter, downspouts and flashing and $150,000 in Receivables Financing to a Texas-based company that provides steel fabrication, including sheet metal bending, laser cutting and plastic injection/heat molding for manufacturing companies.
  • Agree Realty Announces Expanded $600 Million Credit Facility, $1.1 Billion Credit Facility Inclusive of Accordion Option
    December 10, 2019
    PNC Capital Markets LLC, Citigroup Global Markets Inc. and Wells Fargo Securities, LLC served as Joint Lead Arrangers and Joint Book Managers for the Revolving Facility. PNC Bank, National Association served as the Administrative Agent and Citigroup Global Markets Inc. and Wells Fargo Securities, LLC served as Co-Syndication Agents. PNC Bank, National Association, Citibank, N.A., Wells Fargo Bank, National Association, Capital One, National Association, Citizens Bank, N.A., Regions Bank, SunTrust Bank, U.S. Bank National Association, JPMorgan Chase Bank, N.A., Mizuho Bank, Ltd., Raymond James Bank, N.A. and Stifel Bank & Trust served as participating lenders in the Revolving Facility.
  • CanWel Building Materials Group Renews and Extends Senior Revolving Banking Facility
    December 10, 2019
    CanWel Building Materials Group Ltd. (“CanWel” or “the Company”) (TSX:CWX, CWX.NT.A) is pleased to announce the early renewal of its senior revolving credit facility with its lender and agent, Wells Fargo Capital Finance Corporation (Canada) and CIBC, Royal Bank and TD as syndicate lenders
  • Pinnacle Capital Finance provides a $900K Accounts Receivable Line of Credit to an Oregon Commercial Printer
    December 10, 2019
    Pinnacle Capital Finance has provided a $900,000 accounts receivable line of credit to a commercial and digital printer located in Oregon. The company provides state of the art printing, fulfillment and on-site inventory organization for their clients including global distribution.
  • Artis Trade Systems Gires VP of Sales
    December 10, 2019
    Artis Trade Systems (“Artis”), a Phoenix-based Fintech company that developed ArtisPay, a plug and play Supply Chain Finance web application for banks and lenders of all sizes, recently hired Kenny Steinbeck as Vice President of Sales. Mr. Steinbeck is located in Orlando, FL., but will be relocating to Arizona in 2020. Mr. Steinbeck was most recently with LSQ as a Bank Channel Manager.
  • BlackArch Partners Announces Hiring of Ian Mackay as Managing Director and Head of Financial Sponsors Group
    December 10, 2019
    BlackArch Partners, a leading middle-market investment bank, is pleased to announce that Ian Mackay has joined the firm as Managing Director. He will serve as head of BlackArch's Financial Sponsors Group focusing on middle market private equity groups and family offices.
  • Paul, Weiss Announces Election of Seven New Partners
    December 10, 2019
    Paul, Weiss, Rifkind, Wharton & Garrison LLP is pleased to announce that seven attorneys have been elected to the partnership, effective January 1, 2020: Jonathan H. Ashtor, Rachael G. Coffey, Alexia D. Korberg, Caith Kushner, Kyle T. Seifried, Brette Tannenbaum and Austin Witt. All are resident in the New York office.
  • North Mill Announces Pricing of $164 Million Securitization
    December 9, 2019
    North Mill Equipment Finance announced today the closing of its third commercial equipment asset backed securitization (ABS), NMEF Funding 2019-A.
  • Gibraltar Provides $6MM Growth Capital to Company Innovating for the Future of Surgery
    December 9, 2019
    Gibraltar prides itself on helping companies and their private equity sponsors seize opportunities when they arise, with enough capital to meet current needs and boost company performance to the next level.
  • Rockland Trust Provides Asset Based Credit Facility to Milton’s Distributing Co., Inc.
    December 9, 2019
    Rockland Trust announced it closed a $30 million revolving line of credit to Milton’s Distributing Co., Inc., a national wholesale distributor and importer of wine, beer and spirits.
  • First Business Growth Funding Announces $1.5 Million Closed Deal
    December 9, 2019
    First Business Growth Funding, the accounts receivable financing arm of First Business Financial Services, Inc. (Nasdaq: FBIZ), is pleased to announced the closing of a $1.5 million Accounts Receivable Purchase Facility for a former client – a wholesaler of computer equipment and office accessories.
  • Celadon Group makes bankruptcy official, shuts down after 34 years
    December 9, 2019
    This morning, Celadon Group (OTC: CGIP) executives told its employees that the company filed for bankruptcy protection under Chapter 11 and will shut down the operations of its over-the-road fleet.
  • Blacksail Capital Partners Closes $4,500,000 USD Credit Facility for a Snack Food Manufacturer
    December 9, 2019
    Blacksail Capital Partners announced the closing and funding of a $4,500,000 senior credit facility for a Snack Food Manufacturer based in Northeastern United States.
  • CIT Serves as Sole Lender on $35 Million Financing for Icelandair
    December 9, 2019
    CIT Group Inc. (NYSE: CIT) today announced that its Aviation Lending business, part of its Commercial Finance division, served as sole lender and facility agent on a $35 million secured financing for Icelandair Group, the national carrier of Iceland.
  • Leonard Green & Partners Announces Closing of Two New Private Equity Funds Totaling $14.75 Billion
    December 9, 2019
    Leonard Green & Partners, L.P. ("LGP") announces the final closings of the firm's eighth flagship private equity investment fund, Green Equity Investors VIII, L.P. ("GEI VIII"), and its inaugural dedicated middle market fund, Jade Equity Investors, L.P. ("Jade"). LGP closed on $12 billion of committed capital for GEI VIII and $2.75 billion for Jade. Both funds were over-subscribed and closed at their respective hard caps.
  • BB&T, SunTrust finish merger to become Truist in ‘seamless’ change. Here’s what’s next
    December 9, 2019
    The largest bank merger since the financial crisis a decade ago was just finalized, giving Charlotte another bank headquarters in Truist Financial Corporation. But it could take up to two years for the transition to the new brand to be complete.
  • First Eagle Investment Management Agrees to Acquire Alternative Credit Manager THL Credit
    December 9, 2019
    First Eagle Investment Management, LLC (“First Eagle”) and THL Credit Advisors LLC (“THL Credit”) today announced that they have entered into a definitive agreement for First Eagle to acquire THL Credit, a leading alternative credit manager with approximately $17 billion in assets under management as of September 30, 2019.
  • LOGISTEC Announces that it has Successfully Renegotiated its Existing Credit Facility
    December 6, 2019
    Bank of Montreal and TD Securities acted as co-lead arrangers and joint bookrunners for the syndication of the revolving credit facility. Also participating in the credit facility are National Bank of Canada, Scotiabank, RBC Royal Bank and Desjardins Capital Markets.
  • Alvarez & Marsal Appoints David Wong to Lead Software Product & Technology Diligence Offering for the Private Equity Services Group
    December 6, 2019
    Leading global professional services firm Alvarez & Marsal (A&M) has announced the appointment of David Wong as Managing Director in the Private Equity Services Group in Boston. Mr. Wong will lead the Software Product & Technology Diligence service offering for A&M’s Private Equity Services, further expanding and diversifying the group’s existing Information Technology Due Diligence practice.
  • E-Commerce Complicates Retail Store-Closure Plans, Notes A&G Exec
    December 6, 2019
    Shuttering on-the-bubble stores used to be a no-brainer—but not in today’s era of omnichannel retailing, writes Jon Graub in article for Journal of Corporate Renewal.
  • North Mill Capital Promotes Tessa Brend to Vice President
    December 6, 2019
    Tessa began her career with the company in 2009. She has held various roles within North Mill Capital ranging from Collateral Specialist to Account Executive. She currently oversees a team of cash application specialists in the Minneapolis office, manages a portfolio of clients as well as working on the underwriting of new prospective clients.
  • Crestmark Provides More Than $32.5 Million in Commercial Financing to 95 Businesses in the Second Half of November
    December 5, 2019
    Crestmark secured a total of $6,400,000 in ABL financial solutions for seven new clients; Crestmark Equipment Finance provided $8,866,343 in seven new lease transactions; Crestmark Vendor Finance provided $6,374,126 in 81 new lease transactions; and the Government Guaranteed Lending Division provided $10,875,000 in financing for two new clients in the second half of November.
  • Steel Dynamics Announces $1.2B Revolving Credit Facility
    December 5, 2019
    Steel Dynamics, Inc. STLD announced that it entered a $1.2-billion senior unsecured revolving credit facility. Notably, the credit facility is expected to mature on Dec 3, 2024. PNC Capital Markets LLC, BofA Securities, Inc and Wells Fargo Securities, LLC acted as joint lead arrangers and joint bookrunners for the revolving credit facility.
  • Tiger Group Online Auction Features Pro Audiovisual Gear from Keslow Camera and Eastern TV
    December 5, 2019
    Online auction sale on Dec. 10 is an opportunity for the A/V industry to purchase high-quality cameras, lighting, lenses, audio, tripods, filters and much more.
  • Arboretum Investment Advisors Closes $25 Million Senior Credit Facility With MidCap Financial
    December 5, 2019
    Arboretum Investment Advisors, LLC ("Arboretum"), a fund manager and SEC-registered investment advisor that specializes in asset-backed and equipment finance funds, has announced that one of Arboretum's propriety equipment leasing funds closed on a $25 million senior credit facility with MidCap Financial, a premier specialty finance firm managed by Apollo Capital Management, L.P.
  • Blacksail Capital Partners Closes $5,875,000 Credit Facility for Industrial Plant Completion
    December 5, 2019
    Blacksail Capital Partners announced the closing and funding of a $5,875,000 senior credit facility for a sponsor owned Industrial Manufacturer based in North Carolina. Proceeds of this term loan are being used for the completion of a brand new manufacturing facility and to support working capital for future growth.
  • Huntington Business Credit Announces Credit Facilities
    December 5, 2019
    Huntington Business Credit announced it closed a new $40,000,000 credit facility with TeleTracking Technologies, Inc. on October 23, 2019 and closed new $37,240,000 credit facilities with Laminate Technologies, Inc. on October 29, 2019.
  • Bridge Bank Extends $4MM Senior Debt Facility to Factor 75 LLC
    December 5, 2019
    Bridge Bank today announced it has extended a senior debt facility to Factor 75 LLC. (Factor), a market-leading, online subscription service that delivers fresh, prepared, restaurant-quality meals that are uniquely positioned at the intersection of food and fitness.
  • Blacksail Capital Partners Announces Recent Transactions
    December 4, 2019
  • Webster Promotes Sam Hanna to Executive Vice President, Middle Market Banking
    December 4, 2019
    In this capacity, Sam will continue to lead the bank’s regional middle market banking organization, as well as equipment finance and other established middle market verticals including healthcare, emerging growth and government lending.
  • Santander US Announces Leadership Appointments
    December 4, 2019
    Tim Wennes was named Santander US CEO and Country Head, and Mahesh Aditya named CEO of Santander Consumer. Sarah Drwal named Santander US CRO, and Juan Carlos "JC" Alvarez Joins Santander Consumer Board of Directors.
  • TAB Bank Provides Technology Company in Florida with a $4 Million Asset-Based Revolving Credit Facility
    December 4, 2019
    The new facility is extended through a multi-year agreement and will provide for the company’s ongoing working capital needs. The company provides high-temperature point-of-sales systems and software peripherals to the restaurant industry.
  • Secure Trust Bank Commercial Finance Announces Senior Hire
    December 4, 2019
    Secure Trust Bank Commercial Finance has bolstered its senior team in the North West by appointing a new regional managing director. Paul Johnston has more than 30 years of experience within the asset-based lending market. He joins from Santander and has also held senior roles at Landsbanki Commercial Finance and Lloyds Bank.
  • Destination Maternity Announces $50M Stalking Horse Bid
    December 4, 2019
    Retailer Destination Maternity Corp. is asking the Delaware bankruptcy court to approve a $50 million stalking horse bid from brand acquisition company Marquee Brands for its e-commerce operation, store-in-store locations and trademarks. Destination Maternity is represented by Adam G. Landis, Kerri K. Mumford and Jennifer L. Cree of Landis Rath & Cobb LLP and Christopher T. Greco of Kirkland & Ellis LLP.
  • Astorius Forms Strategic Partnership with Twin Bridge Capital Partners to Expand Private Equity Product Offering
    December 4, 2019
    Astorius, one of Germany's leading private equity firms, announced that it has entered into a strategic partnership with Twin Bridge Capital Partners, a U.S. private investment firm, to expand its small and lower middle-market private equity product offering.
  • Gridiron Capital Expands Business Development Capabilities
    December 4, 2019
    Gridiron Capital, LLC (“Gridiron Capital”), a leading investment firm focused on partnering with founders, entrepreneurs, and management teams, is pleased to announce it has promoted Sean Kelley to Managing Director, Business Development and added and promoted Ty Black to Associate as part of the Business Development Team.
  • Arnold & Porter Expands Capital Markets Practice, Partner Carol Anne Huff Joins Chicago Office
    December 4, 2019
    Carol Anne Huff announced today that Carol Anne Huff has joined the firm's Chicago office as a partner in the Corporate & Finance practice. Ms. Huff brings more than 20 years of experience in capital markets and M&A transactions, with a focus on the representation of private equity firms and public companies. Ms. Huff joins Arnold & Porter from an AmLaw100 firm.
  • Umpqua Bank Releases “State of the Middle Market 2020” Survey
    December 4, 2019
    Umpqua Bank, a West Coast regional bank, has released its “State of the Middle Market 2020,” a national survey gauging the confidence of companies that together account for one-third of all U.S. private sector GDP. More than 500 decision-makers at middle market companies across all industries and geographic regions were polled on issues impacting their economic confidence and decision-making heading into 2020, including U.S.-China trade, stock market volatility, the labor market and interest rate environment.
  • Newbridge Provides More than $40 Million in Financing Facilities to Global Companies
    December 4, 2019
    Newbridge Global Sourcing (“Newbridge”), a leading specialty finance company, recently provided a $40 million receivables financing facility to a telecommunications equipment manufacturer headquartered in Mexico. In addition, Newbridge provided $500,000 in supply chain financing to a leading designer and manufacturer of high-quality outdoor apparel to purchase inventory and fill customer orders.
  • Chesapeake Energy Corporation Announces Arrangement Of $1.5 Billion Term Loan Facility
    December 4, 2019
    Chesapeake Energy Corporation (NYSE:CHK) announced today that it has engaged JPMorgan Chase Bank, N.A., Morgan Stanley Bank, N.A., Bank of America, N.A. and MUFG Bank, N.A. to assist with the arrangement of a secured first lien last out 4.5-year term loan facility in the aggregate principal amount of up to $1.5 billion.
  • Encina Business Credit, LLC Provides $30MM Facility to Coal Producer
    December 3, 2019
    Encina Business Credit, LLC (EBC) announced today that it has provided a $30 million senior secured credit facility to a company that produces coal for blast-furnace steel production. The facility consists of a revolving line of credit based on accounts receivable and inventory. Loan proceeds will be used to provide a dividend and to support working capital, capex, and other corporate requirements.
  • Concord Serves As Exclusive Financial Advisor and Arranges $20MM in Senior Debt
    December 3, 2019
    The client was a Luxury Jewelry Retailer based in the Northeastern U.S. The financing will be used to refinance existing debt & provide additional working capital.
  • Indicator Survey Shows that Substantial Risk, Compliance Concerns Remain for U.S. Lenders
    December 3, 2019
    Notable regulatory compliance and risk challenges remain high in a number of key areas for U.S. banks and credit unions, according to results of Wolters Kluwer’s 2019 Regulatory & Risk Management Indicator survey. This year’s survey generated a Main Indicator Score of 95, a 10-point increase from the 2018 score, that was influenced by concerns about the impact of Home Mortgage Disclosure Act (HMDA) rules; cybersecurity, credit and compliance risks; and an increased level of regulatory agency fines.
  • Pinnacle Capital Finance Provides a Line of Credit and a Term Loan to a Leading Aerospace Company Totaling $995,000.00
    December 3, 2019
    The company has been an industry leader for forty years and has the largest privately held inventory of forming equipment in the world. The line of credit will be used to supplement cash flow during crucial times of need, meet payroll demands and increase sales and production.
  • Capital One Provides $182 Million Loan to BioMed Realty for Modernization and Conversion of Office Portfolio to Life Science
    December 3, 2019
    Capital One announced today that it closed a $182 million loan to finance substantial improvements for a four-building, 288,000 sq. ft. office campus in San Diego’s University Town Center by BioMed Realty, a Blackstone portfolio company. Funding includes a holdback for the redevelopment currently underway, led by the conversion of certain office space to laboratory/life science use and the addition of a variety of Class A amenity features serving the entire campus.
  • SG Credit Partners Provides $1.5 Million Refinance for SaaS Company
    December 3, 2019
    SG was able to quickly get comfortable with the business due to the contracted recurring revenue, continued equity support, and opening liquidity. SG provided a $1.5MM non-formula, structured senior secured loan.
  • Carl Marks Advisors Promotes Scott Webb to Partner
    December 3, 2019
    Since joining the firm in 2007, Webb has held positions of increasing responsibility and for the last two years has led the firm’s investment banking restructuring vertical alongside Partner Evan Tomaskovic.
  • White Oak Healthcare Finance Closes Senior Credit Facility for Linden-Backed Virtus Pharmaceuticals
    December 3, 2019
    White Oak Healthcare Finance, LLC (“White Oak”) announced today that it acted as sole lender and administrative agent on a senior credit facility for Virtus Pharmaceuticals (“Virtus”), a portfolio company of Linden Capital Partners (“Linden”). Proceeds were used to refinance existing debt and provide liquidity for strategic initiatives and working capital.
  • Finvoice Names SVP, Director of Sales & Marketing in New York
    December 3, 2019
    Jennifer Rabinowitz will be responsible for all aspects of Finvoice’s sales and marketing, leading sales efforts nationwide and overseeing critical marketing initiatives to create and deliver value to the company. She will be based in New York City.
  • Axovant Announces Amendment to Credit Facility with Hercules Capital
    December 3, 2019
    Axovant Gene Therapies Ltd. (AXGT), a clinical-stage company developing innovative gene therapies, today announced the completion of an amendment to its loan and security agreement with Hercules Capital, Inc. (“Hercules”). The amendment provides for a 9-month interest-only period commencing December 2019, as well as the elimination of the covenant to maintain a minimum cash balance.
  • Sandstorm Gold Royalties Amends $225 Million Credit Facility to Include an Accordion Feature to Increase up to $300 Million
    December 3, 2019
    The syndicate of banks include The Bank of Nova Scotia, Bank of Montreal, National Bank of Canada, Canadian Imperial Bank of Commerce, and Royal Bank of Canada. The Revolving Loan has a term of four years, maturing in December 2023.
  • Aphria Secures $80M In Financing For Aphria Diamond Growing Facility
    December 3, 2019
    Aphria Inc. (TSX: APHA) (NYSE: APHA) said Monday that its Aphria Diamond growing facility subsidiary obtained an $80-million credit facility Friday with a Canadian chartered bank that will serve as an arranger, book runner and administrative agent on behalf of lenders.
  • CIT Names Director to Technology, Media and Telecommunications Group
    December 3, 2019
    In his new role, Shah will have primary responsibility for expanding the business’s existing coverage network on the West Coast to better serve technology-oriented private-equity firms, venture capital firms and entrepreneurs. His focus will be to drive asset growth, underwriting business and cross-sell financial products and services.
  • Monroe Capital Supports Centre Partners’ Investment in Hispanic Foods Platform
    December 3, 2019
    Monroe Capital LLC (“Monroe”) today announced it acted as sole lead arranger and administrative agent on the funding of a senior credit facility and equity co-investment to support Centre Partners’ investment in Wisconsin Cheese Group Holding, LLC (“WCG”), a leading manufacturer of branded and private label Hispanic foods, including cheeses, desserts, meats and spices.
  • McDermott to Access $350 Million Tranche B Financing Under Superpriority Senior Secured Credit Facility
    December 2, 2019
    Tranche B provides McDermott with a $250 million Term Loan Facility and a $100 million Letter of Credit Facility. The Company expects to utilize the amounts available under Tranche B to continue financing working capital and support the issuance of required performance guarantees on new projects.
  • Wolters Kluwer Launches Consumer Lending Online Applications Offering for Community Banks, Credit Unions
    December 2, 2019
    Wolters Kluwer’s Compliance Solutions business has launched Online Applications for Consumer Lending (CLA), a digital offering that enhances the online loan origination capabilities of U.S. community banks and credit unions. CLA allows consumers to begin a loan application from any digital device, at any time. It integrates seamlessly with Wolters Kluwer’s ComplianceOne® solution, an industry-leading loan documentation and processing system that helps lenders optimize their lending and document preparation processes in a secure, fast and cost-effective manner.
  • Tokyo Century Announces Acquisition of Allegiant Partners Incorporated
    December 2, 2019
    Tokyo Century (USA) Inc. is pleased to announce that it has acquired 100% of the capital stock of Allegiant Partners Incorporated, an independent specialty finance and leasing company based in Bend, Oregon.
  • TIMIA Increases Investment Capacity with $7.5 Million Credit Facility While Reducing Cost of Capital
    December 2, 2019
    The one-year term includes an additional 3 month extension and supports TIMIA's future investments into growing SaaS companies in North America with the expectation that 50% of funding for such new investments will be funded from the credit facility ("advance rate") and the remaining 50% will be funded from TIMIA's balance sheet.
  • Wintrust Receivables Finance Announces Closing of a New $1.5 Million Line of Credit to Support Growing Trucking Company
    December 2, 2019
    Wintrust Receivables Finance announced today the closing and funding of a $1.5 million credit facility for a trucking company based in Illinois. The company specializes in hauling dry goods, sheet metal, and general freight, while also providing transloading services.
  • Gibraltar Business Capital Welcomes Bruce Mettel as its Newest SVP and Account Executive
    December 2, 2019
    Bruce is a seasoned credit professional with over 25 years of asset-based lending experience in both banks and finance companies. His roles have been diverse, including field exam, underwriting, relationship management and workout positions, giving him the broad expertise needed to serve Gibraltar clients with understanding, innovation and effective solutions to their evolving needs.
  • Moritt Hock & Hamroff Receives National & Regional Tier Practice-Area Rankings in 2020 U.S. News –Best Lawyers® "Best Law Firms' Report"
    December 2, 2019
    U.S. News & World Report and Best Lawyers®, for the tenth consecutive year, has announced the "Best Law Firms" rankings. Moritt Hock & Hamroff has been ranked in the 2020 U.S. News & World Report and Best Lawyers® "Best Law Firms" list nationally in 1 practice area and regionally in 2 practice areas.
  • Celtic Capital Corporation Provides $1.3 Million for California-based Company
    December 2, 2019
    Celtic Capital Corporation today announced its most recent new client relationship – a California-based company that is a job shop – metal and plastics fabrication. This 20-year old business had gotten behind on payroll taxes and with some trade vendors so management approached Celtic Capital for funds to get caught up and to provide additional working capital.
  • SierraConstellation Partners, LLC (SCP) Grows Los Angeles Headquarters with Three New Hires
    December 2, 2019
    SierraConstellation Partners, LLC (SCP), a national interim management and advisory firm to middle-market companies in transition, announced today that it has hired three professionals to join the firm’s Los Angeles headquarters. The new additions reflect SCP’s deep commitment to its team, growth, and focus on being the premier firm serving the middle market.
  • Bladex Co-leads Successful Syndication of a US$130 Million 3-year Senior Term Loan Facility for Banco Aliado, S.A.
    December 2, 2019
    Bladex acted as Joint Lead Arranger and Bookrunner, together with JPMorgan Chase Bank, N.A. ("J.P. Morgan") and Banistmo, S.A. ("Banistmo"), and will act as Administrative Agent under the Facility.
  • Sezzle Secures US$100 Million Debt Funding Facility to Grow Business
    December 2, 2019
    Sezzle Inc (ASX: SZL) has secured a US$100 million debt funding facility with a syndicate of lenders, which is more than triple the size of the company’s prior credit facility of US$30 million.
  • Cequence Energy Announces Confirmation of Its Credit Facility Borrowing Base
    December 2, 2019
    Cequence Energy Ltd. ("Cequence" or the "Company") (CQE.TO) is pleased to announce that its senior lender has completed a redetermination of the borrowing base under the Company’s senior secured credit facility (the “Credit Facility”), and has confirmed the borrowing base remains at $7 million. Other than outstanding letters of credit totalling approximately $1.6 million, the Company currently has no amounts drawn under the Credit Facility.
  • Blank Rome Welcomes New Associate in Chicago
    December 2, 2019
    Blank Rome LLP is pleased to announce that Andrew J. White has joined the Finance, Restructuring, and Bankruptcy group as an associate in the Firm’s new Chicago office, which entered the market this past summer with the notable addition of partners Kenneth J. Ottaviano, Karin H. Berg, William J. Dorsey, and Paige Barr Tinkham.
  • Bryant Bank Hires Birmingham Local to Commercial Banking Team
    December 2, 2019
    Clint Calvert joins the bank with 12 years of commercial loan experience and will serve the Birmingham area by collaborating, producing, and managing commercial relationships in the Birmingham area. A Samford University graduate, Calvert earned a bachelor’s degree in Economics in 2007
  • Nevada Copper Executes Previously Announced Credit Facility
    December 2, 2019
    Nevada Copper Corp. (NCU.TO) (“Nevada Copper” or the “Company”) is pleased to announce that it has executed a credit agreement with Pala Investments Limited for up to US$30 million (the “Credit Facility”) in connection with the previously announced binding term sheet.
  • Cuda Oil and Gas Inc. Announces the Extension and Expansion of its Credit Facility to Continue to Fund its Light Oil Asset in the Powder River Basin – Wyoming
    December 2, 2019
    Cuda Oil and Gas Inc. (“Cuda” or the “Company”) (TSXV: CUDA) is pleased to announce that it has entered into an Agreement with the Company’s institutional lender (the “Lender”) to extend the expiration of its 2nd Lien Facility from December 31, 2019 to March 31, 2020. In addition, the Lender has agreed to advance funding of $4.5 MM CAD under the 2nd Lien Facility. The capital proceeds will be used to fund oil field development expenditures associated with the Company’s Barron Flats Shannon Unit (SSRU) in Converse County, Wyoming.
  • Jennifer Ross of North Mill Capital was Promoted to Senior Vice President
    December 2, 2019
    Jennifer started her career at Summit Financial Resources in 2009. She will be based out of the Utah office.
  • Ucore Renegotiates Long-Term Debt
    December 2, 2019
    Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) ("Ucore" or the "Company"), is pleased to announce that it has renegotiated the terms of its long-term debt owing to Orca Holdings, LLC ("Orca") and that Orca has agreed to a reduction in the interest rate and an extension of the maturity date of the loan (the "Loan"), as well as an immediate repayment of a portion of the debt.
  • Boreal Arranges Working Capital Debt Facility
    December 2, 2019
    Boreal Metals Corp. ("Boreal" or the "Company") (BMX.V) is pleased to announce that it has entered into a loan facility agreement (the "Loan Agreement") with EMX Royalty Corporation (the "Lender") for a secured loan facility of C$800,000 (the "Loan").
  • Alvarez & Marsal Appoints Senior Infrastructure Specialist to Bolster Global Transaction Advisory Group
    December 2, 2019
    Global professional services firm Alvarez & Marsal (“A&M”) has appointed Wayne Jephson as a London-based Managing Director, to support the continued expansion of its Global Transaction Advisory Group.
  • Nicole Crafts to Divest Out of Retail Operations
    December 2, 2019
    Nicole Crafts has decided to exit its retail operations by retaining the retail and real estate divisions of Gordon Brothers to close the A.C. Moore stores, as part of a broader strategic plan. Matthew Pascucci of Mackinac Partners has been appointed as Chief Restructuring Officer of A.C. Moore to assist in this effort.
  • Cascades Announces Successful Completion of Notes Offering
    December 2, 2019
    Cascades Inc. (TSX: CAS) (the "Company"), a leader in eco-friendly recycling, packaging and hygiene solutions, announced today that it has completed its previously announced private offering of US$350 million aggregate principal amount of 5.125% senior notes due 2026, US$300 million aggregate principal amount of 5.375% senior notes due 2028 and Cdn$175 million aggregate principal amount of 5.125% senior notes due 2025.
  • Citizens Commercial Banking leads $55 million loan for construction of 267-unit apartment project in Elizabeth, NJ
    November 26, 2019
    Citizens Commercial Banking announced today that its Commercial Real Estate Finance team is providing a $55 million loan to LeCesse Development Corp. and MAS Development Group, for the construction of a mixed-use apartment complex called Vinty in Elizabeth, N.J. Citizens is Left Lead Bank and Administrative Agent.
  • Compass Minerals Closes on Sale of $500 Million Senior Notes; Concurrently Closes on Amended and Restated Credit Agreement
    November 26, 2019
    Compass Minerals International, Inc. (NYSE: CMP) completed today its previously announced offering of $500 million aggregate principal amount of 6.75% senior notes due 2027 in a private offering. Compass Minerals has also closed on its new amended and restated credit agreement which provides for a $300 million revolving credit facility and $400 million term loan. Both the revolving credit facility and the term loan mature on January 15, 2025 and carry an interest rate of LIBOR plus 2 percent or a base rate plus 1 percent, as applicable.
  • Caliber Imaging & Diagnostics, Inc. Secures $5.0 Million in Debt Financing from Bridge Bank concurrent with $1.5 Million Equity Financing
    November 26, 2019
    Caliber Imaging & Diagnostics, Inc. (Caliber I.D.) a global leader of confocal microscopy for non-invasive cellular-level imaging of the skin, announced today the closing of a $5.0 million term loan financing from Bridge Bank. The first $3.0 million tranche will be funded immediately upon closing and the remaining tranche of $2.0 million will be available upon satisfaction of certain operational and financing covenants. The proceeds from this financing will be used to expand sales and marketing team and capabilities and for working capital and general corporate purposes.
  • Park Lawn Corporation Announces Upsize to Credit Facility
    November 26, 2019
    Park Lawn Corporation (PLC.TO) ("PLC") is pleased to announce an increase to its syndicated bank financing arrangement as well as the addition of CIBC to the syndicate led by National Bank of Canada and including Bank of Montreal , Bank of America and The Toronto-Dominion Bank.
  • Mercuria Successfully Closes Oversubscribed Revolving Credit Facility Of US$ 1,200,000,000 In Financing For Its Asian Business
    November 26, 2019
    The Facilities were arranged by Australia and New Zealand Banking Group Limited, Bank of China, Singapore Branch, Coöperatieve Rabobank U.A. Singapore Branch, DBS Bank Ltd., Emirates NBD Capital Limited, Industrial and Commercial Bank of China Limited, London Branch, ING Bank N.V. Singapore Branch, Mizuho Bank, Ltd., MUFG Bank, Ltd., Oversea-Chinese Banking Corporation Limited, Société Générale, Singapore Branch, and Sumitomo Mitsui Banking Corporation Singapore Branch, acting as Bookrunning Mandated Lead Arrangers ("BMLAs").
  • Kutcho Copper Amends Convertible Loan Agreement and Receives Credit Facility from Wheaton Precious Metals
    November 26, 2019
    Kutcho Copper Corp. (TSXV: KC) (OTC: KCCFF) (“Kutcho Copper” or the “Company”) announces that Wheaton Precious Metals Corp. (“Wheaton”) has agreed to amend the terms (the “Amendment”) of its $20 million convertible debenture investment (the “Original Debenture”) in Kutcho Copper that closed on December 14, 2017.
  • Monroe Capital Wins Small Middle Markets Lender of the Year Award for 2019 by Global M&A Network
    November 26, 2019
    Monroe Capital LLC has been recognized by Global M&A Network as the Small Middle Markets Lender of the Year for the seventh consecutive year. Award winners were honored at the Americas M&A Atlas Awards Gala Ceremony held in New York City on October 25th.
  • North Mill Capital LLC Promotes Stephanie Koveleski From Account Executive to Assistant Vice President
    November 26, 2019
    Ms. Koveleski holds a Bachelor’s degree from Temple University and worked at another commercial finance company before joining North Mill Capital in 2018.
  • Crestmark Provides More Than $40.1 Million in Commercial Financing to 92 Businesses in the First Half of November
    November 25, 2019
    Crestmark secured a total of $13,100,000 in ABL financial solutions for seven new clients; Crestmark Equipment Finance provided $16,833,431 in eight new lease transactions; Crestmark Vendor Finance provided $7,397,038 in 78 new lease transactions; the Joint Ventures Division provided $1,432,735 in financing for one client; and the Government Guaranteed Lending Division provided $1,345,000 in financing for one new client in the first half of November.
  • Frazier & Deeter Expands Transaction Advisory Services Group; Brian Dermott, Chase Gund and Joseph Barron Join Charlotte Team
    November 25, 2019
    Brian Dermott has joined the firm as a Principal, Chase Gund as a Manager and Joseph Barron as a Senior Associate. Brian, Chase and Joseph, all licensed CPAs, will expand the Transaction Advisory Group based in Charlotte, which focuses on serving private equity groups, corporate strategic buyers, mezzanine lenders and other investors.
  • OceanaGold Amends Revolving Credit Facility
    November 25, 2019
    OceanaGold Corporation (TSX: OGC / ASX: OGC) (the "Company") is pleased to announce it has amended its existing $200 million Revolving Credit Facility ("Facility") with its banking partners: Scotiabank, Citi, HSBC, Commonwealth Bank of Australia, Natixis and BNP Paribas.
  • Jones Day Adds Partner Thomas M. Devaney to Private Equity Practice in New York
    November 25, 2019
    Mr. Devaney works with sponsors and the management teams of private funds with respect to transactional matters and U.S. securities laws and regulations in forming private funds, fundraising and investor subscriptions, and fund administration and operations. He represents U.S. domestic and global private equity, private credit, real estate, infrastructure and venture capital funds, and hedge funds with a broad range of investment strategies.
  • LVMH Reaches Agreement with Tiffany & Co.
    November 25, 2019
    LVMH Moët Hennessy Louis Vuitton SE (“LVMH”), the world’s leading luxury group and Tiffany & Co. (NYSE: TIF) (“Tiffany”), the global luxury jeweler, today announced that the companies have entered into a definitive agreement whereby LVMH will acquire Tiffany for $135 per share in cash, in a transaction with an equity value of approximately €14.7 billion or $16.2 billion.
  • AlixPartners Bolsters its Healthcare and Life Sciences Offering With Addition of Fran Scholz
    November 25, 2019
    AlixPartners, the global consulting firm, announced today that life sciences expert Frank Scholz has joined as a managing director and one of the key leaders in the firm’s global Healthcare and Life Sciences practice, focusing on helping lead efforts in the pharmaceutical sector. He will be based in AlixPartners’ Chicago office.
  • Southwest Iowa Renewable Energy, LLC Announces Credit Expansion and Repurchase of Membership Units
    November 25, 2019
    Southwest Iowa Renewable Energy, LLC ("SIRE" or the "Company") is announcing the recent expansion of its credit facility and a repurchase of membership units.
  • Jamie Henderson to Join Capital One as Head of Commercial Real Estate
    November 25, 2019
    Capital One announced today that Jamie Henderson will join as Executive Vice President and Head of Commercial Real Estate starting in January 2020. Henderson will report directly to Michael Slocum, President of Commercial Banking and Northeast Market President.
  • Gibraltar Provides $8 Million Credit Facility to Helps Sports Equipment Company Pursue Growth Strategy
    November 25, 2019
    Recently, a turnaround consultant brought Gibraltar together with their client, an industry-leading retailer/e-tailer of new and preowned golf equipment, shoes, apparel and accessories. The company had been in business selling sports equipment to consumers through its multiple ecommerce sites.
  • Enviva Partners, LP Announces Pricing of Upsized $550 Million Offering of Senior Notes
    November 25, 2019
    Enviva Partners, LP (NYSE: EVA) (the “Partnership” or “we”) announced today the pricing of its previously announced private placement to eligible purchasers of $550.0 million in aggregate principal amount of 6.5% senior unsecured notes due 2026 at par (the “Notes”). The principal amount of the offering was increased from the previously announced offering size of $450.0 million. The offering is expected to close on December 9, 2019, subject to customary closing conditions.
  • Lucky Brand Dungarees, LLC Announces Successful Refinancing
    November 25, 2019
    Lucky Brand Dungarees, LLC ("Lucky Brand" or the "Company"), a portfolio company of Leonard Green & Partners, L.P. and a leading designer, distributor and retailer of premium denim and apparel goods in North America, announced today the completion of a new refinancing transaction.
  • Univar Solutions Announces Closing of $500 Million Senior Notes and $400 Million Term Loan
    November 25, 2019
    The new Term B-5 Loan Facility will exist in conjunction with the Company's existing Term B-3 loan facility and Term B-4 loan facility (collectively with the Term B-5 Loan Facility, the "Senior Term Facilities"). The Senior Term Facilities are senior secured obligations of Univar Solutions USA and Univar Netherlands and are guaranteed by the Company and certain of its subsidiaries.
  • TIP Announces the Increase of Its RCF Facility and New Raise Term Debt
    November 25, 2019
    On 21 November 2019, TIP, a portfolio company of I Squared Capital, announced that it had successfully: increased its existing Revolving Credit Facility (RCF) from €967 million to €1,150.5 million with no change in pricing or structure.raised €274.5 million in the private placement term debt markets for the first time. The term loan tenor is seven years.
  • FSW Funding Hires Director of Underwriting
    November 25, 2019
    FSW Funding, a Phoenix-based company specializing in financing solutions for small to mid-size businesses, recently hired Patrick Cooper as Director of Underwriting. FSW continues to grow both its factoring and asset-based lending portfolios which dictates the need to increase the underwriting staff.
  • Austin Financial Services Provides a $5.5MM Revolver and Term Loan Credit Facility to a Tier 1 OEM Supplier of Plastic and Metal Components
    November 25, 2019
    Austin Financial Services, Inc. (AFS) is pleased to announce the closing of a $5.5MM AR and Inventory revolver and M&E Term Loan to a tier 1 OEM supplier of plastic and metal components located in the Southeastern U.S. The Company had outgrown its line of credit and was to looking to maximize the value of its assets and improve its liquidity position.
  • North Avenue Capital Ranks 4th in the Nation Among USDA B&I Lenders in 2019
    November 25, 2019
    North Avenue Capital (NAC), a specialized commercial lender headquartered in Northeast Florida, has its eyes set on closing 2019 with over $140 Million in USDA Rural Loans to businesses across America. The USDA Rural Development Program works to create and save jobs in areas outside of metro areas, and NAC is committed to exclusively offering USDA Business & Industry (B&I) Loans nationwide with a focus on building businesses, growing economies, and creating jobs.
  • Crestmark Equipment Finance President Thomas R. Rutherford Named to ELFA’s 2020 Board of Directors
    November 25, 2019
    The Equipment Leasing and Finance Association recently announced its new board of directors and officers at its 58th annual convention on October 29. An active member of ELFA, this is Rutherford’s first time serving on the Board of Directors, where he will serve one three-year term on a staggered basis.
  • Earthstone Energy, Inc. Announces New Five-Year Revolving Credit Facility with $325 Million Borrowing Base
    November 25, 2019
    Wells Fargo Securities, LLC and RBC Capital Markets acted as Joint Lead Arrangers for the syndication of the New Credit Facility and Wells Fargo Bank, National Association is acting as Administrative Agent.
  • Hofstra Law Awards 2019-2020 Recipient of Moritt Hock & Hamroff Fellowship
    November 25, 2019
    The Maurice A. Deane School of Law at Hofstra University has named Brian Primm as the recipient of the 2019-2020 Moritt Hock & Hamroff Business Law Honors Fellowship. The Fellowship is awarded to an incoming law student who has demonstrated outstanding academic achievements and an interest in pursuing a career in business law.
  • Alvarez & Marsal Expands Public Sector Services with New Hires in Houston and New York
    November 25, 2019
    Leading global professional services firm Alvarez & Marsal (A&M) has expanded its Public Sector Services practice with the addition of Michael Carrasco as Managing Director in Houston, and Jay Nagy as Senior Director in New York. Their appointments demonstrate A&M’s strong commitment to assist local, state and federal agencies and their private sector partners cope with increasing costs and enhance services for their constituents and stakeholders.
  • Umpqua Bank Names Jonathan Dale Regional Director of Commercial and Corporate Banking
    November 25, 2019
    Umpqua Bank, a subsidiary of Umpqua Holdings Corporation (UMPQ), announced today that Jonathan Dale has been named regional director of commercial & corporate banking to support the growth needs of enterprising businesses across Portland Metro, Eastern Washington and Idaho. Dale's addition comes as Umpqua continues to prioritize supporting middle market companies in the region.
  • Wilmington Trust Expands Global Loan Agency Services Team with Two Key Hires
    November 25, 2019
    Wilmington Trust, part of the M&T Bank Family and a leader in corporate and institutional services, announced the expansion of its Loan Agency Services business, bringing on Medita Vucic as Head of U.S. Agency Loan Services and Antony Girling as Senior Relationship Manager in London. Vucic reports to Tim Mowdy, the firm's Capital Markets Agency Services Leader in the U.S., while, Girling reports to Elaine Lockhart, European Product Leader for Loan Agency Services.
  • CWB Franchise Finance Partners with 3G Equity Inc.
    November 25, 2019
    CWB Franchise Finance (CWB), a division of CWB Financial Group, has provided an acquisition and refinancing term loan and revolving line of credit to 3G Equity Inc. for its 10-hotel portfolio.
  • FIS Announces Proposed Offering of Senior Notes
    November 25, 2019
    J.P. Morgan Securities plc, Merrill Lynch International, MUFG Securities EMEA plc and Wells Fargo Securities International Limited are joint book-running managers for the Senior Notes offering.
  • Bibby Financial Services Canada Supports Ontario Emergency Relief Restoration Company with $1M in Funding
    November 21, 2019
    Previously funded by another factor, the company contacted BFS looking for better customer service and lower rates. With BFS’ factoring facility, the client was able to retain a significant contract and fund their day to day operations as the business grows.
  • David Wagner Joins Houlihan Lokey as a Senior Advisor Focused on LIBOR Transition in an Expansion of the Firm's Portfolio Valuation and Fund Advisory Services Practice
    November 21, 2019
    Houlihan Lokey is pleased to announce that David Wagner has joined the firm as a Senior Advisor for the Portfolio Valuation and Fund Advisory Services practice. Mr. Wagner will lead the firm’s newly established LIBOR Transition Advisory Services practice to assist clients on the multitude of issues arising from the impending cessation of the London Interbank Offered Rate (LIBOR) and other interbank offered rates (IBORs), as well as their replacements.
  • Great American Group Advisory and Valuation Services Names David Seiden Managing Director
    November 21, 2019
    Great American Group Advisory and Valuation Services, LLC (“Great American”), a B. Riley Financial company, today announced that David Seiden has assumed the role of Managing Director responsible for overseeing the firm’s appraisal, valuation and lending client relationships across the Southeast and Southwest regions of the United States.
  • Hilco Corporate Finance Delivers Cautionary M&A Perspective As Massive Aramco IPO, Walgreens Boots LBO Loom Ahead
    November 21, 2019
    Hilco Corporate Finance has issued a timely and relevant perspective on the highly competitive environment surrounding the current global M&A market, as sellers are firmly in control and transactions are being valued and, ultimately, bid-up to excessive multiples.
  • 84 Lumber Amends and Extends Senior Secured Term Loan B and Asset Based Revolving Credit Facility
    November 21, 2019
    84 Lumber Company, the nation's leading privately-held building materials supplier, announced it has entered into a new 7-year $310 million Senior Secured Term Loan B Facility and 5-year $400 million Asset Based Revolving Credit Facility. The proceeds will be used to refinance the $307.5 million outstanding Term Loan B and $400 million ABL Revolver. In addition to extending the maturities, the Term Loan B reduced pricing by 100 basis points to LIBOR plus 425 basis points. As a result of the refinancing, the company now has no debt maturities prior to 2024. Wells Fargo Securities and PNC Capital Markets served as Joint Lead Arrangers and Bookrunners on the transaction.
  • Avcorp Announces Extension of Credit Facilities
    November 21, 2019
    Avcorp Industries Inc. (TSX: AVP) (the "Corporation" or "Avcorp" or the "Avcorp Group") is pleased to announce that it has entered into agreements to extend the term and increase certain credit facilities with its current lender. The credit facilities are supported by a major and material customer of the Company by way of guarantee.
  • Mercuria Successfully Closes Oversubscribed Secured Revolving Credit Facility Of US$ 1,900,000,000 In Financing For Its North American Business
    November 21, 2019
    Societe Generale, MUFG Bank Ltd, Natixis, New York Branch, ABN Amro Capital USA LLC and ING Capital LLC were Joint-Lead Arrangers for the Facility. Societe Generale acted as sole coordinator, Facility Agent and Collateral Agent while MUFG Bank Ltd, Natixis, New York Branch, ABN Amro Capital USA LLC and ING Capital LLC acted as Co-Syndication Agents. Credit Agricole Corporate and Investment Bank, Cooperatieve Rabobank U.A., New York Branch and Mizuho Bank, Ltd. joined the Facility as Co-Documentation Agents and a further ten banks participated at various commitment levels.
  • Eastern Bank Expands Asset Based Lending Team
    November 21, 2019
    Eastern Bank, America’s oldest and largest mutual bank, is pleased to announce that Daniel J. Bolger has joined its Commercial Lending Division as Senior Vice President, Asset Based Lending. Dan has spent his entire career in banking focused on Asset Based Lending (ABL) transactions with increasing responsibility.
  • Bumble Bee Foods Enters Into Asset Purchase Agreement and Commences Voluntary Chapter 11 Proceeding in U.S
    November 21, 2019
    Bumble Bee Foods, one of North America’s largest branded shelf-stable seafood companies, announced today that it has entered into an asset purchase agreement with affiliates of FCF Co., Ltd., which has agreed to acquire the company’s assets for approximately $925 million.
  • Northern Oil and Gas, Inc. Announces Success of Consent Solicitation and Closing Schedule for New Credit Facility
    November 21, 2019
    Northern Oil and Gas, Inc. today announced the results of its previously announced consent solicitation pursuant to which Northern solicited consents from holders of its outstanding 8.50% Senior Secured Second Lien Notes due 2023 to amend the indenture governing the Notes. Northern plans to settle the Consent Solicitation and related transactions and a newly amended and expanded $800 million Senior Secured Revolving Credit Facility.
  • Crestmark Appoints John Trendell II as Business Development Officer
    November 20, 2019
    Crestmark is pleased to announce that John Trendell II has been named a business development officer where he has been serving as underwriting manager since 2014. John is based in Troy, Michigan and will report to James Farrell, senior vice president, sales manager.
  • Tennessee Bank & Trust Adds Long-Time Industry Veterans to Leadership Team
    November 20, 2019
    Tennessee Bank & Trust, a full-service bank servicing individuals and businesses in middle Tennessee, today announced the additions of Chet Alexander as Chief Credit Officer and Sandi Lanier as Executive Vice President, Operations and Compliance. In these roles, Alexander and Lanier will oversee all credit and lending restructuring and the strategic operations and lending compliance for the bank, respectively.
  • Morrison & Foerster Strengthens Global Finance Transactions Capabilities with Accomplished Partner in New York
    November 20, 2019
    Morrison & Foerster, a leading global law firm, is pleased to announce that Jay Gavigan has joined the firm’s New York office as a partner in its Lending + Financial Transactions Group. Mr. Gavigan is an internationally recognized finance lawyer who brings to the firm 25 years of experience advising clients on a wide range of financial transactions, including acquisition and leveraged finance, project finance, asset finance, syndicated credits, real estate finance, and workouts.
  • BBVA USA Promotes Industry Veteran Jon Rebello to the Position of Austin CEO
    November 20, 2019
    Rebello was previously the bank’s Texas Border & Gulf Coast Region CEO, where he oversaw the El Paso, Laredo, Rio Grande Valley, Corpus Christi and Beaumont markets. BBVA’s previous Austin CEO, Dillan Knudson, has accepted the position of BBVA USA Houston CEO.
  • CIT Launches One Million Meals Campaign to Fight Hunger
    November 20, 2019
    CIT Group Inc. (NYSE: CIT) today announced the start of the second annual One Million Meals campaign in partnership with Feeding America® to fight hunger this holiday season. Customers, employees and social media followers are invited to join in donating One Million Meals1 to people in need. Participants can help direct the donations by choosing to support Feeding America's Mobile Pantry Program or MealConnect Program.
  • Loughton Mifflin Harcourt Announces Pricing of Private Offering of Senior Secured Notes Due 2025
    November 20, 2019
    Learning company Houghton Mifflin Harcourt ("HMH" or the "Company") (HMHC) announced today that it priced an offering of $306.0 million aggregate principal amount of 9.000% Senior Secured Notes due 2025 (the "Notes"). The Notes will be issued by the Company's wholly owned subsidiaries, Houghton Mifflin Harcourt Publishers Inc., Houghton Mifflin Harcourt Publishing Company and HMH Publishers LLC. The Notes were offered in a private offering exempt from registration under the Securities Act of 1933, as amended (the "Securities Act").
  • Moritt Hock & Hamroff Announces New Resource for the Secured Lending and Equipment Finance Sectors
    November 19, 2019
    Moritt Hock & Hamroff LLP (MH&H) announced a new resource for companies in the secured lending and equipment finance industries. The firm’s Secured Lending, Equipment & Transportation Finance practice area has created a blog featuring posts that provide timely insights on many legal issues facing these industries.
  • Ware2Go Announces Collaborative Agreement With Fundera
    November 19, 2019
    Ware2Go, a UPS Company and on-demand fulfillment network designed to help merchants enhance their delivery experiences, today announced a collaboration with Fundera, the leading online marketplace for small business financial solutions. The agreement will ease access to the services and insights merchants need to grow by combining cutting-edge logistics capabilities with a myriad of financing options from top bank and online lenders, as well as credit card issuers.
  • Byline Sponsor Finance Supports Benford Capital Partners and James Abraham in Their Recapitalization of Warehouse-Lighting
    November 19, 2019
    Byline Sponsor Finance ("BSF") announced that it has provided revolver and term credit facilities to finance Benford Capital Partners' recapitalization of Warehouse-Lighting (“WHL” or the “Company”). BSF was represented by Duane Morris, LLP.
  • CIT Receives OCC Approval to Acquire Mutual of Omaha Bank
    November 19, 2019
    CIT Group Inc. (NYSE: CIT) today announced that the Office of the Comptroller of the Currency (OCC) has provided regulatory approval for Mutual of Omaha Bank to be merged into CIT's banking subsidiary, CIT Bank, N.A. Subject to the receipt of certain other regulatory approvals and waivers and completion of the other customary closing conditions, CIT expects to close the transaction in the first quarter of 2020.
  • The Flowr Corporation Closes $25 Million Credit Facility
    November 19, 2019
    The Flowr Corporation (TSXV: FLWR; OTC: FLWPF) (“Flowr” or the “Company”) is pleased to announce that it has closed its previously announced credit facility from a syndicate of lenders led by ATB Financial (“ATB”) and including Farm Credit Canada. The $25 million facilities consist of a $24.5 million recapitalization term facility and a $500,000 revolving operating credit facility (together the “ATB Credit Facilities”).
  • Kevin Fretz Named BBVA USA Director of Franchise Finance
    November 19, 2019
    BBVA USA announced today that it has promoted Kevin Fretz to the position of BBVA USA Director of Franchise Finance. Fretz will be tasked with managing the bank's franchise finance division, helping clients throughout the customer journey of obtaining, operating and maintaining their franchise. He boasts more than 20 years of experience in the financial industry in various roles.
  • IPIC® Under New Ownership After Chapter 11 Restructuring
    November 19, 2019
    iPic Theaters, LLC has acquired substantially all of the operating assets of the affiliated debtors in the jointly administered bankruptcy cases styled iPic-Gold Class Entertainment, LLC in the United States Bankruptcy Court for the District of Delaware.
  • GlobalSCAPE Announces $55 Million Credit Facility
    November 19, 2019
    GlobalSCAPE, Inc. (NYSE American: GSB) (the "Company"), a worldwide leader in the secure movement and integration of data, today announced it has entered into a five-year, $55 million senior secured credit facility with a syndicate of banks led by J.P. Morgan.
  • Dorsey & Whitney Names New Partners
    November 18, 2019
    Representing multiple offices and legal specialties, the new partners span Dorsey’s breadth of practices.
  • Banc of California Names Lynn Hopkins Executive Vice President and Chief Financial Officer
    November 18, 2019
    Ms. Hopkins succeeds Executive Vice President and CFO John Bogler, who resigned from the Company effective November 13, 2019. Mike Smith, the Company’s Chief Accounting Officer, has been appointed interim CFO until Ms. Hopkins joins the Company on December 9, 2019.
  • United Bankshares, Inc. and Carolina Financial Corporation to Combine to Form Leading Community Bank in the Southeast and Mid-Atlantic
    November 18, 2019
    United Bankshares, Inc. (“United”) (NASDAQ: UBSI), the parent company of United Bank (“United Bank”), and Carolina Financial Corporation (“Carolina Financial”) (NASDAQ: CARO), the parent company of CresCom Bank (“CresCom”), today announced that they have entered into a definitive merger agreement.
  • Lazard UK Investment Banking Launches New Venture and Growth Banking Team
    November 18, 2019
    Lazard Ltd (NYSE: LAZ) announced today that it has launched a new team called Lazard Venture and Growth Banking and appointed Garri Jones and Nick James as Managing Directors in its UK Investment Banking business. Garri and Nick will join in January from Numis where they ran a successful ventures practice.
  • Enviva Partners, LP Announces Launch of $450.0 Million Offering of Senior Notes and Provides Notice of Conditional Early Redemption of the Existing 2021 Notes
    November 18, 2019
    Enviva Partners, LP (NYSE: EVA) (the “Partnership” or “we”) today announced that, subject to market conditions, it intends to offer, with its wholly owned subsidiary Enviva Partners Finance Corp., $450.0 million in aggregate principal amount of senior unsecured notes due 2026 (the “2026 Notes”) in a private placement to eligible purchasers.
  • Telesat Canada Announces Proposed Amendment to Existing Credit Agreement and Proposed Secured Notes Offering
    November 18, 2019
    Telesat Canada (“Telesat”) today announced that it entered into discussions on November 15, 2019 to amend its existing credit agreement, dated March 28, 2012, among Telesat and Telesat LLC, as borrowers (the “Borrowers”), the guarantors party thereto, the lenders party thereto from time to time, JPMorgan Chase Bank, N.A., as administrative agent and collateral agent for the secured parties and the other financial institutions party thereto (such agreement, as amended prior to the date hereof, the “Existing Credit Agreement”).
  • GigaMonster Announces Significant Fund Raise Through Barings Investment
    November 18, 2019
    New capital enables expansion of GigaMonster’s Universal Access Network to additional customers in multifamily communities and commercial buildings.
  • Cambridge Savings Bank’s ABL Team Closes Deal with Worcester Envelope Company
    November 18, 2019
    Cambridge Savings Bank (CSB) announced the closing of a senior secured credit facility with Worcester Envelope Company, a print and mail solutions company headquartered in Auburn, Massachusetts. The credit facility provided by CSB’s Asset-Based Lending Team allowed Worcester Envelope to refinance their existing bank debt and will support future working capital needs of the company.
  • Access Capital Provides $4.6 Million for Acquisition By Advance Employment Services, LLC
    November 18, 2019
    Access Capital is pleased to share news of its latest transaction with The managing partners of Advance Employment Services, LLC (“Advance”) recently engaged Access Capital to finance the purchase of the commercial staffing business of the AccessPoint family of companies, a professional employer organization in the greater Michigan area.
  • Jason M. Rimland Joins Tannenbaum Helpern as a Partner in the Firm’s Corporate Practice
    November 18, 2019
    Jason M. Rimland brings over 20 years of transactional experience to Tannenbaum Helpern. He represents private investment funds, emerging and middle market companies, entrepreneurs, financial institutions and family offices in domestic and cross-border mergers, acquisitions and dispositions; debt and equity financing; venture capital; private placements; secured lending transactions; fund formations, and licensing agreements.
  • Direct Lenders Ready for Bonanza as US Economy Cools
    November 18, 2019
    Private credit funds with deep pockets, capital flexibility and sticky investments are positioning themselves for the yield bonanza that could follow if a cooldown in the US economy was to further shutter bank liquidity and investor appetite for broadly syndicated loans.
  • Cloud Computing, Customer Relationship Tools, Cyber Security Lead Priorities for Small Businesses
    November 18, 2019
    - Ongoing investments in technology and talent are critical to staying competitive, according to CIT survey - Investing in technology cited as a top driver of growth over the past 12 months - Current workforces have the technology skills to keep pace with digital transformation, but hiring tech-savvy employees remains a focus
  • Octet Wins Citi Fintech Payment Award
    November 18, 2019
    Leading global bank Citi has recognized Octet’s unique technology-driven finance offering, highlighting the best-in-class security offered by the global supply chain finance specialist. Citi honoured Octet for its innovative financing solutions to counter one of the biggest problems facing the global fintech sector – providing assurance for payments.
  • Strawberry Fields REIT Acquires A Skilled Nursing Facility for $3.15 Million
    November 18, 2019
    Strawberry Fields REIT, LLC (Strawberry Fields), an owner and lessor of skilled nursing facilities, long-term acute care hospital facilities and assisted living facilities in the Midwestern and Southern U.S., announced it has acquired a skilled nursing facility located in Indiana. The purchase price was $3.15 million, and the deal was completed with all cash.
  • Legacy Reserves Announces Confirmation of Plan of Reorganization
    November 18, 2019
    Legacy Reserves Inc. ("Legacy") and certain of its subsidiaries (collectively, the "Company") announced today that the U.S. Bankruptcy Court for the Southern District of Texas confirmed the Company's Joint Chapter 11 Plan of Reorganization (the "Plan").
  • Utica Leaseco, LLC Announces $750,000 Transaction
    November 18, 2019
    Utica Leaseco, LLC provided a $750,000 true lease secured by Machinery and Equipment to a medical company located in California. Utica provided the working capital for this company for new purchases.
  • Keith Herron Retiring From Regions Bank After 31-year Career
    November 18, 2019
    Following a distinguished career spanning more than 30 years, Regions Bank announced today that Keith Herron, Senior Executive Vice President, Head of Corporate Responsibility and Community Engagement, will retire from Regions.
  • Pioneer Bank Hires KeyBank Executive for Commercial Lending
    November 18, 2019
    Pioneer Bank says it has hired former KeyBank executive Rob Nichols as senior vice president of commercial development. Nichols is known for his expertise in startup funding and comes to Pioneer Bank at a time when it is dealing with the collapse one of its major customers, the cloud-based payroll firm MyPayrollHR.
  • Briar Capital Real Estate Fund announces a $4.785MM real estate loan to a Fashion Products Wholesaler
    November 18, 2019
    Briar Capital Real Estate Fund ("BCREF") (www.BriarCapital.com) is pleased to announce it has provided a $4.785MM real estate term loan to a Fashion Products Wholesaler located in Tampa, FL. The loan is secured by the company's owner-occupied office/warehouse facility.
  • Cogent Bank Specialty Lending Team Closes Over $45 Million in New Transactions
    November 15, 2019
    Michael Skat, Managing Director for Cogent Bank’s Specialty Lending Group stated, “We are off to a great start building this unique product line in a community banking environment. Our thoughtful approach in assembling an experienced, client focused team combined with innovative technology helps our customers manage their business more efficiently and effectively. The creation of the Specialty Lending Group is a testimony to the progressive mindset of our Executive Management Team and our Board of Directors.”
  • Holland & Hart Enhances Real Estate Development and Finance Practice with Terry Gorrell, Ned Giles, and Kevin Giles
    November 15, 2019
    Holland & Hart announced the addition of partner Terry Gorrell, of counsel Ned Giles, and associate Kevin Giles, deepening Holland & Hart’s multifaceted real estate development and finance practice. Gorrell and Ned Giles join the firm’s Denver office, while Kevin Giles joins the Aspen office.
  • Survey Produced by Chubb and the National Center for the Middle Market Finds Growth Rate Slowing and Perception of Risk Escalating among Middle Market Companies
    November 15, 2019
    Chubb and the National Center for the Middle Market (NCMM) – housed at The Ohio State University Fisher College of Business – have published a summary of findings from the most recent Middle Market Indicator (MMI), which underscores a slowing growth rate and a perception of escalating risk among middle market companies. Issued quarterly, the MMI explores current and emerging macro trends along with business risks across the middle market, measuring past and predicted revenue growth, employment growth, economic confidence levels and business investment.
  • AEC Provides a $2,500,000 Finance Facility for Acquisition and Working Capital Needs of Indiana-based Sheet Metal Fabricator
    November 15, 2019
    Advanced Energy Capital provided the funding for Alpine 4 Technologies, Ltd. (Alpine) to close on their latest acquisition of Deluxe Sheet Metal Inc. Deluxe is a company that has been in business for over 45 years, specializing in all aspects of Commercial and Industrial Sheet Metal installations.
  • CareerFlex, an Innovative Tech-Enabled Outplacement Service Launches Today
    November 15, 2019
    The new cloud-based platform is specifically designed to offset traditional outplacement hurdles. Convenient, comprehensive, and cost effective, our technology prepares your displaced team members for their next chapter while helping you get the most out of your closing event.
  • Sandy Walia to Lead Branch Banking in Northern California and the Pacific Northwest
    November 15, 2019
    Union Bank named Sandy Walia as Regional President for Northern California and the Pacific Northwest Branch Banking division. Walia will oversee a network of 111 branches and nearly 600 employees in the region. In addition, she will continue to serve as Managing Director and Head of Client Services for PurePoint Financial, which is a division of MUFG Union Bank.
  • SSG Advises Clarus Linen Systems in the Sale of its Assets and Operations to Multiple Buyers
    November 15, 2019
    SSG Capital Advisors, LLC ("SSG") acted as the investment banker to Centerstone Linen Services, LLC d/b/a Clarus Linen Systems ("Clarus" or the "Company") in the sale of its assets and multiple operations to Crown Health Care Laundry Services ("Crown"), PureStar Linen Group, LLC ("PureStar"), and Clean Textile Systems, LP d/b/a CleanCare ("CleanCare"). The sales were effectuated through a Chapter 11 Section 363 process in the U.S. Bankruptcy Court for the Northern District of New York.
  • Allen Parker to Leave Wells Fargo to Pursue Other Business Opportunities
    November 15, 2019
    Wells Fargo & Company today announced that General Counsel C. Allen Parker has made the decision to leave the company effective March 31, 2020, to pursue other business opportunities. Parker joined Wells Fargo as General Counsel in March 2017, served as interim CEO and President from March 2019 to October 2019, and then returned to the General Counsel role.
  • CIBC Innovation Banking Backs Madwire® with US$16 Million of New Financing
    November 15, 2019
    CIBC Innovation Banking is pleased to announce two separate transactions totaling US$16 million for Madwire®, LLC, a Fort Collins, Colorado-based technology company which provides software and services to meet the business management and marketing needs for small-to-medium sized businesses (SMBs).
  • Abraxas Announces Debt Refinancing and New Borrowing Base, Ample Liquidity and Enhanced Balance Sheet Stability
    November 15, 2019
    Abraxas Petroleum Corporation (“Abraxas” or the “Company”) (NASDAQ:AXAS) today announced it has entered into a $100 million Senior Secured Second Lien Term Loan Facility (“Second Loan Facility”) with Angelo Gordon Energy Servicer, LLC. Net proceeds from the financing are estimated to be approximately $95 million, all of which was used to pay down the Company’s revolving credit facility.
  • Michael Schechter Joins Ares Management Corporation as Head of Credit Trading
    November 15, 2019
    Ares Management Corporation (NYSE: ARES) announced today that Michael Schechter has joined the firm as Partner and Head of Credit Trading. Based in Los Angeles, Mr. Schechter will oversee the trading of all bank loans, high yield and related credit instruments in the U.S. and Europe.
  • High Road Cap Sells Banner Solutions; Second Exit from Second Fund
    November 15, 2019
    High Road Capital Partners (www.highroadcap.com) announced the sale of its portfolio company Banner Solutions (www.bannersolutions.com) to Tailwind Capital. The sale, which closed on October 31, 2019, marks the second exit for High Road Capital Partners Fund II.
  • Expedition Closes $100M Revolving Credit Facility to Support Ongoing Rockies-Focused Water Midstream Development
    November 13, 2019
    Expedition Water Solutions ("Expedition"), the leading midstream produced water infrastructure company in the Rockies, announced today it has expanded its revolving credit facility to $100 million. Cadence Bank ("Cadence") served as lead arranger and administrative agent.
  • Bibby Financial Services Appoints Scot Barber as Regional Sales Manager - East
    November 13, 2019
    Bibby Financial Services is delighted to announce a new addition to our team, Scot Barber. Mr. Barber joined our team in mid-October as our Regional Sales Manager - East. We are excited about the wealth of experience and dynamism in building partner relations that Mr. Barber brings to BFS.
  • Tradewind Announces $2.5 Million Credit Facility for Sustainable Homewares Company based in China and the USA
    November 13, 2019
    Tradewind has closed a $2.5 million trade finance facility for a company based in China and the USA that sells sustainable, ecologically sourced, and manufactured homewares. The company exports to major retailers in the US including Amazon, Target, Kroger, and The Container Store, as well as to distributors in key international markets globally.
  • Rosenthal Provides $1 Million Purchase Order Finance Facility for International Women’s Footwear Designer
    November 13, 2019
    Rosenthal & Rosenthal, Inc., the leading independent factoring, asset-based lending and purchase order financing firm in the United States, today announced the completion of a recent $1 million inventory production finance deal for a well-known designer and importer of women’s footwear.
  • Integer Announces Commitments to Reprice and Extend Maturity of its Revolving Credit Facility and Term Loan A; Launches Term Loan B Repricing
    November 13, 2019
    Integer Holdings Corporation (NYSE:ITGR), a leading medical device outsource manufacturer, today announced that it has received commitments to extend the maturity for its existing Revolving Credit Facility and Term Loan A to October 2022, and reduce the respective pricing by 25 basis points.
  • LPL Financial Announces Completion of Leverage-Neutral Transaction Amending Senior Secured Credit Facilities and Offering Senior Unsecured Notes
    November 13, 2019
    LPL Financial Holdings Inc. (NASDAQ: LPLA) (together with its subsidiaries, the “Company”) today announced that its wholly owned subsidiary, LPL Holdings, Inc. (“LPL Holdings”), has completed the previously announced amendment of its senior secured credit facilities and offering of senior unsecured notes (the “senior notes”).
  • Houghton Mifflin Harcourt Announces Proposed Private Offering of Senior Secured Notes
    November 13, 2019
    Learning company Houghton Mifflin Harcourt ("HMH" or the "Company") (HMHC) announced today that its wholly owned subsidiaries, Houghton Mifflin Harcourt Publishers Inc., Houghton Mifflin Harcourt Publishing Company and HMH Publishers LLC, will offer, subject to market and other conditions, $350 million aggregate principal amount of Senior Secured Notes due 2025 (the "Notes") in a private offering exempt from registration under the Securities Act of 1933, as amended (the "Securities Act").
  • FirstClose Completes a Credit Facility with Pacific Western Bank; Westlake Securities Serves as Advisor
    November 13, 2019
    FirstClose (the "Company"), a leading provider of technology solutions for mortgage lenders nationwide, announced today that it has completed a credit facility with Pacific Western Bank.
  • Locally-Led Bridgewater Bank Announces Equipment Finance Division
    November 13, 2019
    Bridgewater Equipment Finance will provide a variety of financing solutions to commercial clients, including financing for equipment, vehicles, facilities and other purchases needed to fuel business growth.
  • BFS Capital Names Brian Simmons as Chief Operating Officer
    November 13, 2019
    BFS Capital, a leader in small business lending, today announced the appointment of Brian Simmons as Chief Operating Officer. Simmons will join the executive team reporting to the company’s CEO Mark Ruddock.
  • SG Credit Partners Adds Bridge Loan Product to Solve For High Net Worth Liquidity Issues
    November 13, 2019
    SG Credit Partners ("SGCP") now offers an interest only bridge loan product designed to provide a liquidity solution for asset rich, liquidity constrained entrepreneurs when speed and certainty to close are required. We call it the "Personal Financial Statement (PFS) Loan."
  • Change Capital Appoints Scott Bernstein as General Counsel
    November 13, 2019
    Scott brings to his role extensive bankruptcy, reorganization, and commercial litigation experience, representing financial institutions, financial services companies, and secured and unsecured creditors. He will provide counsel and representation to Change Capital in these areas as well all legal matters.
  • Dean Foods Files for Chapter 11 Bankruptcy Reorganization
    November 13, 2019
    Top U.S. milk processor Dean Foods Co. filed for Chapter 11 bankruptcy and is in advanced talks with Dairy Farmers of America Inc. about a potential sale. Dean listed assets and liabilities of as much as $10 billion each in court papers filed in Houston, and said in a statement it has commitments for $850 million in bankruptcy financing from existing lenders led by Rabobank.
  • Ferrellgas, L.P., Reaches Agreement With Lender Regarding Alleged Defaults
    November 13, 2019
    Ferrellgas, L.P., the operating partnership of Ferrellgas Partners, L.P. (NYSE:FGP) (“Ferrellgas”) announced today that it reached an agreement with TPG Specialty Lending, Inc., the administrative agent (“TPG”) under its senior secured credit facility regarding alleged events of default that occurred under the credit facility.
  • Middle Market Companies Boosting Tech Upgrades to Drive Growth
    November 13, 2019
    Computer hardware and software upgrades are topping the list of investments planned by middle market companies, which regard technology as a key driver of their growth, according to a new survey conducted by The Harris Poll[1] for CIT Group Inc. (NYSE: CIT).
  • Austin Financial Services Provides a $3MM Revolving Credit Facility to a Telecommunications Company
    November 12, 2019
    Austin Financial Services, Inc. (AFS) is pleased to announce the closing of a $3MM ABL credit facility to a telecommunications company who specializes in the design, component procurement, installation, and training for specialized IT electronics systems servicing end-user markets in the western U.S.
  • Big Shoulders and Iroquois Industrial Purchase Assets of Tennessee Company
    November 12, 2019
    Big Shoulders Capital and Iroquois Industrial Group have formed a joint venture to purchase the assets of Savannah All American Millwork and Fabrication in Savannah, Tennessee. The purchase will save approximately 100 jobs which may have otherwise have been eliminated.
  • J D Factors Announces Factoring Facilities
    November 12, 2019
  • Fifth Third Business Capital Provides $8 Million to Troy Lee Designs
    November 12, 2019
    Fifth Third Business Capital, a division of Fifth Third Bank, announced it acted as sole lender and administrative agent on the funding of an $8,000,000 senior credit facility to Troy Lee Designs, LLC. Based in Corona, California, Troy Lee Designs is a designer and distributor of high-quality helmets, apparel, safety gear and accessories used in the off-road motorcycling and mountain biking industries.
  • Encina Business Credit Provides $15 Million Facility to a Coal Mining Company
    November 12, 2019
    Encina Business Credit, LLC (EBC) announced today that it has provided a $15 million commitment as part of a $135 million senior secured credit facility to a coal mining company. The company operates transloading and mining equipment facilities. The loan consists of a revolving line of credit secured by trade accounts receivable and inventory.
  • Capital Southwest Supports Five Points Recapitalization of GrammaTech
    November 11, 2019
    Southwest Corporation (“Capital Southwest”) (CSWC), an internally managed business development company focused on providing flexible financing solutions to support the acquisition and growth of middle market businesses, announced today that it supported the recent recapitalization of GrammaTech, Inc. (“GrammaTech”) by Five Points Capital, Pleasant Bay Capital, Crescendo Capital, new CEO Mike Dager, and existing management.
  • MedShift Secures Financing to Accommodate Continued Expansion
    November 11, 2019
    MedShift today announced the execution of a new $13.5 million credit facility with First National Bank (FNB). The investment will refinance all existing company loans and provide device acquisition capital to support MedShift's projected growth.
  • City National Bank Appoints Rick Hariman to Succeed John Beale as Chief Information Officer
    November 11, 2019
    City National Bank, America’s Premier Private and Business Bank®, today announced that Rick Hariman will join the company as executive vice president and chief information officer. Hariman will succeed John Beale, the current chief information officer, who has decided to retire in January after 23 years with City National.
  • RPT Realty Announces Closing of Amended and Restated Unsecured Credit Agreement
    November 11, 2019
    KeyBanc Capital Markets Inc., BMO Capital Markets, and Capital One, National Association served as joint-lead arrangers for the Facility with KeyBank National Association as administrative agent and BMO Capital Markets and Capital One, National Association as syndication agents. Branch Banking and Trust Company served as documentation agent.
  • UMB Capital Finance Continues to Fund Millions in Senior Debt Capital Needs
    November 11, 2019
    UMB Capital Finance, through Marquette Business Credit, LLC, continues to fund millions in senior debt capital needs with the recent closings of two asset-based credit facilities. These new, secured lines provide further financing resources for Midwest Quality Gloves, Inc. and TJ Hale Company, LLC.
  • Monroe Capital Corporation BDC Announces Third Quarter 2019 Results
    November 11, 2019
    Monroe Capital Corporation (Nasdaq: MRCC) (“Monroe”) today announced its financial results for the third quarter ended September 30, 2019.
  • Electrovaya Closes Credit Facility Agreement to Finance Purchase Orders
    November 11, 2019
    Electrovaya Inc. ("Electrovaya" or the "Company") (EFL.TO) (EFLVF) today announced that it has closed an agreement with a Canadian financial institution for a secured Cdn $5.5 million credit facility. The facility will support fulfilment of Electrovaya's recently announced purchase orders.
  • Howard Brownstein Named Fellow of American Bar Foundation
    November 10, 2019
    The Brownstein Corporation is pleased to announce that its CEO, Howard Brod Brownstein, has been named a Fellow of the American Bar Foundation. The Fellows of the American Bar Foundation (ABF) comprise a global honorary society of lawyers, judges, law faculty, and legal scholars who have demonstrated outstanding leadership in the profession and service to society.
  • J D Factors Announces Factoring Facilities
    November 10, 2019
  • Stonebriar Closes its Largest Securitization Transaction To Date at $685 Million
    November 10, 2019
    Stonebriar Commercial Finance (“Stonebriar”), a leading independent large-ticket commercial finance company, announced that it has closed its sixth commercial equipment asset-backed securitization (“ABS”), SCFET 2019-2, a $685 million ABS issuance with top tranches rated triple A.
  • Lake City Bank Promotes Stephanie R. Leniski to head Retail Banking division
    November 8, 2019
    Lake City Bank is pleased to announce that it has promoted Stephanie R. Leniski to Senior Vice President, Retail Banking Manager, a position in which she leads the Retail division for Lake City Bank, and joins the bank’s Management Committee. Leniski succeeds Kevin L. Deardorff, Executive Vice President, who has led the Retail Banking business since 1990.
  • We're Branching Out! Industrial Bank Acquires City National Bank of New Jersey in Newark
    November 8, 2019
    Since 1934, Industrial Bank has played a pivotal role in the growth and economic development of the Washington, DC metropolitan area through its essential products and services, customer care and community service. Today, the Bank announced it has acquired City National Bank of New Jersey, with two branches in New Jersey and one branch in Harlem, New York.
  • Bank of Southern California Names Troy Perry Managing Director, Business Banking
    November 8, 2019
    Bank of Southern California, N.A. (OTC Pink: BCAL), a community business bank headquartered in San Diego, is pleased to announce that Troy Perry has joined the company as Managing Director of Business Banking. He will be responsible for broadening Bank of Southern California's market presence by actively seeking new business opportunities throughout Los Angeles' Westside
  • Wells Fargo Names William M. Daley Vice Chairman of Public Affairs
    November 8, 2019
    Wells Fargo & Company (NYSE: WFC) today announced that William M. Daley has been named Vice Chairman of Public Affairs, effective November 13, 2019. Daley will serve on the Operating Committee and will report directly to CEO Charles Scharf.
  • TAB Bank Provides Commercial Printing Company in Illinois with a $3 Million Asset-Based Credit Facility
    November 8, 2019
    TAB Bank is pleased to announce it has provided a $3 million asset-based revolving credit facility for a commercial printing company located in Illinois. The new facility is extended through a multi-year agreement and will provide for the company’s ongoing working capital needs. The company provides print, marketing, and technology services for Fortune 500 clients.
  • Metro Phoenix Bank Expands its National Outdoor Media Lending Footprint into Times Square
    November 8, 2019
    Metro Phoenix Bank (MPHX) ("MPB") announced a sizable credit facility to Greyline Outdoor Advertising, further solidifying itself as a national leader in outdoor media lending. Greyline Outdoor Advertising is the 2nd largest outdoor advertising company in the greater Western New York region and is now expanding into New York City.
  • McDermott Super-Senior Debt May Be Prelude to a Bankruptcy Loan
    November 8, 2019
    McDermott International Inc.’s $1.7 billion super-senior credit facility could give an indication of terms if the struggling engineering and construction firm were to convert the debt into a bankruptcy loan. The facility consists of a $1.3 billion term loan and $400 million in letters of credit.
  • RPT Realty Announces Closing of Amended and Restated Unsecured Credit Agreement
    November 8, 2019
    KeyBanc Capital Markets Inc., BMO Capital Markets, and Capital One, National Association served as joint-lead arrangers for the Facility with KeyBank National Association as administrative agent and BMO Capital Markets and Capital One, National Association as syndication agents. Branch Banking and Trust Company served as documentation agent.
  • CoreSite Announces Amended and Expanded Credit Facility
    November 8, 2019
    CoreSite Realty Corporation (COR), a premier provider of secure, reliable, high-performance data center and interconnection solutions across the U.S., today announced that it has extended its debt maturity profile and expanded its credit facility with total borrowing capacity of $1.15 billion, including all arrangements with its syndicate of banks.
  • Frontier Communications Seeking New CEO Ahead of Restructuring
    November 8, 2019
    Frontier Communications Corp. has started the search for new management to take over the company after it completes what could be the biggest telecom restructuring in nearly two decades, according to people with knowledge of the matter
  • Spirit of Texas Bancshares, Inc. Completes Acquisition Of Chandler Bancorp, Inc.
    November 7, 2019
    Spirit of Texas Bancshares, Inc. (NASDAQ:STXB) ("Spirit"), the holding company for Spirit of Texas Bank, completed its acquisition of Chandler Bancorp, Inc. and its subsidiary, Citizens State Bank (together, "Citizens"), on November 5, 2019. Under the terms of the definitive agreement, Spirit issued 2,100,000 shares of common stock and paid an aggregate of $17,900,000 million in cash to the sole shareholder of Chandler Bancorp.
  • U.S. Bank Hires Dr. Tanushree Luke as Head of Artificial Intelligence
    November 7, 2019
    U.S. Bank has hired technology leader Dr. Tanushree Luke to lead Artificial Intelligence (AI) efforts at the company. In this role, she will drive the continued development of the AI practice within the U.S. Bank Innovation group and AI strategies across the enterprise.
  • Golub Capital Agents $1.6 Billion Loan To Support The Refinancing Of Risk Strategies By Kelso & Company
    November 7, 2019
    Golub Capital acted as the Administrative Agent on a $1.6 billion GOLD facility to support the refinancing of Risk Strategies, a portfolio company of Kelso & Company. GOLD financings are Golub Capital One-Loan Debt facilities. The deal represents Golub Capital’s largest unitranche loan to date.
  • Crossroads Provides $12 Million Inventory Revolver for the Benefit of a Distributor, Retailer and Wholesaler of Interior Fabrics
    November 7, 2019
    Crossroads Financial, a leading provider of inventory financing, has recently provided a $12 million inventory revolver for the benefit of a distributor, retailer and wholesaler of interior fabrics.
  • Rochester Gauges Acquires Fozmula Limited November 1, 2019
    November 7, 2019
    Rochester Gauges, LLC (“Rochester”), a designer and manufacturer of liquid level gauges and sensors, announced today that it has acquired 100% of the capital stock of Fozmula Limited (“Fozmula”) from HB4. The acquisition of Fozmula is part of a multi-year strategy to expand Rochester’s technical portfolio and global footprint within the liquid level measurement segment.
  • GA Global Partners to Conduct Auction of Venchurs Assets on November 14, 2019
    November 7, 2019
    GA Global Partners, LLC (“GA Global”), the wholesale and industrial subsidiary of Great American Group (a B. Riley Financial company), will conduct a public online auction of the assets of Venchurs Inc. on November 14, 2019. The auction will include the sale of Venchurs’ warehouse and distribution equipment, demo upfitted vehicles, as well as its remaining inventory of OEM and aftermarket automotive parts, which includes brand new tractor and backhoe attachments from agriculture machinery manufacturer, CNH Industrial (Case New Holland).
  • Utica Leaseco, LLC Announces Completion of Two Transactions
    November 7, 2019
    Utica Leaseco, LLC is pleased to announce the completion of two transactions totaling $2,750,000 during the November 4-8, 2019 week.
  • David Schoenrock Appointed EVP and Head of Global Accounts for Willis Re North America; Doug May Promoted to President
    November 7, 2019
    Willis Re, the reinsurance business of leading global advisory, broking and solutions company Willis Towers Watson (NASDAQ: WLTW), today announces the appointment of David Schoenrock to the new role of Executive Vice President and Head of Global Accounts for Willis Re North America, effective 23 December.
  • U.S. Debt Forum Releases Survey About National Debt Knowledge
    November 7, 2019
    U.S. National Debt rocketed past $23 Trillion. Some elected politicians, economists and others say, "the debt doesn't matter" or "no one cares." Not true - nationwide surveys of Individual Retail Investors and Registered Financial Advisors find:1) strong concerns, 2) they are not knowledgeable, and 3) they overwhelmingly desire to learn about the debt. "Frankly, the survey findings are very troubling," said Michael Doorley, founder of U.S. Debt Forum.
  • Back from the Field, Aerial Access Equipment’s Entire Fleet of Construction Rental Assets Hits the Block in a Two-Day Final Auction
    November 7, 2019
    With all rental units returned to AAE’s yards, Tiger Group to liquidate more than 700 aerial lift and construction fleet assets—including late-model, rental-ready equipment—on November 19th and 20th.
  • Casino Group: New Revolving Credit Facility as Part of the Refinancing Project
    November 7, 2019
    In the context of its refinancing plan announced on 22nd October, Casino is currently putting in place a new revolving credit facility, maturing in October 2023, in order to extend its confirmed credit lines in France.
  • ATSG Amends Bank Credit Facility
    November 7, 2019
    Air Transport Services Group, Inc. (NASDAQ:ATSG) announced today that it has extended its senior secured credit facility until November 30, 2024, expanded the facility’s revolver portion, consolidated and lowered its term loans, and reduced pricing to immediately lower interest cost.
  • Fairstone Financial Inc. Upsizes Credit Facility to $1.85 Billion
    November 7, 2019
    Fairstone Financial Inc. ("Fairstone" or "the Company"), Canada's leading non-bank provider of responsible lending solutions for near-prime borrowers, announced today that it recently completed an optimization of its three-year revolving securitization facility ("Credit Facility") provided by a banking syndicate, comprised of leading Canadian and international banks.
  • ABLSoft Partners with Validis to Transform Asset Based Lending
    November 7, 2019
    Validis, a pioneer of financial data sharing and standardization technology, today announced that they are entering an exciting partnership with ABLSoft. ABLSoft’s flexible lending platform helps lenders save time and scale operations with intelligent workflows, reporting and alerts.
  • Grant Thornton Names Bradley J. Preber as CEO
    November 6, 2019
    The Partnership Board at Grant Thornton LLP announced that Bradley J. Preber will serve as the firm’s CEO. The board appointed Preber to the role following a comprehensive search process, and the firm’s partners and principals ratified the selection.
  • US LBM Amends Credit Facility, Extends Maturity To 2024
    November 6, 2019
    The revolving credit facility was supported by a syndicate of six lenders, including Royal Bank of Canada as administrative agent. Other participants include Wells Fargo Bank, National Association; SunTrust Bank; U.S. Bank, National Association; Credit Suisse AG, Cayman Islands Branch; and Barclays Bank PLC.
  • Alvarez & Marsal Responds to Increased Demand for Healthcare Compliance Advisory Services
    November 6, 2019
    Leading global professional services firm Alvarez & Marsal (A&M) Healthcare Industry Group has enhanced its Healthcare Compliance Advisory services with the appointment of Colleen Curran as Managing Director and Mary Findley as Senior Director. Ms. Curran will lead A&M’s Healthcare Compliance Advisory practice. Ms. Curran and Ms. Findley bring decades of compliance and regulatory experience across diverse sectors of the healthcare industry.
  • John Marshall Bank Promotes Regional Executive, James Estep
    November 6, 2019
    John Marshall Bank is pleased to announce the promotion of James Estep to Regional Executive in Fairfax. James joined John Marshall Bank in 2018 as Regional Executive in Reston. Under James’ leadership, the Reston region has seen accelerated growth and market expansion. As Regional Executive in Fairfax, Estep will provide operational and strategic direction in Tysons while continuing to oversee JMB’s efforts in Reston.
  • MidCap Business Credit Announces Two New Hires
    November 6, 2019
    MidCap Business Credit LLC has appointed Bill Nay as Senior Vice President to its business development team and Rebecca Smith as Senior Vice President to its risk team as an underwriter.
  • Beef International, Inc. to Sell Operations to RKW Holdings, LLC
    November 6, 2019
    Beef International Inc., (“BI Foods”) a custom manufacturer of premium meat products, announced today that it has reached an agreement to sell its business operations and certain assets to RKW Holdings, LLC (“RKW”). The transaction is expected to close within the next 30 – 45 days. RKW will continue to operate the business out of the existing Beef International location in Pennsauken, NJ and employ over 50 people.
  • Crestmark Provides More Than $34.3 Million in Commercial Financing to 99 Businesses in the Second Half of October
    November 6, 2019
    Crestmark secured a total of $800,000 in ABL financial solutions for two new clients; Crestmark Equipment Finance provided $15,558,380 in 14 new lease transactions; Crestmark Vendor Finance provided $9,586,873 in 88 new lease transactions; and the Government Guaranteed Lending Division provided $8,355,000 in financing for one new client in the second half of October.
  • California Premium Home Furnishings Company Secures a $2.5MM Inventory Finance Facility; Worthy Lending LLC Joins Syndication
    November 6, 2019
    Worthy Lending LLC (WL) provided $1MM participating in a $2.5MM inventory finance facility for a west coast high-end home furnishings manufacturer/retailer. This well-established top-quality furniture can be found in showrooms located in Georgia, Illinois, Ohio, Texas, Colorado, Arizona, California, Florida, Nevada, New York, DC, and retail outlets in Europe.
  • TAB Bank Provides Commercial Printing Company in Illinois with a $3 Million Asset-Based Credit Facility
    November 6, 2019
    TAB Bank is pleased to announce it has provided a $3 million asset-based revolving credit facility for a commercial printing company located in Illinois. The new facility is extended through a multi-year agreement and will provide for the company’s ongoing working capital needs.
  • Citizens Commercial Banking Provides $138 Million Loan to DSC Partners for Acquisition of 28 Maryland Office and Industrial Buildings
    November 6, 2019
    Citizens Commercial Banking announced today that its Commercial Real Estate Finance team is providing a $138 million loan to Washington, D.C.-based DSC Partners, a real estate investment company founded in 2017 by former First Potomac Realty Trust executives, for the acquisition of 28 office and industrial buildings located in Montgomery County, MD. Citizens is Left Lead Bank and Administrative Agent.
  • Cambridge Wilkinson Investment Banking Announces Transaction
    November 6, 2019
    Cambridge Wilkinson has arranged a $50 million senior debt facility for a 15-year-old national specialty finance company that provides consumer-oriented loans and purchases consumer receivables across a number of consumer sub-categories.
  • Healthcare Services Executives Predict Another Strong Year Ahead Despite Cooling M&A Outlook
    November 6, 2019
    A Capital One annual survey revealed that healthcare services executives continue to have an optimistic outlook for business performance heading into 2020. Over the next year, more than two-thirds (69%) of executives predict their businesses will perform better compared to the last 12 months, with just 4% expecting a drop in performance in that time period.
  • Optima Partners, LLC Establishes Chicago Office and Promotes Capital Markets Partner to Lead Midwest Regional Practice
    November 6, 2019
    Expansion comes in the wake of strong regional client growth and the continued strength of traditional and alternative asset management in the Midwest.
  • Pier 1 Hires Debt Restructuring Expert as CEO
    November 6, 2019
    The Fort Worth, Texas-based home furnishings retailer said Monday it named Chief Financial Officer Robert Riesbeck to lead the company. Mr. Riesbeck, a retail veteran with an accounting background, previously led FullBeauty Brands Inc. and HHGregg Inc., which both underwent chapter 11 proceedings during his tenure.
  • VersaPay Closes $4 Million Credit Facility with National Bank
    November 6, 2019
    VersaPay Corporation (VPY.V) ("VersaPay"), a leading provider of cloud-based invoice-to-cash solutions including electronic invoice presentment and payment, automated accounts receivable, cash application and collections management, is pleased to announce the closing of a credit facility with National Bank of Canada's Technology and Innovation Banking Group ("NBC"). The facility consists of a $4.0 million revolving credit facility (the "Facility") which matures in April 2021 , extendable thereafter.
  • Exchange Income Corporation Secures New Credit Facility
    November 6, 2019
    National Bank Financial Inc., Canadian Imperial Bank of Commerce, and The Toronto-Dominion Bank are Co-Lead Arrangers and Joint Bookrunners to the new facility. National Bank Financial Inc., is Agent, and the follow lenders complete the syndicate; The Bank of Nova Scotia, ATB Financial, Laurentian Bank of Canada, Bank of Montreal, HSBC Bank Canada, Raymond James Finance Company of Canada Ltd., Royal Bank of Canada, Wells Fargo Bank, N.A. Canadian Branch.
  • Cheniere Energy, Inc. Announces Intent to Offer $1.0 Billion Senior Secured Notes Due 2029 by Cheniere Corpus Christi Holdings, LLC
    November 6, 2019
    Cheniere Energy, Inc. ("Cheniere") (NYSE American: LNG) announced today that its wholly owned subsidiary, Cheniere Corpus Christi Holdings, LLC ("CCH") intends to offer, subject to market and other conditions, $1.0 billion principal amount of Senior Secured Notes due 2029 ("CCH 2029 Notes").
  • Utica Equipment Finance Completes Funding of a Capital Lease Line
    November 5, 2019
    Utica Equipment Finance completed the funding of a capital lease line up to $2.0MM secured by passenger cars to a for-hire vehicle rental car company located in the northeast. Utica provided the working capital for this company to expand and grow operations.
  • Calfee, Halter & Griswold LLP Hires Nationally Recognized Bankruptcy and Restructuring Attorney H. Jeffrey Schwartz, Opens New York City Office
    November 5, 2019
    Calfee, Halter & Griswold LLP announced today that H. Jeffrey Schwartz has joined the law firm as partner and co-chair of Calfee’s Business Restructuring and Insolvency practice group. Schwartz will work from Calfee’s Cleveland and newly announced New York City offices.
  • Bruin Sports Capital Strikes Partnership With CVC Capital Partners, Jordan Co.
    November 5, 2019
    Bruin Sports Capital, a privately held investing concern founded by George Pyne that invests in and operates sports and entertainment companies, said Tuesday it had entered into a long-term strategic partnership with private equity firms CVC Capital Partners and The Jordan Company. The initial investment from the two companies is $600 million.
  • Opus Bank Announces Appointment of William D. Fanter as Head of Retail Banking
    November 5, 2019
    Opus Bank (“Opus”) (NASDAQ: OPB) announced today that William D. Fanter has been appointed Executive Vice President, Head of Retail Banking. Mr. Fanter, a 31-year banking veteran, will be responsible for managing Opus’ Retail Banking division, including overseeing its 46 banking offices located in California, Washington, Oregon, and Arizona.
  • JPMorgan Hires Bankers for New Venture Capital Coverage Team
    November 5, 2019
    JPMorgan Chase & Co said on Tuesday that it hired a team of four bankers to lead a new team in its commercial bank that connects venture capital investors with fast-growing start-ups in technology, life sciences and other fields.
  • Siena Lending Group LLC Announces an Increase in its Credit Facility with Wells Fargo Bank, N.A. to Over $300 Million
    November 5, 2019
    Siena Lending Group LLC (“Siena”), a leading asset-based lending company, announced today an increase in its senior credit facility with Wells Fargo Bank, N.A. to $312.5 million.
  • G2 Capital Advisors Hires Howard Lanser as Head of Capital Markets
    November 5, 2019
    G2 Capital Advisors ("G2"), a leading financial advisory firm is pleased to announce that Howard Lanser has joined the firm as a Managing Director and Head of Capital Markets. Lanser will oversee G2's extensive capital markets platform, partnering with Louise Roussel, Director of Capital Markets in enhancing the firm's execution of complex financings for our clients.
  • CIT Leads $80 Million Revolving Credit Facility for AerFin Holdings
    November 5, 2019
    CIT Group Inc. (NYSE: CIT) today announced that its Aerospace, Defense and Government Services business served as administrative agent, security agent and lead lender on an $80 million senior secured revolving credit facility for AerFin Holdings.
  • Paul Whyte Joins Wells Fargo’s Corporate & Investment Banking and Commercial Real Estate Groups
    November 5, 2019
    Wells Fargo Wholesale Banking, a division of Wells Fargo & Company (NYSE: WFC), announced today that Paul Whyte is joining its Corporate & Investment Banking (CIB) and Commercial Real Estate (CRE) groups, effective November 12, as a managing director focused on real estate investment banking and hospitality finance.
  • MidCap Business Credit LLC Completes $5 Million ABL Facility
    November 5, 2019
    MidCap Business Credit LLC announced today that it has completed a $5 Million Asset Based Credit Facility to Blonder Tongue Laboratories, Inc. (NYSE American: BDR) Headquartered in Old Bridge, NJ, Blonder Tongue Laboratories, Inc. is the oldest designer and manufacturer of cable television video transmission technology in the USA.
  • Stelco Announces $100 Million Term Loan
    November 5, 2019
    Stelco Holdings Inc. ("Stelco" or the "Company") (STLC.TO) today announced that its wholly-owned subsidiary, Stelco Inc. ("Stelco Inc.") has amended its asset-based credit facility ("ABL Credit Facility") to include a $100 million secured term loan due August 2023 (the "Loan").
  • Jupiter Receives Additional Extension to Credit Facility
    November 5, 2019
    Jupiter Resources Ltd. and its affiliates (collectively, "Jupiter" or the "Company") have received an additional extension to the maturity date, associated with the Company's existing senior secured reserve-based revolving credit facility (the "RBL Facility"), until December 6, 2019.
  • Delphi Energy Corp. Announces Extension of Credit Facility
    November 5, 2019
    Delphi Energy Corp. (“Delphi” or the “Company”) announces that the semi-annual borrowing base redetermination of its senior credit facility has been finalized.
  • Equity Residential Announces $2.5 Billion Revolving Credit Facility and Increase to its Commercial Paper Program
    November 5, 2019
    A total of 22 lenders (and in certain cases their affiliates) participated in the operating partnership’s $2.5 billion revolving credit facility, including BofA Securities, Inc., JPMorgan Chase Bank, N.A. and Wells Fargo Securities, LLC, as Joint Bookrunners and Joint Lead Arrangers. Barclays Bank PLC, Citibank, N.A., Deutsche Bank Securities, Inc., Morgan Stanley Bank, N.A., Royal Bank of Canada, and U.S. Bank National Association acted as Joint Lead Arrangers and Co-Syndication Agents.
  • Derek Carrus Joins Heritage Global Valuations
    November 5, 2019
    Heritage Global Valuations (HGV), a division of Heritage Global Partners, a leading asset liquidation and appraisal firm, announced today the addition of Derek Carrus to its growing valuation team. Mr. Carrus will be based in Heritage’s Boca Raton, Florida office.
  • McGuireWoods Continues Texas Growth With Arrival of Debt Finance Partner Phyllis Young
    November 4, 2019
    Phyllis Young, an accomplished transactional lawyer who advises public and private companies, commercial banks and investment funds in financing transactions and has extensive energy industry experience, has joined McGuireWoods’ debt finance practice as a partner in the firm’s Dallas and Houston offices.
  • North Mill Capital LLC Provides Accounts Receivable Facility
    November 4, 2019
    North Mill Capital LLC announced it has provided a $750,000 accounts receivable facility for Aqua Green Services. The funds were used to pay off the current lender and provide additional working capital for the company.
  • Wilmington Trust Appoints Alex Pashley as New Head of Structured Finance in the UK
    November 4, 2019
    Wilmington Trust, a leader in corporate and institutional services, has appointed Alex Pashley as Head of Structured Finance in the UK. Based in the firm's London office, he joins the Global Capital Markets European business, reporting to Alan Geraghty, Group Vice President and Head of European Operations.
  • OCC Issues Final Rule to Change Applicability Thresholds for Regulatory Capital and Liquidity Requirements
    November 4, 2019
    The Office of the Comptroller of the Currency (OCC) today announced a final rule to tailor capital and liquidity requirements for certain banking organizations with more than $100 billion in total consolidated assets to more closely match their risk profiles. The final rule builds on the OCC’s existing practice of tailoring capital and liquidity requirements based on the size, complexity, and overall risk profile of banking organizations.
  • Brad Quade Joins First Business as Deputy Chief Credit Officer
    November 4, 2019
    Brad has over 30 years of experience in the banking industry, having worked at both publicly traded and privately owned institutions. He has led successful lending teams in commercial banking, investment real estate, and equipment leasing as well as treasury management services.
  • Citi Commercial Bank Appoints New Head of UK Operations
    November 4, 2019
    In a sign of its ongoing commitment to the UK market, Citi has appointed Bill Stanton as head of its UK Commercial Banking business. Reporting to Raymond Gatcliffe, EMEA Head of Citi Commercial Bank (CCB), Bill will be responsible for leading the UK franchise, serving the mid-market corporate segment across a number of industries.
  • JCPenney Opens New Store With Reimagined Format, New Ideas, New Logo And More
    November 4, 2019
    JCPenney unveiled a new lifestyle store in Hurst, Texas on November 1. This store is brand-redefining and reflects the new management’s strategy to put customers at the center of the business. It tries to reflect what today’s shopper wants from retailers. A year of extensive customer research led to the insights that formed the new store strategy. It is all intended to transform traditional stores and is at the center of JCPenney CEO Jill Soltau’s plan to rebuild and renew the company.
  • Garda World Security Corporation Completes a US$2.552 Billion Refinancing of its Long Term Credit Facilities and Senior Notes
    November 4, 2019
    The Joint Book-Running Managers for the issuance of the Notes are BofA Securities, Inc., Barclays Capital Inc., J.P. Morgan Securities LLC, TD Securities (USA) LLC, Jefferies LLC, RBC Capital Markets, LLC, Scotia Capital (USA) Inc. and UBS Securities LLC. The Lenders and Issuing Banks as part of the new credit facilities are JPMorgan Chase Bank, N.A., Bank of America, N.A., Barclays Bank PLC, The Toronto-Dominion Bank, ATB Financial, Jefferies Finance LLC, Royal Bank of Canada, The Bank of Nova Scotia and UBS AG, Stamford Branch.
  • IBERIABANK Names SVP, Director of Music and Entertainment, a division of IBERIABANK Sports & Entertainment Banking
    November 4, 2019
    IBERIABANK, the 132-year-old subsidiary of IBERIABANK Corporation, is pleased to announce that Peggy Dold has been named Senior Vice President and Director of Music and Entertainment in Nashville Tennessee, a division of IBERIABANK's Sports & Entertainment Banking.
  • Corporate Finance Partner Jeffery Norton Rejoins O’Melveny in New York from Dechert
    November 4, 2019
    A highly respected leveraged finance advisor, Norton most recently practiced at two other international law firms, serving as U.S. managing partner and finance practice head at one. In addition to advising direct lenders, middle-market banks, private equity sponsors, and large corporations in domestic and cross-border transactions, Norton has served for more than a decade as counsel to a number of leading international banks.
  • Capital One Provides $285 Million Bridge Loan Refinancing for Seniors Housing Portfolio
    November 4, 2019
    Capital One announced today that closed a $285 million bridge loan to refinance a portfolio of 13 senior living communities owned by Prime Care, LLC. They consist of 1,081 assisted living, 301 memory care, and 85 skilled nursing units located in seven states. Sunrise Senior Living manages 11 of the facilities while Harbor Retirement Associates manages two.
  • TCF Middle Market Banking Provides Secured Financing to Support Slifco Electric, LLC
    November 4, 2019
    TCF Middle Market Banking (TCFMMB), a division of TCF National Bank which is a subsidiary of TCF Financial Corporation (TCF) (NASDAQ: TCF), today announced that it provided secured financing to support Slifco Electric, LLC.
  • Monticello Asset Management Appoints Kim Gordon to Oversee Working Capital Division
    November 4, 2019
    Monticello Asset Management, a New York-based private real estate and asset-based lender, servicer and manager has appointed Kim Gordon as managing director of working capital. Gordon brings over 30 years of commercial lending experience including asset-based lending, with a focus on the healthcare industry.
  • Direct Lenders Provide US$1.6 Billion Loan to Risk Strategies
    November 4, 2019
    Risk Strategies, a national insurance brokerage and risk management firm, has nabbed a US$1.6bn unitranche loan from a group of 10 direct lenders, making it one of the largest ever such loans arranged to date, sources said.
  • AeroCentury Corp. Announces Update Regarding Revolving Credit Facility
    November 4, 2019
    AeroCentury Corp. (NYSE American: ACY) (the “Company”), an independent aircraft leasing company released information regarding the impact of recent events on the Company’s revolving credit facility and the path forward for the Company.
  • Pengrowth Energy Corporation Announces Transaction With Cona Resources Ltd.
    November 4, 2019
    Pengrowth Energy Corporation (“Pengrowth” or the “Company”) (TSX:PGF, OTCQX:PGHEF) today announced that it has entered into a definitive arrangement agreement (the “Arrangement Agreement”) with Cona Resources Ltd. (the “Purchaser”), a portfolio company of Waterous Energy Fund, pursuant to which the Purchaser has agreed to repay the outstanding principal amount and accrued interest to the date of the Arrangement Agreement owing under the Company’s credit facility (the “Credit Facility”) .
  • Excelsior Mining Secures Credit Facility
    November 4, 2019
    Excelsior Mining Corp. (TSX: MIN) (FSE: 3XS) (OTCQX: EXMGF) ("Excelsior" or the "Company") announces that it and its wholly-owned subsidiary Excelsior Mining Arizona, Inc. ("Excelsior Arizona") have entered into an agreement with Nebari Natural Resources Credit Fund I LP ("Nebari") for a US$15 million credit facility (the "Credit Facility").
  • Karina Davydov Joins Gemino Healthcare Finance
    November 4, 2019
    We are pleased to announce that Karina Davydov has joined Gemino Healthcare Finance and will also be working with North Mill Capital. Karina brings with her more than fifteen years’ experience in financial services industry most recently in her role as a Healthcare Lender at BankFinancial. She will be focused on marketing and loan origination in the Midwest, based out of Gemino’s Chicago office.
  • Kaiser Aluminum Corporation Announces New Five-Year, $375 Million, Senior Secured Revolving Credit Facility
    October 31, 2019
    Kaiser Aluminum Corporation (KALU) today announced that it has entered into a $375 million, five-year senior secured revolving credit facility replacing its previously existing facility that was due to mature in December 2020. The new facility increases the lending commitment by $75 million and provides more favorable pricing and greater flexibility than the previous facility.
  • Celtic Capital Corporation Announces New Client Relationship
    October 31, 2019
    Celtic Capital Corporation announced its most recent new client relationship – a California-based company that manufactures high end furniture. This borrower had a long-term relationship with its bank but after losses and covenant violations, was asked to seek alternative financing.
  • Toll Brothers Announces $1.905 Billion Bank Credit Facility and $800 Million Term Loan Extension
    October 31, 2019
    Toll Brothers, Inc. (TOL) (www.tollbrothers.com), the nation's leading builder of luxury homes, today announced that it had entered into a five-year $1.905 billion senior unsecured revolving credit facility to replace the Company's existing $1.295 billion revolving credit facility, which was scheduled to mature in May 2021. The facility, which matures in November 2024 and includes 24 banks, has an accordion feature under which the facility can increase to a maximum of $2.5 billion, subject to certain conditions.
  • Hovnanian Enterprises Completes Refinancing Transactions
    October 31, 2019
    Hovnanian Enterprises, Inc. (NYSE:HOV) (“Hovnanian” or the “Company”) announced today that it has closed several refinancing transactions that extend the maturities of over $700 million of the Company’s debt, including addressing all near-term maturities through 2021, as well as proactively extending approximately 50% of its upcoming maturities in 2022 and 2024. Additionally, the Company refinanced its $125 million secured revolving credit facility, which had revolving commitments terminating in December 2019, to a new secured revolving credit facility (the “New Revolver”) maturing in 2022.
  • Finance Transformation Expert David White Joins FTI Consulting
    October 31, 2019
    FTI Consulting, Inc. (NYSE: FCN) today announced the appointment of David White as a Senior Managing Director and Leader of the West region of the Office of the CFO Solutions practice within the Corporate Finance & Restructuring segment.
  • TAB Bank Provides Organic Foods Company in Pennsylvania with a $5.5 Million Asset-Based Credit Facility
    October 31, 2019
    TAB Bank is pleased to announce it has provided a $5.5 million asset-based revolving credit facility for an organic foods company located in Pennsylvania. The new facility is extended through a multi-year agreement and will provide for the company’s ongoing working capital needs.
  • BFS Appoints Carol Apicella Senior Vice President and Business Development Officer
    October 31, 2019
    Bibby Financial Services is delighted to announce a new addition to our team, Carol Bader Apicella. Ms. Apicella joined our team in mid-October as a Senior Vice President and Business Development Officer. We look forward to the expert insight Ms. Apicella will bring to BFS.
  • Next Edge Capital Corp. Closes Credit Facility For $47,500,000 From CIBC
    October 31, 2019
    Next Edge Capital Corp. (“Next Edge Capital”) is pleased to announce the closing of a revolving credit facility for $47,500,000 USD with CIBC1 and NELI Canada LP2, a special purpose funding vehicle utilized by the Next Edge Private Debt Fund (the “Fund”).
  • Greypoint Capital Adds Jeffrey Weber To Management Team
    October 31, 2019
    Greypoint Capital Inc. ("Greypoint" and/or "Company"), a Canadian alternative lender for middle market companies, is pleased to announce that Jeffrey Weber has recently joined the Company as Senior Vice President.
  • Ropes & Gray Names 16 New Partners
    October 31, 2019
    Global law firm Ropes & Gray announced today that 16 attorneys have been named partners of the firm, and that eight attorneys have been named counsel, all effective November 1. With these partner promotions—9 women and 7 men—30% of Ropes & Gray's partners are women. The largest geographic concentration of new partners is in New York, where the firm has more than 400 lawyers.
  • Olympia Sports Selects SB360 Capital Partners As Exclusive Agent to Conduct Closing Sale for 76 Stores
    October 31, 2019
    Olympia Sports, the prominent Maine based athletic footwear and apparel chain, has selected SB360 Capital Partners LLC (www.sb360.com), as their exclusive agent to conduct “Store Closing” sales in 76 stores. Olympia, which was recently acquired by sports retailer JackRabbit, will continue to operate its remaining 75 stores under the Olympia Sports’ banner. The 76 closing stores were not part of the acquisition.
  • SG Credit Partners Provides $2 Million Second Lien Cash Flow Loan Secured By Real Estate
    October 31, 2019
    SGCP provided a $2 million second lien cash flow loan to the Company secured by a second deed of trust on the corporate real estate which enabled the Company to execute on its new contracts and grow the business.
  • goeasy Ltd. Announces Enhancements to Credit Facility
    October 30, 2019
    goeasy Ltd. (GSY.TO), (“goeasy” or the “Company”), a leading full-service provider of goods and alternative financial services, is pleased to announce that on October 29, 2019 it completed an amendment to its senior secured revolving credit facility (the “Credit Facility”) provided by a syndicate of banks. The amendment increased the maximum principal amount available by $120.5 million in borrowing capacity, increasing the limit from C$189.5 million to C$310 million.
  • Ribbon Raises $30 Million Series B and $300 Million in Debt to Expand its Home Buying Platform
    October 30, 2019
    Ribbon announced today it has raised $330 million in equity and debt financing, to facilitate the company's expansion into new markets, and accelerate product development efforts. The company, which helps consumers more easily and efficiently buy homes, closed a $30 million Series B round of funding led by Greylock, and secured a debt facility with Goldman Sachs that, in addition to a previous facility, provides current financing capacity to $300M upon closing and may be increased by an additional $220M,
  • Anand Ramachandran Joins Regions Bank Corporate and Institutional Markets Group as a Managing Director
    October 30, 2019
    Regions Bank today announced that Anand Ramachandran has joined the firm as a Managing Director, reporting to Robert Heffes, Managing Director and Head of Trading and Credit Distribution and CEO of Regions Securities LLC.
  • New Cape Ann YMCA to be Built with $15 Million in New Markets Tax Credits from TD Community Development Corporation
    October 30, 2019
    Gloucester, Massachusetts, residents can look forward to having more opportunities for a better life with the recent groundbreaking on a new Cape Ann YMCA facility. The new YMCA, operated by the YMCA of the North Shore, Inc., will provide affordable access to health and child care programs along with new jobs in the community.
  • A&G Hires Jeffrey K. Hoffmann to Lead its Restaurant Real Estate Division
    October 30, 2019
    Jeffrey K. Hoffmann, a veteran banking executive who has provided strategic advice and capital solutions to operators of some of the biggest restaurant brands in North America, has joined A&G Real Estate Partners as a Senior Managing Director and head of the firm’s fast-growing restaurant division.
  • Aura Secures $130 Million Credit Facility from Varadero Capital
    October 30, 2019
    Aura, a mission-driven financial technology company that offers affordable loans to hard-working families, today announced it has closed a $130 million asset-backed revolving credit facility with Varadero Capital, L.P. This new facility comes during a period of rapid growth for Aura in which the company has provided approximately $635 million in loans to more than 475,000 borrowers at over 1,250 partner locations since its founding in 2014.
  • US Capital Global Provides €10MM Bridge Financing for MIRIS ahead of €100MM Growth Equity Facility
    October 30, 2019
    US Capital Global has structured and provided a €10 million bridge loan for MIRIS AS, a technology-driven real estate development company that enables sustainable solutions for Smart Communities. The company has five construction projects planned, including the world’s first energy-positive hotel, named Svart Hotel. This is a bridge facility ahead of a €100 million growth equity program.
  • Amerisource Closes $1,000,000 Credit Facility for Specialty Manufacturing Company
    October 30, 2019
    Amerisource Business Capital announced the closing and funding of a $1,000,000 senior credit facility for a component parts manufacturer based in New York. Proceeds of the facility are being used to support working capital and sales growth.
  • Patrick Donnelly Joins People’s United Bank’s Nonprofit Specialty Finance Group as Senior Vice President
    October 30, 2019
    People’s United Bank, N.A. (NASDAQ: PBCT), today announced that Patrick Donnelly has been appointed Senior Vice President, Nonprofit Banking. Donnelly will be based at the Bank’s 250 Park Avenue, New York City location, and be responsible for strategy development, sales and relationship management covering New York, New Jersey and the Philadelphia metro-area.
  • BlueVine Introduces BlueVine Business Banking, Designed for Today’s Small Businesses
    October 30, 2019
    BlueVine, a leader in providing access to online working capital for small businesses, today announced the launch of BlueVine Business Banking, a new banking service built specifically for small businesses. BlueVine Business Banking simplifies and enhances the banking experience for today’s small businesses by providing a smart, easy-to-use dashboard and BlueVine Business Debit Mastercard® to manage everyday finances along with 1.00% interest on their balance and zero monthly fees.
  • Briar Capital Closes a $9.5MM Real Estate Loan for an Oilfield Service Provider
    October 30, 2019
    Briar Capital Real Estate Fund ("BCREF") (www.BriarCapital.com) is pleased to announce it has provided a $9.5MM real estate term loan to an Oilfield Service Provider in Houston, TX.
  • FSW Funding Provides $5.0M Facility to Ammunition Manufacturer
    October 30, 2019
    FSW Funding (“FSW”) is pleased to announce the completion of a $5.0 million financing facility to a Rocky Mountain-based ammunition designer, manufacturer, and marketer (the “Client”) for products in the sporting goods industry.
  • Wintrust Receivables Finance Announced Closing of a New $20 Million Line to Support Growing Third Party Logistics Provider
    October 30, 2019
    Wintrust Receivables Finance announced today the closing and funding of a $20 million credit facility for a third party logistics provider based in Chicago. The company, which was founded two years ago, has become one of the fastest growing enterprises in the U.S. logistics industry.
  • Cushman & Wakefield Hires Top Debt Capital Markets Team
    October 30, 2019
    Cushman & Wakefield (NYSE: CWK) has further strengthened its Capital Markets team in Chicago with the additions of Jeff Altenau as Executive Managing Director and Zach Yarnoff as Managing Director. Both come to Cushman & Wakefield from Eastdil Secured, where they worked on several notable transactions.
  • Freshfields Hires Cleary Team Led by M&A Rainmaker Klingsberg
    October 30, 2019
    Freshfields Bruckhaus Deringer LLP has hired a team of corporate lawyers from Cleary Gottlieb Steen & Hamilton LLP, led by prolific dealmaker Ethan Klingsberg, as it seeks to make new inroads in the U.S. mergers and acquisitions (M&A) market. Klingsberg, whose clients include retailer Lowe’s Companies Inc, telecommunications giant Verizon Communications Inc and Google owner Alphabet Inc, will lead Freshfields’ U.S. M&A practice, the firm said in a statement on Friday.
  • City National Bank Expands to Miami and Long Island and Adds New Hollywood Office
    October 30, 2019
    City National Bank, America’s Premier Private and Business Bank®, today announced that it has opened three new locations around the United States: a new full-service banking office in Hollywood, CA; its first entertainment banking office in Miami, FL; and its first full-service regional center on Long Island, NY. City National will do business in Miami and the state of Florida as CN Bank.
  • Len Losquadro Joins C2FO Within the Capital Finance Group
    October 30, 2019
    Based in New York, Len will be responsible for creating new business opportunities and strategic partnerships. The capital solutions at C2FO include the early payment platform and secured lending products. His focus is on supporting the capital needs of small and medium-sized enterprises.
  • Gulf Coast Business Credit (“GCBC”) Closed 43 new Accounts Receivable Factoring and Asset Based Lending (ABL) Deals in 3Q
    October 30, 2019
    Gulf Coast Business Credit (“GCBC”) had a great third quarter, closing 43 new Accounts Receivable Factoring and Asset Based Lending (ABL) deals. Amongst the new deals funded were a $4,000,000 working capital facility to a Louisiana based staffing company, a $300,000 working capital facility to a Texas based manufacturing company and a $200,000 working capital facility to a California based transportation company.
  • DLL to Expand Into Recreational Activity Equipment Market
    October 30, 2019
    DLL, a global financial solutions provider will expand its offerings into the recreation and leisure lifestyle market in North America. This will include motorsport, marine, recreational vehicles and manufactured homes. DLL will provide floor planning lines of credit for eligible/qualified dealers to finance inventory purchases from their manufacturing partners, including new, rental and used inventory credit lines.
  • Sallyport Commercial Finance Aids Service Company with Expansion Capital
    October 30, 2019
    Sallyport Commercial Finance offers a $500,000 accounts receivable facility to a company that specializes in servicing, maintaining and repairing generators. Having prior experience in the generator industry has allowed this newly-formed company to accumulate clients at a pace that required assistance to support their growth. With the help of Sallyport, the business is now positioned to expand and seize new business opportunities.
  • North Mill Capital Provides Revolving Line of Credit and Equipment Term Loan
    October 29, 2019
    North Mill Capital provided a $1,500,000 revolving line of credit and a $450,000 equipment term loan. The funds were used to pay down the bank and provide ongoing working capital for expansion of the company.
  • Braemar Hotels & Resorts Announces New $75 Million Revolving Credit Facility
    October 29, 2019
    The new credit facility includes the opportunity to expand the borrowing capacity by up to $175 million to an aggregate size of $250 million. Since the Company had a zero balance on the previous credit line, no cash was utilized to pay it down upon termination. BofA Securities, Inc. acted as the sole lead arranger & sole bookrunner and Bank of America, N.A. as the administrative agent. Other participating lenders include KeyBank National Association and Morgan Stanley.
  • Bluegreen Vacations Corporation Enters Into $225.0 Million Syndicated Corporate Credit Facility
    October 29, 2019
    Bluegreen Vacations Corporation (NYSE: BXG) ("Bluegreen" or the “Company") today reported that on October 23, 2019, Bluegreen amended and restated its syndicated credit facility led by Fifth Third Bank (“Fifth Third”). The amended credit facility is a $225.0 million syndicated credit facility which includes a $100.0 million term loan with quarterly amortization requirements and a $125.0 million revolving line of credit.
  • Destination Maternity Closes 183 Stores and Files for Chapter 11 Bankruptcy
    October 28, 2019
    Destination Maternity announced it is closing more than a third of its stores and filing for Chapter 11 bankruptcy, adding to a long line of struggling retailers.
  • Oxford Finance Funds Skilled Nursing Portfolio Acquisition
    October 28, 2019
    The loan will finance the acquisition of 15 facilities, which will be managed by Mission Health Communities.
  • Black Diamond Group Announces New $200 Million Asset-Based Credit Facility
    October 28, 2019
    Black Diamond Group Limited (“Black Diamond” or “the Company”) (TSX: BDI) announced today that the Company has agreed to terms with respect to a four-year secured asset-based revolving credit facility (“Facility”).
  • Entrepreneur Growth Capital Closes Working Capital Facility
    October 27, 2019
    Entrepreneur Growth Capital (“EGC”) is pleased to announce that it has closed a $4MM working capital facility to a New York-based industrial painting company (“the Company”). The Company has grown with the New York City building boom and recently acquired a competitor. However, its long time bank was reluctant to increase its line of credit. EGC offered a higher line with increased availability against accounts receivable.
  • Ares Commercial Finance Provides a Senior Secured Credit Facility to Saylite Holdings LLC
    October 27, 2019
    Ares Commercial Finance announced that it has provided a senior secured credit facility to Saylite Holdings LLC and its subsidiaries (“Saylite”). Saylite is owned by CORE Industrial Partners. The proceeds will be used to refinance the company’s existing debt and for ongoing working capital to support Saylite’s growth and potential future acquisitions.
  • Finacity Facilitates MXN$750 Million Consumer Loan Securitization Program for Crédito Real
    October 27, 2019
    Finacity Corporation (“Finacity”) is pleased to announce that it has successfully facilitated a MXN$750 million consumer loan securitization program of Crédito Real, S.A. B. de C.V., SOFOM, E.N.R. (“Crédito Real”). The securitization was placed in the Mexican capital markets (CREL19CB) with a five-year tenor that will be secured by a portfolio of consumer loans that are deducted from the pensions and retirees of the Mexican Institute of Social Security (“IMSS”).
  • IBC Advanced Alloys Secures Extension of Line of Credit and Term Loan Facility with BMO Harris Bank
    October 27, 2019
    IBC Advanced Alloys Corp. (“IBC” or the “Company”) (TSX-V: IB; OTCQB: IAALF) announces that it has secured a renewal of its existing line of credit and term loan facility with BMO Harris Bank (”BMO”). The renewal of both the BMO line of credit and term loan facility extends the facility until September 30, 2020.
  • Kitchen Collection Is Closing 160 Stores Across The US
    October 27, 2019
    Kitchen Collection is now offering deep discounts at their 160 retail stores after the announcement was made earlier this week to close the retail business by the end of 2019. The Kitchen Collection, LLC is a national specialty retailer of kitchenware primarily in outlet malls throughout the United States. Retail store closing sales are being conducted by Hilco Merchant Resources.
  • Jane Fraser Named President of Citi and Head of Global Consumer Banking
    October 27, 2019
    Citi today announced leadership changes in the below message to colleagues from CEO Michael Corbat.
  • Pacific Western Bank’s Corporate Asset Finance Group Hires Columbus Johnson
    October 27, 2019
    Pacific Western Bank is pleased to announce the addition of Columbus Johnson as Senior Vice President, Originations. Johnson has worked in the equipment finance and leasing industry for 20 years. In his new role with the Bank, Johnson will be responsible for originating and structuring new business opportunities, with a focus on the rail and power sectors.
  • Shulman Rogers Welcomes R. Timothy Bryan To Lead Commercial Finance Practice
    October 27, 2019
    Shulman Rogers is pleased to announce that R. Timothy Bryan has joined the firm as Chair of the Commercial Finance Practice. During his 30-year legal career, Tim has amassed significant knowledge in the corporate finance arena, concentrating on commercial finance transactions ranging from $5 million to in excess of $500 million across a myriad of industries such as manufacturing and distribution, healthcare and biotech, telecommunications and IT, government contracting, media and marketing, cannabis and other business services.
  • Stonebriar Completes $150.0 Million Investment Grade Offering of Unsecured Notes Due 2024
    October 27, 2019
    Stonebriar Commercial Finance (“Stonebriar” or the “Company”), an Eldridge Industries business and a leading independent large-ticket commercial finance company, today announced the closing of a private issuance of $150.0 million aggregate principal amount of notes due 2024 initially assigned a “BBB (low)” rating by DBRS, Inc. (the “Notes”).
  • United States Steel Corporation Completes $1.1 Billion of Incremental Financing to Support Strategy Execution
    October 27, 2019
    United States Steel Corporation (X) (“U. S. Steel”) today announced that it has completed approximately $1.1 billion of financing activities to support the execution of the Company’s “best of both” strategy.
  • Reliant Bancorp to Acquire Tennessee’s First Advantage Bank
    October 24, 2019
    Reliant Bancorp, Inc. (“Reliant”) (Nasdaq: RBNC), the parent company for Reliant Bank, announced today that it has entered into a definitive agreement to acquire First Advantage Bancorp (“FABK”), the parent company for First Advantage Bank (“FAB”), located in Clarksville, Tennessee.
  • Cambridge Wilkinson Investment Banking Announces Transaction
    October 24, 2019
    Cambridge Wilkinson arranged $75 million in debt for a multi-strategy real estate development firm focusing on workforce housing, ground up-development and tax credit-related estate transactions.
  • SSG Advises Mairec Precious Metals U.S., Inc. in the Sale of Substantially All of its Assets to BASF Corporation
    October 24, 2019
    SSG Capital Advisors, LLC ("SSG") acted as the investment banker to Mairec Precious Metals U.S., Inc. ("Mairec" or the "Company") in the sale of substantially all of its assets to BASF Corporation ("BASF"). The sale was effectuated through a Chapter 11 Section 363 process in the U.S. Bankruptcy Court for the District of South Carolina. The transaction closed in October 2019.
  • Oxford Finance Provides Credit Facility to Acquire Kansas Skilled Nursing Portfolio
    October 24, 2019
    Oxford Finance LLC ("Oxford"), a specialty finance firm that provides senior debt to life sciences and healthcare services companies worldwide, today announced the closing of a term loan to a portfolio company of Skyway Group that will be managed by Mission Health Communities LLC ("Mission Health"), a provider of senior living and skilled rehabilitation communities. The funds will be used for the acquisition of 15 skilled nursing facilities in Kansas.
  • First Business Capital Corp. Announces Closed Asset-Based Lending Deal for Turnaround
    October 24, 2019
    Peter Lowney, President of First Business Capital Corp., announced a recently closed and funded $12,000,000 revolving line of credit facility and real estate term loan for a home and bath storage products distributor in Oregon.
  • Gateway Trade Funding Completes Two New Transactions
    October 24, 2019
  • Allied Affiliated Funding Announces Closed Transactions
    October 24, 2019
    Allied Affiliated Funding closed $500,000 in receivables financing to a Texas-based company that provides staffing services, primarily to the oil and gas industry and $150,000 in receivables financing to a Texas-based company that provides steel fabrication, including sheet metal bending, laser cutting and plastic injection/heat molding for manufacturing companies.
  • Amerisource Closes $1,000,000 Credit Facility for Developer Company
    October 24, 2019
    Amerisource Business Capital announced the closing and funding of a $1,000,000 credit facility for a web and applications developer based in Illinois. Proceeds of the facility are being used to support the Company’s growth.
  • FTI Consulting Launches M&A Advisory Offering in Spain
    October 23, 2019
    FTI Consulting, Inc. (NYSE: FCN) today announced the appointment of Juan Carlos Raposo as a Senior Managing Director in Madrid to lead its M&A Advisory offering, FTI Capital Advisors Spain. With the appointment of Mr. Raposo, FTI Consulting expands its global footprint for M&A services to serve clients in Spain and throughout Europe.
  • LendingUSA Announces New $250 Million Investment Commitment from Atalaya
    October 23, 2019
    The announcement comes as LendingUSA, a leading point-of-sale (POS) fintech company that offers merchants a seamless financing solution with access to instant pre-approval decisions, promotional financing terms and low monthly payment options, continues to see rapid growth in its markets.
  • CRH Medical Announces New Revolving Credit Facility
    October 23, 2019
    CRH Medical Corporation (TSX: CRH) (NYSE MKT: CRHM) ("CRH" or the "Company") today announced that it has entered into a new, three year revolving credit facility (the "new facility"), which provides up to $200 million in borrowing capacity, and represents an increase from the company's previous $100 million facility.
  • Houlihan Lokey to Acquire Freeman & Co.
    October 23, 2019
    Acquisition bolsters firm’s capabilities in investment banking to the broker-dealer, asset management, and wealth management sectors.
  • SoftBank Clinches WeWork Takeover Deal, Bailing Out Co-Founder
    October 23, 2019
    SoftBank Group agreed to spend more than $10 billion to take over WeWork on Tuesday, doubling down on an ill-fated investment and giving a near $1.7 billion payoff to the U.S. office-space sharing startup's co-founder Adam Neumann to relinquish control.
  • Amerisource Closes $25,000,000 Credit Facility for Oil Field Services Company
    October 23, 2019
    Amerisource Business Capital announced the closing and funding of a $25,000,000 credit facility for an oil field services company based in Texas and Oklahoma.
  • Santander Agrees to Sell its Retail and Commercial Banking Franchise in Puerto Rico to FirstBank Puerto Rico for Approximately $1.1 Billion
    October 22, 2019
    Santander today announces that it has agreed to sell its retail and commercial banking franchise in Puerto Rico, Santander Bancorp (the holding company that includes Banco Santander Puerto Rico), to FirstBank Puerto Rico, for a total consideration of approximately $1.1 billion (€1 billion) 1. Banco Santander Puerto Rico is the fourth largest banking franchise on the Island with a deposit market share of c.8%. It has 27 branches and 1,000 employees, with total assets of $6.2 billion (€5.6 billion).
  • Santander Bank Expands Suite of U.S. Commercial Banking Solutions with Santander Cash Nexus Platform
    October 22, 2019
    Santander Bank today unveiled its global Santander Cash Nexus solution for Commercial Banking and Corporate and Investment Banking clients in North America. This new platform offers clients a comprehensive suite of global connectivity solutions and provides access to local payment initiation and information reporting services in 15 markets around the world via a single point of entry.
  • Aligned Energy Secures Nearly $500 Million Facility to Support Expansion Plans
    October 22, 2019
    Aligned Energy, a leading data center provider offering innovative, sustainable and adaptable colocation and build-to-scale solutions for cloud, enterprise, and managed service providers, announced today it has completed a $495 million secured credit facility with investors including Goldman Sachs Bank USA, CPPIB Credit Investments Inc. (CPPIB Credit), a subsidiary of the Canada Pension Plan Investment Board, and a global investment management corporation.
  • Sallyport Commercial Finance Supplies Credit Facility to Food Manufacturer
    October 22, 2019
    Sallyport Commercial Finance offers a $500,000 accounts receivable facility, including a small purchase order solution that helps fuel future growth.
  • Northern Oil and Gas, Inc. Announces Expansion of Senior Secured Credit Facility and Launch of Consent Solicitation
    October 22, 2019
    Northern has engaged Wells Fargo Securities as Left Lead Arranger, Bookrunner and Administrative Agent. Wells Fargo Securities has obtained lender commitments to the Credit Facility for substantially more than $800 million to date, subject to customary closing conditions.
  • ToneyKorf Partners, LLC Facilitates the Integration of Milford Hospital in to Yale New Haven Health System and Completes Separate Sale of the Off-Shore Captive Insurance Company
    October 22, 2019
    ToneyKorf Partners, LLC was hired to lead Milford Health and Medical, Inc. (“Milford”), a not-for-profit corporation in Milford, CT, that included an acute care hospital, home care agency, captive insurance company, and medical office buildings. Like many community hospitals and systems, Milford was financially and operationally struggling despite cost-cutting measures and reductions in clinical service offerings.
  • Vcheck Global Hires Adam Fromowitz as a Managing Director for New York Operation
    October 22, 2019
    Vcheck Global, a leading provider of business-to-business due diligence background checks, is delighted to announce the hiring of Adam Fromowitz. Fromowitz brings nearly a decade of experience in financial, technology, and professional services to his new role as a Managing Director for Vcheck Global.
  • US Investors Look to Specialty Finance as Interest Drops in Private Credit
    October 22, 2019
    Investors who have binged on the US private credit market in the last few years are now turning to the growing specialty finance space where competition is less intense and spreads are more attractive. Because of the complexity of the lending structures, the specialty finance market is only a fraction of the size of cash flow lending, but investors are attracted to the potential for double-digit returns and the enhanced protection from asset collateralization.
  • Wonderfilm Announces Marketing of CAD$65.9 Million Asset-Backed Debt Facility
    October 22, 2019
    The Wonderfilm Media Corporation ("Wonderfilm" or the "Company") (WNDR.V) (WDRFF), a producer of high-quality feature films and episodic television with international appeal, today announces the co-marketing of a third-party, USD$50 million (C$65.9 million) asset-backed debt facility (“Facility”) designed to escalate the pace of the Company’s revenue and increase overall production efficiency.
  • Banks and Independents Report Strong Performance In Secured Finance in First Half of 2019
    October 21, 2019
  • Phoenix Lending Survey Results Reveals Lenders are Increasingly Pessimistic of the U.S. Economy
    October 21, 2019
    After a brief resurgence in Q2 2019, lenders displayed a more adverse outlook and assessment of the U.S. economy for the near term. The GPA for the U.S. economy in the near term significantly decreased 39 percentage points to 2.38 from the Q2 2019 results of 2.77. Additionally, lenders optimism of the U.S. economy in the long term continued to weaken, slightly decreasing 3 percentage points to a 2.04 from the previous quarter’s results of 2.07.
  • OncoCyte Amends Loan Agreement With New $3M Credit Facility
    October 21, 2019
    OncoCyte said in a regulatory filing on Monday that it has entered into an amended agreement with Silicon Valley Bank for a new $3 million secured credit facility, a portion of which has been used to repay the remaining balance of approximately $400,000 on outstanding loans with the same lender plus a final payment of $116,000 under the two parties' February 2017 loan agreement.
  • DURA Automotive Systems, LLC Secures $77 Million in Financing to Pursue Expedited Restructuring & Going Concern Sale
    October 21, 2019
    o implement this restructuring, the Company and its domestic subsidiaries have filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Middle District of Tennessee. DURA’s non-U.S. subsidiaries are not part of the Chapter 11 filing.
  • Investors Bank Selects ODX Platform to Begin Digitizing Small Business Lending
    October 21, 2019
    Investors Bancorp, Inc. (NASDAQ: ISBC) today announced that its banking subsidiary Investors Bank formed an alliance with ODX, a leading digital small business originations platform and a subsidiary of On Deck Capital, Inc. (NYSE: ONDK). Investors Bank will deploy ODX's digital loan origination platform in a phased approach to enhance its small business lending program in select areas of its banking network.
  • Crestmark Provides More Than $30.4 Million in Commercial Financing to 96 Businesses in the First Half of October
    October 21, 2019
    Crestmark secured a total of $5,100,000 in ABL financial solutions for six new clients; Crestmark Equipment Finance provided $4,048,244 in six new lease transactions; Crestmark Vendor Finance provided $8,025,138 in 81 new lease transactions; and the Government Guaranteed Lending Division provided $13,284,795 in financing for five new clients in the first half of October.
  • North Mill Capital Announces Funding to Logistics Company
    October 21, 2019
    The company provides maintenance, supply and warehouse chain management, transportation, IT and base operations support personnel primarily for the U.S. military.
  • Worthy Lending, LLC Takes Majority Syndicate Position in a $2MM Inventory Finance Facility for A Southeastern Home Furnishings Company
    October 21, 2019
    Worthy Lending LLC (WL) provided $1MM as the majority participant in a finance facility designed to help a well-established home furnishings company with over sixteen years of servicing the consumer. This regionally known and respected retailer lost its bank financing and required a finance facility to consolidate some of its locations and build inventory for their upcoming busy season.
  • Capital One Closes $108.9 Million Loan to Meridian Senior Living
    October 21, 2019
    The borrower will use a portion of the proceeds to acquire two senior housing communities in Florida, the 106-unit Symphony at the Waterways in Ft. Lauderdale and the 132-unit Symphony of Boca Raton.
  • U.S. Bank Hires Peter Gordon as Head of Emerging Payments Product and Strategy
    October 21, 2019
    U.S. Bank has hired real-time payments industry veteran Peter Gordon to lead emerging payments efforts across the company. In this new role, Gordon will oversee the strategy and product development of emerging payments products and services at U.S. Bank.
  • CIT's Supply Chain Finance Unit Expands Capabilities
    October 21, 2019
    Buyers and suppliers can now optimize their working capital by leveraging Supply Chain Finance's enhanced technical capabilities and product expertise to structure, implement and manage programs.
  • Austin Financial Services Provides a $5MM Revolving Credit Facility to a Private Equity owned Full-Service Courier Company
    October 21, 2019
    Austin Financial Services, Inc. (AFS) is pleased to announce the closing of a $5MM ABL credit facility to a Midwest-based Full-Service Courier Company that provides parcel delivery throughout the country.
  • McDermott International Enters into Agreement for up to $1.7 Billion of New Financing
    October 21, 2019
    Under the terms of the Agreement, McDermott will have immediate access to $650 million of financing comprised of $550 million under a term loan facility and $100 million under a letter of credit facility, before reduction for related transaction fees and expenses
  • Equity Partners HG Closes Asheboro Elastics Corp Refinancing
    October 21, 2019
    Equity Partners HG announced it acted as the exclusive investment banker to Asheboro Elastics Corp in the placement of its new senior secured debt. Asheboro Elastics Corp (“Asheboro” or the “Company”) is a privately-held, leading producer of knitted and woven narrow fabrics for the apparel and bedding industries.
  • Golden Star Reports Previously Announced Secured Credit Facility Closed
    October 21, 2019
    Golden Star Resources Ltd. (NYSE American: GSS; TSX: GSC; GSE: GSR) ("Golden Star" or the "Company") is pleased to report that it has closed the $60 million senior secured credit facility with Macquarie Bank Limited (the "Credit Facility") previously announced in its July 31, 2019 news release.
  • U.S. Fintech West Creek Secures $150 Million Credit Facility From Pollen Street Capital to Expand Point-of-Sale Financing
    October 21, 2019
    West Creek, a U.S.-based fintech company that provides point-of-sale financing, announced on Thursday it secured a $150 million credit facility from Pollen Street Capital, bringing the company’s total credit facility capacity to $250 million.
  • Stonebriar Commercial Finance Welcomes Michael J. Renck, CFA as Senior Financial Analyst
    October 21, 2019
    Stonebriar Commercial Finance (“SCF”) is pleased to announce that Michael J. Renck, CFA joined the company as Senior Financial Analyst effective October 15, 2019. Michael joins SCF from its equity sponsor, Eldridge Industries, where he was instrumental in the development and application of financial models for SCF and other Eldridge portfolio companies.
  • Amerisource Closes $1,000,000 Credit Facility for Distribution Company
    October 17, 2019
    Amerisource Business Capital announced the closing and funding of a $1,000,000 credit facility for a growing distribution and warehousing company based in California and Georgia. Proceeds of the facility were used to refinance existing bank debt and to support increased working capital needs.
  • Avidbank Holdings, Inc. Announces Net Income of $3,452,000 for the Third Quarter of 2019
    October 17, 2019
    Avidbank Holdings, Inc. ("the Company") (OTC Pink: AVBH), a bank holding company and the parent company of Avidbank ("the Bank"), an independent full-service commercial bank serving businesses and individuals primarily in Northern California, announced unaudited consolidated net income of $3,452,000 for the third quarter of 2019 compared to $2,865,000 for the same period in 2018.
  • SSG Advises True Health Diagnostics in the Sale of Select Assets to Cleveland HeartLab
    October 17, 2019
    SSG Capital Advisors, LLC ("SSG") acted as the investment banker to THG Holdings LLC ("True Health" or the "Company") in the sale of select assets to Cleveland HeartLab, a wholly-owned subsidiary of Quest Diagnostics ("Quest"). The sale was effectuated through a Chapter 11 Section 363 process in the U.S. Bankruptcy Court for the District of Delaware.
  • Lender Spat Could Push Barbecue Fuel Retailer into Debt Restructuring
    October 17, 2019
    Nearly a year after it began looking to ease its hefty debt load, Ferrellgas Partners LP is mired in a dispute with its most important lender and running out of time to turn things around.
  • Santander Bank Appoints Patrick Dunphy Head of Mid Corporate Banking and Verticals
    October 17, 2019
    Santander Bank today announced that Patrick Dunphy has been appointed Head of its Mid Corporate Banking and Verticals businesses within the Commercial Bank. In his new role, Pat will be responsible for leading the growth of Santander's mid corporate banking platform throughout North America, including managing teams based in Boston, Miami, Dallas and Chicago as well as the bank's Foreign Corporate Banking, Healthcare and Technology, Media and Telecommunications verticals. He will continue to report to David Swoyer, Head of Commercial Banking.
  • Utica Equipment Finance, LLC Completes Two Transactions
    October 17, 2019
    Utica Equipment Finance completed the funding of a CAD $2,300,000 term loan secured by machinery and equipment to a logging-based contractor located in Alberta, Canada and a $456,000 term loan secured by aircraft to a private aviation company.
  • Winter Harbor Welcomes New Senior Director, Rick Malagodi
    October 17, 2019
    Rick Malagodi joins Winter Harbor as a senior director, bringing over 30-years of restructuring, turnaround, and interim executive management experience to their team. Rick is a seasoned professional, having directed transactional processes including the raising of capital, guiding entities in out-of-court and court-supervised restructurings, and overseeing secured and unsecured debtor-side advising, liquidations, and M&A negotiations.
  • Spencer Savings Bank Expands Commercial Banking Group
    October 17, 2019
    Spencer Savings Bank recently expanded its Retail Bank Business Development Group. Daniel Murphy and Anthony Axtmann will expand commercial deposit and lending relationships for the Elmwood Park-based community bank as business development officers, Spencer Savings said.
  • TD Bank Provides $2.4 Million SBA Loan to Support Purchase of The Kubert School
    October 17, 2019
    TD Bank, America's Most Convenient Bank®, announced today that its U.S. Small Business Administration (SBA) Lending Group closed $2.4 million combined in 7(a) term and 7(a) Express loans for The Kubert School in Dover, New Jersey, which offers a fully accredited three-year course for cartoon and graphic arts.
  • Lighthouse Provides $4,000,000 Credit Facility
    October 17, 2019
    Lighthouse Financial Corp. is pleased to announce the completion of a $4,000,000 credit facility for a North Carolina-based manufacturer and distributor of narrow fabrics. The transaction included a $3,650,000 revolving line of credit along with a $350,000 term loan.
  • Laurentian Bank Financial Group Appoints a new Executive Vice President, Capital Markets
    October 17, 2019
    Mr. Gunderson has over 25 years of experience in the financial industry, largely in management positions. Until recently, he acted as Global Head of Trading Products at BMO Capital Markets where he held various management positions for more than a decade.
  • Jeffrey Johnson Joins Pinnacle Bank's Capital Finance Group as Executive Vice President
    October 17, 2019
    Mr. Johnson began his asset-based lending career in 1991 with BFI Business Finance where he became Executive Vice President. He grew loan commitments to $150MM and expanded BFI's geographical footprint to 13 western states.
  • Tempur Sealy Announces Completion Of Amended Credit Facilities
    October 17, 2019
    Tempur Sealy International, Inc. (NYSE: TPX) announced that it has successfully completed the closing of its amended revolving and term loan senior secured credit facilities. The amended $850 million senior secured credit facilities include a $425 million revolving credit facility and a $425 million term loan facility.
  • Sallyport Commercial Finance Facilitates Turnaround for a Printing and Packaging Firm
    October 16, 2019
    Sallyport Commercial Finance provides a $1,500,000 accounts receivable facility to a company that focuses on high quality print for advertising and packing.
  • Macquarie Capital Makes Four Senior Appointments to Enhance Leveraged Finance Business
    October 16, 2019
    Vincent Repaci to head asset-based lending group as Managing Director Matt Magnuson named Managing Director, Head of Credit Analytics Chad Hersch, Jodi Joskowitz appointed to senior trading, sales roles
  • Bibby Financial Services Canada Announces Deals
    October 16, 2019
    Bibby Financial Services (BFS) provided $1.8M in funding to an apparel company based in Quebec that designs and provides quality jean-wear products at accessible pricing. Bibby Financial Services (BFS) extended $250K to a Quebec business that specializes in medical staffing for nursing homes.
  • CIT Northbridge Serves as Sole Lead Arranger on $40 Million Credit Facility for Hantover, Inc.
    October 16, 2019
    CIT Group Inc. (NYSE: CIT) today announced that CIT Northbridge Credit, through its investment advisor CIT Asset Management LLC, served as sole lead arranger on a $40 million senior secured credit facility for Hantover Inc., a leading distributor of products to the food processing industry.
  • Hitachi Capital America Extends Relationship With Long-term Software Partner White Clarke Group
    October 16, 2019
    Hitachi Capital America has announced its continuing software partnership with White Clarke Group, allowing the ongoing use of the CALMS Compass software solution to manage its floorplan/wholesale finance business. Hitachi Capital America’s relationship with White Clarke Group began in 2011 with the initial implementation of their CALMS Compass floorplan solution. At the time, Hitachi Capital America had been searching for an automated finance software solution to enhance both user and customer experience within their floorplan business.
  • Wells Fargo Realigns Commercial Capital Loan Originations Teams in Canada
    October 16, 2019
    Wells Fargo Commercial Capital announced today the realignment of its Canada-based Equipment Finance and Asset-Based Lending (ABL) originations teams into a newly integrated business unit, harnessing the collective expertise to enhance the customer experience. Nicolas Lessard now heads the combined team, which expands his previous role leading Wells Fargo Equipment Finance’s manufacturing group in Canada.
  • Alantes Secures a $11,500,000 Term Loan for Entertainment Services Company
    October 16, 2019
    With the always improving quality of cinema and film and changing technology, the demand for quality assistance is always in constant flux. The Company sets itself apart from the industry with its unparalleled customer service, industry knowledge, experience and product depth. However, with the ever-growing list of clients, the Company found itself needing additional working capital in order to purchase new products to service new orders.
  • Freight Factoring Company ITC - Invoice to Cash Announces the Relaunch of Their Brand and Website to Better Serve the Trucking Industry
    October 16, 2019
    – ITC - Invoice to Cash, an Accutrac Capital Group Company, is excited to announce the launch of their new branding and accompanying website. ITC – Invoice to Cash provides fast and dependable financial solutions to small and medium sized trucking companies. This refreshed branding was done to better serve the North American trucking industry – with a focused effort to deliver services catered to the Hispanic market.
  • Prestige Capital Retains Midwest Sales Director
    October 16, 2019
    Prestige Capital, a 34-year-old specialty finance company based in Ft. Lee, NJ recently hired Stacey Huddleston of Kansas City, Missouri to join its team as Sales Director, Midwest. Mr. Huddleston has almost two decades worth of experience in the financial services sector specifically in the Commercial & Industrial and asset-based lending spheres.
  • Comvest Credit Partners Announces the Recapitalization of Global Holdings
    October 16, 2019
    Comvest Credit Partners (“Comvest”) acted as Administrative Agent and Joint Lead Arranger in a senior credit facility (the “Financing”) to support New State Capital Partners’ (“New State”) recapitalization of Global Holdings Acquisition, LLC. (“Global Holdings” or the “Company”).
  • ILA Closes $3 Million Credit Facility with BMO Bank of Montreal
    October 16, 2019
    iLOOKABOUT Corp. (TSXV:ILA; OTCQB:ILATF) (“ILA” or “the Company”), is pleased to announce the closing of a credit facility with Bank of Montreal’s Technology & Innovation Banking Group ("BMO"). The facility consists of a $1.5 million term loan (the “Term Loan”) and a $1.5 million revolving credit facility (the “Operating Facility” or together, the "Facilities"), both of which mature in October 2022.
  • Lawson Products Announces New Credit Facility
    October 16, 2019
    Commitments upsized to $100 million, plus an accordion feature. Further supports acquisition and organic growth strategies. JPMorgan Chase and Bank of America Join Bank Group
  • Endava Announces Completion of New Corporate Revolving Credit Facility
    October 16, 2019
    On October 12, 2019, Endava plc (the “Company”) along with Endava (UK) Limited, Endava Inc. (the “Original Borrowers”) and Endava LLC (together with the Original Borrowers, the “Original Guarantors”) entered into a new multicurrency revolving credit facility (the “Multicurrency Revolving Credit Facility”) with HSBC Bank plc as agent
  • Rosenthal Provides $5 Million Dual Production Finance and Asset Based Lending Facility for Specialized Horticulture Lighting Manufacturer
    October 15, 2019
    Rosenthal & Rosenthal, Inc., the leading independent factoring, asset based lending and purchase order financing firm in the United States, today announced the completion of a recent combined $5 million inventory production and asset based lending deal...
  • Electrical Installations Specialist “Worthy” of $3MM Receivables, Inventory and Equipment ABL
    October 15, 2019
    Worthy Lending LLC (WL) closed a multi-collateral ABL revolving finance facility for a northeastern electrical installation specialty company.
  • SG Credit Partners Provides $6.5 Million to SaaS Company
    October 15, 2019
    This transaction highlights SGCP’s ability to write larger checks as a result of its recent capital raise as well as our ability to provide a one-stop solution.
  • MidCap Closes on $4,000,000 Asset Based Credit Facility for Trans-Lux Corporation
    October 15, 2019
    Trans-Lux is a leading designer and manufacturer of high-performance state-of-the-art digital display solutions and fixed digit scoreboards. The asset based credit facility is comprised of a working capital revolver and a machinery and equipment term loan.
  • Monroe Capital Supports Alpine Investors’ TEAM Services Group
    October 15, 2019
    Monroe Capital LLC today announced it acted as administrative agent and joint lead arranger on the funding of a senior credit facility to support TEAM Services Group’s partnership with AmeriBest Home Care, Inc.
  • BHI Appoints Oleg Kochanov to Lead Independent Underwriting Team
    October 15, 2019
    New underwriting team will support BHI’s continued growth.
  • Coral Capital Solutions Extends $1.2 Million Factoring Facility to Fast Growing Food Distributor
    October 15, 2019
    Coral Capital Solutions, a leading provider of financing solutions for businesses, today announced a $1.2 million annual factoring facility with a fast growing startup distributor of natural frozen hand-held pies.
  • CoMetrics Partners LLC Appoints John La Lota as Managing Director
    October 14, 2019
    Most recently John was the President of the Commercial Services division of Sterling National Bank where he led specialty lending teams in a highly regulated banking environment. Under John’s 20 year leadership, Sterling grew to one of the largest factoring companies in the United States.
  • Corporate Energy Lawyer Michael Freeman Joins Haynes and Boone as Partner
    October 14, 2019
    Freeman handles a broad array of matters in the middle-market energy sector, including mergers and acquisitions, divestitures, securities offerings and other entity governance and commercial transactions. He primarily advises private equity-sponsored midstream and upstream energy ventures.