• Tradewind Finance Announces $1 Million Credit Facility for Seafood Importer and Wholesaler in the USA
    April 21, 2021
    Tradewind Finance has provided a USD 1 million domestic factoring facility to a seafood importer and wholesaler based in the United States that sells a variety of fish, including snapper, tuna, swordfish, mahi-mahi, and grouper, to retailers and distributors in the USA. The company is a new subsidiary of a large seafood farmer and processor based in Costa Rica and is using the funding to expedite cash flow back to the parent company and support growth in the USA.
  • Fresh Acquisitions, LLC Files for Chapter 11 Bankruptcy
    April 21, 2021
    Fresh Acquisitions, LLC which operates Furr’s Fresh Buffet©, and several of its affiliates including Buffets LLC and its subsidiaries, which operate Ryan’s©, Old Country Buffet©, Tahoe Joes Famous Steakhouse©, and Hometown Buffet©, filed for Chapter 11 bankruptcy protection earlier today to strengthen their operations and recapitalize their businesses. The companies will have access to additional liquidity through a post-petition debtor in possession loan being extended by VitaNova Brands©.
  • First Business Bank Closes $4 Million Factoring & Inventory Finance Facility to Home Products Distributor
    April 21, 2021
    First Business Bank announces the closing of a $4 million factoring and inventory finance facility by its Accounts Receivable Financing group. The client is a distributor of outdoor home products, selling directly to home improvement retailers as well as directly to consumers through an e-commerce site.
  • Mayra Marquez joins Pinnacle Bank as Senior Vice President, Senior Relationship Manager
    April 21, 2021
    Pinnacle Bank (OTCQB: PBNK) headquartered in Gilroy, CA announced today that Mayra Marquez has joined the bank as Senior Vice President, Senior Relationship Manager.
  • EisnerAmper Announces New Industry Offerings, National Leaders
    April 21, 2021
    Based on continuing significant growth, EisnerAmper LLP, a leading global business advisory firm, announces new industry offerings along with their respective new national leaders.
  • Houlihan Lokey Continues Expansion of Its Healthcare Coverage Group With Experienced Hire
    April 21, 2021
    Houlihan Lokey (NYSE:HLI), the global investment bank, announced today that Jonathan Guskind has joined the firm as a Managing Director in the Healthcare Group, covering medical technology. He is based in New York. Mr. Guskind joins from Morgan Stanley, where he spent more than a decade and most recently helped lead the medical technology coverage effort within the Healthcare Investment Banking group. Prior to Morgan Stanley, he worked in BNP Paribas’ Leveraged and Acquisition Finance group.
  • Franklin Capital Solves The Cash Flow Challenges Of Two Staffing Companies.
    April 21, 2021
    Franklin Capital is pleased to announce the completion of two new accounts receivable financing facilities. Franklin Capital provided an accounts receivable financing facility to a UK-owned temp staffing business and an accounts receivable financing facility to a franchise of a large staffing firm.
  • CannTrust Holdings Inc. Secures C$22.5 Million Commitment for Debtor-in-Possession and CCAA Exit Credit Facility Financing English
    April 20, 2021
    The Credit Facility consists of a revolving loan, under which repayments and additional drawdowns will be permitted from time to time, provided that the amounts owing under the Credit Facility shall not exceed the Borrowing Limit of C$22.5 million. The Credit Facility will have a term of 12 months, which may be extended for an additional 12 months upon mutual agreement.
  • Oxford Finance Closes $50 Million Credit Facility with Mainstay Medical
    April 20, 2021
    Oxford Finance LLC (“Oxford”), a specialty finance firm that provides senior debt to life sciences and healthcare services companies worldwide, has announced the closing of a $50 million senior secured term loan with Mainstay Medical Holdings plc (“Mainstay” or “the Company”), a medical device company focused on commercializing an innovative implantable restorative neurostimulation system, ReActiv8®, for the treatment of disabling mechanical chronic low back pain (“CLBP”).
  • SYNNEX Corporation Successfully Enters into $5.0 Billion Credit Facility
    April 20, 2021
    Citigroup Global Markets Inc. and its affiliates acted as sole lead arranger and bookrunner for the bridge loan facility and joint lead arranger and joint bookrunner for the new revolving credit and term loan facilities along with Bank of America, N.A., The Bank of Nova Scotia, Wells Fargo Bank, National Association, HSBC Bank USA, N.A., and MUFG Bank, Ltd, and Sumitomo Mitsui Banking Corporation acted as a joint lead arranger and joint lead bookrunner on the term loan facility.
  • Guru Organic Energy Enters Into $10 Million Credit Facility With CIBC
    April 20, 2021
    GURU Organic Energy Corp. (TSX: GURU) (“GURU” or the “Company”), Canada’s leading organic energy drink brand, is pleased to announce that it has entered into a three-year committed $10 million credit facility with the Canadian Imperial Bank of Commerce (“CIBC”), replacing its current facilities.
  • Seyfarth Adds Cybersecurity Lawyer Paul Ferrillo in New York Office
    April 20, 2021
    Seyfarth announced today the arrival of partner Paul Ferrillo to its Litigation department, global Privacy & Cybersecurity team, and Securities & Fiduciary Duty Litigation group in New York. Ferrillo was most recently a partner at McDermott Will & Emery LLP in New York.
  • Tiger Promotes Schloemer to Director of Business Development for Midwest
    April 20, 2021
    Eric Schloemer has been promoted to Director of Business Development for Tiger Group, which specializes in a variety of asset dispositions and valuations, as well as secured debt financing and equity investments. The 14-year veteran of the financial services industry was previously a Senior Associate in Tiger’s Valuation Services division.
  • Enviva Partners, LP Increases Revolver Capacity and Extends Credit Facility
    April 20, 2021
    Barclays is Administrative Agent and Collateral Agent on the Amended & Restated Credit Facility and, together with Bank of Montreal, Citibank, N.A., Goldman Sachs Bank USA, HSBC Bank USA, N.A., JPMorgan Chase Bank, N.A., and Royal Bank of Canada acted as Joint Bookrunner, Joint Lead Arranger, and Co-Documentation Agent. AgFirst Farm Credit Bank and American AgCredit, PCA acted as Joint Bookrunners, Joint Lead Arrangers, and Co-Syndication Agents.
  • PetIQ, Inc. Enters Into New $425 Million Credit Facilities
    April 20, 2021
    John Newland, PetIQ’s Chief Financial Officer, commented, “We are pleased to have partnered with both Jefferies Finance LLC and Key Bank National Association on these new credit facilities which offer more favorable terms, a 125-basis point decrease in our annual interest rate on our term loan and greater financial flexibility to support our future growth.”
  • RRD Extends Its Senior Secured Asset-Based Revolving Credit Facility
    April 20, 2021
    R.R. Donnelley & Sons Company (NYSE: RRD) (“RRD” or the “Company”) today announced that it has completed an amendment (the “ABL Amendment”) to the credit agreement for its senior secured asset-based revolving credit facility (the “ABL Credit Facility”) with Bank of America, N.A., JPMorgan Chase Bank, N.A., PNC Bank, National Association, and Wells Fargo Bank, National Association, acting as joint lead arrangers and joint book runners for the ABL Amendment.
  • Wintrust Receivables Finance Closes new $4.75 Million Line of Credit for Logistics and Transportation Management Firm
    April 20, 2021
    Wintrust Receivables Finance announced the closing of a new $4.75 million line of credit for a provider of logistics and transportation management services. The family-owned and operated company manages both the inbound and outbound freight for a number of well-known firms in the retail and industrial food sector. The company lost its largest customer in mid-2019, and efforts to replace that revenue were delayed by the early shutdowns related to COVID-19.
  • Rezolute Announces $30 Million Debt Financing Agreement with SLR Capital Partners
    April 19, 2021
    Rezolute, Inc. (“Rezolute” or “the Company”) (Nasdaq: RZLT), a clinical stage biopharmaceutical company dedicated to advancing targeted therapies for rare and metabolic diseases with serious unmet needs, today announced that it has entered into a $30 million debt financing agreement with investment affiliates managed by SLR Capital Partners (“SLR”).
  • Insulet Announces Launch of Syndication of New Credit Facilities
    April 19, 2021
    Insulet Corporation (NASDAQ:PODD) (Insulet or the Company), the global leader in tubeless insulin pump technology with its Omnipod® brand of products, today announced that it has launched the syndication of new senior secured credit facilities, comprised of a senior secured revolving facility and a senior secured term loan B facility (the senior secured credit facilities).
  • Katten Appoints Kimberly Smith as Corporate Global Chair
    April 19, 2021
    Katten announced today that Kimberly Smith has been named the firm’s new global chair of its Corporate department effective immediately. Smith will lead more than 125 attorneys housed in the department and succeeds Mark R. Grossmann, who served as global chair of the group for more than a decade.
  • Stroock Adds Leading M&A and Private Equity Partner to Growing Corporate Group
    April 19, 2021
    Peter J. Rooney, a seasoned M&A and private equity lawyer with nearly 30 years of experience, has joined Stroock’s national Corporate Group as a partner in the New York Office. Peter joins Stroock from Morrison & Foerster, where he was a partner. Peter’s practice centers on representation of U.S. and multinational corporations, private equity firms and financial institutions in connection with leveraged buyouts, mergers, acquisitions, dispositions and related financings.
  • Business Capital Delivers $12 Million for California Asphalt Producer
    April 19, 2021
    BizCap® (Business Capital since 2002) structured and delivered a $12MM asset-based line of credit for a producer of asphalt sold primarily to large highway construction companies in the state of California. The Company also produces distillate and naptha, sold to local refineries for the production of gasoline. Crude oil is processed into these finished products at its own plant, which has been in operation for over 88 years.
  • J D Factors Announces Factoring Facilities
    April 19, 2021
    J D Factors announced it provided the following factoring facilities: $400,000 to a transportation company in Nova Scotia; $200,000 to a transportation company in New York; $75,000 to a transportation company in Georgia and $250,000 to a transportation company in Illinois.
  • Crestmark Provides More Than $70.5 Million in Commercial Financing to 83 Businesses in the Second Half of March
    April 19, 2021
    Crestmark secured a total of $15,150,000 in ABL/factoring financial solutions for seven new clients; Crestmark Equipment Finance provided $30,768,825 in 15 new transactions; Crestmark Vendor Finance provided $6,544,102 in 57 new transactions; and the Government Guaranteed Lending group provided $18,126,800 in financing for four new clients in the second half of March.
  • American Homes 4 Rent Announces $1.25 Billion Sustainability-Linked Revolving Credit Facility
    April 19, 2021
    American Homes 4 Rent (NYSE: AMH) (the "Company"), a leading provider of high-quality single-family homes for rent, today announced that the Company and its operating partnership, American Homes 4 Rent, L.P. (the "Borrower"), successfully closed a $1.25 billion, sustainability-linked revolving credit facility (the "Credit Facility"), amending its existing $800 million revolving credit facility. A total of 15 lenders participated in the Company's Credit Facility, including Wells Fargo Bank, National Association as Administrative Agent and JPMorgan Chase Bank, N.A. as Syndication Agent.
  • MONTICELLOAM, LLC Appoints New Managing Director to Take Lead of Advisory Services Team
    April 19, 2021
    MONTICELLOAM, LLC (“Monticello”), a specialized private real estate and asset-based lender, servicer and manager providing innovative capital solutions, announced that it has hired and appointed Darren Margulis as Managing Director to oversee its Advisory Services business unit, which provides lenders and financial institutions custom asset management and special servicing solutions that are specifically designed for the Seniors Housing industry.
  • Marlin Business Services Corp. Enters Into Definitive Agreement To Be Acquired by Funds Managed By HPS Investment Partners LLC
    April 19, 2021
    Marlin Business Services Corp. (NASDAQ: MRLN), a nationwide provider of capital solutions to small businesses (“Marlin” or the “Company”), today announced that it has entered into a definitive agreement in which HPS Investment Partners LLC (“HPS”) will, through its European Asset Value Funds, acquire all of the Company’s outstanding shares of common stock in an all cash transaction for $23.50 per share, as potentially subject to downward adjustment discussed below, which represents a 65% premium over the closing price of Marlin’s common stock of $14.24 on April 16, 2021.
  • Siena Bolsters Commitment to Midwest Markets with Panico Hire
    April 19, 2021
    Siena Lending Group LLC ("Siena") is pleased to announce the addition of Joe Panico, bolstering the firm’s commitment to serving clients across the Midwest. Panico joins the Siena team as Director of Originations, based in Cleveland, where he will focus on providing asset-based lending (ABL) solutions for middle-market companies in Ohio, Michigan, Pennsylvania and Western New York.
  • Vornado Extends One of its Two Revolving Credit Facilities
    April 19, 2021
    The joint lead arrangers and joint bookrunners for the facility are JPMorgan Chase Bank, N.A., BofA Securities, Inc., PNC Capital Markets LLC, U.S. Bank National Association, and Wells Fargo Securities LLC. JPMorgan Chase Bank, N.A. serves as Administrative Agent and J.P. Morgan Securities LLC serves as Sustainability Structuring Agent. Bank of America, N.A., PNC Bank, National Association, U.S. Bank National Association and Wells Fargo Bank, National Association serve as Co-Syndication Agents.
  • SLR Business Credit Funds Veterinary Supplies Company
    April 19, 2021
    SLR Business Credit announced it provided a $12 million asset-based revolving line of credit to a distributor of veterinary medicine and supplies. Working through an investment banking group, the owners of this veterinary supplies company in Nebraska were introduced to SLR Business Credit to refinance existing bank debt and provide additional working capital to support growth.
  • Alleon Healthcare Capital Announces Recent Financings
    April 19, 2021
    Alleon Healthcare Capital is proud to announce the following recent additions to its healthcare providers financing portfolio: $25 million infusion pharmacy, $2.5 million for a home healthcare provider, $1 million for a genetic testing laboratory...
  • Marco Completes Funding for Another Staffing Company
    April 19, 2021
    Marco Capital Inc. established a $600K factoring facility for a New York based staffing company specializing in providing global technology firms with temporary personnel. Building the business and extending terms to its customers was stretching out cash flow and impacting further growth.
  • Haversine Funding Announces Recent Transactions
    April 19, 2021
    Haversine Funding announced the following recently closed transactions: $3,000,000 participation in a medical receivables asset-based loan for an infusion pharmacy; $150,000 factoring participation in a telecommunications infrastructure services firm; $1 million subordinated debt facility to support the growth of a staffing factor and $5.6 million senior secured funding for a commercial real estate loan to a sawmill.
  • JLL Maintains Strong Financial Profile and Liquidity with Renewed Credit Facility
    April 19, 2021
    Jones Lang LaSalle Incorporated (NYSE:JLL) has amended its bank credit facility to maintain the company's operating flexibility and support its growth strategy. BMO Capital Markets Corp. and BofA Securities, Inc. were Joint Lead Arrangers for this transaction. In addition, HSBC Securities (USA) Inc., JPMorgan Chase Bank, N.A. and Wells Fargo Securities, LLC were Joint Bookrunners for this transaction.
  • General Mills Becomes First U.S. Consumer Packaged Goods Company to Enter Into a Sustainability-Linked Revolving Credit Facility
    April 19, 2021
    The amendment extends the maturity of the credit facility to 2026 and includes 20 of the company’s banking partners. Joint lead arrangers and joint book runners on this transaction include BofA Securities, Inc., JPMorgan Chase Bank, Barclays Bank PLC, Citibank, N.A, Deutsche Bank Securities Inc., and BNP Paribas. BofA Securities, Inc. is acting as the Sustainability Coordinator.
  • EVCS Secures Credit Facility With Macquarie Group
    April 19, 2021
    EVCS, one of the largest electric vehicle (EV) fast-charging network operators on the U.S. West Coast, today announced that it has closed a credit facility with the Commodity and Global Markets group of Macquarie Group. The credit facility will enable EVCS to deliver on the installation of a significant pipeline of Direct Current Fast-Charging (DCFC) stations, adding to its existing large-scale DCFC network.
  • SSG Advises New Hampshire Plastics in the Sale of Substantially all of its Assets to Grimco, Inc.
    April 19, 2021
    SSG Capital Advisors, LLC (“SSG”) acted as the investment banker to New Hampshire Plastics, LLC (“NHP” or the “Company”) in the sale of substantially all of its assets to Grimco, Inc. (“Grimco”). The transaction closed in March 2021. New Hampshire Plastics is a leading manufacturer of High-Impact Polystyrene (“HIPS”). The Company primarily produces custom roll and sheet-extruded HIPS for several end markets.
  • CrowdOut Capital Announces Closing $20 Million Facility to Lane Gate Advisors, LP Senior Secured Term Loan to Life Settlement Policy Investor
    April 15, 2021
    CrowdOut Capital LLC, a pioneering non-bank lender for lower middle-market businesses, announced today the initial funding of a $20 million facility to Lane Gate Advisors. “We are thrilled to add a great borrower to our loan portfolio,” stated Alexander Schoenbaum, Chief Executive Officer of CrowdOut Capital. “Lane Gate has a team of experienced life settlement investors with a differentiated, niche strategy. CrowdOut is excited to be invested in such a quality, non-correlated asset space.”
  • Banc of California Names Alex Kweskin Executive Vice President and Chief Human Resources Officer
    April 15, 2021
    Banc of California, Inc. (NYSE: BANC) (the “Company”), the holding company for Banc of California, N.A. (the “Bank”), today announced the appointment of Alex Kweskin as Executive Vice President and Chief Human Resources Officer of the Company and the Bank, effective Monday, May 3, 2021. Mr. Kweskin will be based in Santa Ana and report to Jared Wolff, President and CEO.
  • Assembled Brands Closes Revolving Line of Credit with InStyler
    April 15, 2021
    Assembled Brands is thrilled to celebrate the closing of a new revolving line of credit with InStyler, a high-tech hair and beauty company based in Culver City, California. Since launching their business in 2009, InStyler has developed into the market leader in innovative products for hair care and has substantially grown their online presence in addition to selling at retailers like Bed Bath & Beyond, Target, and Walmart.
  • ABA Report: Consumer Delinquencies Rose in Fourth Quarter of 2020
    April 15, 2021
    After two consecutive quarters of declines, consumer credit delinquencies rose in the fourth quarter of 2020 as the toll of the pandemic-induced recession weighed on the economy, according to results from the American Bankers Association’s Consumer Credit Delinquency Bulletin. Overall, delinquencies rose in each of the 11 loan categories tracked by ABA.
  • Citizens Advises Air Purchases of New Hampshire on its Sale to Munch’s Supply, a Portfolio Company of Ridgemont Equity Partners
    April 15, 2021
    Citizens M&A Advisory announced today that it served as the exclusive financial advisor to Air Purchases of New Hampshire, Inc. (“API”) in its sale to Munch’s Supply, a portfolio company of Charlotte-based Ridgemont Equity Partners. Headquartered in Manchester, N.H., API is a leading distributor of premium HVAC equipment and accessories for residential and commercial end markets.
  • CapitalPlus Construction Services Announces Recent Transactions
    April 15, 2021
    With increased demand for building services and bank credit still tight, a wide range of companies took advantage of CapitalPlus’ speedy accounts receivable funding to confidently take on new work this March.
  • BHI Healthcare Group Arranges $41.8MM Construction Financing for new Miami Senior Living Facility
    April 15, 2021
    BHI, a full-service commercial bank, announced that its Healthcare Group has arranged $41,860,000 in construction financing for the Oasis at Coral Reef, a new 217,123-square-foot luxury senior living facility under development in Miami, adjacent to Jackson South Medical Center. BHI has provided financing of $31,860,000 and Coastal States Bank $10 million. The borrower is Royal Senior Care, which owns and operates senior living facilities in the Southeastern United States with a primary focus in South Florida.
  • White Oak ABL Line Increase and Extension Reaches $95MM Credit Facility With Hunt & Sons, Inc.
    April 15, 2021
    White Oak ABL, LLC (“White Oak”), an affiliate of White Oak Global Advisors, LLC, announced it provided a second $10 million line increase and extension, bringing the total ABL Credit Facility to $95 million, to Hunt & Sons, Inc., a third-generation, family-owned diversified petroleum products distributor. This is the fourth amendment closed between the firms.
  • LBC Credit Partners Closes Fifth Fund Platform
    April 15, 2021
    LBC Credit Partners ("LBC”) announced the final closing of LBC Credit Partners V, L.P. (“LBC V”), and a fund raised contemporaneously adding $808 million of equity commitments to the firm’s capital base. To date, LBC V has funded 28 investments and with LBC’s robust pipeline, the firm continues to evaluate many opportunities for the platform.
  • Humacyte Secures $50 Million Debt Facility with Silicon Valley Bank
    April 15, 2021
    Humacyte, Inc., a clinical-stage biotechnology platform company developing universally implantable bioengineered human tissue at commercial scale, today announced the closing of a secured debt financing facility with Silicon Valley Bank for up to $50 million, of which the first $20 million was funded at closing.
  • Monroe Capital Adds to Marketing Team by Hiring Jayro Yoo
    April 15, 2021
    Monroe Capital LLC today announced Jayro Yoo has joined the firm as Director based in Texas. Jayro will serve on the firm’s Marketing & Investor Relations team. Prior to Monroe, Jayro was a Vice President at DWS Asset Management where he focused on raising capital for DWS’s alternative investment platform.
  • Moody's - ESG Risks Vary Across Structured Finance Asset Classes and Regions
    April 15, 2021
    Environmental, social and governance (ESG) issues pose higher credit risk to certain structured finance asset classes and certain global regions, with evolving regulations and shifting consumer demand exposing transactions to the potential for falling asset values or declining cash flow. According to a new report from Moody's Investors Service, structural features, short loan tenors and asset diversification help minimize ESG issues' credit negative effects on securitizations and covered bond deals.
  • Crestmark, a division of MetaBank, Names Rick Pierman as Crestmark Equipment Finance Senior Vice President, Business Unit President
    April 14, 2021
    Crestmark is pleased to announce that Rick Pierman has been named senior vice president, business unit president of the Crestmark Equipment Finance (CEF) business unit. Based in Troy, Pierman will report to division president, Christopher Soupal. Pierman previously held the role of senior vice president, strategic operations with CEF. In this new role, he is responsible for overseeing CEF’s equipment finance portfolio, succeeding Tom Rutherford, who remains with the company in support of division special projects.
  • Beverage Company in Idaho Chooses TAB Bank for a $3 Million Revolving Credit Facility
    April 14, 2021
    A beverage company in Idaho has chosen TAB Bank for a $3 million revolving credit facility. The new facility is extended through a multi-year agreement and will provide the means to fund growth for the company. The company is a wholesaler of beverage products. In 2019, the company entered into a contract with a sizeable retail customer to serve their beverage products at all their locations nationwide.
  • Travelers Capital Selects Ritchie Bros. as its Preferred Disposition Agent and Valuation Partner
    April 14, 2021
    Travelers Capital, a transitional capital financing initiative from Travelers Financial Group designed to support small and mid-market businesses that operate in asset-intensive industries, announced today its alliance with Ritchie Bros., a leading global provider of asset management, valuation, and disposition solutions.
  • Earnings in the U.S. Middle Market Grew by 16% in First Two Months of Q1 2021
    April 14, 2021
    Middle market private companies in the Golub Capital Altman Index experienced year-over-year earnings growth of 16.3% and revenue growth of 3.2% during the first two months of the first quarter of 2021. This compares to year-over-year earnings growth of 14.9% and revenue growth of 2.9% in the fourth quarter of 2020. This is the last comparison of post-Covid profit performance to a completely pre-Covid period, and the growth rate demonstrates very meaningful economic strength in the U.S. middle market.
  • Runway Growth Credit Fund Provides First Quarter 2021 Portfolio Update
    April 14, 2021
    Runway Growth funded seven loans during the first quarter ended March 31, 2021, including two investments in new portfolio companies and five follow-on investments in existing portfolio companies. These included a $25 million senior secured term loan commitment to Allurion Technologies, Inc.; $20 million senior secured term loan commitment to Bombora, Inc.; $15 million additional funding to existing portfolio company Vero Biotech LLC and $3.3 million advance to four existing portfolio companies.
  • L Catterton to Acquire West Marine
    April 14, 2021
    L Catterton, the largest global consumer-focused private equity firm, today announced that it has entered into a definitive agreement under which L Catterton will acquire a controlling interest in West Marine (the "Company"), the nation's leading omni-channel platform in the marine aftermarket, from Monomoy Capital Partners. Terms of the transaction were not disclosed.
  • Cross River Partners with SeedFi to Provide Access to Affordable Financial Products, Fueling Increased Economic Inclusion
    April 14, 2021
    Cross River, a technology-focused financial services organization and Banking-as-a-Service (“BaaS”) provider, today announced that it is powering SeedFi’s new Credit Builder and Borrow & Grow Plans through its banking and technology platform, as well as providing debt financing through its Strategic Direct Lending Group.
  • FTI Consulting U.S. Loan Market Survey: Lenders Are Cautiously Optimistic for 2021, But Concerns Remain
    April 14, 2021
    According to the survey, which was conducted from February 22 to March 12, less than a majority (41%) of respondents expect strong economic growth (real GDP > 4%) this year, yet 70% said that the effects of Federal Reserve policy actions and benign credit market conditions will dampen default and restructuring activity for up to one year. Despite this, only 25% of respondents expect loan default and workout activity will be sharply lower this year, with most expecting such activity to be robust or above average in 2021.
  • Navios Maritime Acquisition Corporation Announces Entry Into New Secured Loan Facility
    April 13, 2021
    Navios Maritime Acquisition Corporation (“Navios Acquisition” or the “Borrower”) (NYSE: NNA), an owner and operator of tanker vessels, announced that Navios Acquisition entered into a secured loan agreement with a subsidiary of N Shipmanagement Acquisition Corp. (“Lender”), an entity affiliated with Navios Acquisition’s Chairman and Chief Executive Officer, for a loan of up to $100.0 million to be used for general corporate purposes (the “Loan”).
  • Stabilis Solutions Secures $10 Million Credit Facility
    April 13, 2021
    Stabilis Solutions, Inc. ("Stabilis" or the "Company") (OTCQX:SLNG), a leading provider of energy transition services including hydrogen and liquified natural gas ("LNG") fueling solutions, today announced that it has secured a $10 million credit facility that will be used to support the Company's working capital requirements. The credit facility is being provided by Ameristate Bank in conjunction with the U.S. Department of Agriculture's ("USDA") Business & Industry Loan Program. Ark-La-Tex Financial Consultants, L.L.C. acted as broker and consultant on the transaction.
  • Car Capital Closes $20 Million Debt Deal With Medalist Partners
    April 13, 2021
    Car Capital, an automotive FinTech company, has closed a $20 million credit line with Medalist Partners. This transaction gives Car Capital access to capital to expand their business, fund deals, and ultimately get consumers into cars. Car Capital's proprietary, web-based platform, Dealer Electronic Auto Loan System (DEALSSM) allows franchise and independent dealers to make 24/7 immediate auto loan decisions for 100% of their customers.
  • American Shared Hospital Services Announces $22 Million Debt Refinancing and New Strategic Banking Relationship with Fifth Third Bank
    April 13, 2021
    American Shared Hospital Services (NYSE American: AMS) (the "Company"), a leading provider of turnkey technology solutions for stereotactic radiosurgery and advanced radiation therapy equipment and services, today announced the signing of a $22 million credit agreement with Fifth Third Bank, N.A., the principal subsidiary of Fifth Third Bancorp, a diversified bank holding company headquartered in Cincinnati, Ohio, with over $200 billion in assets.
  • Citizens Business Bank Hires President
    April 13, 2021
    CVB Financial Corp. (“CVBF”), the holding company for Citizens Business Bank (“CBB”), is pleased to announce the appointment of Brian T. Mauntel as the President of CBB, effective April 26, 2021. In his new position, Mr. Mauntel will be responsible for overseeing the Bank’s 57 business financial centers, specialty lending groups including Dairy & Livestock and Agribusiness, sales support groups, and our wealth management division, CitizensTrust.
  • NXT Capital Provides Senior Credit Facility to Support Wind Point Partners’ Acquisition of Zone Mechanical
    April 13, 2021
    NXT Capital announced today that it provided a senior credit facility in support of Wind Point Partners’ acquisition of Zone Mechanical. NXT Capital acted as the sole lead arranger and bookrunner on this transaction. Zone Mechanical is one of the largest providers of commercial and industrial refrigeration installation and maintenance services to customers in Illinois, Wisconsin, Michigan and Indiana.
  • Hitachi Business Finance Expands to Upper Midwest; Hires Heather Rachel as Origination Leader
    April 13, 2021
    Hitachi Business Finance has announced that Heather Rachel has joined their business development team, where she will focus her efforts on supporting business owners and trusted advisors across the United States. Based in the greater Minneapolis area, Rachel will assist growing businesses with efficient access to working capital.
  • SG Credit Partners Provides $1.0MM High Net Worth Guarantor-Based Loan
    April 13, 2021
    SG Credit Partners announced it provided $1 million for a privately-held family investment vehicle. SG was able to underwrite this transaction by taking a holistic approach toward the Guarantors’ personal financial profile, and not restricting leverage solely to the subject property.
  • PO Financing From Gateway Trade Funding Provided A Canadian-Based Watch Company Funding To Take On A New Large Order
    April 13, 2021
    Gateway Trade Funding provided Maéstro Watch Co., a Canadian-based watch company, with a $500,000 purchase order facility that allowed them to take on the new client faster than most other financing sources would have. Gateway understood and identified their current and future needs, assuring that Maéstro will have financing available if needed moving forward, which exceeded their goals. Knowing this makes new business acquisition easier for Maéstro.
  • Rosenthal’s Southeast Team Closes Five Deals in March
    April 13, 2021
    Rosenthal & Rosenthal, Inc., a leading factoring, asset-based lending and purchase order financing firm in the U.S., today announced the completion of five transactions last month that will help address working capital needs, mitigate risk and support growth opportunities for several of the firm’s clients across the Southeast. The transactions – three factoring deals, one asset-based lending deal and one purchase order financing transaction – demonstrate Rosenthal’s solution-based approach and breadth of funding options.
  • J D Factors Announces Factoring Facilities
    April 13, 2021
    J D Factors announced it provided: $50,000 to a transportation company in Texas; $200,000 to a transportation company in Rhode Island; $100,000 to a transportation company in Manitoba; $100,000 to a transportation company in Quebec...
  • Industry Experts Launch Specialized Debt Advisory Firm, Crown Partners
    April 12, 2021
    Commercial and specialty finance veterans Mark Seigel, Evan Nadler and Tony Liobis announce the launch of Crown Partners, an independent advisory firm specializing in $5 -$75 million senior credit facilities and loan products for US companies that are in need of incremental working capital, executing an acquisition, or undergoing a turnaround.
  • North Mill Equipment Finance LLC Restructures Working Capital Solution and Expands Customer Benefits
    April 12, 2021
    North Mill Equipment Finance LLC (“North Mill”), a leading independent commercial equipment lessor providing small-ticket financing through its network of referral agents, announced today that it has restructured its working capital solution to make it more competitive with other, less cost-effective options on the market.
  • Sterling National Bank Signs Banking as a Service Agreement with BrightFi
    April 12, 2021
    Sterling National Bank, the wholly-owned operating bank subsidiary of Sterling Bancorp (NYSE: STL), today announced it has entered into a Banking as a Service agreement with BrightFi, a provider of cloud-based digital banking platform technology and services to regional and community banks and non-bank entities.
  • John C. Stern Named President of U.S. Bank Global Corporate Trust and Custody
    April 12, 2021
    U.S. Bank today announced that John C. Stern has been named president of its Global Corporate Trust and Custody business within U.S. Bank Wealth Management and Investment Services. Stern, who currently serves as U.S. Bancorp Corporate Treasurer, will assume his role effective May 17, 2021. Stern is a 20-year veteran of U.S. Bank, and has steadily risen through the ranks in Corporate Treasury while building a record of leadership and success.
  • PNC Bank Appoints New Regional President, Head of Corporate Banking In Wisconsin; New Midwest Region Corporate Banking Leader
    April 12, 2021
    PNC Bank, N.A. today announced the appointment of Chris Hermann as the regional president and head of Corporate Banking for Wisconsin, effective April 12. In this role, he will lead the effort to provide customers and clients in the market with access to a full range of products and capabilities through PNC’s Main Street Bank model, in addition to delivering on the bank’s commitment to supporting local communities in Wisconsin.
  • Superior Plus Announces Completion of the Sale of its Specialty Chemicals Business, Amendment and Extension of its Syndicated Credit Facility and Details for the 2021 Virtual Investor Day
    April 12, 2021
    Superior is also pleased to announce that its wholly-owned subsidiaries, Superior Plus LP, Superior General Partner Inc. and Superior Plus US Financing Inc., have completed an extension of their $750 million senior secured revolving credit facility (the “Credit Facility”) with The Bank of Nova Scotia and TD Securities as Co-Lead Arrangers, and a syndicate of ten lenders. The Credit Facility will now mature on May 8, 2026 and has been amended to reflect the release of certain obligors from its terms as a result of the Transaction.
  • Cadence Bank Agrees to Merge with Mississippi Lender in $6B Deal
    April 12, 2021
    Houston-based Cadence Bancorporation, parent company of Cadence Bank, announced Monday it would merge with BancorpSouth Bank in an all-stock transaction with a market value of more than $6 billion. According to a filing with the Securities and Exchange Commission, the combined entity would be the fifth-largest institution in Texas and the Southeast, with assets of around $44 billion.
  • Cambridge Savings Bank Asset-Based Lending Team Empowers Expansion of Historic Local Business Worcester Envelope Company
    April 12, 2021
    Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and more than $5 billion in assets, today announced it provided Worcester Envelope Company with an expanded credit facility, based upon the growth expected as Worcester becomes part of the performance driven marketing company Moore.
  • First Business Bank’s Asset-Based Lending Group Closes $16 Million Credit Facility
    April 12, 2021
    Pete Lowney, President – Asset-Based Lending at First Business Specialty Finance, LLC, a subsidiary of First Business Bank, announces a recently closed and funded $16 million revolving line of credit facility for a musical instrument retailer in Minnesota.
  • Genesis Energy, L.P. Enters into a New Facility Extending Its Secured Credit Availability into March 2024 and Provides an Operational Update
    April 12, 2021
    Genesis Energy, L.P (NYSE: GEL) announced today that it has successfully syndicated and closed on a refinancing of its existing revolving credit facility with $950 million in new commitments from existing lenders, including a new $650 million revolving credit facility and a $300 million Term Loan A, both due March 15, 2024. Proceeds from the Term Loan A will be used to repay an equivalent amount outstanding under the existing revolving facility.
  • Automotores Gildemeister Commences Solicitation of Comprehensive Prepackaged Restructuring Plan with Support of Secured Noteholders
    April 12, 2021
    Automotores Gildemeister Chile ("AG" or the "Company") today announced that it has commenced solicitation of its previously announced pre-packaged chapter 11 plan of reorganization (the "Plan"), which seeks to deleverage the Company's balance sheet by approximately $200 million while minimizing any impact on its day-to-day operations. The restructuring under the Plan will create a sustainable capital structure with less debt that will position the company for future success with brighter prospects and a greater ability to serve its customers for years to come.
  • Abacus Finance Provides Senior Debt Financing to Support the Refinance of LifeSpan Biosciences, Inc. by Thompson Street Capital
    April 12, 2021
    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 Lead Arranger for senior secured credit facilities to support the refinance of LifeSpan Biosciences, Inc. (LSBio) by Thompson Street Capital Partners. Abacus also made an equity co-investment in LSBio.
  • Dealmakers Optimistic Private Credit Markets Will Fully Rebound Questions Emerge About Lender/Investor Relations, LIBOR
    April 12, 2021
    Initially sideswiped by COVID-19 in early 2020, private credit markets began to bounce back by year’s end, leaving dealmakers optimistic that private credit might fully rebound in 2021. According to a new survey of 112 private credit industry professionals conducted in February, 91 percent of investors and 80 percent of lenders surveyed expect deal flow to increase this year and are optimistic about several deal categories and sectors.
  • JPMorgan Chase Commercial Banking Launches Specialized Green Economy Team
    April 12, 2021
    Today, JPMorgan Chase Commercial Banking announced the new Green Economy specialized industry team, which will provide dedicated banking services and expertise to companies that produce environmentally-friendly goods and services or focus on environmental conservation. JPMorgan Chase Commercial Banking has named Brian Lehman as the Head of Green Economy. Lehman, who will build a dedicated team of bankers to serve the segment, has more than 20 years of client-facing experience and deep knowledge of sustainable finance.
  • KPS Capital Partners to Acquire EMEA Food and Consumer Packaging Business from Crown Holdings
    April 12, 2021
    Rothschild & Co is acting as lead financial advisor and Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as legal counsel to KPS and its affiliates. Barclays and UBS are also acting as financial advisors to KPS and its affiliates. Debt financing to support the transaction is being led by Barclays and Deutsche Bank along with BNP Paribas, Credit Suisse and UBS Investment Bank.
  • SLR Business Credit Funds Midwest Meat Producer
    April 12, 2021
    When a group of investors with industry experience found the opportunity to purchase a Midwest producer of high-quality fresh and frozen ground meat out of bankruptcy via a 363 sale, they turned to their community bank.
  • First Foundation Bank Promotes Michael Berry to Director of Commercial Banking
    April 12, 2021
    First Foundation Inc. (NASDAQ: FFWM), a financial services company with two wholly-owned operating subsidiaries, First Foundation Advisors and First Foundation Bank, announced today the promotion of Michael Berry to Senior Vice President, Director of Commercial Banking of First Foundation Bank.
  • Oxford Finance Closes Credit Facility with Renalogic
    April 8, 2021
    Oxford Finance LLC (“Oxford”), a specialty finance firm that provides senior debt to healthcare services and life sciences companies worldwide, today announced the closing of a senior credit facility and revolving line of credit to Renalogic (or “the Company”), an industry leader in dialysis risk management and cost containment solutions.
  • Main Street Announces Amendment of its Credit Facility
    April 8, 2021
    Main Street Capital Corporation (NYSE: MAIN) ("Main Street") is pleased to announce the amendment of its revolving credit facility (the "Credit Facility"). The recently closed amendment provides an extension of the final maturity to April 2026. The total commitments of the Credit Facility increased from $780.0 million to $855.0 million while maintaining an expanded accordion feature that allows for an increase up to $1.2 billion of total commitments from new and existing lenders on the same terms and conditions as the existing commitments.
  • Blue Racer Midstream, LLC Amends and Restates Existing Revolving Credit Facility, Extending Maturity Three Years To 2025
    April 8, 2021
    A syndicate of 15 banks committed to the facility. Wells Fargo Securities, LLC (“Wells Fargo”) acted as sole bookrunner. Wells Fargo, Capital One, National Association, RBC Capital Markets, Toronto-Dominion Bank, New York Branch, BBVA USA, Truist Securities, Inc. and U.S. Bank National Association, acted as joint lead arrangers.
  • Yieldstreet Private Business Credit team Announces 8 New Deals Closed Totaling $93,400,000
    April 8, 2021
    The Yieldstreet Private Business Credit team built on their momentum from the fourth quarter of 2020 and sprinted through the first quarter of 2021 closing eight new deals for a total of $93.4 million. These deals are across both consumer and commercial asset classes, various positions within the capital stack, and different states.
  • Diversified Gas & Oil PLC Announces Borrowing Base Reaffirmation
    April 8, 2021
    London LSE-quoted Diversified Gas & Oil PLC (LSE:DGOC) ("DGO" or "the Company") is pleased to announce that the Company's bank lending group, led by KeyBank National Association (the "Bank Group"), reaffirmed the existing $425 million borrowing base of the Company's senior secured credit facility (the "Credit Facility") with no changes to pricing, covenants or other material terms after completing the Credit Facility's semi-annual redetermination.
  • Texas Capital Bancshares, Inc. Appoints Julia Harman as Head of Corporate Banking
    April 8, 2021
    Texas Capital Bank, N.A., and its parent company Texas Capital Bancshares, Inc. (NASDAQ: TCBI), collectively referred to herein as “Texas Capital Bank,” today announced that Julia Harman has been appointed to the newly created position of Head of Corporate Banking, effective immediately. This appointment reflects the Company’s commitment to grow its C&I offering through broader and more tailored services for larger clients. Ms. Harman will report directly to Rob C. Holmes, President and Chief Executive Officer of Texas Capital Bank, N.A. and Texas Capital Bancshares, Inc.
  • Tiger Group Online Auction on April 15 Features Embroidery and Garment-Printing Equipment from Full-Service Contract Decorator Gate NY
    April 8, 2021
    Tiger Group is now accepting bids for the April 15 online auction of assets from Holbrook-based embroidery and garment-printing company Gate NY, which had been a major drop-ship location for garment distributors from across the Northeast.
  • CIT Serves as Sole Lead Arranger on $27 Million Financing for Florida Warehouse and Distribution Center
    April 8, 2021
    CIT Group Inc. (NYSE: CIT) today announced that its Real Estate Finance business served as sole lead arranger on a $27 million loan to finance acquisition of a warehouse and distribution center in Green Cove Springs, Florida. The facility, located about 40 miles south of downtown Jacksonville, Florida, and close to the First Coast Expressway, consists of about 782,000 square feet of warehouse and distribution space, including about 209,000 square feet of refrigerated space. The property was acquired by an entity managed by PKY Special Situations LLC and will be managed by Parkway Property Investments.
  • Aramark Announces Upsized Revolving Credit Facility and Closing of Debt Refinancing
    April 7, 2021
    Aramark (NYSE:ARMK), a global leader in food, facilities management and uniforms, announced today that the Company finalized a 3-year extension on substantially all of its Revolving Credit Facility and Term Loan A to 2026. This action included an upsizing of Aramark’s Revolving Credit Facility to approximately $1.2 billion that increases the Company’s cash availability by over $200 million. In addition, Aramark closed its previously announced $833 million refinancing of the Company’s 2024 Term Loan B that extends the maturity to 2028.
  • Evoqua Water Technologies Announces Credit Facilities Refinancing
    April 7, 2021
    Evoqua Water Technologies Corp. (NYSE: AQUA), an industry leader in mission-critical water treatment solutions, today announced the refinancing of the company’s credit facilities on April 1, 2021. Wholly-owned subsidiaries of the company entered into a credit agreement, which provides for a $475 million term loan maturing on April 1, 2028 and a revolving credit facility of up to $350 million maturing on April 1, 2026, and a receivables financing agreement, which provides for a receivables finance facility of up to $150 million maturing on April 1, 2024.
  • Yesway Announces Refinancing of Approximately $460 Million Bank Credit Facility
    April 7, 2021
    Yesway is one of the country’s fastest growing convenience store chains, with over 400 stores located in Texas, New Mexico, South Dakota, Iowa, Kansas, Missouri, Wyoming, Oklahoma, and Nebraska, including most recently, the 304-store Allsup’s Convenience Store chain. (PRNewsfoto/Yesway) Yesway, one of the largest and fastest growing convenience store chains in the United States, today announced that it has successfully completed the refinancing of its term loan and revolving credit facilities in the amount of $410 million and $125 million, respectively.
  • Rise Run Capital Acquires DUX Waterfowl, CrossFirst Bank Provides Debt Financing
    April 7, 2021
    Legal counsel was provided by a Spencer Fane LLP team led by Brian Memory, Chris Summers and Macy Matthews. The transaction closed with debt financing provided by CrossFirst Bank.
  • SLR Healthcare ABL Announces Financing
    April 7, 2021
    SLR Healthcare ABL is pleased to announce it has provided a $4 million asset-based revolving line of credit in financing to a medical staffing company in April 2021.
  • Encina Lender Finance, LLC (ELF) Provides $35 Million Senior Credit Facility to Uown Facility to Uown Leasing, a Portfolio Company of 777 Partners
    April 7, 2021
    Encina Lender Finance, LLC (“ELF”) announced that it has provided a $35 million senior credit facility to Uown Leasing, which is a technology-enabled, consumer leasing platform focused on partnering with retailers of durable consumer goods (primarily furniture, bedding, wheel & tire, and appliances) to offer a lease-to-own financing product at the point-of-sale.
  • Soccodato Joins CohnReznick as Managing Director
    April 7, 2021
    CohnReznick LLP, one of the leading advisory, assurance, and tax firms in the United States, today announced that Giuseppe (Joseph) Soccodato has joined the firm as Managing Director in its rapidly growing Restructuring and Dispute Resolution practice. Based on Long Island, Soccodato has 30 years of experience in managing and restructuring international companies, critical departments, and worldwide operating divisions.
  • More Bankrupted Companies Opted For Reorganization, Not Liquidation, in 2020
    April 6, 2021
    Reorganization is now increasingly favored over liquidation, according to an analysis of COVID-era corporate bankruptcy filings by S&P Global Market Intelligence. Almost 62% of corporate bankruptcy filings last year sought to reorganize or restructure, the highest watermark since 2010, according to S&P data—and 2021 filings are set to outpace last year’s numbers. Conversely, in 2018 and 2019, liquidations were more commonly sought in bankruptcy filings.
  • SVB Leerink Builds out Structured Finance Practice
    April 6, 2021
    SVB Leerink, a leading investment bank specializing in healthcare and life sciences, announced today that Andrew Fineberg has been hired as a Managing Director to lead the firm's Structured Finance practice. Mr. Fineberg will be based in SVB Leerink's New York office and will report to Dan Dubin, Vice Chairman and Global Co-Head of Investment Banking.
  • AFC Gamma Provides FarmaceuticalRX with Senior Secured Credit Facility of up to $21 Million to Fund Its Ohio Expansion
    April 6, 2021
    AFC Gamma, Inc. (NASDAQ:AFCG) (“AFC”) today announced it has provided a credit facility of up to $21 million for FarmaceuticalRX LLC (“FarmRX”, the “Company”, or the “Borrower”). The credit facility is designed to provide capital to allow FarmRX to purchase and complete the build out of its +/-120,000 square foot Class 1 cultivation and processing facility and acquire the building housing its nearby dispensary operations in East Liverpool, Ohio.
  • RadNet Announces a Proposed Refinancing Transaction for its $611 Million Senior Secured Term Loan and $195 Million Senior Secured Revolving Credit Facility
    April 6, 2021
    RadNet, Inc. (NASDAQ: RDNT), a national leader in providing high-quality, cost-effective diagnostic imaging services through a network of owned and/or operated outpatient imaging centers, today announced a proposed refinancing transaction for its existing senior secured first lien term loan, which had a balance of $611 million as of December 31, 2020, and its $195 million senior secured revolving credit facility, which was undrawn as of year-end 2020.
  • Runway Growth Capital Announces a Senior Secured Term Loan of $25 Million to Allurion Technologies
    April 6, 2021
    Runway Growth Capital LLC ("Runway"), a leading provider of growth loans to both venture and non-venture backed companies seeking an alternative to raising equity, announced today the close of a senior secured term loan of $25 million to Allurion Technologies, a pioneering leader in the development of innovative, scalable and trusted weight loss experiences. The growth capital is expected to be used to fuel Allurion's global expansion.
  • FocalPoint Advises on Sale of Rohrer Corp. to Wellspring Capital
    April 6, 2021
    ShoreView Industries (“ShoreView”), in partnership with management, has completed the sale of Rohrer Corporation (“Rohrer” or the “Company”) to Wellspring Capital Management LLC (“Wellspring”). The terms of the transaction were not disclosed. Headquartered in Wadsworth, Ohio, Rohrer is a manufacturer of high-visibility paperboard and thermoformed plastic consumer packaging including graphically intensive blister, skin, folding carton, high volume board packaging, and clamshell packaging.
  • ETC Spices Up Organic Importer’s Business with a Flavorful $2.5M AR Facility
    April 6, 2021
    Express Trade Capital recently added some kick to their portfolio and put pep in their client’s steps with a $2.5M accounts receivables facility for a well-seasoned Nevada based organic spice importer in business since 2010. The client’s primary business is importing organic spices, herbs, and botanicals like cardamom, ginger, turmeric, and saffron.
  • Sky Business Credit Funds Four New Deals in March
    April 6, 2021
    The financing provided much-needed cash-flow to the following rapidly growing small businesses: $75,000 A/R factoring line to an HVAC contractor in Arkansas; $100,000 A/R factoring line to a telecommunications contractor in Minnesota; $200,000 A/R factoring line to a manufacturer in Illinois and a $1,500,000 A/R factoring line to a health care staffing company in Pennsylvania.
  • IDS and White Clarke Group Join Forces to Create a Secured Finance Technology Powerhouse
    April 6, 2021
    IDS, a leader in enterprise mission-critical solutions for secured finance, has agreed to acquire White Clarke Group, a leading provider of retail, fleet, wholesale and asset finance solutions for the automotive and equipment finance markets. The two companies combine to create a multi-asset class secured finance technology powerhouse supporting banks, independents, OEM captives and specialty finance firms globally. Five Arrows was advised by Robert W. Baird & Co. and Shoosmiths LLP. IDS and Thoma Bravo were advised by Kirkland & Ellis LLP.
  • Flatbay Capital Provides $5.6 MM CRE Loan for Arizona Logging Company
    April 6, 2021
    Flatbay Capital LLC (“Flatbay”) (www.flatbaycapital.com) announces the closing of a $5,600,000 loan for a logging company with multiple locations in Arizona, secured by an owner occupied commercial/industrial property with direct highway and rail access. The loan proceeds provided the necessary liquidity to pay off the incumbent lender, cash out for working capital, as well as funds to allocate towards expansion plans at the subject property.
  • Second Avenue Capital Partners Provides a $10 Million Senior Secured Credit Facility to Northern Reflections
    April 6, 2021
    Second Avenue Capital Partners, LLC (“SACP”) (www.secondavecp.com) announced it has closed on a US$10,000,000 senior secured credit facility to Northern Reflections Limited, one of Canada’s largest privately-held apparel retailers of women’s apparel. The credit facility will be used to refinance existing debt and provide the Company with enhanced flexibility to explore future growth opportunities.
  • CIT Serves as Sole Lead Arranger on $18.5 Million Financing for Alabama Cancer Center
    April 6, 2021
    CIT Group Inc. (NYSE: CIT) today announced that its Healthcare Finance business served as sole lead arranger on an $18.5 million loan to finance the acquisition of the Singing River Cancer Center in Florence, Alabama. The borrower, Cypress West Partners is an experienced and successful owner and manager of healthcare properties that has a long history of acquisition financing with CIT.
  • NJ Law Firm Expands Bankruptcy & Creditors' Rights Practice
    April 6, 2021
    David Edelberg, a bankruptcy law attorney with decades of experience handling various bankruptcy matters has joined Scarinci Hollenbeck's Lyndhurst, NJ office as Partner, according to the firm's Managing Partner Donald Scarinci. Mr. Edelberg brings with him years of experience handling matters relating to loan structuring & workouts, bankruptcy litigation, secured creditors, lenders & landlord representation, as well as debtor representation.
  • Gordon Brothers Publishes Two Articles on Retail’s Digital Transformation & Shifting Consumer Behavior
    April 6, 2021
    Gordon Brothers, the global advisory, restructuring and investment firm, has published two articles about the digital transformation and shifting consumer behavior within the retail industry. As a result of the ongoing pandemic, customer journeys are now more digitally focused, and more shoppers are looking for easy online or mobile purchasing.
  • Gordon Brothers Welcomes Joe Massaroni as Conrad Lauten Retires
    April 5, 2021
    Gordon Brothers, the global advisory, restructuring and investment firm, has named Joe Massaroni as Director, Business Development as Conrad Lauten retires. Based in Atlanta, Massaroni will lead efforts to develop and maintain strong client relationships across the Southeast. Massaroni joins Gordon Brothers with decades of experience in secured finance. He’s worked at several lending institutions throughout his career and previously served as director and team leader responsible for managing key relationships and more than $4 billion of account commitments.
  • Dustin Jacobson Joins TAB Bank’s Business Development Team
    April 5, 2021
    TAB Bank is pleased to announce the addition of Dustin Jacobson (303-319-5434, dustin.jacobson@tabbank.com) to their business development team as Vice President and Business Development Officer. Dustin is based in Denver and is responsible for sourcing new business opportunities by providing asset-based and factoring working capital facilities to commercial entities in the Rocky Mountain region of the United States with annual revenues of $2 million to $150 million.
  • Palladium Equity Partners Names Nancy A. Mitchell Chief Administrative Officer
    April 5, 2021
    Palladium Equity Partners, LLC, a middle market private equity firm with nearly $3 billion in assets under management, today announced that Nancy A. Mitchell has been named Chief Administrative Officer, a newly-created position. Ms. Mitchell joins Palladium from O'Melveny & Myers LLP, where she was a Partner.
  • Journey Medical Corporation Enters $7.5 Million Line of Credit Agreement with East West Bank
    April 5, 2021
    Journey Medical Corporation (“Journey Medical”), a partner company of Fortress Biotech, Inc. (NASDAQ: FBIO) (“Fortress”), today announced that it has entered into an agreement with East West Bank (“EWB”) in which EWB will provide a $7.5 million working capital line of credit. The line of credit is secured by Journey Medical’s receivables and cash.
  • Sterling National Bank Signs Agreement with Rho Technologies
    April 5, 2021
    Sterling National Bank, the wholly-owned operating bank subsidiary of Sterling Bancorp (NYSE: STL), today announced a Banking as a Service (BaaS) agreement with Rho Technologies, the fintech company behind Rho Business Banking. Rho Technologies is a digital platform that provides companies with a suite of commercial banking and financial software solutions.
  • Gibraltar Provides Steel Fabricator Improved Liquidity with $5MM ABL
    April 5, 2021
    Ideal Steel needed a financing partner that could provide a flexible structure and improved liquidity as the business looked to transform into a more streamlined operation and position itself for future growth opportunities. GBC was able to support this goal by providing a $5MM ABL without restrictive covenants that also provided flexibility to the company shareholders.
  • Encina Business Credit Promotes Tron Allen to Chief Commercial Officer
    April 5, 2021
    Encina Business Credit, LLC (EBC) announced today that it has promoted Tron Allen to chief commercial officer. Allen most recently served as EBC’s executive managing director and Central Region Leader. He joined the company in connection with its March 2016 launch as a senior managing director focused on business development efforts in the Southwest Region.
  • TradeCap Partners Supports Feeding America Initiative Through $2.5MM Production Finance Facility to VC Backed Consumer Packaged Goods Company
    April 5, 2021
    TradeCap Partners recently closed a $2.5MM purchase order finance facility for a West coast-based consumer packaged goods company. The venture capital backed company partnered with a major wholesaler to contribute to Feeding America.
  • King Trade Capital Expands Suite of Services with Leading Global Freight Forwarder
    April 5, 2021
    Jaguar Freight, a leading global freight forwarder and U.S-based NVOCC., together with King Trade Capital, the largest purchase order finance company in the U.S., have announced the addition of a new trade and purchase order finance solution to Jaguar’s portfolio of services.
  • FSW Funding Promotes Bennett to Director of Operations
    April 5, 2021
    FSW Funding, a Phoenix-based company that specializes in financing solutions for small and mid-size businesses, recently promoted Ashton Bennett to the position of Director of Operations. Bennett will oversee the management of the factoring and asset-based lending portfolio.
  • Bank of America Acquires Axia Technologies, Inc.
    April 5, 2021
    Bank of America today announced that it has acquired Axia Technologies, Inc. (“AxiaMed”), an industry-leading health care payment and technology company focused on facilitating secure patient payments. The acquisition will deepen and expand Bank of America’s payment offerings for healthcare clients and will further accelerate the bank’s ability to serve this key vertical. It is part of a broader initiative to integrate merchant services onto its proprietary platform following the dissolution of its merchant services joint venture last year. Terms of the acquisition were not disclosed.
  • Guggenheim Investments Announces Internal Executive Promotions
    April 5, 2021
    Guggenheim Investments, the global asset management and investment advisory business of Guggenheim Partners, is pleased to announce the appointment of Dina DiLorenzo and David Rone, as Co-Presidents of Guggenheim Investments. Investment decisions will continue to be supervised and executed by investment personnel, as has been the case since our founding. Those activities are led by Scott Minerd, Guggenheim Partners Global Chief Investment Officer and Chairman of Guggenheim Investments, and by CIO of Fixed Income Anne Walsh.
  • Private Equity Partners Anthony Norris and Christopher Rile to Join Sidley in New York
    April 5, 2021
    Sidley Austin LLP is pleased to announce that Anthony Norris and Christopher Rile are joining the firm in New York as partners in its global M&A and Private Equity practice. They join from Ropes & Gray LLP, where they have been longtime partners in the firm’s private equity transaction group.
  • ING Leads $650 Million Inaugural Syndicated Secured Loan for Pilot Company's Energy Division
    April 5, 2021
    ING led a new $650 million syndicated secured borrowing base loan on behalf of the energy and wholesale marketing division of Pilot Company, one of the leading suppliers of fuel and the largest operator of travel centers in North America. The facility supports Pilot Company's oil product purchase and storage, energy and wholesale marketing, logistics and merchant activities. ING acted as the Sole Mandated Lead Arranger and Bookrunner, with participant lenders BNP Paribas, Rabobank, MUFG and Wells Fargo Bank N.A.
  • Avtech Capital, LLC Announces Credit Facility with Capital One, N.A.
    April 5, 2021
    Avtech Capital, LLC ("Avtech" or the "Company") today announced the completion of a new credit facility with Capital One, N.A. The facility was established to provide additional liquidity to support the Company's growth strategies and diversify its funding model.
  • J D Factors Provided Factoring Facilities
    April 5, 2021
    J D Factors announced it provided the following factoring facilities: $1,000,000 to a transportation courier company in California; $100,000 to a transportation company in Alberta; $300,000 to a transportation company in Illinois; $100,000 to a transportation company in Alberta...
  • Aurora Capital Partners Acquires Curtis Bay Medical Waste Services; Antares Arranges Debt Financing for the Transaction
    April 5, 2021
    Aurora Capital Partners ("Aurora"), a leading middle-market private equity firm, today announced the acquisition of Curtis Bay Medical Waste Services ("Curtis Bay"), an industry leader in medical waste collection, treatment and disposal services, from Summer Street Capital Partners.
  • Serving Small Businesses: 20-Year Corporate Banking Veteran to Expand Regions’ SBA Lending Focus
    April 5, 2021
    Regions Bank on Thursday announced Caroline Taylor has joined its Corporate Banking group as senior vice president and head of Small Business Administration (SBA) Lending. Taylor brings extensive banking experience focused on meeting the financial needs of small businesses. Reporting to Timothy Monte, executive vice president and head of Credit Products for Regions, Taylor will be based in North Carolina while guiding services for Regions’ small-business clients across the South, Midwest and Texas.
  • WW International Announces Refinancing Of Debt Maturities
    April 5, 2021
    WW International, Inc. (NASDAQ: WW) (the “Company”) announced today that it has completed the pricing and allocation of the previously announced $1.5 billion refinancing of its existing credit facilities and senior notes. The refinancing is expected to close on April 13, 2021, subject to customary closing conditions.
  • SLR Capital Partners Names Phil Guerin Chief Marketing Officer
    April 5, 2021
    SLR Capital Partners, LLC ("SLR"), a leading commercial finance platform with expertise across cash flow and specialty finance senior secured financing solutions for U.S. middle market companies, announces that Phil Guerin, Senior Partner and Head of Originations, has been named Chief Marketing Officer. Additionally, Mr. Guerin has joined SLR's Investment Committee. We appreciate and recognize Mr. Guerin's leadership role in delivering the firm's full suite of financing solutions to its clients.
  • Fora Financial Announces New Senior Credit Facility, Borrowing Capacity Increases to Up to $150 Million
    April 5, 2021
    Fora Financial, a leading provider of flexible working capital to small- and medium-sized businesses nationwide, announced today the closing of a $100 million revolving credit facility with Credit Suisse and Hudson Cove Capital Management. Sector Financial Inc., an affiliate of Credit Suisse, provided access to the debt facility, which will give the company up to $150 million of borrowing capacity over the next two years.
  • Jennifer Rabinowitz Joins Ritchie Bros. as a National Strategic Accounts Manager in the Bankruptcy and Insolvency Group
    April 5, 2021
    Jennifer Rabinowitz has joined Ritchie Bros. as a National Strategic Accounts Manager in the Bankruptcy and Insolvency Group. She will be responsible for developing custom solutions for complex situations with regard to asset valuations and liquidations. Ms. Rabinowitz brings three decades of sales and marketing experience, with 20 years focused specifically in the financial services space.
  • Goulston & Storrs Announces 2021 Partner Elevations
    April 1, 2021
    Goulston & Storrs, an Am Law 200 firm, has promoted five attorneys to partner, Timothy John Carter, Brian W. Dugdale, George W. Evans, III, Philip E. Tedesco, and Megan Watts. "We are thrilled to elevate these five talented attorneys to director," said Bill Dillon, Co-Managing Director at Goulston & Storrs. "Each one has proven themselves invaluable to our firm and our clients, and we look forward to their continued success as members of our firm's partnership."
  • Burns & Levinson Elects Three Attorneys to Partnership
    April 1, 2021
    Burns & Levinson LLP has elected three attorneys – Caitlin Barrett, Laura Lee Mittelman, and Bryan Natale – to the firm's partnership effective April 1. "We are excited to welcome these three attorneys to the firm's partnership. They are all talented attorneys who have worked hard to reach this important milestone in their careers," said managing partner David P. Rosenblatt. "We look forward to their continuing contributions as partners for many years to come."
  • Ares Management to Acquire Landmark Partners for $1.08B
    April 1, 2021
    Ares Management Corp. said it has struck an agreement with a BrightSphere Investment Group Inc. subsidiary and Landmark Investment Holdings LP to buy Landmark Partners LLC, an investor that acquires secondary private fund ownership stakes, for $1.08 billion.
  • Neuberger Berman MLP And Energy Income Fund Announces Amendment To Leverage Facility And Declaration Of Monthly Distribution
    April 1, 2021
    Neuberger Berman MLP and Energy Income Fund Inc. (NYSE American: NML) (the "Fund") announced today that it has amended its revolving credit facility (the "Facility") to increase the amount of available debt financing in order to bring it more in line with the Fund's current asset level. Under the amended terms of the Facility, the lender's total commitment increased from $50 million to $75 million, the commitment fee and spread-component of the interest rate were lowered and the duration of the Facility was extended, among other changes.
  • Full House Resorts Announces $15.0 Million Senior Secured Revolving Credit Facility
    April 1, 2021
    Full House Resorts, Inc. (Nasdaq: FLL) announced today that it has entered into an agreement for a five-year, senior secured revolving credit facility. The $15.0 million credit facility may be used for working capital, letters of credit, and other ongoing general purposes.
  • Fluent Announces New $65 Million Credit Facility
    April 1, 2021
    Fluent, Inc. (NASDAQ: FLNT), a leading data-driven performance marketing company, today announced the entry into a new five-year credit agreement, consisting of a $50.0 million term loan and a revolving credit facility of up to $15.0 million, provided by Citizens Bank, N.A., as administrative agent, lead arranger and bookrunner, and BankUnited, N.A. and Silicon Valley Bank.
  • Gordon Brothers Provides Secured Credit Facility to Nicole Miller
    April 1, 2021
    Gordon Brothers announced it is providing a secured credit facility to Nicole Miller, the eponymous fashion and lifestyle brand founded and led by Nicole Miller. The facility is secured by the company’s intellectual property and will be used to fund strategic growth initiatives.
  • Associated Bank Originates Loan for Portfolio of Four Bus Terminals in Suburban Chicago
    April 1, 2021
    Associated Bank has announced the completion of a $12,255,100 term loan for VK Industrial V, LP, an affiliate of Venture One Real Estate, for the acquisition of a Chicago-area logistics portfolio and billboard site. The portfolio includes four bus terminal sites and a separate billboard site. The properties are located in the Central DuPage and Fox Valley industrial submarkets of Chicago.
  • Horizon Technology Finance Management Announces Platform Expansion
    April 1, 2021
    Horizon Technology Finance Management LLC ("Horizon"), a registered investment advisor that underwrites and manages secured loans made to companies in the technology, life science, healthcare information and services, and sustainability industries, and the manager and advisor for Horizon Technology Finance Corporation (NASDAQ: HRZN), announced today that on March 4, 2021 it entered into an agreement with Waterfall Asset Management, LLC ("Waterfall") to originate and manage a venture debt portfolio. Horizon will originate and manage an initial commitment of $100 million, with the potential to increase to $300 million over time.
  • Crestmark Provides More Than $22.1 Million in Commercial Financing to 65 Businesses in the First Half of March
    March 31, 2021
    Crestmark secured a total of $9,715,246 in ABL financial solutions for six new clients; Crestmark Equipment Finance provided $7,543,149 in four new lease transactions; and Crestmark Vendor Finance provided $4,928,905 in 55 new lease transactions.
  • CIT Provides Financing for North Las Vegas Logistics Campus
    March 31, 2021
    CIT Group Inc. (NYSE: CIT) today announced that its Real Estate Finance business provided financing for construction of a new 730,000-square-foot logistics center and campus in North Las Vegas, Nevada. Construction on the SunPoint West facility is expected to begin in April and conclude in approximately 12 months. The campus is located near Interstate 15 in North Las Vegas, well-known as an attractive area for shipping and logistics centers.
  • Crowe Promotes Steven Edwards to Partner in Insolvency Team
    March 31, 2021
    Based in the firm’s Kent offices, Steven Edwards is a licenced insolvency practitioner with more than 20 years of experience in corporate recovery and turnaround working with a variety of owner managed business and non-profit clients. He works closely with banks, asset based lenders, accountants and solicitors, providing advice to companies under financial stress.
  • Duke Realty (DRE) Amends and Restates Revolving Credit Facility
    March 31, 2021
    Duke Realty Corp. DRE announced the closing of refinancing of its revolving credit facility with sustainability-linked pricing incentive. The move has also helped the company lower its borrowing costs from the prior facility. Particularly, the company’s operating partnership has amended and restated its $1.2-billion unsecured revolving credit facility. The facility will now mature in March 2025 and allows two six-month extensions. Further, it includes an uncommitted incremental facility that enables the facility to be enhanced by up to $800 million.
  • Matrix Makes Hire and Two Promotions
    March 31, 2021
    Matrix Capital Markets Group Inc., an independent investment bank has made two promotions and a new hire to the downstream energy and convenience retail investment banking group. John T. Mickelinc has been promoted to associate. Michael J. Tucker, CFA, has been promoted to senior analyst. Matrix has also added James P. Mickelinc, analyst, as a member of the downstream energy and convenience retail investment banking group.
  • Angel Oak Commercial Lending Makes More Key Hires, Plans Expansion on West Coast and in Wholesale Market
    March 31, 2021
    Angel Oak Commercial Lending, LLC (“Angel Oak”), a specialty finance company committed to meeting the underserved financing needs of commercial real estate owners, developers and investors, announces the hiring of David Pike as managing director and Bob Forsythe as senior managing director. Both began work in early March and report to co-Presidents Nik Chillar and Rick Gallitto.
  • Neiman Marcus Group Completes Successful Refinancing, Reaffirming Business Momentum
    March 31, 2021
    Neiman Marcus Holding Company, Inc. today announced the completed refinancing of a substantial portion of its exit facilities with an aggregate principal amount of $1.1 billion of new 7.125% senior secured notes due 2026 issued by NMG Holding Company, Inc., a Delaware corporation, and The Neiman Marcus Group LLC, a Delaware limited liability company. The transaction, initially sized at $1 billion, was increased to $1.1 billion in response to demand from institutional investors.
  • Hertz Progresses Toward Chapter 11 Exit In Second Quarter Of 2021 As Robust Negotiations Regarding Plan Sponsorship Continue
    March 31, 2021
    Hertz Global Holdings, Inc. (OTCPK:HTZGQ) ("Hertz" or the "Company") announced today that it has made all of the required court filings in its Chapter 11 case needed to continue the process it initiated at the beginning of March 2021 to exit Chapter 11 in June 2021. White & Case LLP is serving as legal advisor, Moelis & Co. is serving as investment banker, and FTI Consulting is serving as financial advisor.
  • KKR Augments Asset-Based Finance Investing with Appointments to Global Private Credit Team
    March 31, 2021
    KKR, a leading global investment firm, today announced the appointments of two Managing Directors in the firm’s global private credit team who will focus on sourcing investment opportunities in the specialty lending and private asset-based finance (“ABF”) markets. Jim Lees and Vaibhav Piplapure (“VP”) join the firm as Managing Directors based in New York and London, respectively.
  • LSQ Closes $3MM Credit Facility for TN-Based Manufacturer
    March 31, 2021
    LSQ, a leading provider of technology-driven working capital solutions, announced that the company originated an additional $3 million facility for an existing textile manufacturing client in Tennessee. The client, an owner of another subsidiary, immediately needed to replace their existing asset-based lending facility. Their incumbent lender had asked them to exit and find a new lender for working capital due to deteriorating financial performance.
  • Old Hill Partners Increases Funding Commitment to ByzFunder
    March 30, 2021
    Old Hill Partners has increased its committed credit facility to ByzFunder NY, a New York-based provider of working capital solutions in the form of merchant cash advances, to $12 million. The commitment increase will further accelerate the growth of the company and allow it to expand into additional credit tiers.
  • TTEC Increases its Credit Facility to $1.2 Billion
    March 30, 2021
    Incremental commitments were provided by a syndicate of banks arranged by Wells Fargo, N.A., including Bank of America N.A., U.S. Bank N.A., PNC Bank, N.A., Bank of the West, and Northern Trust, N.A.
  • NuBridge Commercial Lending Completes Credit Facility with Cadence Business Finance
    March 30, 2021
    NuBridge Commercial Lending LLC, a small-balance commercial bridge lender, announced today its completion of a new senior secured revolving credit facility with Cadence Business Finance, a division of Cadence Bank. The initial size of this 36-month committed credit facility is $20 million and is expected to grow to at least $50 million.
  • White Oak Healthcare Finance Closes Financing to Support the Acquisition of ViaQuest
    March 30, 2021
    White Oak Healthcare Finance, LLC (“White Oak”) announced today that it acted as sole lender and administrative agent on the funding of a senior credit facility for ViaQuest Holdings, Ltd. and affiliates (“ViaQuest”) to support the acquisition by Council Capital, a Nashville based private equity fund. ViaQuest is a provider of services for individuals with intellectual and development disabilities (“I/DD”), hospice services, and other behavioral health services to individuals.
  • Citizens Advises Telestream on its Acquisition of Masstech
    March 30, 2021
    Citizens M&A Advisory announced today that it served as the exclusive financial advisor to Telestream in its acquisition of Masstech. Telestream, a portfolio company of Genstar Capital, is a vertical market software business focused on the video space and is a global leader in media workflow orchestration, media streaming and delivery technologies.
  • CIT Northbridge Serves as Sole Lead Arranger on $23 Million Credit Facility for Nova Compression
    March 30, 2021
    CIT Group Inc. (NYSE: CIT) today announced that CIT Northbridge Credit, as advised by CIT Asset Management LLC, served as sole lead arranger on a $23 million credit facility for Nova Compression, LLC (a successor company to MGC Equipment Company, LLC). Founded in December 2010 and headquartered in Kilgore, Texas, Nova Compression supports clients in Louisiana and Texas with equipment rentals, installation, maintenance and repair of gas compressors.
  • Industry Veteran Joins Alterna Capital Solutions To Meet Exceptional Demand for Customized Growth Capital Financing
    March 30, 2021
    Alterna Capital Solutions (Alterna) announced today the addition of Roger Allen, a veteran of specialty and alternative financing in the SME market. Alterna founder and president, Stan Carpenter, welcomes Allen as chief operating officer as they reunite following assignments together successfully building and growing trusted long-term relationships with bank partners and small-business owners.
  • AeroCentury Corp. Files Petition for Chapter 11 Reorganization
    March 30, 2021
    AeroCentury Corp. (the “Company”) today announced it and certain of its subsidiaries commenced a voluntary case (the “Chapter 11 Case”) under chapter 11 of title 11 of the United States Code (“Chapter 11”) in the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”). Morrison & Foerster LLP and Young Conaway Stargatt & Taylor, LLP are serving as legal advisor, and B Riley Securities, Inc. is serving as financial advisor and investment banker.
  • Navacord Completes C$1.05 Billion Financing
    March 30, 2021
    Navacord Corp., one of Canada’s largest insurance brokerage firms and fastest growing multi-line brokers, today announced that it has completed a C$1.05 billion financing. The transaction provides Navacord with increased capacity to continue pursuing M&A transactions and other strategic growth initiatives. TD Securities is acting as administrative agent on the revolving credit facility and first lien term loan and Bank of Montreal is acting as administrative agent on the second lien term loan.
  • Augmedix Announces Successful Completion of Debt Refinancing
    March 30, 2021
    Augmedix, Inc. (“Augmedix”), a leading provider of remote medical documentation and live clinical support, announced that it has refinanced its long-term debt obligations through a secured term loan with Eastward Capital Partners. The new loan facility consists of a $15 million secured term loan and $2 million available in 4Q21 upon the achievement of certain financial objectives.
  • MSouth Capital to Bring Debt Financing and Minority Equity Capital to Middle Market Companies in the South
    March 30, 2021
    MSouth Equity Partners IV, L.P. ("MSouth Fund IV") has formed MSouth Capital as a provider of private credit and minority equity financing solutions, to meet the needs of companies in the South that have a desire to pursue recapitalizations, acquisitions or other corporate initiatives, with a focus on businesses generating EBITDA of $3 million or greater. MSouth Capital aims to deploy in excess of $350 million in its target markets over the next three years.
  • Antares Supports MPE Partners’ Acquisition of 80/20 Inc.
    March 30, 2021
    Antares announced today that it acted as administrative agent on senior secured credit facilities to support the acquisition of 80/20 Inc. by MPE Partners. Based in Columbia City, IN, 80/20 Inc. is the originator and manufacturer of “The Industrial Erector Set,” a modular aluminum T-slotted building system for various applications and end-markets.
  • U.S. Fintech OppFi Announces $50 Million Corporate Credit Facility With Atalaya Capital Management
    March 30, 2021
    Opportunity Financial, LLC (OppFi), a U.S.-based fintech platform that powers banks to help the everyday consumer gain access to credit, announced on Monday it has closed an expanded $50 million corporate credit facility with Atalaya Capital Management. OppFi’s key mission is to help consumers who are turned away by traditional providers build a better financial path.
  • Amerisource Closes $4,500,000 Credit Facility for Field Services Firm
    March 30, 2021
    Amerisource Business Capital announced the closing and funding of a $4,500,000 senior credit facility for a Texas based field services firm. The proceeds were used to support the company’s growth plans.
  • Banco Bradesco Joins LiquidX Platform as First Latin American Funder
    March 30, 2021
    LiquidX, the global technology platform for working capital, trade finance, and insurance, is pleased to welcome Banco Bradesco to its network. Banco Bradesco, founded in 1943, is the second largest private sector bank in Brazil by total assets, serving clients through 79.9 thousand Service Points, 70 million customers, and 32.3 million account holders.
  • J D Factors Announces Factoring Facilities
    March 29, 2021
    J D Factors announced it provided the following factoring facilities: $100,000 to a transportation company in Ontario; $100,000 to a transportation company in California; $75,000 to a transportation company in Nova Scotia; $200,000 to a transportation company in New Jersey.
  • Unity Bank Names Industry Veteran George Boyan Chief Financial Officer
    March 29, 2021
    Banking industry veteran George Boyan has joined Unity Bank as Chief Financial Officer (CFO) bringing more than 20 years of financial services industry leadership experience to the community bank. Boyan is responsible for financial and accounting operations for Unity Bancorp, Inc. (NASDAQ: UNTY), the parent company of Unity Bank, which manages approximately $2 billion in assets and $1.6 billion in deposits.
  • Faraday Future Announces it has Raised $100 Million in Debt Financing to Help Advance the Countdown to FF 91 Delivery, Following the Signing of the Merger Agreement with Property Solutions Acquisition Corp (PSAC)
    March 29, 2021
    Funds managed by the Credit Group of Ares Management Corporation (“Ares”) provided an $85 million commitment to lead the recent financing round, with the remainder provided by funds managed by affiliates of Birch Lake Fund Management, LP (“Birch Lake”) and other lenders.
  • Carpenter Technology Extends and Amends Credit Facility
    March 29, 2021
    Carpenter Technology Corporation (NYSE: CRS) (the “Company”) today announced the successful completion of a $300 million syndicated credit facility (the “Credit Facility”) by amending and restating the Company’s existing Credit Agreement which had been set to expire on March 31, 2022. The Credit Facility extends the maturity to March 31, 2024. Bank of America, N.A. and JPMorgan Chase Bank, N.A. served as the Joint Lead Arrangers.
  • WildBrain Completes Refinancing of Credit Facilities
    March 29, 2021
    WildBrain Ltd. ("WildBrain" or the "Company") (TSX: WILD), a global leader in kids and family entertainment, has completed the refinancing of its senior secured term loan with a new seven-year, US$285 million senior secured term loan facility (the "Term Loan"), maturing in March 2028. RBC Capital Markets acted as sole lead arranger and bookrunner on the refinancing.
  • Verra Mobility Announces Closing Of Senior Notes Offering And Refinancing Of Credit Facility
    March 29, 2021
    Verra Mobility (NASDAQ: VRRM), a leading provider of smart mobility technology solutions, today announced that it has completed its offering of 5.5 percent $350 million Senior Unsecured Notes due 2029 (the "Notes") and refinanced its existing 2018 credit agreement (as amended, the "Credit Agreement") with a new $650 million first lien term loan bearing an interest rate of the London Interbank Offered Rate ("LIBOR") plus 3.25 percent, which matures in 2028.
  • Greensill Capital’s U.S. Unit Seeks Chapter 11 Protection
    March 29, 2021
    Greensill Capital filed for Chapter 11 bankruptcy protection for its U.S. unit in New York, as another part of Lex Greensill’s trade finance empire seeks safety from its creditors. The firm filed for administration in the U.K. earlier in March, capping a stunning collapse for the specialty finance firm after key backers walked away over concerns about the valuation of its assets. Greensill’s Australian holding company also entered bankruptcy protection earlier this month.
  • Power Solutions International Announces Extension to Credit Agreement
    March 29, 2021
    Power Solutions International, Inc. (the “Company” or “PSI”) (OTC Pink: PSIX), a leader in the design, engineering and manufacture of emission-certified engines and power systems, announced today that it entered into a $130 million uncommitted senior secured revolving credit facility pursuant to that certain amended and restated uncommitted revolving credit agreement dated March 26, 2021 (the “amended Credit Agreement”), between the Company and Standard Chartered Bank (“Standard Chartered”).
  • Acerus Announces Amendment to Credit Agreement
    March 29, 2021
    Acerus Pharmaceuticals Corporation (“Acerus” or the “Company”) (TSX: ASP; OTCQB: ASPCF) today announced that it has entered into an amended agreement related to its existing credit facility with SWK Funding LLC (“SWK”), a subsidiary of SWK Holdings Corporation (Nasdaq: SWKH).
  • Crescent European Specialty Lending Announces Financing for DMC Group - A Global Leading Platform of Needlecraft Brands
    March 29, 2021
    Crescent Capital Group LP, a leading alternative asset management firm, announced today that its European Specialty Lending strategy has provided a unitranche facility to support the refinancing of DMC Group, a leading global platform of needlecraft brands and a portfolio company of Lion Capital. In addition, Crescent has provided an acquisition facility to further support strategic M&A. Terms of the financing were not disclosed.
  • CapitalPlus Launches New Materials Financing Product
    March 29, 2021
    CapitalPlus Construction Services, a leading provider of accounts receivable financing for the construction industry, has launched a new Materials Financing product to help contractors and subcontractors in all trades access mission-critical materials without tying up their capital.
  • A&G To Auction Industrial Redevelopment Parcel in Hammond, Indiana
    March 29, 2021
    A&G Real Estate Partners is now accepting bids for a 19.34-acre industrial parcel located approximately five miles from the Indiana/Illinois border and 25 miles from downtown Chicago. The bid deadline in the bankruptcy sale of the Hammond, Indiana, property is April 16.
  • Cerebro Capital Partners With Stanford's Ken Singleton
    March 29, 2021
    Cerebro Capital, a commercial loan marketplace platform, today announced a partnership with Ken Singleton, Adams Distinguished Professor of Management at the Graduate School of Business at Stanford University. Together, Cerebro and Singleton will study activity on the middle market and create analysis and content to help both borrowers and lenders better understand movements and drivers within the credit market.
  • Vireo Health Closes First Tranche of Debt Financing with Green Ivy Capital
    March 29, 2021
    Vireo Health International Inc., ("Vireo" or the "Company") (CNSX: VREO,OTCQX: VREOF), the leading physician-led, science-focused multi-state cannabis company, today announced that it has closed on the first tranche of the previously-announced senior secured, delayed draw term loan (the "Credit Facility") with Chicago Atlantic Group (the "agent"), an affiliate of Green Ivy Capital, and a group of lenders.
  • Slate Asset Management Announces $2.33 Billion Portfolio and Platform Acquisition from Annaly Capital Management, Inc.
    March 29, 2021
    BMO Capital Markets is serving as financial advisor and Goodwin Procter LLP and McCarthy Tétrault LLP as legal advisors to Slate. Evercore is serving as financial advisor and Ropes & Gray LLP as legal advisor to Annaly.
  • GEE Group Announces Commitment for New $20 Million Revolving Credit Facility
    March 29, 2021
    GEE Group Inc. (NYSEAmerican:JOB) ("GEE" or the "Company") a provider of professional staffing services and solutions, today announced that it has received and signed a commitment letter for a $20 million asset-based senior secured revolving credit facility (the "CIT Facility") from CIT, who will also serve as administrative and collateral agent and sole lead arranger.
  • MidCap Business Credit Provides $8 Million Credit Facility for Manufacturer of Precision Components and Assemblies
    March 29, 2021
    MidCap Business Credit announced today they have closed on an $8,000,000 asset-based credit facility for a manufacturer of precision components and assemblies in the aerospace and defense industry.
  • Moritt Hock & Hamroff Welcomes Scott K. Levine As Counsel
    March 29, 2021
    The law firm of Moritt Hock & Hamroff has announced that Scott K. Levine has joined the firm as Counsel. Mr. Levine will continue his practice in the firm's Creditors' Rights, Restructuring & Bankruptcy and Secured Lending, Equipment & Transportation Finance practice groups. Prior to joining Moritt Hock & Hamroff, Mr. Levine served as the managing partner of Platzer, Swergold, Levine, Goldberg, Katz & Jaslow LLP in New York City.
  • Helbiz Announces $15 Million Secured Term Loan Facility
    March 25, 2021
    Helbiz Inc., a micro-mobility leader, which has entered into an agreement to merge with GreenVision Acquisition Corp. (Nasdaq: GRNV), today announced it has entered into a $15.0 million secured term loan facility with an institutional lender. The loan was funded in full on March 23, 2021.
  • Angelo Gordon Bolsters Structured Credit Team With Senior Hires
    March 25, 2021
    Nicholas Smith, former Head of Non-Agency Residential Mortgage Trading and Asset-Backed Securities Trading at Bank of America Securities, has joined the Firm as Managing Director to lead the Firm’s whole loan business and expand the team’s capability across multiple asset classes. Rodney Hutter, former Managing Director and Head of Originations in the Structured Lending Group at Waterfall Asset Management, has joined the Firm as Managing Director responsible for private credit origination.
  • Drip Capital Closes $40M Committed Warehouse Credit Facility from East West Bancorp to Facilitate Trade Finance to Small Businesses
    March 25, 2021
    Drip Capital, a leading Fintech provider of cross-border trade finance, and East-West Bank (EWB), announce a US$ 40M committed credit facility for the expansion of Drip's trade finance solutions to small and medium-sized businesses (SMBs). Drip Capital closes $40M Committed Warehouse Credit Facility from East West Bancorp to facilitate trade finance to small businesses.
  • ING to Appoint Andrew Bester as Head of Wholesale Banking and Member of the Management Board Banking
    March 25, 2021
    ING announced today that Andrew Bester will be appointed member of the Management Board Banking and head of Wholesale Banking. Andrew takes up his position on 6 April 2021, succeeding Isabel Fernandez, who stepped down effective 31 December 2020. Andrew Bester (British/South African) has broad and deep banking experience, managing and transforming wholesale, retail and SME banking businesses across different geographies and economic cycles.
  • CIBC Innovation Banking Provides MayStreet with $10 Million in Growth Financing
    March 25, 2021
    CIBC Innovation Banking is pleased to announce a $10 million credit facility for New York-based MayStreet Inc. (“MayStreet”), an industry-leading market data technology and content provider. The credit facility is available to help the rapidly growing fintech firm further scale its business. Founded in 2012, MayStreet offers market data technology that delivers high-quality global market data to enable data-driven decision-making.
  • U.S. Bank Names Derek Martin St. Louis Market President
    March 25, 2021
    U.S. Bank announced today that Derek Martin has been named St. Louis market president, succeeding Larry Otto, who retired on March 19, 2021. For 20 years, Martin has successfully managed a deep and diverse portfolio of middle-market companies, ranging from manufacturing and retail to distribution and transportation. With this new role, he will lead the Commercial Banking group in the St. Louis market and direct U.S. Bank initiatives across the region.
  • CIT Northbridge Names Business Development Leader for Western U.S.
    March 25, 2021
    CIT Group Inc. (NYSE: CIT) today announced that CIT Northbridge Credit, as advised by CIT Asset Management LLC, has named Sandy Thomson as a managing director for business development activities across the western United States. Thomson, based in Los Angeles, will be responsible for sourcing new asset-based loan opportunities ranging from $15 million to $150 million. In most cases, these credit facilities will be available to business borrowers that may not currently fit the profile required by regulated institutional lenders.
  • Monroe Capital Supports Mammoth Holdings LLC’s Acquisition of Lulu’s Express
    March 25, 2021
    Monroe Capital LLC today announced an increase in its credit facility to Mammoth Holdings, LLC (“Mammoth”) to support the acquisition of Lulu’s Express (“Lulu’s”). In October 2018, Mammoth partnered with Red Dog Equity LLC, an Atlanta-based private equity firm, which, through its partnership with Tom Pritzker’s family business interests (advised by The Pritzker Organization), provides the equity for Mammoth’s corporate development initiatives.
  • NN, Inc. Announces Successful $265 Million Financing
    March 24, 2021
    J.P. Morgan acted as administrative agent, sole bookrunner and sole lead arranger on the asset based credit line, advised on the term loan, and served as sole placement agent on the preferred issuance. Bass, Berry & Sims PLC served as legal counsel to the Company on the transaction. Gibson, Dunn & Crutcher LLP served as legal counsel to Morgan Stanley Tactical Value.
  • Harborside Secures $12 Million Revolving Credit Facility
    March 24, 2021
    Harborside Inc. ("Harborside" or the "Company") (CSE: HBOR) (OTCQX: HBORF), a California-focused, vertically integrated cannabis enterprise, today announced it has entered into a loan financing arrangement with a commercial federally regulated bank (the "Bank"), in the amount of US$12 million (the "Loan") pursuant to a senior secured revolving credit facility (the "Credit Facility") due March 2024.
  • Global Eagle Successfully Completes Sale to Investor Group and Operations Emerge from Restructuring Process
    March 24, 2021
    Latham & Watkins LLP is serving as the Company’s legal counsel. Greenhill & Co., Inc. is serving as the Company’s financial advisor and Alvarez & Marsal is serving as the Company’s restructuring advisor. Gibson, Dunn & Crutcher LLP is serving as legal counsel to the ad hoc first lien lender group and new owners of the Company. Rothschild & Co is serving as financial advisor to the ad hoc first lien lender group and new owners of the Company.
  • Dye & Durham Upsizes Credit Facility to $700 Million
    March 24, 2021
    Dye & Durham Limited ("Dye & Durham" or the "Company") (TSX: DND), a leading provider of cloud-based software and technology solutions designed to improve efficiency and increase productivity for legal and business professionals, today announced that it has amended its existing financing arrangement, increasing the Company's total borrowing capacity to $700 million, comprised of a term loan of $245 million and a revolving facility of $455 million.
  • Biodesix Announces Closing of New $30 Million Term Loan
    March 24, 2021
    Biodesix, Inc. (NASDAQ: BDSX; “Biodesix” or the “Company”) a leading data-driven diagnostic solutions company with a focus in lung disease, announced today that it has closed on a new $30 million term loan (New Term Loan) which matures on March 1, 2026. Biodesix used the proceeds to repay outstanding borrowings of $25.9 million under the Company’s existing term loan with Innovatus Life Sciences Lending Fund I, LP (Innovatus), which was terminated upon payment.
  • TAB Bank Provides Transportation Factoring Company in Michigan with a $5 Million Rediscount Credit Facility
    March 24, 2021
    TAB Bank is pleased to announce it has provided a $5 million rediscount credit facility for a trucking factoring company based in Michigan. The facility is based on a multi-year agreement and will provide the means necessary to grow and expand the company’s growing portfolio.
  • J D Factors Announces Factoring Facilities
    March 24, 2021
    J D Factors announced it recently provided the following factoring facilities: $150,000 to a transportation company in New Jersey; $150,000 to a transportation company in Illinois; $150,000 to a transportation company in Ontario; $100,000 to a transportation company in California
  • Capital One Medical Office Team Sees Positive Business Momentum Through 2020
    March 24, 2021
    Capital One announced its Medical Office team, part of the Capital One Healthcare Real Estate business, closed 43 deals totaling about $2.5 billion throughout 2020. The team funded transactions ranging from $15 million single-asset loans to $1 billion value portfolios across medical office buildings, medical properties, life science transactions and healthcare REIT lending. Since 2010, this team–which was acquired in 2015 by Capital One from GE Capital Healthcare Financial Services–has financed in excess of $18 billion in balance sheet debt in the medical office and life sciences space.
  • Sallyport Commercial Finance Equips Solar Panel Supplier with Growth Finance of $7.0 Million Dollars
    March 24, 2021
    Sallyport Commercial Finance provided a $7.0 mm accounts receivable financing facility to a supplier of high-efficiency solar panels. Our client had a choice between a lower priced bank line with limitations or a more flexible facility from Sallyport. They choose growth and the confidence in partnering with Sallyport to help achieve their hopes and dreams.
  • Loan Defaults Fall Below 4%, Lowest Level Since June 2020
    March 24, 2021
    The March trailing 12-month institutional leveraged loan default rate stands at 3.9%, according to a new Fitch Ratings report. "The current 2021 forecast is 4.5%, but if market access remains as open and issuer-friendly as it has been, the rate will probably finish even lower," said Eric Rosenthal Senior Director of Leveraged Finance.
  • OCC Appoints Seven New Members to Minority Depository Institutions Advisory Committee
    March 24, 2021
    The Office of the Comptroller of the Currency (OCC) today named seven new members to its Minority Depository Institutions Advisory Committee (MDIAC). The MDIAC advises the OCC on steps it can take to ensure the continued health and viability of minority depository institutions and other issues of concern to these institutions.
  • CohnReznick Adds Nevins to Support Transactions & Turnaround Advisory Growth
    March 23, 2021
    CohnReznick LLP, one of the leading advisory, assurance, and tax firms in the United States, today announced that Karen Nevins has joined the firm as Head of Strategic Growth & Marketing for its rapidly growing Transactions & Turnaround Advisory practice. This new role comes on the heels of a period of rapid expansion for the practice, including strategic hires in key geographies. In 2020, CohnReznick’s Transactions & Turnaround Advisory also earned several prestigious awards including Top Transaction Advisory Firm (Global M&A Network), Turnaround and Transaction of the Year (Turnaround Management Association) and Out-of-Court Restructuring of the Year (Turnaround Atlas Awards).
  • Express Trade Capital provides a Slick $9.7MM SBLC Facility to a Petroleum Trading Company
    March 23, 2021
    Express is thrilled to announce and fossilize the completion of a $9,700,000 standby letter of credit (SBLC) facility. The facility fueled a commodity trader’s purchase of petroleum from a Canadian supplier. The facility was executed early in the first quarter of 2021 and covers ongoing shipments over a 12-month period.
  • Antares Capital Compass Survey of the Middle Market Points to Higher Levels of Economic Confidence
    March 23, 2021
    Despite market uncertainty at the height of the pandemic, positive economic sentiments have sharply rebounded in 2021. 59% of sponsors and 74% of investors are confident in the global economy over the next 12 months, up dramatically from 24% and 55% for the same groups, respectively, in 2020. Participants also report a 2021 recession is “very unlikely” despite lingering levels of financial stress in borrower portfolios.
  • Milberg Factors, Inc. Promotes Neil R. Desai to Partner and Senior Vice President
    March 23, 2021
    In this role, Desai is responsible for managing client relationships and is actively involved in new business development, working with colleagues in the New York, North Carolina, and Los Angeles offices.
  • Alan Turner Appointed HSBC Bank Canada Head of Commercial Banking
    March 23, 2021
    Alan Turner is appointed Head of Commercial Banking effective today, succeeding Linda Seymour who took on the role of President and Chief Executive Officer of HSBC Bank Canada in September 2020. In this role, Turner has responsibility for HSBC’s Large Corporates and Small and Medium Enterprise banking segments, as well as leading Global Trade and Receivables Finance in Canada.
  • Boeing Enters into $5.28 Billion Revolving Credit Agreement
    March 23, 2021
    Citigroup, JPMorgan Chase Bank, BofA Securities and Wells Fargo Securities are the joint lead arrangers and joint book managers, the planemaker said here on Monday.
  • Pathlight Capital Agents $17.5 Million Senior Secured FILO Term Facility For Destination XL Group, Inc.
    March 23, 2021
    Pathlight Capital announced it is serving as the FILO Agent on the recently funded $17.5 million first-in, last-out ("FILO") term loan facility for Destination XL Group, Inc. ("DXL" or the "Company"), the largest omni-channel specialty retailer of big and tall men's apparel. In addition to DXL Big + Tall, the Company also operates Casual Male XL retail and outlet stores and e-commerce sites including DXL.com.
  • Ankura Consulting Completes Debt Refinancing
    March 23, 2021
    Ankura Consulting, LLC ("Ankura" or the "Company"), a global provider of a broad range of consulting services, announced today that it has completed a broadly syndicated upsizing and refinancing of its debt facilities with a new $465 million first lien term loan, a new $175 million second lien term loan, and a new $70 million revolver. The refinancing will realign the Company's capital structure and financial flexibility for future growth.
  • Cornerstone Building Brands Announces Extension and Refinancing of Credit Facilities and Conditional Redemption of 8.00% Senior Notes
    March 23, 2021
    Cornerstone Building Brands, Inc. (NYSE: CNR) (the “Company”), the largest manufacturer of exterior building products, today announced its intention to amend and refinance its senior credit facilities, upsize, amend and extend the exiting Term Loan B, and pay down the existing 8.00% senior unsecured notes with cash from the balance sheet and proceeds from the upsized facility.
  • CNH Finance Announces Recent Financings
    March 23, 2021
    CNH Finance is pleased to announce recent financings supporting healthcare providers, food packaging and data analytics companies. Recent financings include revolving line of credit facilities secured by AR, Inventory, Bridge to HUD term debt and term debt supported by cash flow.
  • White Oak Healthcare MOB REIT Acquires 7 Medical Office Buildings in 5 States
    March 23, 2021
    White Oak Healthcare MOB REIT today announces the acquisition of seven medical office buildings in five states. The seven assets total 67,110 SF and are 100% leased to Fresenius and DaVita affiliates. The acquisition includes five Fresenius facilities in Berwyn, Illinois, Columbia, South Carolina, Little Rock, Arkansas, Solon, Ohio, and Birmingham, Alabama; as well as two DaVita facilities in Rockford, Illinois. All are located within close proximity to major medical districts.
  • Ruby Tuesday Consummates Court-Approved Reorganization Plan
    March 23, 2021
    RTI Holding Company, LLC (“Ruby Tuesday” or the “Company”) has emerged from bankruptcy through a consensual plan of reorganization under which the Company will be acquired by its lenders, TCW Direct Lending LLC (“TCW”) and Goldman Sachs Specialty Lending Group, L.P. (“GS”). FocalPoint Securities, LLC (“FocalPoint”) acted as the Company’s exclusive financial advisor in connection with this transaction.
  • Prestige Capital Announces $5,000,000 in Working Capital for a Global AV Firm
    March 23, 2021
    Prestige Capital Finance, LLC recently delivered $5,000,000 in working capital to an Arizona-based, Audio Visual (AV) firm that specializes in designing, building and installing cutting-edge AV systems for auditoriums, corporate boardrooms, classrooms and more.
  • Amerisource Closes $12,000,000 Credit Facility for Distribution Firm
    March 23, 2021
    Amerisource Business Capital announced the closing and funding of a $12,000,000 senior credit facility for a California based distributor of construction materials. The proceeds were used to provide additional growth capital.
  • SG Credit Partners Provides $1.25MM for Real Estate Acquisition
    March 23, 2021
    SG Credit Partners announced it provided $1.25 million for a single-asset real estate holding company owned by a prominent carwash company in the Midwest. The carwash company is just one subsidiary of a broader investment company with interests in a multitude of industries. SG underwrote the real estate as well as the personal guarantees of the two founders, who maintained significant outside personal liquidity as well as equity in various real estate and business holdings.
  • Entrepreneur Growth Capital Provides $1.8MM ABL to distributor
    March 23, 2021
    Entrepreneur Growth Capital (“EGC”) is pleased to announce that it has provided a $1.8MM asset based line of credit to a New Jersey based distributor of building materials (the “Company”). The 115-year-old company had covenant compliance issues with its long standing bank. EGC provided an accounts receivable and inventory revolver to meet the Company’s cash flow needs and payoff the bank.
  • Newtek Business Lending, LLC Closes $100 Million Credit Facility with Deutsche Bank AG
    March 23, 2021
    Newtek Business Services Corp., (Nasdaq: NEWT), an internally managed business development company (“BDC”), today announced that Newtek Business Lending, LLC (“NBL”), Newtek’s portfolio company that originates and funds SBA 504 loans, closed a $100 million credit facility with Deutsche Bank AG. The facility will be used to fund SBA 504 loans and has an initial two-year term.
  • Credit Suisse CEO Signals Potential Asset Management Spinoff
    March 23, 2021
    Credit Suisse Group AG CEO Thomas Gottstein signaled he’d consider further separating the asset-management unit from the rest of the bank after the Greensill Capital collapse, as he steps up efforts to limit the reputational damage from the supply-chain finance scandal.
  • Force 10 Partners Tapped to Restructure CarbonLite, a Leading Supplier of Recycled Content in Plastic Water Bottles
    March 23, 2021
    CarbonLite Holdings, LLC has retained Force 10 Partners to lead its restructuring effort, following its voluntary bankruptcy filing on March 8, 2021. Force 10 Co-founder Brian Weiss is serving as chief restructuring officer. The Force 10 team is focusing on the post-bankruptcy emergence of CarbonLite, one of the world's largest suppliers of post-consumer recycled polyethylene terephthalate (rPET), which is then used to produce high-quality food-grade recycled rPET material sold to the world's largest beverage companies for packaging.
  • 1st Capital Bancorp Announces Marci S. Davis as Chief Credit Officer
    March 23, 2021
    1st Capital Bancorp (the “company”) (OTC Pink: FISB), the holding company of 1st Capital Bank (the “bank”), announced today that Marci S. Davis has been named Executive Vice President and Chief Credit Officer of 1st Capital Bank. Ms. Davis will serve as a member of the executive leadership team and will be directly responsible for overseeing the Bank’s loan portfolio along with related credit processes.
  • Align Capital Partners Announces New Hires and Promotions
    March 23, 2021
    Align Capital Partners (“ACP”) is pleased to announce that James Moss and Angus Anderson join as Vice President and Operations Director, respectively, to support the firm’s continued growth. Additionally, ACP is announcing two promotions – Matt Iodice to Principal and Katie Noggle to Managing Director of Business Development.
  • Encina Business Credit Adds Barry Vecker to its Business Development Team
    March 23, 2021
    Mr. Vecker is an asset-based lending finance professional with over 25 years’ experience in new deal originations, underwriting and portfolio management. He previously served in business development and risk roles at Wells Fargo, Congress Financial, Israel Discount Bank, and The Bank of New York.
  • Rosenthal Closes $7.5 Million Asset-Based Lending Deal With Major Midwest Food Distributor
    March 23, 2021
    Rosenthal & Rosenthal, Inc., a leading factoring, asset-based lending and purchase order financing firm in the U.S., today announced the completion of a recent $7.5 million revolving credit facility to support the working capital needs of a Midwest-based food distributor serving restaurants up and down the East Coast.
  • Great Lakes Business Credit Names New Underwriter
    March 23, 2021
    Great Lakes Business Credit, an alternative commercial financing lender serving the Midwest, has named Rich Booms the company’s new senior underwriter. Booms offers Great Lakes Business Credit (GLBC) clients more than 10 years of underwriting and relationship management experience, including asset-based lending, leveraged finance, purchase invoice finance, small business banking, and private client lending.
  • Access Capital Closes $3 Million Facility with Next Move, Inc.
    March 23, 2021
    Next Move, Inc. is a Kansas City, Missouri-based healthcare staffing company that specializes in the placement of travel nurses at assignments throughout the Midwest. They have built a leading brand in the space by championing the continuous creation of relevant social media content, technology investments, and personalized candidate experiences.
  • CIT Serves as Sole Lead Arranger on $39 Million Financing for Philadelphia Medical Office Building
    March 23, 2021
    CIT Group Inc. (NYSE: CIT) today announced that its Healthcare Finance business served as sole lead arranger on a $39 million loan to finance the Jefferson Health medical office building adjoining the Philadelphia Navy Yard Corporate Center. The borrower, Norvin Healthcare Properties, is an experienced and successful manager of healthcare properties across a variety of markets. It acquired the four-story medical office building at 3 Crescent Drive in December 2019. The facility is located close to well-traveled locations such as the South Philadelphia Sports Complex, downtown Philadelphia, Interstate 95 and the neighboring Navy Yard.
  • Tiger Group Selling Robot-Automated Parts-Coating Lines and Other Assets Formerly Owned by Wheel Specialist Winona PVD Coatings
    March 23, 2021
    Tiger Group is now accepting bulk offers for four robot-automated parts-washing, powder-coating and vacuum metallizing lines formerly owned by Winona PVD Coatings—a Tier-One finisher that chrome-coated wheels for top automakers from around the globe. The company was placed in receivership in 2020.
  • EisnerAmper Launches “NFP Insights” Benchmarking Tool
    March 22, 2021
    EisnerAmper is pleased to announce that it has launched NFP Insights, a proprietary benchmarking tool that can compare a nonprofit organization against a database of 500,000 other nonprofits. Designed for tax-exempt organizations, donors, grant makers, board members and family offices, this unique tool can segment organizations by geography, revenue and number of employees.
  • Digi International Enters Into Amended and Restated Credit Agreement
    March 22, 2021
    Digi International Inc. (NASDAQ: DGII), a leading global provider of business and mission critical Internet of Things ("IoT") connectivity products, services and solutions, today announced it has entered into an amended and restated credit agreement with BMO Harris Bank N.A. as administrative agent and collateral agent. The new facility provides Digi with a senior secured credit facility consisting of a $200 million senior secured revolving credit facility with an option to increase the size of the facility by an additional $75 million.
  • Antares Capital Refinances and Upsizes Antares CLO 2017-1, Bringing CLO Assets Under Management to $7.7 Billion
    March 22, 2021
    Antares Capital Advisers LLC, a subsidiary of Antares Capital LP (together with its parent companies, “Antares” or the “Company”) announced the closing of the reset of Antares CLO 2017-1, Ltd., originally a $2.1 billion CLO that was upsized to $2.3 billion as part of the transaction. The upsize brings the company’s total CLO assets under management to approximately $7.7 billion.
  • Bryant Park Capital Secures a Senior Debt Facility for Healthcare Funding Partners, LLC
    March 22, 2021
    Bryant Park Capital ("BPC"), a leading middle market investment bank, announced today that Healthcare Funding Partners, LLC ("HFP" or the "Company") recently closed on a senior secured debt transaction with a global asset management firm with more than $100 billion in assets under management. BPC served as the exclusive financial advisor to HFP in connection with this transaction.
  • Universal Stainless Announces Amended and Restated Credit Agreement
    March 22, 2021
    Universal Stainless & Alloy Products, Inc. (Nasdaq: USAP) announced today that it has amended and restated its five-year $120 million asset-based lending (ABL) credit agreement with PNC Bank, National Association. The new agreement includes a revolving credit facility of $105 million and increases the term loan facility to $15 million.
  • Berkshire Hills Bancorp, Inc. Appoints Subhadeep Basu Chief Financial Officer
    March 22, 2021
    Berkshire Hills Bancorp, Inc. (NYSE: BHLB), the parent company of Berkshire Bank, announced today that Subhadeep Basu was appointed Senior Executive Vice President, Chief Financial Officer of the Company and the Bank. Mr. Basu will succeed James M. Moses, who has chosen to leave the company as of March 19th to pursue other interests.
  • BlueVine Appoints Former LendingClub President and PayPal Veteran Steve Allocca as First Chief Operating Officer
    March 22, 2021
    BlueVine, the leading provider of small business banking, announced today that it has named industry veteran Steve Allocca as its first Chief Operating Officer. In this role, Allocca will generate strong operational efficiency across the organization and drive growth across all products. He will report to Eyal Lifshitz, CEO and co-founder.
  • One Team Capital Appoints Veteran Financial Executive W. Taylor Kamp as Chief Executive Officer
    March 22, 2021
    OneTeam Capital (OTC), an industry leading underwriting and credit analysis company providing the best quality commercial financing solutions to small and medium sized businesses, today announced that its membership has appointed specialty finance industry veteran W. Taylor Kamp as Chief Executive Officer, effective March 11th, 2021. Mr. Kamp brings an impressive 35 year career of building and growing businesses to OTC. Kamp most recently served as the Chief Financial Officer of Marlin Capital Solutions.
  • Atotech Announces Refinancing of Senior Secured Credit Facilities
    March 18, 2021
    Goldman Sachs Bank USA serves as administrative agent and collateral agent under the Credit Agreement and Goldman Sachs Bank USA, JPMorgan Chase Bank, N.A, Barclays Bank Plc, Credit Suisse International, Credit Suisse Loan Funding LLC, Citibank, N.A., London Branch, Unicredit Bank AG, Deutsche Bank Securities Inc., HSBC Trinkaus & Burkhardt AG, Standard Chartered Bank AG, and TCG Senior Funding L.L.C. all serve as joint lead arrangers and joint bookrunners.
  • Hitachi Capital America’s Dave Gnade Retires, David Sowell Hired as Executive Vice President of Sales
    March 18, 2021
    Hitachi Capital America Vendor Services (HCAVS), which has been providing manufacturers and distributors with creative and competitive vendor financing solutions for over 20 years, is pleased to announce the hire of David Sowell as Executive Vice President of Sales. Sowell is replacing Dave Gnade upon his retirement at the end of the fiscal year on March 31, 2021.
  • Citizens Advises trustaff Management and CardioSolution on their Recapitalization by Cornell Capital and Trilantic North America
    March 18, 2021
    Citizens M&A Advisory announced today that it served as the exclusive financial advisor to trustaff Management, Inc. and CardioSolution on their recapitalization by Cornell Capital and Trilantic North America, two New York-based private equity firms.
  • Owl Rock Business Development Companies' Shareholders Approve Proposals Related to Blue Owl Transaction
    March 18, 2021
    Owl Rock Capital ("Owl Rock"), a leading alternative asset manager, announced today that it has received approval from the shareholders of each of its four requisite business development companies ("BDCs") for new investment advisory agreements related to the recently announced combination of Owl Rock and Dyal Capital Partners to form Blue Owl Capital.
  • Canopy Growth Announces US$750 Million Term Loan Financing
    March 18, 2021
    Canopy Growth Corporation ("Canopy Growth" or "Canopy" or the "Company") (TSX: WEED) (NASDAQ: CGC) is pleased to announce that it has entered into a credit agreement (the "Credit Agreement") with Funds advised by King Street Capital Management, L.P. ("King Street"). Under the Credit Agreement, the Company has raised a US$750 million senior secured term loan (the "Term Loan Facility"). The Company also has the ability to obtain up to an additional US$500 million of incremental senior secured debt pursuant to the Credit Agreement.
  • SmartStop Self Storage REIT, Inc. Announces a New $500 Million Multi-Currency Credit Facility
    March 18, 2021
    SmartStop Self Storage REIT, Inc. ("SmartStop") announced today that it entered into a multi-currency credit facility (the "Credit Facility") of up to $500 million with a syndicate of banks led by KeyBank National Association, Wells Fargo, N.A., Citibank, N.A. and Bank of Montreal. The facility consists of a $250 million revolving credit facility (the "Revolver") and a $250 million term loan (the "Term Loan"), and has an accordion feature permitting expansion of the Credit Facility up to $850 million, subject to certain conditions.
  • Reetika Grewal Named Head of Digital for Wells Fargo Commercial Banking and Corporate & Investment Banking
    March 18, 2021
    Wells Fargo & Company (NYSE: WFC) today announced that Reetika Grewal has been named head of Digital for Commercial Banking and Corporate & Investment Banking. She will join the company in late April and report to Ather Williams III, head of Strategy, Digital, and Innovation. She will be based in San Francisco. In this new position, Grewal will be responsible for accelerating development and implementation of commercial and corporate banking digital offerings and market-competitive capabilities. She will lead the company’s strategy to improve digital experiences for commercial and corporate clients, simplifying the way businesses interact with Wells Fargo.
  • Phoenix Lending Survey Results Reveals the Third Stimulus Package Will Cause Inflationary Pressure in the U.S. Economy
    March 18, 2021
    From the first quarter Phoenix Management “Lending Climate in America” survey results reveals the third stimulus package will cause inflationary pressure in the U.S. economy. The third stimulus package includes nearly $2 trillion in coronavirus relief funds and puts money in the hands of millions of Americans. When asked whether the United States should prepare for inflationary pressures going forward, 77% of lenders agree that these historic economic stimulus packages will cause inflationary pressure in the U.S. economy. Twenty-three percent of lenders disagree and believe the economy will be able to sustain the infusion of money and inflation will be subdued.
  • Alvarez & Marsal Launches Environmental, Social and Governance Services Practice
    March 18, 2021
    Leading global professional services firm Alvarez & Marsal (A&M), has launched its Environmental, Social and Governance (ESG) Services practice, led by Managing Director, Julie Hertzberg expanding her existing leadership role within the firm. The ESG Services practice will be integrated with A&M’s financial, operational and industry expertise, in a unique approach to meet the ESG needs of private equity (PE) firms, their portfolio companies, corporate clients, and organizations across multiple industry sectors and geographies.
  • Second Avenue Capital Partners, LLC Closes on a Senior Secured Credit Facility to Cos Bar
    March 17, 2021
    Second Avenue Capital Partners, LLC ("SACP") (www.secondavecp.com) announced it has closed on a senior secured credit facility to Cos Bar, a leading luxury specialty cosmetics retailer. The credit facility will be used to support new growth opportunities and provide additional working capital.
  • Tiger Group Online Auction on March 30 Features Advanced Knitting, Dyeing and Finishing Equipment from Montréal-based Tricots-Liesse
    March 17, 2021
    Tiger Group will begin accepting bids on March 23 for the March 30 online auction of assets from one of the best-known knitting, dyeing and finishing operations in the North American textile industry—the 250,000-square-foot Tricots-Liesse plant at 2125 Lily-Simon. The auction represents a rare opportunity to acquire state-of-the-art circular-knitting machines and dyeing and finishing equipment—including German- and Italian-made pieces like a solvent-scour machine by Sperotto and a relaxation dryer by Monforts, said John Coelho, Senior Director for Tiger’s Commercial & Industrial division.
  • RSA Announces Strategic Investment From Clearlake Capital
    March 17, 2021
    JPMorgan Chase Bank, N.A., Morgan Stanley Senior Funding Inc., Goldman Sachs & Co. LLC, UBS Investment Bank, Bank of America, Barclays, and Jefferies are arranging the debt financing for the transaction. UBS Investment Bank, J.P. Morgan Securities LLC, BofA Securities, Barclays, and Jefferies served as buyside advisors in the transaction. Sidley Austin LLP served as legal counsel to Clearlake with Davis Polk & Wardwell LLP representing STG and RSA.
  • American Zinc Recycling Announces New $120 Million Term Loan Facility
    March 17, 2021
    American Zinc Recycling Corp. (“AZR”) today announced that it has secured a new senior secured term loan credit facility provided by Blue Torch Finance LLC (“Blue Torch”). The Blue Torch loan is secured by a first lien on all the assets of AZR and its subsidiaries and matures in 2024. The Company was advised on the transaction by Ducera Securities LLC and by Akin Gump Strauss Hauer & Feld LLP. Blue Torch was advised on the transaction by Dechert LLP.
  • Azorra Aviation Announces Investment by Oaktree
    March 17, 2021
    Azorra Aviation Holdings LLC (“Azorra”) today announced that it has entered into an agreement with funds managed by Oaktree Capital Management, L.P. (“Oaktree”), under which Oaktree and Azorra’s founders will invest $350 million to expand Azorra’s commercial aircraft leasing business.
  • CIT Wins 2021 FinTech Breakthrough Award for Business Lending Point-of-Sale Platform
    March 17, 2021
    CIT Group Inc. (NYSE: CIT) today announced that its Small Business Solutions group has been selected as winner of the "Business Lending Innovation Award" for its point-of-sale lending platform in the fifth annual FinTech Breakthrough Awards program. The recognition was awarded by FinTech Breakthrough, an independent market intelligence organization that recognizes the top companies, technologies and products in the global FinTech market.
  • NextGen Healthcare Announces Update to Credit Facility
    March 17, 2021
    NextGen Healthcare, Inc. (Nasdaq: NXGN), a leading provider of ambulatory-focused technology solutions, today announced that on March 12, 2021, it entered into a $300 million second amended and restated revolving credit agreement with JPMorgan Chase Bank, N.A., as administrative agent, U.S. Bank National Association and Bank of the West, as co-syndication agents, and certain other agents and lenders.
  • MUFG Boosts Private Equity Sponsor Coverage and Direct Lending Capabilities with Hire of Three Senior Bankers
    March 17, 2021
    The bank has hired Michael Klein and Keith Murray as Managing Directors of Sponsor Coverage, reporting to Matt Maley, Head of Private Equity Sponsor Coverage within MUFG's Corporate Advisory Group. Messrs. Klein and Murray will be responsible for delivering the bank's full array of capabilities to sponsor clients including financing and capital markets solutions, advisory services and transaction banking. John Timoney has been hired by the Capital Markets Group as a Managing Director to focus on originating, structuring and syndicating direct lending transactions of both private-equity
  • New Research Shows High Market Optimism for Receivables Finance
    March 17, 2021
    EQ (Equiniti Group plc) is delighted to announce that its risk management business, EQ Riskfactor, today launches a series of new reports called the Receivables Finance Global Outlook. EQ Riskfactor’s established risk management technology uses automation to identify potential frauds using advanced analytics which highlight unusual activity, so that lenders can investigate and reduce risk. The technology also helps lenders to eliminate manual processes saving time and money.
  • FocalPoint Advises ImageOne on its Refinancing by MidCap Financial & Catalur Capital Management
    March 17, 2021
    ImageOne Interco, LLC (“ImageOne” or the “Company”), a portfolio company of Innovating Capital Management LLC (“Innovating Capital”), has announced the successful refinancing of its existing senior debt facility through a revolving line of credit from a syndicate of lenders led by MidCap Financial Trust (“MidCap Financial”) and a term loan facility from Catalur Capital Management, LP (“Catalur Capital Management”). FocalPoint Securities, LLC ("FocalPoint") served as exclusive financial advisor to the Company.
  • Sterling National Bank Provides $5,000,000 Senior Secured Credit Facilities
    March 17, 2021
    Sterling National Bank's Commercial Services Group provided senior secured credit facilities totaling $5,000,000 to Nextaff Group LLC. (“Nextaff” or the “Company”). Headquartered in Overland Park, KS, Nextaff is a nationwide staffing agency, with each office locally owned and operated for a more in-depth, streamlined hiring process. Founded in 1998, the Company offers custom solutions in a variety of industries.
  • Citizens Advises Tube Processing Corporation in its Sale of its Commercial Tube Processing Division to Nelson Global Products
    March 17, 2021
    Citizens M&A Advisory announced today that it served as the exclusive M&A advisor to Tube Processing Corporation in its sale of its Commercial Tube Processing Division (CTP) to Nelson Global Products, a portfolio company of Wind Point Partners. Established in 1974, CTP is a manufacturer of complex, high-performance tube assemblies, metal fabrications and precision weldments for OEMs in a diverse set of end markets including on-highway, off-highway, construction and military durable equipment.
  • SLR Equipment Finance Announces That Jeffrey Bauer has Joined
    March 17, 2021
    SLR Equipment Finance, formerly known as Nations Equipment Finance, expands its business development capabilities and announces that Jeffrey Bauer has joined the company. SLR Equipment Finance is pleased to announce it has hired Jeffrey Bauer as Senior Vice President of Business Development. In his role, Jeff will be responsible for growing SLR Equipment Finance’s leasing and lending activities in the MidAtlantic region of the U.S.
  • Yum! Brands, Inc. Completes Refinancing of Senior Secured Credit Facilities
    March 16, 2021
    Yum! Brands, Inc. (NYSE: YUM) (the “Company”) today announced that certain subsidiaries that operate the Company’s KFC, Pizza Hut and Taco Bell businesses have completed the refinancing of the existing approximately $1.9 billion term loan B facility, approximately $431 million term loan A facility and approximately $1.0 billion revolving facility (the “Existing Facilities”) through the issuance of a $1.5 billion term loan B maturing March 15, 2028 (the “Term B Loan”), a $750 million term loan A maturing March 15, 2026 (the “Term A Loan”) and a $1.25 billion revolving credit facility maturing March 15, 2026
  • Minim Secures $13.0 Million Credit Facility with Silicon Valley Bank
    March 16, 2021
    Zoom Telephonics, Inc., doing business as Minim (OTCQB: MINM) ("Minim"), the creator of innovative internet access products, today announced that it has closed on a $13.0 million credit facility in partnership with Silicon Valley Bank in lieu of its previous $5.0 million credit facility. This announcement follows a record-breaking quarter and year in Minim’s revenue.
  • Tronox Completes Senior Notes Offering and Announces Closing of New Credit Facilities
    March 16, 2021
    Tronox Holdings plc (NYSE: TROX; the "Company") today announced that it completed its offering by its wholly owned subsidiary, Tronox Incorporated (the "Issuer"), of 4.625 percent Senior Notes due 2029 for an aggregate principal amount of $1,075 million, the net proceeds of which, along with cash on hand, will be used to fund the redemption in full of the Issuer's outstanding $615 million aggregate principal amount of 6.500 percent senior notes due 2026 and the redemption in full of Tronox Finance plc's outstanding $450 million aggregate principal amount of 5.750 percent senior notes due 2025.
  • Oxford Finance Provides $57.2 Million Credit Facility to Pointe Group Care
    March 16, 2021
    Oxford Finance LLC (“Oxford”), a specialty finance firm that provides senior debt to healthcare services and life sciences companies worldwide, today announced the closing of a $57.2 million senior credit facility and revolving line of credit to Pointe Group Care LLC ("PGC"), an owner and operator within the skilled nursing and assisted living industry.
  • PlainsCapital Bank Welcomes New Denton Banking Group
    March 16, 2021
    PlainsCapital Bank recently welcomed a new lending team to serve the Denton area. Ernie McGee serves as president, James E. Posey and Alex Eysermans serve as senior vice presidents and commercial loan officers, while Kevin Hodge serves as commercial loan officer, and Jeanette Hoffman serves as senior lending assistant.
  • Wells Fargo Survey: Construction Industry Hopeful About 2021, Despite Optimism Dip
    March 16, 2021
    Wells Fargo today released the results of its 45th annual Construction Industry Forecast, revealing an initial decline in sector sentiment on the tail end of a complicated year, and a renewed optimism for the second half. In November2020, the bank queried hundreds of industry executives to determine the 2021 U.S. National Optimism Quotient (OQ). Survey results show that leaders ended 2020 feeling cautiously optimistic with a 2021 OQ score of 78, representing a 21-point drop from 2020.
  • mBank Business Credit Funds $2,500,000 Line of Credit for an Illinois-based Manufacturer
    March 16, 2021
    An Illinois manufacturer of drainage piping and plastic tubing was looking for a new lender. mBank Senior Management personally visited the client and reviewed their plans and met with all management and their consulting firm. mBank then presented the company with a customized financial package that met their needs. The loan closed in February 2021.
  • Harbor is Among the First Trade Finance Providers to Cut Cryptocurrencies to Work
    March 16, 2021
    Harbor reached another milestone this week by funding more than $1 million in trade finance transactions utilizing Decentralized Finance or “DeFi.” The fund was launched in the last quarter of 2020 in collaboration with Centrifuge with the goal of bringing a real-world asset like accounts receivable to DeFi, a financial system independent of centralized banking and currencies.
  • Stonebriar Celebrates its Sixth Year Anniversary
    March 16, 2021
    Stonebriar Commercial Finance (“Stonebriar”) is celebrating its sixth anniversary this week, having closed another record year with new funded volume of $1.43 billion in structured leases and loans, and driving a 36% year-over-year increase in operating income. Equally as important, Stonebriar has completed its sixth consecutive year with zero credit losses.
  • WEX Inc. Announces Plans for Potential Debt Refinancing
    March 15, 2021
    WEX Inc. (NYSE: WEX), a leading provider of corporate payment solutions (the “Company”), today announced that it is providing certain prospective lenders information for purposes of considering a potential refinancing of its credit facility, including among other things extending the maturity date of the tranche A term loans and revolving credit facility to 2026 and the tranche B term loans to 2028.
  • Duane Morris Grows New York Office With Addition of Partners David M. Hryck, Christopher W. Healy, C. Neil Gray and Economist Theodor van Stephoudt
    March 15, 2021
    David M. Hryck, Christopher W. Healy and C. Neil Gray have joined Duane Morris LLP’s New York office as partners in the firm’s Corporate and Trial practice groups. Economist Theodor van Stephoudt will join Duane Morris as well. The attorneys and van Stephoudt join the firm from Reed Smith LLP.
  • J D Factors Announces Factoring Facilities
    March 15, 2021
    J D Factors announced it provided the following factoring facilities: $120,000 to a transportation company in Illinois; $400,000 to a transportation company in Iowa; $75,000 to a transportation company in Virginia; $250,000 to a transportation company in Illinois.
  • Retail and Other Bankruptcies Could Rise in Second Half of 2021, Says A&G Executive at TMA Conference on Distressed Investing
    March 15, 2021
    Struggling retailers, office tenants, restaurants and other businesses could be ‘pushed over the edge in 2021,’ but A&G’s Doug Greenspan predicts eventual rebound in resorts and dining/entertainment, as well as continued cooperation between retailers and landlords.
  • Hunter Point Capital Adds Brad Coleman to Lead GP Coverage Group
    March 15, 2021
    Hunter Point Capital (“HPC”) an independent investment firm focused on taking minority stakes in middle-market alternative asset managers, announced today that Brad Coleman will be joining as a partner to lead the firm’s GP Coverage Group. At HPC, Mr. Coleman will continue the thought leadership and strategic advice for alternative investment managers for which he has become well-known.
  • BHI Commercial and Industrial Group Provides $6 Million Financing for PISEC Group America
    March 15, 2021
    BHI, a full-service commercial bank, announced that its Commercial & Industrial Group has closed a $6 million credit facility for Pisec Group America LLC. The financing provides a one-year line of credit that the company will employ for working capital and corporate purposes.
  • Winston & Strawn Expands Its Global Leveraged Finance Team with Addition of Andrew Hutchinson in Chicago
    March 15, 2021
    Winston & Strawn LLP is pleased to announce the addition of Andy Hutchinson as a partner in the firm’s Chicago office, and as a member of its Global Leveraged Finance Team. Andy is a respected leveraged finance attorney with broad experience representing direct lenders, banks, investment banks, and private equity sponsors, with a particular focus on the middle market and on key sectors such as software, health care, and hospitality.
  • Fourshore Partners Announces Acquisition of Genesis Capital Finance
    March 15, 2021
    Fourshore Partners (“Fourshore”) announced today its acquisition of a majority stake in Genesis Capital Finance (“Genesis,” “GCF”), a specialty finance company that provides commercial loans to independent owner operators in the long-haul trucking industry.
  • GoldenTree Loan Management II, Affiliated Investment Managers Close $698M CLO
    March 15, 2021
    GoldenTree Loan Management II and affiliated investment manager GoldenTree Asset Management completed a $698 million collateralized loan obligation, to be managed by the former. With the closing of the GoldenTree Loan Management US CLO 9, the companies and other affiliated investment managers have issued 14 CLOs, amounting to over $8 billion under their GLM CLO strategy.
  • Laura Ashley Launches New Collection with NEXT
    March 15, 2021
    Gordon Brothers, the global advisory, restructuring and investment firm and owner of the British heritage brand Laura Ashley®, announced the iconic home and lifestyle brand launched its spring 2021 collection online and in select NEXT plc stores. The collection features the classic and recognizable Laura Ashley homeware, alongside an array of new designs.
  • Alvarez & Marsal Bolsters Supply Chain Services
    March 15, 2021
    Leading global professional services firm Alvarez & Marsal (A&M) has appointed Paul Fanella a Managing Director in Supply Chain Services within its Corporate Performance Improvement practice. Mr. Fanella’s end-to-end supply chain management expertise boosts A&M’s ability to deliver meaningful cost-reduction and productivity-enhancements and builds upon the firm’s commitment to drive savings and efficiency results for clients.
  • Stonebriar Commercial Finance Closes a $70 Million Lease
    March 15, 2021
    Stonebriar Commercial Finance announced the closing of a $70 million sale and leaseback with an independent producer of specialty hydrocarbon and fuels products. Consistent with the company’s strategic deleveraging efforts, the lease proceeds supported the retirement of other lessee indebtedness. The transaction closed in less than 50 days.
  • Cambridge Savings Bank Announces Successful Transition of Melrose Bank Acquisition; Go-Forward Plan Prioritizes Community Engagement, Charitable Giving and Relationship-Centric Service
    March 15, 2021
    Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and more than $5 billion in assets, today announced it has successfully transitioned Melrose Bank customers and added CSB’s 17th physical location. Following the acquisition of Melrose Bank into Cambridge Savings Bank on June 1, 2020, CSB has made it a priority to connect with the Melrose community, focusing on its relationship-centric and service-oriented approach to helping individuals, families and small businesses.
  • Playtika Announces Closing of Debt Refinancing Resulting in Over $80 Million Annual Cash Interest Savings
    March 15, 2021
    Playtika Holding Corp. (NASDAQ:PLTK) (“Playtika”) today announced it has entered into a 7-year $1.9 billion Term Loan B, increased its Revolving Credit Facility to $600 million with a new 5-year maturity and consummated its previously announced offering of $600 million aggregate principal amount of its 8-year senior unsecured notes.
  • Bank of America Names Heather Albright President of Arkansas
    March 15, 2021
    Albright succeeds Donnie Cook who has led the market for the past 16 years and recently announced his retirement earlier this month. As president, Albright will be responsible for connecting the banking and investment resources offered through our eight lines of business to companies, families and individuals across Arkansas.
  • Leading M&A Partner Jason Quintana Joins Mayer Brown in Chicago
    March 15, 2021
    Mayer Brown announced today that Jason Quintana has joined the firm as a partner in its Mergers & Acquisitions practice in Chicago. Mr. Quintana joins from Perkins Coie LLP. Mr. Quintana advises public and private strategic operating companies and private equity sponsors and their portfolio companies on structuring, documenting, negotiating and consummating complex business transactions.
  • Daseke Announces Term Loan Refinancing and Credit Rating Upgrades
    March 15, 2021
    Daseke, Inc. (NASDAQ: DSKE) (“Daseke” or the “Company”), the largest flatbed, specialized transportation and logistics solutions company in North America, announced today that it has refinanced its existing $484 million Term Loan B due February 2024 with a new $400 million Term Loan B and available cash. JPMorgan Chase Bank, N.A. served as exclusive arranger and sole bookrunner for Daseke in executing this transaction.
  • Garrett Motion Receives Approval for Chapter 11 Disclosure Statement
    March 11, 2021
    Garrett Motion Inc. (“Garrett”) today announced that the U.S. bankruptcy court has approved the disclosure statement in respect of Garrett’s proposed plan of reorganization, which is sponsored by a consortium of investors led by funds managed by Centerbridge Partners, L.P. (“Centerbridge”) and Oaktree Capital Management, L.P. (“Oaktree”) (the “Plan Sponsors”).
  • CURO Completes Acquisition of Flexiti
    March 11, 2021
    In connection with the transaction, Flexiti and a related entity refinanced and expanded its nonrecourse asset-backed warehouse financing facility from $300 million to $395 million funded by Credit Suisse AG and SPF Securitized Products Master Fund Ltd.
  • CIBC Innovation Banking Announces Growth Capital Financing for Practice Ignition
    March 11, 2021
    CIBC Innovation Banking is pleased to announce a multi-million dollar growth capital facility for Practice Ignition Pty Ltd. (“Practice Ignition”), a leading accounting and client engagement platform. Practice Ignition plans to use the financing to deepen its investment in its proprietary product and technology, and further accelerate its global growth momentum.
  • Axiom Bank, N.A. Hires Jordan Wilson as Vice President, Commercial and Industrial Loan Relationship Manager
    March 11, 2021
    Axiom Bank, N.A., a Maitland-based, leading community bank, recently named Jordan Wilson as Vice President, Commercial and Industrial (C&I) Loan Relationship Manager. In this role, Wilson will be responsible for generating new leads, loans and deposits by developing relationships with small and midsize businesses across the state.
  • SLR Credit Solutions Promotes Smith, Vartanov, Dunn
    March 11, 2021
    SLR Credit Solutions announced that Kenny Smith was promoted to Senior Managing Director; George Vartanov – Vice President and Matthew Dunn to Assistant Vice President.
  • Haversine Funding Announces Closed Transactions
    March 11, 2021
    Haversine Funding announced the following recently closed transactions: a $500,000 lender finance facility to help launch a new factoring company; $5,000,000 of an $15,000,000 inventory loan participation to finance an e-commerce sales distributor and a $1,000,000 subordinated debt facility to support the growth of a factoring company focused on accounts receivable factoring transactions to companies focused in the staffing, janitorial and construction industries.
  • Associated Banc-Corp Appoints Andrew J. Harmening President and Chief Executive Officer
    March 11, 2021
    Associated Banc-Corp (NYSE: ASB) ("Associated") today announced that its Board of Directors has appointed Andrew J. Harmening as the Company's president and chief executive officer and a member of its Board of Directors, effective April 28, 2021. Mr. Harmening will also serve as president and chief executive officer of Associated Bank, N.A. and president of Associated Trust, N.A. Mr. Harmening was most recently senior executive vice president, consumer and business banking of Huntington Bank.
  • Monroe Capital Supports Aurora Capital Partners’ Investment in Premier Roofing
    March 11, 2021
    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 investment in Premier Roofing (“Premier”) by private equity sponsor Aurora Capital Partners. Headquartered in Denver, Colorado, Premier is one of the largest roofing service providers and vendor managed networks in the U.S.
  • NXT Capital Announces the Closing of its Latest ~$1Billion Middle and Lower Middle-Market Direct Lending Fund
    March 11, 2021
    NXT Capital, LLC announced today the final closing on NXT Capital Senior Loan Fund VI (L), LP (SLF VI Levered or the Fund). SLF VI Levered will have approximately $1 billion in fund capacity from equity commitments combined with expected leverage. The addition of the Fund increases NXT Capital’s asset management platform to approximately $11 billion in capital under management/direction as of February 28, 2021.
  • WSFS Financial Corporation to Combine with Bryn Mawr Bank Corporation, Solidifies Position as the Premier Bank and Wealth Management Franchise in the Greater Philadelphia and Delaware Region
    March 11, 2021
    WSFS Financial Corporation (NASDAQ: WSFS) and Bryn Mawr Bank Corporation (NASDAQ: BMTC), jointly announced today the signing of a definitive merger agreement whereby Bryn Mawr Bank Corporation (“Bryn Mawr”) will merge with WSFS Financial Corporation (“WSFS”), in a transaction valued at approximately $976.4 million. Simultaneously with the merger, The Bryn Mawr Trust Company (“BMT”), the wholly owned subsidiary of Bryn Mawr, will merge into WSFS Bank, a wholly owned subsidiary of WSFS. The combination of two of the high performing, locally-based financial services companies in the Greater Philadelphia and Delaware region solidifies WSFS’ position as the preeminent, locally-headquartered bank for this region.
  • 36th Street Capital Completes $138 Million Inaugural Loan Securitization Transaction
    March 10, 2021
    36th Street Capital Partners, LLC (“36th Street”) is pleased to announce the successful securitization of equipment loans and leases through a private loan transaction (“Transaction”) with pension and insurance companies as lenders. The Transaction involves the securitization of $138 million of “business essential” commercial equipment loans and leases, and includes two classes of loans with investment grade and non‐investment grade ratings assigned by DBRS Morningstar. Amherst Pierpont Securities LLC (“APS”) served as exclusive Arranger of the Transaction.
  • UMB Bank Welcomes Jeff Dunbar to Capital Finance Business Development Team
    March 10, 2021
    UMB Bank is pleased to announce Jeff Dunbar has joined its Capital Finance Business Development team as Senior Vice President, Business Development Officer under their Accounts Receivable Finance business channel. Operating out of St. Louis, Dunbar will be further enhancing the business’ marketing efforts throughout the Midwest territory.
  • Tradewind Finance Welcomes Greg Champion as Vice President of Sales based in Chattanooga, TN
    March 10, 2021
    Tradewind Finance is pleased to announce the hiring of Greg Champion as Vice President of Sales based in Chattanooga, Tennessee. In his role of VP Sales, Champion will be focused on driving growth for the company and increasing its client base. Champion joins Tradewind from Atradius Trade Credit Insurance, where, as Regional Manager, he developed new client relationships and assisted existing customers with their credit risk scenarios.
  • InterNex Capital Announces Working Capital Funding Program for Minority and Women Owned Businesses
    March 10, 2021
    InterNex Capital is pleased to formally share with the market their new program focused on providing working capital to small and medium Minority & Women-Owned Business Enterprises (M/WBEs). Diversity is hugely important to the culture at InterNex. Diversity and inclusion are shared priorities and values among their founders, employees, investors, and partners.
  • BHI Arranges $26 Million Construction Financing
    March 10, 2021
    BHI, a full-service commercial bank, announced that it has arranged $26.5 million in construction financing for the redevelopment of 629 E. Main Street in Richmond, Virginia, a 12-story office building that will be converted to mixed use multi-family. The borrower is Douglas Development Corporation (DDC), which will convert the property to 188 rental units comprising studios and one and two-bedroom apartments, and 132,806 square feet of commercial space.
  • CIBC Innovation Banking Provides JMI Equity with a Capital Call Line of Credit
    March 10, 2021
    CIBC Innovation Banking is pleased to announce that it has co-led a capital call facility to JMI Equity’s latest fund, JMI Equity Fund X. The capital call facility provides JMI Equity (“JMI”) with the flexibility to make investments in portfolio companies and call capital less frequently from the Fund’s limited partners.
  • Cerberus Business Finance Raises $4.4 Billion of Additional Capital for U.S. Direct Lending Strategy
    March 10, 2021
    Cerberus Capital Management, L.P. (“Cerberus”) announced today that its middle-market direct lending platform, Cerberus Business Finance, completed the final close of its latest flagship fund, Cerberus Levered Loan Opportunities Fund IV (“Fund IV”). Fund IV closed with $2.4 billion of equity commitments and, in total, Cerberus Business Finance raised more than $4.4 billion of equity commitments for its strategy across Fund IV and separately managed accounts.
  • VEON Successfully Enters Into a $1.25 Billion Multi-currency Revolving Credit Facility Agreement
    March 10, 2021
    VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a leading global provider of connectivity and internet services, announces that it has successfully entered into a new multi-currency revolving credit facility agreement (the "RCF") of USD 1.25 billion for VEON Holdings B.V. ("VEON Holdings"). The RCF will replace the existing revolving credit facility signed in 2017.
  • Harsco Completes Refinancing of Term Loans and Extension of Revolving Credit Facility
    March 10, 2021
    Harsco Corporation (NYSE:HSC) (the “Company”) announced today that it amended its existing senior secured credit agreement by completing a new term loan B facility (the “New Term Loan”) of $500.0 million and extending the maturity of the existing $700.0 million revolving credit facility thereunder (the “Revolving Credit Facility”).
  • CTO Realty Growth Announces 5-Year, $50 Million Term Loan
    March 10, 2021
    CTO Realty Growth, Inc. (NYSE: CTO) (the “Company” or “CTO”) today announced that it has successfully amended its unsecured credit agreement to originate a new $50 million unsecured term loan (the “Term Loan”) and increase the total committed capacity of its unsecured revolving credit facility (the “Revolving Facility”) from $200 million to $210 million (together, the “Credit Facility”).
  • Humanigen Announces $80 Million Loan Facility from Hercules Capital
    March 10, 2021
    Humanigen, Inc. (Nasdaq: HGEN) (“Humanigen”), a clinical stage biopharmaceutical company focused on preventing and treating an immune hyper-response called ‘cytokine storm’ with its lead drug candidate, lenzilumab™, has obtained a term loan facility from Hercules Capital (NYSE: HTGC), a leader in customizing debt financing for companies in the life sciences market. Under the terms of the facility, Hercules will provide Humanigen up to $80 million of secured debt financing.
  • Black Knight Announces Amended and Restated Credit Facilities
    March 10, 2021
    Black Knight, Inc. (NYSE:BKI) ("Black Knight" or "BKI"), a leading provider of software, data and analytics solutions to the mortgage and consumer loan, real estate and capital market verticals, today announced that its indirect subsidiary, Black Knight InfoServ, LLC, a Delaware limited liability company (the "Borrower") entered into a second amended and restated senior secured credit facility (the "Facilities"), comprised of a $1.15 billion five-year senior secured term loan A facility and a $1 billion five-year senior secured revolving credit facility (the "Revolver").
  • Schulte Roth & Zabel Announces Promotions
    March 10, 2021
    Schulte Roth & Zabel (SRZ) is pleased to announce the election of David Arnstein, David Griffel, Anthony Taylor and Heather Wyckoff as partners. The firm also announces the promotion of William Barbera, Neil Begley, Adam Gartner, Andrew Gladstein, Robert Griffin, Jill Guzzetti, Annie Mehlman and Brian Smith to special counsel. All are resident in the firm’s New York office.
  • Stratos Technologies LLC Secures Participation From WebBank in an Asset-Based Revolving Credit Facility
    March 10, 2021
    Stratos Technologies LLC (“Stratos”), a venture capital firm with expertise in financing, operating, and advising technology businesses, today announced it has secured leverage through a first-out participation structure with WebBank in an asset-based revolving credit facility to one of its financial technology (FinTech) portfolio clients.
  • Goba Capital Inc. Closes its Inaugural Credit Facility Arranged by FCL Capital Partners
    March 10, 2021
    Goba Capital Inc. recently closed its inaugural Senior Credit Facility to support the significant growth of its portfolio and provide flexibility to execute on its strategic plan. FCL Capital Partners arranged the financing and acted as Goba's exclusive financial advisor. Goba Capital Inc. recently closed its inaugural Senior Credit Facility to support the significant growth of its portfolio and provide flexibility to execute on its strategic plan. FCL Capital Partners arranged the financing and acted as Goba's exclusive financial advisor.
  • The Very Good Food Company Announces Signing of Committed C$70 Million Credit Facility Non-Binding Term Sheet with Prominent Institutional Investment Firm
    March 9, 2021
    The Very Good Food Company Inc. (CSE: VERY) (OTCQB: VRYYF) (FSE: 0SI) ("VERY" or the "Company") is pleased to announce that it has executed a non-binding term sheet (the "Term Sheet") with a prominent institutional lender for a committed C$70 million senior secured Credit Facility (the "Credit Facility").
  • MHH Robert Cohen To Present At NEFA Virtual Finance Summit
    March 9, 2021
    Moritt Hock & Hamroff (MH&H) announced today that Robert S. Cohen will be presenting at the 2021 Virtual Finance Summit hosted by the National Equipment Finance Association (NEFA) on March 16 and 17, 2021. Cohen will be a featured panelist for a one-hour session in NEFA’s Education and Technology track entitled “Documentation in the Post-COVID World (E-notary/eDocs/Vaulting/Signer Verification).”
  • SG Credit Partners Provides $3.2MM Unitranche Loan - Collateral Based Term Loan A + Cash Flow Based Term Loan B
    March 9, 2021
    SG Credit Partners provided a unitranche loan to a Midwest-based specialty retailer of mattresses and accessories. The Company sells through 50+ stores as well as its Company-owned DTC eCommerce channel. SG provided a comprehensive solution by funding two tranches of term loans.
  • Tradecycle Capital Delivers Three New Accounts Payable Finance Facilities in February
    March 9, 2021
    Tradecycle Capital, an Indianapolis-based trade finance provider, announced it funded three new revolving accounts payable funding facilities in February. The first, a $5,000,000 limit to a designer, importer, and distributor of patio and home furnishings that sells throughout the US and Canada. The second was a $1,000,000 limit to a technology solutions provider that works primarily with public sector clients to implement ongoing technological advancements. The third was a $500,000 limit to a specialty chemical distribution company that supplies water treatment chemicals to municipalities and commercial customers.
  • Thomas Downey Joins SLR Equipment Finance
    March 9, 2021
    SLR Equipment Finance, formerly known as Nations Equipment Finance, expands its business development capabilities and announces that Thomas Downey has joined the company SLR Equipment Finance is pleased to announce it has hired Thomas Downey as Senior Vice President of Business Development. In his role, Tom will be responsible for growing SLR Equipment Finance’s leasing and lending activities in the Southwest region of the U.S. Tom brings over 30 years of creative structuring experience in the equipment finance industry to SLR Equipment Finance.
  • LBC Credit Partners Supports the Acquisition of Northern Wholesale Supply, LLC
    March 9, 2021
    LBC Credit Partners (“LBC”), one of the leading providers of financing solutions to middle market companies, provided a senior secured credit facility to support the acquisition of Northern Wholesale Supply, Inc. (“NWS” or the “Company”) by Wynnchurch Capital, LLC (“Wynnchurch”). LBC served as Agent and Sole Lender for the senior secured credit facility.
  • Tradewind Finance Welcomes Daniel Najman as Vice President of Sales based in Miami, FL
    March 9, 2021
    Tradewind Finance is pleased to announce that Daniel Najman has joined the company as Vice President of Sales based in Miami, Florida. Najman brings years of experience in trade credit insurance and trade logistics to the role, as well as an extensive track record of dealings with Brazil and other international markets. As VP Sales, Najman will help expand the company’s client base, leveraging his industry and native ties to Latin America.
  • Finance Lawyer John O. Sutton Jr. Joins Haynes and Boone
    March 9, 2021
    John O. Sutton Jr. has joined Haynes and Boone, LLP as a partner in the firm’s Finance Practice Group. He will work out of both the Fort Worth and Dallas offices. John has substantial experience representing banks, commercial financiers, and investment funds in asset-based lending (ABL) and structured finance transactions involving real estate, aircraft, hospitality, shipping and other industries. He has spent the bulk of his career at Hughes & Luce LLP and later K&L Gates LLP, following the merger of the firms.
  • Alvarez & Marsal Strengthens Healthcare Transformation Services
    March 9, 2021
    Leading global professional services firm Alvarez & Marsal (A&M) has appointed John McLean, III as a Managing Director, based in Atlanta, in the firm’s Healthcare Industry Group. Mr. McLean’s two decades of experience transforming health systems advances A&M’s expanding capability to address the evolving needs of its healthcare provider clients.
  • Old Hill Partners Closes an $8 Million Senior Secured Pre-Export Trade Finance Facility in Latin America
    March 9, 2021
    Old Hill recently provided an $8 million senior secured pre-export credit facility to a company in Latin America with whom it had a previous lending relationship. The company exports specialty agricultural products to top-tier global distributors. Old Hill’s financing allowed this exporter to lever its inventories during the harvesting and processing cycle resulting in working capital for its business. This is the second such facility Old Hill has provided to this exporter and reflects Old Hill’s interest and expertise in trade finance.
  • H.I.G. Capital Expands European WhiteHorse Team with the Addition of Laurent Vaille and Charles Bourgeois
    March 9, 2021
    H.I.G. Capital, LLC ("H.I.G."), a leading global alternative investment firm with over €35 billion of equity capital under management, is pleased to announce the expansion of its European WhiteHorse team with the addition of Laurent Vaille and Charles Bourgeois as Principals. Laurent will be based in H.I.G.’s London office, and Charles is based in H.I.G.’s Paris office.
  • Monroe Capital Selected for Three 2020 Awards from Private Debt Investor
    March 9, 2021
    Monroe Capital LLC (“Monroe”) was selected as the recipient of three Private Debt Investor (“PDI”) awards, including the 2020 Lower Mid-Market Lender of the Year; Lender of the Year; and CLO Manager of the Year awards, in the Americas. PDI is a global independent publication based in London covering the private debt and private equity industries.
  • Cornerstone Business Credit Funds $200,000 Line of Credit to a Telecommunications Infrastructure Services Firm
    March 9, 2021
    Cornerstone Business Credit is pleased to announce that it recently funded a $200,000 line of credit to a telecommunications infrastructure services firm. After a series of COVID 19 suspensions of work and infrastructure upgrades, the industry is ramping back up with opportunities. Our client needed a working capital line of credit to access funds for vendors while awaiting payments from large national telecommunications companies.
  • Hilco Streambank Announces Successful Acquisition of Venture Capital Backed Varentec, Inc. Assets by Koch Engineered Solutions Subsidiary Sentient Energy
    March 8, 2021
    Hilco Streambank (www.hilcostreambank.com) had the privilege of collaborating with Varentec, Inc. (www.varentec.com), a revolutionary edge-of-network, volt/VAR grid optimization technology company, and secured lender Windsail Capital Group (www.windsailcapital.com) to complete a successful asset acquisition after an unsuccessful investment bank process run earlier in the year.
  • Tailored Brands Announces $75 Million in New Financing to Continue to Advance Strategic Plans
    March 8, 2021
    Tailored Brands, Inc. (the “Company”) today announced the closing of a $75 million investment by a group of existing shareholders and lenders. The financing consists of $50 million of mandatorily convertible notes and $25 million in additional senior secured debt. This transaction will provide additional liquidity for the Company as it continues to advance its strategic plans to ensure it is best positioned to meet the evolving needs of its customers following the COVID-19 pandemic, and demonstrates the continued commitment of its investors to the long-term success of the Company.
  • Stonebriar Commercial Finance Closes a $50 Million Lease
    March 8, 2021
    Stonebriar Commercial Finance (“Stonebriar”), a large-ticket independent diversified commercial finance and leasing company, announced the closing of a $50 million sale and leaseback of certain casting furnaces and metal fabrication equipment with a leading aerospace parts producer of structural castings and engine components. The lease proceeds provide the company with additional liquidity for general corporate purposes as it navigates through the recently challenging market conditions.
  • North Mill Upsizes Investment Grade Bond Issuance to $25 Million
    March 8, 2021
    North Mill Equipment Finance LLC (“North Mill”), a leading independent commercial equipment lessor located in Norwalk, Connecticut, announced today the upsizing of its existing investment-grade rated corporate notes to $25 million. The company intends to use the net proceeds from the transaction for working capital and general corporate purposes to support additional growth.
  • MidCap Business Credit Closes $5 Million Asset-Based Revolving Line of Credit
    March 8, 2021
    MidCap Business Credit announced today they have closed on a $5,000,000 asset based revolving line of credit for a designer and extruder of foam products and components used in a variety of industries.
  • HPD LENDSCAPE Renews Commitment to Spanish Market by Becoming Official Member of the Spanish Association of Factoring
    March 8, 2021
    HPD Lendscape, a leading international secured-lending platform vendor, today announces that it has become an official member of The Spanish Association of Factoring (AEF). The announcement comes at a time when HPD Lendscape is particularly focused on serving the Iberian market, having just launched a new Spanish-language website.
  • TCF’s Inventory Finance Selected as Speed UTV’s Exclusive Floor Plan Financing Provider
    March 8, 2021
    TCF National Bank’s inventory finance subsidiary was named the exclusive floor plan financing provider for powersports company Speed UTV, which is owned by Robby Gordon, a former NASCAR and IndyCar racer, and Todd Romano, Founder of DragonFire Racing.
  • H.I.G. Capital Closes $1.4 Billion Bayside Loan Opportunity Fund
    March 8, 2021
    H.I.G. Bayside Capital, the distressed debt and special situation affiliate of H.I.G. Capital (“H.I.G.”), a leading global alternative asset management firm with over $43 billion of equity capital under management, is pleased to announce the final closing of H.I.G. Bayside Loan Opportunity Fund VI (the “Fund”). The Fund closed with aggregate capital commitments of $1.4 billion,* exceeding its target.
  • Alma Bank Announces New Chief Lending Officer
    March 8, 2021
    Alma Bank is pleased to announce the appointment of Hugh Donlon as Executive Vice President and Chief Lending Officer. Mr. Donlon will set the strategic direction of the Bank’s lending efforts, and oversee the management and development of all commercial real estate, commercial & industrial, residential, SBA and consumer lending.
  • Nexamp Secures $440 Million in Debt Financing for Solar and Energy Storage Portfolio
    March 8, 2021
    Nexamp, Inc., a leading renewable energy generator and community solar provider, has closed a $440 million senior secured credit facility for a 380-megawatt portfolio of solar and energy storage assets, the largest debt financing of its kind. The diverse portfolio spans five state markets and consists of nearly 100 community solar projects, including energy storage capacity totaling 120MWh. MUFG Union Bank, N.A. served as the Coordinating Lead Arranger for the syndicated financing, which included participation from an expansive group of market-leading lenders.
  • Golub Capital Provides Financing To Support Thompson Street Capital Partners’ Acquisition Of Freddy’s Frozen Custard & Steakburgers
    March 8, 2021
    Golub Capital acted as the Administrative Agent, Joint Lead Arranger and Joint Bookrunner on a GOLD facility to finance Thompson Street Capital Partners’ (“TSCP”) acquisition of Freddy’s Frozen Custard & Steakburgers (“Freddy’s”). GOLD financings are Golub Capital One-Loan Debt facilities. Freddy’s, a fast-casual restaurant concept, is known for its All-American menu of cooked-to-order steakburgers, hot dogs, shoestring fries and frozen custard. Freddy’s was founded in Wichita, KS and today has more than 360 franchised and company-owned restaurants across 32 states.
  • Gerber Finance Provides $3MM Line of Credit to Women-Led Steel Tubing Company
    March 8, 2021
    Gerber Finance, a leading finance partner for companies experiencing accelerated growth, today announced it has provided a $3 million line of credit to Karay Metals, a women-led supplier of steel tubing. The deal was made under Gerber Finance’s core division, which services companies seeking $500,000 to $10 million in financing.
  • Petco Announces Successful Completion of Debt Refinancing Transaction, Solidifying its Capital Position and Enhancing Financial Flexibility
    March 8, 2021
    Petco Health and Wellness Company, Inc. (NASDAQ: WOOF), a complete partner in pet health and wellness, today announced that, on March 4, 2021, it completed the successful refinancing of its existing term loan facility with borrowings under a new term loan facility and entered into a new asset based revolving credit facility replacing its existing asset based revolving credit facility.
  • J D Factors Provides Factoring Facilities
    March 8, 2021
    J D Factors announced it has provided the following factoring facilities: $200,000 to a staffing company in Quebec; $150,000 to a transportation company in Texas; $75,000 to a staffing company in California; $100,000 to a transportation company in Alberta.
  • FocalPoint Advises Vitamin Discount Center on its Sale to reCommerce
    March 8, 2021
    Vitamin Discount Center (“VDC,” or, the “Company”) has been acquired by reCommerce, a portfolio company of Topspin Consumer Partners (“Topspin”). FocalPoint Securities, LLC (“FocalPoint”) served as exclusive financial advisor to Vitamin Discount Center in connection with the transaction. Vitamin Discount Center is a leading software-enabled e-commerce seller and B2B services provider to industry leading brands in the vitamins, supplements, and health and beauty industries.
  • FTI Consulting Appoints Healthcare and Life Sciences Expert Jason Shafrin as Senior Managing Director
    March 8, 2021
    Dr. Shafrin, who will be based in Los Angeles, is a leading health economist with more than 15 years of experience in applied economics research serving as an advisor and expert to healthcare and life sciences companies, governments and non-governmental organizations on policy, regulation, innovation and value issues. His experience includes projects on value assessment, alternative payment model design, discrete choice experiment survey, real-world data analysis and digital medicine.
  • Viva Capital Funding Announces Multiple New Hires
    March 8, 2021
    Viva Capital Funding is excited to announce four new hires in the fields of Account Management, Account Support, and Marketing. Viva Capital Funding has announced the following new hires and their positions: Celina Barron as Account Manager, Paco Irigoyen as Account Manager, Darlene Rosales as Account Specialist, and Sasha Landskov as Marketing Specialist.
  • WeCommerce Signs Definitive Agreement to Acquire Stamped for up to $110 Million
    March 8, 2021
    WeCommerce has obtained commitments from a syndicate of lenders led by JPMorgan Chase Bank, N.A. (collectively, the “Lenders”) to provide financing of up to an aggregate of US$77 million to partially finance the purchase price for the Acquisition. The Credit Facility is expected to consist of a revolving credit facility, a term loan facility and a delayed draw term loan facility.
  • Ribbon Communications Announces Amended Credit Facility
    March 8, 2021
    Citizens Bank, N.A., as administrative agent under the credit facility, led the amendment with our syndicate banking partners including Santander Bank, N. A., Silicon Valley Bank, JPMorgan Chase Bank, N.A., HSBC Bank USA, N.A., Bank of America, N.A., Bank of Hope, Barclays Bank PLC, M&T Bank, Citibank, N.A., and Fifth Third Bank, N.A.
  • City National Bank Creates New National Corporate Banking Division, Williams to Lead
    March 8, 2021
    City National Bank, America’s Premier Private and Business Bank®, announced today the creation of a new National Corporate Banking division. The new division will be led by Brent Williams, senior vice president, who also leads City National’s L.A. Metro Commercial Banking business unit.
  • Announcing Assembled Brands’ Partnership with Sand Cloud
    March 4, 2021
    Today, Assembled Brands is thrilled to celebrate the closing of a new revolving line of credit with Sand Cloud, an apparel & lifestyle brand devoted to a mission of saving marine life. Since launching their business in 2014, and appearing on Shark Tank, the team at Sand Cloud has been committed to saving marine life by donating 10% of their profits to charitable organizations. They have reinvented the beach towel by using the finest sustainable Turkish materials in addition to introducing premium bath towels and eco-friendly accessories like reef safe sunscreen.
  • Hilco Global Completes its ‘Warm the Winter’ Philanthropy Initiative Delivering Over 9,500 New Winter Coats and Accessories in Major Cities Across the Nation
    March 4, 2021
    Hilco donated $1.8 million of new winter coats to families in underserved communities in Philadelphia, Jersey City, Boston, and Chicago, concluding this week at Instituto del Progreso Latino in Chicago’s Little Village neighborhood.
  • Valaris Receives Court Approval of Chapter 11 Plan of Reorganization
    March 4, 2021
    Kirkland & Ellis LLP and Slaughter and May are serving as legal advisors to Valaris in connection with the restructuring. Lazard Ltd. is serving as Valaris' financial advisor and Alvarez & Marsal North America LLC as its restructuring advisor. Kramer Levin Naftalis & Frankel LLP and Akin Gump Strauss Hauer & Feld LLP are serving as legal advisors to the consenting Noteholders, and Houlihan Lokey Inc. is serving as financial advisor. Shearman & Sterling LLP is serving as legal advisors to the RCF Administrative Agent, and Perella Weinberg Partners LP is serving as financial advisor.
  • Leading Capital Markets Lawyer Johnny Skumpija Joins Sidley in New York
    March 4, 2021
    Sidley is pleased to announce that Johnny Skumpija, a leading capital markets lawyer, has joined the firm’s New York office as a partner in its Capital Markets practice. Mr. Skumpija advises corporate clients and financial institutions in a wide variety of capital markets matters. He has extensive experience with initial public offerings, direct listings and other equity financings, high-yield and investment-grade debt financings, mergers and acquisitions, direct listings, SPAC transactions, private equity matters, and liability management transactions.
  • B. Riley Financial Names Martin Bernstein Head of Private Investments
    March 4, 2021
    B. Riley Financial, Inc. (NASDAQ: RILY) (“B. Riley”), a leading provider of business advisory and financial services, today announced that Martin Bernstein has joined B. Riley Principal Investments as Head of Private Investments. In this newly created role, Bernstein is responsible for sourcing, underwriting, and managing investments with private companies in addition to leading distribution to the firm’s syndication partners.
  • Essex Bank Announces New Credit Officers
    March 4, 2021
    Essex Bank, the banking subsidiary of Community Bankers Trust Corporation (NASDAQ: ESXB), announced today that the Bank has hired Stanley B. Jones, Jr. as its new Executive Vice President and Chief Credit Officer. The Bank also announced that it has hired Mary B. Randolph as Senior Vice President and Senior Credit Administrator, a newly created position.
  • Private Equity Firm Acquires Michaels in $5 Billion Deal
    March 4, 2021
    Private equity giant Apollo Global Management is acquiring arts and crafts retailer Michaels in a $5 billion deal. Apollo will buy all outstanding Michaels shares for $22 each — a 47% premium to Friday's closing stock price, and well above the stock's pandemic-era low of around $1. Michaels, which operates more than 1,250 stores in the United States and Canada, was hit hard last spring when the pandemic forced it to shutter locations temporarily. But as restrictions eased over the summer, the arts and crafts industry boomed.
  • The RSM US Middle Market Business Index Improves as Post-Pandemic Optimism Lifts Outlook
    March 4, 2021
    The RSM US Middle Market Business Index (MMBI), presented by RSM US LLP ("RSM") in partnership with the U.S. Chamber of Commerce, rose slightly in January 2021 to 124 from 121 in December 2020, indicating that while the U.S. economy continues to see pandemic-induced challenges, businesses are optimistic about future economic activity in 2021. This is the best reading for the index since October 2020, though it is still 7% below its pre-pandemic level. The index is part of the MMBI for the first quarter.
  • Radius Health, Inc. Announces $175 Million Financing Transaction
    March 4, 2021
    Radius Health, Inc. (“Radius” or the “Company”) (Nasdaq: RDUS), today announced that the Company has entered into amended and restated credit facilities in the aggregate principal amount of $175 million, consisting of a $150 million term loan, which includes a cashless conversion of $25 million in existing term loans, and a $25 million revolving credit facility. The amended and restated credit facilities also provide for an additional $25 million term loan at the lenders’ discretion. Funding was provided by MidCap Financial and additional lenders via an amendment and restatement of Radius’ existing loan agreement.
  • Staffing Industry Specialist Dale Busbee joins eCapital’s Commercial Finance Division as Senior Vice President, Business Development Officer
    March 4, 2021
    eCapital Commercial Finance (“eCapital”), a division of eCapital Corp., a leading North American alternative financing provider for small and medium-sized businesses, today announced the appointment of Dale Busbee to Senior Vice President, Business Development Officer. Busbee brings over 25 years of vertical market expertise within the staffing industry as a facilitator of payroll funding and working capital solutions to staffing businesses and a former staffing agency owner.
  • BDO Consulting Welcomes Nick Welch to its Business Restructuring and Turnaround Services Practice
    March 4, 2021
    BDO Consulting Group, LLC announced that Nick Welch recently joined the firm’s Business Restructuring and Turnaround Services practice as a Director in the firm’s Miami, Florida office and will primarily cover the Southeast regional markets. Nick, a seasoned financial advisor, has more than 20 years of experience in professional services and has spent the last nine advising lenders, investors and management teams on debt and operational restructuring strategies as well as on transaction services such as diligence, quality of earnings, sell-side advice and valuation.
  • PetroFrontier Corp. Announces Credit Facility
    March 3, 2021
    The commitment letter provided to the Corporation provides for advances in the amount of up to CDN $2,000,000 (the "Credit Facility") from a syndicate of lenders including Kasten Energy Inc. ("Kasten") and Paul Cheung (collectively, the "Lenders"). Kasten and Paul Cheung are insiders of PetroFrontier as they each own more than 10% of the outstanding common shares of the Corporation (the "Common Shares"). The closing of the Credit Facility is subject to the approval of the TSX Venture Exchange Inc. (the "Exchange").
  • XPO Logistics Announces Closing of $2 Billion Term Loan Refinancing
    March 3, 2021
    Morgan Stanley, Goldman Sachs, Barclays, Citigroup, Credit Agricole, Credit Suisse, Deutsche Bank and Wells Fargo served as joint bookrunners, and Wachtell, Lipton, Rosen & Katz acted as legal advisor on the transaction.
  • Streamline Health® Expands Credit Facility with Bridge Bank
    March 3, 2021
    Streamline Health Solutions, Inc. (NASDAQ: STRM), provider of the eValuator™ Revenue Integrity Program to help healthcare providers proactively address revenue leakage and compliance exposure, today announced it has expanded its existing relationship with Bridge Bank on its credit facility.
  • The Hillman Group Announces Pricing and Commitments for $1.185 Billion of Term Loans in Heavily Oversubscribed Transaction
    March 3, 2021
    The Hillman Companies, Inc. (the "Company" or "Hillman”), a leader in the hardware and home improvement industry, has successfully completed the syndication of $1,185 million new term loan commitments to refinance its capital structure. The financing will be used in connection with and contingent upon the Company's merger with Landcadia Holdings III Inc. (Nasdaq: LCY) (“Landcadia”), a special purpose acquisition company. The financing also includes a $250 million, five-year asset-based revolving credit facility.
  • Second Avenue Capital Partners Provides a $6.5 Million DIP Facility to Solstice Sunglasses
    March 3, 2021
    Second Avenue Capital Partners, LLC ("SACP") (www.secondavecp.com) has provided $6.5 million in debtor-in-possession (“DIP”) financing to Solstice Sunglasses, the second-largest sunglass retailer in the United States. The DIP facility delivers supportive capital to Solstice as the retailer commences a restructuring. The Company has retained Morgan, Lewis & Bockius L.L.P. as its legal counsel, RCS Real Estate Advisors to advise on all store leases, and KCP Advisory Group LLC’s Jacen Dinoff as Chief Restructuring Officer.
  • Alleon Healthcare Capital Provides a Medical Accounts Receivable Factoring Facility to a COVID-19 Testing Laboratory in Missouri
    March 3, 2021
    Alleon Healthcare Capital ("Alleon"), a specialty finance company focused on providing healthcare accounts receivable financing, medical accounts receivable factoring, and cash flow solutions to medical providers in the U.S., recently closed a medical accounts receivable factoring facility with a molecular reference laboratory (“Company”) in Missouri.
  • Liquidia Corporation Secures $20.5 Million Debt Facility with Silicon Valley Bank
    March 3, 2021
    Liquidia Corporation (NASDAQ: LQDA) today announced the closing of a debt facility on February 26, 2021, with Silicon Valley Bank, which provides Liquidia with up to $20.5 million in term loans of which the first $10.5 million was funded at closing. Under the terms of the debt facility, Silicon Valley Bank will make loans available in three tranches. Proceeds from the first tranche of $10.5 million have been used to retire Liquidia’s existing term debt with Pacific Western Bank and adds approximately $1.0 million to Liquidia’s balance sheet.
  • Grant Thornton Names Beatrix Bernauer as Chief Risk and Compliance Officer
    March 3, 2021
    Grant Thornton LLP has named Beatrix Bernauer as its chief risk and compliance officer, a new role at the firm. In the role, she will design and execute the firm’s enterprise-risk management program and practices, including frameworks and methodologies to support effective risk identification, assessment, mitigation and monitoring.
  • Pacific Mercantile Bank Provides $7.0 Million Credit Facility to Winc, Inc.
    March 3, 2021
    Pacific Mercantile Bank (“the Bank”), the wholly owned subsidiary of Pacific Mercantile Bancorp (NASDAQ: PMBC), today announced that it has provided a $7.0 million credit facility to Winc, Inc., an online winery and wine club. In addition to the financing, Winc utilizes a full suite of Pacific Mercantile Bank’s depository products and treasury management services.
  • February 2021 Bankruptcy Filings Down 3%
    March 3, 2021
    Epiq, a global technology-enabled services leader to the legal services industry and corporations, released its February 2021 bankruptcy filing statistics from its AACER bankruptcy information services business. February experienced the lowest number of new monthly bankruptcy filings across all chapters, with only 31,188 filings, since February 2006 (26,617 filings). The continued slide represents a decrease of 3% over January 2021 filings and a 45% decrease over February 2020 filings, where there were 56,209 new cases.
  • Monroe Capital Announces Strategic Minority Investment by Bonaccord Capital Partners / Aberdeen Standard Investments
    March 3, 2021
    Monroe Capital LLC ("Monroe" or the "Firm"), a leading middle market private credit investment manager with approximately $10 billion in assets under management, today announced that it has sold a passive minority equity stake to Bonaccord Capital Partners (“Bonaccord”), a division of Aberdeen Standard Investments (“ASI”). Terms of the investment were not disclosed.
  • Hertz to Sell to Knighthead, Certares to Exit Bankruptcy
    March 3, 2021
    Hertz Global Holdings Inc. received a bid from Knighthead Capital Management and Certares Management to purchase the rental-car company out of bankruptcy for as much as $4.2 billion, according to court documents.
  • Stonebriar’s Eighth Securitization Transaction Provides A Strong Foundation for Continued Growth
    March 3, 2021
    Stonebriar Commercial Finance (“Stonebriar”), a large-ticket independent diversified commercial finance and leasing company, announced that it has closed its eighth asset-backed securitization (“ABS”), SCFET 2021-1. The ABS issuance is secured by a portfolio of commercial equipment loans and leases, with an aggregate discounted contract balance of over $1 billion with 64 obligors, and a weighted average IRR of 8.24%. The top tranches earned the highest possible short-term and long-term ratings from Moody’s Investors Service (“Moody’s”) and Kroll Bond Ratings Inc. (“Kroll”).
  • David E. Friedman Joins Greystone to Lead Institutional Lending Platform
    March 3, 2021
    Greystone, a leading national commercial real estate finance company, announced that David E. Friedman has joined as a Senior Managing Director and Head of Institutional Lending to lead a strategic build-out and take-to-market execution of the firm’s new institutional lending platform.
  • King Trade Capital (“KTC”) Establishes a $7 Million Purchase Order Finance Line for NY Apparel Brand
    March 2, 2021
    KTC was contacted by a referral partner who was hired to seek capital for a New York based apparel brand in need of capital to fund its’ growing inventory need to fulfill growing sales. KTC was able to quickly assess the Client’s in-house pre-sold inventory and their supply chain finance needs and KTC offered a full trade cycle finance solution to help the Client execute upon the doubling their sales in 2021.
  • Paper Source Retail Chain Files for Chapter 11 Bankruptcy Protection, Will Close 11 Stores
    March 2, 2021
    Paper Source, which sells greeting cards, paper goods and custom invitations, filed for Chapter 11 bankruptcy protection on Tuesday after sales plummeted due to the pandemic. The move marks a reversal for a company that was expanding as recently as a year ago, having acquired some from its liquidating rival Papyrus right before COVID-19 hit. It also marks another setback for the greeting card industry, which has been slumping in recent years amid the rise of digital competition.
  • Perpetual Energy Inc. Announces Extension of Credit Facility Redetermination
    March 2, 2021
    Perpetual Energy Inc. ("Perpetual" or the "Company") announced today that the maturity date applicable to the Company's credit facility has been extended to April 30, 2021 and the $20 million borrowing limit maintained. The borrowing limit is scheduled to be redetermined and the revolving credit period extended on or before April 30, 2021.
  • Monroe Capital Corporation BDC (Nasdaq: MRCC) Announces Fourth Quarter and Full Year 2020 Financial Results
    March 2, 2021
    Fourth Quarter 2020 Financial Highlights: Paid quarterly dividend of $0.25 per share; Current annual cash dividend yield to shareholders of approximately 10.5%1; Shares trading at a Price to NAV of 0.86x2; Net investment income of $5.3 million, or $0.25 per share...
  • Context Business Lending Launches an E-Commerce Division
    March 2, 2021
    Context Business Lending, LLC ("CBL") a family office-backed leading, national asset-based lender becoming increasingly well known for disrupting non-bank Asset Based Lending ("ABL") industry, announced today the launch of its official E-Commerce Division. With online retail sales skyrocketing as a result of the Pandemic, many E-commerce companies and distribution centers have found themselves without viable working capital solutions to help facilitate that growth. CBL has designed an offering to specifically address the needs of E-Commerce companies.
  • Rosenthal Provides $1.25 Million Production Finance Facility for New York-based Kitchen and Cookware Company
    March 2, 2021
    Rosenthal & Rosenthal, Inc., the leading factoring, asset-based lending and purchase order financing firm in the U.S., today announced the completion of a recent $1.25 million purchase order finance facility to support the production financing requirements of a New York-based importer and distributor of kitchen and cookware products.
  • DLL to Provide Dealer Floor-plan Financing for Winnebago Industries Brands
    March 2, 2021
    DLL, global asset finance company for equipment and technology, has partnered with Winnebago Industries, manufacturer of outdoor lifestyle products used primarily in leisure travel and outdoor recreation activities. Dealers of Winnebago, Grand Design and Newmar recreational vehicle branded product will now have the benefit and option of financing floorplan and inventory purchases with a DLL line of credit, anywhere in North America.
  • MUFG Arranges its First Project Finance Collateralized Loan Obligation
    March 2, 2021
    Mitsubishi UFJ Financial Group (MUFG) is announcing today that it has acted as a structuring lead on Starwood Property Trust Inc.'s first project finance collateralized loan obligation (CLO) – STWD 2021-SIF1. The deal also represents MUFG's first structuring lead mandate on a project finance CLO backed by a pool of $500 million project finance and corporate infrastructure loans secured primarily by long-term, critical, core infrastructure projects. STWD 2021-SIF1 was designed to optimize Starwood's portfolio management strategy while leveraging MUFG's experience and deep technical expertise in project finance loans.
  • CVG Extends $90 Million ABL Facility To 2026
    March 2, 2021
    CVG (NASDAQ: CVGI), announced that effective today, it has amended its $90.0 million asset-based Revolving Credit Facility (the "ABL Facility") with Bank of America, N.A., as agent, and certain financial institutions as lenders, extending its maturity date to March 1, 2026.
  • Matrix Announces the Successful Sale of Walker Magnetics Group, Inc.
    March 2, 2021
    Matrix Capital Markets Group, Inc. (“Matrix”), a leading, independent investment bank, is pleased to announce the sale of Walker Magnetics Group, Inc. (“Walker Magnetics” or the “Company”) to Industrial Magnetics, Inc. (“IMI”), a portfolio company of DNS Capital, LLC (“DNS”). Prior to the sale, Walker Magnetics was owned by Alliance Holdings, Inc. (“Alliance Holdings”), a private investment firm based in Horsham, PA.
  • Stacy Kymes Named BOK Financial Chief Operating Officer
    March 2, 2021
    BOK Financial has named Stacy Kymes Chief Operating Officer with responsibility for all revenue-generating divisions. Kymes, who has been with the company for almost 25 years, previously served as executive vice president over all specialized banking areas, including energy, commercial real estate, healthcare, treasury services and TransFund.
  • Sandra Whalen joins WSFS Institutional Services as Senior Vice President, Business Development Officer
    March 2, 2021
    Sandra Whalen has joined WSFS Institutional Services®, a division of WSFS Bank, the primary subsidiary of WSFS Financial Corporation (Nasdaq: WSFS), as Senior Vice President, Business Development Officer. Reporting to WSFS’ Executive Vice President and Chief Wealth Officer Arthur J. Bacci, Whalen’s primary focus is to strengthen and grow client relationships, help develop new products and work closely with the Corporate Trust team.
  • FTI Consulting Bolsters Power & Renewables Expertise
    March 2, 2021
    FTI Consulting, Inc. (NYSE: FCN) today announced the appointment of Miriam Wrobel as a Senior Managing Director in the Power & Renewables practice within the Corporate Finance & Restructuring segment at FTI Consulting, enhancing the firm’s clean energy strategic advisory offerings for clients throughout the deal lifecycle.
  • Express Trade Capital Delivers a 1.25M Combo Facility to Knockout Cashflow Gap for a Loungewear Co
    March 2, 2021
    The client is a Hawaiian-based loungewear company. With the unprecedented explosion of people working from home precipitated by the pandemic, workers are retiring their suits for something more comfortable to weather uncomfortable times. While many in the apparel industry experienced drastic reductions in sales volume, the popular shift to loungewear has increased sales for at least this small segment of apparel wholesalers, including some others in similar categories like athletic apparel and gear.
  • Geneviève Piché Leads Banking Environmental, Social and Governance (ESG) Solutions in Corporate & Investment Banking
    March 1, 2021
    Wells Fargo Corporate & Investment Banking (CIB), a division of Wells Fargo & Company (NYSE: WFC), today announced that it has appointed Geneviève Piché to lead Banking Environmental, Social, and Governance (ESG) Solutions. In this newly created role, Piché will drive a cohesive approach to meet accelerated demand for ESG products in the Corporate and Investment Bank, spanning debt capital markets, equity capital markets, public finance, lending, M&A advisory, cash management products, and liquidity.
  • MobiTV Enters Chapter 11, Secures $15.5M to Stay Afloat
    March 1, 2021
    Facing a major cash crunch, MobiTV has filed for voluntary Chapter 11 bankruptcy and the pursuit of a process that could result in the pay-TV tech vendor selling most of its assets. MobiTV said it has secured some critical financing to facilitate the restructuring along with assurances that its customers, which include T-Mobile and dozens of small and midsized cable operators, will continue to be served as the process plays out
  • A Much Smaller Ruby Tuesday Emerges From Bankruptcy
    March 1, 2021
    Ruby Tuesday, the iconic bar-and-grill chain, has emerged from federal bankruptcy protection with less debt and a lot fewer restaurants. The Maryville, TN-based chain, whose decline over the past 15 years has been a symbolic demonstration of the challenges faced by ’80s-era, mall-focused casual-dining restaurants, has 209 locations after the bankruptcy process allowed the company to shed leases and close restaurants.
  • Leveraged Lending a Growing but Manageable Risk for U.S. Banks
    March 1, 2021
    Credit risk for those U.S. banks and non-bank entities active in corporate lending is rising, as seen in the shared national credit (SNC) regulatory report released on Feb. 22, with “non-pass” loans increasing to 12.4% of SNC-reported commitments at 3Q20 from 6.9% a year before. However, while criticized loans increased as a result of the pandemic-induced economic fallout and lender exposure to affected industries, they remain well below the 2009 peak of 22%. Credit risks to U.S. banks appear manageable over the near to medium term, thanks in part to their primary focus on investment-grade lending exposure, as well as fiscal support measures and the corresponding and rapid growth of loan loss reserves, Fitch Ratings says.
  • Horizon Technology Finance Provides $9 Million Venture Loan Facility to Primary
    March 1, 2021
    Horizon Technology Finance Corporation (NASDAQ: HRZN) ("Horizon"), a leading specialty finance company that provides capital in the form of secured loans to venture capital backed companies in the technology, life science, healthcare information and services, and sustainability industries, announced today it has provided a $9 million venture loan facility to Primary Kids, Inc. ("Primary"), of which $6 million has been initially funded.
  • Robert Mocerino Joins White Oak to Lead Staffing and Government Contracting Finance Originations
    March 1, 2021
    White Oak Commercial Finance ("White Oak"), an affiliate of White Oak Global Advisors, is pleased to welcome Robert Mocerino as Senior Vice President, Managing Director of Staffing and Government Originations. He will be based in New York with national coverage responsibilities reporting to Bob Grbic, President & CEO of White Oak Commercial Finance.
  • King Trade Capital (“KTC”) Establishes a $7 Million Purchase Order Finance Line for NY Apparel Brand
    March 1, 2021
    KTC was contacted by a referral partner who was hired to seek capital for a New York based apparel brand in need of capital to fund its’ growing inventory need to fulfill growing sales. KTC was able to quickly assess the Client’s in-house pre-sold inventory and their supply chain finance needs and KTC offered a full trade cycle finance solution to help the Client execute upon the doubling their sales in 2021.
  • Announcement from CFPB Acting Director Dave Uejio
    March 1, 2021
  • Tiger Group Online Auction on March 9 Features Heavy Equipment, Tools and Rolling Stock from Advanced Pavement Group
    March 1, 2021
    Tiger Group will begin accepting bids on March 2 for a March 9 online auction of heavy equipment, paving equipment, trucks, trailers, and tools from one of the largest paving contractors in the Northeast: Advanced Pavement Group (APG). The assets are located at the company’s sites in New Castle, Del.; Downingtown, Pa.; Millville, N.J.; and Islip, N.Y.
  • Ares Commercial Finance Has Provided a $100 Million Senior Secured Revolving Line of Credit to Support Rawlings Sporting Goods, Inc. in its Acquisition of Easton Diamond Sports, LLC
    March 1, 2021
    Ares Commercial Finance (“ACF”) announced that it has provided a $100 million senior secured revolving line of credit to support the acquisition of Easton Diamond Sports, LLC (“Easton”) by Rawlings Sporting Goods, Inc. (“Rawlings”), a portfolio company of Seidler Equity Partners. Rawlings and Easton are leading global brands and manufacturers of premium baseball and softball equipment, including bats, gloves, balls, and protective gear.
  • Broadmark Realty Capital Announces New Revolving Credit Facility
    March 1, 2021
    Broadmark Realty Capital Inc. (NYSE: BRMK) (the “Company”), an internally managed secured real estate finance company, today announced that the Company has obtained a new $135 million secured revolving credit facility with a three-year term. JPMorgan Chase Bank, N.A. acted as administrative agent for the lending group, which included Barclays Bank PLC, Axos Bank, VNB New York, LLC and China CITIC Bank International Limited.
  • Atlas Technical Consultants Announces Significant Recapitalization and Simplification of Its Capital Structure
    March 1, 2021
    Atlas Technical Consultants, Inc., a leading provider of professional testing, inspection, engineering, environmental, and consulting services, announced today a significant recapitalization and simplification of the Company’s capital structure. The Company has replaced its current debt and preferred equity agreements with a new, more economically favorable term loan credit agreement funded by funds and accounts managed or advised by Blackstone Credit or its affiliates, consisting of $432 million of long-term debt maturing in 2028 and a $75 million committed delayed draw term loan
  • Titan International, Inc. Announces Extension Of Domestic Credit Facility with Agent BMO Harris Bank N.A.
    March 1, 2021
    Titan International, Inc. (NYSE: TWI) today announced the completion of an amendment to its domestic credit facility. On February 25, 2021, the Company amended and extended the Credit and Security Agreement (the Agreement), dated as of February 17, 2017 (as amended), with agent BMO Harris Bank N.A. and other financial institutions with respect to its $125 million revolving credit facility (the Credit Facility).
  • MUFG Bolsters Leveraged Finance Platform With Hiring of Trading and Syndicate Heads
    March 1, 2021
    Mitsubishi UFJ Financial Group (MUFG) announced today the hiring of two managing directors for its leveraged finance platform: Todd Bondy will serve as Head of High-Yield Trading, and Ryan Munro will serve as Head of Leveraged Syndicate. Both will be based in New York and are scheduled to join the firm in April.
  • Crestmark Provides More Than $72.7 Million in Commercial Financing to 84 Businesses from mid-January to mid-February 2021
    March 1, 2021
    Crestmark secured a total of $29,940,115 in ABL financial solutions for 15 new clients; Crestmark Equipment Finance provided $21,737,910 in 14 new lease transactions; Crestmark Vendor Finance provided $4,717,776 in 50 new lease transactions; the Joint Ventures group provided $3,788,960 in one new transaction; and the Government Guaranteed Lending group provided $12,540,200 in financing for four new clients in late January to early February.
  • Monroe Capital Sponsors Third SPAC – MCAP Acquisition Corporation
    March 1, 2021
    Monroe Capital LLC (“Monroe” or “Sponsor”) announced it has sponsored MCAP Acquisition Corporation (the “Company” or “MCAP”), a special purpose acquisition company (“SPAC”). This is the third SPAC Monroe has participated as a sponsor investor. In 2018, Monroe co-sponsored Thunder Bridge Acquisition, Ltd. and supported its successful business combination with Repay Holdings Corporation (NASDAQ: RPAY). In 2019, Monroe co-sponsored Thunder Bridge Acquisition, Ltd. II, which has entered into a definitive merger agreement with indie Semiconductor.
  • J D Factors Announces Factoring Facilities
    March 1, 2021
    J D Factors announced it has provided the following factoring facilities: $250,000 to a transportation company in Illinois; $250,000 to a transportation company in Georgia; $200,000 to a transportation company in Florida; $250,000 to a transportation company in Texas...
  • Broadmark Realty Capital Announces New Revolving Credit Facility
    February 25, 2021
    Broadmark Realty Capital Inc. (NYSE: BRMK) (the “Company”), an internally managed secured real estate finance company, today announced that the Company has obtained a new $135 million secured revolving credit facility with a three-year term. JPMorgan Chase Bank, N.A. acted as administrative agent for the lending group, which included Barclays Bank PLC, Axos Bank, VNB New York, LLC and China CITIC Bank International Limited.
  • Old Hill Partners Completes a $5.1 million Senior Secured Financing for a Shipping Container Owner-Lessor
    February 25, 2021
    Old Hill provided $5.1 million in the form of a senior secured drawdown facility to a company that acquires and leases standard 40’ shipping containers. Its lessees include shippers with trade routes in Asia and the Middle East. Leasing and container management services are provided to the borrower by managers in Hong Kong and Singapore. Security for the facility consists of the new containers, the leases, receivables from the leases, a stock pledge of the borrower, and guarantees.
  • Bridge Bank Extends $12,000,000 Credit Facility to Ellevation
    February 25, 2021
    Bridge Bank today announced it has extended a $12,000,000 credit facility to Ellevation, a cloud-based software platform serving nearly 1,000 school districts and supporting more than 1.5 million students across the country. Ellevation focuses specifically on supporting the fastest-growing population of K-12 students, English language learners by helping school districts manage their English language programs through a compliance, data and instructional planning platform, providing resources to build teacher capacity and student-facing programs to teach academic language.
  • Big 5 Sporting Goods Corporation Announces Entry Into New Five-Year Credit Facility
    February 25, 2021
    Big 5 Sporting Goods Corporation (Nasdaq: BGFV) (the “Company,” “we,” “our,” “us,” “Big 5”), a leading sporting goods retailer, announced today that it has entered into a new loan agreement with Bank of America, N. A., as administrative agent and lender (the “Loan Agreement”). The Loan Agreement has a five-year term which matures in February 2026 and provides for a secured revolving credit facility with aggregate committed availability of up to $150 million.
  • Global Net Lease Announces Upsized Credit Facility, $50 Million Commitment From Barclays Brings Facility Total To $1.2 Billion
    February 25, 2021
    Global Net Lease, Inc. (NYSE: GNL) ("GNL" or the "Company") announced today that Barclays has committed $50 million to the Company's revolving credit facility, bringing total commitments to approximately $1.2 billion. The increase in commitments was made, at the request of the Company, pursuant to the credit facility's uncommitted "accordion feature."
  • Startek Announces $185 Million Debt Refinancing
    February 25, 2021
    Startek, Inc. (NYSE: SRT) ("Startek" or the "Company"), a global provider of customer experience management solutions, today announced that CSP Alpha Holdings Pte. Ltd., a wholly-owned subsidiary of the Company, has successfully completed a debt refinancing with a newly secured $185 million senior debt facility, comprising a $165 million term loan and a $20 million revolving credit facility. Borrowings under the new senior debt will bear a tiered interest rate, which is based on the Company’s consolidated net leverage ratio and is initially set at LIBOR plus 450 basis points.
  • Agencies Issue Shared National Credit Review
    February 25, 2021
    Credit risk for large, syndicated loans has increased over the last year, according to the 2020 Shared National Credit (SNC) Review released by federal bank regulatory agencies today. The elevated risk is largely attributed to the effects of COVD-19. While risk has increased, many agent banks have strengthened their risk management systems since the prior downturn and are better equipped to measure and mitigate risks associated with loans in the current environment.
  • Petal Closes $125 Million Debt Facility From SVB & Trinity Capital
    February 25, 2021
    Petal, a credit card startup pioneering “Cashflow Underwriting” as an alternative to traditional credit scoring, announced on Wednesday it has closed a new committed debt facility, totaling more than $125 million. According to Petal, the new facility includes $100 million from Silicon Valley Bank (SVB), the bank of the world’s most innovative companies and investors, and $26.6 million from Trinity Capital Inc.
  • Brightwood Capital Appoints Michael Novoseller to Senior Investment Role
    February 25, 2021
    Brightwood Capital Advisors, a leading private credit firm focused on providing capital to growing North American middle-market businesses, today announced that Michael Novoseller has rejoined the firm as a senior member of the investment team.
  • CVC Credit Supports Further Growth at Calibre Scientific with an Incremental $57 Million Multicurrency Credit Facility
    February 25, 2021
    CVC Credit is pleased to announce that it has further supported life sciences and diagnostics business, Calibre Scientific, by leading an incremental $57 million multicurrency first lien credit facility to help fuel its ongoing global acquisition strategy. Calibre Scientific is owned by investment firm StoneCalibre. CVC Credit originally provided a $92 million multicurrency first lien credit facility for Calibre Scientific in June 2020.
  • Peak Rock Capital Partners with FinTech Platform NepFin to Provide Capital to Middle Market and Growth-Oriented Businesses
    February 25, 2021
    An affiliate of Peak Rock Capital LLC ("Peak Rock"), a leading middle-market private investment firm, announced today that it has partnered with Neptune Financial ("NepFin") to expand capital access and provide financing solutions to middle market and growth-oriented businesses. The relationship will combine Peak Rock's flexible capital base and best-in-class investment expertise with NepFin's business intelligence and sourcing capabilities to bring financing solutions to a wide range of businesses.
  • First Business Bank Closes $8.4 Million Turnaround Asset-Based Lending Financing
    February 25, 2021
    Mike Colloton, Vice President – Asset-Based Lending at First Business Specialty Finance, LLC, a subsidiary of First Business Bank, announces a recently closed and funded $8,400,000 revolving line of credit facility, real estate term loan, and equipment term loan for a manufacturer/distributor of restaurant equipment in Ohio.
  • Janice Ibey Joins Pacific Western Bank as SVP, Business Development Officer for Asset-Based Lending in Southern California
    February 25, 2021
    Pacific Western Bank is pleased to announce that Janice Ibey has joined the Bank as a Senior Vice President, Business Development Officer on its asset-based lending team. She will be located in Orange County, California. Janice will expand the Bank’s efforts to deliver asset-based lending solutions to middle-market businesses from the Central Valley to San Diego and beyond.
  • Republic First Bancorp, Inc. Chairman Vernon Hill Named CEO
    February 25, 2021
    Republic First Bancorp, Inc. (NASDAQ: FRBK), the parent company of Republic Bank, today announced that Chairman Vernon W. Hill has been named to the additional role of Chief Executive Officer at both the Holding Company and the Bank. Harry D. Madonna, the founder of the bank, will remain as President and Chairman Emeritus of Republic First Bancorp, Inc.
  • CohnReznick Wins Turnaround Atlas Awards Out-of-Court Restructuring of the Year
    February 25, 2021
    CohnReznick LLP, one of the leading advisory, assurance, and tax firms in the United States, today announced that it received a second major industry award for its restructuring work for Allentown, Pennsylvania-based Coordinated Health. The 12th Annual Turnaround Atlas Awards recently recognized CohnReznick with its Out-of-Court Restructuring of the Year Award (mid-markets).
  • Pinnacle Capital Finance Provides a $4 Million Line of Credit Coupled with a $2.5 Million Inventory Line to a Renewable Energy Company
    February 24, 2021
    Pinnacle Capital Finance is happy to announce the issuance of a $4MM line of credit with a $2.5 million inventory sub-feature to a power and cooling systems manufacturer. This Southern California company burst onto the market in the 1970’s with their solar powered vaccine refrigerator/freezer that has been utilized in various isolated areas of the world. They have since successfully applied their solar related expertise by expanding into the renewable energy sector.
  • Gateway Trade Funding Closed 9 PO Facilities for US and Canadian Resellers, Distributors, Suppliers, and Importers
    February 24, 2021
    Gateway Trade Funding, a PO and Trade Financing company, is happy to announce that it has recently closed the following purchase order facilities: $1,500,000 PO facility for a US reseller of hand sanitizer products selling to US retailers; $750,000 PO facility for a US distributor of men’s and women’s watches selling to US subscription box companies.
  • Paul Hastings Welcomes Experienced Finance Lawyer Stacy Hopkins Back to the Firm
    February 24, 2021
    Paul Hastings LLP, a leading global law firm, announced today that experienced finance lawyer Stacy Hopkins has rejoined the firm, resident in the firm’s Los Angeles office. She joins from Wells Fargo Commercial Capital (WFCC), where she served as Senior Vice President in the Healthcare Finance group.
  • Hitachi Capital America’s Jacob Fahl Named Funding & Portfolio Services’ Vice President, Don Link Retires
    February 24, 2021
    Hitachi Capital America Vendor Services (HCAVS), an organization that has been providing manufacturers and distributors with creative and competitive vendor financing solutions for over 20 years, is pleased to announce the promotion of Jacob Fahl to Vice President, Funding & Portfolio Services. Fahl who has replaced Don Link upon his retirement in mid-January, joined the organization in 2014, as an Opportunity Development Leader.
  • North Avenue Capital Finances a $15 Million Business & Industry Guaranteed Loan for Texas Green Star - Hydroponics
    February 24, 2021
    North Avenue Capital (NAC), one of the leading providers of USDA-backed commercial loans, is helping Texas Green Star (TGS) convert a 320-acre former commercial nursery facility into an innovative, state-of-the-art hydroponics growing operation with a focus on producing fresh leafy greens. Located north of Dallas in Sanger, Texas, a city with a population of fewer than 10,000 residents, this $15 million Business & Industry Guaranteed Loan will equip TGS to put a previously abandoned property to work producing nutritious vegetables year-round while avoiding the challenges that traditional agricultural producers face when growing out in the elements.
  • Ginnie Mae Utilizes Wolters Kluwer eOriginal Technology for First Fully Electronic Securitization
    February 24, 2021
    Wolters Kluwer Compliance Solutions’ newly acquired eOriginal technology platform is helping support a major U.S. government institution’s efforts to adopt digital technologies as part of its broader modernization initiative. Ginnie Mae, an eOriginal client, recently announced a key milestone in its digital journey by guaranteeing securitization of mortgage-backed securities (MBS) for the first time exclusively through the use of eNotes technology, utilizing the eOrginal platform.
  • BOK Financial Names New Managing Director of Loan Syndications
    February 24, 2021
    BOK Financial (NASDAQ: BOKF) announced today that Kaushik Ponnusamy has been named the successor to retiring Evans Swann and will assume the role of managing director of loan syndications for the organization. Ponnusamy will lead the firm’s existing team of high-quality syndicators and oversee multi-bank marketing efforts across the company from the organization’s office in Dallas.
  • Pennant Announces Credit Facility Upsize with Truist Bank
    February 24, 2021
    The Pennant Group, Inc. (NASDAQ: PNTG), the parent company of operating subsidiaries that provide home health, hospice and senior living services, announced that it has amended its revolving credit facility effective today, increasing its revolving line of credit by $75 million to a total of $150 million, of which approximately $18.3 million was drawn as of February 22, 2021. The amended credit facility is supported by a lending consortium arranged by Truist Bank.
  • InterNex Capital Provides $3,000,000 Line of Credit
    February 23, 2021
    InterNex Capital has provided a $3,000,000 Line of Credit (VelocityLOC) to a 20+ year old, foreign owned New York company who deploys and manages large scale video displays in malls, window fronts, and offices across North America.
  • Marco Financial Joins the COVID-19 Fight by Providing Receivables Finance for a Personal Protective Equipment Distributor
    February 23, 2021
    Marco Financial established a $2,000,000.00 expandable receivables-based finance facility for a large domestic distributor of Personal Protected Equipment (PPE). Vital medical-provider protective supplies such as sterile gowns, gloves and masks are still in short supply and this Mid-Western distributor is a leading national source for large individual hospitals, and multi facility healthcare organizations.
  • SANY & QuickFi® Announce Customer Financing Partnership
    February 23, 2021
    Today, SANY announced it will partner with QuickFi, employing two QuickFi platforms: - the QuickFi 100% digital, borrower self-service financing platform, for nearly instant digital, financing of SANY equipment sales through SANY’s U.S. dealer network; and - the new, QuickFi e-commerce financing platform. After selecting, pricing and configuring SANY equipment on-line, equipment purchasers may transfer the shopping cart contents into QuickFi to apply for, structure, and consummate nearly instant one to five-year, fixed rate, term financing of SANY equipment purchased on-line.
  • CohnReznick Wins Turnaround Atlas Awards Out-of-Court Restructuring of the Year
    February 23, 2021
    CohnReznick LLP, one of the leading advisory, assurance, and tax firms in the United States, today announced that it received a second major industry award for its restructuring work for Allentown, Pennsylvania-based Coordinated Health. The 12th Annual Turnaround Atlas Awards recently recognized CohnReznick with its Out-of-Court Restructuring of the Year Award (mid-markets). The independently governed awards distinguish excellence in various categories of transactions, outstanding firms, top U.S professionals, and other leaders. CohnReznick previously earned the prestigious Turnaround Management Association (TMA) 2020 Turnaround and Transaction of the Year Award for its work for Coordinated Health.
  • Gerber Finance’s Naturally Gerber Division Closes Three Deals
    February 23, 2021
    Gerber Finance, a leading finance partner for companies experiencing accelerated growth, announced the closing of lines of credit to three natural products companies: Spiceology, Pacha Soap Company, and 4th and Heart. The deals were completed under the Naturally Gerber Division, which was launched in September 2020 to serve companies in the fast-growing natural products space.
  • SG Credit Partners Provides $1.0MM Second Lien Bridge Loan to Independent Registered Investment Advisor
    February 23, 2021
    SG was able to get comfortable with the transaction due to the Company’s sticky recurring revenue business model, projected growth in run-rate revenue supported by a strong pipeline, the enterprise value of the Company, and its clear path to profitability. SG was able to close the transaction within 10 days of a signed term sheet.
  • CIT Serves as Sole Lead Arranger on $45 Million Financing for Container Ships
    February 23, 2021
    CIT Group Inc. (NYSE: CIT) today announced that its Maritime Finance business served as sole lead arranger on a $45 million financing for a portfolio of seven container ships. The financing was arranged on behalf of a fund managed by Mangrove Partners, a New York City-based value-oriented investment manager with substantial expertise is shipping assets. All seven vessels are covered by existing charters with leading container ship operators.
  • Morgan Lewis Further Bolsters Finance Practice; Luis Herrero Joins as Partner in Chicago
    February 23, 2021
    Morgan Lewis is again adding strength to its global finance team with the addition of Luis Herrero, who joins from Sidley as a partner resident in the Chicago office. Luis’s move to Morgan Lewis follows the recent arrival of former Sidley global finance practice co-leader Mark Kirsons.
  • Amerisource Closes $12,000,000 Credit Facility for Field Services Firm
    February 23, 2021
    Amerisource Business Capital announced the closing and funding of a $12,000,000 senior credit facility for a Texas based field services firm. The proceeds were used to support the company’s growth plans.
  • B. Riley Adds Compliance, Risk & Resilience Consulting Practice
    February 23, 2021
    B. Riley Financial, Inc. (NASDAQ: RILY), a leading provider of financial services and business advisory solutions, today announced the addition of a Compliance, Risk and Resilience practice to its financial consulting division, B. Riley Advisory Services. Scott Corzine and Duane Lohn join B. Riley Advisory Services to lead a team of experienced risk management practitioners who specialize in business continuity, cybersecurity risk management, crisis management, ERM, and operational resilience.
  • Praesidian Capital Names Tom Duffy as Partner
    February 23, 2021
    Tom Duffy has been with Praesidian Capital for more than eight years. In that time, he has played a key role in investment sourcing, due diligence, structuring and execution. He has also been integral in monitoring the portfolio. Prior to joining Praesidian, Mr. Duffy was formally credit trained at Bank of America, Merrill Lynch through its MBA Credit Leadership Program.
  • Churchill Asset Management Announces 2021 Promotions
    February 23, 2021
    Churchill Asset Management LLC (“Churchill” or the “Firm”), an investment-specialist of Nuveen providing customized financing solutions to private equity firms and their portfolio companies, today announced promotions across the firm. Notably, Randy Schwimmer, Senior Managing Director, Head of Origination and Capital Markets, and Mathew Linett, Senior Managing Director, Head of Underwriting and Portfolio Management, have been named Co-Heads of Senior Lending. The Firm also announced the promotion of Christopher Cox, formally Chief Risk Officer for the senior lending strategy, to Chief Risk Officer for the entire Churchill organization.
  • Adam Chazan Joins Cowen’s Health Care Investment Banking Team
    February 23, 2021
    Cowen Inc. (NASDAQ:COWN) (“Cowen” or the “Company”) today announced that Adam Chazan has joined the Company’s Investment Banking division as a Managing Director with leadership responsibility for the firm’s Tools and Diagnostics banking practice. Mr. Chazan will be based in New York and report to George Milstein, Head of the Health Care Investment Banking Group.
  • Texas Capital Bancshares, Inc. Announces Additional Executive Leadership Appointments
    February 23, 2021
    Texas Capital Bank, N.A., and its parent company Texas Capital Bancshares, Inc. (NASDAQ: TCBI), collectively referred to herein as “Texas Capital Bank,” today announced two additional executive leadership appointments. Tim Storms has been named Chief Risk Officer of both companies, effective immediately following the decision by John Turpen to step down as Chief Risk Officer. Mr. Turpen will continue to support Mr. Storms and the Company until March 31, 2021, to ensure an effective transition. Shannon Jurecka has been appointed to the newly created position of Chief Human Resources Officer, effective April 1, 2021, to advance the Company’s commitment to developing world-class talent and a high-performance culture.
  • Commercial Finance Partners Announces the Closing of 6 New SBA 7a Facilities
    February 23, 2021
    Commercial Finance Partners is pleased to announce the closing of 6 new SBA 7a facilities in 2021. With additional benefits being presented by the SBA, Commercial Finance Partners has seen an uptick in volume for business looking to refinance debt, engage in an acquisition or buyout, purchase real estate, and other capital expenditures.
  • Freeport Financial Expands Lower Middle Market Debt Team with New Appointments
    February 22, 2021
    Freeport Financial Partners, LLC (“Freeport”), a U.S. lower middle market direct lending manager, today announced the appointments of James Colletti and Ryan VanDagens as Associates, responsible for sourcing, structuring, and managing middle-market debt investments for the Freeport loan funds. Both Mr. Colletti and Mr. VanDagens are based in Chicago.
  • First Trust Launches the First Trust TCW Emerging Market Debt ETF
    February 22, 2021
    First Trust Advisors L.P. (“First Trust”), a leading exchange-traded fund (“ETF”) provider and asset manager, announced today that it has launched a new actively managed ETF, the First Trust TCW Emerging Market Debt ETF (NYSE Arca: EFIX) (the “fund”). The fund seeks to provide high total return from current income and capital appreciation by investing in emerging market debt. The portfolio is sub-advised and managed by TCW Investment Management Company LLC (“TCW”).
  • BizCap Delivers $15 Million Multi-Tranche Financing for Top International Bean Processor Distributor and Exporter
    February 22, 2021
    BIZCAP® (Business Capital since 2002) secured a $15MM multi-tranche credit facility for the largest trader, processor and distributor of high quality garbanzo bean (chickpea) products in the U.S. Capitalizing on the surging hummus market, the company was able to quickly grow from a small family owned operation to the leader in this market processing over 98 million pounds of product at its three production plants. The beans are bagged and shipped to all 50 states and 6 continents, to small family owned companies and international food suppliers.
  • TCF Receives Greenwich Excellence Awards for U.S. Middle Market Banking
    February 22, 2021
    TCF’s Middle Market team has been named a winner of the 2020 Greenwich Excellence Award for U.S. Middle Market Banking in two regional categories: Cash Management - Overall Satisfaction (Midwest) and Likelihood to Recommend (Midwest)
  • Arlington Capital Partners Announces Strategic Minority Investment by Goldman Sachs Asset Management
    February 22, 2021
    Arlington Capital Partners (“Arlington”), a leading middle market private equity firm, today announced a passive, non-voting, minority equity investment by Goldman Sachs Asset Management’s (“GSAM”) Petershill program, creating a strategic relationship with one of the world’s leading investment managers and accelerating Arlington’s growth and success.
  • Alexandra Scoggin Joins Sallyport Commercial Finance
    February 22, 2021
    Scoggin previously served as Vice President of Business Development at Goodman Capital Finance. Her role entailed negotiating favorable financing proposals for new business prospects, offering lending options to achieve profitability objectives for the company and maintaining client relations.
  • Stifel Financial Acquires North Atlantic Capital's Future Venture Investment Business
    February 22, 2021
    Stifel Financial (NYSE: SF) today announced an agreement to acquire the future business of North Atlantic Capital Corporation, based in Portland, Maine. The acquisition further positions Stifel as an active manager of small business investment corporations (“SBIC”) and of venture capital (“VC”) funds. In addition to the acquisition, Stifel has made a financial commitment to invest in the next North Atlantic SBIC. North Atlantic has been re-branded North Atlantic Capital – a Stifel Company.
  • Topaz Energy Corp. Announces Credit Facility Expansion and Extension
    February 22, 2021
    Topaz Energy Corp. (TSX: TPZ) ("Topaz" or the "Company") is pleased to announce that it has entered into an amended and restated credit agreement with a syndicate of Canadian banks providing for a $300 million combined operating and syndicated credit facility due February 19, 2024 ("Amended Credit Facility").
  • New York State Extends the Effective Date of its new Financial Disclosure Legislation to January 1, 2022
    February 22, 2021
    New York State has extended the effective date of its new financial disclosure legislation to January 1, 2022 and increased the transaction cap to include lenders making annual advances to borrowers of $2,500,000 or less.
  • North Mill Equipment Finance Promotes Mark Bonanno to President
    February 22, 2021
    North Mill Equipment Finance LLC (“North Mill”), a leading independent commercial equipment lessor located in Norwalk, Connecticut, announced today the promotion of Mark Bonanno to President, Chief Operating Officer effective immediately. Bonanno, a CPA, joined the company as the firm’s Chief Financial Officer in September 2016 and was promoted to Chief Operating Officer in August 2018.
  • Israel Discount Bank Selects Wolters Kluwer’s Compliant E-forms Package
    February 22, 2021
    Israel Discount Bank of New York (IDB Bank) has selected Wolters Kluwer Compliance Solutions’ Deposit E-Forms Module (DEMx) Expansion Pack to help streamline and enhance the management of its document disclosure practices. Providing disclosures is a required and critical function of U.S. banks and credit unions as part of the account opening and servicing process. The Wolters Kluwer DEMx offering allows financial organizations to streamline their documentation processes, help ensure compliance with all regulatory requirements, maximize internal resources, and reduce turnaround times.
  • M&T Bank Buying People's United in $7.6B All-stock Deal
    February 22, 2021
    M&T Bank Corp. is buying People’s United Financial Inc. in an all-stock deal valued at about $7.6 billion. Branches of the two regional banks are sprinkled throughout the Northeast and mid-Atlantic.
  • Retailers to Focus on Long-Term Occupancy Cost Reductions in 2021 Amid Looming ‘Rent Deferral Bubble,’ Advises A&G Real Estate Partners’ Graiser
    February 22, 2021
    Even though capital markets are opening up, U.S. retailers will continue to file for bankruptcy and close stores this year, due in part to their need to repay deferred rent from 2020, warned Andy Graiser, Co-President of A&G Real Estate Partners (A&G), in a conference call hosted by Jefferies, the investment bank and financial services company. Declining foot traffic only adds to that pressure, added the veteran real estate executive, and it is unclear whether mall traffic will bounce back anytime soon.
  • Citizens Hires Peter Ulmer as Managing Director in Transitional Finance
    February 22, 2021
    Citizens today announced that Peter Ulmer will join the bank’s Transitional Finance team as a Managing Director. He will report to Brent Hazzard, head of the Transitional Finance and ABL Group. A 20-year Wells Fargo veteran, Ulmer has extensive experience serving as a trusted strategic and financial partner to corporate clients throughout their business life cycle.
  • Reggie Hedgebeth Joins Capital Group as Chief Legal Officer
    February 22, 2021
    Capital Group, home of American Funds and one of the world’s largest investment management firms, announced today that Reggie Hedgebeth has joined as Chief Legal Officer. Hedgebeth replaces Jim Ryan, who is retiring after 27 years with the firm. Hedgebeth most recently served as executive vice president, general counsel and chief administrative officer for Marathon Oil Corporation. Hedgebeth previously served as general counsel, corporate secretary and chief compliance officer for Spectra Energy Corporation and general counsel for Spectra Energy Partners.
  • LBC Credit Partners Supports the Acquisitions of Diversified Air Systems and Swanson Flo by Motion & Control Enterprises
    February 22, 2021
    LBC Credit Partners (“LBC”), one of the leading providers of financing solutions to middle market companies, provided a senior secured credit facility to support the acquisitions of Diversified Air Systems (“DAS”) and Swanson Flo, Co. (“Swanson Flo”), by Motion & Control Enterprises (“MCE”), a portfolio company of Frontenac. LBC served as Agent for the senior secured credit facility.
  • LQD Business Finance Launches Development of Bitcoin Business Lending Platform
    February 22, 2021
    LQD Business Finance, a leading tech-enabled alternative lender, launches the development of the world’s first Bitcoin business lending platform. This cutting-edge platform will make LQD Business Finance the first company to use Bitcoin as currency for commercial loans.
  • Tiger Group Achieves Record Sales of Pro-Grade Audiovisual Gear in 2020
    February 22, 2021
    Tiger Group’s Commercial & Industrial (C&I) Division posted record sales of pro-grade audiovisual equipment in 2020, due in part to the need for live-event production companies to liquidate excess and underutilized gear as a result of business challenges created by Covid-19.
  • Brightwood Capital Announces 2021 Promotions
    February 18, 2021
    Brightwood Capital Advisors, a leading private credit firm focused on providing capital to growing North American middle-market businesses, today announced its 2021 promotions including Russell Zomback to Chief Financial Officer, Mike Katz to Managing Director, Investments and Chris Malone to Director, Investments.
  • Pitney Bowes Continues Expansion into the Small Business Market, Executing Term Loan with SST Corporation
    February 18, 2021
    Pitney Bowes Inc. (NYSE: PBI), a global technology company that provides commerce solutions in the areas of ecommerce, shipping, mailing and financial services, today announced that the Pitney Bowes Bank has signed a term loan and accompanying revolving line of credit, demonstrating its continued commitment to the small- and mid-market business community. The term loan was signed with pharmaceutical ingredient wholesale distributor SST Corporation (SST) of New Jersey and provides consolidation of existing debt. In addition, a revolving line of credit was extended to help the business compete and grow.
  • Bank Leumi USA Bolsters Presence in Healthcare Space with $23.5M Prestige Care, Inc. Deal
    February 18, 2021
    Bank Leumi USA announced today that it has booked and funded a $23.5M deal with Prestige Care, a third-generation family operator of 80 senior living and rehabilitation centers across eight states in the western United States. The deal includes a significant treasury management relationship for Leumi in the West Coast region.
  • Otterbourg Names Thomas Duignan Co-Chair of Finance Practice Group
    February 18, 2021
    Otterbourg P.C. announced today that Thomas P. Duignan has been named co-chair of the firm’s Finance Department. Mr. Duignan represents many prominent banks, commercial finance companies and other institutional lenders in connection with a wide range of transactions. He will join co-chair David Morse in guiding a financial group at Otterbourg that is firmly established as an industry leader.
  • Solstice Marketing Concepts LLC Files Voluntary Petition under Chapter 11 in effort to Restructure and Improve Financing Options
    February 18, 2021
    The Company has retained Morgan, Lewis & Bockius L.L.P. as its legal counsel, RCS Real Estate Advisors to advise on all store leases, and KCP Advisory Group LLC’s Jacen Dinoff as Chief Restructuring Officer. The Company is seeking financing upon Bankruptcy Court approval to fund ongoing operations during the restructuring process.
  • Katten Pulls in Top Bankruptcy Attorney Skilled at Helping Lenders
    February 18, 2021
    Katten announced today that it has added highly regarded bankruptcy attorney Peter Knight to its Insolvency and Restructuring practice in Chicago, bolstering a national group that has been increasingly in demand as it continues to take on key roles in some of the most noted bankruptcy cases, representing debtors, independent directors, key creditor constituencies and stakeholders in major Chapter 11 and Chapter 15 cases throughout the country.
  • BHI Food & Beverage Group Announces $61 Million in New Financing Transactions
    February 18, 2021
    BHI, a full-service commercial bank, announced that its Food & Beverage Group has arranged a total of $61.6 million in two new financing transactions for clients Teasdale Latin Foods and Resnick Distributors. For Teasdale Latin Foods, BHI provided a revolving line of credit to refinance existing debt and support the working capital needs of the company.
  • Pacific Mercantile Bank Provides $4.0 Million Line of Credit to CRU Data Security Group
    February 18, 2021
    Pacific Mercantile Bank (“the Bank”), the wholly owned subsidiary of Pacific Mercantile Bancorp (NASDAQ: PMBC), today announced that it has provided a $4.0 million revolving line of credit to CRU Data Security Group (“CDSG”), an end-to-end data storage company. The revolving line of credit provided by Pacific Mercantile Bank is part of a debt infusion into CDSG made alongside Merion Partners, a small business investment company. Veber Partners, a regional investment bank and advisor to CDSG, assisted with the acquisition and corporate reorganization.
  • Umpqua Bank Hires Dave Ericksen to Build Upper Middle Market Banking Team
    February 18, 2021
    Umpqua Bank, a subsidiary of Umpqua Holdings Corporation (NASDAQ: UMPQ), announced today the addition of Dave Ericksen to its Pacific Northwest (PNW) middle market banking leadership team as senior vice president and middle market director. Recognized as one of the PNW region's leading corporate bankers, Ericksen strengthens Umpqua's capacity to support the growth and evolution of the region's large middle market companies.
  • Nilendu Saha Joins TAB Bank as Chief Technology Officer
    February 18, 2021
    TAB Bank is pleased to announce the addition of Nilendu Saha to their Executive Leadership team as Chief Technology Officer. Nilendu comes to TAB Bank with over 25 years of experience in building and managing enterprise applications, data analytics platforms, and technology initiatives, and leading large and complex teams. As CTO of TAB Bank, he will be responsible for providing overall executive leadership and strategic direction for the entire Information Technology organization. His arrival at TAB Bank comes at a critical moment, as the bank is positioned to extend its reach into the Fintech marketplace with its Banking-as-a-Service/Open Banking platform and suite of APIs.
  • Gordon Brothers and New Mill Capital Purchase Real Estate and Machinery & Equipment from Packed Bakery Food Producer
    February 18, 2021
    Biddeford Holdings LLC, a partnership between Gordon Brothers, the global advisory, restructuring and investment firm, and New Mill Capital, has acquired the real estate and machinery and equipment of a producer and marketer of packed bakery food. The assets include company-owned real estate and the machinery and equipment in Jacksonville, FL and Opelika, AL in addition to the company’s machinery and equipment at third-party facilities in Franklin, IN; Atlanta, GA; Biddeford, ME; and Rocky Mount, NC.
  • Fifth Third Business Capital Provides New Senior Credit Facility for Consulting Solutions
    February 18, 2021
    Consulting Solutions provides information technology staffing services with an expertise in handling a wide variety of IT projects, including establishing/converting/implementing various ERP and E-commerce platforms, cybersecurity tools and cloud migration. Consulting Solutions was established in 2016 by White Wolf Capital to facilitate a buy-build-hold strategy within the IT consulting and staffing industry.
  • Clear Thinking Group Partners Earn Certified Turnaround Professional (CTP) Designation
    February 18, 2021
    Clear Thinking Group, the award-winning advisory firm, announced today that Partners Joseph Marchese, Patrick Diercks and Brian Allen have earned the Certified Turnaround Professional (CTP) designation by the Turnaround Management Association. The recognition of CTP demonstrates commitment, competency, and expertise in turnaround and restructuring.
  • Hofstra Law Awards 2020-2021 Recipients Of Moritt Hock & Hamroff Fellowship & Marc Hamroff '83 Annual Scholarship
    February 18, 2021
    The Maurice A. Deane School of Law at Hofstra University has named Jeffrey Hassan as the recipient of the 2020-2021 Moritt Hock & Hamroff Business Law Honors Fellowship and Korrine Utting as the recipient of the 2020-2021 Marc Hamroff '83 Annual Scholarship. 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. The Scholarship is awarded to a deserving entering student on the basis of demonstrated academic achievement and/or financial need.
  • First Business Bank Closes $2 Million Factoring Facility to Telecom Consulting Firm
    February 18, 2021
    First Business Bank announces the closing of a $2 million factoring facility by its Accounts Receivable Financing group. The client provides consulting services in the telecommunication sector and is experiencing rapid growth due to the telecom sector’s expansion of 5G services.
  • Dean & DeLuca Completes Financial Restructuring and Successfully Emerges From Chapter 11 With Support From CFGI, Argus Management Corporation and Brown Rudnick LLP
    February 17, 2021
    Dean & DeLuca Completes Financial Restructuring and Successfully Emerges From Chapter 11 With Support From CFGI, Argus Management Corporation and Brown Rudnick LLP On Nov. 25, 2020, the Bankruptcy Court in the Southern District of New York confirmed Dean and DeLuca's Chapter 11 plan. The chain of upscale grocery stores and cafes filed a voluntary petition for relief on March 31, 2020. The Chapter 11 Plan became effective on January 28, 2021.
  • Resideo Announces Successful Completion of Debt Refinancing
    February 17, 2021
    Resideo Technologies, Inc. (NYSE: REZI), a leading global provider of home comfort and security solutions, today announced that the company has completed the refinancing of its senior secured term loan A and term loan B with the net proceeds of a new 7-year, $950 million senior secured term loan B maturing in 2028. The interest rate on the new term loan B is LIBOR + 225 basis points.
  • North Avenue Capital Extends a $50 Million Lifeline Into Rural Alabama Healthcare
    February 17, 2021
    North Avenue Capital (NAC), a leading provider of USDA-backed commercial loans, has provided a record $50 million in debt financing to the Thomasville Regional Medical Center (TRMC), an acute care hospital and medical campus in southwest Alabama. Due to the size of the project, the financing structure consisted of four different loans that will refinance existing debt, provide working capital, and fund the purchase of state-of-the-art medical equipment.
  • Ares Commercial Finance Provides a Senior Secured Revolving Line of Credit to Support the Acquisition of Continental Battery Company
    February 17, 2021
    Ares Commercial Finance announced that it has provided a senior secured revolving line of credit to support the acquisition of Continental Battery Company by H.I.G. Capital, LLC. Headquartered in Dallas, TX, Continental Battery is a distributor of aftermarket batteries, used in a wide variety of applications including electric utility vehicles/golf carts, auto, commercial trucks and recreational vehicles/boats.
  • Comvest Credit Partners Announces Investment in ARCA Holdings
    February 17, 2021
    Comvest Credit Partners (“Comvest”) has acted as Administrative Agent and Sole Lender in providing a $95.0 million Credit Facility (the “Financing”) to ARCA Holdings, a manufacturer of cash automation solutions. The financing was used to repay certain existing debt.
  • eCapital Commercial Finance Provides $750,000 Factoring Facility to Staffing Company
    February 17, 2021
    eCapital Commercial Finance (“eCapital”), a division of eCapital Corp., a leading North American alternative finance provider for small and medium-sized businesses, today announced the issuance of a $750,000 factoring facility to an industrial staffing service provider.
  • Cimpress Amends Credit Facility and Ends Covenant Suspension Period
    February 17, 2021
    “During the height of pandemic-related uncertainty last year, we suspended the financial maintenance covenants associated with our senior secured bank debt to provide flexibility to navigate the pandemic,” said Sean Quinn, executive vice president and chief financial officer. “That flexibility came at the price of taking on expensive second lien debt. We have since proven our ability to deliver solid profits and cash flow despite the significant impact of the pandemic."
  • Jeff Pirhalla Joins Greystone Lending Team
    February 17, 2021
    Greystone, a leading national commercial real estate finance company, announced that Jeff Pirhalla has joined as a Director for the firm’s Agency lending platform. In this role, Mr. Pirhalla will focus on bank correspondent and lending relationships intended to drive volume for Greystone’s industry-leading small loans and overall Agency lending platforms. Mr. Pirhalla comes to Greystone after five years at CBRE, where he founded the Wholesale and Bank Correspondent Lending divisions.
  • Global Private Equity Partners Arranges New $195MM Revolving Credit Facility for Medical Equipment Manufacturer
    February 17, 2021
    Medical Equipment Manufacturer secured a new $195 million revolving credit facility from Global Private Equity Partners. Effective immediately, the new credit facility replaced the Company’s existing $70 million credit facility which was comprised of five term loans. Terms of the new senior secured credit facility include a ten-year term, no amortization, and an Adjusted LIBOR Rate plus an interest rate range based on market conditions, and the Company’s Total Leverage Ratio as defined in the Credit Agreement.
  • Goodfood Announces $21 Million Expansion of its Syndicated Bank Financing to Further Increase its Financial Flexibility
    February 17, 2021
    Goodfood Market Corp. (“Goodfood'' or “the Company”), a leading online grocery company in Canada, announced the expansion of its credit financing by $21 million for total credit facilities of $67 million, including the upsize of its revolving credit facility by $15 million to reach $42.5 million, and $6 million in additional short-term financing. The financing transaction sees the Canadian Imperial Bank of Commerce join Desjardins Capital Markets and Investissement Québec as part of the syndicate.
  • John Thompson Joins United Community Bank
    February 17, 2021
    John Thompson was recently named United Community Bank’s middle market and asset-based lending division manager. He has more than 25 years of banking experience. He has served as a middle market relationship manager for United since 2011.
  • Blank Rome Welcomes Leading Finance Partner Anthony R. Callobre in Los Angeles
    February 17, 2021
    Blank Rome LLP is pleased to announce that Anthony (“Tony”) R. Callobre has joined the firm as a partner in its Finance, Restructuring, and Bankruptcy practice group and Financial Services industry group in the Los Angeles office. Tony represents lenders and borrowers in commercial loan transactions, with a particular focus on asset-based lending and fund finance. He joins Blank Rome from Buchalter where he was a shareholder.
  • Stenn Closes $2,000,000 Receivables Finance Program for Seafood Importer in Canada
    February 17, 2021
    Stenn International has closed a seven-figure trade receivables finance program for a trading company based in Canada that sources seafood from the Asia-Pacific region. This financing program is being used to free up working capital to support sales expansion during the coronavirus outbreak. With stay-at-home guidelines in place, people are stocking up on supplies and eating more at home. Large and small grocers alike have seen a spike in demand.
  • Western Alliance to Acquire AmeriHome, a Leading National B2B Mortgage Acquirer & Servicer
    February 17, 2021
    Western Alliance Bancorporation (“Western Alliance”) (NYSE: WAL) today announced the execution of a definitive agreement to acquire Aris Mortgage Holding Company, LLC, the parent company of AmeriHome Mortgage Company, LLC (“AmeriHome”) for an estimated purchase price of $1.0 billion in cash, subject to adjustments at closing. AmeriHome brings a B2B approach to the mortgage ecosystem through its relationships with over 700 independent correspondent mortgage originator clients, including independent mortgage bankers, community and regional banks, and credit unions of all sizes.
  • Encina Lender Finance Provides Inaugural Senior Credit Facility to Doc2Doc Lending
    February 17, 2021
    Encina Lender Finance, LLC (“ELF”) announced today that it has provided an inaugural senior credit facility to Doc2Doc Lending, Inc., which is a consumer lending platform focused on doctors. The facility will be used by Doc2Doc to further scale its origination of new loan volume.
  • Commercial Credit Group Inc. Closes $327,821,000 Term ABS (2021-1)
    February 17, 2021
    Commercial Credit Group Inc. (CCG), an independent commercial equipment finance company, today announced the closing of a 144a privately-placed term asset-backed security (ABS) transaction (the 2021-1 transaction). The $327,821,000 financing was placed with a broad group of fixed income investors, representing 23 unique institutions. Wells Fargo Securities served as Structuring Agent and Lead Bookrunner for the placement. The financing contracts supporting the security consist of a diverse pool of CCG’s customer contract originations in the construction, fleet transportation, manufacturing and waste equipment industries.
  • Citizens Advises Bionix Development Corporation on its Recapitalization by Argosy Private Equity
    February 17, 2021
    Citizens M&A Advisory announced today that it served as the exclusive M&A advisor to Bionix Development Corporation on its recapitalization by Argosy Private Equity. Bionix, headquartered in Toledo, Ohio, is a leading developer of innovative healthcare products for single-use ear, nasal and wound care applications, among others. Co-founded in 1984 by Drew Milligan, Ph.D., and Jim Huttner, M.D., Ph.D., Bionix produces its products in the United States and is trusted by physicians throughout the care continuum for developing premium products that set innovation, quality and performance standards.
  • Holland & Knight Adds Financial Services Attorney Kevin Gooch in Atlanta
    February 17, 2021
    Kevin Gooch has joined Holland & Knight's Atlanta office as a partner in the firm's Financial Services Practice Group. Mr. Gooch represents financial institutions, corporate borrowers and private equity funds in complex finance and restructuring transactions. He previously was a partner at DLA Piper LLP (US).
  • Compute North Announces $25M in Growth Capital Funding
    February 17, 2021
    Compute North, an industry leader in economical, large-scale computing infrastructure and cryptocurrency mining, announced this week that it has closed its next growth capital round of $25 million in debt financing and equity to expand capacity and enable further growth. With more than 920 PH/s under management, the company expects to see that nearly double with the upcoming development.
  • Otterbourg Promotes Erik Weinick and Chad Simon to Members of the Firm
    February 17, 2021
    Otterbourg P.C. announced today that Erik B. Weinick and Chad B. Simon have been promoted to Members of the firm. A member of Otterbourg’s Bankruptcy and Litigation Groups, Mr. Weinick is also co-founder of the firm’s Privacy & Cybersecurity practice. He has represented a wide range of commercial and financial firms, entrepreneurs, individuals, as well as domestic and foreign government agencies before regulators, state and federal courts, and alternative dispute resolution tribunals.
  • Strategic Venue Partners (SVP) Closes New Credit Facility with TD Securities For Wireless Infrastructure Development
    February 17, 2021
    Strategic Venue Partners (SVP), the leading provider of in-building wireless connectivity-as-a-service, has successfully closed a new Senior Secured Credit Facility with TD Securities as lead left arranger and bookrunner on the financing. The facility will be used to fund future wireless infrastructure development with new and existing venue customers. The new commercial lending facility closed on Jan. 26, 2021.
  • Ares Management Corporation Highlights Fourth Quarter and Full Year U.S. Direct Lending Commitments
    February 17, 2021
    Ares Management Corporation (NYSE: ARES) is providing details on certain new financing commitments made across its U.S. direct lending strategies. Funds managed by Ares Management Corporation’s Credit Group (collectively “Ares”) closed approximately $7.3 billion in commitments across 68 transactions during the fourth quarter and approximately $13.7 billion in commitments across 163 transactions for the full year 2020.
  • Fridolf Hanson joins White Oak Commercial Finance as Managing Director in New York
    February 17, 2021
    White Oak Commercial Finance ("White Oak") is pleased to announce the hiring of Fridolf Hanson as a Managing Director and Business Development Officer of its expanded ABL and Lender Finance platform. This is one of three new senior BDO positions created to join the existing five-member Originations team, which focuses on sourcing transactions with committed capital needs ranging from $15 - $250 million. He will report to Vice Chairman, Andrew McGhee.
  • First Horizon Business Credit Provides $35 Million Line of Credit to Standard Premium Finance Management Corporation
    February 16, 2021
    First Horizon Business Credit, the ABL Division of First Horizon Bank, provided a $35MM Line of Credit to Standard Premium Finance Management Corporation, a Florida-based premium finance company. The Facility is secured by accounts receivable and offers the Company additional flexibility for its ongoing growth.
  • Pathway Capital Corp. Closes $7 Million Revolving Credit Facility for New Jersey Logistics Company
    February 16, 2021
    Glenn Thomas, president of Pathway Capital Corp., announced that his firm closed a $7 million senior secured revolving credit facility to a regional trucking and warehousing company in northern New Jersey. Pathway acted as the sole arranger. The revolving line of credit is collateralized by accounts receivable and inventory, and is being used by the logistics company to finance its ongoing working capital needs.
  • Third Coast Midstream Completes Successful Debt Refinancing
    February 16, 2021
    Lighthouse Infrastructure, LLC ("Lighthouse"), a wholly owned subsidiary of Third Coast Midstream, LLC ("Third Coast"), has entered into a new five-year credit agreement consisting of a term loan facility in the initial aggregate principal amount of $490 million and a $60 million revolving credit facility ("Facility"). The proceeds of the Facility are being used to redeem the outstanding Third Coast 2021 notes, repay borrowings under Third Coast's prior credit facility, and for general Lighthouse corporate purposes.
  • Haversine Funding Announces New Transactions
    February 16, 2021
    Haversine Funding announced the following recently closed transactions: $750,000 of a $1,500,000 factoring participation to finance a ‘do it yourself’ home automation and security product manufacturer; $3,000,000 subordinated debt facility to support the growth of a residential real estate lender for loans that may be held for sale or investment and $4,000,000 of an $8,000,000 purchase order and factoring participation for a PPE transaction to deliver masks to a national retailer.
  • LSQ Delivers $10MM to Growing Amazon Vendor
    February 16, 2021
    LSQ recently originated a $10 million factoring credit facility within an expedited timeline for a thriving Amazon vendor. The business, which reported 2x year-over-year sales growth, experiences seasonal boosts in demand for their numerous fitness, health, and recreational products. By leveraging invoice financing to increase working capital, the vendor will now have sufficient liquidity to more strategically capitalize on seasonal opportunities and also expedite payments to suppliers without narrowing their cash position.
  • eCapital Commercial Finance Provides $750,000 Factoring Facility to Staffing Company
    February 16, 2021
    Recently, demand in the industrial space has grown. As a result, this staffing company began to enter into a period of accelerated growth, acquiring contracts and significantly expanding its business. The staffing company turned to eCapital for a financing solution that could support this increase in demand and provide the funding it needed, enabling the company to grow at a faster pace.
  • Jake Mincemoyer Joins Allen & Overy as Head of U.S. Leveraged Finance Practice
    February 16, 2021
    Allen & Overy today announced that Jake Mincemoyer has joined the firm as partner and head of A&O’s U.S. Leveraged Finance practice, based in New York. Jake joins A&O from White & Case LLP, where he served as regional section head of the Americas Banking Section. Jake has broad experience representing major commercial and investment banks as well as private credit funds and corporations in a wide range of leveraged and corporate finance transactions, including domestic and cross-border acquisition finance, investment-grade facilities, asset-based lending facilities, bridge facilities, debtor-in-possession (DIP) financings and restructurings.
  • Huron Capital Names Jim Mahoney Managing Partner Alongside Brian Demkowicz
    February 16, 2021
    Huron Capital Partners LLC ("Huron Capital"), a leading lower middle-market private equity platform with a 22-year history and six private equity funds aggregating nearly $2.0 billion in committed capital, announced today that Jim Mahoney has been named Managing Partner alongside Brian Demkowicz as part of a management succession plan designed to strengthen the foundation for the Firm's continued success.
  • Pandemic Continues to Bring Increases to Chapter 11 Filings, Q4 Highlights
    February 16, 2021
    The continued acceleration in Chapter 11 filings is a clear sign that business owners should prepare for the pandemic’s impact to last longer than was originally planned, even as the COVID-19 vaccine becomes more available. Chapter 11 bankruptcy filings increased again in the fourth quarter, as seen in the newest Polsinelli-TrBK Distress Indices Report.
  • Pathway Capital Corp. Arranges $3.5 Million Loan for Texas-based Company
    February 16, 2021
    Pathway Capital Corp. has closed on a $3.5 million non-notification factoring facility for a startup specialty hauling company based outside of Houston, Texas. Pathway acted as sole arranger. The facility—which was vital to the company’s launch—provided a 90% advance on receivables purchased as well as 120-day terms on numerous accounts.
  • Gibraltar Provides $5MM in Stable Liquidity for Socially Conscious Innovator
    February 16, 2021
    Cora, a provider of ethically sourced, organic, and innovative feminine hygiene products, and Gibraltar agreed on a $5 million asset-based line of credit based on accounts receivable and inventory. The inventory borrowing base includes finished goods and in-transit inventory with no inventory appraisal required which reflects the creativity of Gibraltar’s credit team. An accordion feature allows the facility to be increased to $7 million as warranted.
  • Armory Securities, LLC Announces that Uniformity Labs has Completed a $38.35 Million Series B Financing Round
    February 16, 2021
    Armory Securities, LLC is pleased to announce that Uniformity Labs has completed a $38.35 million Series B financing round. Armory served as exclusive financial advisor and placement agent to Uniformity for the transaction. Uniformity is a leading additive manufacturing (AM) company that is revolutionizing industrial 3D printing processes with its breakthrough material and software solutions. The company’s patented technology enables significant cost savings, speed, and quality improvements across all mainstream AM printers.
  • TAB Bank Provides Aluminum Extrusion Manufacturing Company in Ohio with a $12 Million Asset-Based Credit Facility
    February 11, 2021
    TAB Bank is pleased to announce it has provided a $12 million asset-based credit facility for an aluminum extrusion manufacturing company based in Ohio. The facility is based on a multi-year agreement and will provide for the company’s ongoing working capital needs. The company produces a wide range of standard and custom designed aluminum extrusions in several grades of aluminum alloys and tempers.
  • Oil States Enters into New Bank Credit Agreement
    February 11, 2021
    Oil States International, Inc. (NYSE:OIS) announced today that it has entered into a new $125 million asset-based revolving credit agreement (the "Credit Agreement"). Wells Fargo Bank, National Association is the administrative agent for the Credit Agreement. In addition to Wells Fargo, lenders under the Credit Agreement include Bank of America, National Association, JPMorgan Chase Bank, N.A. and Royal Bank of Canada.
  • Strategic Venue Partners (SVP) Closes New Credit Facility with TD Securities For Wireless Infrastructure Development
    February 11, 2021
    Strategic Venue Partners (SVP), the leading provider of in-building wireless connectivity-as-a-service, has successfully closed a new Senior Secured Credit Facility with TD Securities as lead left arranger and bookrunner on the financing. The facility will be used to fund future wireless infrastructure development with new and existing venue customers. The new commercial lending facility closed on Jan. 26, 2021.
  • CIBC Innovation Banking Announces $33 Million Comprehensive Financing Solution for Bloomerang, Inc.
    February 11, 2021
    CIBC Innovation Banking is pleased to announce a growth capital facility for Indianapolis-based Bloomerang, Inc. (“Bloomerang”). Bloomerang plans to use the capital for its recent acquisition of Nashville, TN-based Kindful, Inc. (“Kindful”), and to continue its growth momentum.
  • Ramp Announces $150M in Debt Financing from Goldman Sachs
    February 11, 2021
    Ramp today announced $150 million in debt financing from Goldman Sachs to fuel growth for Ramp, a corporate card focused on helping businesses spend less money and automate their finances. Goldman Sachs Bank USA provided the credit line to Ramp. The news follows the appointment of Srinath Srinivasan as Head of Risk at Ramp last month. Srinivasan previously worked at Goldman Sachs and was deeply involved with developing credit underwriting for the Apple Card. Earlier this year, Nik Koblov also joined Ramp to lead Risk and Underwriting Engineering. Before joining Ramp, Koblov served as the VP of Engineering at Affirm and as a Vice President in Credit Technology at Goldman Sachs.
  • CIT Serves as Co-Lead Arranger on $93.3 Million Battery Storage Portfolio
    February 11, 2021
    CIT Group Inc. (NYSE: CIT) today announced that its Power and Energy business served as a co-lead arranger on a $93.3 million financing for a portfolio of six battery energy storage systems located in Texas. The battery energy storage systems (BESS) are owned by Key Capture Energy LLC, a leading developer, owner and operator of BESS projects in the United States, with an overall development pipeline of more than 2.5 gigawatts in New York, Texas and New England. Key Capture Energy is a portfolio company of sustainable real asset firm Vision Ridge Partners.
  • Great Rock Capital Provides $25MM of Liquidity to Industry Leading Automotive Manufacturer
    February 11, 2021
    Great Rock Capital, an asset-focused commercial finance company specializing in middle market lending, today announced it has provided $25.0 million of liquidity through a senior secured term facility to support a Michigan-based critical sole-source supplier of automotive products. The facility was used to refinance the company’s existing lender and will provide additional working capital and financial flexibility to support the Company’s continued growth.
  • Citizens Advises Thought Logic Consulting on its Significant Growth Capital Investment by Renovus Capital Partners
    February 11, 2021
    Citizens M&A Advisory served as the exclusive financial advisor to Thought Logic Consulting, a leading business and technology transformation consulting firm with offices in Atlanta, GA, and Richmond, VA, on its significant growth capital investment from Renovus Capital Partners, a Philadelphia-area private equity firm. The partnership with Renovus will help Thought Logic make additional investments in its team and capabilities, accelerate its planned geographical expansion and seek industry partnerships and acquisitions.
  • Frozen, Refrigerated and Dry Food Products from Leading Cruise Industry Supplier to be Auctioned by Tiger Group on Feb. 23
    February 11, 2021
    Tiger Group is offering over $11 million (at retail) in commercial foods in a Feb. 23 online auction of the remaining inventory from cruise industry supplier Kansas Marine Co.’s soon-to-close Miami distribution center. The offering features over 40 million pieces of consumable food items, including frozen products, canned goods, proteins, dry food products and bonded items.
  • U.S. Bank Appoints Marcus Martin Head of ESG for Fixed Income & Capital Markets
    February 11, 2021
    U.S. Bank announced today the appointment of Marcus Martin as managing director and head of Environmental, Social, Governance (ESG) for its Fixed Income & Capital Markets business. In his new role, Martin will be responsible for expanding the bank’s Sustainable Capital Markets activities, providing issuer and investor clients with a full range of options to address their ESG needs, including Green Bonds.
  • Potbelly Corporation Announces $16 Million Private Placement and Agreement to Amend Credit Facility
    February 11, 2021
    Potbelly also announced that it has reached an agreement in principle with its lender, JP Morgan, to amend its existing senior secured revolving credit facility. Upon execution of the amendment, Potbelly is expected to have a senior secured revolving credit facility of $25 million that matures on January 31, 2023.
  • Velocity Financial, Inc. Announces New $175 Million Term Loan Facility and $200 Million Warehouse Facility
    February 10, 2021
    Velocity Financial, Inc. (NYSE: VEL), (“Velocity” or the “Company”), a leading provider of small balance investor loans, today announced that it has entered into a new $175 million, 5-year term loan with a syndicate of lenders including funds managed by Blackrock’s U.S. Private Capital group, Oaktree Capital Management, L.P., and UBS O’Connor.
  • SWM Announces Amendment to Existing Credit Facility Including $350 Million Term Loan B to Finance Proposed Offer to Acquire Scapa Group Provides Preliminary Results for Fourth Quarter and Full Year 2020
    February 10, 2021
    JPMorgan Chase Bank, N.A. is acting as administrative agent for the amended credit agreement, and JPMorgan Chase Bank, N.A., BofA Securities, Inc., Barclays Bank PLC and Truist Securities, Inc. are acting as joint bookrunners and joint lead arrangers. The Company has commenced the syndication of the Term Loan B, which is expected to be completed during the week of February 22nd, 2021. Certain terms of the Term Loan B remain subject to market conditions and completion of the syndication.
  • Ocwen Financial Announces Agreement With Oaktree for Additional $250 Million Investment and Preliminary Fourth Quarter Results
    February 10, 2021
    Ocwen Financial Corporation (NYSE: OCN) (“Ocwen” or the “Company”), a leading non-bank mortgage servicer and originator, today announced it has executed an agreement with special purpose entities owned by funds and accounts managed by Oaktree Capital Management, L.P. (“Oaktree”) for a debt investment in the Company that would generate $250 million in proceeds, and provided preliminary information regarding its fourth quarter 2020 results.
  • CCA Industries, Inc. Announces Entering Into A $5,000,000 Credit Facility
    February 10, 2021
    CCA Industries, Inc. (OTC: CAWW), announced that it has entered into a new credit facility with M&T Bank, on January 21, 2021 to replace the line of credit with PNC Bank and for general working capital purposes. The credit facility provides a term loan in an amount of $500,000 (the "Term Loan") and a revolving loan up to a maximum of $4,500,000 (the "Revolving Loan" and together with the Term Loan, the "Loans").
  • Bardin Hill Raises $600 Million for Opportunistic Credit Strategy
    February 10, 2021
    Bardin Hill Investment Partners LP (“Bardin Hill”), a leading investment management firm specializing in credit strategies and event-driven equities, today announced the successful final close of the Bardin Hill Opportunistic Credit Fund, LP and a parallel side-car vehicle (collectively, the “Strategy”) with total commitments of approximately $600 million. The firm’s flagship closed-end Strategy received significant backing from new institutional investors globally, as well as from existing Bardin Hill clients.
  • Carl Marks Securities Advises Life Sciences Consultancy Hawkins Point on Sale to Verista
    February 10, 2021
    Carl Marks Securities LLC, an affiliate of middle market investment bank Carl Marks Advisors, served as financial advisor to Hawkins Point in the sale of the leading life sciences consultancy to Verista, a transformative compliance and automation solutions organization for the life sciences industry. Financial terms of the private transaction were not disclosed. Founded in 2012 by Heather Morris Kyer and Steve Mersky and based in Boston, Hawkins Point focuses on helping clients solve challenges across the entire life sciences continuum, from early-stage research to full commercial operations and beyond.
  • Sterling National Bank Provides $2 Million of Senior Secured Credit Facilities
    February 10, 2021
    Sterling National Bank's Commercial Services Group provided senior secured credit facilities totaling $2,000,000 to Callisto Home NY, Inc. Established in 2009 and located in East Brunswick, NJ, Callisto is an importer of home furnishings with a market focus on bedding, draperies, curtains, decorative pillows, and shams.
  • Black Olive Closes $1.5MM Inventory Loan to Amazon Seller
    February 10, 2021
    Black Olive recently provided an inventory revolving line of credit in the amount of $1.5MM to a business selling through an e-commerce platform. The Borrower manufactures and sells products in the HVAC industry. The Borrower generates most of its revenues by selling on e-commerce platform, Amazon.
  • CIT Arranges $10.1 Million Loan for Nebraska Office Building
    February 10, 2021
    CIT Group Inc. (NYSE: CIT) today announced that its Middle Market Banking business arranged $10.1 million in financing for construction of a new owner-occupied office building in Fremont, Nebraska. The borrower, WLG Fremont LLC, will use the financing to construct a 54,000-square-foot office building to serve as the new headquarters for RTG Medical, a veteran-owned healthcare staffing agency supporting medical facilities nationwide.
  • Business Capital Delivers $15 Million in Secured Credit Facilities to West Coast Leader in Traffic Control Systems
    February 10, 2021
    BIZCAP® (Business Capital Since 2002) structured and delivered a $15MM asset-based revolving credit facility in addition to an owner-user real estate financing package from syndication participants to one of the largest providers of temporary traffic control services on the west coast. The Company is engaged primarily with major utility companies, municipalities, and construction firms to ensure a safe work environment with signage, vehicles, equipment and staff, both in rural and urban settings. The new credit facilities will provide working capital and enable continued investment in technology, systems and infrastructure to improve operations and support growth.
  • Cahill Announces New Partner Elections
    February 9, 2021
    Cahill Gordon & Reindel LLP announced today that Patrick Gordon and Stephen Harper have been elected to the partnership in Cahill's New York office. In addition, the Firm announced that Prudence Criddle and Warren Newton have joined its London office as partners.
  • Pinnacle Capital Finance Provides a $4 Million Line of Credit to a Southern California Energy and Environmental Service Provider
    February 9, 2021
    Pinnacle Capital Finance is proud to announce the issuance of a $4MM asset-based line of credit to a veteran owned, Southern California based energy service provider. The company provides engineering & consulting services to various sectors, including oil, natural gas, rail, highway infrastructure, public supported projects as well as international, federal, state and local governments.
  • Belk Reaffirms Its Plan to Complete a "Pre-Packaged, One Day" Reorganization
    February 9, 2021
    Kirkland & Ellis LLP is serving as legal adviser, Lazard is serving as financial adviser, and Alvarez & Marsal North America, LLC is serving as restructuring adviser to Belk. Latham & Watkins LLP is serving as legal advisor to Sycamore Partners. Willkie Farr & Gallagher LLP is serving as legal advisor and PJT Partners LP is serving as financial advisor to the Ad Hoc Crossover Lender Group and O'Melveny & Myers LLP is serving as legal advisor and Evercore is serving as financial advisor to the Ad Hoc First Lien Lender Group.
  • Cineplex Announces Amendment to Credit Facility
    February 9, 2021
    Cineplex Inc. ("Cineplex" or the "Company") (TSX: CGX) announced today that it has entered into a third amendment (the "Third Amendment") to the seventh amended and restated credit agreement with its lenders. The Third Amendment provides for, among other things, the continued suspension of financial covenant testing until the fourth quarter of 2021 upon certain conditions being met, including completion of a minimum $200 million financing by the Company of second lien secured notes on or prior to March 31, 2021 with a maturity of at least five years.
  • Ortho Clinical Diagnostics Amends Credit Agreement to Extend Maturity and Increase Borrowing Capacity Under its Revolving Credit Facility
    February 9, 2021
    Ortho Clinical Diagnostics Holdings plc (Nasdaq: OCDX) ("Ortho"), one of the world's largest pure-play in vitro diagnostics companies, today announced that certain of its subsidiaries successfully amended their June 30, 2014 credit agreement (the “Credit Agreement”) on February 5, 2021. The amendment increases the revolving credit facility under the Credit Agreement by $150 million to an aggregate amount of $500 million and extends the maturity date to February 26, 2026, provided that such date may be accelerated subject to certain circumstances.
  • Playa Hotels & Resorts N.V. Announces Amendments of Credit Facilities, Extension of Revolving Credit Facility Maturity and Extension of Covenant Relief Periods
    February 9, 2021
    Playa Hotels & Resorts N.V. (NASDAQ: PLYA) (the "Company") today announced that it has entered into amendments to its credit agreements with its senior secured credit facility lenders to, among other things, refinance and extend the maturity of a portion of its revolving credit facility and extend until March 31, 2022 the period during which the secured net leverage ratio requirements of the financial covenants in the credit agreements are replaced with a minimum liquidity test. The Company entered into the Fifth Amendment to its Amended & Restated Credit Agreement (the "Fifth Amendment") with Deutsche Bank AG New York Branch, as Administrative Agent and lender
  • Encina Lender Finance Provides $25 Million Senior Credit Facility to Lago Innovation Fund I, L.P.
    February 9, 2021
    Encina Lender Finance, LLC (“ELF”) announced today that it has provided a $25 million senior credit facility to an affiliate of LAGO Innovation Fund I, L.P. (“LAGO”), which provides venture debt financing to a range of high-growth companies participating in the “Innovation Economy”.
  • Hedaya Capital is Pleased to Announce a Factoring Facility for a Wisconsin Paper Mill Projected to do $45 Million in Sales in 2021
    February 9, 2021
    Hedaya Capital is pleased to announce a Factoring and Inventory Facility provided to a well-known Wisconsin paper mill purchased by an investor and management group. Due to the impact of Covid-19 on its business, the mill struggled to stay afloat and abruptly closed, laying off over a hundred workers. Things turned around when a new buyer emerged and Hedaya Capital was able to provide flexible financing to support the venture. The mill produces paper products used in the manufacturing of corrugated boxes and for other commercial applications.
  • Citizens Advises Candid Partners on its Sale to McKinsey & Company
    February 9, 2021
    Citizens M&A Advisory announced today that it served as the exclusive financial advisor to Candid Partners, a leading tech-enabled, multi-cloud consulting firm, on its sale to McKinsey & Company, a global management consulting firm. Founded in 2013 in Atlanta, Candid is the largest independent dedicated cloud consulting firm in the United States. The company has deep, technical expertise across Amazon Web Services, Microsoft Azure and Google Cloud Platform.
  • SG Credit Partners Provides $6 Million Guarantor Based Loan
    February 9, 2021
    SG Credit Partners provided a $6 million guarantor-based loan for a single-asset real estate holding company operating as a subsidiary of a broader multi-family / student housing real estate syndication portfolio. The Company needed capital quickly to execute on additional portfolio purchases and support working capital at the parent level, where COVID-19 restrictions had temporarily affected occupancy rates at some of the student housing assets.
  • Eastland Shoe Corp. Secures $5 Million Credit Facility from Cambridge Savings Bank
    February 9, 2021
    Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and more than $5 billion in assets, today announced it has recently extended a new credit facility for Freeport, Maine-based Eastland Shoe Corp. By taking the time to understand the company’s unique needs and challenges, CSB’s Asset-Based Lending team created a custom solution for Eastland that will enable the company to refinance existing debt, as well as provide additional liquidity that the company will utilize to support multiple growth initiatives.
  • Splitit Secures $150M Facility from Goldman Sachs
    February 8, 2021
    Splitit Payments Limited (“Splitit” or the “Company”) (ASX:SPT), a global payment solutions provider, announces that it has signed a US$150 million receivables funding facility with Goldman Sachs Bank USA to support the expansion of its business. The new three-year revolving facility complements the Company’s strong balance sheet and is a key element of its growth and capital management strategies for 2021 and beyond. The facility is lower cost than Splitit’s existing funding and its use is expected to increase Splitit’s gross margins over time.
  • AECOM Amends and Extends its Credit Facility and Links Borrowing Cost to Sustainability and Diversity Goals
    February 8, 2021
    AECOM (NYSE:ACM), the world’s premier infrastructure consulting firm, today announced that it has executed an amendment to its existing senior secured credit facilities. The amendment extends the maturity of the facilities to 2026 and reduces the Company’s borrowing costs, which is aligned with the needs of the Professional Services business. The amended facilities consist of a $1.15 billion revolving credit facility and a $247 million Term Loan A U.S. facility.
  • QueensGiant Advises on $55 Million Senior Credit Facility for Consumer Lease Company
    February 8, 2021
    QueensGiant, a specialty boutique investment bank focused on Lender Finance and Fintech, announced it help arrange a $55 million senior credit facility for a purchase finance company. This new facility will help refinance existing debt as well as offer increased capacity to finance consumer purchases at the point-of-sale.
  • Oxford Finance Provides $23.5 Million Credit Facility to Prosper Life Care
    February 8, 2021
    Oxford Finance LLC (“Oxford”), a specialty finance firm that provides senior debt to healthcare services and life sciences companies worldwide, today announced the closing of a $23.5 million senior credit facility and revolving line of credit to Prosper Life Care Inc. ("Prosper Life" or “the Company), a management company with over three decades of combined experience in healthcare, Prosper Life specializes in assisted living and memory care.
  • Armstrong Teasdale Adds Over 50 Lawyers and Staff in London
    February 8, 2021
    Armstrong Teasdale proudly announces the acquisition of London firm Kerman & Co., effective Feb. 5, 2021. The addition of over 50 lawyers and staff bolsters Armstrong Teasdale’s roster to over 340 lawyers and over 300 staff professionals around the world.
  • Summit Hotel Properties Successfully Completes Credit Facility Amendments To Extend Covenant Waiver Period and Enhance Flexibility
    February 8, 2021
    Summit Hotel Properties, Inc. (NYSE: INN) (together with its consolidated subsidiaries, the "Company") today announced that it has amended the credit agreements for its $400 million revolving credit facility and three senior term loans totaling approximately $550 million to enhance overall flexibility and extend the financial covenant waiver period through March 31, 2022, unless terminated earlier at the Company's option.
  • Kayne Anderson NextGen Energy & Infrastructure Enters Into $50 Million Revolving Credit Facility
    February 8, 2021
    Kayne Anderson NextGen Energy & Infrastructure, Inc. (the “Fund”) (NYSE: KMF) announced today that it has entered into a $50 million unsecured revolving credit facility (the “Credit Facility”) with a syndicate of lenders. The Credit Facility matures on February 25, 2022. The Credit Facility replaces the Fund’s $75 million unsecured revolving credit facility that was scheduled to mature on February 8, 2021.
  • Huntington Business Credit Closes Credit Facilities with GNS North America, Inc.
    February 8, 2021
    Huntington Business Credit announced it closed new $30,000,000 credit facilities with GNS North America, Inc on December 31, 2020. Proceeds of the facility were used to refinance existing indebtedness and to provide ongoing working capital growth financing.
  • North Avenue Capital Provides More Than $130 Million in USDA Loans to Help Revitalize Rural America in 2020
    February 8, 2021
    Within the past year, the United States Department of Agriculture (USDA) invested a record $40 billion in rural communities. With considerable investments made to help bolster local economies in rural America, North Avenue Capital (NAC), a specialized commercial lender, was instrumental in providing over $130 million in USDA-backed loans to their clients across the United States.
  • January 2021 Bankruptcy Filings Continue Historic Slide
    February 8, 2021
    Epiq, a global technology-enabled services leader to the legal services industry and corporations, released its January 2021 bankruptcy filing statistics from its AACER bankruptcy information services business. January experienced the lowest monthly number of new bankruptcy filings across all chapters since February 2006 (26,617 filings) with only 32,298 filings. The continued slide represents a decrease of 6% over December 2020 filings, and a 44% decrease over January 2020 filings where there were 58,161 new cases. Commercial filings across all chapters fell to 2,124 new cases, a 7% drop over December 2020 and a 42% drop over January 2020, which had a total of 3,560 new cases.
  • Magnite to Acquire SpotX; Deal Creates Largest Independent CTV & Video Advertising Platform
    February 8, 2021
    Magnite plans to finance the transaction with cash on hand, 14 million shares issued to RTL Group and committed financing from Goldman Sachs. The company expects the transaction to close in the second quarter of 2021, subject to receipt of regulatory approvals and satisfaction of customary closing conditions. Until the transaction closes, both companies will continue to operate independently. Goldman Sachs and LUMA Partners acted as financial advisors to Magnite and Goldman Sachs is providing committed financing for the transaction. Gibson Dunn provided legal counsel to Magnite.
  • A&G Offers Distribution Center and Two Big-Box Stores Slated to Close As Part of Stock+Field Bankruptcy
    February 8, 2021
    A&G Real Estate Partners is offering a distribution center and two big-box stores slated to close as part of the Stock + Field bankruptcy. The 57-year-old retailer is currently liquidating all 25 of its stores across the Midwest. Located in Illinois, Michigan and Wisconsin, the three fee-owned properties are available for sale or lease, noted Emilio Amendola, Co-President of A&G, which was retained by the entities that own the sites. “These high visibility commercial and industrial real estate assets represent an excellent opportunity for both users and investors,” he said.
  • Gibraltar Provides $20MM Acquisition Financing to Sponsor-Backed Farm Supply Company
    February 8, 2021
    GBC has created a reputation as the preferred ABL partner to private equity groups. This is due to its ability to support fast-moving acquisition and growth opportunities, while having the unique ability to structure transactions that benefit the interests of all parties involved. That’s why, when CriticalPoint Capital needed acquisition financing support, GBC was the natural fit. CriticalPoint Capital is a Los Angeles-based operationally focused private equity firm specializing in corporate divestitures, companies in transition and special situations
  • GoldenTree Asset Management Raises $725 Million in Commitments for Second CLO Strategy
    February 8, 2021
    GoldenTree Asset Management ("GoldenTree"), a global credit manager, announced the closing of $725 million in commitments on a second CLO strategy ("GLM II") as part of its GoldenTree Loan Management ("GLM") program. GoldenTree previously raised $600 million in 2016 for the first vintage of the strategy.
  • First Business Bank Promotes Chris Doering and Melissa Fellows to Senior Vice President
    February 8, 2021
    Doering has 15 years of commercial banking experience serving primarily family businesses and closely held companies of all sizes with an emphasis on construction, manufacturing/distribution, and service organizations. Fellows has more than 20 years of banking experience. As Senior Vice President – Treasury Management Market Leader in Madison, Melissa Fellows, CTP, leads our Madison team to deliver First Business Bank’s full suite of banking solutions.
  • Morgan Lewis Expands Finance Team With Arrival of Partner Mark Kirsons
    February 8, 2021
    Morgan Lewis is adding regional strength to its 110+ strong global finance team with the addition of partner Mark Kirsons, who joins from Sidley, where he also previously served as a co-leader of its Global Finance group, and will be resident in Chicago. Mark is recognized for his lender-side practice, representing banks, financial services companies, and private equity funds, many of which Morgan Lewis already serves in its US East and West coast offices and in the United Kingdom.
  • Sixth Street Specialty Lending, Inc. Increases and Extends Its Revolving Credit Facility
    February 8, 2021
    Sixth Street Specialty Lending, Inc. (NYSE: TSLX) (“TSLX” or “the Company") announced today that it has increased its Revolving Credit Facility (the “Facility”) from $1.335 billion to $1.485 billion and extended the final maturity date by over one year on $1.390 billion of commitments to February 4, 2026. The Facility was led by Truist Securities, Inc., JPMorgan Chase Bank, N.A. and MUFG Union Bank, N.A. as joint lead arrangers and includes a total of 20 bank participants.
  • Horizon Global Announces Successful Completion of $225M Term Loan Facility
    February 4, 2021
    Horizon Global Corporation (NYSE: HZN), one of the leading manufacturers of branded towing and trailering equipment, today announced the closing of an attractive new financing agreement with Atlantic Park Strategic Capital Fund, L.P. (“Atlantic Park”). The six-year agreement addresses all of the Company’s near-term maturities, provides long-term stability to its capital structure and offers the financial flexibility necessary to pursue its strategic initiatives.
  • Builders FirstSource Announces Increase and Extension of Revolving Credit Facility with Truist Bank
    February 4, 2021
    Builders FirstSource, Inc. (Nasdaq: BLDR) (“Builders FirstSource”), today announced that it increased the revolving facility commitments and extended the maturity date under its existing $900 million revolving credit facility (the “Facility”). In connection with the amended and restated Facility, the Company increased the total commitment from $900 million to $1.4 billion and extended the maturity date by 26 months to January 2026.
  • Victory Park Capital Expands eSME Strategy With Credit Facility to Cap Hill Brands
    February 4, 2021
    Victory Park Capital (“VPC”), a leading global alternative investment firm, today announced the close of a multi-year credit facility with Cap Hill Brands, a technology-driven consumer goods platform that acquires and operates e-commerce brands with an initial focus on Amazon-first brands. The credit facility marks the third deal that VPC has closed in the e-commerce sector since Q3 of last year, having most recently closed a credit facility with Perch, which also acquires and operates Amazon third-party sellers.
  • OP Bancorp to Acquire SBA Loan Portfolio
    February 4, 2021
    OP Bancorp (the “Company”) (NASDAQ: OPBK), the holding company of Open Bank (the “Bank”), today announced the signing of an asset purchase agreement to acquire the SBA portfolio of Hana Small Business Lending, Inc., a wholly-owned subsidiary of Hana Financial, Inc.
  • CIT Serves as Sole Lead Arranger on $16.1 Million Financing for Acquisition of Dialysis Center Portfolio
    February 4, 2021
    CIT Group Inc. (NYSE: CIT) today announced that its Healthcare Finance business served as sole lead arranger on $16.1 million in financing for the acquisition of a portfolio of dialysis centers. Cypress West Partners acquired the portfolio of six newly constructed built-to-suit dialysis centers in Meridian, McComb and Jackson, Mississippi; Lake Charles, Louisiana; Sacramento, California; and Bellmead, Texas. The facilities are occupied by Fresenius Medical Care, a leading dialysis provider.
  • Stonebriar Commercial Finance Hires Bennett and Holliman
    February 4, 2021
    Cole Bennett has joined the company as Credit Analyst. Cole graduated from Texas A&M in December 2020 with a BBA in Accounting, an MBA in Finance, and Certificate in Corporate Finance. Before joining Stonebriar Bennett had numerous internships, most recently with KPMG, LLP. Kyle Holliman has joined the company as a Director - Originations. Kyle graduated from Mississippi State University in 2018 with a BBA in Management. Prior to joining Stonebriar, Holliman was a Senior Account Manager for HomeStretch where he worked in a sales capacity maintaining existing customers and developing new relationships.
  • Clear Thinking Group’s Michael Wesley Named Chief Restructuring Officer of Stock + Field
    February 4, 2021
    Clear Thinking Group, the award winning advisory firm, announced today that the US Bankruptcy Court for the District of Minnesota has approved its retention by Stock+Field under section 363 of the US Bankruptcy Code, and that Partner Michael Wesley will serve as Chief Restructuring Officer during the Stock+Field chapter 11 process. Stock+Field is a premier farm, home, and outdoor retailer with 25 stores serving communities across Illinois, Indiana, Ohio, Michigan and Wisconsin.
  • Citizens Advises Leadec on its Acquisition of Diversified Automation
    February 4, 2021
    Citizens M&A Advisory announced today that it served as the financial advisor to Leadec in its acquisition of Diversified Automation, Inc. Founded in 2002, Diversified Automation is a leading automation controls and software solution provider to the express parcel industry. It serves global express parcel and e-commerce companies, prime contractors and integrators with end customers that include Amazon, FedEx Ground and UPS. Headquartered in Louisville, Kentucky, and with annual sales of approximately $100 million, Diversified Automation has more than 140 engineers and project managers operating in seven locations across the United States.
  • WhiteHawk Capital Partners Provides Senior Term Loan Facility to Challenge Manufacturing
    February 3, 2021
    WhiteHawk Capital Partners, LP ("WhiteHawk"), a private credit investment manager focused on asset-based financing solutions, announced it has entered into an agreement with Challenge Mfg. Company, LLC (“Challenge”) to provide a senior term loan facility that is in excess of $100 million. The term loan facility supported a refinancing of Challenge’s indebtedness and provided additional liquidity to continue to execute on the company’s growth.
  • Catalio Capital Management Launches Credit Opportunities Strategy
    February 3, 2021
    Catalio Capital Management, LP (Catalio), a multi-strategy life sciences investment firm, has today announced the launch of their Credit Opportunities strategy to expand the scope of the firm’s investments across the biomedical technology industry and meet the growing demand for non-dilutive growth capital within the sector. The Catalio Credit Opportunities strategy seeks to provide senior-secured structured credit to breakthrough biomedical companies, targeting well-capitalized, pre-cashflow businesses with significant support from institutional investors. The strategy will be led by Co-Portfolio Managers John Henry Iucker and Robert Snyder.
  • Audax Private Debt Provides Financing to Support Add-On Acquisitions and Refinancing for Cerity Partners
    February 3, 2021
    Audax Private Debt announced that, as Administrative Agent and Joint Lead Arranger, it provided a unitranche credit facility to support add-on acquisitions and a refinancing for Cerity Partners (“Cerity” or the “Company”), a portfolio company of funds affiliated with Lightyear Capital LLC. Founded in 2009, Cerity Partners is a leading national independent financial advisory firm serving high-net-worth individuals and their families, businesses and their employees, and non-profit organizations from its offices across the U.S.
  • Pacific Western Bank Announces Acquisition of Civic Financial Services
    February 3, 2021
    Pacific Western Bank announced today it has acquired Civic Financial Services, LLC, (“CIVIC”), from Wedgewood, Inc. (“Wedgewood”). Headquartered in Redondo Beach, CA, CIVIC is one of the leading institutional private lenders in the United States specializing in residential business-purpose loans (BPLs). Terms of the agreement were not disclosed.
  • LBC Credit Partners Supports LightBay Capital's Investment in Rancho Family Medical Group
    February 3, 2021
    LBC Credit Partners ("LBC"), one of the leading providers of financing solutions to middle market companies, provided a senior secured credit facility to support LightBay Capital's investment in Rancho Family Medical Group ("Rancho Family"). The investment from LightBay will allow Rancho Family to invest in new and existing care centers, as well as additional technology tools, which will facilitate the Company's continued growth.
  • Robbins, Salomon & Patt Elects Andrew M. Sachs as Chief Executive Officer
    February 3, 2021
    Robbins, Salomon & Patt, Ltd. (RSP), a full-service law firm in the Chicagoland area, is pleased to announce that Andrew M. Sachs, Chief Operating Officer, has taken the firm’s reins as Chief Executive Officer effective January 1, 2021.
  • Oxford Finance Provides $47 Million Credit Facility to Averhealth
    February 3, 2021
    Oxford Finance LLC (“Oxford”), a specialty finance firm that provides senior debt to healthcare services and life sciences companies worldwide, today announced the closing of a $47 million senior credit facility to Averhealth (or “the Company”), a provider of substance use testing and monitoring services tailored to the unique needs of courts and social service agencies. Averhealth is a portfolio company of Five Arrows Capital Partners (“Five Arrows”), the PE investment strategy of Rothschild & Co., a global advisory and asset management company.
  • First Business Bank Closes $15 Million Ledgered Line Accounts Receivable Financing Transaction
    February 3, 2021
    First Business Bank announces the closing of a $15 million Ledgered Line transaction by its Accounts Receivable Financing group. The facility includes a $4 million sub-limit against “unbilled A/R” and a $2 million short term over-advance sub-limit. Our new client provides international freight forwarding services. The company is experiencing exceptional growth, so its cash needs are outpacing its continued profitability.
  • Citizens Advises Flip Electronics on its Recapitalization by O2 Investment Partners
    February 3, 2021
    Citizens M&A Advisory announced today that it served as the exclusive financial advisor to Flip Electronics, LLC on its recapitalization by O2 Investment Partners, a Bloomfield Hills, Mich.-based lower middle market private equity firm. Flip Electronics is a Roswell, GA-based specialty distributor of end-of-life (“EOL”), obsolete and hard-to-find electronic components used in military, aerospace, telecommunications, healthcare and industrial applications. Flip’s purpose-built model, leveraging authorized partnerships with the world’s top semiconductor manufacturers, solves complex supply chain challenges created by component obsolescence.
  • Gemino Healthcare Finance Provides $5 Million in Financing
    February 3, 2021
    Gemino Healthcare Finance is pleased to announce it has provided financing to a skilled nursing and rehabilitation operator in December 2020. The $5 million financing was an asset-based revolving line of credit.
  • Sterling National Bank Provides $30,000,000 Secured Credit Facilities
    February 3, 2021
    Sterling National Bank's Commercial Services Group provided secured credit facilities totaling $30,000,000 to a nationwide importer and distributor of consumer electronic appliances.
  • Marco Provides a $750,000 Factoring Facility for a Legal Services Staffing Company
    February 3, 2021
    Marco Financial established a factoring facility for a New York based staffing company specializing in providing law firms with temporary legal personnel. Offering terms to its customers was stretching out cash flow and limiting the company’s growth. The client appreciated the quick turnaround time to open this account and said, “Marco seems to have things well under control, performing its due diligence and getting us our first funding efficiently.”
  • francesca’s® Completes Section 363 Asset Sale
    February 2, 2021
    Francesca’s Holdings Corporation (the “Company”) and Francesca’s Acquisition LLC, an affiliate of TerraMar Capital LLC (“TerraMar”), today announced, after a fulsome auction and sale process under Section 363 of the United States Bankruptcy Code, that it completed the sale of substantially all of francesca’s® assets, including all inventory and the francesca’s® brand, to Francesca’s Acquisition LLC, Tiger Capital Group LLC (“Tiger”) and SB360 Capital Group, LLC (“SB360”).
  • Summit Midstream Partners, LP Announces $175 Million of Financing Commitments for its Double E Pipeline Project and Schedules Fourth Quarter 2020 Earnings Call
    February 2, 2021
    Summit Midstream Partners, LP (NYSE: SMLP) (the "Partnership" or "SMLP") announced today that its wholly-owned, indirect subsidiary, Summit Permian Transmission, LLC, has received $175 million of commitments from three leading commercial banks to finance the development of its Double E Pipeline Project ("Double E"). The lenders have committed to provide senior secured credit facilities consisting of a $160 million delayed draw term loan facility and a $15 million working capital facility (collectively, the "Credit Facilities"). The Credit Facilities are non-recourse to SMLP and mature seven years after the date of initial borrowing.
  • FocalPoint Advises Therabody on its Growth Refinancing with JPMorgan Chase
    February 2, 2021
    Theragun®, Inc. d/b/a Therabody™ (“Therabody” or the “Company”) has announced the successful closing of a debt refinancing with JPMorgan Chase ("JPMorgan"). FocalPoint Securities, LLC (“FocalPoint”) served as Therabody’s exclusive financial advisor on the transaction. Therabody is a global innovator of wellness technology and the creator of the world’s first-ever percussive therapy device, Theragun, which is used to treat muscle tension, accelerate recovery, and improve athletic performance.
  • Armory Securities, LLC Announces $245 Million Refinancing for Landec Corporation
    February 2, 2021
    Landec is a diversified health and wellness solutions company with two operating businesses: Curation Foods is an innovator and distributor of plant-based foods to retail, club and foodservice channels throughout North America. Curation Foods brands include Eat Smart® fresh packaged vegetables and salads, O Olive Oil & Vinegar® premium artisan products, and Yucatan® and Cabo Fresh® avocado products. Lifecore Biomedical is a fully integrated contract development and manufacturing organization (CDMO) that offers highly differentiated capabilities in the development, fill and finish of sterile, injectable pharmaceutical products in syringes and vials for global and emerging biopharmaceutical and biotechnology companies.
  • Lighthouse Provides $1,050,000 Term Loan & Extends Line of Credit
    February 2, 2021
    Lighthouse Financial Corp. is pleased to announce the completion of a $1,050,000 term loan secured by machinery and equipment in conjunction with a term extension on the existing $3,500,000 line of credit for a froze foods manufacturer. Also included in the transaction is a seasonal line increase to $4,500,000 to support holiday season sales.
  • ABA Report: Credit Market Conditions Rebound for Consumers and Businesses
    February 2, 2021
    The chief economists of North America’s largest banks see improvement in business and consumer credit market conditions over the next six months, according to a new quarterly report from the American Bankers Association. The Q1 2021 ABA Credit Conditions Outlook highlights the results of the ABA Credit Conditions Index. The report represents a suite of indices derived from the quarterly outlook for credit markets produced by ABA’s Economic Advisory Committee, which is comprised of chief economists from major banking institutions across North America. Readings above 50 indicate that, on net, the economists expect business and household credit conditions to improve, while readings below 50 indicate a deterioration.
  • LSQ Provides $3MM to U.S. Government Contractor
    February 2, 2021
    LSQ, a leading provider of technology-driven working capital solutions, announced that the company originated a $3 million facility for a growing manufacturer to the U.S. government. The injection of capital via invoice financing will facilitate the acquisition of essential resources so that the manufacturing company can scale to meet the sizable demand implicit with their designation as a government contractor.
  • Cogent Bank’s Specialty Lending Group Hits Milestone
    February 2, 2021
    Cogent Bank announced today that its Specialty Lending Group has surpassed $100MM in loan commitments in less than 30 months. Mike Skat, executive vice president of Cogent Bank’s Specialty Lending Group, created a roadmap for how Cogent’s Specialty Lending Group would operate and established aggressive growth goals. During a very difficult 2020, Skat and his team worked hard to not only to grow their portfolio, but also assist with necessary liquidity support for existing borrowers through the PPP loan program and certain restructurings.
  • Express Completes $5MM LC Facility for PPE Products
    February 1, 2021
    Express Trade Capital Inc,. is pleased to announce a new $5MM letter of credit facility to assist the production of PPE. The client – an apparel industry mainstay – was using our factoring and PO funding facilities for several years before pivoting to produce PPE during COVID. The client needed to fulfill immediate orders and replenish stock but was uncomfortable leaving large deposits overseas before ensuring that goods were produced and passed quality inspections.
  • Maxim Commercial Capital Reports Strong 2020 Results
    February 1, 2021
    Maxim Commercial Capital (“Maxim”) today announced it funded transactions ranging from $10,000 to $1.5 million for borrowers in 42 states during 2020. The financings enabled small and mid-sized businesses (“SMBs”) get the heavy equipment they need to sustain and grow their businesses, despite challenged credit and the global COVID-19 pandemic (“Pandemic”). Maxim lends from $10,000 to $3,000,000 secured by heavy equipment and real estate to facilitate asset purchases, working capital and to refinance expensive short-term debt.
  • Stenn Closes $2,000,000 Receivables Finance Program for Sporting Goods Importer in USA
    February 1, 2021
    Stenn International has closed a seven-figure trade receivables finance program for a trading company based on the Westcoast that sources sporting goods from the Asia-Pacific region. This new financing program is being used to free up working capital to support sales expansion. Golf is one of the industries to flourish during the coronavirus outbreak. Beyond courses and clubs, other consumer-focused sectors in golf are also thriving during the pandemic.
  • Tech Patent Asset Diligence Key to Unlocking Liquidity During and Beyond COVID-19
    February 1, 2021
    Hilco Global has issued a timely and relevant report examining the shift in the balance of value between tangible and intangible assets that has taken place among large corporations, and how data driven insights and thorough management of a technology patent portfolio can lead to the realization of significant value for companies seeking access to additional sources of liquidity. Best Practices for Valuation, Assertion and Monetization of Technology Patent Assets, authored by Gillian McColgan of Hilco IP Merchant Banking, discusses the process for properly assessing and valuing technology patents as well as the painstaking steps that must be undertaken to both establish defensible patents and demonstrate infringement.
  • Rosenthal Provides $500,000 Production Finance Facility for California-based Cosmetics & Beauty Products Company
    February 1, 2021
    Rosenthal & Rosenthal, Inc., the leading factoring, asset-based lending and purchase order financing firm in the U.S., today announced the completion of a recent $500,000 purchase order finance facility to support the production financing requirements of a California-based cosmetics and beauty products company.
  • Express Completes $5MM LC Facility for PPE Products
    February 1, 2021
    Express Trade Capital Inc. is pleased to announce a new $5MM letter of credit facility to assist the production of PPE. The client – an apparel industry mainstay – was using our factoring and PO funding facilities for several years before pivoting to produce PPE during COVID. The client needed to fulfill immediate orders and replenish stock but was uncomfortable leaving large deposits overseas before ensuring that goods were produced and passed quality inspections.
  • Fifth Third Business Capital Provides $13.8 Million Refinancing for Hardin Holdings, Inc. (dba Ancon Marine)
    February 1, 2021
    Ancon celebrated its 52nd year in business during 2020. With humble beginnings in the Ports of Los Angeles and Long Beach, Ancon has expanded its business over the past 52 years beyond the port, into Industrial and Environmental Cleaning, with 10 operational locations across the US and service all major US Refineries and Power Plants.
  • A&G Named ‘Outstanding Restructuring Real Estate Firm of the Year’ At 12th Annual Turnaround Atlas Awards Ceremony
    February 1, 2021
    A&G Real Estate Partners—an advisory firm specializing in lease restructuring, real estate sales and auctions nationwide—captured two major awards at the 12th Annual Turnaround Atlas Awards Ceremony, a virtual event held on January 22. Most notably, the Melville-based firm won the coveted “Outstanding Restructuring Real Estate Firm of the Year” award at the independently governed program administered by Global M&A Network, which honors best value-creating transactions, outstanding firms, professionals and leaders from the global restructuring, insolvency, and distressed investing communities. Delayed by the pandemic, the January 2021 program honored projects completed in 2019.
  • Piermont Bank Appoints Marianne McGoldrick as Chief Credit Officer
    February 1, 2021
    Piermont Bank, a tech-enabled digital commercial bank headquartered in New York City, is pleased to announce that Marianne McGoldrick has joined the bank as Chief Credit Officer. Ms. McGoldrick will oversee Piermont Bank’s credit administration, including credit approval process, loan policies, and procedures, while ensuring its lending portfolio’s overall quality. She and her team will be safeguarding Piermont’s culture of prudent risk management.
  • Knotel Announces Path Forward to Rightsize Business
    February 1, 2021
    As part of its strategic path forward, Knotel has reached an agreement to sell the business to an affiliate of Newmark Group, Inc. (Nasdaq: NMRK) ("Newmark"), a leading full-service commercial real estate firm. The Company has also made the decision to exit multiple locations in the U.S. as part of the process. Milbank LLP and Fenwick & West LLP are serving as legal counsel and Moelis & Company LLC is serving as investment banker to Knotel
  • TCF National Bank Acquires BB&T Commercial Equipment Capital, Corp.
    February 1, 2021
    TCF Capital Solutions, a division of TCF National Bank (“TCF”), announced that TCF has acquired BB&T Commercial Equipment Capital, Corp. (“CEC”), which includes a portfolio of approximately $1 billion of equipment finance leases and loans. CEC was Truist Bank’s national small-ticket equipment leasing and finance business. Approximately 60 employees from Truist/CEC have joined the TCF team as a result of the transaction.
  • Siena Announces $135M in New Facilities During Q4 2020
    February 1, 2021
    Siena Lending Group continues to be a leader in the asset-based lending industry, consistently finding creative ways to offer our clients maximum flexibility and liquidity. We are proud to provide this overview of the financing solutions that Siena delivered in Q4 2020. Siena Lending Group and Siena Healthcare Finance both had busy quarters, closing a combined 10 deals totaling $135 million in facilities. For the year, we completed 25 transactions totaling more than $285 million.
  • TD Bank Creates New Commercial Bank from Commercial and Corporate and Specialty Bank Teams
    February 1, 2021
    TD Bank, America's Most Convenient Bank®, announced today that it has combined its previous Commercial and Corporate and Specialty Banking teams to create a new Commercial Bank. The new Commercial Bank will drive growth, deliver a better client and colleague experience and create efficiencies.
  • eCapital Corp. Appoints James Poston CPA, CMA as Chief Sales Officer
    February 1, 2021
    eCapital Corp. (“eCapital”), a leading alternative finance provider in North America to small and medium-sized businesses, today announced that it has named James Poston as chief sales officer. Poston brings more than 14 years of expertise in receivables financing and asset-based lending to this role. He will oversee eCapital’s sales strategy, drive business development and create unified revenue generation processes across the organization throughout the United States and Canada.
  • Pacific Western Bank Announces Senior Leadership Transition Plan
    February 1, 2021
    Today, PacWest Bancorp and Pacific Western Bank announced the first step of a Senior Leadership Transition Plan to be realized over the next three years. The plan involves the retention of Matthew P. Wagner as President and Chief Executive Officer through December 31, 2023, after which it is anticipated that he will transition to the role of Executive Chairman of PacWest Bancorp.
  • Sallyport Commercial Finance Helps Flooring Distributor with a $500,000 Accounts Receivable Facility
    February 1, 2021
    Sallyport Commercial Finance provides a $500,000 accounts receivable financing facility to support a growing distributor of flooring products. Partnering with their existing inventory lender, Sallyport was able to free up working capital and provide essential receivable management services to help the business succeed.
  • Celtic Capital Corporation Provides $1.5 Million to an Ohio-based Nurse Staffing Company
    February 1, 2021
    Celtic Capital Corporation today announced its most recent new client relationship – an Ohio- based nurse staffing company that was a former Celtic Capital borrower. This client originally came to Celtic Capital in 2017 and paid off our line of credit in 2018 after obtaining a line with a bank. During a difficult 2019 (losses), the Company’s owner paid off the bank line at the bank’s request.
  • CIFC Bolsters Investor Solutions Group With Addition of Rebecca Levy
    February 1, 2021
    CIFC Asset Management LLC (“CIFC”), a $30 billion alternative credit specialist serving institutional investors globally, today announced that Rebecca Levy has joined the firm as a Managing Director in its Investor Solutions Group. Most recently, Ms. Levy served as a Senior Portfolio Advisor at Aksia LLC. In this new role, Ms. Levy will strengthen CIFC’s Investor Solutions Group as the firm continues to scale its business, create tailored solutions for clients, and develop new institutional relationships. Based in New York, Ms. Levy reports to Jim Boothby, Managing Director and Global Co-Head of Business Development.
  • Apollo Named One of the “Best Places to Work for LGBTQ Equality” by the Human Rights Campaign’s 2021 Corporate Equality Index
    February 1, 2021
    Apollo Global Management, Inc. (NYSE: APO) (together with its consolidated subsidiaries, “Apollo”) today announced it has been recognized as a Best Place to Work for LGBTQ Equality by scoring 100% on the Human Rights Campaign Foundation’s 2021 Corporate Equality Index (CEI), the nation’s foremost benchmarking survey and report on corporate policies and practices related to LGBTQ workplace equality.
  • The Carlyle Group Leads, Structures Debt Financing for Blue Point’s Acquisition of Transtar
    February 1, 2021
    Global investment firm The Carlyle Group (NASDAQ: CG) today announced that its Global Credit platform led and structured the debt financing package to support Blue Point Capital Partners’ acquisition of Cleveland-based Transtar Holding Company, a global leader in transmission and driveline-related solutions. Carlyle’s middle market lending strategy, Carlyle Direct Lending, acted as administrative agent, sole lead arranger and sole bookrunner on the financing. Carlyle’s direct lending team is an active provider of private credit solutions across the capital structure, including senior secured loans, unitranche loans and junior debt.
  • Dave Secures $100 Million Credit Facility from Victory Park Capital
    February 1, 2021
    Dave, the banking app on a mission to create financial opportunity that advances America’s collective potential, announced today that it has secured a $100 million credit facility from Victory Park Capital (“VPC”), a leading global alternative investment firm. The funding will support the growth of Dave’s banking product and accelerate the company’s expansion into new products and features.
  • Antares Grows Portfolio While Closing More Than 220 Transactions and Issuing $14 Billion in Financing Commitments in 2020
    February 1, 2021
    Antares today announced that it closed more than 220 transactions in 2020, issuing nearly $14 billion in financing commitments to middle market private equity-backed companies. In a record Q4, the firm closed 120 transactions with commitments of $9.3 billion, supporting the refinancing, leveraged buyout and add-on acquisition activity of both new and existing borrowers.
  • Gail Glave Named Managing Director at Tiger Capital Group
    February 1, 2021
    Tiger Capital Group today announced that Director of Field Financial Operations Gail Glave has been promoted to Managing Director. As a key leader in the retail disposition practice of the asset appraisal, disposition and investment firm, she serves as both a senior financial analyst and operations specialist, responsible for financial modeling, tracking and analyzing daily sales data, and the on-site management of Tiger's field supervisors.
  • Skydance Media Lands $1 Billion Credit Facility
    January 28, 2021
    David Ellison's Skydance Media has closed a deal that will give it $1 billion in available credit from J.P. Morgan and a consortium of partnering banks. The refinancing agreement offers a four-year, $500 million revolving credit facility, with an option to expand to $1 billion if required. The new revolver is also backed by Comerica, Bank of America, Truist Bank, Union Bank and other financial institutions.
  • KKR Appoints Michael Small as Partner in European Credit & Markets Team
    January 28, 2021
    KKR, a leading global investment firm, today announced the appointment of Michael Small as a Partner in KKR's European Credit & Markets team. In his role, Michael will have certain origination, execution and fundraising responsibilities for KKR's Private Credit business and the broader Credit & Markets platform. He will also help grow KKR’s global mezzanine strategy. Michael will sit on several KKR Credit Investment Committees and will join the firm in mid-2021.
  • White Oak Delivers $3MM Asset-Based Lending Facility to a Certified Women’s Business Enterprise
    January 28, 2021
    White Oak Commercial Finance, LLC (“White Oak”), an affiliate of White Oak Global Advisors, LLC, announced its Government Contracting Finance arm provided a $3 million asset-based lending facility to a certified Women’s Business Enterprise (WBE) that distributes and installs specialty building products in the Northeast U.S.
  • Greenberg Traurig Named Restructuring Law Firm of the Year-Middle Markets at Turnaround Atlas Awards
    January 28, 2021
    Global law firm Greenberg Traurig, LLP was named Restructuring Law Firm of the Year for Middle Markets at Global M&A Network's 12th Annual Turnaround Atlas Awards held virtually, Jan. 21-22. According to the Global M&A Network website, the Awards honor excellence from the restructuring, insolvency, distressed investing, and M&A industries in categories of best value-creating transactions, outstanding firms, top professionals, and legendary leaders.
  • Republic Provides Direct to Consumer Asset Based Loan to Paul Fredrick
    January 28, 2021
    When a portfolio company of ClearLight Partners, Paul Fredrick, sought to refinance its existing bank facility, they partnered with Republic Business Credit. Republic provided a scalable, flexible and growth orientated facility with full availability on inventory, merchant accounts and direct to consumer proceeds to leverage Paul Fredrick’s e-commerce strategy. Paul Fredrick is a leading designer and retailer of men’s apparel and related accessories.
  • Stilt, a Financial Services Provider for Immigrants, Raises $100 Million Debt Facility From Silicon Valley Bank
    January 28, 2021
    Stilt, a provider of financial services for immigrants in the United States, announced today it has raised a $100 million warehouse facility from Silicon Valley Bank for lending to its customers. This brings Stilt’s total debt facilities so far to $225 million, and will enable it to reach more than $350 million in annualized loan volume. The company also announced the public launch of its no-fee checking accounts, which have been in private beta since September.
  • HYPERAMS Announces Upcoming Online Auction of Dura Automotive Systems, Inc.
    January 28, 2021
    HYPERAMS, LLC announced the online auction of assets no longer needed in the operation of Dura Automotive Systems, a manufacturer of automotive components. The assets are located in four plants in Milan and Lawrenceburg, Tennessee; Stockton, Illinois; and Auburn Hills, Michigan. The Milan, Tennessee location will be a complete facility shutdown. The online auction will include a variety of metal fabrication, wire braiding, cable manufacturing, flattening and trapezoid mills, and metalworking equipment, among other assets.
  • Lighthouse Financial Corp. Welcomes Andy Graziano
    January 28, 2021
    Lighthouse Financial Corp. is pleased to announce the addition of Andy Graziano to the team as vice president, business development covering the Southeast region including Georgia, Tennessee, Alabama and Florida. Mr. Graziano's primary responsibilities will include the marketing of Lighthouse's product offerings and origination of new asset-based loan opportunities.
  • L’Occitane U.S. Files for Bankruptcy With Plans to Close 23 Stores
    January 27, 2021
    L’Occitane U.S. filed Chapter 11 bankruptcy protection in New Jersey on Tuesday, seeking to close stores. The business cited declines in brick-and-mortar sales and the ongoing coronavirus pandemic as the reasons for the filing. Fox Rothschild LLP is representing L’Occitane.
  • Davis Polk Welcomes Finance Partner Nicholas Palumbo
    January 27, 2021
    Mr. Palumbo joins Davis Polk from White & Case LLP, where he led the firm’s Americas Private Credit & Direct Lending practice. He has extensive experience in structuring and negotiating direct lending and private credit transactions, including senior stretch and unitranche facilities, secured and unsecured syndicated loans, second lien and recurring revenue transactions, asset-based credit facilities, subscription line credit facilities, subordinated loans and mezzanine financings.
  • Department Store Chain Belk Filing for Chapter 11 Bankruptcy
    January 27, 2021
    Belk, the North Carolina-based department store chain which has catered to generations of shoppers for nearly 190 years, announced Tuesday that it will file for Chapter 11 bankruptcy. The chain’s owner, private equity firm Sycamore Partners, said in a news release that Belk will continue with “normal operations” as it goes through bankruptcy, The Charlotte Observer reported.
  • Buffet Restaurant Chain Cici’s Declares Bankruptcy as Pandemic Strain Finances
    January 27, 2021
    US-based buffet restaurant chain Cici’s Pizza has reportedly filed for bankruptcy after its finances were hit by the Covid-19 pandemic. The growing shift towards takeout and delivery in the restaurant segment affected the sales of the Texas-based company, which operates 318 units across 26 US states, together with its franchisees. Cici’s has agreed to sell itself to its primary lender D&G Investors, following its pre-packaged Chapter 11 declaration.
  • AlixPartners Boosts Private Equity Practice with the Addition of Managing Director, Adam Fless
    January 27, 2021
    AlixPartners, announced that Adam Fless has rejoined as a Managing Director in the firm’s New York office. Adam brings over 20 years of performance improvement experience from both the impact-focused consulting and private equity worlds. He will focus on supporting the firm’s private equity clients on executing diligence, margin, and growth transformation programs across industry verticals.
  • 10th Annual Citizens M&A Outlook Finds Business Owners, Private Equity Firms Expect Wave of Deals in Second Half
    January 27, 2021
    An improved public health environment and the possibility of higher capital gains taxes will likely drive increased merger and acquisition activity in 2021, according to a Citizens survey of 700 leaders at U.S. middle market companies and private equity firms. Companies will rely on M&A for growth in 2021 and more sellers will be open to making deals, particularly in the second half, survey respondents said.
  • Matrix Announces the Successful Sale of R.M. Parks, Inc.’s U.S. Wholesale Petroleum Distribution Assets
    January 27, 2021
    Matrix Capital Markets Group, Inc. (“Matrix”), a leading, independent investment bank, announces that it has advised R.M. Parks, Inc. (“R.M. Parks” or the “Company”) on the sale of its U.S. wholesale petroleum distribution assets to PacWest Energy, LLC, a joint venture between Jackson Energy and Shell Oil Products US. Tammera Diehm, Noreen Sedgeman, and Kristy Lieblein of Winthrop & Weinstine, P.A. served as legal counsel for R.M. Parks.
  • B. Riley Advisory Services Named Turnaround Consulting Firm of the Year at 12th Annual Turnaround Atlas Awards
    January 27, 2021
    B. Riley Advisory Services, a leading provider of specialty financial consulting services and solutions, and subsidiary of B. Riley Financial (NASDAQ: RILY) (“B. Riley”), is pleased to announce it was named Middle Market Turnaround Consulting Firm of the Year for its outstanding leadership in restructuring. The firm was also awarded in several individual deal categories at the 12th Annual Turnaround Atlas Awards hosted by Global M&A Network.
  • Carl Marks Advisors Continues Growth Momentum With Staff Additions & Promotions
    January 27, 2021
    Carl Marks Advisors, a leading investment bank providing financial and operational advisory services to middle market companies, today announced that Peter Keogh has joined the firm as a Managing Director, and promoted four current employees. Carl Marks Advisors is continuing to build upon the momentum it saw in 2020, a year in which it added 9 professionals to its team.
  • Rise Run Capital Acquires House of Outdoors, the Holding Company for Googan Baits, Fish Media and Made By Influence
    January 26, 2021
    The transaction closed with debt financing provided by CrossFirst Bank. Legal counsel was provided by a Spencer Fane LLP team led by Brian Memory and Aaron Pawlitz in coordination with the firm’s corporate group in Plano, Texas.
  • Oxygen and Fundera Partner for Fast Distribution of Second-Round Paycheck Protection Program Loans
    January 26, 2021
    Digital banking leader Oxygen today announced that it has partnered with Fundera, the go-to financial marketplace for small and medium-sized businesses (SMBs) to compare multiple loans instantly, to streamline the application and distribution process for the latest round of Paycheck Protection Program (PPP) loans. The Oxygen-Fundera partnership will bring much-needed assistance to the most at risk of America’s small businesses that have been financially impacted during the current global coronavirus pandemic.
  • Business Capital to Facilitate PPP Loans Round 2
    January 26, 2021
    Business Capital (BizCap®) announced that it will be assisting borrowers through the second round of the SBA’s Paycheck Protection Program by facilitating and streamlining the loan application and forgiveness process. BizCap will offer helpful information and expedited servicing via their online portal.
  • Crestmark Provides More Than $54.7 Million in Commercial Financing to 57 Businesses in the First Half of January
    January 26, 2021
    Crestmark secured a total of $26,375,000 in ABL financial solutions for eight new clients; Crestmark Equipment Finance provided $6,596,344 in three new lease transactions; Crestmark Vendor Finance provided $4,833,777 in 41 new lease transactions; the Joint Ventures Division provided $7,133,080 in two new transactions; and the Government Guaranteed Lending group provided $9,855,500 in financing for three new clients in the first half of January.
  • Briar Capital Real Estate Fund Promotes Leah Goldberg to CFO
    January 26, 2021
    Briar Capital Real Estate Fund LLC, a nationwide commercial real estate lender focused on the asset-based lending space, is pleased to announce the promotion of Leah Goldberg to Chief Financial Officer. In addition to this expanded role, Goldberg will continue to share in Briar’s underwriting responsibilities as she has for close to two years.
  • Hilco Commercial Industrial Facilitates Sale of Shop-Vac Assets to GreatStar Tools USA, LLC
    January 26, 2021
    Hilco Global, the world's premier authority on asset valuation, monetization, and advisory solutions, announced today that it has facilitated the sale of substantially all of the assets for Shop-Vac to GreatStar in a multi-million dollar transaction that closed on December 24, 2020. The assets acquired in the transaction include Shop-Vac’s intellectual property, real estate, machinery & equipment, inventory, and accounts receivable holdings.
  • CNH Finance Funds over $100,000,000 ABL and TL Transactions in 2020
    January 26, 2021
    CNH Finance is pleased to announce we have funded over $100,000,000 in new commitments, including revolving line of credit facilities secured by AR and Bridge to HUD term debt loans throughout 2020. A total of over 30 transactions supporting healthcare providers and commercial and industrial companies.
  • SG Credit Partners Provides $3.35 Million to Pharmaceutical Products Company
    January 26, 2021
    SG was able to work quickly and creatively to provide a $3.35MM loan structured primarily around the founder’s personal assets (real estate and marketable securities). SG’s speed to close allowed the Company to close the asset purchase and begin rebuilding the revenue base back to historical levels. SG’s facility is viewed by the Company as bridge financing until a broader capital facility can be raised.
  • Dwight Funding Names Jessica Bates Managing Director and Head of Business Development
    January 26, 2021
    Dwight Funding is pleased to announce that Jessica Bates has been named Managing Director and Head of Business Development. In this position, Jessica is responsible for driving product growth, market expansion and for leading the sales team across products and industries.
  • Star Mountain Capital Names Chris Goodwin, Former Co-Head of BNP Paribas Merchant Banking, as Managing Director and Establishes Dallas Office
    January 26, 2021
    Having completed over $6 billion in private equity and private credit investments, Chris Goodwin, former Managing Director & Co-Head of BNP Paribas Merchant Banking Group and current Operating Partner at Star Mountain Capital, has expanded his role to full-time Managing Director and has established Star Mountain’s Dallas office, expanding coverage of Texas and the Southwest.
  • Monroe Capital Corporation Closes Offering of $130 Million 4.75% Notes Due 2026
    January 26, 2021
    Monroe Capital Corporation (the “Company”) (NASDAQ: MRCC) announced today that it has closed a public offering of $130 million aggregate principal amount of 4.75% notes due 2026 (the “Notes”). The Company intends to use the net proceeds from this offering to redeem all of its outstanding 5.75% notes due 2023 and to repay a portion of the amount outstanding under its credit facility. However, the Company may re-borrow under its credit facility and use such borrowings to invest in lower middle-market companies in accordance with its investment objective and strategies and for working capital and general corporate purposes. As of January 12, 2021, the Company had $114.9 million in outstanding indebtedness under its credit facility.
  • Crestmark Welcomes Charles D. Starck as Business Development Officer to Commercial Business Credit Group
    January 25, 2021
    Crestmark is pleased to announce the appointment of Charles D. Starck as vice president, business development officer for the Commercial Business Credit Group. Based in Milwaukee Wisconsin, he will target businesses in Wisconsin, Minnesota, Iowa, and the Chicagoland area; he will report to Senior Vice President, Commercial Business Credit Sales Manager James (Jim) Farrell.
  • SG Credit Partners Enters Collateral-based Lending and Hires Experienced Underwriter
    January 25, 2021
    SG Credit Partners today announced that it has started a collateral-based lending division and hired Nathalie Butler to be Managing Director, Underwriting to lead this group. Nathalie has over 20 years of experience including asset valuation, disposition and most recently lending. Previously she was part of the senior team that built a leading specialty finance company. This new group was formed to fill the void left by the lending community unable to finance illiquid and esoteric assets or other situational bridge needs up to $10 million in loan size.
  • AMC Jumps as $917M Capital Raise Takes Bankruptcy 'Off the Table’
    January 25, 2021
    AMC has additional commitment letters for $411 million of incremental debt capital in place through mid-2023, unless repaid before then, through the upsizing and refinancing of a European revolving credit facility, the company said. AMC may pay non-cash PIK (payment-in-kind) interest through the duration of the European debt.
  • Investment Banking and Capital Markets Veterans Join to Form Boutique Debt Advisory Platform, Hudson Avenue Partners
    January 25, 2021
    Hudson Avenue Partners, a Detroit and New York-based advisory firm specializing in designing, structuring and raising debt and equity capital facilities within the middle market, has announced its official launch. Founded by seasoned investment banking and capital markets professionals Ryan Deegan and Kelly Stotler, Hudson Avenue Partners focuses on placement engagements requiring committed capital of $25 million to over $250 million in support of acquisition, refinancing and recapitalization transactions across various industry sectors.
  • SB360 Welcomes Leonard R. Polivy as Executive Vice President of Luxury, Diamond and Jewelry
    January 25, 2021
    SB360 Capital Partners, one of North America's leading asset realization and advisory firms, announced that Leonard R. Polivy has joined the company as Executive Vice President of Luxury, Diamond and Jewelry. Leonard brings over 30 years of hands-on experience in the diamond and jewelry industry and will lead the expansion and growth of SB360's Jewelry division.
  • Flatbay Capital Provides $1.6 MM CRE Loan for Large Powder Coating Company
    January 25, 2021
    Flatbay Capital LLC announces the closing of a $1,600,000 commercial real estate loan (industrial/warehouse) to refinance multiple properties for a large commercial powder coating company. Operating successfully in Houston for over 30 years, the business saw a recent decrease in revenue due to a shift in their customer base combined with sales team turnover.
  • Diamond Offshore Announces Comprehensive Restructuring Plan
    January 25, 2021
    The plan support agreement outlines a comprehensive plan for deleveraging the Company's balance sheet through the equitization of its senior unsecured notes, resulting in a reduction of over $2.1 billion of funded indebtedness. In addition, certain holders of senior unsecured notes have agreed to invest up to $110 million of new capital in the form of first lien, last out exit notes, while certain holders of revolving credit facility loans have agreed to provide exit financing facilities in the form of (a) a $300 million to $400 million first lien, first out revolving credit facility and (b) a $100 million to $200 million first lien, last out term loan facility. Paul, Weiss, Rifkind, Wharton & Garrison LLP and Porter Hedges LLP are acting as the Company's legal counsel and Alvarez & Marsal is serving as the Company's restructuring advisor. Lazard Frères & Co. LLC is serving as financial advisor to the Company.
  • Zenabis Announces $60 Million Committed Revolving Credit Facility to Refinance Senior Debt held by Sundial Growers
    January 25, 2021
    Zenabis Global Inc. (TSX:ZENA) ("Zenabis" or the "Company") is pleased to announce that it has entered into a credit agreement (the "Credit Agreement") with a Canadian private debt fund (the "Agent"), as agent on behalf of certain lenders, in respect of a committed revolving credit facility in a principal amount of up to $60 million, subject to borrowing base requirements based on eligible receivables, inventory and real estate.
  • TradeCap Partners Provides $650,000 Purchase Order Facility to Hair and Beauty Products Company
    January 25, 2021
    TradeCap Partners closed a $650,000 purchase order finance facility to an early stage Florida based hair and beauty products company. The facility will support fulfillment of large retail orders for multiple SKUs. The Company, with just over a year in business, was gaining traction growing brand exposure and sales. An existing big box customer was increasing orders as they expanded the SKU and store count for the Company’s products.
  • Rosenberg & Fecci Consulting, LLC Announces That Stephen Culloo has Been Admitted to the LLC as a Partner
    January 25, 2021
    Rosenberg & Fecci Consulting, LLC is pleased to announce that Stephen Culloo has been admitted to the LLC as a partner. Mr. Culloo joined Rosenberg & Fecci in 2009 as a college graduate, and in his time at R&F has risen from an Analyst to Director of Monthly Recurring Revenue field exams. Working closely with lenders in the Tech space, Mr. Culloo is responsible for developing the specialized scope and procedures, currently utilized for all field examinations with a focus on recurring revenue.
  • Citizens Advises Health iPASS, INC. on its Sale to Sphere, Backed by Waud Capital
    January 25, 2021
    Citizens M&A Advisory served as the exclusive financial advisor to Health iPASS, Inc., a high-growth, innovative provider of cloud-based patient engagement software and revenue cycle management technology, in its sale to Sphere, backed by Waud Capital. Health iPASS specializes in solutions that enhance provider revenue collections and deliver a streamlined healthcare consumer experience from appointment to final payment. The software helps providers accelerate cash flow, reduce the cost to collect, lower claim denials and improve patient relations. The technology improves the healthcare consumer experience by simplifying the check-in process and payment experience by facilitating pre-service, time-of-service and post-service engagement and patient payments through an innovative, multi-channel virtual software interface.
  • Byrna Technologies Enters into New Credit Facility
    January 25, 2021
    Byrna Technologies Inc. (OTCQB: BYRN) (CSE: BYRN) ("Byrna" or the "Company") today announced the closing of a new asset based ("ABL") revolving credit facility with Needham Bank. The new ABL provides Byrna with up to $5.0 million available for general corporate purposes and working capital. In addition to the $5.0 million revolving line of credit, the Company also entered into an agreement for a $1.5 million equipment line.
  • Golub Capital Announces Senior-Level Promotions
    January 25, 2021
    Golub Capital is pleased to announce a number of senior-level promotions in Direct Lending, Structured Products and the Investor Partners Group. Andy Steuerman has been promoted to the new role of Vice Chair of Direct Lending. Mr. Steuerman will continue as a senior member of the Investment Committee, oversee our Special Situations Team, manage our Late Stage Lending business and spearhead new strategic initiatives. He has been with Golub Capital for over 17 years.
  • Marco Financial Provides a $9,000,000 Trade Finance Facility for Spectralink Corporation
    January 25, 2021
    Marco Financial established an expanded international trade finance facility for Spectralink Corporation, an affiliated portfolio company of Sun Capital Partners, Inc. The company, a Boulder Colorado based global provider of on-site enterprise mobile communication solutions, required additional funding in part to finance production of a new significant contract with a major US based customer. With customers in Europe, as well, Marco was well suited to replace and enhance Spectralink’ s existing factoring facility.
  • North Mill Equipment Finance LLC Announces 10 Employee Promotions
    January 25, 2021
    North Mill Equipment Finance LLC (“North Mill”), a leading independent commercial equipment lessor located in Norwalk, Connecticut, announced today the promotion of ten employees representing several departments across the organization. They include: James Cavallaro, vice president, Contract Administration; Ellen Miller, vice president, Legal; Jeff Schick, vice president, Operational Controller; Michael Deck, assistant vice president, Credit; Ben Tishelman, assistant vice president, Operations; Griffin Dulligan, manager, Credit; Pierina Silvestre, manager, Insurance & Asset Management; Douglas Jackson, manager, Contract Administration; Sabrina Walker, manager, Contract Administration and Evan Worley, manager, Credit.
  • Huntington Business Credit Closes Facility with Kent Water Sports
    January 25, 2021
    Huntington Business Credit announced it closed a new $50,000,000 credit facility with Kent Water Sports on December 31, 2020. Proceeds of the facility were used to support the acquisition of Kent Water Sports by Seawall Capital, a middle-market private equity firm (www.seawallcap.com) and to provide ongoing working capital growth financing.
  • Monroe Capital Supports Growth Catalyst Partners’ Acquisition of The Equine Network
    January 25, 2021
    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 The Equine Network by private equity sponsor Growth Catalyst Partners. Based in Albuquerque, NM, The Equine Network is the leading provider of proprietary sports content, information, and tech-enabled services in the U.S. equine industry.
  • Tree Line Capital Partners Expands Private Credit Platform in 2020 Adding an SBIC Fund, Issuing $430M in New Loan Commitments and Establishing an Office in Austin, Texas
    January 25, 2021
    Tree Line Capital Partners, LLC (Tree Line) is pleased to announce the expansion of its lower middle-market direct lending platform adding a Small Business Investment Company (SBIC), an Austin, TX office and three new team members. 2020 presented significant volatility and market challenges to nearly all asset classes yet Tree Line was able to achieve significant growth through a continued focus on building a cycle-durable senior secured loan portfolio. In 2020, Tree Line issued loan commitments of $430 million, with nearly $325 million coming in the second half of the year, delivering flexible and reliable financing solutions to lower middle-market sponsors and borrowers.
  • HCAP Partners Announces New Investment in 83bar
    January 25, 2021
    HCAP Partners, a California-based private equity firm and nationally recognized impact investor, announced today its investment in 83bar, an Austin, TX-based leader in patient journey management for both clinical trials and commercial clients across pharma, medical device, and diagnostic industries. The mezzanine debt infusion will be used to restructure existing debt, provide share redemption for a small group of existing investors, and provide supplemental growth capital. Terms of the investment were not disclosed.
  • Corlex Capital Closes Debt Refinancing for Largest Anytime Fitness Franchisee
    January 25, 2021
    Corlex Capital ("Corlex"), a minority-owned private equity and consulting firm, announced the closing of a senior secured credit facility to refinance and provide growth capital for Bandon Holdings ("Bandon"), the largest franchisee of Anytime Fitness. Corlex served as the exclusive debt advisor to Bandon for the financing.
  • Staffing Company in Arizona Chooses TAB Bank for a $10 Million Revolving Credit Facility
    January 22, 2021
    A staffing company in Arizona has chosen TAB Bank for a $10 million revolving credit facility. The new facility is extended through a multi-year agreement and will provide the means to fund growth for the company. The company provides staffing services for many industries including distribution, manufacturing, construction, and oil production.
  • eCapital Corp. Elevates Jaime Gillespie to Chief Human Resources Officer
    January 22, 2021
    eCapital Corp. (“eCapital”), a leading alternative finance provider in North America, today announced that it has promoted Jaime Gillespie to chief human resources officer. In her new role, Gillespie will oversee employee engagement, talent management and leadership development, as well as alignment of the company’s diverse workforce and establishment of a unified corporate culture.
  • Focus Financial Partners Increases Term Loan Facility Size in Heavily Oversubscribed Transaction, Increasing Financial Flexibility
    January 21, 2021
    Focus Financial Partners Inc. (NASDAQ:FOCS) ("Focus"), a leading partnership of independent, fiduciary wealth management firms, announced today that it increased the offering under its First Lien Term Loan ("Term Loan") by $125 million, from the $375 million announced earlier this week, to $500 million. Upon completion, Focus' Term Loan balance will be approximately $1.63 billion, compared to approximately $1.13 billion as of December 31, 2020.
  • First Eagle Alternative Credit COO & CFO Terry Olson to Retire
    January 21, 2021
    First Eagle Alternative Credit, LLC today announced that Terry Olson, chief operating officer and chief financial officer, has elected to retire effective June 30, 2021. The Company will implement a plan that includes a search to identify a replacement CFO and transition of Olson’s operating responsibilities.
  • Clear Thinking Group Awarded Restructuring Advisory Firm of the Year by Finance Monthly
    January 21, 2021
    Clear Thinking Group announced today that it has been named “Restructuring Advisory Firm of the Year - USA” as part of Finance Monthly’s 2020 Global Awards. The Global Awards highlight the outstanding work done by financial advisors and organizations at an international level. It celebrates those who have excelled in their work, have exceeded client expectations, and have demonstrated measurable achievements over the last 12-18 months – even in the current challenging environment.
  • Cabretta Capital Announces Jesse Speltz as Director of Tax Credit Investments
    January 21, 2021
    Cabretta Capital, a leading specialty finance firm with extensive experience in structured tax equity and tax-advantaged investment strategies, is pleased to announce Jesse Speltz has joined the firm to serve as director of tax credit investments. In this role, Speltz will focus on expanding Cabretta’s national footprint with outreach to banks, private equity groups, family offices, specialty finance companies, CPA’s, wealth advisors, strategic businesses, and high net worth individuals to lower their federal and/or state tax liabilities.
  • White Oak Healthcare MOB REIT Announces Acquisition of Class-A Medical Office Building in Henderson, Nevada
    January 21, 2021
    White Oak Healthcare MOB REIT today announced it has acquired a Class-A Medical Office Building in Henderson, Nevada. The property was built in 2008 and is less than a mile from Dignity Health – St. Rose Dominican Hospital, in Henderson, Nevada, a well-regarded, fast-growing suburb of Las Vegas. The attractive property has excellent visibility and access within a retail / medical corridor.
  • Amerisource Closes $4,000,000 Senior Credit Facility for Steel Fabricator
    January 21, 2021
    Amerisource Business Capital announced the closing and funding of a $4,000,000 credit facility for a steel fabricator based in Texas. The proceeds are being used to support the Company’s growth and development plans.
  • First Business Bank Closes $1 Million Factoring Transaction
    January 21, 2021
    First Business Bank announces the closing of a $1 million factoring transaction by its Accounts Receivable Financing group. Our new client provides IT staffing and consulting to large corporate customers. Although many of the client’s customers were in the process of changing their managed service providers (MSPs), which complicated the deal, we closed the transaction in a timely manner.
  • AVEO Oncology Announces Commitment for an Incremental $10 Million Loan in Addition to Current Tranched, $35 Million Debt Facility with Hercules Capital
    January 21, 2021
    AVEO Oncology (Nasdaq: AVEO) today announced that it has received a commitment letter for an incremental $10 million loan from Hercules Capital, Inc. (NYSE: HTGC, “Hercules”) and its affiliates, to be added to the current tranched, $35 million debt facility secured with Hercules in August 2020 through an amendment to the amended and restated loan and security agreement (the “Loan Agreement”).
  • Peapack-Gladstone Bank Hires New Senior Managing Director, Commercial Private Banker
    January 21, 2021
    Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC) and Peapack-Gladstone Bank are proud to announce the appointment of Maureen O’Hara, Senior Managing Director, Commercial Private Banker, Commercial & Industrial (C&I). Headquartered in the Bank’s Teaneck location, Ms. O’Hara is responsible for growing a portfolio of commercial clients in the Bank’s markets and providing customized solutions through personal client service in the Commercial and Industrial (C&I) business.
  • Qumu Secures $10 Million Revolving Credit Facility, Providing Additional Financial Flexibility to Execute SaaS Growth Strategy
    January 20, 2021
    Qumu Corporation (Nasdaq: QUMU), a leading provider of cloud-based enterprise video technology for organizations of all sizes, has closed a $10 million revolving credit facility with Wells Fargo Bank, NA. The revolving credit facility availability is determined by recurring revenue, and has a maturity date of January 15, 2023.
  • Amerisource Closes $1,000,000 Credit Facility for Staffing Firm
    January 20, 2021
    Amerisource Business Capital announced the closing and funding of a $1,000,000 senior credit facility for a Texas based healthcare staffing firm. The proceeds were used to refinance the Company’s prior lender and to provide additional growth capital.
  • Encina Business Credit Provides $35 Million Revolving Credit Facility to Retailer
    January 20, 2021
    Encina Business Credit, LLC announced today that it has provided a $35 million senior secured revolving credit facility to a retailer. The senior secured revolving line of credit, which is collateralized by accounts receivable and inventory, was used to refinance the borrower’s existing facility.
  • Sterling National Bank Provides $8,500,000 Secured Credit Facilities
    January 20, 2021
    Sterling National Bank's Commercial Services Group provided senior secured credit facilities totaling $8,500,000 to Ice Air, LLC. The credit facilities will refinance the company’s existing debt as well as provide working capital to further expand and support the Company’s future projected growth.
  • CapFlow Funding Hires Tom Harris, Chicago-based Business Development Officer
    January 20, 2021
    CapFlow Funding Group (“CapFlow”) is pleased to announce the appointment of Tom Harris as Senior Vice President of Business Development. Based in Chicago, IL, Harris will drive new business efforts in both the Midwest and nationwide. “Tom brings 25 years of commercial finance experience to CapFlow, where he will continue to provide innovative financing solutions to his clients. We are pleased to have Tom join our sales team,” said CEO Andrew Coon.
  • Announcing Assembled Brands' $4M Partnership with Hammitt
    January 20, 2021
    Today, Assembled Brands is thrilled to celebrate the closing of a new $4 million revolving line of credit with Hammitt, a premium line of handbags and accessories that's a beloved favorite among retail partners and digital shoppers alike. Through this partnership, the LA-based company will further extend their marketing efforts and continue to expand their inventory assortment.
  • TAB Bank Provides Manufacturing Company in Michigan with a $1.5 Million Asset-Based Credit Facility
    January 20, 2021
    TAB Bank is pleased to announce it has provided a $1.5 million asset-based credit facility for a manufacturing company based in Michigan. The facility is based on a multi-year agreement and will provide for the company’s ongoing working capital needs. The company manufactures and provides electrical assembly, wiring, and connections for the robotics and assembly lines used in the U.S. automotive industry.
  • Synalloy Signs New Revolving Credit Facility Provided by BMO Harris Bank, N.A. as Agent and Sole Lender
    January 20, 2021
    Synalloy Corporation (NASDAQ:SYNL) (“Synalloy” or the “Company”) today announced that it has entered into a new, four-year revolving credit facility that provides up to $150 million of borrowing capacity. The new facility matures on January 15, 2025 and replaces and terminates the previous $100 million revolving facility that was scheduled to mature on December 21, 2021 and the $20 million term loan facility scheduled to mature on February 1, 2024. The new facility was provided by BMO Harris Bank, N.A. as Agent and sole lender.
  • Porter Capital Closes the Year by Funding a $20M Facility in Just Three Weeks
    January 19, 2021
    Porter Capital, a leading provider of accounts receivable financing and asset-based lending solutions for businesses nationwide, announced the funding of a $20 million facility in just three weeks. The client is a publicly-traded company who specializes in manufacturing machine tools and machines. The company sought a $20,000,000 line to be drawn down to enhance the balance sheet before year-end.
  • Karl Pearson Join Paladin As Partner
    January 19, 2021
    Paladin, the fast-growing middle market advisory firm driving value-creation through financial and operational consulting services, today announced that Karl Pearson has joined its team as a Partner. Karl is a seasoned leader in transforming organizations, driving growth and positioning companies for long-term sustainability and profitability.
  • Moore & Van Allen Represents Left Lead Arranger and Administrative Agent in $2 Billion ESG-linked Syndicated Revolving Credit Facility
    January 19, 2021
    Moore & Van Allen PLLC (MVA) is pleased to announce that the firm represented the left lead arranger and the administrative agent in connection with a $2 billion syndicated revolving credit facility for Flex Ltd. The credit facility includes a feature directly linking interest payments and fee amounts to certain environmental, social and governance (ESG) metrics, including greenhouse gas emissions and workplace safety.
  • Concord Closes $6MM Deal for CoreCentric Solutions
    January 19, 2021
    Concord Financial Advisors, LCC served as exclusive financial advisor and arranged $6 million in senior debt for CoreCentric Solutions, Inc., Carol Stream, IL. The senior secured revolving line of credit will be used to refinance existing debt and support working capital.
  • Versant Funding LLC Funds a $1.2 Million Non-recourse Factoring Facility to a Distributor
    January 19, 2021
    Versant Funding LLC is pleased to announce it has funded a $1.2 million non-recourse factoring facility to a distributor serving the academic and commercial medical research communities. This company required a quick infusion of cash as a bridge to a planned capital raise. The existing investors were unwilling to contribute additional equity into the business, so they looked to factoring as a non-dilutive alternative to generate the cash needed until the capital raise was complete.
  • B. Riley Real Estate and NAI Global Lead Sale of Former Remington Manufacturing and Office Facilities in Huntsville, Alabama and Madison, North Carolina
    January 19, 2021
    B. Riley Real Estate (“B. Riley”) and NAI Global (“NAI”) today announced the former manufacturing facilities and corporate office buildings of Remington Outdoor Co. (“Remington”) located in Huntsville, AL and Madison, NC are available for sale and/or lease. B. Riley and NAI are serving as co-listing agents for the properties in connection with the recent bankruptcy and asset auction of the 200-year-old firearms and ammunition maker.
  • Oxane Signs Three Global Investment Banks for its Illiquid Credit Portfolio Management Solution
    January 19, 2021
    Oxane Partners, a leading technology-driven solutions provider to private markets, announced signing three bulge bracket investment banks across the US and Europe for its illiquid credit portfolio management solution - Oxane Panorama. With more than $200 billion of notional hosted on Oxane's platforms, Oxane is at the forefront of the digitalization drive in the private markets space.
  • Samuel L. Shimer Named Chair of Heritage Global Board of Directors
    January 19, 2021
    Heritage Global Inc. (NASDAQ: HGBL) (“Heritage Global,” “HGI” or “the Company”), an asset services company specializing in financial and industrial asset transactions, today announced that Samuel L. Shimer has been elected Chair of its Board of Directors. Former Chair and Board of Directors member Allan C. Silber has resigned from Heritage Global’s board, effective at the close of the March board meeting, following a long tenure with, and stewardship of, the Company, to focus on other business commitments.
  • Peoples Bank Welcomes Rob Camandona as a Vice President and Commercial Banking Officer
    January 19, 2021
    Peoples Bank has announced the appointment of Rob Camandona as a Vice President and Commercial Banking Officer in the Bellingham Commercial Banking Group. Rob brings over a decade of experience in the financial services industry, having served as a credit analyst and commercial loan officer.
  • Bryn Mawr Trust Adds George Robostello as South Jersey Managing Director of Commercial Banking
    January 19, 2021
    Bryn Mawr Trust (BMT), wholly owned by Bryn Mawr Bank Corporation (NASDAQ: BMTC), announced today that George Robostello has joined the company as Senior Vice President and Managing Director of Commercial Banking, Southern New Jersey region. He reports directly to Jim Donovan, Head of Commercial and Industrial Banking, and will build a team of commercial bankers focused on the New Jersey region.
  • In the Initial Transaction of its Ten-Year Anniversary, Abacus Finance Provides $26.3 Million in Senior Debt Financing to Support the Leveraged Buyout of BioDerm, Inc. by Mountaingate Capital
    January 19, 2021
    In the first in transaction of its ten-year anniversary, Abacus Finance Group, LLC today announced that it served as Senior Secured Credit Facilities Administrative Agent and Lead Arranger for $26.3 million in senior secured credit facilities to support the leveraged buyout of BioDerm, Inc. by Mountaingate Capital. Abacus – a leading provider of cash flow-based, classic senior debt for sponsor-led buyouts of companies with $3 million to $15 million in EBITDA – also made an equity co-investment in BioDerm.
  • Rachael Sampson Named Director of Key4Women
    January 18, 2021
    KeyBank has named Rachael Sampson as Senior Vice President, Director of Key4Women. Sampson will lead a nationwide network to promote and support women business owners and clients toward growth. Sampson, who has been with KeyBank for 15 years, previously served as relationship manager, Commercial Banking, for KeyBank's Cincinnati Market.
  • Churchill Asset Management Achieves Record Capital Raising and Investment Activity in 2020
    January 18, 2021
    Churchill Asset Management (“Churchill” or the “Firm”), an investment-specialist affiliate of Nuveen providing customized financing solutions to private equity firms and their portfolio companies across the capital structure, today announced that it had achieved record levels for the firm in both capital raising and investment activity in 2020. Churchill raised over $6.4 billion of new committed capital in 2020, more than doubling 2019 fundraising figures, with an additional $2.2 billion expected to close in the first quarter of 2021.
  • Good Times Restaurants Inc. Amends Credit Facility
    January 18, 2021
    Good Times Restaurants Inc. (Nasdaq: GTIM), operator of Bad Daddy’s Burger Bar and Good Times Burgers & Frozen Custard, today announced that it has amended its credit agreement with Cadence Bank, which extends its maturity to January 2023 and adjusts the facility’s capacity initially to $11 million.
  • Charles River Associates (CRA) Increases Credit Facility by $50 Million
    January 18, 2021
    Charles River Associates (NASDAQ: CRAI), a worldwide leader in providing economic, financial, and management consulting services, today announced that the Company has increased its revolving credit facility from $125 million to $175 million. The additional $50 million in commitments will provide working capital to support continued growth in the business and fund other general corporate purposes. During the fiscal year ended January 2, 2021, CRA’s maximum fiscal quarter-end loan borrowings on its revolving credit facility were $70 million, which were completely repaid by year end.
  • Tradewind Finance Delivers $5 Million Credit Facility for Meat Trading Company based in USA with Subsidiary in Brazil
    January 18, 2021
    Tradewind Finance has completed a $5 million export factoring facility for a meat trading company that is based in the United States and has a subsidiary in Brazil. The company exports to the Middle East, South Africa, and Asia and is using the funding to support their growth.
  • Consolidated Communications Secures Incremental Term Loan Financing of $150 Million
    January 18, 2021
    Consolidated Communications (NASDAQ: CNSL) today announced it has secured and closed on an incremental $150 million term loan that is fungible with the Company’s existing First Lien Term Loan B with maturities due October 2027. JPMorgan Chase Bank, N.A., Morgan Stanley Senior Funding, Inc., Wells Fargo Securities, LLC, Goldman Sachs Bank, USA, Deutsche Bank Securities Inc., TD Securities (USA) LLC and Mizuho Bank, Ltd. served as lead arrangers and book runners for the financing.
  • Federal Communications Commission Approves Frontier’s Chapter 11 Restructuring
    January 18, 2021
    Frontier Communications Corporation (OTC: FTRCQ) (“Frontier Communications”) announced today that it has secured approval from the Federal Communications Commission (FCC) for its Chapter 11 restructuring. Frontier now has regulatory approvals, or favorable determinations, for its required change-in-control applications related to its court-supervised restructuring from the FCC and 13 states: Arizona, Georgia, Illinois, Minnesota, Mississippi, Nebraska, Nevada, New York, Ohio, South Carolina, Texas, Utah and Virginia.
  • Huntington Business Credit Announces a $17.5 Million Credit Facility with InfoCision Inc.
    January 18, 2021
    Huntington Business Credit announced it closed a new $17,500,000 credit facility with InfoCision Inc.on December 30, 2020. Proceeds of the facility were used to refinance existing indebtedness and to provide ongoing working capital growth financing. InfoCision Inc., located in Akron, Ohio, operates telemarketing call centers in 13 locations throughout Ohio, Pennsylvania and West Virginia.
  • Tradecycle Capital Delivers Two New Accounts Payable Finance Facilities in December
    January 18, 2021
    Tradecycle Capital, an Indianapolis-based trade finance provider, announced it funded two new revolving accounts payable funding facilities in November. The first, a $500,000 limit to a precision machining shop that focuses primarily on the automotive industry. The second was a $1,000,000 limit to a Canadian manufacturer of precision molds for injection molding of automotive parts. Both programs are supplemental to their senior lending facilities.
  • eCapital Commercial Finance Announces $1.5 Million Debtor in Possession (DIP) Financing for an Industrial LED Lighting Company
    January 18, 2021
    eCapital Commercial Finance (“eCapital”), a division of eCapital Corp., a leading North American alternative financing solution provider for small and medium-sized businesses, today announced it has provided a $1.5 million debtor in possession (DIP) factoring facility to an industrial LED lighting company in Chapter 11 bankruptcy. The company will utilize the factoring facility to continue operations as they move through the Chapter 11 process.
  • J D Factors Announces Factoring Facilities
    January 18, 2021
    J D Factors Announced it provided the following factoring facilities: $200,000 to a security company in Texas; $100,000 to a transportation company in Texas; $75,000 to a transportation company in Georgia; $50,000 to a transportation company in Arkansas
  • LSQ Provides $6 Million Facility To Digital Security Company
    January 18, 2021
    LSQ originated a $6 million credit facility late in the fourth quarter to a virtual credential solutions company gearing up for hyper-growth. After developing their product and receiving stellar feedback from the market, the company identified a need for capital to fuel their growth.
  • Horizon Technology Finance Provides $8 Million Venture Loan Facility to Clara Foods
    January 18, 2021
    Horizon Technology Finance Corporation (NASDAQ: HRZN) ("Horizon"), a leading specialty finance company that provides capital in the form of secured loans to venture capital backed companies in the technology, life science, healthcare information and services, and sustainability industries, announced today it has provided an $8 million venture loan facility to Clara Foods, Inc. ("Clara Foods"), of which $5 million has been initially funded.
  • Oxford Finance Leads $122 Million Financing for Tarrytown Expocare
    January 18, 2021
    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 $122 million senior credit facility to Tarrytown Expocare (“Tarrytown or “the Company”), a closed-door long-term care pharmacy specializing in serving individuals with intellectual and developmental disabilities (“IDD”).
  • SSG Advises Green’s Natural Foods, Inc. in its Sale to Hudson Equity Partners, LLC
    January 18, 2021
    SSG Capital Advisors, LLC (“SSG”) acted as the investment banker to Green’s Natural Foods, Inc. (“Green’s” or the “Company”) in the sale of its equity interests to Hudson Equity Partners, LLC. (“Hudson” or the “Buyer”). The transaction closed in December 2020. Green’s is a branded lifestyle chain of organic and natural grocery stores in Westchester County, New York. Through its four unique supermarkets, the Company caters to the public’s growing interest in eating and living healthier.
  • TD Bank Group to Acquire Wells Fargo's Canadian Direct Equipment Finance Business
    January 18, 2021
    The Toronto-Dominion Bank ("TD") (TSX andNYSE: TD) and Wells Fargo & Company ("Wells Fargo") (NYSE: WFC) today announced a definitive agreement, subject to certain closing conditions, for TD to acquire Wells Fargo's Canadian Direct Equipment Finance business. The acquisition of Wells Fargo's Canadian Direct Equipment Finance business is expected to add scale and capabilities to TD's existing Canadian Equipment Financing business and expand TD's presence in core markets.
  • Great Rock Capital Closes $15 Million Credit Facility with Coast to Coast Equipment
    January 15, 2021
    Great Rock Capital, an asset-focused commercial finance company specializing in middle market lending, today announced the close of a $15 million senior secured credit facility with Coast to Coast Equipment, which specializes in buying, selling, and renting new and used aerial-lift equipment. The new facility refinanced the existing lender and provides Coast to Coast with additional liquidity to position the company for continued growth.
  • Angelo Gordon's Twin Brook Capital Partners Commits Over $925 Million to Private Equity-Backed Healthcare Transactions in 2020
    January 14, 2021
    Twin Brook Capital Partners (“Twin Brook” or the “Firm”), the middle market direct lending subsidiary of Angelo Gordon, today announced that it committed over $925 million to private equity sponsors in support of healthcare transactions last year, completing 26 healthcare transactions across 10 subsectors. The Firm served as lead agent on all the healthcare transactions it supported in 2020, which included 11 new platform financings and 15 add-on financings.
  • Blackford Capital Announces Investment in Aqua-Leisure Industries
    January 14, 2021
    Blackford Capital, a private equity firm based in Grand Rapids, Michigan, today announced an investment in Aqua-Leisure Industries, a leader and pioneer in water sport leisure product development and aquatic goods. Headquartered just outside of Boston, Aqua-Leisure was founded in 1970 and primarily serves the aquatic consumer products industry. The company is one of the largest and most innovative designers and distributors of multiple lines of high quality, performance-based products under a variety of brand names and proprietary designs, including swim goggles, "Learn to Swim" products for children, and pool floats, among other categories.
  • Oxford Finance Leads $107 Million Upsize Financing for Specialty Dental Brands
    January 14, 2021
    Oxford Finance LLC (“Oxford”), a specialty finance firm that provides senior debt to healthcare services and life sciences companies worldwide, today announced the closing of a $107 million senior credit facility to Specialty Dental Brands (“SDB” or “the Company”) a dental services organization focused on pediatric dentistry, orthodontics, and oral surgery.
  • Greystone Adds Michael Zampetti to Commercial Finance Team
    January 14, 2021
    Greystone, a leading national commercial real estate finance company, announced that Michael Zampetti, Jr., Managing Director, has joined the Commercial finance team led by Scott Chisholm, based in New York. In this role, Mr. Zampetti will focus on loan production across an array of platforms while working to expand the firm’s lending activities to a broader scope of commercial asset classes.
  • Going-Out-of-Business Sales Begin at All 25 Stock+Field Stores in Midwest
    January 14, 2021
    Going-out-of-business sales are underway at all 25 Stock+Field stores across the Midwest—an opportunity for enthusiasts of the rural lifestyle to find bargains on thousands of premier items in categories such as farm supplies, outdoor power equipment, lawn and garden, hardware/tools, home, sporting goods, and apparel/footwear. A joint venture of Tiger Capital Group and B. Riley Retail Solutions (a B. Riley Financial company) is conducting the liquidation sales in Illinois, Indiana, Ohio, Michigan and Wisconsin on behalf of Tea Olive I, LLC (d/b/a Stock+Field). Founded in 1964 as BigR stores, Stock+Field filed for Chapter 11 bankruptcy protection on January 10, 2021 in the U.S. Bankruptcy Court for the District of Minnesota.
  • Store Closing Sales Begin at All Christopher & Banks Stores Nationwide
    January 14, 2021
    Christopher & Banks, on January 13, 2021, filed for Chapter 11 reorganization and authorized store closing sales to be conducted by Hilco Merchant Resources. The store closing process has begun at more than 400 stores nationally. Since 1956, Christopher & Banks has been providing customers with style, value and service that help her look fabulous and feel amazing, every day and for life’s special moments and still focuses on putting “her” first.
  • LQD Business Finance Promotes Jack Zeng to Chief Technology Officer
    January 14, 2021
    LQD Business Finance, a Chicago-based commercial lender, announced the promotion of Jack Zeng to Chief Technology Officer. In his new capacity, Zeng will be leading all efforts behind the company’s automation and technology solutions to continue expanding the capacity of its proprietary lending systems. As LQD Business Finance continues to compete in the private debt market, Zeng’s leadership will be instrumental in broadening the company’s portfolio, with a focus on further streamlining and innovating methods of business development and operations.
  • Harney Partners Promotes Erik White to Managing Director
    January 14, 2021
    Harney Partners, a national, corporate turnaround and restructuring advisory firm, is pleased to announce the promotion of Erik White to Managing Director. In this expanded leadership role, White will continue to focus on providing financial and operational advisory services to companies in transition and distressed situations, while driving firm growth strategies and client delivery enhancement.
  • CIT Leads $69 Million Financing for Solar Portfolio
    January 14, 2021
    CIT Group Inc. (NYSE: CIT) today announced that its Power and Energy business led a $69 million financing for a portfolio of solar facilities owned and operated by Strata Solar LLC, a leading integrated solar and storage energy service provider based in North Carolina. The 23 operating solar assets in the portfolio, a majority of which are located in North Carolina, have a combined capacity of more than 130 megawatts. Output from the solar assets is covered by purchase agreements that ensure a steady demand for the renewable power they generate.
  • Siena Healthcare Finance Hires Western Region Business Development Officer
    January 13, 2021
    Siena Healthcare Finance is pleased to announce the addition of Nicholas “Niko” Tsitsos to our team. In the capacity of Director of Business Development, Niko will be covering the Western Region of the U.S. and is located in San Francisco, California. Prior to joining the team, Niko served as Vice President Healthcare Finance Loan Originations at Wells Fargo. Niko has also held positions at Wellington Management Company and John Hancock Financial Services prior to Wells Fargo.
  • Briar Capital Real Estate Fund Announces a New $6MM Real Estate Loan to a Metal Fabrication and Machine Shop
    January 13, 2021
    Briar Capital Real Estate Fund ("BCREF") (www.BriarCapital.com) is pleased to announce a new $6MM real estate loan to a metal fabrication and machine shop in Texas. The loan facility consists of a $5MM Term Loan and a $1MM Revolving Line of Credit, both secured by the company's real estate. Using only the real estate as collateral, the BCREF facility freed up the company's remaining assets, allowing them to be leveraged by another lender.
  • First Business Entities Align as First Business Bank
    January 13, 2021
    First Business Financial Services, Inc. (Nasdaq: FBIZ), parent company of First Business Bank, today announces that all First Business entities align as First Business Bank. This alignment is accompanied by a refreshed logo and a new .BANK website and email addresses. Only verified members of the global banking community can register .BANK website and email domain names, which enhances security for clients.
  • Reopening the Middle Market: Part Two of an RSM Special Report
    January 13, 2021
    As the pandemic passed the sixth-month mark in the United States, middle market companies were adapting to continued economic disruption by leveraging technology in new ways for both employees and customers and implementing or considering permanent remote work in some cases, proprietary research from RSM US LLP found.
  • Sterling National Bank Provides $2,000,000 Secured Credit Facilities
    January 13, 2021
    Sterling National Bank's Commercial Services Group provided senior secured credit facilities totaling $2,000,000 to Super Retro, LLC. The credit facilities will be used to provide working capital for the company’s anticipated future growth. Established in 2019 in the State of Delaware, Super Retro is an importer of men’s casual apparel and loungewear.
  • TAB Bank Provides Distribution Company in New York with a $15 Million Revolving Credit Facility
    January 13, 2021
    TAB Bank is pleased to announce it has provided a $15 million revolving credit facility for a distribution company headquartered in New York. The new facility is extended through a multi-year agreement and will provide for the company’s ongoing working capital needs. The company is an importer and wholesale distributor of kitchen products. Their product lines include kitchen gadgets, tools, dinnerware, flatware, bakeware, and other related items.
  • Monticello Arranges $467M Financing Package for Skilled Nursing Portfolio Acquisition in Southeast
    January 13, 2021
    The financing package from Monticello included $368 million in first-lien debt and $99 million in mezzanine debt. Combined with other financing, the total loan amount for the acquisition was $507 million.
  • Shipley Do-Nuts Receives Loan as Part of Peak Rock Buyout
    January 13, 2021
    Shipley Do-Nuts received a senior credit facility backing an acquisition of the company by an affiliate of Peak Rock Capital. NXT Capital is sole lead arranger and administrative agent, market sources said today.
  • Monroe Capital Supports Altamont Capital Partners’ Acquisition of Specialized Packaging Group
    January 13, 2021
    Monroe Capital LLC (“Monroe”) today announced it acted as administrative agent and joint lead arranger on the funding of a senior credit facility to support the acquisition of Specialized Packaging Group (“SPG”) by private equity sponsor Altamont Capital Partners.
  • FTI Consulting Enhances Senior Lender Offering in Houston with the Appointment of Dave Katz as Senior Managing Director
    January 12, 2021
    FTI Consulting, Inc. (NYSE: FCN) today announced the appointment of Dave Katz as a Senior Managing Director in the firm’s Corporate Finance & Restructuring segment, further enhancing the firm’s Senior Lender Advisory practice. Mr. Katz, who will be based in Houston, brings over 20 years of experience having negotiated, structured and managed numerous ground-breaking, complex restructurings, transactions and amendments. His appointment comes as lenders realign their focus on energy and renewables and companies reassess how to best position themselves in ever more challenging markets.
  • Fifth Third Business Capital Arranges Working Capital Line of Credit for Polder Products, LLC to Support Acquisition Growth
    January 12, 2021
    Fifth Third Business Capital announced it arranged a $10 million working capital line of credit for Polder Products, LLC, a leading designer and distributor of a variety of houseware products based in Oxford, CT.
  • Curaleaf Completes New $50 Million Revolving Credit Facility
    January 12, 2021
    Curaleaf Holdings, Inc., a leading U.S. provider of consumer products in cannabis, today announced the Company has successfully completed a new $50 million, three-year secured revolving credit facility. Seaport Global Securities LLC acted as the sole placement agent for the credit facility.
  • Loves Furniture & Mattresses Files for Chapter 11 Bankruptcy Protection
    January 12, 2021
    Loves Furniture & Mattresses, owned by Dallas-based private equity firm U.S. Assets Inc., filed for Chapter 11 bankruptcy protection this week amid struggles brought on by the COVID-19 pandemic. The bankruptcy filing estimates the company’s number of creditors to be between 100 and 199, and its assets and liabilities to each be between $10 million and $50 million. Butzel Long PC is representing the company as counsel in connection with all duties under the Bankruptcy Code and B. Riley Advisory Services is acting as financial advisor in connection with the company’s Chapter 11 case.
  • Citizens Advises Lacerta Group on its Recapitalization by SK Capital
    January 12, 2021
    Citizens M&A Advisory announced today that it served as exclusive financial advisor to Lacerta Group on its recapitalization by SK Capital. Privately held since it was founded in 1993, Lacerta is a leading provider of innovative packaging solutions primarily serving the food end market. The company offers a comprehensive range of custom PET packaging products including a leading line of tamper-evident products sold under the “Fresh N’ Sealed” brand. The vast majority of Lacerta’s products are 100% recyclable, and the packaging solutions produced by the company can be made with up to 100% recycled content.
  • SG Credit Partners Provides $2.2 Million SaaS Loan
    January 12, 2021
    SG Credit Partners provided a $2.2 million SaaS loan for a digital signage SaaS platform enabling SMB & enterprise customers to easily create and manage content in real time on any number of displays, anywhere in the world.
  • Runway Growth Capital Announces a Senior Secured Term Loan of $50 Million to VERO Biotech
    January 12, 2021
    Runway Growth Capital LLC ("Runway"), a leading provider of growth loans to both venture and non-venture backed companies seeking an alternative to raising equity, today announced the close of a senior secured term loan of $50 million to VERO Biotech LLC, an Atlanta, Georgia-based biotechnology company focused on saving lives, alleviating suffering, and improving the health economics of care.
  • Better Choice Secures New $12.0 Million Credit Facility at LIBOR Plus 250 Basis Point Interest Rate
    January 12, 2021
    Better Choice Company, an animal health and wellness company is proud to announce it has secured a new $12.0 million long-term credit facility at LIBOR plus 250 basis point interest rate with Wintrust Financial Corporation (‘Wintrust’), a leading commercial bank headquartered in Chicago, Illinois. Under the terms of this new agreement, Better Choice will simultaneously refinance all existing indebtedness with Citizens Bank and Bridging Finance, which currently totals approximately $13.3 million.
  • Horizon Technology Finance Management Expands Origination and Investment Team
    January 12, 2021
    Horizon Technology Finance Management LLC ("Horizon"), a registered investment advisor that underwrites and manages secured loans made to companies in the technology, life science, healthcare information and services, and sustainability industries, and the manager and advisor for Horizon Technology Finance Corporation (NASDAQ: HRZN), announced today that it has added five finance professionals to its origination and investment team.
  • DocuSign Bolsters Balance Sheet with Revolving Credit Facility
    January 12, 2021
    DocuSign, Inc. (Nasdaq: DOCU) today announced the closing of a new $500 million, five-year senior secured revolving credit facility. The facility will be undrawn at closing and carries an accordion feature allowing for an additional $250 million of capacity, subject to customary terms and conditions.
  • Ares Management Corporation and Aviation Industry Veterans Announce Launch of Vmo Aircraft Leasing
    January 12, 2021
    Ares Management Corporation (NYSE: ARES) and aviation industry veterans, including Bob Brown, Sean Sullivan and Will Hudson, announced today the launch of Vmo Aircraft Leasing L.P. (“Vmo”), a newly-formed company to acquire and lease commercial aircraft. Funds managed by Ares’ Private Equity Group and Vmo management have committed approximately $500 million in initial equity capital to support Vmo, which will target a global and diversified portfolio of modern, next-generation and efficient commercial aircraft.
  • Middle Market Companies Will Pivot to New Potential in 2021– BDO Survey
    January 12, 2021
    Middle-market companies took advantage of newfound clarity in crisis and are poised not just for a return but a renaissance. According to the 2021 BDO Middle Market CFO Outlook Survey, CFOs anticipate the new year will bring recovery and new opportunities. A majority forecast economic recovery (60%) and revenue increases (56%) in 2021. While financial forecasts vary, industries like technology, life sciences and healthcare that helped to power business continuity and advance COVID-19 care are particularly optimistic for growth in 2021.
  • Sterling Bancorp Announces Senior Management Changes; Luis Massiani to Transition to COO, Bea Ordonez to Join as CFO
    January 11, 2021
    Sterling Bancorp (NYSE: STL) (the “Company”), parent company of Sterling National Bank (the “Bank”), announced today that Luis Massiani will transition to the role of Chief Operating Officer of the Company and continue his position as President of the Bank. Luis will maintain his duties as CFO of the Company and the Bank through February 28, 2021, at which time he will fully transition to COO of the Company. In connection with Luis’ transition, Bea Ordonez has joined the organization as Executive Vice President and will assume the role of CFO of both the Company and the Bank effective as of March 1, 2021.
  • Abacus Finance, at its 10th Anniversary, Promotes Lee, Wise and Rendell
    January 11, 2021
    Now celebrating its tenth anniversary, 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 three promotions that are effective immediately: Joseph Lee – from Senior Associate to Vice President Jacob Wise –from Analyst to Associate, and Austin Rendell – from Analyst to Associate
  • Christopher & Banks Inches Closer to the Brink as it Defaults on Multiple Obligations
    January 11, 2021
    Christopher & Banks disclosed on Thursday a cascade of defaults earlier this month on financial obligations, including key loans and the lease on its headquarters, according to a securities filing. Specifically, the distressed apparel seller said it has received notices of default on a term loan, secured vendor program, credit facility and the lease on its corporate headquarters. The company said it is working with advisers to evaluate the default notices and negotiating with lenders to resolve its outstanding obligations.
  • EasyJet Signs New Five-year Term Loan Facility
    January 11, 2021
    UK airline EasyJet announced a new five-year term loan facility of $1.87 billion (c.£1.4 billion) on Friday, which will be secured on aircraft upon drawing. “This facility will significantly extend and improve EasyJet’s debt maturity profile and increase the level of liquidity available,” CEO Johan Lundgren said in a statement. The facility is underwritten by a syndicate of banks and supported by a partial guarantee from UK Export Finance under their Export Development Guarantee scheme, the airline said.
  • Crestmark Provides More Than $79 Million in Commercial Financing to 87 Businesses in the Second Half of December
    January 11, 2021
    Crestmark secured a total of $9,700,000 in ABL financial solutions for four new clients; Crestmark Equipment Finance provided $25,440,689 in ten new lease transactions; Crestmark Vendor Finance provided $5,792,233 in 65 new lease transactions; and the Government Guaranteed Lending group provided $38,165,000 in financing for eight new clients in the second half of December.
  • Edgewater Capital Partners Acquires Naprotek, Inc.
    January 11, 2021
    Naprotek, Inc. (“Naprotek” or the “Company”) has secured financing from TCF National Bank (“TCF”) and Patriot Capital, LP (“Patriot”) in connection with its acquisition by Edgewater Capital Partners (“Edgewater”). FocalPoint Partners, LLC (“FocalPoint”) served as financial advisor to Edgewater, providing exclusive buyside and debt advisory service in the process.
  • Affimed Announces €25 Million Debt Financing Agreement with Silicon Valley Bank
    January 11, 2021
    Affimed N.V. (Nasdaq: AFMD), a clinical-stage immuno-oncology company committed to giving patients back their innate ability to fight cancer, today announced that it has entered into a debt financing agreement with Silicon Valley Bank German Branch (SVB) which provides Affimed with up to €25 million in term loans.
  • Porter Capital Announces Additional Funding Products for Businesses with PPP Loans
    January 11, 2021
    Porter Capital, a leading provider of accounts receivable financing and asset-based lending solutions for businesses nationwide, has announced it will provide additional funding to businesses in need of more than their current PPP loan offers.
  • DFG Investment Advisers Becomes Vibrant Capital Partners
    January 11, 2021
    DFG Investment Advisers, Inc., a leading alternative credit investment manager, today announced that it has changed its name to Vibrant Capital Partners, Inc. The new name unifies the firm with its CLO business and several of its investment vehicles, which have operated under the Vibrant brand since 2012. In connection with the renaming, the firm has launched a new website, www.vibrantcapitalpartners.com.
  • Dwight Funding Expands Business Development Team
    January 11, 2021
    Dwight Funding is pleased to announce that Duy Nguyen has joined the firm as Director of Business Development. In this position, Duy will be responsible for maintaining and strengthening relationships with bank partners, other finance companies, referral sources and clients directly.
  • Main Street Announces New Portfolio Investment Invests $51.7 Million in Bolder Panther Group, LLC
    January 11, 2021
    Main Street Capital Corporation (NYSE: MAIN) ("Main Street") is pleased to announce that it recently completed a new portfolio investment to facilitate the minority recapitalization of Bolder Panther Group, LLC (the "Company" or "Smoker Friendly"), one of the largest retailers of tobacco products in the United States. Main Street partnered with the Company's senior management team and other existing shareholders to facilitate the transaction, with Main Street funding $51.7 million in a combination of first-lien, senior secured term debt and a direct preferred equity investment.
  • Moritt Hock & Hamroff Announces 2021 Attorney Promotions
    January 11, 2021
    Moritt Hock & Hamroff has announced that Jill T. Braunstein, formerly counsel of the firm, has been elevated to partner, that Brian P. Boland and Christine H. Price, formerly associates of the firm, have each been elevated to counsel, and that Stephen Breidenbach, formerly an associate of the firm, has been elevated to assistant general counsel-technology, effective January 1, 2021.
  • Clear Thinking Group Promotes Brian Allen to Partner
    January 11, 2021
    Clear Thinking Group LLC is pleased to announce the promotion of Brian Allen to Partner effective immediately. Mr. Allen has over 25 years of experience serving in senior finance positions with both public and private companies. As a consultant for the past thirteen years, Mr. Allen has been engaged by numerous companies in the consumer product, retail, and manufacturing industries to improve financial operations and performance through strategic and financial alternatives.
  • Coronavirus Drives Auto Bankruptcies Higher
    January 11, 2021
    Coronavirus-driven reduction in demand, and operational and supply chain disruptions, have resulted in a material uptick in bankruptcies and distress in the U.S. automotive industry, according to a new Fitch Ratings report.
  • eCapital Provides Over $10 Million in Increased Factoring Facilities to Support COVID-19 Efforts
    January 11, 2021
    eCapital Commercial Finance (“eCapital”), a division of eCapital Corp., a leading North American alternative financing solution provider for small and medium-sized businesses, today announced it delivered over $10 million in additional funding to clients with existing factoring facilities during the COVID-19 pandemic to help them meet demand for products and services. The company leveraged its factoring solutions to support businesses with a diverse range of operations from warehouse support to staffing for healthcare professionals to vaccine preparations.
  • Marathon Asset Management Closes $2.5 Billion Distressed Fund
    January 11, 2021
    Marathon Asset Management ("Marathon"), a leading global credit investment manager, today announced the final close for its Marathon Distressed Credit Fund, which was oversubscribed with approximately $2.5 billion in commitments. The fund will invest in a wide range of situations by providing capital solutions that allow companies to grow or reposition their businesses, including stressed and distressed companies in transition.
  • Scripps Completes Acquisition of ION Media from Black Diamond, Creating New National Networks Business
    January 11, 2021
    Methuselah Advisors and Morgan Stanley & Co. LLC acted as financial advisors to Scripps and arranged the preferred equity investment by Berkshire Hathaway. Morgan Stanley Senior Funding Inc. provided the financing commitments for the secured and unsecured debt. Ernst & Young Capital Advisors, LLC served as debt advisor.
  • AlixPartners Announces Managing Director Promotions
    January 11, 2021
    AlixPartners, the global consulting firm, announced today the promotion of 12 individuals to the role of Managing Director, effective January 1, 2021. Simon Freakley, Chief Executive Officer of AlixPartners, said, "These promotions recognize the inspiring leadership and contributions of our new Managing Directors. I am very pleased to congratulate each of these outstanding colleagues whose work for our clients to help their businesses succeed during these disruptive times is more critical than ever.”
  • Monroe Capital Supports Vivo Capital LLC’s Acquisition of Serán Bioscience, Inc.
    January 11, 2021
    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 Serán Bioscience, Inc. (“Serán”) by private equity sponsor Vivo Capital LLC.
  • FocalPoint Secures Financing for Edgewater Capital Partners
    January 11, 2021
    Naprotek, Inc. (“Naprotek” or the “Company”) has secured financing from TCF National Bank (“TCF”) and Patriot Capital, LP (“Patriot”) in connection with its acquisition by Edgewater Capital Partners (“Edgewater”). FocalPoint Partners, LLC (“FocalPoint”) served as financial advisor to Edgewater, providing exclusive buyside and debt advisory service in the process. Based in San Jose, CA, Naprotek is an electronics manufacturing services (“EMS”) company and a leading provider of quick turn printed circuit board assembly (“PCBA”) services for high-reliability (“Hi-Rel”) applications in the defense, space, medical, semiconductor, and specialty industrial markets.
  • TradeCap Partners Provides $1,200,000 Purchase Order Finance Facility for Pacific Northwest Household Products Importer
    January 8, 2021
    TradeCap Partners recently facilitated the closing of a $1,200,000 purchase order finance facility for an importer of household products based in Oregon. TradeCap was introduced by the Company’s financial advisor. Supply chain disruptions caused by the COVID-19 pandemic have left many retail stores with shortages of daily consumable household goods. One major retailer was in need of immediate supply of goods to fill shortfalls of product existing vendors were not delivering on time.
  • Versant Funding Provides a $4 Million Non-Recourse Factoring Facility to Manufacturer of Precision Airplane Parts
    January 7, 2021
    Versant Funding LLC is pleased to announce it has funded a $4 million non-recourse factoring facility to a manufacturer of precision airplane parts with commercial and military applications. The financial performance of this company was negatively impacted by the pandemic and the existing asset-based lender was putting pressure on the business to refinance the facility as soon as possible.
  • Sun Life Completes Majority Acquisition of Crescent Capital Group LP
    January 7, 2021
    Sun Life Financial Inc. ("Sun Life") (TSX: SLF) (NYSE: SLF) today announced the completion of its 51% majority stake acquisition of Crescent Capital Group LP ("Crescent"), a global alternative credit investment manager. Headquartered in Los Angeles with offices in New York, Boston and London, Crescent has more than 180 partners and employees. Crescent has approximately US$29 billion in Assets under Management (approximately C$39 billion), as of September 30, 2020.
  • Sheppard Mullin Strengthens Finance Practice With Addition of Stacey Rosenberg
    January 7, 2021
    Sheppard, Mullin, Richter & Hampton LLP is pleased to announce that Stacey L. Rosenberg has joined the firm’s Los Angeles office as a partner in the Finance & Bankruptcy practice group. Rosenberg was most recently a partner at Hogan Lovells. She is the 15th partner to join Sheppard Mullin in the last year.
  • Palladin Consumer Retail Partners Invests In Leapfrog Brands
    January 7, 2021
    Palladin Consumer Retail Partners, LLC ("Palladin" or "PCRP") (www.pcrp.com) announced today an investment in Leapfrog Brands, LLC ("Leapfrog" or the "Company") (www.leapfrogbrands.com) in partnership with the current owners and senior management team of Kurt Sward, CEO, Rick Ellison, President & COO, Jill Pearson, VP of Sales and Marketing, Glen Gilmore, Director of Design, Austen He, Director of Sourcing and Steve Pinelli, Director of Engineering. The partnership will provide Leapfrog with additional resources to build infrastructure to support its tremendous growth.
  • CBIZ CMF Announces Rebrand to CBIZ Private Equity Advisory
    January 7, 2021
    CBIZ CMF, the private equity consulting practice of CBIZ, Inc. and a leading national advisor to the middle market, today announces it will operate under the new brand name of CBIZ Private Equity Advisory. Having supported more than 300 private equity firms and over 1,500 portfolio companies across North America, CBIZ Private Equity Advisory offers a robust continuum of high-touch and highly specialized services for every stage of the investment lifecycle, from pre-acquisition through exit.
  • Portage Point Strengthens Retail & Consumer Expertise with Industry and Transformation Leader Glenn McMahon
    January 7, 2021
    Portage Point Partners, LLC (Portage Point), a business advisory and interim management firm that partners with stakeholders during periods of transition, underperformance and distress, announced today that Glenn McMahon has joined the firm as a Managing Director. Glenn has over three decades of experience leading all aspects of the consumer lifestyle value stream.
  • Silicon Valley Bank's 10th Annual Healthcare Report Highlights Banner Year in Venture Fundraising, Investing and Exits
    January 7, 2021
    Healthcare venture fundraising soared to $17 billion in 2020, a 57% increase over 2019's record, according to Silicon Valley Bank (SVB), the bank of the world's most innovative companies and their investors. Investment in venture-backed companies also rose to a new high of $51 billion. SVB's 10th annual Healthcare Investments and Exits Report, released today at SVB's Innovate Next virtual summit, analyzes and predicts trends for global venture capital fundraising, investing and exits that shape the biopharma, healthtech, diagnostics/tools (dx/tools) and medical device sectors.
  • Gemino Healthcare Finance Provides Financing for Substance use Disorder Treatment Provider
    January 7, 2021
    Gemino Healthcare Finance is pleased to announce it has provided a $5 million asset-based revolving line of credit to a provider of substance use disorder treatment in December 2020.
  • Sallyport Commercial Finance Provides $4 Million Accounts Receivable Financing Facility to Metal Components Company
    January 7, 2021
    Sallyport Commercial Finance provided a $4mm accounts receivable financing facility to a sponsor-backed metal components company. Our client had their supply-chain deeply affected by COVID-19 and as a result, needed a financing partner to help with their working capital gap caused by delays in shipments out of India and China.
  • Manufacturing Company in New York Chooses TAB Bank for a $1.8 Million Revolving Credit Facility
    January 7, 2021
    A manufacturing company in New York has chosen TAB Bank for a $1.8 million asset-based revolving credit facility. The new facility is extended through a multi-year agreement and will provide the means to fund growth for the company. The company is a manufacturer of woven textile and plastic parts for the automotive, aerospace, office equipment, transportation, and heavy industrial industries.
  • Antero Resources Announces Convertible Debt Refinancing Transaction
    January 7, 2021
    Antero Resources Corporation (NYSE: AR) ("Antero Resources") announced today the pricing of a registered direct offering of 31.4 million shares of its common stock at a price of $6.35 per share to certain holders of its 4.25% Convertible Senior Notes due 2026. Antero Resources plans to use the proceeds from the share offering and approximately $63 million of borrowings under its revolving credit facility to repurchase from such holders $150 million aggregate principal amount of its Convertible Notes in privately negotiated transactions.
  • NextWave HoldCo LLC Announces $200 Million Debt Financing
    January 7, 2021
    NextWave HoldCo LLC, (“NextWave”), an independent holder of 2.5 GHz wireless spectrum in major U.S. metro markets, today announced the signing of a new $200 million Senior Secured First Lien Term Loan Facility (the "Term Loan") provided by Canyon Partners, LLC. NextWave is a portfolio company of Solus Alternative Asset Management and Avenue Capital Group.
  • Tradewind Finance Delivers $5 Million Credit Facility for Meat Trading Company based in USA with Subsidiary in Brazil
    January 7, 2021
    Tradewind Finance has completed a $5 million export factoring facility for a meat trading company that is based in the United States and has a subsidiary in Brazil. The company exports to the Middle East, South Africa, and Asia and is using the funding to support their growth. The company needed additional credit lines to expand their business but encountered difficulty securing them.
  • SFNet CEO Discusses Plans for New Year
    January 7, 2021
    As we come off a year which, in response to the pandemic, was the most interactive with our members in SFNet’s history, and notwithstanding the tumult we have experienced including yesterday’s deeply disturbing events in Washington DC, we are more determined than ever to fulfill our mission of putting capital to work and eager to share our plans to do so in 2021. In consideration of the environment, we continue to shift toward a more accessible and inclusive engagement model; one that offers more frequent and on-demand opportunities for relationship building, accessing information, professional development and expressing our voice in legislative and regulatory matters than ever before.
  • Protos Security and Southfield Capital Announce the Strategic Acquisition of Mulligan Security
    January 6, 2021
    Monroe Capital LLC and Wells Fargo Bank provided debt financing. Troutman Pepper Hamilton Sanders LLP provided legal counsel to Southfield Capital and Protos. Stifel acted as Mulligan's financial advisor. Milbank, LLP provided legal counsel to Mulligan.
  • SG Credit Announces Promotions
    January 6, 2021
    SG Credit Partners continues its growth as a leading credit fund by promoting high performing team members from within. Spencer Brown and Oren Moses have each been promoted to Managing Director, Carlos Tan has been promoted to Principal and Daniel Looker and Gerardo Mora have been promoted to the role of Associate. Both Spencer and Oren joined SG Credit Partners as founding team members and today’s announcement formally recognizes their years of hard work. Spencer moved to Denver to open an office and run a critical region.
  • Tetra Capital Was Named One of the Best Trucking Factoring Companies For the Third Time by FactoringClub
    January 6, 2021
    Tetra Capital, a Utah-based finance company providing factoring services for trucking companies, has been named one of the best trucking factoring companies by FactoringClub, for the third time. Over 100 factoring companies were evaluated for the awards, and winners were selected based on contract terms, integrity, quality of service, and proven track record.
  • Cornerstone Business Credit Announces $100,000 Line of Credit
    January 6, 2021
    Traditional bank financing was not an option due to the start-up nature of this business but that didn’t make a line of credit any less necessary. Vendors had to be paid to keep product flowing to the growing customer base. Cornerstone quickly approved and closed an expandable line of credit to provide the necessary working capital.
  • Texas Capital Bank Provides Revolving Line of Credit for Pacific Coast Capital
    January 6, 2021
    Texas Capital Bank announced today that it has provided a Revolving Line of Credit for Irvine, CA-based Pacific Coast Capital, LLC. Pacific Coast Capital (“PCC”), is a non-regulated specialty finance lending firm that provides asset-based lending solutions to lower and middle-market businesses across all industries. The funds will be used to support future growth.
  • WSFS Bank Continues to Expand Commercial Banking Team in Philadelphia with Addition of Three Experienced Relationship Managers
    January 6, 2021
    WSFS Bank, the primary subsidiary of WSFS Financial Corporation (Nasdaq: WSFS), today announced the further expansion of its Commercial Banking team in the Greater Philadelphia region with the addition of three Commercial Lending Relationship Managers. Kimberly Godshall, Duane Lacsamana and Scott Woll, Jr. join the WSFS team, reporting to Patrick Fisher, Senior Vice President, Philadelphia Team Lead – Commercial Banking.
  • U.S. Bankruptcy Filings hit 35-year low Thanks to Government Pandemic Aid
    January 6, 2021
    U.S. bankruptcy filings for 2020 hit their lowest level since 1986 as a flood of government support programs offset at least temporarily the full brunt of the coronavirus pandemic and a related recession, Epiq AACER reported on Friday. The firm’s compilation of bankruptcy cases showed the Chapter 11 filings used to reorganize larger businesses still jumped 29% in 2020 to 7,128, compared to 5,158 in 2019, a tally that included major retailers like J.C. Penney driven under by the biggest economic downturn in a century.
  • 2021 NBFI Outlooks Highlight An Uncertain Economic Recovery
    January 6, 2021
    Fitch Ratings-New York/London-05 January 2021: Rating Outlooks have turned Negative for many non-bank financial institution (NBFI) sub-sectors compared to the start of 2020, reflecting negative pressures from the operating environment on asset quality, earnings and support-driven ratings, says Fitch Ratings in its "2021 Outlook: Global Non-Bank Financial Institutions Compendium".
  • AssetMark Closes $250 Million Revolving Credit Facility, Retires Existing Term Loan
    January 6, 2021
    AssetMark Financial Holdings, Inc. (NYSE: AMK) announced today that it has entered into a new Credit Agreement with six banks, including Bank of Montreal serving as administrative agent. The Credit Agreement provides for a $250 million secured revolving Credit Facility.
  • John Mills Joins Jones Walker
    January 6, 2021
    Jones Walker LLP announced today that John Mills joined the firm as a partner in the Litigation Practice Group in the Atlanta office. John represents clients in a wide range of matters, with an emphasis on corporate workouts and restructuring. His legal practice focuses on business disputes, the sale and acquisition of distressed assets, corporate bankruptcy, and debtor and creditor rights litigation. He regularly advises secured and unsecured creditors, debtors, and other parties on issues such as corporate reorganization, debtor-in-possession financing, and the sale and acquisition of distressed assets.
  • Top Ten TSL Express Stories of 2020
    January 6, 2021
    As we look forward to the year ahead and continuing to provide our readers with content to help you see around corners and manage the ongoing uncertainty, we wanted to highlight the most-read articles from 2020.
  • Turnkey LED Lighting Systems and Controls Provider Orion Secures Expanded $25M Revolving Credit Facility with Bank of America, N.A.
    January 5, 2021
    Orion Energy Systems, Inc. (NASDAQ: OESX) (Orion Lighting), is a provider of LED lighting systems and turnkey project implementation, including installation and commissioning of fixtures, controls and IoT capabilities, ongoing system maintenance and program management. Orion today announced it entered into a new and expanded five-year $25.0 million revolving credit facility with Bank of America, N.A. effective December 29, 2020.
  • Tuesday Morning Successfully Completes Restructuring Process
    January 5, 2021
    Tuesday Morning and certain of its subsidiaries (collectively “Tuesday Morning” or the “Company”) today announced that it has successfully completed its financial and operational reorganization and emerged from Chapter 11. Tuesday Morning is supported by a $110 million asset-backed lending facility provided by J.P. Morgan, Wells Fargo, and Bank of America. The Company has further optimized its store footprint and is emerging with 490 of its best performing stores.
  • Geoffrey Hiscock to Join FrontWell Capital Partners as Senior Vice President, Originations
    January 5, 2021
    FrontWell Capital Partners (“FrontWell”), a private credit fund that provides transitionary senior debt financing to middle-market companies in the United States and Canada, today announced that Geoffrey Hiscock has been appointed Senior Vice President, Originations. Mr. Hiscock will join the firm on January 11, 2021 from Canadian asset-based lender Waygar Capital, where he served as Managing Director, Head of Originations. Mr. Hiscock, who brings more than 25 years of experience in origination, underwriting and portfolio management to FrontWell, will be based in the firm’s Toronto headquarters.
  • Revolution Capital Acquires Atlantic Gateway Inc.
    January 5, 2021
    Revolution Capital, the leading provider of factoring & cash-flow financing in Canada and the United States, has acquired Atlantic Gateway Inc., a boutique factoring firm specializing in transportation factoring. The consolidation is an important step towards standardizing customer service standards across the industry. The factoring services provided by Atlantic Gateway Inc. have been integral to the growth of numerous companies across North America who will now have access to industry-leading tools and resources.
  • Fifth Third Completes Acquisition of Hammond Hanlon Camp LLC
    January 5, 2021
    Founded in 2011, H2C is a premier strategic advisory and investment banking firm with an emphasis on healthcare organizations, including specialized expertise in the not-for-profit sector. Its core advisory services include mergers, acquisitions and divestitures, partnerships and strategic growth, capital markets and real estate investment banking. Alston & Bird LLP acted as legal advisor to Fifth Third. Houlihan Lokey acted as financial advisor and Winston & Strawn acted as legal advisor to H2C.
  • Landec Corporation Announces Comprehensive Refinancing of Credit Facilities
    January 5, 2021
    The new structure includes a five-year $170.0 million uni-tranche term loan agented by Goldman Sachs Specialty Lending Group, L.P. (“Goldman Sachs”) and split equally with Guggenheim Credit Services, LLC (“Guggenheim”) and a $75.0 million asset-based line of credit provided by BMO Harris Bank N.A. (“BMO”), a lender under the Company’s prior credit facilities, which matures in five years subject to a springing maturity date described herein.
  • Centerra Gold Announces New Corporate Credit Facility
    January 5, 2021
    Centerra Gold Inc. (“Centerra”) (TSX: CG) announced today it has entered into a new U.S.$400 million four-year revolving credit facility plus a U.S.$200 million accordion feature (the "Credit Facility"). The Credit Facility is led by The Bank of Nova Scotia, National Bank Financial Markets and HSBC Canada Bank and is supported by a syndicate of international financial institutions. The interest rate payable on any outstanding borrowings is LIBOR plus 2.25% to 3.25%. The Credit Facility replaced Centerra’s previous U.S.$500 million revolving credit facility.
  • Horizon Technology Finance and Silicon Valley Bank Provide $20 Million Venture Loan Facility for Canary Medical
    January 5, 2021
    Horizon Technology Finance Corporation (NASDAQ: HRZN) ("Horizon"), a leading specialty finance company that provides capital in the form of secured loans to venture capital backed companies in the technology, life science, healthcare information and services, and sustainability industries, along with lending partner, Silicon Valley Bank ("SVB"), a provider of financial solutions for growth-oriented companies, announced today that on December 31, 2020 they provided a $20 million venture loan facility to Canary Medical, Inc. ("Canary Medical"), a medical data company improving healthcare outcomes with its proprietary smart medical devices.
  • Armstrong Teasdale Opens in Delaware
    January 5, 2021
    Armstrong Teasdale proudly announces its intent to establish a physical presence in Wilmington, Delaware. This marks the firm’s seventh office opening in the past two and a half years. Armstrong Teasdale will initially welcome a team of four partners, with plans to expand in the market. Partners Shelley A. Kinsella, Jonathan M. Stemerman, Eric M. Sutty and Rafael X. Zahralddin join the firm, effective Jan. 4, 2021. In 2020, Armstrong Teasdale added more than 100 attorneys and staff professionals to its ranks across the country.
  • FTI Consulting Promotes 18 Professionals to Senior Managing Director in the Corporate Finance & Restructuring Segment
    January 5, 2021
    FTI Consulting, Inc. (NYSE: FCN) today announced the promotion of 18 professionals within the firm’s Corporate Finance & Restructuring segment to Senior Managing Director, effective Jan. 1, 2021. The promotions include Alexis Anaman, Jamie Belcher, Michael Bui, Jose Cepeda, Francesco Di Ianni, Ian Duncan, Andy Hall, Peter Heinz, Darin Miller, Riccardo Pacelli, Liz Park, Daniele Pe, Dave Phillips, Kevin Rea, Lisa Rickelton, Mukesh Shah, Vincent Stevens and Daniel Woodhouse.
  • Kristen Palmer Joins Black Olive Capital LLC as VP of Underwriting
    January 5, 2021
    Kristen brings over 10 years of industry knowledge and expertise to Black Olive. She has served as Operation Specialist, Lead Underwriter, and business development officer for several revered boutique lenders in the industry. Kristen has extensive experience in the inventory and purchase order finance space.
  • FinSoft, LLC Celebrates 25 Years
    January 5, 2021
    In the past 25 years we went from a startup to a proven company with products that span the underwriting and due diligence needs associated with auditing (AssetWriter), data gathering for Operations and Audit (AsseReader), time-series fraud reduction (AssetArchive) and our ongoing contributions to ABL-Help and training with www.ABLTrain.com.
  • Rosenthal Provides $950,000 Production Finance Facility for California-based Cosmetic and Beauty Company
    January 5, 2021
    Rosenthal & Rosenthal, Inc., the leading factoring, asset-based lending and purchase order financing firm in the U.S., today announced the completion of a recent $950,000 purchase order finance facility to support the production financing requirements of a California-based cosmetic and beauty products company. A seasoned entrepreneur who had successfully built and sold a beauty and wellness business was now at the helm of a new beauty brand incubator.
  • Great Rock Capital Provides $11.8 Million of Liquidity through Senior Secured Credit Facility
    January 5, 2021
    Great Rock Capital, an asset-focused commercial finance company specializing in middle market lending, today announced it has provided $11.8 million of capital through a senior secured credit facility to support one of North America’s leading providers of high-quality catalog solutions. The facility was used to finance an acquisition and will provide additional liquidity to support the Company’s future growth.
  • Inventories From Last 3 Facilities of Major Distributor of Disposable and Durable Medical Supplies to be Auctioned by Tiger Group on Jan. 12-14
    January 5, 2021
    Online wind-down event offers PPE and other items from American Medical Depot’s FL, NC & NY warehouses; material handling, warehouse and office assets also up for bid. Following private treaty bulk sales and successful auctions of assets from three of American Medical Depot’s (AMD) six facilities, Tiger Group will wrap up the wind-down of this major distributor of medical equipment and supplies with online auctions in mid-January for in excess of $16 million in inventories plus other assets from the company’s three remaining locations.
  • White Oak Healthcare MOB REIT Acquires 3 Class-A Medical Office Buildings in Southern Florida
    January 5, 2021
    White Oak Healthcare MOB REIT today announced it has acquired three Class-A medical office buildings in Southern Florida. The stabilized assets, Estero Medical Center, located in Estero, Florida and Oak Point I & II in Vero Beach, Florida, total 77,363 square feet and are 97.3% leased to a diverse group of physician practices. Oak Point I & II are located within a growing medical micro-market anchored by Cleveland Clinic Indian River Hospital, surgery centers, as well as post operation rehabilitation, skilled nursing and senior living facilities.
  • Match Factors Named a Top Factor Fourth Year Running
    January 5, 2021
    Match Factors, a leading provider of transportation factoring, has once again earned top honors from The FactoringClub, an industry group dedicated to guiding small businesses. For the fourth year in a row, Match Factors received the Best Freight Factor award from the FactoringClub, a leading online resource for finding factoring companies.
  • Fairstone Financial Holdings Inc. Acquired by Duo Bank of Canada
    January 5, 2021
    Duo Bank of Canada ("Duo Bank"), a Toronto-based financial services provider supported by Stephen Smith, Centerbridge Partners L.P. and Ontario Teachers' Pension Plan Board ("Ontario Teachers'"), announced today the completion of the acquisition of all outstanding shares of Fairstone Financial Holdings Inc. ("Fairstone" or the "Company"). Headquartered in Montreal, Fairstone is Canada's leading provider of responsible credit solutions for near-prime borrowers with over $3 billion in assets on a consolidated basis.
  • North Mill Equipment Finance, LLC Sets Multiple Records in 2020 as Originations Reach All-Time High
    January 4, 2021
    North Mill Equipment Finance LLC (“North Mill”), a leading independent commercial equipment lessor located in Norwalk, Connecticut, announced today that 2020 was the best twelve months in the company’s 60-year history as loan and lease originations reached an all-time high. Reporting upsurges in volume throughout 2020, the organization beat each of its prior high-water marks as new records were set for annual, quarterly, and monthly volume as December came to a close.
  • Greenbrook TMS Closes $30 Million Credit Facility With Oxford Finance LLC
    January 4, 2021
    Greenbrook TMS Inc. (TSX: GTMS) (“Greenbrook” or the “Company”), a leading provider of Transcranial Magnetic Stimulation (“TMS”) therapy in the United States, announced today that it and its subsidiaries have entered into a credit and security agreement for a US$30 million secured credit facility (the “Credit Facility”) with Oxford Finance LLC (“Oxford”). Bloom Burton Securities Inc. acted as the Company’s sole financial adviser in connection with the transaction.
  • Power Solutions International Announces Amendment to Credit Agreement
    January 4, 2021
    Power Solutions International, Inc. (“the Company”) (OTC Pink: PSIX), a leader in the design, engineering and manufacture of emission-certified engines and power systems, announced that it entered into a first amendment to its one-year senior secured revolving credit facility pursuant to that certain credit agreement dated March 27, 2020, between the Company and Standard Chartered Bank (“Standard Chartered”).
  • MidCap Business Credit Closes on a $6 Million Asset-Based Credit Facility
    January 4, 2021
    The opportunity was sourced out of MidCap’s headquarters in West Hartford, CT. Seth Cooper, Senior Vice President of MidCap Business Credit said, “We were able to structure a flexible credit facility for the sponsor and close quickly, which will assist them in helping the business achieve their financial objectives”.
  • MidFirst Business Credit Announces New Lending Relationship with Morcon, Inc.
    January 4, 2021
    MidFirst Business Credit (MFBC) announced it has provided $8.5 million in working capital and capital expenditure facilities to Morcon, Inc. (Morcon). Located in Eagle Bridge, NY, Morcon is a commercial paper tissue converting company with three primary product lines: tissue, towel and napkins. The funds were used to provide additional working capital and help facilitate further business expansion. The transaction was completed on December 22, 2020.
  • J D Factors Announces Factoring Facilities
    January 4, 2021
    J D Factors announced it had provided the following factoring facilities: $50,000 to a transportation company in Kentucky; $400,000 to a transportation company in Illinois; $50,000 to a transportation company in Texas and $250,000 to a transportation company in Georgia.
  • Encina Business Credit Provides $30 Million Revolving Credit Facility to E-Commerce Retailer
    January 4, 2021
    Encina Business Credit, LLC announced today that it has provided a $30 million senior secured revolving credit facility to an e-commerce retailer. The senior secured revolving line of credit, which is collateralized by accounts receivable, credit card receivables, and inventory, was used by the company’s private equity investor to finance its acquisition and ongoing working capital financing needs.
  • Siena Healthcare Finance Provides $15MM Working Capital Facility to California-Based SNF
    January 4, 2021
    Siena Healthcare Finance recently closed on a $15 million asset-based line of credit for a skilled nursing operator based in California. The line was used to refinance an existing credit facility and provide working capital to support ongoing operations.
  • Perella Weinberg Partners and FinTech IV Announce Execution of Definitive Business Combination Agreement
    January 4, 2021
    Perella Weinberg Partners (“PWP”), a leading global independent advisory firm, and FinTech Acquisition Corp. IV (NASDAQ: FTIV) (“FinTech IV”), a special purpose acquisition company, announced today that they have entered into a definitive business combination agreement. Upon closing of the transaction, the combined company (the “Company”) will operate as Perella Weinberg Partners and will be listed on NASDAQ under the new symbol “PWP.” The transaction reflects an implied equity value for the Company of approximately $975 million.
  • TAB Bank Provides $4 Million Senior Credit Facility to The Good Bean
    January 4, 2021
    TAB Bank is pleased to announce it has entered into a multi-year agreement with The Good Bean to provide a $4 million revolving credit facility. The facility was used to provide for the company’s ongoing working capital needs as it continues grow and expand the reach of its portfolio of healthy plant-based snacks, confections, and other innovations.
  • Horizon Technology Finance Provides $5 Million Venture Loan to Corinth MedTech
    January 4, 2021
    Horizon Technology Finance Corporation (NASDAQ: HRZN) ("Horizon"), a leading specialty finance company that provides capital in the form of secured loans to venture capital backed companies in the technology, life science, healthcare information and services, and sustainability industries, announced today it has provided a $5 million venture loan to Corinth MedTech, Inc. ("Corinth").
  • Wave Computing and MIPS Technologies Reach Agreement to Exit Bankruptcy
    January 4, 2021
    Company expects to exit bankruptcy in January 2021 pending creditor and court approval of Tallwood-led reorganization plan. A team from Sidley Austin LLP led by Sam Newman is serving as legal counsel to Wave, SierraConstellation Partners is serving as financial and restructuring adviser, and Armory Securities is serving as investment banker. Binder & Malter LLP is serving as legal counsel to Tallwood
  • J.F. Lehman & Company Acquires CTS Engines; Barings Finance and Siemens Financial Services Provide Debt Financing
    January 4, 2021
    Debt financing for the transaction was provided by Barings Finance and Siemens Financial Services. Jones Day served as lead legal counsel for J.F. Lehman & Company. Baker Hostetler provided Government Contracts, Defense Security and International Trade advice to J.F. Lehman & Company. William Blair served as lead financial advisor to CTS, and Lincoln International served as co-advisor. Bartlit Beck provided legal counsel to CTS and the selling equityholders.
  • Harvest Capital Credit to Merge Into Portman Ridge Finance
    January 4, 2021
    Harvest Capital Credit Corp. entered into a definitive agreement to merge with and into Portman Ridge Finance Corp., a business development company managed by Sierra Crest Investment Management LLC. The transaction was unanimously approved by Harvest Capital's special committee and board as well as Portman Ridge's board. The parties expect the merger to be completed by the second quarter of 2021.
  • BankProv Expands Small Business Lending Team with New Experienced Lenders
    January 4, 2021
    BankProv, an innovative, commercial bank that finds solutions for business and private clients, has grown its small business lending team with two new hires: Joel Gianninoto, Vice President, Commercial Lending, and Ryan Fox, Assistant Vice President, Commercial Lending. Joel Gianninoto joined BankProv in March 2020 with almost 10 years of banking experience, having previously held positions at Citizens Financial Group and Salem Five Bank.
  • NFI Group Announces Amendments to its Credit Facilities
    January 4, 2021
    NFI Group Inc. ("NFI" or the "Company") today announced it has amended the Revolver and the UK Facility (together, the "Facilities"), providing meaningful covenant relief and additional flexibility, and cancelled the $250 million Sidecar. The Bank of Nova Scotia is the Administrative Agent for the Revolver and The Bank of Nova Scotia, BMO Capital Markets, and National Bank Financial Inc. are the Joint Bookrunners. The Revolver syndicate also includes The Canadian Imperial Bank of Commerce; Bank of America, Canada Branch; Wells Fargo Bank, N.A., Canadian Branch; The Toronto Dominion Bank; HSBC Bank Canada; MUFG Bank Ltd., Canada Branch; Export Development Canada and ICICI Bank Canada.
  • Wolters Kluwer Enhances End-to-End User Experience for Latest PPP Funding Through TSoftPlus Software and eOriginal Platform
    January 4, 2021
    In anticipation of the recently announced U.S. fiscal stimulus package, which provides $284.5 billion in additional Paycheck Protection Program (PPP) stimulus funding, Wolters Kluwer’s Compliance Solutions business has further enhanced its award-winning Paycheck Protection Program Supported by TSoftPlus™ software to expedite Small Business Administration (SBA) loan applications. Thanks to its recently announced acquisition of eOriginal, Wolters Kluwer Compliance Solutions is also able to offer a digital loan platform that enables compliance with SBA Appendix 8 mandates for digital loans.
  • Chris Szopa Joins 36th Street Capital as Director of Capital Markets and In‐House Counsel
    January 4, 2021
    36th Street Capital Partners, LLC (“36th Street Capital”), an independent provider of equipment financing solutions, announced the appointment of Christopher Szopa as Director of Capital Markets and In-House Counsel.
  • Celtic Capital Corporation Announces New Client Relationship
    January 4, 2021
    Celtic Capital Corporation today announced its most recent new client relationship – a Colorado-based wood mill and veneer manufacturer. Referred by a bank from which we’ve taken out many clients, this deal came to Celtic Capital for financing to complete the build-out of its plant and to provide this year-and-a-half old company with working capital.
  • Ashford Hospitality Trust Secures Commitment For $200 Million Corporate Financing With Ability To Upsize To $350 Million
    January 4, 2021
    Ashford Hospitality Trust, Inc. (NYSE: AHT) ("Ashford Trust" or the "Company") today announced that the Company has secured a strategic financing commitment from funds managed by Oaktree Capital Management, L.P. ("Oaktree") to provide a $200 million senior secured term loan ("Loan"). In addition, the financing commitment can be upsized by $150 million to an aggregate amount of $350 million. RBC Capital Markets, LLC served as the Company's financial advisor on the transaction, and Weil, Gotshal & Manges LLP and Cadwalader, Wickersham & Taft LLP served as legal counsel.
  • Sunflower Bank’s Leveraged Finance Team Provides Senior Debt Financing to Modus
    January 4, 2021
    Sunflower Bank, N.A. is pleased to announce that its Leveraged Finance team served as joint lead srranger for a senior debt facility that was led by KeyBanc Capital Markets . The senior debt facility supported the acquisition of NextEdge Networks Holdings and its wholly-owned subsidiary, Modus (collectively “Modus”) by Bow River Capital. The transaction closed in August 2020.
  • Crestmark Provides More Than $83.9 Million in Commercial Financing to 93 Businesses in the First Half of December
    January 4, 2021
    Crestmark secured a total of $38,250,000 in ABL financial solutions for 12 new clients; Crestmark Equipment Finance provided $7,262,607 in six new lease transactions; Crestmark Vendor Finance provided $6,451,914 in 67 new lease transactions; the Joint Ventures Division provided $13,506,620 in four new transactions; and the Government Guaranteed Lending group provided $18,470,800 in financing for four new clients in the first half of December.
  • M.D.C. Holdings Announces Expanded Credit Facility
    January 4, 2021
    A total of ten lenders are participating in the facility with U.S. Bank National Association, as designated agent and co-administrative agent, Citibank, N.A., as co-administrative agent, and Truist Bank (formerly known as SunTrust Bank), Bank of the West and PNC Bank, National Association, as co-syndication agents. The other lenders are Regions Bank, JPMorgan Chase Bank, N.A., UMB Bank, N.A., Texas Capital Bank, National Association and Zions Bancorporation, N.A. (dba Vectra Bank of Colorado).
  • Monroe Capital Supports Dude Solutions, Inc.’s Add-on Acquisition of Confirm Solutions Limited
    January 4, 2021
    Monroe Capital LLC today announced it acted as administrative agent on the funding of a senior credit facility to support the acquisition of Confirm Solutions Limited (“Confirm”) by Dude Solutions, Inc. (“Dude Solutions”), an existing portfolio company of Clearlake Capital Group, L.P.
  • Oxygen Closes $17 Million Series A Funding Round to Build the Banking Platform for the 21st Century Economy
    January 4, 2021
    Digital banking platform Oxygen today announced a $17 million Series A round of funding. The round was led by Runa Capital, with participation from S7V, 1984.vc, EFG Hermes, Rucker Park, and Inventures, in addition to celebrity and prominent fintech investors, including Frank Strauss, Global CEO of the Private & Commercial Bank for Deutsche Bank AG, William Hockey, Co-Founder of Plaid, Ankur Nagpal, Peter Treadway, and NFL wide receiver Larry Fitzgerald.
  • Sallyport Commercial Finance Helps Canadian Industrial Safety Firm with a $500,000 Accounts Receivable Line of Credit
    January 4, 2021
    Sallyport Commercial Finance delivers a $500,000 accounts receivable facility to an industrial safety firm providing essential medical and rescue services to the oil and gas industry. The business owner was seeking a financing partner that would help him manage the newly awarded contract with his customers and provide assurances to cover payroll.
  • J D Factors Provides Factoring Facilities
    January 4, 2021
    J D Factors announced it has provided the following factoring facilities: $120,000 to a transportation company in Ohio; $100,000 to a transportation company in Alberta; $400,000 to a transportation company in Ontario; $120,000 to a transportation company in Texas
  • Huntington Business Credit Closes $24 Million Credit Facility with Elk Lighting. Inc.
    January 4, 2021
    Huntington Business Credit announced it closed new $24,000,000 credit facilities with Elk Lighting, Inc. on December 15, 2020. Proceeds of the facilities were used to refinance existing indebtedness and support ongoing working capital growth financing.
  • Big Shoulders Capital Funds a Third Generation Driller and Oilfield Services Provider
    December 23, 2020
    Big Shoulders Capital recently funded a third generation driller and oilfield services provider to continue operations after Covid-19 depressed the global energy market. Big Shoulders worked with the new ownership group to improve upon what past generations had built.
  • DXP Enterprises, Inc. Announces Closing of New Term Loan B
    December 23, 2020
    DXP Enterprises, Inc. (NASDAQ: DXPE) today announced that it has closed on a new $330 million Senior Secured Term Loan B (“TLB”). The TLB matures on December 23, 2027. DXP intends to use the proceeds to repay the existing Term Loan B, which will be terminated on that payment; and the remaining for general corporate purposes, potential acquisitions and transaction fees and expenses. The transaction provides DXP with operational and financial flexibility to reinvest in the business and pursue its strategy around organic and targeted acquisition growth.
  • Pacific Drilling Announces Confirmation of Prearranged Plan of Reorganization; Expected Emergence from Chapter 11 by Year-End
    December 23, 2020
    Pacific Drilling S.A. (OTC: PACDQ) announced today that the United States Bankruptcy Court for the Southern District of Texas confirmed the First Amended Joint Plan of Reorganization of Pacific Drilling S.A. and its Debtor Affiliates Pursuant to Chapter 11 of the Bankruptcy Code (the “Plan”) on December 21, 2020.
  • Tuesday Morning Announces Confirmation of Plan of Reorganization
    December 23, 2020
    Tuesday Morning and certain of its subsidiaries (collectively “Tuesday Morning” or the “Company”) today announced that the U.S. Bankruptcy Court for the Northern District of Texas has confirmed the Company’s Plan of Reorganization (the “Plan”). As a result, Tuesday Morning expects to successfully emerge from Chapter 11 protection by the end of December after it has satisfied the conditions to the effectiveness of the Plan.
  • Guitar Center Concludes Fast-track Reorganization, Eliminating Nearly $800 Million of Debt and Strengthening Its Balance Sheet
    December 23, 2020
    Guitar Center, Inc. (“Guitar Center”) today announced that it has emerged from bankruptcy following the successful consummation of its plan of reorganization (the “Plan”) under chapter 11 of the U.S. Bankruptcy Code. Milbank LLP served as legal counsel to Guitar Center. Houlihan Lokey served as Guitar Center’s financial advisor. BRG served as Guitar Center’s restructuring advisor.
  • Harvard Bioscience Announces New Credit Facility
    December 23, 2020
    The Refinancing was led by Citizens Bank, N.A., as the administrative agent, and Wells Fargo Bank, National Association and Silicon Valley Bank, as joint bookrunners, joint lead arrangers and syndication agents with Citizens. The Credit Agreement provides for a term loan of $40.0 million and a $25.0 million senior revolving credit facility.
  • Apollo Investment Corporation Amends and Extends Its Senior Secured Revolving Credit Facility
    December 23, 2020
    JPMorgan Chase Bank, N.A., Truist Securities, Inc., BMO Capital Markets Corp., and MUFG Union Bank, N.A. are Joint Bookrunners and Joint Lead Arrangers on the Facility. JPMorgan Chase Bank, N.A is the Administrative Agent on the Facility.
  • BridgePoint Financial Expands Senior Secured Credit Facility From $60 Million to $100 Million Based on Strong Performance and new Business Lines
    December 22, 2020
    BridgePoint Financial Services Inc., the general partner of BridgePoint Financial Services Limited Partnership I ("BridgePoint"), Canada's leading provider of specialized loans for the legal services market, is pleased to announce that BridgePoint's senior secured credit facility was recently increased to $100 million to support key growth initiatives for 2021.
  • Ryman Hospitality Properties, Inc. Successfully Extends Credit Facility Waiver Period
    December 22, 2020
    Ryman Hospitality Properties, Inc. (NYSE: RHP) (the “Company”) announced that today it completed a second amendment to the credit agreement governing its $700 million revolving credit facility, $300 million Term Loan A facility and its Term Loan B facility (of which approximately $382.5 million is outstanding), which was obtained from a consortium of banks led by Wells Fargo Bank, National Association, as administrative agent.
  • Utica Leaseco Agrees to Ubiquity Solar Acquiring the Rights to the Assets of Alta Devices
    December 22, 2020
    Ubiquity Solar Inc. (Ubiquity), a photovoltaic (PV) technology company, and Utica Leaseco, LLC (Utica), an asset-based specialty finance company, are pleased to announce the execution of a definitive agreement, whereby Ubiquity has procured from Utica rights to the intellectual property, R&D, production, inventory and other assets (the GaAs Assets) previously part of Alta Devices (Alta) of Sunnyvale, CA. As part of the parties’ transaction, Utica will acquire certain warrants to purchase capital stock of Ubiquity.
  • Specialist Risk Group to be Acquired by HGGC
    December 22, 2020
    Specialist Risk Group ("SRG"), a fast-growing specialist insurance broker, today announced that it has signed a definitive agreement to be acquired by leading middle-market private equity firm HGGC. SRG's management team will invest alongside HGGC and continue to hold a significant stake in the business. The private transaction is expected to close in Q1 2021, subject to regulatory approval. As part of the transaction, existing investor Pollen Street Capital will exit the business.
  • Gerald Group Closes Oversubscribed Revolving Credit Facility
    December 22, 2020
    Gerald Group ("Gerald"), the world's largest independent, employee-owned metals trading house is pleased to have successfully executed its eleventh annual Revolving Credit Facility ("RCF") for US$ 150 million. Gerald Group, supported by its relationship banks Credit Agricole, Credit Suisse, Deutsche Bank, DBS Bank, ING Bank, Rabobank, Banco do Brasil, Banque Cantonale Vaudoise, Erste and UniCredit arranged, documented and executed the RCF within record time of under 2 months.
  • Battle North Gold Signs Commitment Letter for a US$40 Million Credit Facility to Fully Fund the Development of the Bateman Gold Project
    December 22, 2020
    Battle North Gold Corporation (TSX: BNAU) (OTCQX: BNAUF) ("Battle North" or the "Company") is pleased to announce that it has executed a binding commitment letter (the "Commitment Letter") with Macquarie Bank Limited ("Macquarie") for a senior secured term loan facility of US$40 million ("Credit Facility") to be used to fund the construction of the 100%-owned, shovel-ready Bateman Gold Project (the "Project")[1] in Red Lake, Ontario, Canada. The proceeds of the Credit Facility, together with cash currently on the Company's balance sheet, is expected to fully fund the Project to Commercial Production.
  • 8minute Solar Energy Upsizes Letter of Credit Facility to $350 Million and Welcomes Three Leading Project Finance Banks
    December 22, 2020
    After securing a $225 million letter of credit and revolving credit facility earlier this year, 8minute Solar Energy (8minute) has significantly upsized that facility to a total of $350 million with support from new lenders. The additional $125 million in commitments comes from the existing lenders who are joined by Deutsche Bank, Landesbank Hessen-Thüringen (Helaba), and Norddeutsche Landesbank (NORD/LB). Latham & Watkins LLP represented 8minute and Norton Rose Fulbright LLP represented the lenders.
  • Pacific Mercantile Bank Expands Relationship with Simpson Sandblasting & Special Coatings, Inc.
    December 22, 2020
    Pacific Mercantile Bank (“the Bank”), the wholly owned subsidiary of Pacific Mercantile Bancorp (NASDAQ: PMBC), today announced that it has provided a $2.45 million credit facility to Simpson Sandblasting & Special Coatings, Inc. (“Simpson Sandblasting”), a company that first became a client of Pacific Mercantile through the Bank’s participation in the Small Business Administration (“SBA”) Paycheck Protection Program (“PPP”). The new credit facility will be utilized to refinance an existing owner-occupied commercial real estate loan, provide a revolving line of credit for working capital/bonding needs, and provide financing for equipment purchases.
  • SAExploration Successfully Completes Financial Restructuring
    December 22, 2020
    SAExploration Holdings, Inc. (“SAE” or the “Company”) announced today that it has successfully completed its financial restructuring and emerged from Chapter 11 as a private, non-SEC reporting company. As a result of its plan of reorganization, which received broad support from its creditors, the Company has reduced its debt by approximately $74 million, net, thus positioning the Company for future growth. Porter Hedges LLP acted as legal counsel and Imperial Capital, LLC and Winter Harbor LLC acted as financial advisors to SAE in connection with its restructuring efforts. Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal counsel to the ad hoc group of certain consenting creditors in connection with the Chapter 11 cases.
  • Matrix Advises Tri Gas & Oil On the Successful Acquisition of a Leading Refined Fuels Distributor and HVAC Services Business
    December 22, 2020
    Matrix Capital Markets Group, Inc. (“Matrix”), a leading independent investment bank, announces that Tri Gas & Oil Co., Inc. (“Tri Gas & Oil”) and Comfort Plus Services, LLC (“Comfort Plus Services” or “CPS”) or (collectively, the “Company”) has acquired a leading Delmarva Peninsula based refined fuels distributor and HVAC services business. Tri Gas & Oil, and its predecessor entities, have been delivering fuel and providing high levels of customer service throughout the Delmarva Peninsula since the late 1950’s.
  • Veteran Banker, Teresa A. Baker, Joins SouthCrest Bank as Senior Vice President, Relationship Manager
    December 22, 2020
    SouthCrest Bank, a division of SouthCrest Financial Group (SCSG: PK) announces the appointment of well-known and respected 15 year banking veteran Teresa Baker as Senior Vice President and Relationship Manager. Her appointment is another key step in SouthCrest Bank’s strategy to become a dominant private business bank for the Atlanta MSA.
  • PGIM Private Capital Raises $2.23B for Sixth Mezzanine Fund, PGIM Capital Partners VI, L.P.
    December 22, 2020
    PGIM Private Capital has completed fundraising for PGIM Capital Partners VI, L.P., surpassing its fundraising target with capital commitments of $2.23 billion. PGIM Capital Partners VI is more than 20% larger than Fund V, which closed in 2016. PGIM Private Capital is a leading source of private debt for public and private companies and is the private capital arm of PGIM, the $1.4 trillion global investment management businesses of Prudential Financial, Inc. (NYSE: PRU).
  • Monroe Capital Supports Mountaingate Capital’s Investment in Relevate Health Group Inc.
    December 22, 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 investment in Relevate Health Group Inc. (“Relevate”) by private equity sponsor Mountaingate Capital and Relevate’s strategic combination with Arteric. Based in Cincinnati, Ohio, Relevate is a data-driven marketing products and services communications firm.
  • Bridge Bancorp, Inc. and Dime Community Bancshares, Inc. Announce Final Regulatory Approval of Merger of Equals
    December 22, 2020
    Bridge Bancorp, Inc. (Nasdaq: BDGE) (“Bridge”), the parent company of BNB Bank, and Dime Community Bancshares, Inc. (Nasdaq: DCOM) (“Dime”), the parent company of Dime Community Bank, today jointly announced that the parties have received approval from New York State Department of Financial Services to merge Dime Community Bank with and into BNB Bank. The merger is expected to close on February 1, 2021, on which day the combined company will open as the new Dime Community Bank.
  • Sterling National Bank Provides $2,500,000 Secured Credit Facilities
    December 22, 2020
    Sterling National Bank's Commercial Services Group provided senior secured credit facilities totaling $2,500,000 to a nationwide talent management company. Sterling National Bank is one of the leading providers of financing and administrative services for staffing and IT consulting firms nationwide.
  • CohnReznick Expands in Southwest Houston
    December 22, 2020
    CohnReznick LLP, one of the leading advisory, assurance, and tax firms in the United States, today announced a strategic addition to its national Restructuring and Dispute Resolution practice, extending its footprint in the Southwest and expanding its Houston office. Three professionals from Crossroads Strategic Advisors, a respected Houston-based advisory firm founded by Jeff Anapolsky to provide recapitalization and restructuring strategies to middle market companies, are joining CohnReznick.
  • JPMorgan Names James Roddy to Run Corporate Client Banking
    December 21, 2020
    JPMorgan Chase & Co. named James Roddy as global head of corporate client banking and specialized industries in its commercial banking unit. Roddy, previously co-head of diversified industries investment banking, will report to Doug Petno, chief executive officer of JPMorgan’s commercial bank. The commercial bank, JPMorgan’s smallest line of business by revenue, offers deal advice, treasury services and lending to companies that make up to about $2 billion in revenue. The change was announced in a memo to staff Wednesday and confirmed by a spokeswoman.
  • Rosenthal & Rosenthal, Inc. Provides $2.4 Million Purchase Order Finance Facility for Florida-based Government Contractor
    December 21, 2020
    Rosenthal & Rosenthal, Inc., the leading factoring, asset-based lending and purchase order financing firm in the U.S., today announced the completion of a recent purchase order finance facility to support the production financing requirements of a Florida-based minority-owned government contractor.
  • Rubenstein Partners Announces Pennant Park Refinancing
    December 21, 2020
    Rubenstein Partners, L.P., a vertically-integrated real estate investment adviser focused on value-added office opportunities (together with its affiliates, "Rubenstein"), has refinanced Pennant Park, a 6-building office park in Atlanta's Northwest submarket, with a $114 million loan facility provided by Nuveen Real Estate. This transaction comes after the substantial completion of Rubenstein's business plan for the property, which involved approximately $17 million of improvements aimed at transforming the property into a walkable Class-A urban office environment with immediate access to Truist Park, home of the Atlanta Braves, and a growing set of local amenities both on and off campus.
  • Bank of Southern California Hires William (“Bill”) Sloan and Sam Kunianski to Grow Southern California Presence
    December 21, 2020
    Bank of Southern California, N.A. (OTC Pink: BCAL), a community business bank headquartered in San Diego, announced today the addition of two tenured Commercial Banking executives to support the company’s strategic expansion efforts.
  • Team, Inc. Announces Refinancing Of New Capital Structure
    December 21, 2020
    Team, Inc. (NYSE: TISI) a global leading provider of integrated, digitally-enabled asset performance assurance and optimization solutions, today announced the signing of a new $250 million Senior Secured Term Loan due 2026 (the "Term Loan") led by Atlantic Park Strategic Capital Fund, L.P. ("Atlantic Park"). Atlantic Park acted as administrative agent. Concurrent with the signing of the Term Loan, TEAM executed a new $150 million Senior Secured ABL Credit Facility due 2024 (the "ABL Credit Facility") led by Citibank, N.A.
  • Victoria Gold Closes US$200 Million Credit Facility To Refinance Project Debt
    December 21, 2020
    Victoria Gold Corp. (TSX-VGCX) (“Victoria” or the “Company”) is pleased to announce that it has entered into a credit agreement with a syndicate of banks, comprised of Bank of Montreal, as Joint Bookrunner, Co-Lead Arranger and Administrative Agent, CIBC, as Joint Bookrunner and Co-Lead Arranger, and BNP Paribas, as Co-Lead Arranger in connection with a secured US$200 million debt facility (the “Loan Facility”). The Loan Facility is comprised of a US$100 million term loan (the “Term Facility”) and a US$100 million revolving facility (the “Revolving Credit Facility”).
  • Michelle Moore Named Digital Platform Leader at Wells Fargo
    December 21, 2020
    Wells Fargo & Company (NYSE: WFC) today announced that Michelle Moore will join the company as Digital Platform leader, effective Dec. 31, 2020. She will report to Ather Williams III, head of Strategy, Digital and Innovation, and will be based in Charlotte, North Carolina.
  • CPS Announces Renewal of $100 Million Credit Facility
    December 21, 2020
    Consumer Portfolio Services, Inc. (Nasdaq: CPSS) (“CPS” or the “Company”) today announced that on December 18, 2020 it renewed its two-year revolving credit agreement with Citibank, N.A. Loans under the renewed credit agreement will be secured by automobile receivables that CPS now holds, will originate directly, or will purchase from dealers in the future. CPS may borrow on a revolving basis through December 18, 2022, after which CPS will have the option to repay the outstanding loans in full or to allow them to amortize for a one-year period.
  • Rent-A-Center Enters Into Definitive Agreement to Acquire Acima to Create Leading Virtual Lease-to-Own Platform, Accelerate Long-Term Growth
    December 21, 2020
    Rent-A-Center has obtained $1.825 billion in debt financing commitments from J.P. Morgan Securities LLC, Credit Suisse and HSBC Securities (USA) Inc., in connection with the transaction, subject to the terms and conditions of the respective commitment letters. J.P. Morgan Securities LLC is serving as lead financial advisor; Credit Suisse is serving as an additional financial advisor and Sullivan & Cromwell LLP is serving as legal counsel to Rent-A-Center. FT Partners is serving as sole strategic and financial advisor and Wachtell, Lipton, Rosen & Katz is serving as legal counsel to Acima.
  • Fifth Third Business Capital Arranges New Revolving Credit Facility for HB&G Building Products, Inc.
    December 21, 2020
    Fifth Third Business Capital announced it has arranged a new revolving credit facility for HB&G Building Products, Inc. The Deal Team consisted of Ron Kerdasha, Senior Vice President, Business Development; Jeff Seiden, Senior Vice Presiden, Underwriting and Jeffrey Much, Vice President, Portfolio Management.
  • Huntington Business Credit Announces Credit Facility with The Miller Company
    December 21, 2020
    Huntington Business Credit announced it closed a new $15,000,000 credit facility with The Miller Company on December 15, 2020. Proceeds of the facility were used to support the acquisition by Deutsche Invest Capital Partners and to provide ongoing working capital growth financing.
  • J D Factors Announces Factoring Facilities
    December 21, 2020
    J D Factors announced it provided the following factoring facilities: $120,000 to a transportation company in Virginia; $300,000 to a transportation company in Alberta; $150,000 to a transportation company in Texas.
  • NXCR and Westlake Financial Announce $400 Million Debt Facility and Strategic Partnership to Advance NXCR's Vehicle Subscription Platform
    December 21, 2020
    NextCar Holding Company Inc. (NXCR), a fintech and insurtech vehicle subscription platform, and Westlake Financial (Westlake) have signed a letter of intent to secure a NXCR $400 million debt facility, and to enter into a strategic partnership. Westlake is one of the largest automotive lenders in the U.S. with nearly $12 billion in assets under management, and provides indirect financing through a network of over 20,000 new and used car dealerships throughout the U.S.
  • QIAGEN Underlines and Innovates Its Commitment to Sustainability With a EUR 400mn Sustainability-linked Credit Facility
    December 21, 2020
    QIAGEN N.V. (NYSE: QGEN; Frankfurt Prime Standard QIA) announced today that it has successfully concluded a syndicated revolving credit facility for EUR 400mn with an interest rate linked to the company’s environmental, social and governance (ESG) performance. The agreement makes QIAGEN the first provider of molecular diagnostics solutions with a sustainability component built into corporate borrowing. It underlines QIAGEN’s commitment to people and planet by creating financial incentives to further integrate sustainability throughout every part of its business.
  • Capital Southwest Supports IntelliSite’s Acquisition of Broad Sky Networks
    December 21, 2020
    Capital Southwest Corporation (“Capital Southwest”) (Nasdaq: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 recently supported the acquisition of Broad Sky Networks, Inc. (“Broad Sky”) by IntelliSite Corporation (“IntelliSite”), a portfolio company of DFW Capital Partners (“DFW”). Concurrent with the acquisition, IntelliSite created a new international, technology-focused, holding company EPIC IO Technology (“EPIC IO”) comprised of Broad Sky and IntelliSite as independent subsidiaries.
  • Audax Private Debt Provides Financing to Support Add-On Acquisitions and Refinancing for Metalmark Capital’s Portfolio Company, Innovetive Petcare
    December 21, 2020
    Audax Private Debt announced that, as Agent & Sole Lead Arranger, it provided a Second Lien Credit Facility to support add-on acquisitions and a refinancing for Metalmark Capital’s portfolio company, Innovetive Petcare (the “Company” or “Innovetive”). Headquartered in Austin, TX, Innovetive Petcare is a leading acquirer and operator of specialty and general practice veterinary hospitals and clinics for companion animals. The company primarily operates in the south central and southeastern United States.
  • Survey: 60% of Executives Will Continue to Let Employees Work Remotely Post-Pandemic
    December 21, 2020
    While COVID-19 has meant tremendous economic hardship across all business sectors, executives widely feel employees have risen to the occasion regarding productivity as a result of much of the country utilizing a work-from-home ("WFH") model. Furthermore, most of these business leaders will continue to let their employees work remotely after widespread application of a coronavirus vaccine. Those are a pair of key findings from EisnerAmper LLP's executive survey, which gauged the outlook of business leaders throughout the United States.
  • Antares Supports Novacap’s Acquisition of Logibec
    December 21, 2020
    Antares announced today that it served as lead arranger and is acting as administrative agent on senior secured credit facilities to support the acquisition of Logibec by Novacap. Headquartered in Montreal, Canada, Logibec is a Montreal-based healthcare software company.
  • J.P. Morgan Expands Venture Capital Coverage for the Healthcare Industry With the Hiring of Skip Kelly as Managing Director and Relationship Executive
    December 21, 2020
    The healthcare sector continues to attract record levels of venture funding as early-stage startup companies rise to the forefront of delivering critical innovations. Wall Street giant J.P. Morgan’s goal is to bring value to venture capital (VC) firms that are supporting these startup companies through its global network, industry expertise, and tailored financial solutions. To support this goal, today, J.P. Morgan announced the hiring of Skip Kelly as managing director and relationship executive on the Venture Capital Coverage team.
  • Rabobank Announces Leadership Changes in U.S., Canadian Offices
    December 21, 2020
    Rabobank, the leading global food and agribusiness bank, has appointed two of its top executives, Tamira Treffers-Herrera and Robert Sinescu, to become Co-Heads of North American Client Coverage, positioning the Bank for future growth in the region. Treffers-Herrera has also assumed the role of Vice Chairperson and Head of the Atlanta office, where she additionally oversees Rabobank Mexico, which is led by Eduardo Palacios. Sinescu is the Head of the Chicago office, and also oversees Rabobank Canada, led by Marc Drouin, who was recently appointed as Canada's General Manager.
  • PitchBook Releases 2021 Private Equity Outlook Predicting Record Fundraising Year
    December 21, 2020
    PitchBook, the premier data provider for the private and public equity markets, today released its 2021 US Private Equity Outlook, which details predictions for private equity (PE) activity and performance in 2021. This past year defied expectations for most investors and PE managers were no exception. Dealmaking nearly ground to a halt in March but has since recovered rather quickly. Fundraising is on track for another strong year, although emerging managers have had a difficult time in a virtual environment. Exits have also slowed, but there are potential bright spots in the IPO market. Despite the widespread business disruption caused by the pandemic, private market transactions multiples have remained stubbornly high.
  • Exela Technologies Secures Term Loan of $145 Million
    December 17, 2020
    Exela Technologies, Inc. (“Exela”) (NASDAQ: XELA), a location-agnostic global business process automation leader, announced that it has entered into a 5-year, $145 million term loan facility with Angelo Gordon, a global alternative investment firm. The facility provides for an initial funding of approximately $92 million and subject to certain conditions a further funding of approximately $53 million. A portion of the proceeds from the initial funding will be used to retire all debt outstanding under Exela’s accounts receivables securitization facility of approximately $83 million.
  • Aurora Cannabis Revises Credit Facility Terms; Closes Aurora Sun Facility
    December 17, 2020
    Canadian cannabis company Aurora Cannabis Inc. said Wednesday it has reached an agreement with its lenders to extend the maturity of its credit facility to December 31, 2022. The company also said it has ceased operations at the Aurora Sun facility and scaled back production at the Aurora Sky facility to 25 percent of its previous capacity.
  • B&G Foods Announces Closing of Credit Agreement Refinancing
    December 17, 2020
    B&G Foods, Inc. (NYSE: BGS) announced today the closing of its previously announced credit agreement refinancing. The refinancing includes a $300.0 million add-on tranche B term loan facility under the Company’s existing senior secured credit facility. The tranche B term loan facility was issued at a price equal to 99.00% of its face value. The add-on term loans, which have the same terms as, and are fungible with, B&G Foods’ existing $371.6 million of tranche B term loans, will bear interest at a rate of LIBOR plus 2.50%, with a 0.00% LIBOR floor, and have a maturity date of October 10, 2026.
  • Williams Closes on New Credit Facilities
    December 17, 2020
    Williams Industrial Services Group Inc. (OTCQX: WLMS) (“Williams” or the “Company”), a construction and maintenance services company, today announced that it has entered into new credit agreements (the “Credit Facilities”), including a $50.0 million term loan facility (the “Term Loan”) with Energy Impact Credit Fund, an affiliate of Energy Impact Partners, as Agent to the Term Loan, CION Investment Corporation, and CrowdOut Capital, which consists of a $35.0 million initial term loan and a $15.0 million delayed draw facility, and a $30.0 million revolving credit facility (the “Revolver”) with PNC Bank, which together replaced its previous facilities.
  • Fashion Retailer rue21 Strikes Deal To Retire Debt
    December 17, 2020
    Fashion retailer rue21 (r21 Holdings, Inc.) said that its formidable financial standing enabled it to refinance its current term loan, decrease the cost of funds and bolster available liquidity, according to an announcement. The retailer modified its asset-based credit facility to bolster availability to $155 million due 2025 headed up by Bank of America, N.A. The modification comes with a rise to the FILO Loan via a collaborative effort between Tiger Finance and Bank of America.
  • Guitar Center Announces Court Approval of Restructuring Plan
    December 17, 2020
    Milbank LLP is serving as legal counsel to the Company. Houlihan Lokey is serving as the Company’s financial advisor. BRG is serving as the Company’s restructuring advisor. Stroock & Stroock & Lavan LLP is serving as legal counsel to an ad hoc group of Secured Noteholders and Province is serving as financial advisor. Kirkland & Ellis LLP is serving as legal counsel to Ares Management Corporation. Debevoise & Plimpton LLP is serving as legal counsel to Brigade Capital Management and GLC Advisors & Co. is serving as financial advisor. Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as legal counsel to The Carlyle Group.
  • ClickLease LLC Announces a $100 Million Line of Credit With Credit Suisse
    December 17, 2020
    ClickLease LLC, an innovator in the commercial equipment finance industry announced the successful closing of a $100 million credit facility with Credit Suisse and Hudson Cove Capital. Sector Financial Inc., an affiliate of Credit Suisse, provided access to the Credit Suisse debt facility. Clicklease, headquartered in Salt Lake City, UT, is disrupting small ticket equipment finance with its best-in-class technology and proprietary algorithms delivering instant credit decisions and funding, putting more control into the hands of its dealers.
  • Albert M. Schenck Joins KeyBank's Commercial Banking Team
    December 17, 2020
    KeyBank continues to grow Commercial Banking resources in its Connecticut and Massachusetts market with the addition of Albert M. Schenck, who has joined Key as a Senior Relationship Manager. Schenck is responsible for managing new and existing relationships with middle market commercial clients and reports to Commercial Sales Leader, Matthew Hummel.
  • Credit Acceptance Announces Extension of Revolving Secured Line of Credit Facility and Increase and Extension of Revolving Secured Warehouse Facility
    December 17, 2020
    Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) announced that on December 15, 2020, we extended the maturity of our revolving secured line of credit facility with a commercial bank syndicate from June 22, 2022 to June 22, 2023. The amount of the facility will remain at $340.0 million until June 22, 2022, when the amount of the facility will decrease to $305.0 million. As of December 15, 2020, we had $65.3 million outstanding under the line of credit facility.
  • Crystal Financial LLC Agents $40 Million Senior Credit Facility for Basic Fun!
    December 17, 2020
    Crystal Financial LLC announced the closing of a $40,000,000 senior credit facility comprised of a $20,000,000 revolving line of credit and a $20,000,000 term loan for Basic Fun! (“the Company”). Proceeds from the transaction were used refinance existing debt and provide the Company with enhanced flexibility to continue growing the business.
  • BHI Arranges New Financing For Hotwire Communications, a Florida-Based Company, Remains Active for SFLA Middle Market Companies in the Pandemic
    December 17, 2020
    BHI, a full-service commercial bank, announced that it has closed a $15 million credit facility for Hotwire Communications, a national fiber optics internet cable provider for residential and commercial buildings. Based in Fort Lauderdale, Hotwire serves markets in the Southeastern United States.
  • Signature Bank Expands Executive Management Team With Appointment of Two Executives
    December 17, 2020
    Signature Bank (Nasdaq: SBNY), a New York-based full-service commercial bank, announced today expansion of its executive management team with the appointment of two executives. Lisa Bond was named to the newly created position of Senior Vice President and Chief Corporate Social Impact Officer, which encompasses Diversity & Inclusion (D&I) and Environmental, Social and Governance (ESG) initiatives, areas in which the Bank is expanding its efforts companywide. Ana Harris, Signature Bank Senior Vice President and Director of Human Resources, was also promoted to the post of Senior Vice President and Chief Human Resources Officer (CHRO).
  • Monroe Capital Supports Corsair Capital LLC’s Majority Investment in Identity Intelligence Group, LLC
    December 17, 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 majority investment in Identity Intelligence Group, LLC (“IDIQ”) by private equity sponsor Corsair Capital LLC. Founded in 2009, IDIQ is a tech-enabled leader in credit report and identity theft monitoring. IDIQ provides credit reporting, identity theft and dark web monitoring, identity restoration and related family protection services in the rapidly evolving $20 billion consumer identity monitoring market.
  • SFNet Advocacy Alert: Governor’s Office Pushing for Amendment to Increase Transaction Threshold
    December 17, 2020
    New York State Assembly Bill 10118-A, sponsored by Assemblyman Kenneth Zebrowski (96th District), and its Senate equivalent S.5470-B sponsored by Senator Thomas (6th District) were passed by the New York State Assembly and Senate over the summer and delivered to Governor Cuomo for signature last week. It is anticipated that the Governor will sign this legislation by year end. The new statute would require, among other provisions, that all non-regulated commercial finance companies, including ABL lenders and factors, that propose to lend $500,000 or less to New York-based borrowers, to disclose to these potential borrowers immediately prior to entering into a credit or factoring agreement the Annual Percentage Rate (“APR”) of the “loan” (inclusive of all fees and costs), expressed as a dollar amount, to be charged to the prospective borrower so that the borrower, allegedly, has the ability to better understand the lender’s pricing and make comparisons to other offers the prospective borrower may have received.
  • United Gaming Announces New $250-Million Credit Facility - Completes Fifteenth Acquisition and Emerges as Largest COAM Company in Georgia
    December 16, 2020
    United Gaming LLC ("the company" or "UG"), the largest operator of coin-operated amusement machines (COAMs) in the State of Georgia, announced that it had recently entered into a new senior secured $250-million multi-draw credit facility (the "Credit Facility") with a New York-based investment group acting as agent. The Credit Facility includes incremental committed borrowing available for future expansion. At the time of closing, the use of the proceeds included fees, refinancing of an existing facility, acquisitions, capital expenditures, and general corporate purposes.
  • SATO Corporation Signs a Total of EUR 350 Million Committed Revolving Credit Facilities
    December 16, 2020
    SATO Corporation (SATO) strengthened its liquidity position by signing a total of EUR 350 million committed revolving credit facilities with Nordea Bank Oyj, Danske Bank A/S, Finland Branch, OP Corporate Bank plc, Swedbank AB (publ), Svenska Handelsbanken AB (publ), Branch Operation in Finland.
  • ENTACT Acquired by JF Lehman With Debt Financing
    December 16, 2020
    Deutsche Bank Credit Solutions and Direct Lending provided debt financing for an acquisition of ENTACT LLC by J.F. Lehman & Co., a company statement said today. Proceeds will fund company growth. ENTACT, based in Westmont, Ill., employs approximately 600 people.
  • Sidley Represents Invitation Homes in US$3.5 Billion Sustainability-Linked Credit Facility
    December 16, 2020
    Sidley represented Invitation Homes Inc. (NYSE: INVH) in a US$3.5 billion sustainability-linked syndicated credit facility agented by Bank of America, N.A., with BBVA USA acting as Sustainable Agent and Coordinator. The credit facility consists of a US$1 billion revolving credit facility and a US$2.5 billion term loan facility.
  • Vaccine to Provide Relief to Global Structured Finance Sectors
    December 16, 2020
    Widespread vaccine availability later in 2021 will alleviate pressures on global structured finance (SF) asset performance by reducing the duration of the pandemic and likelihood of lockdown measures, mitigating downside risk in 2H21, Fitch Ratings says. Positive vaccine developments are a significant factor in Fitch’s expectations for global GDP growth in 2021, with further government support and policy easing expected until the health crisis is brought under control. However, delayed vaccine availability would result in significantly weaker growth in 2021.
  • One-In-Four Small Business Owners Will Close Doors If Economic Conditions Don’t Improve Soon
    December 16, 2020
    The NFIB Research Center released its latest survey focusing on the impact the COVID-19 pandemic and imposed shutdowns have had on small businesses. This is the 14th survey since early March. One-in-four small business owners reported that they will have to close their doors in the next six months if the current economic conditions don’t improve, up 5% from last month. Another 22% of owners anticipate they will be able to operate no longer than 7-12 months under current economic conditions.
  • U.S. Lost 45% of Commercial Banks Since 2000, but Net Income Grows by 207%
    December 16, 2020
    Data acquired by Finbold.com reveals that the total number of Commercial Banks in the US has dropped by 45.65%. The drop has been registered between 2000 and 2020. The data shows that Commercial Banks have closed at a rate of 3.15% yearly average.
  • First Business Capital Corp. Announces $4,990,000 Closed Asset-Based Lending Deal for Turnaround
    December 16, 2020
    Mike Colloton, Vice President – Business Development Officer, announced a closed and funded turnaround financing deal involving a $4,990,000 revolving line of credit facility, a real estate term loan, and an equipment term loan for a plastic injection molding business in Michigan.
  • CIT Donates Two Million Meals to Fight Hunger
    December 16, 2020
    CIT Group Inc's (NYSE: CIT) annual partnership with Feeding America® has helped provide Two Million Meals1 to people in need this holiday season. With the support of its customers, employees and followers, the company brought awareness to the pressing issue of food insecurity across the country.
  • UMB Capital Finance Provides $2 Million Credit Facility to Data Analytics Firm and Software Value Added Reseller
    December 16, 2020
    UMB Bank, N.A., through its UMB Capital Finance Accounts Receivable Finance business channel, provided a $2 million credit facility to a Massachusetts-based data analytics service firm specializing as a software value added reseller. The facility will be utilized for working capital support needed for this quickly expanding business.
  • Tradewind Finance Announces $1 Million Credit Facility for Seafood Importer and Wholesaler in the USA
    December 16, 2020
    Tradewind Finance has provided a $1 million domestic factoring facility to a seafood importer and wholesaler based in the United States that sells a variety of fish, including snapper, tuna, swordfish, mahi-mahi, and grouper, to retailers and distributors in the USA. The company is a new subsidiary of a large seafood farmer and processor based in Costa Rica and is using the funding to expedite cash flow back to the parent company and support growth in the USA.
  • Varagon Capital Partners Supports Norwest Equity Partners' Acquisition of Red Monkey Foods
    December 15, 2020
    Varagon Capital Partners (Varagon) today announced it is serving as Administrative Agent, Lead Arranger and Bookrunner on a senior secured credit facility to support the acquisition of Red Monkey Foods (Red Monkey) by Norwest Equity Partners (NEP). Red Monkey Foods is a leading provider of premium organic, private label spices and seasonings, as well as branded salts sold through grocery, mass, specialty retailers, and e-commerce channels.
  • Vince Holding Corp. Closes Third Lien Credit Facility
    December 15, 2020
    On December 11, 2020, the Company entered into a $20 million Third Lien Credit Facility with SK Financial Services, LLC (“SK Financial”). Interest and fees under the Third Lien Credit Facility are payable in kind. Proceeds from this facility were used to pay down the borrowings under the Company’s existing Revolving Credit Facility. In addition, on December 11, 2020, the Company entered into amendments to its existing Revolving Credit Facility and to its existing Term Loan Credit Facility.
  • Eastern Bank Welcomes Curate Partners As An Asset-Based Lending Customer
    December 15, 2020
    Eastern Bank is pleased to announce Curate Partners LLC and its subsidiaries Curate Partners LLC, II and Curate Insights, LLC as new asset based lending customers in its Commercial Banking Division. Founded in 2014, Curate Partners is a specialized recruitment and consulting agency helping organizations achieve digital transformation. Eastern is providing an asset based lending (ABL) line of credit to meet Curate’s working capital and general corporate financing needs.
  • TriplePoint Venture Growth BDC Corp. Announces Extension and Expansion of Its Revolving Credit Facility
    December 15, 2020
    TriplePoint Venture Growth BDC Corp. (NYSE: TPVG) (the “Company,” “TPVG,” “we,” “us,” or “our”), the leading financing provider to venture growth stage companies backed by a select group of venture capital firms in the technology and other high growth industries, today announced it has extended and expanded its revolving credit facility (“Credit Facility”). Deutsche Bank AG serves as administrative agent and as a lender, together with existing lenders KeyBank National Association, TIAA, FSB, MUFG Union Bank, N.A., Hitachi Capital America Corporation and NBH Bank, and along with new lender, Customers Bank, under the Credit Facility.
  • TravelCenters of America Closes New $200 Million Term Loan
    December 15, 2020
    TravelCenters of America Inc. (Nasdaq: TA) (“TA”) today announced the closing of a new $200 million senior secured term loan facility (“Term Loan”). Terms of the new loan include interest payable at LIBOR, with a floor of 100 basis points, plus 600 basis points and a seven-year maturity.
  • SG Credit Partners Provides $2.1MM Unitranche Loan – Collateral Based Term Loan A + Cash Flow Based Term Loan B
    December 15, 2020
    SG Credit Partners provided a $2.1 million unitranche loan to a sponsor-backed e-tailer of aftermarket auto parts focused on a niche of the broader aftermarket industry. The Company sells through its Company-owned DTC eCommerce channel as well as through 3rd party marketplaces.
  • Great Rock Capital Closes CAN$10 Million Senior Secured Revolving Credit Facility with Smart Employee Benefits, Inc.
    December 15, 2020
    Great Rock Capital, an asset-focused commercial finance company specializing in middle market lending, today announced the completion of a CAN$10 million senior secured revolving credit facility with Smart Employee Benefits, Inc. ("SEB"), a Canadian-based technology company that builds, customizes, implements, integrates, and manages data-processing solutions.
  • Tradecycle Capital Delivers Two New Accounts Payable Finance Facilities in November
    December 15, 2020
    Tradecycle Capital, an Indianapolis-based trade finance provider, announced it funded two new revolving accounts payable funding facilities in November. One for $750M to a manufacturer of indoor/outdoor specialty lighted signage and another for $1.5MM to an automotive lighting and component manufacturer.
  • Gemino Healthcare Finance Line of Credit to a Provider of Mental Health and Substance Use Disorder Treatment
    December 15, 2020
    Gemino Healthcare Finance announced it provided a $44 million asset-based revolving line of credit in December 2020.
  • Axiom Bank, N.A. Welcomes Vanessa Lopez
    December 15, 2020
    Vanessa Lopez was appointed VP, Controller, at Axiom Bank, N.A., a Maitland-based, leading community bank. Lopez brings nearly two decades of experience in accounting and banking to her new role.
  • Siena Lending Group LLC Announces the Closing of a $17.5 Million Credit Facility for a California-Based Tire Company
    December 15, 2020
    Siena Lending Group LLC (“Siena”) is pleased to announce the closing of a $17.5 Million asset-based credit facility with a California-based Tire Company (“TireCo” or the “Company”). The two-year revolving credit facility was used to refinance existing debt and provide additional working capital to support business growth.
  • Lundin Energy AB Announces Successful Refinancing Into a $5 Billion Corporate Credit Facility
    December 14, 2020
    Lundin Energy AB (the ‘Company”) is pleased to announce that is has successfully completed the refinancing of its existing secured USD 4.75 billion Reserves Based Lending facility (“RBL”) and other corporate facilities, into a new, lower margin USD 5 billion five-year corporate facility, (the “Facility”).
  • CFOs Taking More Prominent Strategic and Enterprise-Building Responsibilities Following Their Critical COVID-19 Work, New Survey Shows
    December 14, 2020
    Findings from a new survey show Chief Financial Officers ("CFOs") are taking on greater strategic and enterprise-building roles after guiding their organizations through the challenges of COVID-19. CFO Research of Argyle Advisory & Research Services and FTI Consulting, Inc. surveyed 325 corporate finance executives to better understand how CFOs and the finance function drive enterprise value. Five key themes emerged:
  • Liberty Hall Capital Partners Acquires Comply365
    December 14, 2020
    Liberty Hall was advised by Spurrier Capital Partners, while financing for the acquisition was provided by Ally Finance, Fidus Investment Corporation and RF Investment Partners. Legal advice to Liberty Hall was provided by Gibson Dunn & Crutcher. Comply365 was advised by AGC Partners. Legal advice to Luminate and Comply365 was provided by Kirkland & Ellis.
  • CytoSorbents Pays Off $15M Term Loans and Establishes New Undrawn $15M Loan Commitment with Bridge Bank
    December 14, 2020
    CytoSorbents Corporation (NASDAQ: CTSO) is a leader in blood purification to treat cytokine storm and deadly inflammation in life-threatening illnesses with its flagship product, CytoSorb. CytoSorb is approved in the European Union and distributed in 58 countries worldwide. (PRNewsfoto/CytoSorbents Corporation) CytoSorbents Corporation (NASDAQ: CTSO), a critical care immunotherapy leader commercializing its CytoSorb® blood purification technology to treat deadly inflammation in critically ill and cardiac surgery patients around the world, announces it has closed on the Third Amendment (the "Amendment") of its Amended Loan and Security Agreement with Bridge Bank.
  • Office Sector ‘Workout Mode’ to Persist for Two Years or More, Advises A&G Executive
    December 14, 2020
    Office tenants will be in tough negotiations with landlords for the next two years or more—and that means they need to be strategic about securing concessions that lower their occupancy costs, writes Andy Graiser of A&G Real Estate Partners (A&G) in a column for Commercial Property Executive. Fortunately, both landlords and their lenders are starting to show more flexibility in negotiations, writes Graiser, who has decades of experience in real estate lease restructurings, dispositions, valuations and acquisitions. “Office landlords around the country are confronting a stark choice—either shift into ‘workout mode’ or risk losing important tenants for good.”
  • DLL to Provide Financing to Truck Camper Manufacturer, Northern Lite
    December 14, 2020
    DLL, global asset finance company for equipment and technology, has partnered with Northern Lite a manufacturer of high quality 4-season truck campers. Recreational vehicle dealers will now have the benefit and option of financing their Northern Lite inventory purchases with DLL anywhere in North America. Northern Lite is known throughout the RV industry for quality, workmanship, high-end fit and fiberglass finish on all products, including the new Boreal fiberglass travel trailer.
  • Comments on Outline of Proposals Under Consideration and Alternatives Considered for Section 1071 of the Dodd-Frank Act Governing Small Business Lending Data Collection and Reporting
    December 14, 2020
    In September, SFNet issued an alert pertaining to CFPB Section 1071, requesting members respond to CFPB’s invitation to comment by December 14th. The measure could prove to be unduly burdensome to the vast majority of small and mid-sized finance companies that provide credit to small businesses. With the assistance of SFNet members serving on the 1071 Subcommittee, SFNet has submitted a comment letter requesting specific exemptions for relevant asset classes.
  • Wolters Kluwer’s Annual Indicator Survey Shows Significant Risk, Compliance Concerns for U.S. Lenders
    December 14, 2020
    Regulatory compliance and risk concerns remain high in a number of key areas for U.S. banks and credit unions, according to the results of Wolters Kluwer’s 2020 Regulatory & Risk Management Indicator survey. This year’s survey, conducted by Wolters Kluwer’s Compliance Solutions business, generated a Main Indicator Score of 103, an eight-point increase over the 2019 score. This was influenced by concerns about managing regulatory change, mortgage-related regulations, and U.S. Coronavirus Aid, Relief, and Economic Security (CARES) Act requirements.
  • J D Factors Announces Factoring Facilities
    December 14, 2020
    J D Factors announced it provided the following factoring facilities: $120,000 to a transportation company in Illinois; $1,500,000 to a transportation company in British Columbia; $200,000 to a transportation company in New Jersey' $100,000 to a transportation company in Ontario and more.
  • Austin Financial Services Provides a $1.3MM Revolving Facility to a Private Equity Owned Technology Manufacturing and Engineering Company
    December 14, 2020
    Austin Financial Services, Inc. (AFS) is pleased to announce the closing of a $1.3MM revolving A/R and inventory facility to a private equity owned Technology Manufacturing and Engineering Company. The Company’s ownership plans to grow and expand the business by leveraging shared relationships from the common ownership of their portfolio companies. As the equity group looks to expand its ownership of companies in the consumer goods market, they once again called on AFS - a tried and tested lending partner with a proven track record of providing customized and flexible financing solutions.
  • Cascades Announces That its Subsidiary Greenpac Mill, LLC Has Successfully Refinanced its Bank Debt
    December 14, 2020
    Wells Fargo Bank, National Association, Manufacturers and Traders Trust Company and Merrill Lynch, Pierce, Fenner & Smith Incorporated served as Co-Lead Arrangers and Joint Bookrunners on the amended credit facilities, which consist of a US$75 million term loan and a US$50 million revolver. The principal amount outstanding under the term loan was reduced from US$121 million to US$75 million in connection with the amendment to the credit facilities.
  • FTI Consulting Bolsters Health Solutions Practice with Seven Senior Appointments
    December 14, 2020
    FTI Consulting, Inc. (NYSE: FCN) today announced the appointment of seven professionals to its Health Solutions practice, including Senior Managing Directors James Fisher, Julie Kliger and Kevin McCadden, and Managing Directors Matthew Leshy, Juliana Malhotra, Patterson Shafer and Amy Showalter.
  • Uniti Group Inc. Announces Refinancing of its Revolving Credit Facility
    December 14, 2020
    Uniti Group Inc. (“Uniti” or the “Company”) (Nasdaq: UNIT) announced today that it has entered into an amendment to its credit agreement that upsizes commitments from new and existing lenders under its senior secured revolving credit facility to $500 million. Under these commitments, the covenants have been revised to provide Uniti greater flexibility in pursuing its strategic initiatives, and, subject to certain conditions, the maturity date has been extended to December 10, 2024 with substantially improved pricing. Bank of America acted as Left Lead Arranger and Bookrunner on the transaction.
  • Accord Financial Adds to Leadership Team Strengthening Commitment to Simplify Access to Capital
    December 14, 2020
    As the organization continues to build and grow its advanced technological platforms meeting client needs with innovative solutions, Accord Financial Corp., one of the U.S. and Canada's leading independent finance companies ("Accord") (TSX: ACD) announced two new members of the executive leadership. Barrett Carlson, Senior Vice President, Corporate Development, will oversee all aspects of the company's growth, development and marketing. Eric Starr, Senior Vice President, Program Operations and Risk, is spearheading Accord's strategic and digital transformation.
  • Ahold Delhaize Announces €1 Billion Sustainability-Linked Revolving Credit Facility
    December 14, 2020
    Ahold Delhaize today announces that it has successfully closed a €1 billion, Sustainability-linked Revolving Credit Facility (the ‘Facility’), refinancing its existing 2015-dated €1 billion facility. The Facility is an important milestone that highlights how Ahold Delhaize is reinforcing the alignment of its funding strategy and its commitments laid out in its Healthy & Sustainable ambition. ABN AMRO and Société Générale acted as Coordinators and Sustainability Coordinators on the Facility.
  • Audax Private Debt and Adams Street Partners Provide Financing to Support Freeman Spogli’s Acquisition of US Med-Equip
    December 14, 2020
    Audax Private Debt and Adams Street Partners, as Joint Lead Arrangers, provided a unitranche credit facility to support Freeman Spogli’s acquisition of US Med-Equip (“USME” or the “Company”), a value-added distributor and rental provider of movable medical equipment. Varagon Capital Partners and Madison Capital Funding, as joint syndication agents, and Willow Tree Credit Partners also supported the financing. Audax Private Debt also served as Administrative and Collateral Agent.
  • Piper Sandler Acquires Restructuring Team with Addition of TRS Advisors
    December 14, 2020
    Piper Sandler Companies (NYSE: PIPR), a leading investment bank, today announced that it has entered into a definitive agreement to acquire TRS Advisors. TRS Advisors is an independent advisory firm focused on advising and executing restructurings, reorganizations and other complex financial transactions for public, private and governmental clients.
  • Jefferies Group and Hildene Capital to Invest in Equity of CLOs Managed by Carlson Capital
    December 14, 2020
    Carlson Capital, L.P. (“Carlson”), an alternative asset management firm, today announced that it reached a strategic agreement with Jefferies Group LLC (“Jefferies”) and structured credit investor Hildene Capital Management, LLC (“Hildene”) to support the new issuance of CLOs on Carlson’s Cathedral Lake platform. Under the terms of the agreement, Jefferies and Hildene will provide CLO equity capital to support the new issuance of four Carlson CLOs within the next three years. As strategic investors, Jefferies and Hildene will share in the growth of the Cathedral Lake CLO platform.
  • Hawks Announce Historic Agreement With Black-Owned Banks
    December 14, 2020
    Earlier today, the Atlanta Hawks announced that it has agreed to refinance the construction loan for the Emory Sports Medicine Complex with a syndicate of Black-owned banks. The $35 million loan marks the first time a professional sports franchise has had a significant loan underwritten exclusively by Black banks. The groundbreaking transaction was facilitated with the support of the newly-formed National Black Bank Foundation, which organized a syndication team to structure the deal. Georgia-based Carver State Bank served as the syndicate’s Lead Arranger. By partnering with the Black bank syndicate, the Hawks are both demonstrating that Black banks can compete with money center banks for commercial loans as well as using the Club’s strong credit rating to bolster the capital cushion for Black banks so that they can better serve their traditional customer base.
  • Oxford Finance Provides Credit Facility to DCN Dx
    December 14, 2020
    Oxford Finance LLC (“Oxford”), a specialty finance firm that provides senior debt to healthcare services and life sciences companies worldwide, today announced the closing of a senior credit facility and revolving line of credit to DCN Dx (or “the Company”), a lateral flow diagnostics developer. The proceeds are being used to support growth initiatives and were made alongside an equity investment in DCN Dx by Martis Capital, a private equity firm focused exclusively on the healthcare industry. Oxford Finance is the sole lead arranger and administrative agent in this transaction.
  • Assembled Brands Announces New $1 Million Senior Secured Credit Facility with Ranch Rider Spirits Co.
    December 14, 2020
    Assembled Brands announced it provided a new $1 million senior secured credit facility with Ranch Rider Spirits Co. a high-quality, health-focused, canned tequila cocktail brand. Through this partnership, the Austin-based spirits company will be able to accelerate their growth profile through investments in supply chain, marketing, and logistics in 2021.
  • Venus Concept Announces Debt Refinancing
    December 10, 2020
    Venus Concept Inc. (“Venus Concept” or the “Company”) (NASDAQ: VERO), a global medical aesthetic technology leader, announced today that it has amended its existing revolving credit facility with City National Bank of Florida (“CNB”) and successfully refinanced its long-term debt obligations. Specifically, the Company secured a new loan with CNB in the aggregate amount of $50.0 million as part of the Main Street Priority Loan Facility established by the Board of Governors of the Federal Reserve System Section 13(3) of the Federal Reserve Act.
  • ADMA Biologics Enters Into $100 Million Credit Facility Loan Amendment with Perceptive Advisors
    December 10, 2020
    ADMA Biologics, Inc. (Nasdaq: ADMA) (“ADMA” or the “Company”), an end-to-end commercial biopharmaceutical company dedicated to manufacturing, marketing and developing specialty plasma-derived biologics, today announced an amendment to its existing senior secured term loan with Perceptive Advisors (“Perceptive”), which provides for an additional loan tranche of $15 million, increasing the total size of the credit facility to $100 million. The amended terms for the existing $85 million credit facility additionally provide for, among other things, a two-year extension of the interest only period through the duration of the credit facility now maturing in March 2024, at an unchanged borrowing rate of 11%.
  • Oxford Finance Closes $7.4 Million Credit Facility With REACH LTC
    December 10, 2020
    Oxford Finance LLC (“Oxford”), a specialty finance firm that provides senior debt to healthcare services and life sciences companies worldwide, today announced the closing of a $7.4 million senior credit facility and revolving line of credit to REACH LTC (“REACH” or “the Company”), a provider of short and long-term skilled care options. The proceeds are being used for general working capital and the acquisition of one skilled nursing facility located in Town and Country, MO containing 282 licensed beds.
  • Prestige Capital Announces $1.5 Million for a Contract Manufacturer
    December 10, 2020
    Prestige Capital Finance, LLC recently delivered a $1.5 million factoring facility to a company that manufacturers and packages frozen treats for well-known food and beverage companies. The funds were used to expand this contract manufacturer’s product line.
  • Paladin Continues to Expand Top Tier Team
    December 10, 2020
    Paladin Management, the fast-growing middle market advisory firm driving value-creation through financial and operational consulting services, is continuing to see sustained expansion in 2020 with the addition of industry expert, Anthony Horvat, a respected specialist in turning around and leading distressed and underperforming businesses.
  • Siena Lending Group LLC Announces the Closing of a $21.5 Million Credit Facility to Support Saothair Capital Partners' Acquisition of Arandell Corporation
    December 10, 2020
    Siena Lending Group LLC (“Siena”) announces the completion of a $21.5 million asset-based revolving line of credit for Arandell Corporation (“Arandell”). The facility was provided in conjunction with Saothair Capital Partners (“Saothair”) to fund the acquisition pursuant to a 363 sale of assets under Chapter 11, and for working capital needs to support future growth.
  • Wolters Kluwer to Acquire eOriginal
    December 10, 2020
    Wolters Kluwer Governance, Risk & Compliance (GRC) has signed an agreement to acquire eOriginal, a leading provider of cloud-based digital lending software, for approximately €231 million in cash. The acquisition extends GRC Compliance Solutions’ leading position in U.S. mortgage and loan document generation and analytics into the fast-growing digital loan closing and storage adjacency.
  • Capital Southwest Supports Mountaingate Capital’s Investment in Acceleration Partners
    December 10, 2020
    Capital Southwest Corporation (“Capital Southwest”) (Nasdaq: 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 Mountaingate Capital’s (“Mountaingate”) investment in Acceleration Partners LLC (“Acceleration Partners” or the “Company”) with a senior secured first lien term loan and delayed draw facility, as well as a minority equity investment. Capital Southwest led the financing. East West Bank provided a revolver and was a minority co-lender in the term loan and delayed draw facility.
  • Phoenix Lending Survey Results Reveals Slow Growth and Choppy Recovery After COVID-19
    December 10, 2020
    From the fourth quarter Phoenix Management “Lending Climate in America” survey results reveal a slow and choppy recovery after COVID-19. While the majority of lenders surveyed seem to believe economic recovery after COVID-19 to be slow and choppy, the outlook for the U.S. economy in the near-term steadily improves. The near-term grade point average (GPA) increased 33 percentage points to 2.05 from the Q3 2020 GPA of 1.72. The projected outlook for the U.S. economy in the long-term decreased slightly (by 17 percentage points) to 2.43 from the previous quarter’s results of 2.60.
  • Thoma Bravo Completes Acquisition of AxiomSL
    December 10, 2020
    Thoma Bravo, a leading private equity investment firm focused on the software and technology-enabled services sector, today announced the completion of its acquisition of AxiomSL, a leading provider of cloud-enabled risk management and regulatory solutions for banking, investment management, broker dealers and commodity trading institutions. Evercore acted as financial advisor and Weil, Gotshal & Manges LLP served as legal advisor to AxiomSL. Kirkland & Ellis LLP served as legal advisor to Thoma Bravo. Financing for the transaction was provided by Owl Rock Capital, Goldman Sachs Merchant Banking Division, PSP Investments Credit USA LLC and Harvest Partners, LP.
  • TAB Bank Provides Transportation Company in Michigan with a $1 Million Asset-Based Credit Facility and $1.1 Million in Equipment Financing
    December 9, 2020
    TAB Bank is pleased to announce it has provided a $1 million asset-based credit facility for a transportation company located in Michigan. The facility is based on a multi-year agreement and will provide for the company’s ongoing working capital needs. In addition to the revolving credit facility, TAB Bank also provided the company with $1.1 million in equipment financing.
  • Wingspire Provides $30MM to Specialty Construction Products Company
    December 9, 2020
    Wingspire Capital has provided a $30 million senior secured credit facility to a leading manufacturer and distributor of specialty concrete production and handling equipment that are integral in the construction of large buildings, stadiums, roads, bridges and other infrastructure.
  • White Oak Healthcare Finance Provides $110 Million Financing for a 9 Facility Skilled Nursing Portfolio
    December 9, 2020
    White Oak Healthcare Finance, LLC (“White Oak”) today announced it acted as administrative agent and sole lender on the funding of a $110 million senior credit facility secured by 9 skilled nursing facilities in Virginia. The total portfolio comprised over 1,000 beds.
  • Tiger Auctioning Surplus Professional Gear from Keslow Camera
    December 9, 2020
    In its last online auction of the year, Tiger Group is selling digital cameras, lenses and accessories surplus to the continuing operations of Keslow Camera, a leading motion picture film and digital cinema camera rental company
  • Westlake Securities Serves as Exclusive Financial Advisor for Zippy Shell on Transaction Securing $160 Million in Committed Capital
    December 9, 2020
    Westlake Securities, a leading middle market investment bank, announced that it secured the previously announced $160 million in committed capital for Wake Forest, N.C.-based portable storage and moving company, Zippy Shell. Recently ranked again in the Inc. 5000 list of the nation's fastest-growing private companies, Zippy Shell is on the move itself—moving up and growing quickly as the industry's second largest company of its kind.
  • PaperTech, A Leading Provider of Sustainable Food Packaging Products, Acquired by May River Capital
    December 9, 2020
    PaperTech, a leading manufacturer of paperboard packaging products to the frozen food industry and foodservice markets, today announced it has been acquired by May River Capital, a Midwest-based private equity firm focused on helping high-caliber industrial businesses grow and prosper. Paul Hastings LLP served as legal counsel to May River Capital, while Seyburn Kahn, P.C. served as legal counsel to PaperTech and its shareholders. Twin Brook Capital Partners provided the debt financing in support of the acquisition. Amherst Partners acted as the exclusive financial advisor to the company and its shareholders.
  • CIT Serves as Coordinating Lead Arranger for $256 Million Texas Solar Financing
    December 9, 2020
    CIT Group Inc. (NYSE: CIT) today announced that its Power and Energy business served as coordinating lead arranger on a $256 million financing for the 250-megawatt (MW) Taygete I Energy Project owned by 7X Energy, Inc (7X) and located in Pecos County, Texas. 7X Energy is a leading utility-scale solar developer, owner, and asset manager that has originated 1,350 (MWac) of solar projects that are operational or under construction in Texas alone and has a pipeline of over 4,000 MW across the United States.
  • ABC Carpet & Home Selects Gerber Finance For Funding
    December 9, 2020
    Gerber Finance, a leading finance partner for companies experiencing accelerated growth, today announced funding of abc carpet & home, a mission-driven home and lifestyle brand that is a favorite with designers, decorators and consumers. The home goods market and retailers have been experiencing record growth in 2020, as people spend more time at home.
  • John Owen to Retire as Regions Chief Operating Officer Following 38-Year Career in Business and Banking
    December 9, 2020
    Regions Financial Corp. on Tuesday announced Chief Operating Officer John Owen will retire effective March 15, 2021, following a nearly 38-year career in business and banking, the last 13 of which have been at Regions. Owen’s experience and insights have benefited several of Regions’ business groups and, in turn, the people and businesses who turn to Regions for comprehensive and innovative financial services. Owen joined the company in 2007 as head of Operations and Technology. In 2009, he was named head of Regions’ Consumer Services group. He later served two years as head of Business Lines, which included the Business Services, Consumer Services, Consumer Lending and Wealth Management groups.
  • As COVID-19 Cases Rise and Restrictions Loom, Small Business Owners See Long Road to Recovery
    December 9, 2020
    With COVID-19 cases surging and a new wave of restrictions looming, challenges persist for small business owners as they continue to weather the pandemic according to data from the Q4 Wells Fargo/Gallup Small Business Index. While the index score rose 12 points for the second straight quarter, overall optimism levels remain just over half of what they were in late 2019.
  • JCPenney’s Retail and Operating Assets to Exit Chapter 11
    December 8, 2020
    The Company’s asset purchase agreement (“APA”) with Simon, Brookfield and the Company’s DIP and First Lien Lenders (“First Lien Lenders”), supported by the Unsecured Creditors Committee, had previously been approved by the U.S. Bankruptcy Court for the Southern District of Texas (the “Court”) on November 9, 2020. Kirkland & Ellis LLP is serving as legal adviser, Lazard is serving as financial adviser, and AlixPartners LLP is serving as restructuring adviser to the Company. Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as legal counsel and BRG Capital Advisors, LLC is serving as financial adviser to Simon and Brookfield.
  • Great Rock Capital Closes $20 Million Senior Secured Term Loan
    December 8, 2020
    Great Rock Capital, an asset-focused commercial finance company specializing in middle market lending, today announced the close of a $20 million senior secured term loan for an industry-leading full-service equipment rental supplier. The new capital will provide the company with additional liquidity to execute on growth endeavors as it continues to expand into new markets.
  • O’Keefe Expands M&A Practice With the Addition of Marco Eadie to Lead New Corporate Finance Group
    December 8, 2020
    O’Keefe is pleased to announce that Marco Eadie has joined the firm as Managing Director to lead the new Corporate Finance practice. Eadie focuses on transaction advisory services including mergers, acquisitions, buy and sell side advisory, debt recapitalizations, corporate development, restructurings, divestitures, and event-driven financing for both private and publicly held companies.
  • Moody's: COVID-19 Fallout will Drive RMBS Originators to Uphold High Standards in 2021, but Weaken Existing Deals' Performance
    December 8, 2020
    Moody's credit analysts have published the attached outlook for the residential mortgage-backed securities market for 2021. This outlook covers all sub-sectors of RMBS rated by Moody's including prime jumbo, non-prime, GSE credit risk transfer and single-family rental transactions.
  • North Mill Capital LLC (NMC) Promotes Karen Marino to Senior Vice President
    December 8, 2020
    Marino joined NMC in 2015 and has been serving as both an account executive and underwriter. Karen is committed not only to NMC but is very active outside of work. She is on the board of the Secured Finance Network (SFNet) New Jersey Chapter, is currently Vice Chair of the National SFNet Yo Pro Committee, and serves on SFNet’s Education Committee. She is also a past recipient of the SFNet 40 Under 40 Award.
  • Saothair Capital Partners Completes the Acquisition of Arandell Corporation
    December 8, 2020
    Saothair Capital Partners, LLC ("Saothair"), a private equity firm focused exclusively on investing in lower-middle market manufacturing and industrial companies facing unique operational and financial challenges, announced it has acquired the business and assets of Arandell Corporation ("Arandell") through a newly-formed affiliate. Saothair completed the transaction after partnering with existing lender Farragut Capital Partners to be named stalking-horse bidder pursuant to a 363 sale of assets under Chapter 11 of the U.S. Bankruptcy Code.