• JCPenney Signs Asset Purchase Agreement with Brookfield, Simon and First Lien Lenders, Charting Course for the Future
    October 29, 2020
    J. C. Penney Company, Inc. (OTCMKTS: JCPNQ) today announced that it has entered into an asset purchase agreement (“APA”) with Brookfield Asset Management, Inc (“Brookfield”), Simon Property Group (“Simon”) and a majority of the Company’s DIP and First Lien Lenders (“Majority First Lien Lenders”). 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 to Brookfield and Simon.
  • Sallyport Commercial Finance Funds Canadian Security Firm with a $4,000,000 Accounts Receivable Line of Credit
    October 29, 2020
    Sallyport Commercial Finance opens a $4,000,000 accounts receivable facility to a large Canadian Security Firm. After several lenders reviewed and passed on the business, the company was introduced to Sallyport who took the time to listen and structure a solution that will benefit the business for long term expansion.
  • Gordon Brothers Reviews U.S. Retail Trends in Advance of November 3 Election
    October 29, 2020
    Gordon Brothers, the global advisory, restructuring and investment firm, has published an article examining the effects election years can have on consumer spending and different retail sectors in the U.S. Authors Rick Edwards, President of Retail, and Liz Sarhaddi-Blue, Managing Director of Retail, provide an analysis of the current state of retail, sector shifts in advance of the 2020 election and how proposed policies, like a second stimulus package, may affect the ever-evolving retail industry.
  • Alvarez & Marsal Expands CFO Services Team to Meet Growing Demand
    October 29, 2020
    Leading global professional services firm Alvarez & Marsal (A&M) has appointed Dallas-based Omar Mata a Managing Director in its Private Equity Performance Improvement group. Mr. Mata joins the group’s expanding CFO Services vertical, where he will focus on assisting organizations improve their finance/accounting functions to positively impact business performance. His appointment is in response to increasing demand for critical finance transformation and performance improvement.
  • Monroe Capital Supports Vector Capital’s Acquisition of MarkLogic Corporation
    October 29, 2020
    Monroe Capital LLC (“Monroe”) today announced it acted as sole lead arranger and administrative agent on the funding of a senior credit facility and equity co-investment to support the acquisition of MarkLogic Corporation (“MarkLogic”) by private equity sponsor Vector Capital. Based in San Carlos, California, MarkLogic is a leading provider of enterprise data integration and data management solutions.
  • A&G Executives: 'New Normal' Spurs Schools to Rethink their Real Estate
    October 29, 2020
    Trustees are scrutinizing real estate holdings in education as never before, noted two executives from A&G Real Estate Partners in a webinar conducted by The Association of Governing Boards of Universities and Colleges (AGB). "The pandemic is fast-forwarding business models that were already pivoting to take into account declining enrollments, reductions in state funding, higher debt loads and more distance learning," said Andy Graiser, Co-President of A&G. "At the board level, there's a growing focus on ramping up the efficiency of real estate."
  • Wingspire Capital Provides $60 Million Senior Secured Financing to Franchise Group Inc.
    October 29, 2020
    Wingspire Capital LLC (“Wingspire”) is pleased to announce the funding of a $60 million senior secured working capital facility to Franchise Group Inc., the owner and operator of franchised retail stores. Proceeds were used to refinance the borrower’s existing ABL credit facility in addition to providing a more flexible and cost-effective credit facility for the company going forward.
  • White & Case and Veirano Advogados Were Top M&A Legal Advisers by Value and Volume in South & Central America for Q1-Q3 2020, says GlobalData
    October 29, 2020
    White & Case and Veirano Advogados emerged as the top legal advisers for mergers and acquisitions (M&A) in South & Central America by value and volume, respectively, for Q1-Q3 2020, according to GlobalData, a leading data and analytics company. According to GlobalData’s latest report, 'Global and South & Central America M&A Report Legal Adviser League Tables Q1-Q3 2020', during the period, 693 M&A deals were announced in the region - marking a 30% decrease over the 990 deals announced during the same period in 2019. Deal value also decreased by 45.7% from $65bn in Q1-Q3 2019 to $35bn in Q1-Q3 2020, according to GlobalData’s Financial Deals Database.
  • Laura Ashley Begins NEXT Chapter
    October 29, 2020
    Gordon Brothers, the global advisory, restructuring and investment firm, announced Laura Ashley® has chosen to partner with NEXT plc to reintroduce their home products online and in stores nationwide. NEXT has over 500 stores in the U.K. and Eire and an online presence in over 70 countries making them an ideal retail partner to continue Laura Ashley’s story.
  • Scott Blaeser Joins Pacific Western Bank as SVP, Business Development Officer for Asset-Based Lending-Intermountain Region
    October 29, 2020
    Pacific Western Bank is pleased to announce that Scott Blaeser has joined the Bank as a Senior Vice President, Business Development Officer, for the Intermountain Region on its asset-based lending team. He will be located in the Bank’s Denver office. Scott will lead the Bank’s efforts to deliver asset-based lending solutions to middle-market businesses throughout Colorado, Oregon, Utah, Washington and beyond.
  • SFNet Comment Letter to California DBO on Proposed Regulations for Implementation of Commercial Financing Disclosures
    October 29, 2020
    In September of 2018, the governor of California signed into law CA 1235, which places disclosure requirements on certain commercial financing transactions in California. The CA DBO has now published a set of regulations and SFNet has submitted a comment letter. SFNet has been working to address compliance issues throughout the legislative and rule-making process.
  • White Oak Commercial Finance Provides $20 Million Receivables Financing Facility to Global Health Products Manufacturer
    October 28, 2020
    White Oak Commercial Finance, LLC (“White Oak”), an affiliate of White Oak Global Advisors, LLC, announced it provided a $20 million Receivables Financing Facility to a global manufacturing company that provides innovative product components to the healthcare and consumer goods industries. The transaction was structured as a recourse factoring facility, which will be used by the company to pay down existing debt and increase its cash on hand as it manages through the impact of the COVID-19 pandemic.
  • 1st Security Bank Announces the Promotion of Brian Kunkel to the Position of Director of Commercial Lending
    October 28, 2020
    1st Security Bank announces Brian J. Kunkel's promotion to the Bank's Leadership Team as Director of Commercial Lending. Brian joined the Bank in early 2016 and has contributed significantly to the Bank's commercial lending growth over the last 4 years. In his new role, Brian will oversee 1st Security's entire commercial lending platform including managing the commercial and industrial (C&I) lending teams and the treasury management team.
  • Ares Capital Corporation Announces September 30, 2020 Financial Results and Declares Fourth Quarter 2020 Dividend of $0.40 Per Share
    October 28, 2020
    For the third quarter of 2020, Ares Capital reported GAAP net income of $441 million or $1.04 per share (basic and diluted), Core EPS(2) of $0.39 per share (basic and diluted), net investment income of $166 million or $0.39 per share (basic and diluted), and net realized and unrealized gains of $275 million or $0.65 per share (basic and diluted).
  • CapX Announces Rebrand as Accord Equipment Finance
    October 28, 2020
    CapX Partners (CapX), a leading provider of middle-market equipment leasing and financing programs, has completed its transition becoming fully part of the Accord Financial Corp. family rebranding as Accord Equipment Finance (AEF). In 2017, CapX merged with Accord retaining the CapX Partners banner under a three-year phased transaction.
  • Huntington Business Credit Announces Closed Credit Facilities with Paragon Steel Enterprises, LLC
    October 28, 2020
    Huntington Business Credit announced it closed new $23,000,000 credit facilities with Paragon Steel Enterprises, LLC on September 29, 2020. Proceeds of the facilities were used to refinance existing indebtedness, provide funds for plant expansion and ongoing working capital growth financing.
  • Goldman Sachs and Itau Unibanco Were top M&A Financial Advisers by Value and Volume in South & Central America for Q1-Q3 2020, Says GlobalData
    October 28, 2020
    Goldman Sachs and Itau Unibanco were the top advisers for mergers and acquisitions (M&A) in South & Central America by value and volume, respectively, in Q1-Q3 2020, respectively, according to GlobalData, a leading data and analytics company. According to GlobalData’s report, ‘Global and South & Central America M&A Report Financial Adviser League Tables Q1-Q3 2020’, during this period, 693 M&A deals were announced in the region, which marked a 30% decrease over the 990 deals announced during the same period in 2019. Deal value also decreased by 45.7% from $65bn in Q1-Q3 2019 to $35bn in Q1-Q3 2020.
  • Deal-Makers See Better Days Ahead Following Turbulent 2020
    October 28, 2020
    In the midst of the COVID-19 pandemic and just a year after tempering expectations for deal-making, respondents to Dykema’s 16th Annual M&A Outlook Survey are the most optimistic they have been in the 16-year history of the survey. Seventy-one percent of respondents expect the M&A market to strengthen over the next 12 months, up from 33 percent in 2019, and 87 percent believe M&A activity will increase in the same time frame.
  • U.S. Bank Names Andrew Aye Colorado Market President
    October 28, 2020
    U.S. Bank announced today that Andrew Aye has been named Colorado market president. In his new role, Aye will lead commercial middle market banking and drive company-wide activities in Colorado. Aye returns to U.S. Bank from BOK Financial in Denver, where he established a track record of success. Earlier in his career he spent seven years at U.S. Bank in its Commercial Banking business where he developed a reputation as a strong leader and team builder. In addition to U.S. Bank, he has served as market president for Guaranty Bank and Trust Company, where he headed up the middle market team, and was a director with Stonehenge Growth Capital for more than seven years.
  • OCC Deems ‘True Lenders’ Responsible for Actions of Third-party Partners
    October 28, 2020
    The Office of the Comptroller of the Currency (OCC) has issued its “true lender” rule introduced earlier this year with added clarification about how banks are responsible for the actions of their third-party lending partners. The OCC’s rule, slated to take effect 60 days after publication in the Federal Register, “specifies that a bank makes a loan and is the true lender if, as of the date of origination, it (1) is named as the lender in the loan agreement or (2) funds the loan.” The rule is intended to bolster accountability for banks regarding their third-party partners, clarifying which lender in the arrangement is responsible for following all federal banking laws.
  • Business Capital Arranges DIP/Exit Financing For Historic Inn & Resort
    October 28, 2020
    Business Capital (BIZCAP®) secured Debtor-in-Possession / Exit Financing for a premiere California North Coast boutique hotel located near the largest contiguous redwood forest in the world. Founded in the early 1920’s, it is known for offering a wide range of amenities, activities, and fine dining. The financing will help fund operations during the pandemic related travel and hospitality downturn, as well as allow for expansion and upgrades.
  • Siena Surpasses $500 Million in Sponsor Backed Deals
    October 28, 2020
    Since its founding in 2012, Siena Lending Group has worked extensively with financial sponsors. Achieving milestones like these speaks to Siena’s longevity, creativity in structuring deals and reliability in closing them. It tells people how much private equity firms and other financial sponsors trust Siena for asset-based lending solutions.
  • CIT Serves as Sole Lead Arranger on $39 Million Financing for Medical Office Buildings
    October 28, 2020
    CIT Group Inc. (NYSE: CIT) today announced that its Healthcare Finance business served as sole lead arranger on a $39 million loan for the acquisition of the North Hills Health Center in Menominee Falls, Wisconsin. IRA Capital acquired the medical campus, consisting of two class-A medical office buildings comprising nearly 119,000 square feet. The outpatient facility is 100% leased and occupied by Froedtert Health, a five-hospital system and the primary teaching affiliate of the Medical College of Wisconsin.
  • California Resources Corporation Completes Financial Restructuring
    October 27, 2020
    Trading of New Common Stock to Commence on NYSE on October 28, 2020 Chapter 11 Restructuring Eliminates Pre-Existing Debt and Midstream JV Interests in Exchange for Equity CRC Emerges With a $540 Million Revolving Credit Facility, $300 Million of Secured Notes and $200 Million of Second Lien Term Loan
  • Old Hill Partners Completes an $8 Million Senior Secured Financing for a Merchant Cash Advance Originator
    October 27, 2020
    Old Hill provided $8 million in the form of a senior secured revolving-to-term credit facility to a specialty finance company that provides working capital to small businesses in the form of merchant cash advances. The facility was secured by a first lien perfected security interest in receivables originated by the borrower.
  • Marketlend, Australia’s Leading Trade Credit Platform Secures $100 Million Financing Facility
    October 27, 2020
    Marketlend, Australia’s leading marketplace trade credit platform, continues to excel as it recently closed a new $100 million financing facility with Crayhill Capital Management LP, a New York based private credit manager and asset-based lender. This new facility will assist with liquidity and cash flow management to global companies affected by the COVID-19 pandemic. It complements Marketlend’s existing trade credit securitization program, which offers financing to companies engaged in international trade.
  • PREIT Lenders Grant Extension of Time to Achieve Out-of-Court Restructuring
    October 27, 2020
    PREIT has a primary focus on the ownership and management of differentiated retail shopping malls crafted to fit the dynamic communities they serve. The Company operates properties in 12 states in the eastern U.S. with concentration in the Mid-Atlantic and Greater Philadelphia region. The Company is headquartered in Philadelphia, Pennsylvania. More information about PREIT can be found at www.preit.com or on Twitter or LinkedIn. DLA Piper LLP (US) LLP and Wachtell, Lipton, Rosen & Katz are serving as legal counsel and PJT Partners LP is serving as financial advisor to PREIT.
  • Iron Horse Credit and Alterna Capital Solutions Partner to Provide a Total of $5.5MM of Working Capital to the Manufacturer and Importer of Women’s Footwear
    October 27, 2020
    Iron Horse Credit (IHC) and Alterna Capital Solutions (Alterna) announced today the closing of a $3,000,000 stand-alone inventory revolving line of credit and $2,500,000 Accounts Receivable-based facility respectively to a century-old company engaged in the design, development and marketing of quality women’s footwear. The facility provided was used to pay off its current bank relationship and provide the company with additional working capital as the business impact of COVID-19 began to decrease.
  • Stenn Closes Trade Finance Program Maritime Wire and Cable Firm in the USA
    October 27, 2020
    Stenn recently concluded a seven-figure trade receivables finance program for a US importer of wire and cable used in the maritime sector. The firm imports from suppliers in Canada and China. “We are pleased to develop a trade financing program that meets the working capital needs of this importer as well as its suppliers,” said Peter Clement, Business Development Director, Strategic Accounts.
  • North American Oil And Gas Bankruptcy Debt Has Hit An All-Time High
    October 27, 2020
    The associated debt from North American oil and gas bankruptcies in 2020 has already reached an all-time high and is set to grow even further this year as the wave of Chapter 11 filings continues, a Rystad Energy report projects, analyzing industry data from law firm Haynes and Boone. Although the combined count of Chapter 11 filings from exploration and production firms (E&Ps) and oilfield service (OFS) companies this year in North America has so far reached 84, which is still lower than the historical high of 142 in 2016, the associated debt these companies are carrying is much higher, at $89 billion so far, some $19 billion more than in 2016.
  • Garrett Motion Preserves $2.6 Billion Stalking Horse Bid for Business
    October 27, 2020
    Garrett Motion Inc. (“Garrett”) today announced that on Friday, October 23, 2020, it secured Court approval of bidding procedures for a competitive process to either sell the business of Garrett or raise equity capital for a stand-alone plan of reorganization. The competitive process will continue over the next seven weeks and is expected to conclude at an auction on or about December 18, 2020. The bidding procedures permit Garrett to explore all options, including sales of Garrett for cash, sales of Garrett with co-investment rights offered to stakeholders, and stand-alone plans of reorganization.
  • Francisco Partners to Acquire Forcepoint from Raytheon Technologies
    October 27, 2020
    Forcepoint, a leading provider of cybersecurity solutions that protects the critical data and networks of thousands of customers throughout the world, and Francisco Partners, a leading global investment firm that specializes in partnering with technology and technology-enabled businesses, announced today that Francisco Partners has signed a definitive agreement to acquire Forcepoint from Raytheon Technologies. Debt financing for this transaction was provided by Credit Suisse. Paul Hastings LLP and Kirkland & Ellis acted as legal advisors to Francisco Partners. Barclays acted as exclusive financial advisor and Davis Polk & Wardwell LLP acted as legal advisor to Raytheon Technologies.
  • TCF Financial CEO Dahl Retires; Provost, Shafer Named Successors
    October 27, 2020
    TCF Financial Corp. CEO Craig Dahl will retire, effective today, after helping to lead the $3.6 billion merger of TCF and Chemical Financial Corp., the Detroit-based company announced late Monday afternoon. Dahl, 66, will be succeeded by David Provost, 66, and Thomas Shafer, 62, who was named CEO of TCF National Bank. Shafer, who was also elected vice chairman, will run the day-to-day operations of the bank and is tasked with growing it organically.
  • LBC Small Cap Supports Susquehanna Private Capital’s Acquisition of Mosquito Authority
    October 27, 2020
    LBC Small Cap, an affiliate of LBC Credit Partners, provided a senior secured credit facility and equity co-investment to support Susquehanna Private Capital, LLC’s (“SPC”) acquisition of Authority Franchise Systems, LLC (“Mosquito Authority” or the “Company”). LBC served as Agent and Sole Lead Arranger for the senior secured credit facility. North Carolina-based Mosquito Authority is a franchisor of mosquito, pest, and tick control services throughout the United States, Puerto Rico, and Canada.
  • Yvette Garcia Joins EisnerAmper as a Commercial Audit Partner
    October 26, 2020
    EisnerAmper LLP, a leading global business advisory firm, is pleased to announce that Yvette Garcia has joined the firm as a commercial audit partner concentrating on audit & assurance, mergers & acquisitions, public offerings and capital formation.
  • Blue Wolf Capital Announces Expansion of Investment Team and Promotion of Joshua Cherry-Seto
    October 26, 2020
    Blue Wolf Capital Partners ("Blue Wolf"), a New York-based private equity firm, today announced the expansion of its investment team with four strategic hires: Shashank Patel, Greg Singer, Ethan Cooper and David Meyers. Blue Wolf has also promoted Chief Financial Officer and Chief Compliance Officer Joshua Cherry-Seto to Managing Director.
  • Justin Dunn Joins Hilco Redevelopment Partners as Senior Vice President of Development for the 1300 Acre Development Project in Philadelphia
    October 26, 2020
    Hilco Redevelopment Partners (HRP) announced today that it has named Justin Dunn as Senior Vice President of Development of the company’s Philadelphia team, which is working to redevelop a 1,300 acre former oil refinery site in southwest Philadelphia. The project will transform the site into a state-of-the-art, environmentally responsible logistics and commercial campus. HRP is the real estate development unit of Hilco Global and is dedicated to the remediation and redevelopment of obsolete industrial properties.
  • Matrix Announces the Successful Sale of Dixie Gas & Oil Corporation
    October 26, 2020
    Matrix Capital Markets Group, Inc. (“Matrix”), a leading independent investment bank, announces the successful closing on the sale of the propane, petroleum, and lubricant operations of Dixie Gas & Oil Corporation (“Dixie” or the “Company”) to Quarles Petroleum, Inc. Based in Verona, Virginia, Dixie is one of the region’s largest independent suppliers of retail propane, heating oil, commercial fuels, and lubricant products serving over 10,000 customers in 17 counties throughout Virginia and West Virginia. Jessica Robinson and Victor Santos of Nelson, McPherson, Summers & Santos, L.C. served as legal counsel to Dixie.
  • H.I.G. Capital Signs Definitive Agreement to Acquire Capstone Logistics
    October 26, 2020
    H.I.G. Capital ("H.I.G."), a leading global alternative investment firm with over $40 billion of equity capital under management, is pleased to announce that one of its affiliates has signed a definitive agreement to acquire Capstone Logistics, LLC (“Capstone” or the “Company”), a leading national provider of outsourced supply chain solutions to distribution centers catering primarily to the grocery, food service, retail and CPG industries, from an affiliate of The Jordan Company, L.P. (“TJC”).
  • Symplr Nets Debt Financing for Acquisition of TractManager
    October 26, 2020
    Credit Suisse, Goldman Sachs, Antares Capital, Ares, Deutsche Bank, Golub Capital and Jefferies are providing debt financing for symplr's acquisition of TractManager, which was announced today. Additional details of the financing were not disclosed. TractManager, currently a portfolio company of Arsenal Capital Partners, develops technology-enabled compliance and business process improvement services for healthcare organizations.
  • Flatbay Capital LLC Provides $4MM Real Estate Bridge Loan for Houston-based Valve Distributor
    October 26, 2020
    Flatbay Capital LLC (“Flatbay”) announces the closing of a $4,000,000 commercial real estate loan for Houston-based A&L Valve (“A&L”). Working capital was required to help reduce a significant amount of accounts payables, as well as payoff their existing national bank who recently downgraded the credit. Due to A&L’s recent financial performance, the incumbent bank was unable to refinance the owner occupied real estate.
  • Calera Capital Appoints Kevin Miller as Operating Partner
    October 26, 2020
    Calera Capital, a leading middle-market private equity firm, today announced the appointment of Kevin Miller, the former Chairman and CEO of Benevis and Executive Chairman of Prospira Paincare, as an Operating Partner. Mr. Miller will assist Calera in evaluating and building attractive platform investments in the healthcare and business services sectors. Calera intends to commit $40 to $200 million of equity per investment in a range of transaction types which are primarily focused on family or founder-owned businesses.
  • Grande West Renews RBC $20,000,000 Credit Facility
    October 26, 2020
    Grande West Transportation Group Inc. (TSXV:BUS)(OTC PINK:GWTNF)(FRA:6LG) ("Grande West" or the "Company"), a Canadian manufacturer of mid-sized multi-purpose transit vehicles for sale in Canada and the United States, is pleased to announce that it has renewed its $20,000,000 credit facility ("Credit Facility"). The Royal Bank of Canada (RY) is providing a three-year revolving Credit Facility, based on the value of the Company's assets, for up to $20,000,000, to be used for ongoing working capital requirements.
  • Capitala Group Announces Investment in Mason West
    October 26, 2020
    Capitala Group (“Capitala”), a leading provider of capital to lower middle market companies, announced today that it has made an investment in Mason West (the “Company”), the industry leader in engineered seismic restraint and vibration isolation products. Capitala’s growth strategy investment provided debt and equity capital to the Company to provide for ongoing expansion in the market.
  • Guggenheim Securities Hires Joe Niemiec to Expand Middle Market Investment Banking Practice
    October 26, 2020
    Guggenheim Securities, the investment banking and capital markets division of Guggenheim Partners, announced today that Joe Niemiec has joined the firm as a Senior Managing Director to expand its middle market investment banking coverage and to focus on advising companies in the services and industrials sectors.
  • Fifth Third Announces Appointment of Timothy N. Spence as President
    October 26, 2020
    Fifth Third Bancorp (Nasdaq: FITB) today announced the appointment of Tim Spence as president. His promotion will support the Company’s ongoing successful execution of its strategic initiatives and further strengthen its position as a leading regional bank. In his new role, effective immediately, Spence will oversee all business lines and regional banking, while continuing his leadership of the Bank’s strategy. It was Spence’s strength in strategy that first brought him to Fifth Third in 2015.
  • North Mill Capital Provides a $20 Million Accounts Receivable & Inventory Credit Facility for Reliable Tire Co.
    October 26, 2020
    North Mill Capital announced it provided a $20 million accounts receivable & inventory credit facility for Reliable Tire Co. Proceeds were used to repay the prior lender and to provide additional working capital for the company.
  • Le Château Obtains Court Order for CCAA Protection
    October 26, 2020
    Under the terms of the Order, Gordon Brothers Canada ULC and Merchant Retail Solutions ULC have been appointed as the Company's consultants to implement the Liquidation and PricewaterhouseCooper Inc. has been appointed as monitor to the Company in these CCAA proceedings (the "CCAA Proceedings") to oversee the Company's operations during the Liquidation. Further, the Company obtained interim (DIP) financing from Wells Fargo Capital Finance Corporation Canada which will allow the Company to fund its post-filing working capital requirements during the Liquidation and the CCAA Proceedings.
  • Taronis Fuels Closes $10 Million Bank Credit Facility
    October 26, 2020
    Taronis Fuels, Inc., (“Taronis” or the “Company”) (OTCQB: TRNF), a global producer of renewable and socially responsible fuel products, today announced the closing of a $10 million senior, secured line of credit with Tech Capital, LLC (“Tech Capital”). Tech Capital is a wholly-owned subsidiary of Technology Credit Union in San Jose, California.
  • Taulia Appoints Andy Lee as Director, Supply Chain Finance
    October 26, 2020
    Taulia, the leader in working capital technology solutions, has today announced the appointment of Andy Lee as Director, Supply Chain Finance. Based in New York, Lee will be responsible for expanding Taulia's funding partners, building strategic relationships and supporting product development in North America.
  • CIBC Innovation Banking Provides Global Medical Technology Company Vapotherm Inc. With a US$52 Million Growth Financing
    October 26, 2020
    CIBC Innovation Banking is pleased to announce a US$52 million growth capital financing with Exeter-based Vapotherm, Inc. (NYSE: VAPO), (“Vapotherm”), a global medical technology company focused on the development and commercialization of its proprietary high velocity therapy, which is used to treat patients of all ages suffering from respiratory distress. Vapotherm will use the funding to repay its existing revolving loan facility and term loan facility.
  • APi Group Corporation Announces Successful Increase of Term Loan Facility and Confirms Date of Third Quarter 2020 Earnings Release
    October 26, 2020
    APi Group Corporation (the “Company” or “APi”) (NYSE: APG) announced today that it has entered into an incremental $250 million term loan facility, further strengthening the Company’s liquidity position. Citigroup Global Markets Inc., U.S. Bank National Association, Barclays, BofA Securities, Inc. and UBS Securities LLC acted as joint lead arrangers and bookrunners for the new term loan facility.
  • 1st Security Bank Announces the Promotion of Robert Nesbitt to the Position of Commercial Lending Team Leader
    October 26, 2020
    1st Security Bank announces that Robert Nesbitt has been promoted to the position of Senior Vice President, Commercial Lending Team Leader. Robert, who is based at the Bank's commercial lending offices in Mountlake Terrace, Washington, will be overseeing a group of commercial lending relationship managers and administering the continued growth of the Commercial and Industrial lending portfolio.
  • Brevet Capital Supports Manchester Financial Group’s Development of U.S. Navy’s Southwest Headquarters and Manchester Pacific Gateway Development in San Diego
    October 26, 2020
    Funds managed by Brevet Capital (“Brevet”), a leading specialty finance provider with a dedicated focus on the government sector, today announced the successful completion of a $212 million term loan facility provided to Manchester Financial Group, L.P. (“Manchester”), a leading San Diego-based hotel and commercial real estate developer.
  • Ares Management Appoints Raj Krishnan as Partner and Chief Investment Officer of Ares Insurance Solutions
    October 26, 2020
    Ares Management Corporation (“Ares”) (NYSE: ARES) announced today that Raj Krishnan has joined as Partner and Chief Investment Officer of Ares Insurance Solutions (“AIS”). Mr. Krishnan brings more than 25 years of insurance asset management experience to AIS. He joins from F&G Annuities & Life (“F&G”) where he most recently served as Executive Vice President and Chief Investment Officer, overseeing F&G’s $28 billion investment portfolio. In his new role, Mr. Krishnan will oversee insurance asset management for AIS and help optimize investment returns for more than 100 insurance clients across the Ares platform.
  • Samson Resources II, LLC Announces Redetermination and Extension of Reserve Based Lending Borrowing Base at $75 Million and Continuation of Drilling Plan in the Powder River Basin
    October 22, 2020
    Samson Resources II, LLC ("Samson" or the "Company") announced today that, pursuant to its regularly scheduled redetermination process, the Borrowing Base under its senior secured revolving credit facility has been redetermined by its lender group at $75 million with a one-year extension to November 2022. The Company ended the third quarter of 2020 with net debt of $3.5 million, providing ample liquidity for Samson to continue its development plans. Samson re-initiated its drilling and completion program in the Powder River Basin during August 2020.
  • Lucky Bucks Announces Credit Facility Upsize
    October 22, 2020
    Lucky Bucks (the "Company"), the largest digital skill-based coin operated amusement machine (COAM) route operator based in Atlanta, Georgia, announced today that it has completed an upsize on its existing credit facility, led by KeyBank N.A., raising an incremental $70 million in committed financing. The Company plans to use its incremental financing capacity to continue to capitalize on its acquisition strategy in distributed gaming and route-based operations in the State of Georgia.
  • Fifth Third Bank Strengthens Relationship with Bellwether Enterprise
    October 22, 2020
    Fifth Third Bank, National Association, announced today its second equity investment in Bellwether Enterprise Real Estate Capital, LLC (Bellwether Enterprise), the commercial and multifamily mortgage banking subsidiary of Enterprise Community Investment Inc. (ECI). In addition, Lars Anderson, executive vice president and vice chairman of Commercial Banking Strategic Growth Initiatives for Fifth Third, has been appointed to Bellwether Enterprise’s Board of Directors.
  • Alvarez & Marsal Expands Global Aerospace, Defense & Aviation Offerings With New Managing Director
    October 22, 2020
    Leading global professional services firm Alvarez & Marsal (A&M) has appointed New York-based Luigi “Lou” Peluso a Managing Director in its Private Equity Performance Improvement group. Mr. Peluso, who has extensive experience in the aerospace and defense industries, will serve in the firm’s global Aerospace, Defense & Aviation practice. His appointment reflects A&M’s commitment to meet the aerospace and defense industries’ growing demand for advisory services in the face of unprecedented operational challenges.
  • GOVCON Funding Corporation Announces DARP Program
    October 22, 2020
    GOVCON Asset Management Services, a division of GOVCON Funding Corporation has launched the Distressed Asset Redeployment Program (DARP), to assist global financial institutions in their ability to recapture investments within their Non-Performing Loans (NPL). Through the DARP program, GovCon Funding Corporation will provide strategic guidance, funding solutions, and asset management services to lending institutions. The DARP program focuses on financial institutions who have credit exposure to companies operating in the aerospace, defense, and government service markets.
  • Siena Announces $55M in New Facilities
    October 22, 2020
    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 Q3 2020. In firm news, we’ve expanded into additional office space to support our ongoing growth, and our commitment to ensuring the safest possible work environment for our team members.
  • Naturally Gerber Finance Funds Baby Food Maker Cerebelly
    October 22, 2020
    Gerber Finance, a leading finance partner for companies experiencing accelerated growth, announced the closing of a line of credit to Cerebelly, maker of organic, brain-supporting baby food. Cerebelly joins Gerber’s baby care product specialty under its recently launched Naturally Gerber Finance division, helping fast-growing companies in the natural products industry.
  • BDC Rating Outlook Turns Negative for 2021
    October 21, 2020
    Asset coverage is expected to be pressured for business development companies (BDCs) heading into 2021, prompting Fitch Ratings to revise its Rating Outlook for the sector to Negative, as detailed in the agency's special report. Credit performance across BDC portfolios is expected to deteriorate in 2021 given the impact that the coronavirus pandemic will continue to have on the U.S. economy.
  • Truist Expands Industry Consulting Team with Focus on Beverage Industry
    October 21, 2020
    Truist Financial Corporation (NYSE: TFC) today announces the expansion of the Truist Commercial Community Banking Industry Consulting team, adding the beverage sector to its growing list of industry specialties. Joseph Goode has joined Truist as a beverage industry consultant. In this role he will partner with local bankers across the Truist footprint to deliver industry-specific knowledge, bespoke content and customized solutions to manufacturers, bottlers, distributors and related businesses throughout the beverage supply chain.
  • Crestmark Provides More Than $50.8 Million in Commercial Financing to 135 Businesses in the First Half of October
    October 21, 2020
    Crestmark secured a total of $30,557,358 in ABL financial solutions for 13 new clients; Crestmark Equipment Finance provided $2,309,779 in two new lease transactions; Crestmark Vendor Finance provided $8,572,042 in 117 new transactions; the Government Guaranteed Lending group provided $9,396,250 in financing for three new clients in the first half of October.
  • Gordon Brothers Supports JSP Restructuring with €5M Investment in Machinery & Equipment of 4 Canarian Plants
    October 21, 2020
    Gordon Brothers, the global advisory, restructuring and investment firm, announced today it has agreed to purchase the Machinery & Equipment (the “M&E”) of the four plants of Jose Sanchez Peñate (“JSP”) in the Canary Islands. The M&E will be leased back to the company.
  • Caltius Structured Capital Provides Growth Capital to Salas O’Brien
    October 21, 2020
    Caltius Structured Capital (“Caltius”) is pleased to announce the closing of a growth capital investment in Santa Ana, Calif.-based Salas O’Brien. The investment will support Salas O’Brien’s continued national expansion via strategic mergers and organic growth initiatives.
  • Hilco Redevelopment Partners to Invest Hundreds of Millions of Dollars to Decommission, Demolish and Remediate the Former PES Refinery Site in Southwest Philly
    October 21, 2020
    Hilco Redevelopment Partners (HRP) announced that the company will invest hundreds of millions of dollars to decommission, demolish and remediate the former PES Refinery site, a site that has been a source of pollution for more than 150 years. HRP, the real estate development unit of Hilco Global, remediates and redevelops complex and obsolete industrial properties in cities nationwide.
  • A&G Completes Bankruptcy Sale of Stage Stores’ Texas Distribution Center and Other Real Estate Assets
    October 21, 2020
    A&G Real Estate Partners today announced that it has completed bankruptcy court-approved sales of Stage Stores, Inc.’s Jacksonville, Texas distribution center and two other properties to two buyers. The Melville, N.Y.-based A&G has been serving as real estate advisor for the Houston-headquartered retailer, which operated 738 conventional department stores and off-price stores under multiple brands at the time it filed voluntary petitions under Chapter 11 of the U.S. Bankruptcy Code in May 2020. The company has since liquidated all stores.
  • Kainos Capital to Acquire Nutrisystem
    October 21, 2020
    Kainos Capital, a private equity firm focused exclusively on the food and consumer industry, today announced that it has agreed to acquire Nutrisystem, the preeminent direct-to-consumer nutrition and weight management brand, from Tivity Health (Nasdaq: TVTY) for $575 million. Rabobank is providing debt financing for the transaction and is acting as financial advisor to Kainos (through Rabo Securities USA, Inc.). Winston & Strawn is serving as legal counsel to Kainos.
  • Monroe Capital Supports Quest Resource Holding Corporation’s Acquisition of Green Remedies Waste and Recycling Inc.
    October 21, 2020
    Monroe Capital LLC (“Monroe”) today announced it acted as sole lead arranger and administrative agent on the funding of a $11.5 million senior credit facility drawn at closing to support the acquisition of Green Remedies Waste and Recycling Inc. (“Green Remedies”) by Quest Resource Holding Corporation (Nasdaq: QRHC) (“Quest”). In addition, Quest potentially has access to more than $50 million in additional term debt financing to support Quest’s growth plans.
  • Accord Financial Launches New Brand Founded on Simplifying Access to Capital
    October 21, 2020
    Simplifying access to capital for small and medium businesses across the U.S. and Canada is the foundation of the new Accord Financial Corp. brand ("Accord") (TSX: ACD) that launches today. Accord, one of North America’s leading independent finance companies, is introducing a streamlined organizational structure bringing all commercial lending businesses under the Accord umbrella brand, with systems that seamlessly integrate both clients and financial partners resulting in fast and flexible financing.
  • CIT Serves as Joint Lead Arranger on $175 Million Financing for MSTS
    October 21, 2020
    CIT Group Inc. (NYSE: CIT) today announced that its Asset-Based Lending and Sponsor Finance businesses, both part of the Commercial Finance division, collaborated to serve as joint lead arranger on $175 million financing for MSTS, a B2B payment and credit solutions provider. Headquartered in Overland Park, Kansas, MSTS, a global leader in B2B payment and credit solutions, facilitates $6 billion in transactions per year in 17 currencies for customers in over 190 countries.
  • Sterling National Bank Provides $750,000 of Working Capital
    October 21, 2020
    Sterling National Bank's Commercial Services Group provided senior secured credit facilities totaling $750,000 to DH Environmental, Inc. (“DH” or the “Company”). The credit facilities will provide working capital to further expand and support the Company’s future projected growth.
  • PAE Announces New Senior Secured Credit Facilities
    October 21, 2020
    PAE (NASDAQ: PAE, PAEWW) today announced it has closed new senior secured credit facilities. The joint lead arrangers and joint bookrunners under the senior secured credit facilities are BofA Securities, Inc., Citizens Bank, National Association, Morgan Stanley Senior Funding, Inc., Stifel Nicolaus and Company, Incorporated and Truist Securities, Inc.
  • Focus Management Group Assists Gabriel’s Liquor Through Successful Chapter 11 Bankruptcy
    October 20, 2020
    Headquartered in Texas, Gabriel’s Liquor is the largest packaged store retailer in the greater San Antonio area. Established more than 60 years ago, Gabriel’s operated 33 stores under the names Gabriel’s Liquor and Don’s & Ben’s Liquor. On October 5, 2020, the sale of the business was successfully completed to Omega Capital Group.
  • Fifth Third Bank Selects nCino to Accelerate its Digital Transformation
    October 20, 2020
    nCino, Inc. (NASDAQ: NCNO), a pioneer in cloud banking and digital transformation solutions for the global financial services industry, today announced that Fifth Third Bank, National Association, has selected the nCino Bank Operating System as a foundational technology platform to help the Bank accelerate its digital transformation, streamline its commercial banking business and provide greater transparency, efficiency and convenience to its employees and clients.
  • Fifth Third Business Capital Arranges Refinancing for Image Options
    October 20, 2020
    Fifth Third Business Capital provided a $6.5 million revolving line of credit and term loan to Image Options in Foothill Ranch, CA. With a uniquely proactive, partnership-based approach to designing high-impact visuals, Image Options envisions, designs, fabricates and installs creative solutions for retail, corporate and event environments. 
  • Sallyport Commercial Finance Secures a $500,000 Accounts Receivable Line of Credit for Staffing Company
    October 20, 2020
    Sallyport Commercial Finance provides needed working capital for staffing firm servicing the oil and gas sector. The business found itself without a credit facility and abandoned when their current lender decided to exit out of energy. Taking the time to understand the client’s current situation and partnering with a credit insurance company to help mitigate risk, Sallyport structured a solution that will benefit the business in the short term so they can focus on the future.
  • First Horizon Bank Appoints Cara Rhodes as Vice President of Private Client Services in Middle Tennessee
    October 20, 2020
    First Horizon Bank, member of the First Horizon National Corp. (NYSE:FHN) family of companies announced that it has named Cara Rhodes as vice president with its private client services team.
  • Paladin Strengthens Leadership Team with Top Restructuring and Corporate Finance Experts Lance Miller and Peter Richter
    October 20, 2020
    Paladin, a leading middle-market advisory firm driving value-creation through financial and operational consulting services, announced today that industry leaders, Lance Miller and Peter Richter, have joined the firm as Partners. Combining decades of experience, both Lance and Peter have guided numerous organizations through operational and financial restructurings that have resulted in improved profitability and increased stakeholder value. The rapidly growing Paladin team continues to strengthen its client solutions with these two additions who are respected experts in law, restructuring and corporate finance.
  • White Cap and Construction Supply Group Combine to Create $4 Billion Market-Leading Distributor of Concrete Accessories and Specialty Construction Products
    October 20, 2020
    Of note, Deutsche Bank served as left lead, Administrative and Collateral Agent for a $700 million asset based revolving credit facility. Other components of the financing included a $2.335 billion Term Loan B, and a $640 million issue of Senior Unsecured Notes, both also left led by Deutsche Bank.
  • Business Capital Secures Expansion Financing for New England Power & Energy Plants
    October 20, 2020
    Business Capital (BizCap™) secured Growth Capital for Community Eco Power LLC (CEP), a group operating two plants in Massachusetts that convert waste to power, simultaneously providing resources for communities to implement successful Waste-to-Energy solutions. CEP’s goal is to preserve the land, conserve water, and reduce pollution in a pursuit of sustainability and to build the preeminent community-centered waste to energy company in the Northeast U.S.
  • Concord Financial Advisors Closes Another Deal Amidst Covid-19/SBA Deal Closes in 29 Days
    October 20, 2020
    Concord arranged a $4,000,000 senior secured revolving line of credit and $3,000,000 SBA 7A real estate loan. The SBA deal closed within 29 days of inception. The loan will be used to refinance existing debt & support working capital.
  • Express Closes $3MM Factoring Facility for Skincare/Haircare Company
    October 20, 2020
    Express Trade Capital, Inc., is pleased to announce a $3MM factoring facility to support the rapidly increased sales and high velocity production required for a ‘women owned’, sustainable and natural skincare/haircare brand based out of Frisco, Texas.
  • Citizens Advises EcoDigital on its Sale to Telestream
    October 20, 2020
    Citizens M&A Advisory served as the exclusive financial advisor to EcoDigital (formerly known as Front Porch Digital) in its sale to Telestream, combining two software businesses in the digital media industry. EcoDigital is a leading content storage management solution provider, empowering some of the largest media production companies in the world with the ability to optimize the storage and management of their digital media assets.
  • Great Rock Capital Closes $16 Million Credit Facility with VEDCO
    October 20, 2020
    Great Rock Capital, an asset-focused commercial finance company specializing in middle market lending, today announced the close of a $16 million senior secured credit facility with Virginia Explosives & Drilling Company (VEDCO), a leading full service drilling and blasting company. The increased borrowing capacity provides VEDCO with additional liquidity to execute on their short and long-term growth objectives. The tailored facility includes a term loan as well as a revolver.
  • TNT Successfully Completes Financial Restructuring
    October 19, 2020
    TNT Crane & Rigging, Inc. and certain of its affiliates ("TNT" or the "Company") today announced that the Company and certain subsidiaries have emerged from chapter 11 bankruptcy protection, completing a transaction that has strengthened the Company's balance sheet and best positions TNT for future success. This turning point marks the implementation of the Company's prepackaged plan of reorganization, which was confirmed by the U.S. Bankruptcy Court for the District of Delaware on September 30, 2020. The Company completed its restructuring in just over five weeks.
  • Fly Leasing Closes New $180 Million Term Loan
    October 19, 2020
    Fly Leasing Limited (NYSE: FLY) ("FLY"), a global leader in aircraft leasing, today announced it has closed a new $180 million Term Loan (the "2020 Term Loan"). The interest rate on the five-year term loan is LIBOR plus 6.00% with a 1.00% LIBOR floor. The financing was issued at an original issue discount of 4.5%. The 2020 Term Loan will be secured by 11 narrowbody aircraft owned by FLY and its subsidiaries, four of which are unencumbered and seven of which are currently financed in FLY's 2012 Term Loan. The proceeds will be used for general corporate purposes.
  • Libbey Announces Confirmation of Plan of Reorganization
    October 19, 2020
    Libbey has secured exit financing consisting of a $150 million term loan and a $100 million asset-based lending facility, and expects to emerge from the Chapter 11 process with less than $200 million of funded debt. Latham & Watkins LLP is serving as legal advisor to Libbey, Alvarez & Marsal is serving as restructuring advisor and Lazard is serving as financial advisor.
  • Millicom Announces the Refinancing of its Revolving Credit Facility With a New $600 Million ESG-Linked Facility
    October 19, 2020
    The Bank of Nova Scotia and BGL BNP Paribas acted as Joint Bookrunners and Joint Mandated Lead Arrangers. BNP Paribas acted as Documentation Agent and DNB Bank ASA acted as ESG Coordinator. The Bank of Nova Scotia also acts as Administrative Agent.
  • H.I.G. Capital Continues Growing Its Infrastructure Team With the Addition of Ahmad Atwan as Managing Director
    October 19, 2020
    H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with over $40 billion of equity capital under management, announced today that Ahmad Atwan has joined the firm as a Managing Director on the infrastructure team. He will be responsible for all aspects of the investment process including origination, transaction structuring, financing and execution of post-closing strategies.
  • Norwest Equity Partners Recapitalizes Surgical Information Systems with Accel-KKR, Maintains Minority Ownership Stake for Continued Growth
    October 19, 2020
    Norwest Equity Partners (“NEP”), a leading middle market investment firm founded in 1961, has completed a recapitalization of its investment interest in Surgical Information Systems (SIS), the industry leader for business and clinical surgical software for ambulatory surgery centers (ASCs) and hospitals, to Accel-KKR (“AKKR”), a leading technology-focused investment firm. Post-transaction, NEP will invest alongside AKKR and retain a minority ownership stake in SIS. The transaction closed October 15, 2020; financial terms were not disclosed.
  • Scholar Rock Secures $50 Million Debt Facility with Silicon Valley Bank and Oxford Finance
    October 19, 2020
    Scholar Rock (NASDAQ: SRRK), a clinical-stage biopharmaceutical company focused on the treatment of serious diseases in which protein growth factors play a fundamental role, today announced the closing of a $50 million debt facility with Silicon Valley Bank and Oxford Finance LLC, of which the first $25 million was funded at closing. Scholar Rock intends to use the proceeds for general corporate purposes, including the advancement of the Company’s pipeline and for pre-commercialization preparations.
  • Lucy To Joins Wells Fargo’s Corporate & Investment Banking Healthcare Group
    October 19, 2020
    Wells Fargo Corporate & Investment Banking, a division of Wells Fargo & Company (NYSE: WFC), announced today that Lucy To has joined its Healthcare Coverage group as a managing director focused on the biotech investment banking sector. Based in New York, To will report to John Fowler, head of Healthcare within the CIB Coverage group.
  • Caltius Structured Capital Provides Growth Capital to Salas O’Brien
    October 19, 2020
    Caltius Structured Capital (“Caltius”) is pleased to announce the closing of a growth capital investment in Santa Ana, Calif.-based Salas O’Brien. The investment will support Salas O’Brien’s continued national expansion via strategic mergers and organic growth initiatives.
  • Hilco Redevelopment Partners Names Melissa Schrock to New Role as Senior Vice President – Mixed-Use Development
    October 19, 2020
    Hilco Redevelopment Partners (HRP), the real estate development unit of Hilco Global that remediates and redevelops complex and obsolete industrial properties, announced today it has appointed Melissa Schrock to the newly-created position of Senior Vice President – Mixed-Use Development. Ms. Schrock joins HRP’s executive team to lead the firm’s expansion into the urban mixed-use development space. In this important role, she will have responsibility for the management of several exciting projects currently underway, including L Street Station in Boston, Massachusetts and Campus Bay in San Francisco, California, among other significant projects throughout the country.
  • Hertz Global Holdings Secures Commitments Of $1.65 Billion In Debtor-In-Possession Financing
    October 19, 2020
    Hertz Global Holdings, Inc. (NYSE: HTZ) today announced that it has secured commitments for debtor-in-possession ("DIP") financing totaling $1.65 billion and has filed a motion for approval of the financing by the U.S. Bankruptcy Court for the District of Delaware.
  • YogaWorks Takes Voluntary Action to Position Company for Future Success
    October 19, 2020
    YogaWorks, (the “Company”), one of the leading providers of authentic yoga instruction in the United States, announced today that it has voluntarily filed petitions under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware (the “Court”). As part of this process, YogaWorks has entered into a purchase agreement (“Agreement”) with Serene Investment Management (“Serene”), pursuant to which Serene will serve as the stalking-horse bidder and has agreed to acquire the YogaWorks digital and education business and intellectual property.
  • First Eagle Alternative Credit Completes Third Middle Market CLO
    October 19, 2020
    First Eagle Alternative Credit, LLC ("First Eagle"), a leading alternative credit manager with $21 billion of AUM, today closed Lake Shore MM CLO III (“Lake Shore III”) at $318 million. The offering represents First Eagle’s third collateralized loan obligation (“CLO”) that includes middle market leveraged loans.
  • BHI Specialty And Sponsor Finance Remains Active During the COVID-19 Pandemic, Arranges $100 Million in New Financing
    October 19, 2020
    BHI, a full-service commercial bank, announced that its Specialty and Sponsor Finance Group continued to maintain a high level of activity for new and existing clients during the peak of the global pandemic. The team’s most recent deals include a $55 million senior secured credit facility for a New Jersey-based paper distributor, and an increase in the bank’s revolver commitment of $45 million to support a strategic acquisition for a private equity-owned manufacturer of specialty labels.
  • Cornerstone Business Credit Launches New Platform Providing Asset-based Loans and Factoring Solutions
    October 19, 2020
    Cornerstone Business Credit, a Boston-based specialty finance company, launches new platform providing asset-based loans and factoring solutions to smaller non-bankable businesses. Industry veteran, David Lawrence, will lead the effort in providing credit facilities starting as low as $20,000 to highly leveraged, rapid growth companies as well as deep turnaround situations.
  • Cascadia Capital Launches I-banking Practice Focused on Robotics, Automation, AI
    October 19, 2020
    The practice is led by Cascadia Capital Chairman and CEO Michael Butler and Managing Directors Jamie Boyd and Firdaus Pohowalla, with support from Vice Presidents Yee Lee and Jason Lippenberger, Associate Tarek Elmasry, and Analysts Scott Whiting and Mikaela Slade.
  • SUMR Brands Closes on New Credit Agreement for Future Growth, Reflecting Improved Operating Performance
    October 19, 2020
    SUMR Brands ("SUMR" or the "Company") (NASDAQ: SUMR), a global leader in premium infant and juvenile products, today announced that it has entered into a Third Amended and Restated Loan and Security Agreement with Bank of America, N.A. (the “Credit Facility”) that replaces its prior $48.0 million asset-based revolving credit facility (“ABL”) with Bank of America and $17.5 million term loan with Pathlight Capital LLC.
  • Northleaf Arranges $50 Million Credit Facility for FundThrough
    October 19, 2020
    Northleaf Capital Partners (Northleaf) today announced that it acted as the sole lead arranger of a US$50 million senior secured credit facility to support the recapitalization and growth of FundThrough Inc. (FundThrough), North America's leading tech-enabled invoice funding company for small- and medium-sized businesses. The Northleaf facility expands FundThrough’s funding resources to serve more small businesses in the United States and Canada at a time when governments are scaling back lending programs, large companies are extending payment terms to their smaller suppliers, and traditional financial institutions are tightening access to credit.
  • Earnings in the U.S. Middle Market Grew by 15% in Q3 2020
    October 19, 2020
    Overall, Index revenue grew by 1% during the first two months of the third quarter. The Golub Capital Altman Index can provide early insight into the financial performance of public companies and GDP in advance of earnings season.
  • MUFG to Launch Capital Markets Strategy Group
    October 19, 2020
    Mitsubishi UFJ Financial Group (MUFG), one of the world's leading financial groups, today announced that it will launch a Capital Markets Strategy group to advise and equip C-suite audiences with insights to anticipate, understand, and respond to important market and macroeconomic developments. The Capital Markets Strategy group will be led by Tom Joyce who joins MUFG from Deutsche Bank. The group will be integrated across MUFG's Capital Markets and Corporate and Investment Banking businesses. Mr. Joyce will be based in New York and report jointly to Brian Cogliandro, Co-Head of Capital Markets, and to Mark Thumser, Head of Strategy & Business Operations in the Global Corporate & Investment Bank.
  • Amerisource Closes $1,000,000 Credit Facility for Refinery Services Firm
    October 19, 2020
    Amerisource Business Capital announced the closing and funding of a $1,000,000 credit facility for a Texas based firm which provides repair and maintenance services to the petrochemical industry. The proceeds are being used to fund the company’s ongoing working capital needs.
  • Fifth Third Business Capital Arranges New Senior Credit Facility to support recapitalization of Southern Ag Carriers, Inc.
    October 15, 2020
    Southern Ag Carriers Inc. is a transportation and logistics service provider for agricultural products and other food and consumer products. The Company was founded in 1990 and is the largest hauler of peanuts in the U.S. with the capability and expertise to move peanut freight throughout the entire channel (farm stock to sheller to processor to end user). Learn more about Southern Ag Carriers, Inc. by visiting sou-ag.com.
  • Sallyport Commercial Finance Expedites a $1.5M Funding Request for Service Provider to Cover Payroll
    October 15, 2020
    Sallyport Commercial Finance helps a service provider in the oil and gas sector meet critical time lines to meet payroll. The business found itself short on funds as they tapped out their PPP funding and scrambled to cover payroll. In less than a week, Sallyport’s team structured a $1,500,000 credit facility, keeping the business on track.
  • Huntington Business Credit Closes New Credit Facilities with Leahy Institutional Foods Packing Company
    October 15, 2020
    Huntington Business Credit announced it closed new $22,000,000 credit facilities with Leahy Institutional Foods Packing Company on September 23, 2020. Proceeds of the facilities were used to refinance existing indebtedness and provide ongoing working capital growth financing.
  • International African American Museum Receives New Markets Tax Credits from TD Community Development Corporation
    October 15, 2020
    TD Community Development Corporation (TDCDC), a wholly-owned subsidiary of TD Bank, N.A., announced today its allocation of New Markets Tax Credits (NMTC) to the International African American Museum in Charleston, South Carolina, to assist in its construction project and opening. The substantial allocation results in an equity investment of more than $5.5 million from TD.
  • Tiger Group Selling Multi-Million-Dollar Disposable and Durable Medical Supply Inventory in Connection with Major Distributor's Wind-Down
    October 15, 2020
    Tiger Group is now accepting offers for bulk purchases of inventories from six facilities on the east and west coasts operated by American Medical Depot (AMD), a major distributor of medical equipment and supplies that is now winding down its business. The multi-million-dollar inventory encompasses over 350,000 products from some 2,000 manufacturers. Items range from personal protective equipment (PPE) to personal paper products, hospital textiles, sterilization wraps, swabs/cotton balls, medical gloves, bandages/dressings, alcohol products, acute care monitoring units, needles, test kits and calibrators.
  • CIT Leads Expansion of Credit Facility to $400 Million for Mobilitie
    October 15, 2020
    CIT Group Inc. (NYSE: CIT) today announced that its Technology, Media and Telecommunications business has led an expansion of an existing credit facility to $400 million to support rapidly accelerating growth by Mobilitie Investments III LLC, a telecommunications infrastructure provider. Mobilitie owns and operates a large nationwide portfolio of wireless communications infrastructure, including communication towers and distributed antenna systems across large outdoor and indoor public venues.
  • Derek Binns Joins the Tradewind Group as Vice President of Sales for Europe
    October 15, 2020
    Tradewind is pleased to announce that Derek Binns has been appointed to the role of Vice President of Sales Europe, working closely with the firm’s headquarters team in Mönchengladbach, Germany. As VP Sales, Derek will focus on supporting the Tradewind Group’s client base all across Europe, with a specific concentration on countries where major buyers are established.
  • Greenberg Traurig Continues Strategic Expansion of Restructuring & Bankruptcy Capabilities, Adds Kevin J. Walsh in Boston
    October 15, 2020
    Global law firm Greenberg Traurig, LLP has added Kevin J. Walsh to its Boston office as a shareholder in the firm’s Restructuring & Bankruptcy Practice. Walsh has more than 25 years of experience advising debtors and creditors on bankruptcy and commercial law matters. These include restructurings, workouts, and commercial financing transactions, as well as the negotiation and documentation of commercial loans and credits.
  • Chaparral Energy Successfully Completes Financial Restructuring and Raises $35 Million in New Capital
    October 15, 2020
    Chaparral Energy, Inc. (the “Company” or “Chaparral”) announced today that it successfully completed its financial restructuring and emerged from Chapter 11 as a private, non-SEC filing company. Through the efficient execution of its pre-packaged plan of reorganization, which received broad support from its creditors, the Company has equitized all $300 million of its unsecured 8.75% Senior Notes due 2023 (the “Senior Notes”), reduced its annual interest expense by more than $25 million, and significantly enhanced its financial flexibility.
  • CIBC Innovation Banking Provides Digital Healthcare Management Platform, Chronometriq Inc., with $5 Million in Growth Capital Financing
    October 15, 2020
    CIBC Innovation Banking is pleased to announce a $5 million growth capital financing with Montreal-based Chronometriq Inc. (“Chronometriq”), a patient engagement software provider for medical clinics across North America. Chronometriq recently acquired competitor Health Myself as part of its growth strategy, and will use this financing to support its plans for further growth across North America.
  • Acme to Buy 27 Kings Food Market and Balducci’s for $96.4M
    October 15, 2020
    Malvern, PA-based Acme Markets Inc., a division of Albertsons Cos., said late Wednesday it will acquire 27 Kings Food Market and Balducci’s Food Lover’s Market stores for $96.4 million in cash under a bankruptcy auction. The stores will become part of the Mid-Atlantic division of Albertsons, which operates Acme and Safeway stores on the east coast.
  • Versant Funding LLC Funds a Non-recourse Factoring Facility to a National CBD Distributor
    October 15, 2020
    Versant Funding LLC is pleased to announce it has funded a $1,500,000 non-recourse factoring facility to a national distributor of CBD-infused body care products.
  • Crestmark Welcomes James Jenkins as National Account Executive to Crestmark Equipment Finance
    October 15, 2020
    Crestmark is pleased to announce the appointment of James Jenkins as National Account Executive for the Crestmark Equipment Finance (CEF) group. Jenkins reports to Arick Levine, CEF eastern region sales manager. Jenkins brings nearly 40 years of equipment financing experience to Crestmark. Most recently, he served as senior vice president, director of vendor and head of commercial direct with BCI Capital, where he was responsible for building out a vendor platform and managing a small direct salesforce.
  • Hovde Group Launches Asset Management Advisory Effort With Addition of Mark Timperman
    October 14, 2020
    Hovde Group (“Hovde”), a leading full service investment bank and broker dealer that provides investment banking, capital markets, equity research, and sales and trading services focused on the financial services sector, today announced that it has formed a new practice to advise asset management and wealth management companies, led by Mark Timperman as Managing Director and Head of Asset Management Investment Banking.
  • K&W Cafeterias Retains M&A Specialist SC&H Capital
    October 14, 2020
    By order of the US Bankruptcy Court, Middle District of North Carolina, Winston-Salem Division, SC&H Capital, a leading investment bank specializing in M&A advisory, has been retained as the exclusive investment banker to K&W Cafeterias (“K&W” or “the Company”) for the sale of 18 cafeteria-style restaurants. K&W is an 83-year-old, Winston-Salem based, family owned and operated restaurant chain with locations in North Carolina, South Carolina, and Virginia, specializing in made from scratch, home-style southern food at an affordable price.
  • Conifex Announces Secured Revolving Credit Facility
    October 14, 2020
    Conifex Timber Inc. ("Conifex") (TSX: CFF) announced today that it has completed a $10 million secured revolving credit facility (the "Facility") with Wells Fargo Capital Finance Corporation Canada. The Facility is available for a term of 3 years and is substantially secured by Conifex's lumber segment inventory, equipment and accounts receivable.
  • Metropolitan Commercial Bank Hires Senior Finance Specialist
    October 14, 2020
    Metropolitan Commercial Bank today announced that Maryann Metlitz joined the Bank as Vice President, Commercial Lending Officer. She will report to Luke J. Kaufman, First Vice President, Head of Commercial Lending. Ms. Metlitz brings more than 30 years of banking experience to Metropolitan Commercial Bank and has focused exclusively on the finance sector for the last 15 years. She was recently Vice President, Dealer Relationship Manager at BB&T Bank.
  • Monroe Capital Supports Apax Partners’ Acquisition of MyCase
    October 14, 2020
    Monroe Capital LLC (“Monroe”) today announced it acted as sole lead arranger and administrative agent on the funding of a senior credit facility to support the acquisition of MyCase, Inc. by private equity sponsor Apax Partners.
  • Enova Completes Acquisition of OnDeck
    October 14, 2020
    Enova International (NYSE: ENVA), a leading financial technology and analytics company offering consumer and small business loans and financing, today announced it has completed the acquisition of On Deck Capital, Inc. (NYSE: ONDK), a leader in online lending for small business, for $1.89 per share, or approximately $122 million. The acquisition creates a company with significant scale and diverse product offerings in consumer and small business market segments with combined originations of nearly $5 billion in 2019 and approximately seven million customers.
  • LBC Credit Partners Supports the Investment In Rogers Mechanical Contractors, Inc.
    October 13, 2020
    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 investment in Rogers Mechanical Contractors, Inc. by Craft Work Capital Partners, LLC, a specialized joint venture backed by Aterian Investment Partners. LBC served as agent and sole lead arranger for the senior secured credit facility.
  • Z Capital Group Expands Credit Team
    October 13, 2020
    Z Capital Group, LLC ("ZCG" or the "Firm"), a leading privately held global investment firm with complimentary private equity and credit businesses, today announced the addition of Egidio Carlino as Director and Jordan Shrem as Senior Associate. Mr. Carlino is responsible for research and analysis of existing and prospective portfolio leveraged finance investments and Mr. Shrem is responsible for trade support and execution. Both will be members of Z Capital Credit Partners' ("ZCCP") Investment Team.
  • Goldman Sachs BDC, Inc. Closes Merger with Goldman Sachs Middle Market Lending Corp.
    October 13, 2020
    Goldman Sachs BDC, Inc. (“GSBD” or the “Company”) (NYSE: GSBD) announced today that it has completed its previously announced merger with Goldman Sachs Middle Market Lending Corp. (“MMLC”). The transaction has more than doubled GSBD’s asset base to $3.5 billion and has delivered significant deleveraging, which will enable the Company to take advantage of attractive lending opportunities available in the current environment.
  • Maxim Commercial Capital Funds Deals in 32 States During 3Q 2020
    October 13, 2020
    Maxim Commercial Capital is pleased to report it funded hard asset-secured financings for small and mid-sized businesses (SMBs) in 32 states during the third quarter of 2020. Despite the year’s exceptional challenges, Maxim has not wavered in its commitment to support the capital needs of existing and prospective borrowers. Maxim lends from $10,000 to $3,000,000 to SMBs nationwide, secured by heavy equipment and real estate, to facilitate asset purchases, working capital and to refinance expensive short-term debt.
  • TradeCap Partners Closes Two PO Finance Facilities
    October 13, 2020
    TradeCap Partners recently closed two PO Finance facilities totaling $18mm for two government contractors selling personal protective equipment (PPE). One contractor was a woman owned business with extensive experience in sourcing PPE. The other, a team of disabled veterans with strong logistics and sourcing backgrounds.
  • Briar Capital Real Estate Fund (BCREF) Provides a $2.50MM Real Estate Term Loan to a Florida Brewery
    October 13, 2020
    Briar Capital Real Estate Fund ("BCREF") (www.BriarCapital.com) is pleased to announce it provided a $2.50MM real estate term loan to a Florida brewery. In addition to its multiple award-winning beers, the company also manufactures and packages cold brew coffees with planned expansion into hand crafted ice creams.
  • Commercial Funding Inc. Closes First ABL Transaction
    October 13, 2020
    Accounts receivable finance company Commercial Funding Inc. successfully funded its first asset-based lending (ABL) transaction, providing $3.5 million for a transportation company.
  • White Oak Commercial Finance Provides $25 Million ABL Facility for Acquisition of Women’s Apparel Brands
    October 13, 2020
    White Oak Commercial Finance, LLC (“White Oak”), an affiliate of White Oak Global Advisors, LLC, announced it provided a $25 million ABL facility to Saadia Group, LLC for the acquisition of two women’s apparel brands from e-commerce retailer, RTW Retailwinds Inc. (“RTW”), which is undergoing bankruptcy proceedings. The funding, completed in less than 30 days, supports Saadia Group’s acquisition of RTW’s e-commerce brands, New York & Company and Fashion to Figure, and their related intellectual property. The company plans to incorporate and promote the legacy brands to further increase its online retail footprint.
  • Citizens Advises EasyWorkforce Software Corporation on its Growth Equity Investment from CFH Strategic Investment I, LLC
    October 13, 2020
    Citizens M&A Advisory served as the exclusive financial advisor to EasyWorkforce Software Corporation, a leading workforce management software provider, on its growth equity investment from CFH Strategic Investment I, LLC. Founded in 2011, and formerly known as EasyClocking, EasyWorkforce is globally recognized as a premier workforce management solution provider.
  • Yieldstreet Private Business Credit - 3Q20 Update
    October 13, 2020
    Yieldstreet Private Business Credit (“PBC”) (www.yieldstreet.com/private-business-credit-investment), a provider of single and multi-tranche direct term loans to growing businesses and participations with specialty finance companies, banks, credit funds and private equity-backed companies has closed a total of $42 million after recently announcing the launch of the new PBC vertical on June 23, 2020.
  • Centric Brands Emerges from Chapter 11 with Strengthened Balance Sheet
    October 12, 2020
    Centric Brands LLC (the “Company”), a leading lifestyle brands collective, announced today that it has completed its financial restructuring and emerged from voluntary Chapter 11 proceedings, implementing the Company’s Plan of Reorganization (the “Plan”) that was approved by the United States Bankruptcy Court for the Southern District of New York.
  • CSG Investments, Inc. Announces $200M Term Loan for Kosmos Energy's Gulf of Mexico Business Unit
    October 12, 2020
    CSG Investments, Inc., a global buy-and-hold institution headquartered in Dallas, Texas, announces a $200 million senior secured term loan maturing in five years for Kosmos Energy Ltd.'s Gulf of Mexico business unit on September 30, 2020, with funding provided by Beal Bank USA and Trafigura Trading LLC.
  • HPD LendScape Partners With Emirates Development Bank to Launch New National Supply Chain Finance Platform
    October 12, 2020
    HPD LendScape, a leading international secured lending platform vendor, today announces it has partnered with Emirates Development Bank (EDB) to launch UAE's National Supply Chain Finance (SCF) platform, giving UAE businesses improved access to working capital, particularly as they cope with the added pressures of the COVID-19 pandemic.
  • Pacific Oak Capital Markets Group Expands Sales Team and Appoints Travis Hamlin as Regional Vice President, Four Corners Region
    October 12, 2020
    Pacific Oak Capital Markets Group, an alternative investment distributor and wholly-owned subsidiary of Pacific Oak Capital Advisors ("Pacific Oak"), announced today that Travis Hamlin has joined the company as regional vice president for the "Four Corners" region. Pacific Oak Capital Markets Group works with registered investment advisors and broker-dealers throughout the country to distribute Pacific Oak's various real estate-related investment products.
  • BrightPet Nutrition Receives Loan for Acquisition by Alvarez & Marsal
    October 12, 2020
    BrightPet Nutrition Group LLC received a senior secured credit facility backing an acquisition of the company by Alvarez & Marsal Capital Partners. Varagon Capital Partners is administrative agent. Varagon and Morgan Stanley Private Credit are joint lead arrangers.
  • Business Capital Arranges Expansion Financing for Three Horse Ranch Vineyards LLC
    October 12, 2020
    Business Capital (BizCap™) secured USDA backed Construction Financing for 3 Horse Ranch Vineyards LLC (3HRV), a leading vertically integrated winery. The vast historic ranch is the largest family owned winery in Idaho, located in the Eagle Foothills AVA with acreage capable of producing 150 tons of grapes per year, yielding a wide array of red and white varietals from Cabernet Sauvignon to Sauvignon Blanc.
  • FreightCar America, Inc. Completes Key Steps in Previously Announced Manufacturing Repositioning
    October 12, 2020
    FreightCar America, Inc. (NASDAQ: RAIL) (“FreightCar America” or the “Company”) announced today that it has made significant progress in its manufacturing repositioning and business transformation strategy. Obtains new asset-backed credit facility to facilitate the business and repositioning process going forward.
  • Huntington Bank Takes Top Spot Nationally For SBA 7(a) Loan Origination By Volume For Third Consecutive Year
    October 12, 2020
    Huntington (Nasdaq: HBAN; www.huntington.com) is the nation's largest originator, by volume, of Small Business Administration (SBA) 7(a) loans for the third consecutive year at the close of SBA fiscal year 2020, further strengthening its position as the leader in supporting small businesses. This also marks the 12th year in a row Huntington has been the largest originator, by volume, of SBA 7(a) loans within its footprint.
  • Southwestern Energy Announces Reaffirmation of Credit Facility and Approved Increase Upon Closing of Acquisition
    October 12, 2020
    of Acquisition Southwestern Energy Company (NYSE: SWN) today announced its borrowing base was reaffirmed at $1.8 billion during its fall semi-annual redetermination. Additionally, upon the close of the Montage Resources acquisition, the Company’s borrowing base and bank commitments will increase to $2.0 billion, with asset coverage exceeding the Company’s borrowing base level.
  • Solar Company in California Chooses TAB Bank for a $2.5 Million Revolving Credit Facility
    October 12, 2020
    A solar company in California has chosen TAB Bank for a $2.5 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 designs and manufactures proprietary systems to mount solar panels and accessories to residential sloped roofs. They sell through solar distributors, regional contractors, and select national contractors.
  • Golden Star Completes Amendments and Upsizing of Senior Secured Credit Facility
    October 12, 2020
    Golden Star Resources Ltd. (NYSE American: GSS) (TSX: GSC) (GSE: GSR) ("Golden Star" or the "Company") is pleased to announce the amending and upsizing of the senior secured credit facility ("the Credit Facility" or "the Facility") with Macquarie Bank Limited entered into by the Company on October 17, 2019. All monetary amounts refer to United States dollars.
  • Oxford Finance Provides $55 Million Credit Facility to SpendMend
    October 12, 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 $55 million senior credit facility and revolving line of credit to SpendMend (or "the Company"), a portfolio company of Sheridan Capital Partners.
  • Chapter 11 Court Approves DIP Financing Facility
    October 12, 2020
    Grupo Aeroméxico, S.A.B. de C.V. ("Aeromexico" or the "Company") (BMV: AEROMEX) announces that following our previous relevant events dated August 13th, August 19th and September 9th 2020, regarding (a) securing the commitment for US$1,000 million senior secured superpriority multi-tranche debtor in possession term loan facility (the "DIP Facility"), (b) interim approval of the DIP Facility by Judge Shelley C. Chapman of the United States Bankruptcy Court for the Southern District of New York (the "Chapter 11 Court"), and (c) the funding of US$100 million of tranche 1 loans under the DIP Facility, today, Judge Chapman approved the DIP Facility on a final basis, which was a condition precedent to the availability of the undrawn portion of the tranche 1 loans (US$100 million), as well as the tranche 2 loans
  • EyePoint Pharmaceuticals Announces Amendment to CRG Debt Facility Modifying 2020 and 2021 Revenue Covenants
    October 12, 2020
    EyePoint Pharmaceuticals, Inc. (NASDAQ: EYPT), a pharmaceutical company committed to developing and commercializing innovative ophthalmic products, today announced an amendment to its existing debt facility with CRG Servicing LLC (CRG). Under the terms of the amendment, CRG has waived the covenant associated with the Company’s net product revenue of DEXYCU® and YUTIQ® for the twelve-month period ending on December 31, 2020. The parties also agreed to a reduction of the December 31, 2021 net product revenue covenant to $45 million from $80 million based on the promising recovery and return in customer demand for both products following COVID-19-related closures. There were no other material changes made to the term loan agreement with CRG.
  • HR Veteran Joins CapitalPlus Team
    October 12, 2020
    CapitalPlus Construction Services, a leading provider of accounts receivable financing for the construction industry, recently announced the addition of Clare J. Deegan as Director of Human Resources and Business Office Manager. In her new role she will oversee benefits administration, A/P and A/R functions as well as all personnel management responsibilities, from recruiting and onboarding to team building and exit interviews.
  • North American Construction Group Ltd. Announces $325M Upsized & Extended Credit Facility
    October 12, 2020
    The amendment process commenced in September 2020, led by National Bank of Canada, with the primary objective of extending favourable existing terms and conditions. This agreement took on an increased importance this year as the Company looks to mitigate risks related to the COVID-19 pandemic. With this agreement in place, liquidity is expected to remain well above $100 million for the duration of the agreement.
  • Santander Bank Announces Key Executive Appointments
    October 12, 2020
    Santander Bank, N.A. (“Santander Bank” or “the Bank”) announced today the appointment of three key executives: Patrick Smith has been named Head of Small Business Banking, Giancarlo Marchesi has been named Head of Consumer Lending, and Jennifer Mathissen has been named Chief Marketing Officer. They will report to Head of Consumer and Business Banking Pierre Habis. The appointments are another important step in Santander Bank’s growth and transformation strategy.
  • CVC Credit Partners Prices Second CLO in a Month
    October 12, 2020
    CVC Credit Partners ("CVC Credit") is pleased to announce that it has priced Apidos XXXIV, a Collateralized Loan Obligation ("CLO") fund totalling $402.5 million. This is the second CLO fund CVC Credit has priced in the last month, following the pricing of Cordatus XVIII in late September. Together these funds total c.$850 million of new issuance and will increase CVC Credit's global CLO funds raised in 2020 c.$1.6 billion. Pro forma for both funds CVC Credit's global CLO assets under management now stand at approximately $17 billion. Arranged by Deutsche Bank, Apidos XXXIV is CVC Credit's second new-issue CLO to price in the U.S. in 2020 and will increase U.S. CLO AUM to approximately $10 billion.
  • IBC Advanced Alloys Secures Extension of Line of Credit and Term Loan Facility with BMO Harris Bank
    October 8, 2020
    IBC Advanced Alloys Corp. (“IBC” or the “Company”) (TSX-V: IB; OTCQB: IAALF) announces that it has secured renewals of its existing line of credit and its term loan facility with BMO Harris Bank (”BMO”). The renewals extend the line of credit and term loan facility until September 30, 2021. Approximately $3.5 million is available to the Company under the line of credit.
  • Gateway Trade Funding Closed a Purchase Order Facility for a Beauty Company
    October 8, 2020
    Gateway Trade Funding, a PO and trade financing company, is happy to announce that we recently funded a purchase order facility that gave a beauty company the financing they needed to accept and fill a large order. True + Luscious, a clean beauty company, received a large order but lacked the cashflow to accept it. The growing company turned to Gateway Trade Funding to help fill this order with the help of their purchase order financing.
  • Hilco Global Engaged by Shop-Vac to Assist in Closing Global Operations
    October 8, 2020
    Hilco Global, the world’s premier authority on asset valuation, monetization, and advisory services, announced that they have been retained to assist in the liquidation of U.S. and international operations for Shop-Vac. Shop-Vac was established in 1953 and is headquartered in Williamsport, Pennsylvania. The company pioneered the concept of the wet/dry vacuum cleaner and was the leading manufacturer of wet/dry vacuums and accessories when it ceased operating in September 2020.
  • SC&H Capital Advises A.C. Furniture Company, Inc. in its Sale to Multiple Buyers
    October 8, 2020
    SC&H Capital, a leading investment bank specializing in M&A advisory, announced it acted as the exclusive investment banker to A.C. Furniture Company, Inc. (“A.C. Furniture” or “the Company”) in the sale of its equipment, inventory, and some of its real estate assets to Linon Home Décor Products, Inc. (“Linon”), a New York Corporation. Other real estate parcels were sold to Blue Empire, LLC, and Holland Industrial Group.
  • 24 Hour Fitness Announces Restructuring Support Agreement to Position Company for Long-Term Success
    October 8, 2020
    24 Hour Fitness (the “Company”), an industry-leading fitness brand for over 35 years, today announced that it has entered into a restructuring support agreement (the “RSA”) with lenders beneficially holding approximately 73% of the Company’s secured debt and approximately 65% of the Company’s senior unsecured notes on the terms of a comprehensive restructuring plan (the “Plan”). The RSA sets forth terms for a financial restructuring that will reduce approximately $1.2 billion dollars of funded debt, provide increased financial flexibility to help navigate through the Coronavirus (COVID-19) pandemic, and better position 24 Hour Fitness for long-term success.
  • CIT Chairwoman and CEO Ellen R. Alemany Receives Leadership Legacy Award
    October 8, 2020
    Honored by the Center for Executive Succession at the Darla Moore School of Business for a legacy of fostering talent and delivering performance.
  • First Business Growth Funding Finances Multiple COVID-19 Vaccine Trials
    October 8, 2020
    First Business Growth Funding, a division of First Business Capital Corp., announced today that it is financing multiple COVID-19 vaccine trials at various sites throughout the United States. The COVID-19 vaccine trials are in Stages II and III and involve thousands of subjects.
  • Crestmark Provides More Than $109 Million in Commercial Financing to 109 Businesses in the Second Half of September
    October 7, 2020
    Crestmark secured a total of $15,847,400 in ABL financial solutions for ten new clients; Crestmark Equipment Finance provided $20,343,127 in five new lease transactions; Crestmark Vendor Finance provided $6,111,586 in 79 new transactions; the Government Guaranteed Lending
  • Hilco Redevelopment Partners Announces Sponsorship of HACIA U’s Pre-Apprenticeship Program for Little Village Residents
    October 7, 2020
    The sponsorship will provide up to 24 Little Village and Chicago Residents the opportunity to attend the full pre-apprenticeship program tuition free to prepare for a valuable career in the trades.
  • Canadian Solar, KEPCO and Sprott Close US$93 Million Non-Recourse Financing with SMBC for the Tastiota Project in Mexico
    October 7, 2020
    Canadian Solar Inc. (the "Company", or "Canadian Solar") (NASDAQ: CSIQ), announced today the financial close of its 126 MWp Tastiota project in the state of Sonora, Mexico. The non-recourse financing package, arranged by Canadian Solar, was provided by Sumitomo Mitsui Banking Corporation ("SMBC"). SMBC acted as Sole Structuring Bank and Mandated Lead Arranger in the transaction.
  • Kugman Partners Continues to Expand Professional Staff
    October 7, 2020
    Kugman Partners is pleased to announce an addition to our professional staff. Nathan Hoover joined the firm as an associate on September 1st. Nathan Hoover is a corporate advisor and financial analyst with demonstrated success in forming and implementing strategy for organizations experiencing transition, including stress and distress; managing complex sale transactions; and supporting C-suite and management teams with development of sophisticated reporting tools, presentation templates, and financial models.
  • Peapack-Gladstone Bank Hires New Senior Managing Director
    October 7, 2020
    Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC) and Peapack-Gladstone Bank are proud to announce the appointment of Michael J. Mulcahy, Senior Managing Director, Commercial Private Banker (C&I). Michael is responsible for developing and growing a portfolio of commercial clients in the markets the Bank serves. With the fragmentation in the market, he will be able to successfully deliver our full suite of products utilizing our boutique service model and advice-led strategy.
  • Monroe Capital Wins Private Credit Strategy of the Year Award by Pension Bridge Institutional Asset Management Awards
    October 7, 2020
    Monroe Capital LLC (“Monroe”) was selected as the recipient of the 2020 Private Credit Strategy of the Year by the Pension Bridge Institutional Asset Management Awards. The award was presented to the firm’s Monroe Capital Senior Secured Direct Loan Fund at the awards ceremony on September 24, 2020. The Pension Bridge Institutional Asset Management Awards recognize and reward the institutional asset management industry for performance and excellence across various strategies, enabling asset managers to benchmark and prove themselves against their competition.
  • Pathlight Capital Agents $125MM FILO Facility for Neiman Marcus Group
    October 7, 2020
    Pathlight Capital ("Pathlight") announced it is serving as the FILO Agent on the recently funded $125,000,000 FILO Facility for The Neiman Marcus Group ("Neiman Marcus" or the "Company"), one of the largest omni-channel luxury fashion retailers in the world. The FILO Facility was funded upon the Company's successful emergence from Chapter 11 on September 25, 2020. Proceeds from the facility will be used to refinance existing debt and provide liquidity to support the reorganized Company's ongoing operations and strategic initiatives.
  • The Second City, the Iconic Sketch and Improv Comedy Brand, Announces Intention to Sell
    October 7, 2020
    Sale of the legendary comedy empire that helped launch the careers of comedians from John Belushi to Tina Fey to Keegan-Michael Key. Global investment bank Houlihan Lokey will advise on the sale on behalf of The Second City.
  • Citizens Advises BV Investment Partners on Purchase of Two ServiceNow Partners – GlideFast Consulting and Pharicode
    October 7, 2020
    Citizens M&A Advisory served as the exclusive financial advisor to BV Investment Partners ("BV"), a Boston-based private equity firm focused on information and business services and communications industries, on its simultaneous acquisition of two ServiceNow (NYSE: NOW) consulting partners – GlideFast Consulting, a Boston-based commercial partner, and Pharicode, a Huntsville-based government partner.
  • Altacrest Capital Announces the Acquisition of Big Dot of Happiness
    October 7, 2020
    Altacrest Capital LLC (“Altacrest”), a Dallas-based private equity firm that invests in growing eCommerce brands, has acquired a controlling interest in Big Dot of Happiness, a leading online seller of designer party supplies and lifestyle collections. Altacrest Capital financed this transaction in partnership with Route 2 Capital Partners (“R2CP”), Venturi Private Wealth, co-owners Sherri and Scott Yukel, and a group of equity investors. R2CP provided both debt and equity to support the transaction. CrossFirst Bank provided a credit facility in association with the transaction.
  • Stenn Provides Export Invoice Finance Facility to Manufacturer of Speciality Packaging Based in India
    October 7, 2020
    Digital trade finance provider Stenn International today announced the completion of an invoice finance facility for a worldwide leading manufacturer and exporter of speciality packaging materials based in India. The firm’s graphic-grade films, foils and laminates are used in gift wrap, holographic paper, and packaging for premium branded goods.
  • Oasis Petroleum Files Chapter 11, Enters into $450M Debtor-in-Possession Debt Facility
    October 6, 2020
    Oasis Petroleum Inc. entered into a restructuring support agreement with "substantially all of its lenders" under its revolving credit facility and "holders of 52% of the aggregate principal amount of the company's bonds," on what the company termed a "pre-prepackaged" restructuring plan, the company announced on Sept. 30. To implement the RSA, the company further said it filed for Chapter 11 in bankruptcy court in Houston, Texas.
  • Frontier Communications Guides $1.15B of Debtor-in-Possession-to-Exit Notes
    October 6, 2020
    Frontier Communications Corporation has set price talk for a $1.15 billion offering of debtor-in-possession-to-exit senior secured notes at 6.00%-6.25%, sources said. Books for the seven-year (non-call three) paper will close today at 2 p.m. ET, with pricing expected to follow thereafter. Goldman Sachs (left), J.P. Morgan, Deutsche Bank, Barclays, Morgan Stanley and Credit Suisse are bookrunners for the deal. Initial price thoughts circulated in a mid-6% context, according to sources."
  • Blue Bridge Financial Announces Extension of Senior Credit Facility
    October 6, 2020
    Blue Bridge Financial, LLC announces the closing of a one-year extension of its $20 million revolving credit facility with Fifth Third Bank, National Association. “This extension along with the previously announced corporate note extension insures that Blue Bridge will continue to be a key source of capital for small businesses in need of equipment finance.”
  • J. Crew Parent Faces Uncertainty Post-bankruptcy, says S&P Global
    October 6, 2020
    Through its recent bankruptcy process, the J. Crew and Madewell parent company, now named "Chinos Intermediate 2," has significantly trimmed the massive debt load that had undermined the namesake brand's ability to right itself and the healthier but smaller brand's capacity to grow. J. Crew provided about 70% of the company's sales last year, with Madewell, which enjoyed double-digit comps from 2018 to 2019, chipping in more than 20%, thanks to what S&P analysts said is "merchandise that resonates with its millennial customer segmentation," per S&P Global's release.
  • SG Credit Partners Provides $2.5 Million to Enterprise SaaS Provider
    October 6, 2020
    SG Credit provided the Company with a non-dilutive $2.5 million term loan with structured amortization early in the term to free up cash flows and liquidity to fund growth initiatives. This structure allowed the Company to seamlessly buyout the existing shareholder without complicating existing shareholder dynamics.
  • Avianca Holdings S.A. Receives U.S. Court Approval to Access US$2.0 Billion Debtor-In-Possession ("DIP") Financing
    October 6, 2020
    Avianca Holdings S.A. (OTCMKTS: AVHOQ, BVC: PFAVH) (the "Company" or "Avianca") today announced that it has received approval from the U.S. Bankruptcy Court for the Southern District of New York (the "U.S. Court") to access its debtor-in-possession ("DIP") financing totaling just over US$2.0 billion.
  • Portage Point Strengthens Senior Leadership with Private Equity Investment Leader John Laguzza
    October 6, 2020
    Portage Point Partners, LLC (Portage Point), an interim management and business advisory firm that partners with stakeholders during periods of transition, underperformance and distress, announced today that John Laguzza has joined the firm as a Managing Director in New York.
  • Gerald Renews North American Borrowing Base Credit Facility with Oversubscription
    October 6, 2020
    Gerald Group ("Gerald"), the world's largest independent, employee-owned metals trading house, is pleased to announce the renewal of its North American syndicated borrowing base credit facility. Despite global market challenges resulting from the COVID-19 pandemic, Gerald's North American trading hub, GT Commodities LLC ("GTC"), closed its US$ 240 million facility with a significant oversubscription from an initial launch amount of US$ 175 million.
  • Deloitte Future of M&A Trends Survey: Dealmaker Optimism Remains High as Alternatives to Traditional M&A Take Center Stage
    October 6, 2020
    Despite ongoing economic uncertainty amidst a global pandemic, many dealmakers remain optimistic about the outlook for the year ahead as they increasingly pursue alternative merger and acquisition (M&A) methods to navigate the crisis and pursue new disruptive business growth strategies. According to Deloitte's new "Future of M&A Trends Survey" of 1,000 U.S. corporate M&A executives and private equity firm professionals, more than 6 in 10 survey respondents (61%) expect U.S. M&A activity to return to pre-COVID-19 levels within the next 12 months.
  • Generational Capital Markets Advises F3 MFG in its Sale to The Shyft Group
    October 5, 2020
    Generational Capital Markets, Member FINRA/SIPC and a leading mergers and acquisitions advisor for privately held businesses, is pleased to announce the sale of its client, F3 MFG, Inc. to The Shyft Group, Inc. (NASDAQ: SHYF). The acquisition closed October 1, 2020 and details were not disclosed.
  • Imperial Capital Hires Denji Yiu as it Grows Credit Sales
    October 5, 2020
    Imperial Capital, LLC (“Imperial Capital”) announced today the addition of senior high yield professional, Denji Yiu, as the Company continues its growth plans in credit sales and trading. Mr. Yiu is returning to the markets to join Imperial’s credit sales force after he ran High Yield & Distressed Sales at GMP. Mr. Yiu will be based in New York City and will help strategically align Imperial Capital’s high yield and distressed sales professional efforts with the trading needs of its clients.
  • Kosmos Energy Strengthens Liquidity Position With Closing of $200 Million Gulf of Mexico Facility
    October 5, 2020
    Kosmos Energy (NYSE/LSE: KOS) (“Kosmos” or the “Company”) announced today that it has closed a Gulf of Mexico facility with Beal Bank USA and Trafigura Trading LLC (“Trafigura”). Kosmos has restructured its previously announced Gulf of Mexico prepayment facility into a five-year $200 million term-loan facility secured against the Company’s U.S. Gulf of Mexico assets. The $50 million advanced under the prepayment agreement with Trafigura announced in June has been rolled into the new facility, structured by CSG Investments, Inc., with the remaining $150 million provided by Beal Bank.
  • HPS Investment Partners Closes HPS Mezzanine Partners 2019
    October 5, 2020
    HPS Investment Partners, LLC ("HPS" or the "Firm"), a leading global investment firm with $65 billion in assets under management, today announced the closing of its Mezzanine Partners 2019 Fund (the "Fund") with total investable capital of over $11 billion, including approximately $9 billion in equity commitments, which exceeds the Fund's target equity capitalization of $8 billion.
  • Stonebriar Commercial Finance Closes an $11 Million Loan
    October 5, 2020
    Stonebriar Commercial Finance announced the closing of an $11 million loan with a market leading media, technology and content management company engaged in providing hardware and software solutions to the casual and upscale dine-in restaurant industry. The loan proceeds will support ongoing product research and development with incremental liquidity to be used by the borrower for general corporate purposes.
  • Industry Veteran Eric Luukko Joins Second Avenue Capital Partners as Managing Director
    October 5, 2020
    Second Avenue Capital Partners (“SACP”), a lender specializing in asset-based loans for the broader retail and consumer products industry, is pleased to announce Eric Luukko has joined the firm as a Managing Director. Based in the Boston office, Eric’s portfolio will be wide-ranging and include detailed due diligence, collateral oversight, and loan operations for SACP.
  • Fast AR Funding Provides a $150,000 Selective Factoring Facility for Apparel Brand
    October 5, 2020
    When a west coast apparel brand needed a reliable factoring partner to support its ambitious growth for 2020, they aimed their spindle at Fast AR Funding. The apparel brand sought a financial partner that didn’t have any minimums, contracts or set up fees. As retailers reopen at different capacity levels across the country, the apparel brand wanted to freedom and flexibility to submit invoices only when they needed an advance. While the flexibility was required, they additionally wanted to avoid fees for months where they are unable to ship to a retailer. The brand expects to have a strong holiday season with the comfort of having Fast AR funding along for the ride.
  • Axsome Therapeutics Announces $225 Million Term Loan Facility with Hercules Capital
    October 5, 2020
    Axsome Therapeutics, Inc. (NASDAQ: AXSM), a biopharmaceutical company developing novel therapies for the management of central nervous system (CNS) disorders, has secured a $225 million term loan facility with Hercules Capital, Inc. (NYSE: HTGC). The committed capital strengthens the Company’s balance sheet through the anticipated commercial launches of its two lead product candidates, AXS-05 for major depressive disorder (MDD) and AXS-07 for migraine, and extends its cash runway into at least 2024, based on current operating plans.
  • PopReach Closes US$7.5 Million Debt Refinancing Facility
    October 5, 2020
    PopReach Corporation ("PopReach" or the "Company"), a free-to-play mobile game publisher focused on acquiring and optimizing proven game franchises, is pleased to announce that its wholly-owned subsidiary, PopReach Incorporated, has closed the previously announced US$7.5 million senior secured credit facility (the "New Facility") with a leading Canadian Schedule I Bank (the "Lender").
  • Wabash National Announces Closure of Term Loan Facility
    October 5, 2020
    Wabash National Corporation (NYSE: WNC) today announced the closure of a new Term Loan due September 2027. The $150 million facility priced at Libor plus 325 basis points inclusive of a Libor floor of 75 basis points and bears no restrictive financial covenants. The Company intends to use the proceeds of the new loan to pay off its existing $135 million Term Loan due March 2022. Remaining proceeds have been used to pay related issuance costs and expenses as well as repay $10 million of the Company’s high yield notes, which are now its nearest maturity of outstanding debt, due October 2025.
  • FrontWell Capital Partners Announces Formation of Advisory Board
    October 5, 2020
    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 its newly formed Advisory Board, comprising Senior Advisors Matthew Lyness, Uwe Manski and Eric Klein. Mr. Lyness, Mr. Manski and Mr. Klein each brings to FrontWell deep experience across capital markets, restructuring and insolvency and will work closely with FrontWell’s senior leadership and deal origination and underwriting teams.
  • North Mill Capital Provides $4 Million Revolving Line of Credit to Tropical Aquaculture Products, Inc.
    October 5, 2020
    North Mill Capital announced it provided $4 million revolving line of credit to Tropical Aquaculture Products, Inc. Tropical Aquaculture Products, Inc. is an importer and distributor of fresh seafood headquartered in Rutland, VT. The funds were utilized to pay off the current bank credit line and provide additional working capital for the company.
  • A&G Offering Leases for 163 Pizza Hut Sites in 26 States as Part of NPC International’s Chapter 11 Restructuring
    October 5, 2020
    A&G Real Estate Partners today announced that it is now marketing leases for 163 recently closed Pizza Hut sites in 26 states in connection with its role as real estate advisor for multi-concept franchisee NPC International, Inc., which is restructuring under Chapter 11. All bids are due by October 23, 2020. The Melville, NY-based firm also continues to advise NPC on optimizing the real estate portfolio for the more than 1,000 of its Pizza Hut and Wendy’s locations that remain in operation.
  • Tree Line Capital Partners and CVC Credit Partners Back Ingenio
    October 5, 2020
    Tree Line Capital Partners, LLC (“Tree Line”), and CVC Credit Partners (“CVC Credit”) provided an increase to their existing term loan to $127,300,000 to Ingenio to support an add-on acquisition. Tree Line served as Administrative Agent and Lead Arranger on the transaction.
  • HomeStreet Bank Appoints David Parr as Executive Vice President and Director of Commercial Banking
    October 5, 2020
    HomeStreet Bank (the “Bank”), the subsidiary bank of HomeStreet, Inc. (Nasdaq: HMST) (“HomeStreet” and together with the Bank, the “Company”), today announced the appointment of David Parr as Executive Vice President and Director of Commercial Banking. In this role, David will be responsible for the commercial lending business across the Bank’s presence in Washington, Oregon, California and Hawaii.
  • Sallyport Commercial Finance Helps Canadian Beauty Supply Company with a $4,000,000 Credit Facility
    October 5, 2020
    Sallyport Commercial Finance helps a well-known make-up and cosmetic brand with a $4,000,000 accounts receivable facility securing their future with ongoing sustainable financing. The company is now positioned for positive growth as they expand into new markets overseas.
  • Churchill Hires Kelli Marti as CLO Portfolio Manager
    October 5, 2020
    Churchill Asset Management LLC (“Churchill”), an investment-specialist affiliate of Nuveen providing customized financing solutions to private equity firms and their portfolio companies, has hired Kelli Marti as Managing Director and CLO Portfolio Manager, effective October 1, 2020.
  • Monticello Provides $2M in Working Capital for 338-Bed Skilled Nursing Portfolio in Montana
    October 1, 2020
    Monticello’s asset-based lending group, Monticello Commercial Capital LLC, provided the financing. No further details were disclosed.
  • Lower-for-Longer Rates Should Fuel Flows for Alt-IMs
    October 1, 2020
    Alternative investment managers (Alt-IMs) are seeing various unexpected benefits as a result of the economic fallout of the coronavirus pandemic, with the outlook for interest rates in most major economies remaining low through 2023 expected to fuel inflows, Fitch Ratings says. Lower rates should continue to benefit Alt-IMs as investors seek to deploy capital into potentially higher-yielding private asset classes, while partnerships with insurance companies may become even more compelling. Other tailwinds for Alt-IMs in the face of the pandemic include longer periods of base fee generation, as the pace of realizations slow.
  • TAB Bank Provides Traffic Control Company in California with a $10 Million Revolving Credit Facility
    October 1, 2020
    TAB Bank is pleased to announce it has provided a $10 million asset-based revolving credit facility for a traffic control company based in California. The new facility is extended through a multi-year agreement and will provide for the ongoing working capital needs for the company.
  • Mastech Digital Acquires AmberLeaf, Enters Into a Revised Credit Facility with PNC Bank
    October 1, 2020
    Concurrent with the acquisition, the Company entered into a revised credit facility with PNC Bank which increased its term loan facility by approximately $10 million to $17.5 million and increased its revolving loan facility to $30 million, an increase of $7.5 million from the previous credit line of $22.5 million.
  • Oxford Finance Provides $74 Million Credit Facility to Specialty Dental Brands
    October 1, 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 $74 million senior credit facility and revolving line of credit to Specialty Dental Brands ("SDB" or "the Company"), a dental services organization focused on pediatric dentistry, orthodontics, and oral surgery.
  • CohnReznick Adds Industry Veteran David Weinstein to Lead Workout and Restructuring Services in the Southeast and Expand Firm’s Presence in Florida
    October 1, 2020
    CohnReznick LLP, one of the leading advisory, assurance, and tax firms in the United States, today announced the addition of David Weinstein to its Restructuring & Dispute Resolution practice. Weinstein joining the team, which follows the addition of eight turnaround and restructuring veterans last year, will expand senior resources for debtor and lender workouts and restructuring both in and out of court. Based in Florida, his hire also expands the firm’s local presence to better service clients in this region.
  • StreetTrend LLC Acquires 100% of the European Fashion Sneaker Brand P448 SpA
    October 1, 2020
    StreetTrend LLC announced that it has acquired the European based sneaker brand P448 from NoThanks SpA, headquartered in Forli, Italy. The new consolidated entity will be called P448 SpA and will become part of the StreetTrend portfolio of footwear and fashion brands. StreetTrend LLC is a fashion footwear and street wear brand portfolio holding company under the leadership of Wayne Kulkin, former CEO of Stuart Weitzman. The company was formed in 2017 as a JV partnership with Jeffrey Hecktman, CEO of the international investment and financial services company Hilco Global.
  • CIT Serves as Sole Lead Arranger on $70 Million Maritime Financing
    October 1, 2020
    CIT Group Inc. (NYSE: CIT) today announced that its Maritime Finance business served as sole lead arranger on a $70 million senior secured financing on behalf of International Container Company Holdings Limited. The loan is secured by three large container vessels operated by Maersk A/S, a direct subsidiary of AP Moller Maersk, which owns and operates more than 700 container vessels worldwide.
  • White Oak Global Advisors Partners with Sustainability Accounting Standards Board
    September 30, 2020
    White Oak Global Advisors, LLC (“White Oak” or “the Firm”) today announced it has entered a formal partnership with the Sustainability Accounting Standards Board (“SASB”), a global nonprofit founded to help businesses around the world identify, manage and report on a wide range of sustainability issues. This partnership will enable White Oak to incorporate SASB’s standards into its ESG research and underwriting processes for prospective credit issuance.
  • Sterling National Bank Provides $7 Million of Secured Credit Facilities to a National Staffing Firm
    September 30, 2020
    The credit facilities will provide working capital to further expand and support the Company’s future projected growth.
  • Encina Business Credit Provides $72.5 Million Facility to Manufacturer and Distributor of Residential & Commercial HVAC Products
    September 30, 2020
    Encina Business Credit, LLC announced today that it has provided a $72.5 million senior secured credit facility to a leading manufacturer and distributor of heating, ventilating and cooling products used in both residential and commercial applications.
  • Alvarez & Marsal Enhances Healthcare Technology Advisory and Transformation Services
    September 30, 2020
    Leading global professional services firm Alvarez & Marsal’s (A&M) Healthcare Industry Group has expanded its Technology Advisory and Transformation services with the addition of Ian Donner and Avishek Nandi as Senior Directors in New York. This expanded capability is in response to clients’ increasing need for specialized technology advisory and strategic transformation services amidst complex healthcare challenges.
  • Metropolitan Commercial Bank Hires Senior Healthcare Lender
    September 30, 2020
    Metropolitan Commercial Bank today announced that Danny Tommasino joined the Bank as First Vice President, Senior Healthcare Lender. He will report to Luke J. Kaufman, First Vice President, Head of Commercial Lending. Mr. Tommasino brings 19 years of banking experience to Metropolitan Commercial Bank and has focused exclusively on the healthcare sector for the last ten years. He was recently Senior Vice President, Healthcare Practice Leader at BankUnited’s middle-market healthcare business.
  • Tradewind Finance Provides $2 Million Export Factoring Facility to Manufacturer of East Mediterranean Food based in Lebanon
    September 30, 2020
    Tradewind Finance has announced the completion of a $2 million post-shipment finance facility for a manufacturer and exporter of East Mediterranean food based in Lebanon. The company sells beans, vegetarian dips, jams, and olive oil, among other items, and exports to the USA, Canada, the UK, Europe, and the Middle East. The funding is being used to support the company’s growth and expand their production plant.
  • Wingspire Capital Supplies $30 Million Senior Secured Financing to Leading After-Market Auto Parts Distributor
    September 30, 2020
    Wingspire Capital Holdings (“Wingspire”) is pleased to announce the funding of a $30 million senior secured working capital revolver to a leading distributor in after-market auto parts, consumer electronics and personal protective equipment. The borrower will use the funding to accelerate a turnaround plan that includes reducing expenses, eliminating slow-moving excess inventory and pursuing new customers with sought-after PPE products such as masks and thermometers.
  • Celtic Capital Corporation Announces New Client Relationship
    September 30, 2020
    Celtic Capital Corporation today announced its most recent new client relationship – a Kentucky-based wholesaler of industrial supplies, steel, fasteners and bearings. This 100+ year-old company has been family-owned and operated for many years and had recently fallen out of covenant with its bank line.
  • Stonebriar Commercial Finance Promotes Bell and Fate
    September 30, 2020
    Stonebriar Commercial Finance is pleased to announce the promotion of Travis Bell to Managing Director of Originations. Mr. Bell joined Stonebriar in 2017 as part of SCF’ Real Estate platform acquisition. Travis has a demonstrable track record of success growing Stonebriar’s Real Estate platform and developing relationships across the industry. With his promotion, Travis will expand his focus to include Stonebriar’s General Equipment platform.
  • Bouchard Transportation Co., Inc. To Restructure Through Chapter 11 Proceeding
    September 29, 2020
    Bouchard Transportation Co., Inc. (privately held) ("Bouchard" or the "Company"), the nation's largest independently-owned ocean-going petroleum barge company, today announced that it and certain of its subsidiaries have filed voluntary petitions to restructure under chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas (the "Bankruptcy Court").
  • Crestmark Welcomes Mark Collins as Business Development Officer
    September 29, 2020
    Crestmark is pleased to announce the appointment of Mark Collins as business development officer for Crestmark’s Business Credit group. Based in South Carolina, he will report to Senior Vice President, Business Credit Sales Manager James Farrell, and will provide asset-based lending, factoring, and other Crestmark products to businesses nationwide.
  • CIT Launches New Commercial Online Banking Platform for Community Association Banking Customers Features a Full Suite of Digital Solutions for Greater Efficiency and Agility
    September 29, 2020
    CIT Group Inc. (NYSE: CIT) today announced the launch of a new commercial online banking platform, designed to maximize efficiency and agility for Community Association Banking customers. With new and enhanced features, the platform offers a robust suite of digital tools.
  • Crystal Agents $45.0MM Senior Credit Facility for Roadrunner Freight
    September 29, 2020
    Roadrunner Freight is a leading less-than-truckload (“LTL”) transportation provider. The Company services a diverse customer base across many industries including retail, industrial, food & beverage and health care with its differentiated point-to-point LTL model. The Crystal financing facilitated the final step of a multi-year corporate transformation to simplify Roadrunner’s business operations. The revolver, term loan and delayed draw term loan will be used for working capital and growth.
  • Tiger Selling Surplus Professional Gear from Keslow Camera
    September 29, 2020
    Tiger Group is now selling a selective offering of professional gear surplus to the continuing operations of Keslow Camera, a leading motion picture film and digital cinema camera rental company. Gear available for sale includes digital cameras from Red, Panasonic, Sony, and Canon; and lenses from Angenieux, Cooke, Baltar, Canon, and Nikkor; as well as heads, monitors, wireless units, magazines, tripods and other accessories from leading manufacturers.
  • Secured Finance Network (SFNet) Announces New 2021 Leadership Committees ​
    September 29, 2020
    Elected by SFNet Board of Directors, Executive and Management Committees provide direction, advocacy and thought leadership for secured finance industry.
  • White Oak Healthcare Finance Provides Financing for National Partners in Healthcare
    September 29, 2020
    White Oak Healthcare Finance, LLC (“White Oak”) today announced it acted as sole lender and administrative agent on the funding of a senior credit facility to finance growth for National Partners in Healthcare, LLC (“NPH”). “NPH is a market leading anesthesia business with an impressive track record of growth,” said Ross Eldridge, White Oak’s EVP and Chief Originations Officer. “We are excited to partner with a company that provides such a high level of care and focus on the patient experience.”
  • Concord Financial Advisors Serves As Exclusive Financial Advisor For The O’Gara Group
    September 29, 2020
    Concord Financial Advisors announced it has served as the exclusive financial advisor for The O’Gara Group based in Fairfield, OH and arranges $21 million in senior debt. The senior secured revolving line of credit financing was provided By UMB Capital Finance and will be used to refinance existing debt & support working capital.
  • Stifel Expands Capital Solutions Group In Europe
    September 28, 2020
    Stifel Financial Corp. (NYSE: SF) today announced it has materially enhanced the depth and quality of its London-based Capital Solutions Group through the addition of a team of bankers with experience across credit markets. This further develops the firm’s ability to offer full-service advisory and debt funding solutions to clients. Based in London, Jan-Erik Back, Duncan Sherriffs, and Alex Boyce have all joined Stifel, bringing with them the advisory business of Galiant Partners. Together, they have more than 50 years of combined experience as investors, advisors, and lenders.
  • Amid Pandemic, Small Business Owners Respond With Meaningful Transformation; Remain Resilient, PNC Survey Shows
    September 28, 2020
    - Substantial number of business owners make transformations to workforce, business processes, procedures and technology - While 97% of applicants call PPP essential to their business, more than half of all businesses say more government stimulus funding is needed - Despite dip since spring, optimism about the economy remains higher than during the Great Recession
  • BGL Establishes Debt Capital Markets Group, Expands Product Offerings
    September 28, 2020
    Brown Gibbons Lang & Company (BGL), a leading independent investment bank and financial advisory firm, has established a Debt Capital Markets Group with the addition of Jason Sutherland, Olivier Lopez, and Collin Supple. Sutherland and Lopez have joined as Managing Directors, and Supple has joined as a Vice President; all three bankers will be based in BGL's Chicago office.
  • Vista Outdoor Named Successful Bidder in Bankruptcy Auction To Acquire Remington Ammunition and Accessories Assets
    September 28, 2020
    Vista Outdoor Inc. (NYSE: VSTO), a global designer, manufacturer and marketer of products in the outdoor sports and recreation markets, today announced that it has been named a successful bidder in the auction process conducted in connection with Remington Outdoor Company, Inc.'s ("ROC's") Chapter 11 bankruptcy cases pending in the United States Bankruptcy Court for the Northern District of Alabama. As a result, Vista Outdoor will acquire certain assets related to ROC's ammunition and accessories businesses, including ROC's ammunition manufacturing facility in Lonoke, Arkansas and related intellectual property, including the Remington brand and trademarks.
  • Ares Management Names Former Credit Suisse Exec as Australian Head
    September 28, 2020
    Private equity firm Ares Management Corp. ARES.N on Monday named John Knox, the former head of Credit Suisse CSGN.S in Australia, as Chairman of its operations in the antipodean country and in New Zealand, the firm said in a statement.
  • Fast AR Funding Provides a $200k Selective Factoring Facility for Healthcare Staffing Company
    September 28, 2020
    When a UK-headquartered temporary healthcare staffing provider decided to open operations in the US, they tasked Fast AR Funding to keep up with demand. Shortly after setting up in the US, the domestic growth quickly outpaced expectations and the company found themselves with a cashflow gap to keep up with their growing payroll. The UK parent turned to Fast AR Funding to enable its US operations to become self-sufficient as they planned to expand in other countries as well. Fast AR Funding provided a $200,000 spot factoring solution with a high advance rate to support their growing payroll needs in 2020 and beyond.
  • Enservco Closes Agreement with Lender to Amend its Senior Revolving Credit Facility, Substantially Reduce Debt and Strengthen its Balance Sheet
    September 28, 2020
    Enservco Corporation (NYSE American: ENSV), a diversified national provider of specialized well-site services to the domestic onshore conventional and unconventional oil and gas industries, today announced it has closed its refinancing agreement with East West Bank (“EWB”). The refinancing significantly strengthens Enservco’s balance sheet by cutting its bank debt nearly in half and increasing shareholders’ equity by approximately $17.5 million.
  • Medalist Partners Provides $40 Million Credit Facility to Ironwood Funding
    September 28, 2020
    Ironwood Funding, a leading operator in underwriting and financing the purchase of non-performing consumer loans, today announced it has secured an additional $40 million credit facility from funds and co-investment vehicles managed by Medalist Partners, a private credit and special opportunities investment manager based in New York.
  • Neiman Marcus Group Completes Chapter 11 Process; Emerges with Strengthened Capital Structure
    September 28, 2020
    Neiman Marcus Holding Company, Inc. (formerly the "Neiman Marcus Group LTD LLC") (the "Company") today announced it has emerged from voluntary Chapter 11 protection, successfully completing its restructuring process and implementing the Plan of Reorganization ("Plan") that was confirmed by the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division on September 4, 2020. The Company emerges with the full support of its creditors and new equity shareholders, now operating with a strengthened capital structure that eliminated more than $4 billion of existing debt and more than $200 million of cash interest expense annually, with no near-term maturities.
  • Dye & Durham Limited Announces New Credit Facility
    September 28, 2020
    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, announced today that it entered into a new credit agreement (the "Credit Agreement") that provides for a C$140.0 million revolving term loan facility with an additional uncommitted accordion of up to C$25.0 million, for an aggregate total availability of up to C$165.0 million.
  • Steve N. Economou Joins G-Squared Partners to Launch Investment Banking Practice
    September 28, 2020
    G-Squared Partners, LLC announced today that Steve Economou has joined the firm as a Managing Director, M&A to establish an investment banking practice. The new practice – a natural extension of G-Squared’s outsourced CFO, finance, and accounting work – is dedicated to offering skilled investment banking services to middle market companies that are often underserved by national investment banking practices. The effort will focus on M&A advisory services, capital raising, recapitalizations, and evaluating strategic alternatives for these businesses.
  • US Corporate Pandemic Recovery Assumptions Mostly Steady Post 2Q20
    September 28, 2020
    Widespread upward revisions of US corporate sector-level post-lockdown recovery assumptions that would lead to mass rating actions post-2Q20 results are unlikely, given the cautious outlook on the pace of economic activity and sector fundamentals, says Fitch Ratings. Second-quarter results were indicative of the pandemic’s negative financial effect on issuers but surprised on the upside for some sectors, including Homebuilding, Building Materials, Auto & Related and pockets of Retailing. Results for most sectors, however, were relatively in line with Fitch’s expectations.
  • Paladin Strengthens Leadership Team With Top Restructuring And Corporate Finance Experts Lance Miller And Peter Richter
    September 28, 2020
    Paladin, a leading middle-market advisory firm driving value-creation through financial and operational consulting services, announced today that industry leaders, Lance Miller and Peter Richter, have joined the firm as Partners. Combining decades of experience, both Lance and Peter have guided numerous organizations through operational and financial restructurings that have resulted in improved profitability and increased stakeholder value.
  • QuadPay Secures Revolving Line of Credit of Up to $200 Million from Goldman Sachs, Oaktree Capital
    September 28, 2020
    QuadPay, which will use the facility to expand its buy now, pay later business to new merchants across the US, secured the line of credit through the Finitive private credit platform
  • Citizens Capital Markets, Inc. Advises Liberty Steel, Inc. on its divestiture of Welded Tubes, Inc. to Lock Joint Tube LLC, a subsidiary of Steel Warehouse Company, LLC
    September 28, 2020
    Citizens Capital Markets, Inc. announced today that it served as financial advisor to Liberty Steel Products, Inc. in its divestiture of Welded Tubes, Inc. (“WTI”) to Lock Joint Tube LLC, a subsidiary of Steel Warehouse Company, LLC. WTI’s President, Joe Frandanisa, the management team and the workforce will remain in place at WTI’s factory in Orwell, Ohio.
  • Lowenstein Sandler Boosts New York Bankruptcy Offering
    September 24, 2020
    The New York bankruptcy, financial reorganisation and creditors’ rights division at Lowenstein Sandler has welcomed new senior legal counsel Brent Weisenberg. Brent Weisenberg brings in-house legal experience gained during three years in his most recent position as general counsel at Platinum Credit Management.
  • Veteran Vinson & Elkins Restructuring Partner Relocates to Houston
    September 24, 2020
    Vinson & Elkins LLP announced today that Paul E. Heath, an accomplished partner in the firm's Restructuring and Reorganization practice group, has relocated from Dallas to Houston.
  • Women's Retailer J. Jill Has 10 Days to Avoid Bankruptcy Filing
    September 24, 2020
    J. Jill Inc. has just 10 days to get permission from the vast majority of its lenders for a deal that would extend the struggling retailer’s debt maturities, excuse it from financial covenants and give it fresh cash. The company said in a statement Tuesday that it plans to file for bankruptcy if it fails to get lenders holding 95 per cent of its term loans on board with the plan by Sept. 11. It’s struck a deal with lenders holding 70 per cent of the debt to extend certain debt maturities to 2024, grant a financial covenant holiday and provide for at least US$15 million of new cash in the form of a junior term loan.
  • Rockland Trust Supports Brighton Marine's Veteran Affordable Housing Facility
    September 24, 2020
    Brighton Marine, a Veteran network community in Brighton, announced the official opening of a facility. The City of Boston is committed to connecting Boston's military families with the resources and assistance they are entitled to. In 2015, Mayor Walsh released "An Action Plan to End Veteran and Chronic Homelessness In Boston: 2015 - 2018", which outlines the City's strategies to transform Boston's homeless response system in order to end veterans homelessness by 2015 and chronic homelessness by 2018. Since the start of the plan the City has housed more than 1,291 veterans experiencing homelessness.
  • Winston & Strawn Strengthens Bankruptcy and Restructuring Capabilities with Addition of James T. Bentley
    September 24, 2020
    Winston & Strawn LLP is pleased to announce the addition of James T. Bentley, an experienced and respected bankruptcy and restructuring attorney, as a partner in the firm’s New York office. James has considerable experience in corporate restructurings, representing numerous constituencies in bankruptcy and out-of-court workouts. He has represented hedge funds, private equity funds, alternative asset managers, trustees, and other stakeholders in every aspect of the restructuring process. James has experience across a broad range of industry sectors, including retail, automotive, energy, healthcare, restaurants, radio and television, real estate, and securities.
  • WeedMD Enters into Binding Term Sheet for $30 Million Credit Facility with LiUNA Pension Fund and Changes Filing Date of Second Quarter 2020 Financials to September 30, 2020
    September 24, 2020
    WeedMD Inc. (TSX-V:WMD) (OTCQX:WDDMF) (FSE:4WE) (“WeedMD” or the “Company”), a federally-licensed producer and distributor of cannabis, is pleased to announce that it has entered into a binding term sheet for a credit facility (“Credit Facility”) with an affiliate of the LiUNA Pension Fund of Central and Eastern Canada (“LPF”). The $30 million Credit Facility, maturing in August 2022, will be used for general working capital purposes, capital expenditures and general corporate requirements, and will provide the Company with significant financial capacity to drive commercial initiatives during its next stage of growth.
  • Directed Capital Raises $92 Million for Distressed Debt Fund, Receives Combined $100 Million in Credit Facilities From Goldman Sachs, Pacific Western Bank, Valley Bank
    September 24, 2020
    Directed Capital, a national opportunistic real estate finance firm that acquires and strategically repositions commercial mortgage loans, today announced it has closed its tenth flagship fund, raising $92 million in equity commitments that will be deployed to purchase commercial real estate debt. The firm will seek to acquire more than $500 million in commercial mortgage loans, then work to successfully resolve the assets, creating value for the partnership, while also providing borrowers with the flexibility to work out their debt, and in many cases help to continue their business operations.
  • Justice Commences Store Closing Sales in 23 Additional Locations
    September 24, 2020
    SB360 Capital Partners, one of North America’s leading asset disposition specialists, announced that it commenced store closing sales in an additional 23 Justice stores located in 13 states. Justice is a destination store for tween girls and the store closing sales in the 23 Justice stores will feature great deals on all products. Justice customers can expect initial discounts of up to 50% off the original price on a full selection of clothing, shoes, accessories, toys, and more.
  • Republic Provides a $2.75 Million Ledgered Line of Credit for a Food Manufacturing Company
    September 24, 2020
    Republic approved a scalable and non-dilutive growth orientated facility that provided availability on their account receivables. The natural food ingredient manufacturing company was looking to accelerate their growth across their products lines. Republic is a proud supporter of the natural food trade shows, including its regional associations.
  • Heritage Global Inc. Announces Executive Promotions
    September 23, 2020
    Heritage Global Inc. (NASDAQ: HGBL) (“Heritage Global,” “HGI” or “the Company”), an asset services company specializing in financial and industrial assets, today announced key senior executive promotions in the Company’s Financial Assets and Industrial Assets divisions.
  • Walmart Teams up with Goldman Sachs to Offer Online Sellers Business Credit Lines
    September 23, 2020
    Beginning on Tuesday, small and medium-sized businesses that sell on the retail giant’s Marketplace will see invites to apply for business lines of credit offered by Marcus, Goldman’s online consumer banking unit. It’s part of a new partnership between the big-box retailer and the Wall Street giant.
  • TAB Bank Provides Trucking Company in Florida with a $2.5 Million Revolving Credit Facility
    September 23, 2020
    TAB Bank is pleased to announce it has provided a $2.5 million asset-based revolving credit facility for manufacturing trucking based in Florida. The new facility is extended through a multi-year agreement and will provide for the ongoing working capital needs for the company.
  • Stonebriar Commercial Finance Closes a $30 Million Lease
    September 23, 2020
    Stonebriar Commercial Finance announced the closing of a $30 million sale and leaseback with an industry leading producer and marketer of agricultural, mining and industrial chemicals. The lease proceeds, based on an in-place and in-continued-use fair market valuation, supported the retirement of prior indebtedness and created incremental liquidity to be used by the lessee for general corporate purposes. This closing represents the third capital commitment by Stonebriar to the lessee.
  • Theresa Driscoll, Esq. & Julia Gavrilov, Esq. Named Top Women In Commercial Finance Industry
    September 23, 2020
    The Secured Finance Network (SFNet) named Theresa Driscoll and Julia Gavrilov, attorneys at Moritt Hock & Hamroff (MH&H), to its Top Women In Commercial Finance List for 2020 in recognition of their outstanding achievements and leadership in the commercial finance industry.
  • SG Credit Partners Provides $2.5 Million to Fraud Protection Network
    September 23, 2020
    Southeast-based consumer credit and identity solutions software-as-a-service provider, majority owned by founder & CEO Ed Margolin. Visit Fraud Protection Network's website to learn more.
  • Tradewind Finance Celebrates 20th Anniversary
    September 23, 2020
    This year marks the 20th anniversary of Tradewind Finance, whose financial services have supported small and medium-sized businesses globally for two decades. It has been an honor for the company to work with their clients across industries as their trusted financial partner. In addition to a solid foundation of years in operation, the milestone signifies the company’s growth – in offices, business relationships, and capabilities.
  • Timbercreek Financial Exercises Accordion Feature of its Revolving Credit Facility and Announces Redemption of 5.40% Convertible Unsecured Debentures
    September 22, 2020
    Timbercreek Financial Corp. (TSX: TF) (“Timbercreek Financial” or the “Company”) is pleased to announce that it has entered into an amendment to its existing revolving credit facility (“Credit Facility”) in order to, among other things, exercise a portion of the accordion feature of the Credit Facility. The exercise of the accordion feature has increased the total revolving commitment of the lenders under the Credit Facility by $35,000,000, bringing the aggregate limit under the Credit Facility to $535,000,000. General terms of the Credit Facility remain unchanged.
  • CIT Provides $20 Million Credit Facility for Protech Home Medical
    September 22, 2020
    CIT Group Inc. (NYSE: CIT) today announced that its Healthcare Finance group, part of the company's Commercial Finance division, provided a $20 million senior secured credit facility for Protech Home Medical Corp. (TSXV: PTQ) (OTCQX: PTQQF), a leader in the home medical equipment industry focused on end-to-end respiratory care. Based in Cincinnati, Ohio, Protech Home Medical provides clients with a broad range of in-home monitoring and disease management services, including end-to-end respiratory solutions for patients in the United States healthcare market.
  • Katten's Busy Bankruptcy Practice Continues to Draw Top Talent
    September 22, 2020
    Katten announced today that the firm has added a new partner, Michaela Crocker, to its Insolvency and Restructuring practice in Dallas. She is the tenth attorney to join the practice this year and the third this month. Crocker, who helps clients navigate some of the most complex Chapter 11 cases, also is the latest partner addition to Katten's Dallas office, which opened in 2018 with seven partners and has since expanded to more than 40 attorneys.
  • TAB Bank Provides Trucking Company in Florida with a $2.5 Million Revolving Credit Facility
    September 22, 2020
    TAB Bank is pleased to announce it has provided a $2.5 million asset-based revolving credit facility for manufacturing trucking based in Florida. The new facility is extended through a multi-year agreement and will provide for the ongoing working capital needs for the company.
  • Alvarez & Marsal Taxand Bolsters M&A Tax Capabilities for Energy Industry
    September 22, 2020
    Alvarez & Marsal Taxand, LLC (A&M Taxand), an affiliate of leading global professional services firm Alvarez & Marsal (A&M), strengthened its energy-focused mergers and acquisitions (M&A) tax advisory services with the appointment of Houston-based Kyle Seipert as a Managing Director. This appointment further enhances A&M’s robust offerings to the oil and gas industry and reflects the firm’s commitment to help energy company clients navigate challenges and maximize value as the industry undergoes major transformation.
  • Hedaya Capital Group Completes a $1,000,000 Factoring Facility for an Outdoor Apparel Company
    September 22, 2020
    The Hedaya Capital Group, Inc. is pleased to announce a $1,000,000 factoring facility for a family-owned outdoor apparel company. Inspired by nature's playground, the company introduces innovative clothing and gear to outdoorsmen and hunters. We acquired them from another factor, we were able to provide a more flexible financing solution to meet their needs.
  • Ascena retail group Achieves Important Milestones in Restructuring Process
    September 21, 2020
    Court Approves Disclosure Statement and Debtor-in-Possession Financing on Final Basis; Debtor-in-Possession Financing to Convert to Exit Financing Upon Emergence Company to Begin Solicitation of Votes for Plan of Reorganization; Amended RSA Supported by Approximately 95% of Secured Term Lenders FullBeauty Wins Auction to Acquire Catherines’ E-Commerce Business for Over $40 Million Well-Positioned to Execute Customer-Centric Retail and E-Commerce Business Model ascena retail group, inc. (OTCMKTS: ASNAQ) and certain of its subsidiaries (collectively, “ascena” or the “Company”) today announced recent milestones achieved in the Company’s Court-supervised restructuring process.
  • River City Bank Continues its North Bay Expansion With Former Heritage Bank of Commerce SVP Seth Shorett
    September 21, 2020
    Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC) and Peapack-Gladstone Bank are proud to announce the appointment of Elisa DePalma, Senior Vice President, Head of Commercial Closing, Credit Risk Management. Working out of the Bank’s Teaneck location, Elisa oversees management of the Commercial Closing Department. Ms. DePalma is a demonstrated leader and team player and will reinforce and expand positive working relationships across the Bank.
  • Peapack-Gladstone Bank Hires New Senior Vice President
    September 21, 2020
    Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC) and Peapack-Gladstone Bank are proud to announce the appointment of Elisa DePalma, Senior Vice President, Head of Commercial Closing, Credit Risk Management. Working out of the Bank’s Teaneck location, Elisa oversees management of the Commercial Closing Department. Ms. DePalma is a demonstrated leader and team player and will reinforce and expand positive working relationships across the Bank.
  • Tiger Finance Provides Nu-Steel Trade With $10 Mil. in Growth Capital
    September 21, 2020
    Tiger Finance, a wholly owned affiliate of Tiger Capital Group, today announced that it has closed on a $10 million delay draw term loan to Nu-Steel Trade that provides working capital for growth and acquisition opportunities.
  • Stonebriar Commercial Finance Welcomes Dylan Glenn to its Board
    September 21, 2020
    Stonebriar Commercial Finance (“Stonebriar”) is pleased to announce that Dylan Glenn has joined its Board of Managers as an independent board member. Dylan currently serves as a director of Intellicheck, Inc. (IDN), a leading provider of authentication services for companies primarily in area of financial services, and a Russell 3000 company listed on NASDAQ.
  • Republic Provides a $1.5 Million Traditional Factoring Facility for a Los Angeles-based Apparel Importer
    September 21, 2020
    When a Los Angeles apparel manufacturing and import company sought funding for their 2020 Fall and Winter orders, they chose Republic Business Credit to fuel their growth. Republic approved a scalable traditional facility to support their expected growth in anticipation of the orders they have received for additional reopening of retail stores. Republic fully approved the customer limits necessary to enable the company to fulfill large purchase orders in the midst of Covid-19.
  • Denbury Successfully Completes Financial Restructuring
    September 21, 2020
    Denbury Inc. (NYSE: DEN) ("Denbury" or the "Company") today announced that it has successfully completed its financial restructuring and emerged from Chapter 11. Denbury's common stock is expected to commence trading on the New York Stock Exchange under the ticker symbol DEN at market open Monday, September 21, 2020. Kirkland & Ellis LLP is acting as legal counsel to Denbury, Evercore Inc. is acting as financial advisor and Alvarez & Marsal is serving as restructuring advisor.
  • Stellus Capital Investment Corporation Amends and Extends Its Revolving Credit Facility
    September 21, 2020
    Stellus Capital Investment Corporation (the "Company") (NYSE: SCM) announced today that on September 18, 2020 it entered into an amendment and extension of its $230 million Senior Secured Revolving Credit Agreement (the "Facility"). The Company extended the commitment termination date of the Facility to September 18, 2024 with a final maturity of September 18, 2025, and amended certain covenants and conditions of the Facility, including a reduction in the required asset coverage. The Facility was led by Zions Bancorporation, N.A. dba Amegy Bank, and includes a total of 10 bank participants. Pricing and advance rates remain unchanged on the Facility, except for the addition of a LIBOR floor of 0.25%.
  • Tallinn Energy Provides $2.2 Million Senior Credit Facility to Calgary-based Junior Energy Company
    September 21, 2020
    Tallinn Capital Energy Corp. (“Tallinn”) is pleased to announce that it has provided a $2.2MM senior term loan to 2273271 Alberta Ltd. (“227AB”) for acquisition financing. 227AB is a junior oil and natural gas producer with operated facilities and assets in the greater Pembina area of west central Alberta.
  • Iron Horse Credit Provides $1MM Stand-Alone Inventory Facility to an E-Commerce Retailer and Wholesaler of Sports Eyewear and Accessory Products
    September 21, 2020
    Iron Horse Credit is excited to partner with a well-known brand in the sports accessories industry selling in the U.S. and Canada. Due to the current market conditions and their impact in the retail space, the company shifted its focus to its e-commerce business. The incumbent asset-based lender reduced the line of credit as the company’s inventory exposure exceeded its accounts receivable balance. Through a referral, Iron Horse Credit partnered with a trusted accounts receivable lender to provide the company with the working capital solution it needed without any AR-to-inventory restrictions.
  • PopReach Signs Binding Agreement for US$7.5 Million Debt Refinancing Facility With a Leading Canadian Schedule I Bank
    September 21, 2020
    PopReach Corporation ("PopReach" or the "Company"), a free-to-play mobile game publisher focused on acquiring and optimizing proven game franchises, today announced that its wholly-owned subsidiary, PopReach Incorporated, has signed a binding agreement for a US$7.5 million senior secured credit facility (the "New Facility") with a leading Canadian Schedule I Bank (the "Lender"). The New Facility, secured through the Lender's Technology and Innovation Banking group, is intended to refinance PopReach's previous credit facility, of which US$6.6 million is currently outstanding, and also provides PopReach with a US$1.0 million revolving term credit facility.
  • Rosenthal Closes $2M Production Finance Deal w/Toy Company
    September 21, 2020
    Rosenthal & Rosenthal, Inc., the leading independent factoring, asset-based lending and purchase order financing firm in the United States, today announced the completion of a recent $2 million purchase order finance facility for a California-based toy company. A former client of Rosenthal’s had secured a bank line a few years ago when it no longer required purchase order financing to support its production financing requirements. However, COVID-19 challenges coupled with a restructuring of their business, gave way to bank-imposed covenants and restrictions that threatened to impede their holiday and 2021 sales. Concerned that these restrictions would make it difficult to achieve sales targets for Q4 and into next year, the company returned to Rosenthal.
  • Main Street Lender Portal Includes the Additional Functionality to Support Multi-borrower Loan Structures
    September 21, 2020
    As of Monday, September 21, the Main Street lender portal includes the additional functionality to support multi-borrower loan structures, meaning the program now permits the submission of multi-borrower loans – loans made to multiple co-borrowers.
  • KPS Capital Partners Agrees To Acquire Substantially All Of The Assets Of Garrett Motion Inc.
    September 21, 2020
    KPS Capital Partners, LP ("KPS") announced today that, through a newly formed affiliate, it has entered into a stock and asset purchase agreement with Garrett Motion Inc. (NYSE: GTX) ("Garrett" or the "Company"), under which KPS will acquire substantially all of the assets of Garrett for approximately $2.1 billion.
  • Encina Business Credit, LLC Provides $50 Million Revolving Credit Facility to News Publishing Company
    September 21, 2020
    Encina Business Credit, LLC (EBC) announced today that it has provided a $50 million senior secured credit facility to a news publishing company. The facility consists of a senior secured revolving line of credit based on accounts receivable and inventory. Loan proceeds will be used to support a purchase of the company following a period of bankruptcy.
  • Sallyport Commercial Finance Funds a Canadian Wholesaler with a $1,000,000 Accounts Receivable Line of Credit
    September 21, 2020
    Sallyport Commercial finance offered a $1,000,000 accounts receivable facility to a well-established cosmetic wholesale and distribution company working with major retailers worldwide. This facility will help the business adapt to the changing retail sector and enable them to expand their product offerings for PPE distribution.
  • Pagaya Hires Five Finance Industry Veterans, Further Driving Firm’s Transformation of Asset Management
    September 21, 2020
    Pagaya, a global, data-driven asset manager, today announced the hire of five finance industry veterans. Jeff Andrews and Paul Limanni joined Pagaya as Head of Originations and Head of Structured Products, respectively. Brandon McCue joined as Senior Managing Director of Client Advisory, Rob Brady as Senior Managing Director of Institutional Sales US, and Anna Roubos as VP of Brand & Communications. Deeply rooted in fintech and finance, these highly-skilled leaders fuel Pagaya’s transformation of asset management.
  • Advantage Capital Completes Financing with Las Vegas-Based Staffing Agency, All-In Recruiting
    September 21, 2020
    Advantage Capital today announced a small business loan in Las Vegas-based staffing and recruitment agency, All-In Recruiting. This minority- and woman-owned boutique agency specializes in placing top talent and diverse professionals in mid- to senior-level positions for tech giants such as Microsoft and SharkNinja.
  • Blackstone Announces Formation of ClearGen and $250 Million Capital Commitment
    September 21, 2020
    Blackstone (NYSE: BX), through funds managed by GSO Capital Partners LP (“GSO”), announced today the formation of a new portfolio company, ClearGen LLC (“ClearGen”) that will finance and own distributed and sustainable energy infrastructure assets (“Distributed Infrastructure”) focused on commercial, industrial and institutional customers. GSO will initially commit $250 million to fund ClearGen and expects to expand the commitment as capital is deployed. ClearGen will be managed by industry veterans with a combined 55 years of experience, George Plattenburg, Co-Founder and Chief Executive Officer, and Collin Franceschi, Co-Founder and Chief Development Officer.
  • PNC Bank’s Linda Bowden Announces Plans To Retire, Commercial Banking Executive Enrico Della Corna To Assume Regional President Role In 2021
    September 21, 2020
    PNC Bank announced that long-time Regional President, Linda Bowden, plans to retire in mid-2021. Succeeding Bowden effective Jan. 4, 2021 will be Enrico Della Corna, who currently serves as regional executive for Commercial Banking in the Northeast at PNC. Under Bowden’s leadership New Jersey is consistently a top-performing region across PNC. She will work closely alongside Della Corna through the first half of 2021 to extend that record of results and ensure his successful transition into the regional president role.
  • Churchill Hires Industry Veteran Christopher Freeze as Head of Investor Relations
    September 21, 2020
    Churchill Asset Management LLC, an investment-specialist affiliate of Nuveen providing customized financing solutions to private equity firms and their portfolio companies, has hired Christopher Freeze as Senior Managing Director and Head of Investor Relations. Based in New York City, Mr. Freeze will lead all aspects of the firm’s investor relations effort, including ongoing investor reporting and communication with Churchill’s global institutional investor base, reporting to David Heilbrunn, Churchill’s Head of Product Development & Capital Raising.
  • Huron Capital's High Street Insurance Partners Adds Two New Partner Agencies to Portfolio ExecFactor® Initiative Expands New York Footprint, Enters Connecticut Market
    September 21, 2020
    Leading lower-middle-market private equity firm Huron Capital announced today that its full-service insurance brokerage platform, High Street Insurance Partners ("High Street"), has acquired Tracy, Driscoll & Co., Inc. ("Tracy Driscoll" or "TDC") and Millennium Alliance Group, LLC ("Millennium" or "MAG"). Both agencies will support High Street's strategic goals by expanding its footprint in New York and establishing a presence in Connecticut.
  • Crestmark Provides More Than $27.3 Million in Commercial Financing to 14 Businesses in the First Half of September
    September 21, 2020
    Crestmark secured a total of $6,973,000 in ABL financial solutions for four new clients; Crestmark Equipment Finance provided $18,189,322 in eight new lease transactions; the Government Guaranteed Lending group provided $2,215,000 in financing for two new clients in the first half of September.
  • Enservco Signs Non-Binding Letter of Intent with Lender to Amend its Senior Revolving Credit Facility for Substantial Debt Reduction, New Working Capital Revolver and Equity
    September 17, 2020
    Enservco Corporation (NYSE American: ENSV), a diversified national provider of specialized well-site services to the domestic onshore conventional and unconventional oil and gas industries, today announced it has signed a non-binding letter of intent (“LOI”) with East West Bank (“EWB”) to amend its existing senior revolving credit facility to reduce bank debt by $16 million, amend the current facility into a term loan and provide a new working capital revolving line of credit in exchange for equity in Enservco.
  • Massive Inventory of Line Pipe Now Available From Tiger Group and P.I.T. Pipe
    September 17, 2020
    High-quality, never-used pipe is ideal for use in water-transmission, heavy construction, and the oil and gas sector; all inventory made in the United States.
  • Sterling National Bank Provides $7M of Working Capital to Arrow Security
    September 17, 2020
    Sterling National Bank's Commercial Services Group provided a credit line increase of senior secured credit facilities now totaling $7,000,000 to Arrow Security. (“Arrow” or the “Company”). The credit facilities will provide working capital to further expand and support the Company’s future projected growth.
  • PharmHouse Pursues Formal Restructuring
    September 17, 2020
    Joint venture seeks creditor protection while it restructures its business, financial obligations Canopy Rivers to provide up to $7.2 million in interim DIP financing
  • Houlihan Lokey Continues Expansion of Its Industrials Group With Key Hire
    September 17, 2020
    Houlihan Lokey, Inc. (NYSE:HLI), the global investment bank, today announced that Richard Hoh has joined the firm as a Managing Director in the Industrials Group. He is based in New York and will be part of the firm’s existing industrial technology subsector team, focusing primarily on electronic components as well as environmental technologies.
  • Qatar Investment Authority and Credit Suisse Asset Management Enter into Strategic Partnership in the Direct Lending Market
    September 17, 2020
    Credit Suisse and the Qatar Investment Authority (QIA) are pleased to announce that QIA will partner with Credit Suisse Asset Management to form a multibillion dollar direct private credit platform that will provide financing primarily in the form of secured first and second lien loans to upper middle-market and larger companies in the US and Europe
  • Truist Unveils Venture Capital Division with New Fintech Investment
    September 17, 2020
    Truist Financial Corporation (NYSE: TFC) today announced the launch of Truist Ventures, a corporate venture capital division created by integrating investments in technology companies from the heritage SunTrust brand with BB&T Ventures. The firm, which also is announcing its latest deal with global payments network Veem, is focusing on strategic partnerships and investments to bring novel solutions to Truist clients and deliver on the company's purpose to inspire and build better lives and communities.
  • Antares Capital Announces Final Close of Inaugural Senior Loan Fund
    September 17, 2020
    Antares Capital Advisers LLC, a subsidiary of Antares Capital LP (together with its parent companies, “Antares”) announced the final closing of its inaugural Senior Loan Fund (“SLF”). The fund, which launched in December 2019, closed on September 14th with approximately $3 billion of asset purchasing power, exceeding its initial target of $1.5 billion. Capital was raised across a diversified set of institutional investors.
  • Pandemic Highlights Value of Tech and Talent Investment for Business
    September 17, 2020
    - Most businesses plan to ramp up tech spending over next 12 months - Remote work likely to remain common even after pandemic subsides - Many believe their businesses would have fared better if they'd invested more in tech before COVID-19 hit
  • Kevin Kane Joins First Business Bank as President – Milwaukee Region
    September 17, 2020
    With more than 30 years of banking experience, including the last 28 years at BMO Harris Bank, Kevin is a Certified Treasury Professional (CTP) and has held various leadership roles in Commercial Lending and Treasury Management. He began his career with Harris Bank and joined M&I Bank in 1992, where he advanced through the acquisition with BMO to his most recent role as Managing Director, Head of Commercial Sales: Treasury & Payment Solutions. His focus on developing high-performing teams for the benefit of clients is a hallmark of his career that he will continue at First Business Bank.
  • Republic Provides a Non-Borrowing Factoring Facility to an Apparel Importer
    September 17, 2020
    Republic Business Credit provided a non-borrowing, traditional factoring facility with credit protection and collection services, with minimal annual volume requirements. Republic provided the credit information to support the decision for which orders to take and which ones to avoid during the recession. The company believes there will be an uptick in volume as the year progresses but it might be unevenly spread across his customer base depending on reopening guidelines.
  • Ultra Successfully Completes Financial Restructuring and Emergence from Bankruptcy
    September 16, 2020
    Centerview Partners served as financial advisor to the Company, Kirkland & Ellis LLP served as the Company’s legal counsel and FTI Consulting served as the restructuring advisors to the Company. Evercore Group L.L.C. served as financial advisor, and Stroock & Stroock & Lavan LLP served as legal counsel, to an ad hoc group of Ultra’s senior creditors in connection with the restructuring.
  • Oxford Finance Closes $15 Million Credit Facility with Vedanta Biosciences, Inc.
    September 16, 2020
    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 $15 million senior secured term loan with Vedanta Biosciences, Inc. ("Vedanta" or "the Company"), a clinical-stage biopharmaceutical company developing a new category of therapies for immune-mediated diseases based on defined bacterial consortia. The funds will be used for general working capital and to advance the development pipeline.
  • Delta Borrows $9 Billion in Largest Airline Debt Sale Ever
    September 16, 2020
    Delta Air Lines Inc. raised $9 billion in the industry’s largest debt sale ever, tapping into investors’ rampant demand for yield while seeking to survive a slowdown that’s causing it to burn through $27 million a day.
  • Finitive Facilitates Credit Facility for Buyer of Distressed Small Business Loans
    September 16, 2020
    Finitive, a private credit platform providing institutional investors with direct access to alternative lending investments, today announced that it has facilitated a credit facility for a specialty finance company that buys distressed small business loans and merchant cash advance (MCA) portfolios.
  • Aligned Closes $1 Billion Credit Facility and First-Ever U.S. Data Center Sustainability-Linked Financing
    September 16, 2020
    The facility is one of the largest private debt raises in data center history, consisting of a $650 million term loan, a $100 million delayed draw term loan and a $250 million revolving credit facility. Aligned engaged TD Securities as the administrative and collateral agent; Goldman Sachs Lending Partners LLC as the syndication agent; and ING Capital LLC as the sustainability structuring agent. TD Securities, Goldman Sachs Bank USA, Citizens Bank, N.A., Deutsche Bank AG, New York Branch, and Nomura Securities International, Inc. served as joint bookrunners and joint lead arrangers for the facility.
  • ENGS Commercial Capital, LLC Provides $1 Million Accounts Receivable Factoring Facility for Medical Staffing Services
    September 16, 2020
    In addition, ENGS worked with the company and its customers to put in place a seamless receivables management process that will allow the company to better service its customers. Now the company can move forward confident that they will have adequate cash flow to pursue growth opportunities without the administrative burden and overhead expense that comes with implementing a back-office system.
  • FocalPoint Advises EducationDynamics on its Refinancing by WhiteHorse Capital Management and Encina Business Credit
    September 16, 2020
    EducationDynamics, LLC (“EducationDynamics” or the “Company”) has raised $80 million from WhiteHorse Capital Management, LLC (“WhiteHorse”). The Company raised capital to finance the acquisition of key assets of Thruline Marketing, Inc. (“Thruline Marketing”) from Oaktree Capital Management as well as to refinance its existing debt. In addition, the Company raised $12.5 million from Encina Business Credit, LLC (“Encina”) in the form of a revolving credit facility. EducationDynamics is a portfolio company of Prudential Private Capital (“Prudential”) and Muirlands Capital. FocalPoint Securities, LLC (“FocalPoint”) served as the exclusive investment bank to the Company.
  • Axiom Bank, N.A. Appoints Edwin Rasinski As Winter Park Branch Manager
    September 16, 2020
    Axiom Bank, N.A., a Maitland-based, leading community bank, recently named Edwin Rasinski as branch manager of its new flagship Winter Park branch. In this role, Rasinski will oversee branch operations to meet the financial and business needs of the Winter Park community.
  • Endeavour Secures $50MM Debt Facility With CoVenture
    September 16, 2020
    Endeavour is pleased to announce the closing of a $50MM credit facility with CoVenture, a multi-strategy asset management firm. This facility will accelerate Endeavour's growth strategy for financing US Federal Government contractors. Headquartered in New York, CoVenture is an asset manager focused on investing across the capital stack of technology companies.
  • H.I.G. Capital Hires Andrew Liau as Co-Head of Infrastructure Team
    September 16, 2020
    H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with $40 billion of equity capital under management, announced today that it has hired Andrew Liau to co-lead its infrastructure team alongside Ed Pallesen. Andrew will be based in London, with primary day-to-day responsibility for the infrastructure teams’ activity in Europe, while Ed will continue to be based in New York with primary focus on the Americas.
  • HilltopSecurities Expands Debt Capital Markets, Adds High Yield Housing Origination
    September 16, 2020
    Stephen Coma will lead the firm’s High Yield Housing Origination group—the newest extension of its Debt Capital Markets division. Coma will oversee four new additions to HilltopSecurities’ High Yield Housing Origination group, including Managing Director Adriane Evans, Director Michelle Le, Assistant Vice President David Prieto, and Analyst Wei Fan. Coma, Le, Prieto, and Fan will serve clients from HilltopSecurities’ Charlotte, North Carolina, office and Evans will operate from Sarasota, Florida. The group reports to Mike Bartolotta, senior managing director and head of Dept Capital Markets.
  • Hilco Global Announces 2020 Little Village College Scholarship Award Recipients
    September 16, 2020
    Today, Hilco Global announced the recipients of its Hilco Scholars Scholarship Program to Little Village residents Sebastian Chaidez and Carla Prado. The Hilco Scholars program, now in its second year, began accepting submissions for its 2020 award cycle in July 2020. Each year, residents of the Little Village neighborhood in Chicago pursuing an associate degree program at one of the seven City Colleges of Chicago are eligible to apply for the award. The scholarship can be used for education-related expenses including tuition, fees, books, tools, equipment, and materials that are required for students to successfully complete their degree.
  • Gerber Finance Creates Natural Products Division to Fund High Growth Companies in the Space
    September 15, 2020
    Gerber Finance, a leading finance partner for companies experiencing accelerated growth, today officially launched Naturally Gerber Finance, the company’s newly formed division focused on the natural products market. The division works with companies within the natural products space, from clean label, organic and non-GMO products, to sustainable design and packaging. Helming the division is Andrew Hollingsworth, former Gerber client and CFO at Numi Organic Tea, hired earlier this year. Hollingsworth helped establish the company’s west coast headquarters.
  • In Memoriam: Stephen P. Johnson
    September 15, 2020
    J D Factors announces, with great sadness, the loss of its President and Founder, Stephen P. Johnson, who died Thursday, September 3, 2020, after a long battle with prostate cancer. It is a true rarity to work with someone who is both simultaneously shrewd and kindhearted in his business dealings and life. Steve was unfaltering in both of these things.
  • SFNet Q2 2020 Asset-Based Lending Index
    September 15, 2020
    The first laboratory-confirmed case of COVID-19 in the United States occurred on January 20, 2020, and was reported to the CDC on January 22, 2020. By April 1, 2020 the United States was averaging 27k cases per day and the rate increased to 41k cases per day by June 30, 2020, peaking at 75k cases on July 24th. From a geographic perspective, the five states with the largest number of reported cases were CA, FL, TX, GA, and NY. According to the 2019 SFNET Market Sizing and Impact Study, these same states represent 5 of the 10 largest states in terms of ABL commitments:
  • Ares Commercial Finance has Provided a Senior Secured Credit Facility to Support the Acquisition of Foodservice Packaging Manufacturer WinCup
    September 15, 2020
    Ares Commercial Finance announced that it has provided a senior secured credit facility to support Atar Capital’s acquisition of WinCup. Headquartered in Georgia, WinCup employs nearly 1,000 people across eight manufacturing facilities that provide nationwide production and distribution of a comprehensive portfolio of traditional and biodegradable foodservice packaging products.
  • White Oak Provides $4.5 Million in Funding to Three Aerospace Firms Supporting US Defense Agencies
    September 15, 2020
    White Oak Commercial Finance, LLC (“White Oak”), an affiliate of White Oak Global Advisors, LLC, announced its Government Contracting Finance Division provided $4.5 million in factor and ABL-based credit facilities to three aerospace businesses providing specialized services to US Defense agencies. The first is a veteran owned, service-disabled startup located in Washington State that provides intelligence, surveillance and reconnaissance services (ISR) to the global unmanned aircraft system (UAS) industry. It received a $1.5 million factoring facility to fund its working capital and payroll needs in support of its Federal Government contracts.
  • Lonestar Resources US Inc. Announces Restructuring Support Agreement
    September 15, 2020
    The Company is represented in this matter by Latham & Watkins LLP, Hunton Andrews Kurth LLP, Intrepid Partners LLC, Rothschild & Co US Inc. and AlixPartners, LLP.
  • Bryant Park Capital Secures a $25 Million Senior Debt Facility for Fast Cash Legal, LLC
    September 15, 2020
    Bryant Park Capital ("BPC"), a leading middle-market investment bank, announced today that Fast Cash Legal, LLC ("Fast Cash" or the "Company") recently closed on a $25 million senior debt transaction with a leading institutional investor to the specialty finance space. BPC served as the exclusive financial advisor to Fast Cash in connection with this transaction.
  • Robert (Bob) Fisher, CLFP Joins Arboretum Commercial Finance, LLC
    September 15, 2020
    Fisher has a 35-year background of sales, credit and management experience in the equipment financing industry. Bob has held management positions with Bank of America, Main Street Bank and most recently at Ascentium Capital. Fisher has been active in numerous professional organizations, having previously served as UAEL President and the CLFP Foundation President.
  • Reech Corporations Group Launches Merchant Banking and Capital Markets Division
    September 15, 2020
    - Former Carlyle Group Senior Advisor Christopher Yoshida appointed as CEO, Merchant Banking & Capital Markets Division - New division will originate and deploy financing across investment group
  • Hilco Merchant Resources Appoints Charles M. Jayson as Executive Vice President – Retail Business Development
    September 15, 2020
    Hilco Merchant Resources announced today the appointment of Charles M. Jayson (Chuck) to Executive Vice President, Retail Business Development of Hilco Merchant Resources. Mr. Jayson will focus on working with leaders in the consumer sector, developing and structuring transactions with retailers and consumer product companies to maximize return on excess assets. He also will provide advisory services spanning product development, merchandising, supply chain, global distribution, and licensing programs to Hilco Global clients.
  • Franklin Capital Partners with Turnaround Firm Virtas Partners to Provide a Snack Foods Company With Financing
    September 15, 2020
    Franklin Capital has been working hard to partner with turnaround firms, banks, and other financial professionals, to help small and medium-sized businesses navigate this unfamiliar territory and become increasingly stronger. We recently successfully closed a deal for financing after partnering with a turnaround firm.
  • CapX Partners Hires Mike Wells as Director
    September 15, 2020
    CapX Partners (CapX), a leading provider of middle-market equipment leasing and financing programs, has added Mike Wells as Director. His responsibilities include Midwest business development and relationship management.
  • Great Lakes Business Credit Names Rhett B. Rowe as CEO
    September 15, 2020
    In a move certain to alter the asset-based lending landscape, Great Lakes Business Credit has a new CEO with expansive plans for the lender. Business finance pioneer Rhett B. Rowe, whose record as the company's senior managing director attracted investment group interest, has now assumed overall responsibilities as the CEO of the firm. Founded in 2002, Great Lakes Business Credit has a long record of providing financing to companies seeking to regain financial stability and return to conventional financing.
  • Gordon Brothers to Sell Silica Mining Assets in Arcadia, WI
    September 15, 2020
    Gordon Brothers, the global advisory, restructuring and investment firm, has been engaged to sell silica mining and processing assets and plant equipment located in Arcadia, Wisconsin on behalf of Wisconsin Bank & Trust as secured lender. The sale features a 130 ton per hour wet plant, a 200 ton per hour dry plant, as well as a portfolio of over 100 units of associated support equipment, including radial stackers.
  • Town Sports Files for Chapter 11
    September 14, 2020
    The parent company of New York Sports Clubs and Lucille Roberts gyms,Town Sports International Holdings, has filed for Chapter 11 protection in the wake of a cash flow shortage due to the pandemic. The gym is not closing up shop, however. It instead plans to restructure and “emerge as a thriving powerhouse in the fitness industry,” it said on its website. It will continue to operate its facilities, which are mainly located on the East Coast, as it works its way through the bankruptcy process.
  • H.I.G. Capital Acquires DGS S.p.A.
    September 14, 2020
    H.I.G. Europe (“H.I.G.”), the European affiliate of H.I.G. Capital, a leading global private equity investment firm with more than €34 billion of equity capital under management, announced today the acquisition by an affiliate of a controlling stake in DGS S.p.A. (the “Company”), a leading firm in the Italian information technology industry.
  • MDLIVE Announces $50 Million Crossover Equity Investment from Sixth Street Growth
    September 14, 2020
    MDLIVE Inc., one of the three largest and fastest growing telehealth companies in the U.S. offering virtual healthcare services in all 50 states, today announced the closing of a $50 million crossover equity investment from Sixth Street Growth, the growth investing arm of Sixth Street, a leading global investment firm. The $50 million funding will be used primarily for the ongoing strategic expansion of MDLIVE's comprehensive, technology-enabled, and disruptive Virtual Primary Care digital health platform.
  • Strategic Storage Trust IV Announces Term Loan Expansion
    September 14, 2020
    Strategic Storage Trust IV, Inc. ("SST IV"), a public non-traded real estate investment trust sponsored by an affiliate of SmartStop Self Storage REIT, Inc., announced a $9.2 million expansion of its term loan with TCF National Bank.
  • Ameris Bank Expands Commercial Banking Across the Southeast
    September 14, 2020
    Ameris Bank is deepening its commercial team with the bank's expansion into Tampa and Greenville, its new market strategies in Augusta and Charlotte and its advancement of the treasury and cash management division. The following long tenured and expert bankers have been tabbed to lead these initiatives: Brian Parks has joined the bank as regional president overseeing most of the bank's Florida markets spanning from Jacksonville to Orlando to Tampa. Previously he was with SunTrust, now Truist, for 22 years, where he served as a regional leader, banking commercial and middle market relationships across the Southeast.
  • SLIM Capital Completes A $2.2MM Funding for a Tire Shredding Company
    September 14, 2020
    SLIM Capital completed a transaction totaling $2.2 million in August 2020, for a tire shredding company in the Lone Star State. These long-time tire recycling veterans have been recycling used tires from various facilities throughout TX. As part of the tire recycling process, there was in excess of 80% of the inventory that was going to waste.
  • Kyle C. Murphy Joins Hilco Valuation & Industrial Services as Managing Director of Business Development for the Northeast Region
    September 14, 2020
    Hilco Global announced today the appointment of Kyle C. Murphy to Managing Director, Business Development of Hilco Valuation and Industrial Services. Mr. Murphy, who is based in Boston, will focus on private equity sponsors, lenders, advisors, consultants, and companies in the northeast region of the U.S. Mr. Murphy joins Hilco Valuation & Industrial Services most recently from J.P. Morgan, where he led business development and loan origination for their Middle Market Banking Group by calling primarily on middle-market private equity sponsors based in New England.
  • Sallyport Commercial Finance Helps a Specialty Pipe and Fitting Distributor with a $250,000 Credit Facility
    September 14, 2020
    Sallyport Commercial Finance provides a $250,000 accounts receivable facility to a company specializing in the distribution of specialty piping materials.
  • A&G Now Marketing Leases for 280 Stein Mart Stores, Plus Distribution Centers and Offices
    September 14, 2020
    A&G Real Estate Partners (A&G) has begun marketing leases for approximately 280 store locations across the United States that are being closed by Stein Mart, Inc. in connection with its voluntary Chapter 11 bankruptcy. The firm, which was retained as the retailer’s real estate advisor, is also offering leases for three distribution centers and two office properties.
  • Beleaguered Bakery Chain Maison Kayser Files for Bankruptcy
    September 14, 2020
    In the bankruptcy document, Maison Kayser’s U.S. operator Cosmoledo LLC states that it agreed to sell all of its assets to Aurify, the same brand that recently purchased all the U.S. operations for beleaguered bakery chain Le Pain Quotidien for $3 million. It wasn’t immediately clear how much Aurify is paying for the Maison Kayser takeover.
  • McGuireWoods Adds Top-ranked Leveraged Finance Partner Linn Mayhew in London from DLA Piper
    September 14, 2020
    McGuireWoods continues to expand its formidable global banking and finance capabilities with the arrival of partner Linn Mayhew, who joins the firm’s top-ranked debt finance practice in London. Mayhew focuses on international acquisition and leveraged finance for private equity sponsors, alternative investment funds, banks and corporate clients. She advises borrowers and creditors at all levels of the capital structure. She also advises on fund finance, restructurings and general banking matters.
  • Citigroup’s Fraser to Be First Woman to Lead a Big Wall Street Bank
    September 14, 2020
    Come February, Jane Fraser will become the first woman to lead a major financial institution in the United States when she takes the reins at Citigroup, the country’s third-largest bank. Ms. Fraser, who has been at Citi for 16 years and runs its biggest global division, the consumer bank catering to individual customers, will succeed Michael Corbat as chief executive.
  • Hornbeck Offshore Completes Reorganization And Emerges From Chapter 11
    September 14, 2020
    Hornbeck Offshore Services, Inc. (the "Company") announced that on September 4, 2020 (the "Effective Date") the Company emerged from Chapter 11 pursuant to its Joint Prepackaged Chapter 11 Plan of Reorganization (the "Plan"). The Plan implements the previously announced Restructuring Support Agreement negotiated with the Company's lenders and note holders.
  • Republic Provides a $3.0 Million Direct to Consumer Facility for a Sponsor Owned Apparel Accessory Manufacturer
    September 14, 2020
    When a private equity owned west coast apparel accessory manufacturer needed more availability and additional liquidity from their loan facility, they choose Republic Business Credit to accelerate their growth through the pandemic. Republic provided a growth orientated facility that gives availability on inventory, merchant accounts and direct to consumer proceeds.
  • J.Jill Obtains Necessary Consents to Implement out of Court Consensual Financial Restructuring Transaction
    September 14, 2020
    Kirkland & Ellis LLP is serving as legal counsel to the Company, Centerview Partners is serving as the Company’s financial advisor and investment banker, and AlixPartners is serving as the Company’s restructuring advisor.
  • Highland Copper Announces Amendments to Credit Facility
    September 14, 2020
    Highland Copper Company Inc. (TSXV: HI, OTCQB: HDRSF) (the “Company”) announced today that the credit agreement with Osisko Gold Royalties Ltd (“Osisko”) and Greenstone Resources II LP entered into on May 20, 2019 was further amended. Osisko has made available to the Company under the credit agreement an additional amount of US$500,0000, increasing the total indebtedness under the credit agreement to US$5,000,000 plus accrued interest of approximately US$601,000 as of August 31, 2020 (the “Loan”). The maturity date for the repayment of the Loan was extended to October 31, 2020.
  • Citizens Advises Advocate on its Recapitalization by Spire Capital
    September 14, 2020
    Citizens M&A Advisory served as the exclusive financial advisor to Advocate on its recapitalization by Spire Capital. Advocate provides technology business management (TBM) and technology expense management (TEM) services to enterprise organizations to optimize their technology strategy and infrastructure. Spire Capital is a leading New York-based private equity firm specializing in investments in the technology-enabled business services, communications, media and education sectors.
  • Gibraltar Grows Its Expert Teams to Do More
    September 14, 2020
    Gibraltar welcomes Paulina Nenadovic to our Operations group in the role of Collateral Analyst. In her new role, she will review and analyze the assets our clients use as collateral. Paulina started her career with JP Morgan Chase/Bank One in Chicago as the Assistant to the Regional Credit Executive of Private Client Services. On the Credit side, Todd Seehase will be joining us as a Senior Vice President and Account Executive. Todd brings thirty years of experience underwriting and managing a combination of middle market, asset-based, and leveraged loans in various roles at RBS Citizens Bank, FirstMerit, and JP Morgan.
  • FTI Capital Advisors Strengthens Investment Banking Practice and Telecom, Media & Technology Expertise
    September 14, 2020
    FTI Consulting, Inc. (NYSE: FCN) today announced the continued expansion of FTI Capital Advisors (member FINRA/SIPC), the firm’s wholly owned investment banking subsidiary, with the addition of Colin McCafferty as a Senior Managing Director and his investment banking team from McCafferty & Company.
  • U.S. CLOs Log Higher Spreads, Steady Metrics in August
    September 14, 2020
    Fitch Ratings-Sydney-11 September 2020: Most U.S. broadly syndicated loan (BSL) collateralized loan obligations (CLOs) under Fitch Ratings' surveillance showed stable or improving portfolio metrics in August compared with July, as rating pressure on underlying loan issuers eased and LIBOR floors supported spreads, Fitch says in its latest Monthly U.S. CLO Index report. The steadier metrics have come at a cost, with net portfolio losses being one number that continues to weaken, albeit slightly.
  • FGI Provides a $7MM ABL for Malin + Goetz
    September 14, 2020
    Established in 2004 by Matthew Malin, a former buyer at Barneys, and Andrew Goetz, who came from an architectural and design background, Malin + Goetz is a unique range of luxury skincare. The emphasis is firmly on the brand value and what the products can do. Every sensory element is considered in extensive detail from the external packaging through to the composition and effectiveness of the individual products. Malin + Goetz supplies its products in the US and internationally through retailers, on-line channels and its own retail outlets. In 2015, Malin + Goetz was acquired by Manzanita Capital which has worked closely with the business to grow the brand.
  • North Mill Capital Provided a $18,000,000 Asset Based Revolving Line of Credit for Optical Cable Corporation
    September 14, 2020
    The funds were used to refinance the prior lender and provide additional working capital for the company. Optical Cable Corporation is a leading manufacturer of a broad range of fiber optic and copper data communication cabling and connectivity solutions. The company is headquartered in Virginia with additional manufacturing facilities in Texas and North Carolina.
  • Republic Capital Access Welcomes Josh Breece
    September 14, 2020
    Josh was raised in the Northern Virginia area, graduated from Stone Bridge High School, and attends Washington & Lee University, where he holds numerous football records. Josh also volunteers with several mentoring programs for at-risk youth.
  • mBank Business Credit Funds $4,500,000 Line of Credit for a Michigan-based Food Distributor
    September 14, 2020
    A Michigan distributor of consumer food products was looking for a new lender. The firm was experiencing record growth and needed a lender that could grow with them. mBank Senior Management personally visited the client and reviewed their plans and met with all management. mBank then presented the company with a customized financial package that met their needs. The loan closed in August 2020.
  • Century 21 Files For Chapter 11 Bankruptcy, Plans To Close All 13 Stores
    September 10, 2020
    Century 21, an institution for bargain shoppers in New York City for nearly 60 years, is closing for good due to the COVID-19 pandemic. The retailer announced Thursday it filed for Chapter 11 bankruptcy and will close all 13 department stores across New York, New Jersey, Pennsylvania and Florida.
  • Hilco Report Finds Strategic Approach to Inventory Monetization Essential for Retailers, CPG Manufacturers as Pandemic Uncertainty Lingers
    September 10, 2020
    Hilco Global has issued a timely report on the current state of retail inventories and how the ongoing, pervasive environment of uncertainty is likely to impact the disposition of merchandise into the off-price market moving ahead. Weighing Retail Inventory Monetization Options is Critical as COVID-19 Persists, co-authored by Marc Caplan and Ray Armendariz of Hilco Wholesale Solutions, looks at how alternative strategies and creativity in monetizing these inventory assets can play an important role in providing the liquidity needed by many retailers and manufacturers during this unprecedented period.
  • Roger Moore Joins First Business Growth Funding as Vice President – Business Development Officer
    September 10, 2020
    First Business Growth Funding, the Accounts Receivable Financing arm of First Business Financial Services, Inc., announces that Roger Moore has been hired as Vice President - Business Development Officer. He is located in the Memphis, Tennessee area. Roger has over 25 years of experience in the commercial finance industry. For the last 10 years, he focused on providing working capital solutions to businesses through Accounts Receivable Financing and Asset-Based Lending.
  • Moritt Hock & Hamroff's Julia Gavrilov Named To Secured Finance Network's 2020 Top 40 Under 40 List
    September 10, 2020
    Julia Gavrilov, counsel in the Garden City office of Moritt Hock & Hamroff LLP has been chosen as a recipient of the 2020 Secured Finance Network's (SFNet) 40 Under 40 Awards. The global award recognizes the best and the brightest rising stars in the secured finance industry. SFNet was formerly the Commercial Finance Association, the nationwide trade association in the secured lending community.
  • FocalPoint Advises Phoenix Electric, a Portfolio Company of Tejas Investments, on its Sale to Ascension Property Services
    September 10, 2020
    Phoenix Electric (“Phoenix” or the “Company”), the leading multi-family electrical contractor in Texas and a portfolio company of Tejas Investments, has been acquired by Ascension Property Services (“Ascension”). Phoenix’s President, Michael Riley, will continue to lead and operate the Company. Specific terms of the transaction were not disclosed. FocalPoint Partners, LLC (“FocalPoint”) served as financial advisor to the Company.
  • Wolters Kluwer Hosts Webinar on Community Reinvestment Act Modernization
    September 10, 2020
    September 17 event will explore key aspects, impacts of OCC’s CRA rule for lenders.
  • CapitalPlus Strengthens Sales Team to Support Construction Companies
    September 10, 2020
    CapitalPlus Construction Services, a leading provider of accounts receivable financing for the construction industry, recently announced the addition of Adam T. Keck as Senior Account Executive. Adam will be responsible for business development and client management in the western region of the United States.
  • iQor Takes Action to Strengthen Capital Structure, Reaches Agreement to Enhance Financial Stability
    September 10, 2020
    Restructuring Provides for Enhanced Liquidity via a $80 million Revolving Credit Facility and up to $97.5 million of New Money Investment from Existing Lenders Transaction to be Implemented Through a Voluntary, Pre-Packaged Chapter 11 Process Operations Continuing Without Interruption; No Impact Expected for Customers, Vendors, or Employees
  • BlueVine Secures $75 Million Revolving Credit Facility with Atalaya Capital Management
    September 10, 2020
    BlueVine, the leading provider of small business banking, today announced it has secured a $75 million revolving credit facility from funds managed by Atalaya Capital Management, a private credit and special opportunities investment manager based in New York. BlueVine will leverage the capital to expand its best-in-class, flexible Line of Credit lending solution.
  • urban-gro, Inc. Announces Amendment to Credit Facility
    September 10, 2020
    Amended Terms Provide Greater Financial Flexibility by Removing Demand Function and Extending Maturity Date through to End of 2021
  • TAB Bank Provides Manufacturing Company in Texas with a $4.5 Million Revolving Credit Facility
    September 10, 2020
    TAB Bank is pleased to announce it has provided a $4.5 million asset-based revolving credit facility for manufacturing company based in Texas. The new facility is extended through a multi-year agreement and will provide for the ongoing working capital needs for the company.
  • Lands’ End Announces New Term Loan and Expanded ABL Facility
    September 10, 2020
    Lands' End, Inc. (NASDAQ: LE) today announced that it has secured a new term loan of $275 million. The loan proceeds, combined with borrowings under the Company’s ABL Facility, were used to refinance the Company’s term loan, which was due in April 2021. Upon the closing of the refinancing, maximum availability under the ABL Facility was expanded by $75 million to $275 million.
  • Anchorage Capital Group Becomes Majority Owner of J. Crew Group
    September 10, 2020
    Weil, Gotshal & Manges LLP served as legal counsel, Lazard served as investment banker, and AlixPartners, LLP served as restructuring advisor to J.Crew Group. Anchorage and other members of an ad hoc committee were represented by Milbank LLP as legal counsel and PJT Partners LP as investment banker. BofA Securities, Inc., JPMorgan Chase Bank, N.A., and MUFG Union Bank, N.A. served as joint lead arrangers and joint bookrunners for the new ABL credit facility.
  • Rosenthal’s Heather Fidura Heads to Florida, Expanding Business Development Capabilities in the Southeast
    September 9, 2020
    Rosenthal & Rosenthal, Inc., the leading independent factoring, asset-based lending and purchase order financing firm in the United States, today announced that Heather Fidura will be relocating to Florida, adding to the Southeast’s already robust team of financial services professionals. After nearly 10 years with Rosenthal’s New York office, Fidura will now be based in Tampa, Florida and will continue her role as a Business Development Officer, sourcing new business for the firm across all products: asset-based lending, factoring and purchase order financing.
  • Gateway Trade Funding Closed 7 Facilities Totaling $13,000,000 For US and Canadian Importers and Suppliers
    September 9, 2020
    Gateway Trade Funding, a PO and Trade Financing company, is happy to announce that we have recently closed the following purchase order facilities: • A $2,500,000 facility for an importer of PPE gowns selling to a large US municipality. • A $1,000,000 facility for an importer of PPE products selling to US states, municipalities and the federal government.
  • LBC Credit Partners Supports CIVC Partners’ Investment in iVision
    September 9, 2020
    LBC Credit Partners (“LBC”), one of the leading providers of financing solutions to middle market companies, provided a senior secured term loan facility to support the investment in iVision by CIVC Partners, in partnership with the existing management team. LBC served as Joint Lead Arranger for the senior secured term loan facility.
  • Versant Funding LLC Funds a National Distributor of Sweets and Treats
    September 9, 2020
    Versant Funding LLC is pleased to announce it has funded a $1,800,000 non-recourse factoring facility to a national distributor of sweets and treats.
  • Reliance Steel & Aluminum Co. Announces Amended and Restated $1.5 Billion Credit Facility
    September 9, 2020
    Bank of America N.A. is the Administrative Agent and JPMorgan Chase Bank, N.A. and Wells Fargo Bank, National Association are Co-Syndication Agents. BofA Securities, Inc., JPMorgan Chase Bank, N.A. and Wells Fargo Securities, LLC were the Joint Lead Arrangers and Joint Book Managers.
  • Malfitano Partners Announces Strategic Alliance With Industrial Asset Monetization Experts From The Branford Group
    September 9, 2020
    Malfitano Partners continues to grow the resources available to help its clients with liability management and restructuring needs by expanding and entering into an exclusive strategic alliance with The Branford Group, a premier industrial asset valuation and monetization firm led by seasoned industrial experts, including Bill and James Gardner and Scott Lonkart.
  • Prestige Capital Announces $7 Million in Additional PPE Funding
    September 9, 2020
    Prestige Capital Finance, LLC is proud to continue funding PPE providers. In July alone, Prestige provided $7 million to two companies to fund the manufacturing and importing of masks, swab transport containers, disinfectant wipes and more.
  • Strategic Data Center Secures up to $200 Million Credit Facility with Sunflower Bank
    September 8, 2020
    Strategic Data Center Fund Manager, LLC (“Strategic Data Center” or the “Company”) today announced it has secured a revolving line of credit that converts into a permanent loan from Sunflower Bank. The credit facility will initially provide the ability to borrow up to $25,000,000. Over time, and subject to certain conditions, Strategic Data Center anticipates increasing the size of the facility to aggregate commitments of up to as much as $200,000,000. The Company believes the credit line will significantly enhance its ability to continue acquiring and developing a diversified portfolio of data center real estate assets within the U.S.
  • Enable Injections Announces $25 Million Credit Facility Closed with Oxford Finance
    September 8, 2020
    Enable Injections, Inc. ("Enable"), a company developing and manufacturing the enFuse® platform of investigational wearable infusion devices, today announced it has completed a credit facility for $25 million from Oxford Finance LLC ("Oxford"), a specialty finance firm that provides senior debt to life sciences and healthcare services companies worldwide. The funds will support the scaling of high-volume manufacturing and achievement of major inflection points as Enable approaches commercialization.
  • Green Plains Completes $75 Million Loan Facility
    September 8, 2020
    Green Plains Inc. (NASDAQ:GPRE) today announced the closing of a $75 million 15 year term loan facility with MetLife Investment Management (MIM), due 2035. The company will use the proceeds to finance the construction of high protein technology at Green Plains Wood River LLC as well as a yet to be announced future location.
  • 7 MH&H Attorneys Named Best Lawyers in America© & Best Lawyers in America© Ones to Watch 2021
    September 8, 2020
    The law firm of Moritt Hock & Hamroff LLP with offices on Long Island and in Manhattan is pleased to announce that the following attorneys have been selected for inclusion in the 2021 Editions of Best Lawyers® and Best Lawyers®: Ones To Watch.
  • Citizens Commercial Banking Treasury Management Survey
    September 8, 2020
    Data Security is Top Concern for Businesses During Pandemic More efficient treasury platforms with self-service capabilities also on business leaders’ wish list
  • Sallyport Commercial Finance Structures a Credit Facility
    September 8, 2020
    Sallyport Commercial Finance helps a passionate entrepreneur and hobby enthusiast in the trading card business find a solution to meet the growing demand and fill upcoming orders. The credit facility will enable the business to continue to service their existing customers and help grow market share.
  • Tiger Group Online Auction Features Equipment for Screen Printing and Premium Promotional Manufacturing
    September 8, 2020
    Online bidding opens on Sept. 15 for Aprinta Group surplus assets; auction includes everything from textile, extrusion and sewing equipment, to inventories of blank pens and flashlights. Tiger Group will begin accepting bids on September 15 for an online auction of hundreds of pieces of equipment used for screen printing and manufacturing apparel and premium promotional products. Online bidding at SoldTiger.com will commence on Tues., Sept. 15, at 10:30 a.m. (EDT) and will close on Tues., Sept. 22, at 10:30 a.m. All bidders are required to register prior to the sale at SoldTiger.com.
  • Corporate Finance Expert Joins Avison Young in Washington, D.C.
    September 8, 2020
    John Kevill, Avison Young Principal and President of U.S. Capital Markets, today announced the appointment of Tim Hall as Avison Young Principal. Hall is based in Washington, D.C., and brings his corporate finance expertise to the firm's Capital Markets team, focusing on working with private equity firms, public/private corporations and institutional real estate owners.
  • CIT Named Top Lead Arranger for Renewable Energy Financing
    September 8, 2020
    CIT Group Inc. (NYSE: CIT) today announced that its Power and Energy business was named Renewable Energy Lead Arranger of the Year by Power Finance & Risk, a top publication covering the energy project finance industry. CIT’s Power and Energy business was selected by the Power Finance & Risk editorial team based on its independent research and industry insights. The award is granted for excellence and innovation while serving as lead arranger in financing renewable energy projects for a variety of clients, the magazine said.
  • Crestmark Provides More Than $45.8 Million in Commercial Financing to 152 Businesses in the Second Half of August
    September 8, 2020
    Crestmark secured a total of $16,993,300 in ABL financial solutions for ten new clients; Crestmark Equipment Finance provided $11,387,492 in six new lease transactions; Crestmark Vendor Finance provided $10,647,040 in 132 new lease transactions; and the Government Guaranteed Lending group provided $6,869,300 in financing for four new clients in the second half of August.
  • Asset-based Borrowers Mostly Shut out of Fed's Main Street Program
    September 8, 2020
    The Federal Reserve's Main Street Lending Program is shutting out a significant chunk of U.S. mid-sized companies, excluding some whose pre-coronavirus business models make them appear too indebted. The program's restrictions have largely excluded companies that rely on asset-based borrowing, a financing method prominent in real estate but also used in a variety of other industries, including retail and manufacturing.
  • Vena Solutions Inc. Accelerates Growth with US$25 Million Financing from CIBC Innovation Banking
    September 8, 2020
    CIBC Innovation Banking is pleased to announce a growth capital financing for Toronto-based Vena Solutions Inc. (“Vena”), a provider of cloud-based financial planning and analysis software. The funding enables Vena to accelerate growth by further expanding product content and market reach.
  • BCT-The Community's Bank Continues Strategic Appointments, Welcomes Terry Elliott as Senior Vice President
    September 8, 2020
    BCT-Bank of Charles Town, also known as The Community's Bank, announced the appointment of Terry L. Elliott to the position of Senior Vice President, Commercial Lender, serving Loudoun County, Prince William County, and Northern Virginia. Ms. Elliott brings a record of success to BCT. Most notably, she was recognized as Financial Services Champion of the Year by the United States Small Business Administration for the Richmond District.
  • Main Street Announces New Portfolio Investment Invests $26.0 Million in Superior Rigging & Erecting Co.
    September 8, 2020
    Main Street partnered with the Company's management team to facilitate the transaction, with Main Street funding $26.0 million in a combination of first-lien, senior secured term debt and a direct equity investment. In addition, Main Street is providing Superior with access to additional term debt to facilitate its future growth needs.
  • Gerber Finance Announces the Hiring of Three New Full-time Employees
    September 8, 2020
    Graham Nelson joins the California office as a Collateral Analyst with previous experience in the banking, payments, and healthcare industries. Hailey Williams is a recent graduate from Drew University with a Bachelor of Arts degree in Business. Kelly South came on board as a Marketing intern in January and after assisting with the Gerber Finance Foundation, social media efforts, and marketing campaigns she has officially been hired as Marketing & Communications Coordinator.
  • Unit Corporation Successfully Completes Financial Restructuring, Emerges from Chapter 11 and Appoints New Board of Directors
    September 8, 2020
    Vinson & Elkins L.L.P. served as legal advisor, Evercore Group L.L.C. served as investment banker, and Opportune LLP served as restructuring advisor to the Company. Weil, Gotshal & Manges LLP served as legal advisor and Greenhill & Co., LLC served as financial advisor to an ad hoc group of holders of Subordinated Notes.
  • King Trade Capital Provides $5 Million PO Finance Solution for a Texas-based Distributor
    September 8, 2020
    King Trade Capital is pleased to announce the financing of a PO finance facility of $5 million to help a Texas-based distributor purchase and sell hand sanitizing wipes to 7-11, Walgreens and other national retailers.
  • Business Executives See Improved Prospects for Their Own Companies but Report Little Confidence in U.S. Economy Overall, AICPA Survey Finds
    September 8, 2020
    Hiring plans are expected to be flat over the next 12 months; Only 24 percent of executives say they are optimistic about the U.S. economy and profit and revenue expectations stabilize from last quarter’s steep drop.
  • Purple Innovation, Inc. Announces New Five-Year, $100 Million Senior Secured Credit Facility
    September 8, 2020
    Purple Innovation, Inc. (NASDAQ: PRPL) ("Purple"), a comfort innovation company known for creating the "World's First No Pressure™ Mattress," today announced that it has executed a new five-year $100 million senior secured credit facility with a group of financial institutions led by KeyBanc Capital Markets. KeyBanc Capital Markets acted as the joint lead arranger and will be the administrative agent for the financing. Funding will be provided through a syndicate of banks including Keybank, Bank of Montreal, Fifth Third Bank, Silicon Valley Bank, Truist, Wells Fargo, Raymond James, and Arvest Bank.
  • Houlihan Lokey Hires Industry Veteran to Lead New Practice in Healthcare
    September 8, 2020
    Houlihan Lokey, Inc. (NYSE:HLI), the global investment bank, today announced that Keith Barry has joined the firm as a Managing Director and Head of Medical Technology, a new practice within the Healthcare Group. He is based in San Francisco. Also joining the Healthcare Group as a Vice President in San Francisco is Allan Burton, who will cover medical technology.
  • Fifth Third Business Capital Arranges New Senior Credit Facility for Acquisition of Donnelly Custom Manufacturing
    September 3, 2020
    Fifth Third’s credit facility was used to facilitate the acquisition of Donnelly Custom Manufacturing by Akoya Capital Partners, LLC and will assist the company with capital expansion, growth, and working capital funding.
  • Bridge Bank Extends $2MM Credit Facility to Miva, Inc
    September 3, 2020
    Bridge Bank today announced it has extended a credit facility to Miva, Inc., a San Diego-based e-commerce software and service provider for mid-size and enterprise merchants, offering flexible, agile solutions that drive online sales.
  • Sterling National Bank Provides $3,000,000 of Secured Credit Facilities to Right Sized Solutions, Inc.
    September 3, 2020
    Sterling National Bank's Commercial Services Group provided senior secured credit facilities totaling $3,000,000 to Right Sized Solutions, Inc. (“RSSi” or the “Company”). The credit facilities will provide working capital to further expand and support the Company’s future projected payroll and growth.
  • Lands' End Announces Second Quarter Fiscal 2020 Results
    September 3, 2020
    Lands' End, Inc. (NASDAQ: LE) today announced financial results for the second quarter ended July 31, 2020.
  • WAYSIDE TECHNOLOGY GROUP, INC. : Entry into a Material Definitive Agreement, Financial Statements and Exhibits (form 8-K)
    September 3, 2020
    On August 31, 2020, Wayside Technology Group, Inc. and certain of its wholly owned subsidiaries (collectively, the "Company"), entered into an amendment to the Company's existing $20,000,000 revolving credit facility (the "Amended Credit Facility") with Citibank N.A. ("Citibank")...
  • Neiman Marcus Adds More Stores to Its Closures List
    September 3, 2020
    Neiman Marcus is set to close two more outposts. The high-end chain has confirmed that it will permanently shut down its full-line stores in Natick, Mass., and Walnut Creek, Calif. The company said that the locations are expected to continue operations into 2021, with exact closing dates yet to be announced.
  • Armstrong Teasdale Adds 20, Welcomes Martin Leigh Attorneys and Staff
    September 3, 2020
    Armstrong Teasdale proudly announces that seven attorneys and 13 staff members from Martin Leigh have joined the firm’s Kansas City and St. Louis offices.
  • Alterna Capital Solutions Adds Three Experts to Meet Demand for SME Growth Capital
    September 3, 2020
    Alterna Capital Solutions (Alterna) announced the recent addition of three members to its team of dedicated specialty and alternative financing experts.
  • MidFirst Business Credit Announces New Lending Relationship with Northern Brewer, LLC
    September 3, 2020
    MidFirst Business Credit (MFBC) announced it has provided a $3 million working capital facility to Northern Brewer, LLC (Northern).
  • Akorn Receives Court Approval of Sale to Lenders
    September 2, 2020
    Akorn, Inc., a leading specialty pharmaceutical company, today announced that the United States Bankruptcy Court for the District of Delaware has approved its sale to the Company's existing lenders.
  • ReStore Capital Hires Daniel Rubin as Managing Director
    September 2, 2020
    Mr. Rubin joins ReStore Capital in the newly created position of Managing Director. In this role, he will be responsible for identifying, cultivating, structuring, and closing potential retail M&A, financing, and debt acquisition transactions.
  • PRA Group Announces Extension and Amendment of North American Credit Facility
    September 2, 2020
    PRA Group, Inc. (Nasdaq: PRAA), a global leader in acquiring and collecting nonperforming loans, announced today that it extended and amended its North American credit facility on August 26, 2020.
  • U.S. Xpress Enterprises Inc. Announces Virtual Conference Participation
    September 2, 2020
    U.S. Xpress Enterprises, Inc. (NYSE: USX) the nation’s fifth largest asset-based truckload carrier by revenue, today announced that Eric Fuller, President and Chief Executive Officer, and Eric Peterson, Chief Financial Officer, are scheduled to virtually participate at the following conferences:
  • KB US Holdings, Inc. Announces Acceptance of Stalking Horse Bid to Close Sale in Next 60 Days
    September 2, 2020
    KB US Holdings, Inc. ("KB or the Company"), parent company of the Kings Food Markets and Balducci's Food Lover's Market subsidiary banners, today announced it has accepted a stalking horse bid from TLI Bedrock to purchase the Company for $75 million.
  • Cardinal Energy Ltd. Announces Extension of Revolving Credit Facility
    September 1, 2020
    Cardinal Energy Ltd. ("Cardinal") (TSX: CJ) has received approval to extend the revolving period applicable to the Company’s existing reserves-based credit facility to September 30, 2020.
  • Lana Fidelscaia Joins First Business Growth Funding as Vice President - Business Development Officer
    September 1, 2020
    First Business Growth Funding, the Accounts Receivable Financing arm of First Business Financial Services, Inc., announces that Lana Fidelscaia was hired as Vice President - Business Development Officer.
  • Monroe Capital Supports CORE Industrial Partners’ Fathom
    September 1, 2020
    Monroe Capital LLC (“Monroe”) today announced an increase in the credit facility to FATHOM to support the acquisition of GPI Prototype & Manufacturing Services (GPI). FATHOM is an existing portfolio company of CORE Industrial Partners.
  • Celtic Capital Corporation has expanded its client development staff
    September 1, 2020
    Celtic Capital Corporation has expanded its client development staff with the addition of Bryan Hatfield and Jonathan Bloom; both Senior Vice Presidents.
  • J.C. Penney lenders could take over company as sale talks sputter
    September 1, 2020
    As sale negotiations stall, attorneys for J.C. Penney said at a hearing Monday that key lenders were "dedicated" to supporting the retailer as an operating entity by converting their debt holdings into equity in a reorganized Penney.
  • Women’s Retailer J. Jill Has 10 Days to Avoid Bankruptcy Filing
    September 1, 2020
    J. Jill Inc. has just 10 days to get permission from the vast majority of its lenders for a deal that would extend the struggling retailer’s debt maturities, excuse it from financial covenants and give it fresh cash.
  • CIT Serves as Joint Lead Arranger on $150 Million Credit Facility for Steven Madden Ltd.
    September 1, 2020
    CIT Group Inc. (NYSE: CIT) today announced that its Asset-Based Lending business, part of the Commercial Finance division, served as joint lead arranger on a $150 million asset-based revolving credit facility for Steven Madden Ltd.
  • Latham & Watkins Advises Xenia Hotels & Resorts in US$1.375 Billion Bank and Bond Transactions
    September 1, 2020
    Latham & Watkins represented Xenia Hotels & Resorts, Inc. in the debut private offering of US$300 million of 6.375% senior secured notes due 2025 by XHR LP, Xenia’s operating subsidiary. Xenia, a REIT that invests primarily in uniquely positioned luxury and upper upscale hotels and resorts, owns 39 hotels across 16 US states.
  • Leonovus Inc. Announces a $445,000 Bridge Loan
    September 1, 2020
    Leonovus Inc., (“Leonovus” or the “Company”) (TSXV: LTV) announces that it plans to enter into a loan agreement with eleven shareholders, including two directors, (the “Lenders”) for a secured loan in the principal amount of up to CAD$445,000 (the “Loan”).
  • SBALenders.com completes study of Covid impact on SBA lender activity during Q2
    August 31, 2020
    To ascertain the impact that Covid has had on lending to small businesses in America, SBAlenders.com conducted a study of SBA loan activity by analyzing data provided by the Small Business Administration (SBA). SBA loans, which are designed to be attractive for borrowers who cannot easily obtain a traditional commercial loan, have plummeted in the second quarter of 2020.
  • RadNet Expands its Revolving Credit Facility to $195 million
    August 31, 2020
    RadNet, Inc. (NASDAQ: RDNT), a national leader in providing high-quality, cost-effective, fixed-site outpatient diagnostic imaging services through a network of 332 owned and/or operated outpatient imaging centers, today announced the amendment of its senior secured first lien credit agreement to increase the amount of the revolving commitments thereunder by $57.5 million.
  • Heritage Global Inc. Announces New Head of Heritage Global Valuations
    August 31, 2020
    Heritage Global Inc. (NASDAQ: HGBL) (“Heritage Global,” “HGI” or “the Company”), an asset services company specializing in financial and capital assets, today announced that Michael Goldstein has been promoted to Executive Managing Director, Head of Heritage Global Valuations (“HGV”), a division of Heritage Global Partners and a leading asset liquidation and appraisal firm.
  • King Trade Capital Provides $6 Million PO Finance Facility for Personal Hygiene Company
    August 31, 2020
    King Trade Capital is pleased to provide financing to a California-based company that sells hand sanitizer and sanitizing wipes.
  • Celtic Capital Corporation Announces New Client Relationship
    August 31, 2020
    Celtic Capital Corporation today announced its most recent new client relationship – a California-based distributor and fabricator of sheet metal products and industrial supplies.
  • Weatherford Completes Financing Transactions
    August 31, 2020
    Weatherford International (collectively with certain of its subsidiaries, "Weatherford" or the "Company") today announced that it has refinanced its senior secured asset-based lending agreement (the "ABL Credit Agreement") through the issuance of $500 million of senior secured first lien notes.
  • Stonebriar Commercial Finance Promotes Smith, And Adds Carter
    August 31, 2020
    Stonebriar Commercial Finance is pleased to announce the promotion of Harrison P. Smith to Vice President, Credit Manager.
  • Le Tote and Lord & Taylor Announce the Commencement of Going out of Business Sales at all of Their Iconic Stores
    August 28, 2020
    Le Tote, Inc. and Lord & Taylor LLC (together with their respective subsidiaries, the “Company”), will commence Going Out of Busines Sales shortly at the historic brands’ 38 iconic stores and on www.lordandtaylor.com. Kirkland & Ellis LLP is acting as legal advisor to the Company and Berkeley Research Group, LLC is acting as restructuring advisor. Nfluence Partners is acting as the Company’s investment banker and a joint venture of Hilco Merchant Resources and Gordon Brothers are managing the Company’s store closing sales.
  • Nutanix Announces $750 Million Investment From Bain Capital Private Equity to Support Growth Initiatives
    August 28, 2020
    Nutanix (NASDAQ: NTNX), a leader in enterprise cloud computing, today announced that Bain Capital Private Equity will make an investment of $750 million in Convertible Senior Notes to support the Company’s growth initiatives.
  • Fortress Biotech Announces $60 Million Loan Agreement with Oaktree Capital Management
    August 28, 2020
    Fortress Biotech, Inc. (NASDAQ: FBIO) (“Fortress”), an innovative revenue-generating company focused on acquiring, developing and commercializing or monetizing promising biopharmaceutical products and product candidates cost-effectively, today announced that it has entered into a $60 million loan agreement with funds managed by Oaktree Capital Management, L.P. (“Oaktree”), a leading global investment firm (the “Agreement”). The company expects the proceeds from the five-year loan will be used to refinance existing indebtedness. The loan will mature in August 2025.
  • King Trade Capital Provides $6 Million PO Finance Facility for Personal Hygiene Company
    August 28, 2020
    King Trade Capital is pleased to provide financing to a California-based company that sells hand sanitizer and sanitizing wipes. Beginning in February, KTC underwrote and began providing PO financing for the import of hand sanitizer allowing the client to deliver an additional $40 million in sales to Walgreens, CVS and other stores during the peak of the Covid 19 pandemic.
  • Tradewind Finance Closes $15 Million Credit Facility for Manufacturer Headquartered in Europe
    August 27, 2020
    Tradewind Finance has provided a $15 million credit facility to a 75-year-old manufacturer headquartered in Europe with a subsidiary in the USA. The supply chain finance company is an industry leader in international trade financing. The client sells globally and is using the facility to support 120-day open account payment terms.
  • Medical Fish Skin Company Kerecis Secures USD 21 Million Financing
    August 27, 2020
    Kerecis Limited, a regenerative-medicine biologics company, has secured $21 million in new financing. Silicon Valley Bank is providing a revolving line of credit of up to $15 million to meet the company’s near-term working-capital needs. Also, the company’s leading investors and other lenders have provided the company with $6 million in loans that largely consist of convertible notes. The funding will be used to support the company’s expansion plans in the U.S. Kerecis closed a $16 million Series C equity financing in April 2019.
  • Crestmark Equipment Finance Featured on Monitor 100 List of Top Equipment Finance and Leasing Companies
    August 27, 2020
    Crestmark is pleased to announce that its equipment leasing and finance group has been recognized by the Monitor, a leading publication of the equipment leasing and finance industry, in its annual rankings of top equipment leasing and finance companies in the U.S. Now in its 29th year, Monitor 100 ranks Crestmark Equipment Finance at No. 69 in net assets, up from No. 70 the previous year; and No. 65 in new business volume, up from No. 68. According to the Monitor 100, Crestmark Equipment Finance’s net assets grew by 15.1 percent from 2018 to 2019, and new business volume grew by 45.9 percent.
  • MidFirst Business Credit Announces New Lending Relationship with Ullman Oil Company, LLC
    August 27, 2020
    MidFirst Business Credit (MFBC) announced it has provided $12.2 million in working capital and term-loan facilities to Ullman Oil Company, LLC. Ullman, located in Chagrin Falls, Ohio, is a full-service, value-added supplier and distributor of gasoline, diesel fuel, biodiesel, home heating oil and lubricants. The funds were used to refinance the payoff to an existing lender, provide working capital and help facilitate further business expansion. The transaction was completed on August 5, 2020.
  • Monroe Capital Closes $406.27 Million Collateralized Loan Obligation Transaction
    August 27, 2020
    Monroe Capital LLC (“Monroe”) today announced the closing of a $406.27 million term debt securitization known as Monroe Capital MML CLO X, LTD. The term financing was Monroe’s fifth CLO completed since March 2018 and is secured by a portfolio of middle market senior secured loans.
  • MUFG Sees Strong Rebound in North American Project Finance Led by Renewables, with Swelling Infrastructure Funds
    August 27, 2020
    Project finance in the United States has staged a vigorous recovery— aided by the ability of banks to provide liquidity, low funding costs, and a more liquid bond market—since the initial dampening effect of the COVID-19 pandemic, according to the Project Finance team at Mitsubishi UFJ Financial Group (MUFG). The team delivered its remarks at a virtual MUFG media roundtable last week to discuss the current state of project finance with reporters and editors. The roundtable featured Erik Codrington, Head of Project Finance in the Americas; Nanda Kamat, Head of Americas Infrastructure; Alex Wernberg, Head of U.S. Power; and Ralph Scholtz, Head of Project Finance in Latin America.
  • CIT Leads $266 Million Financing for Prospero 2 Solar Project
    August 27, 2020
    CIT Group Inc. (NYSE: CIT) today announced that its Power and Energy business served as coordinating lead arranger on a $266 million financing for Longroad Energy's 331-megawatt Prospero 2 solar project in Andrews County, Texas. A leader in renewable energy project development, operation and services, Longroad Energy owns over 1.4 gigawatts of wind and solar projects either in operation or construction across the U.S.
  • Sovos Brands to Acquire Birch Benders
    August 27, 2020
    Sovos Brands ("Sovos"), a food company backed by global private equity firm Advent International, today announced that it has signed an agreement to acquire the business of Birch Benders, LLC ("Birch Benders"), a fast-growing producer of delicious, better-for-you Pancake and Waffle Mixes, Toaster Waffles, and Pancake and Baking Cups. The acquisition deepens Sovos Brands' role in the breakfast and snacking categories and represents a significant step in the company's mission to acquire and build one-of-a-kind brands that bring consumers delicious food for joyful living. The transaction is expected to be completed by the end of October. Piper Sandler is serving as financial advisor and Haynes and Boone LLP is serving as legal advisor to Birch Benders on the transaction. Weil, Gotshal & Manges is serving as legal advisor to Sovos Brands.
  • Bell Bank Rapidly Expanding in Phoenix
    August 27, 2020
    Bell’s newest group of bankers to join our team in Phoenix will help guide commercial lending and deposit growth at Bell’s current and upcoming Arizona locations. (Watch our website and social channels for more info!) Kyle Kennedy, Bell’s Phoenix president and Arizona banking director, announced that Adam Christensen has been named senior vice president (SVP)/commercial banking manager and Gerald Deetz has been named SVP/commercial sales manager in the Phoenix market. They are joined on the commercial leadership team by Heidi Marshall, Kevin Herbst and Ben Allen.
  • Jason Industries Announces Confirmation of Plan of Reorganization
    August 27, 2020
    Jason Industries (“Jason” or the “Company”) today announced that the United States Bankruptcy Court for the Southern District of New York has confirmed the Company’s Plan of Reorganization (the “Plan”), clearing the way for Jason to successfully complete its Chapter 11 financial restructuring and emerge in the coming days.
  • Provident Strengthens Leadership Team With Key Appointments
    August 27, 2020
    Anthony Labozzetta has been appointed to the position of President and Chief Operating Officer. Vito Giannola has been appointed to the position of Executive Vice President and Chief Retail Banking Officer. George Lista will continue in his role as President of SB One Insurance Agency, Inc., a wholly-owned subsidiary of Provident Financial Services. Josephine Moran has been appointed Executive Vice President, Chief Corporate Services & Consumer Lending Officer
  • Second-Quarter Middle Market Indicator Reveals Increased Perception of Risk, Dips in Revenue and Employment Growth
    August 26, 2020
    Chubb, National Center for the Middle Market survey shows diminished outlook due to prolonged pandemic, provides insights on the business impact and risk implications of COVID-19 on this segment
  • FDIC-Insured Institutions Reported Lower Profitability but Strong Liquidity and Higher Capital Levels in Second Quarter 2020
    August 26, 2020
    Aggregate Quarterly Net Income Declined Due to Continued Economic Uncertainty Net Interest Margin Compressed at Record Rate Deposits Expanded by More Than $1 Trillion for Second Consecutive Quarter Deposit Insurance Fund Increased to Record $114.7 Billion, while Reserve Ratio Falls to 1.30 Percent Due to Inflow of Deposits Community Banks Registered a 3.2 Percent Increase in Net Income Year Over Year
  • Oxford Finance Provides Credit Facility to Brain Injury Rehab Provider ReMed Holdings, LLC
    August 26, 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 term loan and revolving line of credit to ReMed Holdings, LLC ("ReMed" or "the Company"), a leading provider of rehab services to patients with post-acute acquired brain injuries ("ABIs").
  • Micron Solutions, Inc. Enters Sale-Leaseback Agreement
    August 26, 2020
    Micron Solutions, Inc. (OTCQB: MICR) (the “Company”), a diversified contract manufacturing organization, through its wholly-owned subsidiary, Micron Products, Inc., producing highly-engineered, innovative components and assemblies requiring precision machining and injection molding, announced entry into a purchase and sale agreement for the sale and leaseback of its main manufacturing facility.
  • TAB Bank Provides Manufacturing Company in North Carolina with a $4 Million Revolving Credit Facility
    August 26, 2020
    TAB Bank is pleased to announce it has provided a $4 million asset-based revolving credit facility for manufacturing company based in North Carolina. The new facility is extended through a multi-year agreement and will provide for the ongoing working capital needs for the company. In addition to the revolving credit facility, TAB Bank also provided the company with a $200 thousand M&E term loan and a $1 million commercial real estate loan.
  • Prestige Capital Announces a Participation of $1,500,000
    August 26, 2020
    Continuing its commitment to help during the pandemic, Prestige Capital Finance, LLC recently participated in funding for a nondurable goods distributor based in Rhode Island. Prestige provided $1.5 million to this New England company as part of a carve out of certain customers from its existing bank. The proceeds of the funding were used to purchase additional inventory to service a growing list of retailers, including a Fortune 100 chain.
  • The Interface Financial Group Closes AUD$10,000,000 Revolving Open Ledger Invoice Finance Facility for Energy Company in South Australia
    August 26, 2020
    The Interface Financial Group (“IFG”) announced the closing and funding of a AUD$10,000,000 Open Ledger invoice finance facility for a Zen Energy, operating in South Australia. The proceeds are being used to assist with their demerger from SIMEC Zen Energy Group and to finance further growth. ZEN Energy offers renewable energy solutions to businesses & residents around Australia.
  • J.Crew Expects to Emerge From Bankruptcy Early Next Month
    August 25, 2020
    J.Crew Group Inc said on Tuesday it expects to emerge from Chapter 11 in early September, after a bankruptcy court accepted its restructuring plan. The plan, approved by a Virginia federal court, will equitize over $1.6 billion of secured debt, and provide for $400 million in asset-based loan as well as $400 million of fresh financial aid.
  • Oxford Finance Announces $10 Million Credit Facility with Inhibrx, Inc.
    August 25, 2020
    Oxford Finance LLC ("Oxford"), a specialty finance firm that provides senior debt to life sciences and healthcare services companies worldwide, has announced that on July 15, 2020, it closed a $10 million senior secured term loan with Inhibrx, Inc. (or "the Company") (Nasdaq: INBX), a clinical-stage biotechnology company focused on developing a broad pipeline of novel biologic therapeutic candidates. The funds, which were secured prior to the Company's recent initial public offering, will provide general growth capital as Inhibrx aims to evolve into a commercial-stage biotechnology company.
  • Liberty Media Announces Amendments to Braves Financial Covenants
    August 25, 2020
    The debt agreements governing $297 million of debt at Braves Stadium Company, LLC (collectively the “Ballpark funding”) have been amended such that the applicable financial covenants will not apply until the quarter ending September 30, 2021, subject to certain conditions being met.
  • Cequence Energy Announces Proposed Plan of Compromise and Arrangement and Meeting of Creditors
    August 25, 2020
    Cequence Energy Ltd. (“Cequence” or “the Company“) announces a recapitalization transaction (the “Restructuring Transaction”), to be implemented as a plan of compromise and arrangement (the “Plan”) under the Companies’ Creditors Arrangement Act (“CCAA”) that will allow Cequence to reduce its debt and interest costs and improve liquidity to fund future operations. In connection with the Plan, Cequence has entered into a restructuring support agreement (the “Support Agreement”) with certain lenders under the Company’s second lien senior secured $50.0 million term loan facility due October 3, 2023
  • 1st Commercial Credit Expands Texas Territory
    August 25, 2020
    1st Commercial Credit, LLC is an Austin, Texas-based factoring company servicing all of the United States and has recently expanded its sales territory with sales offices in Dallas, Houston and San Antonio Texas.
  • First Bank & Trust Company Announces Management Changes in Wise County
    August 25, 2020
    Melissa Coffey has been appointed as Assistant Vice President and Branch Manager of the Wise and Norton, Virginia offices. Coffey is a 2006 graduate of the University of South Carolina. She has 14 years of banking experience, and has been with First Bank & Trust Company for nine years. Coffey began her work with First Bank & Trust Company in Norton, Virginia as lender, then in 2017 assumed the role of Branch Manager of the Norton office where she spent much of her lending focus on residential real estate and consumer lending.
  • FTS International Announces Agreement With Majority of Its Secured Debtholders on Restructuring Support Agreement to Convert Over $400 Million of Debt to Equity
    August 25, 2020
    FTS International, Inc. (NYSE American: FTSI) (“FTSI” or the “Company”) today announced that it has entered into a restructuring support agreement (the “Agreement”) with approximately 75 percent of the holders of the Company’s 6.250% senior secured notes due 2022 (the “Secured Notes”) and approximately 64 percent of the Company’s secured debt claims. The Agreement outlines a comprehensive restructuring that will deleverage the Company’s balance sheet by $437.3 million and provide it with the financial flexibility to deliver results-oriented and innovative well completion solutions to its customers. Importantly, the Agreement contemplates that the Company’s vendors, suppliers, and customers will remain unaffected by the transaction.
  • Austin Financial Services Hires Chief Credit Officer to Bolster its Strength in Credit & Portfolio
    August 25, 2020
    Austin Financial Services, Inc. (AFS) is pleased to welcome Joe Curdy as its new Senior Vice President and Chief Risk Officer. In this role, Curdy will work alongside senior management and be responsible for managing asset quality & financial risk to ensure it continues to meet the organization's high credit standards and growth goals.
  • Citizens Advises OSG on its Divestiture of AppRev to Centauri Health Solutions
    August 25, 2020
    Citizens M&A Advisory served as the exclusive financial advisor to OSG, an Aquiline Capital Partners portfolio company, on its divestiture of Applied Revenue Analytics ("AppRev"), a provider of revenue cycle optimization and revenue integrity solutions. AppRev was acquired by Centauri Health Solutions, a healthcare technology and services provider and portfolio company of Abry Partners.
  • Rosenthal Provides $1.5 Million PO Finance Facility for Wisconsin-based Apparel Company
    August 25, 2020
    Rosenthal & Rosenthal, Inc., today announced the completion of a recent purchase order finance facility to support the production financing requirements of a Wisconsin based apparel company that imports licensed casual wear.
  • Pyxus International, Inc. Successfully Completes Financial Restructuring
    August 24, 2020
    Pyxus International, Inc. ("Pyxus" or "the Company"), a global value-added agricultural company, announced today that the Amended Joint Prepackaged Chapter 11 Plan of Reorganization of Pyxus International, Inc. and Its Affiliated Debtors (the "Plan") confirmed by the United States Bankruptcy Court for the District of Delaware on August 21, 2020 has become effective. As a result, Pyxus has successfully completed its financial restructuring and emerged from Chapter 11 with its debt reduced by more than $400 million and maturities extended. Simpson Thacher & Bartlett LLP served as legal counsel, and Lazard and RPA Advisors served as financial advisors to Pyxus.
  • FTS International Announces Agreement With Majority of Its Secured Debtholders on Restructuring Support Agreement to Convert Over $400 Million of Debt to Equity
    August 24, 2020
    Kirkland & Ellis LLP and Winston & Strawn LLP are acting as legal counsel, Lazard is acting as financial advisor, and Alvarez & Marsal LLP is acting as restructuring advisor to the Company in connection with the restructuring. Davis Polk & Wardwell LLP is acting as legal counsel and Ducera Partners LLC and Silver Foundry, LP are acting as financial advisors to an ad hoc group of Secured Noteholders and consenting creditors.
  • Independent Bank Corporation Announces Hiring of New Chief Financial Officer
    August 24, 2020
    Independent Bank Corporation (NASDAQ: IBCP), the holding company of Independent Bank, a Michigan-based community bank, announced that Gavin A. Mohr has been hired as the organization’s new Chief Financial Officer, commencing September 14, 2020. Previously, IBCP announced on June 23, 2020, that Robert Shuster, the current Executive Vice President and Chief Financial Officer of the Corporation and the Bank, had returned on an interim basis following his previous retirement on January 31, 2020. Mr. Shuster will remain with the organization as a Senior Financial Executive until approximately October 31, 2020 to assist Mr. Mohr with his transition.
  • KB US Holdings, Inc. Announces Acceptance of Stalking Horse Bid to Close Sale in Next 60 Days
    August 24, 2020
    Secures Commitment for $20 million in Debtor-in-Possession Financing Voluntarily Commences Chapter 11 Proceedings in the U.S. Bankruptcy Court for the Southern District of New York to Facilitate Sale Kings Food Markets and Balducci's Food Lover's Market to Operate Business as Usual During Sale Process
  • Wellfleet Credit Partners Completes Thirteenth CLO Offering Assets Under Management Totaling $5.4 Billion
    August 24, 2020
    Wellfleet Credit Partners (“Wellfleet”), the performing credit business of Littlejohn & Co., LLC, today announced the closing of Wellfleet CLO 2020-2, a $396.0 million collateralized loan obligation (CLO). Following the issuance of Wellfleet CLO 2020-2, Wellfleet has approximately $5.4 billion in assets under management across thirteen CLOs. Credit Suisse Securities (USA) LLC acted as the arranger for the CLO. Milbank LLP acted as legal advisor to Wellfleet.
  • Enterprise Financial Services Corp to Acquire Seacoast Commerce Banc Holdings
    August 24, 2020
    Enterprise Financial Services Corp (Nasdaq: EFSC) (the “Company,” “EFSC,” “Enterprise,” “we,” “us,” or “our”), the holding company of Enterprise Bank & Trust (“EB&T”), and Seacoast Commerce Banc Holdings (OTCPK: SCBH) ("SCBH"), the holding company of Seacoast Commerce Bank (“Seacoast”), announced today that EFSC, EB&T, SCBH and Seacoast have entered into a definitive merger agreement in a transaction valued at approximately $156 million, or $15.80 per SCBH share, based on the closing price of EFSC’s common stock on August 19, 2020.
  • Novaturas Group Agreed on EUR 1 Million Long-term Loan so the Refunds for Cancelled Trips Could be Fulfilled Faster
    August 24, 2020
    The leading tour operator in the Baltic States Novaturas Group has agreed on a EUR 1 million long-term loan received under the Ministry of the Economy and Innovation of the Republic of Lithuania and state investment and business guarantee fund Invega. The Company intends to use it to refund cancelled trips due to pandemic.
  • Crestmark Provides More Than $47 Million in Commercial Financing to 108 Businesses in the First Half of August
    August 24, 2020
    Crestmark secured a total of $6,500,000 in ABL financial solutions for four new clients; Crestmark Equipment Finance provided $524,700 in one new lease transaction; Crestmark Vendor Finance provided $8,165,144 in 96 new lease transactions; and the Government Guaranteed Lending group provided $31,820,200 in financing for seven new clients in the first half of August.
  • Business Capital (BizCap®) Adds Senior Executive to Team
    August 24, 2020
    Business Capital (BizCap®), a leading commercial finance and advisory firm, is expanding its team with the recent addition of David Schubel as a Vice President of Originations. He will be based in Texas and responsible for developing and managing new business opportunities in the Southwest region, working with our capital markets and credit teams, partners and clients to structure and deploy commercial financing and restructuring solutions for mid-sized businesses.
  • Gibraltar Thinks Outside the Box to Provide Flexibility to Company Affected By COVID-19
    August 24, 2020
    The 2020 pandemic has created financial stress for many businesses throughout the country. Many of these are well-run companies challenged by forces beyond their control. During exceptional times, bank lending restrictions and standard loan structuring methodologies may not provide enough flexibility for companies. Gibraltar prides itself on understanding the situations our clients face and creating flexible financing structures to meet their challenges head on. This enabled us recently to provide Ditto Sales Inc. with a $4 million asset-based loan to help them manage through obstacles faced by their business.
  • Amerisource Closes $5,500,000 Revolving Line/Equipment Term Loan Facility for Manufacturer
    August 24, 2020
    Amerisource Business Capital announced the closing and funding of a $5,500,000 credit facility for a metal stamping firm based in Ohio. The proceeds are being used to refinance their existing bank debt.
  • UMH Properties, Inc. Announces Credit Facility
    August 24, 2020
    UMH Properties, Inc. (NYSE: UMH) today announced that it has successfully completed the financing of 28 of its unencumbered communities, containing approximately 4,100 sites, through Wells Fargo Bank, N. A. for total proceeds of approximately $106 million. This Federal National Mortgage Association (Fannie Mae) credit facility has a 10-year maturity with a 30-year amortization schedule. Interest is at a fixed rate of 2.62%. The proceeds will be used to redeem our 8% Series B Perpetual Preferred Stock and to also invest in additional acquisitions, expansions and rental homes further enhancing our ability to provide quality affordable housing in the markets that we serve.
  • CBL Properties Enters Into Restructuring Support Agreement With Noteholders to Significantly Strengthen Its Capital Structure
    August 24, 2020
    CBL Properties (NYSE:CBL) today announced that the Company has entered into a Restructuring Support Agreement (the “RSA”) with certain beneficial owners and/or investment advisors or managers of discretionary funds, accounts, or other entities (the “noteholders”) representing in excess of 57% of the aggregate principal amount of the Operating Partnership’s 5.25% senior unsecured notes due 2023 (the “2023 Notes”), the Operating Partnership’s 4.60% senior unsecured notes due 2024 (the “2024 Notes”) and the Operating Partnership’s 5.95% senior unsecured notes due 2026 (the “2026 Notes” and together with the 2023 Notes and the 2024 Notes, the “Unsecured Notes”).
  • Wolters Kluwer Podcast Series Launched to Educate Lenders Navigating COVID-19 Impacts
    August 24, 2020
    Expert insights help lenders manage regulatory, operational challenges brought about by the pandemic.
  • Frontier Communications Restructuring Plan Confirmed by Court
    August 24, 2020
    Frontier Communications Corporation (OTCMKTS: FTRCQ) (“Frontier” or the “Company”) today announced that the U.S. Bankruptcy Court for the Southern District of New York has confirmed the Company’s Plan of Reorganization (the “Plan”), subject to final documentation. Upon emergence, the Company will have reduced its total outstanding indebtedness by more than $10 billion and have achieved significant financial flexibility to support continued investment in its long-term growth. The Company expects to complete its restructuring and successfully emerge from Chapter 11, following the completion of the regulatory approval process.
  • 1-800-FLOWERS.COM, Inc. Amends Credit Agreement
    August 24, 2020
    1-800-FLOWERS.COM, Inc. a leading ecommerce provider of products and services designed to inspire more human expression, connection and celebration, today reported entering into a First Amendment (the “Amendment”) to its Existing Credit Agreement (as defined below) on August 20, 2020 with its existing syndicate of banks led by JPMorgan Chase Bank, N.A., as a lead arranger and bookrunner.
  • Marco Capital, Inc. Grows its Business Development Team
    August 24, 2020
    Marco Capital Inc., a Miami, Florida-based trade finance specialist, focusing on cross-border transactions in Latin and South America, continues to grow its executive team. Immediately following the Labor Day weekend, Barry Kastner will assume the role of Executive Vice President and Senior Managing Director. He will use his well-established industry knowledge and associations to lead the Business Development efforts and will be responsible for building key, strategic relationships in the US and Canada.
  • Advanced Green Innovations Announces Completion of Successful Restructuring - Emerging as PROTEUM ENERGY, LLC
    August 20, 2020
    Advanced Green Innovations, LLC and its subsidiaries ZHRO Power, LLC and ZHRO Solutions, LLC ("AGI/ZHRO") emerged from restructuring proceedings as Proteum Energy, LLC, the developer of leading-edge patented technology in the oil and gas industry to produce low cost hydrogen, pipeline quality methane, and designer fuels from flare and residual gases.
  • Bombardier Announces Closing of Senior Secured Credit Facility
    August 20, 2020
    The Facility will have a minimum utilization of $750 million and a term of three years. Bombardier will have the right to voluntarily prepay the outstanding amount of the Facility. In addition, the completion of the sale of Bombardier Transportation will require Bombardier to make an offer to repay 50% of the then outstanding principal amount of the Facility.
  • LBC Credit Partners Provides Senior Secured Term Loan Facility to Support the Acquisition of Simply Natural Foods
    August 20, 2020
    LBC Credit Partners (“LBC”), one of the leading providers of financing solutions to middle market companies, provided a senior secured term loan facility, as part of a $115 million senior secured credit facility, to AOG, LLC d/b/a TruFood Manufacturing (“TruFood”), a portfolio company of AUA Private Equity Partners, to support the acquisition of Simply Natural Foods (“Simply Natural” or the “Company”).
  • Sallyport Commercial Finance Helps an Oil & Gas Service Company Diversify Their Business with a $500,000 Credit Facility
    August 20, 2020
    Sallyport Commercial Finance arranges a $500,000 accounts receivable facility to a servicing company in the energy sector that pivoted the business to include green energy with inspection and servicing agreements on wind turbines. As the oil prices dropped and Covid-19 halted the economy, the owners proactively moved into a new market with growing demands.
  • Huntington Business Credit Closes Credit Facilities with Onodi Tool & Engineering Company
    August 20, 2020
    Huntington Business Credit announced it closed new $6,500,000 credit facilities with Onodi Tool & Engineering Company on July 31, 2020. Proceeds of the facilities were used to partially finance the acquisition of the company by Covington Capital and provide ongoing working capital growth financing. Covington Capital is a Troy, Michigan based private equity firm.
  • American Express to Acquire Kabbage
    August 20, 2020
    American Express (NYSE: AXP) today announced that it has entered into an agreement to acquire substantially all of Kabbage, a leading financial technology company providing cash flow management solutions to small businesses in the U.S. The transaction represents an important step toward American Express’ goal of being an essential partner to small businesses through a broad range of payment, cash flow and financial management tools.
  • Valaris, the World’s Largest Offshore Driller, Files for Chapter 11 Bankruptcy
    August 20, 2020
    The firm follows the likes of rivals Noble Drillng and Diamond Offshore into the US-style bankruptcy process. Chapter 11 allows firms to continue trading while restructuring their debt – a move that helicopter firm Bristow has recently carried out.
  • Aaron Dever Joins First Business Growth Funding as Vice President – Business Development Officer
    August 20, 2020
    First Business Growth Funding, the accounts receivable financing arm of First Business Financial Services, Inc., today announced that Aaron Dever has been hired as Vice President – Business Development Officer. Aaron has spent his entire career in consumer and commercial finance, with the last 24 years in accounts receivable finance and asset-based lending. At First Business, Aaron is responsible for sourcing accounts receivable finance transactions throughout the southeastern U.S. and nationwide.
  • Hilco Redevelopment Partners’ Proposed Development Plans will Generate Tens of Thousands of New Jobs at the Former PES Refinery Site
    August 19, 2020
    A recently completed economic impact study of Hilco Redevelopment Partners’ (HRP) proposed redevelopment of the closed former Philadelphia Energy Solutions (PES) refinery in South Philadelphia is projecting significant job creation and a positive economic impact to the city and region. HRP, the real estate development unit of Hilco Global, remediates and redevelops complex and obsolete industrial properties in cities nationwide.
  • Stonebriar’s Seventh Securitization Transaction Is Met With Strong Demand
    August 19, 2020
    Stonebriar Commercial Finance (“Stonebriar”), a large-ticket independent diversified commercial finance & leasing company, announced that it has closed its seventh commercial equipment asset-backed securitization (“ABS”), SCFET 2020-1, a $572 million ABS issuance with top tranches achieving the highest possible short-term and long-term ratings from Moody’s Investors Service (“Moody’s”) and Kroll Bond Ratings Inc. (“Kroll”).
  • U.S. Bank Outlines Details of $15 Million Rebuild and Transform Fund
    August 19, 2020
    The U.S. Bank Foundation fund supports leaders of color and addresses inequities, with initial $5 million going toward Twin Cities.
  • CIVC Partners Announces Investment in iVision
    August 19, 2020
    CIVC Partners, L.P. ("CIVC"), a Chicago-based middle market private equity firm focused on investments in business services industries, is pleased to announce the firm's investment in iVision (the "Company"), in partnership with Gabe Damiani, David Degitz and the rest of the existing management team.
  • Bank of America Names Ted Janicki Buffalo Market President
    August 19, 2020
    As market president, Janicki will be responsible for connecting the banking and investment resources offered through our eight lines of business to companies, families and individuals across Erie and Niagara counties. He will also lead the effort to deploy Bank of America’s resources to address social concerns, strengthen economic opportunity, and build strong communities, as well as support the health, safety and engagement of local teammates.
  • CapX Partners Announces $6MM Equipment Lease to Manufacturer
    August 19, 2020
    CapX Partners (CapX), a leading middle-market equipment finance provider, announced the completion of a $6 million true lease transaction to a well-established manufacturing company for a critical upgrade to its plant in the Northeast U.S. A trusted Capital Markets partner presented the transaction to CapX as a critical tranche for a $38 million plant upgrade.
  • California Bank of Commerce Adds Veteran Bankers to Growing Team
    August 19, 2020
    California Bank of Commerce (CBC) has added veteran bankers Ryan Mauser and Dana Swanson to its growing team. Mauser is based out of the bank’s East Bay office, while Swanson is serving CBC clients in the Sacramento Region. Ryan Mauser joined CBC as Senior Vice President and Relationship Manager following 17 years of commercial banking experience with Bank of the West, Comerica Bank and most recently Bridge Bank. Dana Swanson brings more than 14 years of experience to her role as Senior Vice President and Relationship Manager.
  • Barb Godin Retiring from Regions Bank after 45-year Career in Financial Services
    August 19, 2020
    Regions Bank today announced that Barb Godin, deputy chief risk officer and chief credit officer, will retire from Regions at the end of 2020. Godin’s retirement follows a successful 45-year career in the financial services industry. She joined Regions in 2003 as a consumer credit executive and has played a significant role in strengthening the bank’s credit culture and providing valuable leadership in credit policy, credit administration and problem asset management.
  • Paul, Weiss Adds Notable Securitization Partner
    August 19, 2020
    Paul, Weiss, Rifkind, Wharton & Garrison LLP announced today that Charles Pesant is joining the firm as a partner in the Corporate Department and the Securitization Practice Group, resident in the New York office. Mr. Pesant focuses his practice on highly complex domestic and cross-border structured finance deals.
  • Concord Raises Another $600 Million Via J.P. Morgan-placed Debt Offering
    August 19, 2020
    Proceeds from the new debt will be used to partially pay down Concord’s revolving credit facility, allowing for significant additional capital availability for future acquisitions and working capital. The $600m term loan B offering was placed with 90 investment firms by J.P. Morgan. It was upsized from an initially proposed $400m issuance due to more than 6-times oversubscription. The new raise makes Concord one of the best-funded parties in the burgeoning music M&A sector, where its rivals include the likes of Hipgnosis Songs Fund, Downtown, Primary Wave, Round Hill, Kobalt Capital, Tempo Music Investments and Reservoir.
  • ING Leads $235 Million Expanded Syndicated Financing for Precious Metals Merchant Auramet
    August 19, 2020
    ING Capital LLC ("ING") led a $235 million syndicated financing on behalf of Auramet Trading and Auramet International (collectively, "Auramet"), a well-regarded precious metals merchant. The deal closed on August 7, 2020. ING acted as Mandated Lead Arranger, Bookrunner and Administrative Agent. In addition to ING, the lending group included Rabobank acting as Lead Arranger, Macquarie Bank Limited, Brown Brothers Harriman & Co, Mizuho Bank, Ltd, HSBC Bank USA N.A, Bank of China Bank and Bank Hapoalim. The transaction was strongly oversubscribed and a marked increase over the previous facility of $190 million.
  • Bobby Le Blanc Named President of Onex Corporation, Anthony Munk Appointed Vice Chairman
    August 19, 2020
    Onex Corporation (TSX: ONEX) today announced the promotion of Bobby Le Blanc to President of Onex. Mr. Le Blanc will oversee all of Onex’ business units and become the sole Head of Onex Partners, the firm’s flagship private equity strategy. Mr. Le Blanc’s appointment reflects his decades-long commitment to Onex, his strong reputation among his peers, and his talent as a successful investor with a proven track record of managing teams and driving value creation. Gerry Schwartz will remain Chairman and CEO, with Bobby reporting to him.
  • Real-Time Payments Gaining Traction Among Businesses; Survey from Citizens Commercial Banking finds Nine out of 10 Businesses Interested in new Payment Standard
    August 18, 2020
    Real-time payments (RTP), the emerging standard in U.S. billing and payment processing, continues to gain traction among businesses with nine out of 10 business leaders reporting interest in the network, according to Citizens Commercial Banking’s second annual Real-Time Payments Outlook. The nationwide survey of 252 corporate decision-makers found that only 9 percent currently have no plans to implement RTP, which is the biggest upgrade to the U.S. payments system since the Automated Clearing House (ACH) in 1974.
  • Wisconsin-Based Catalog Printing Powerhouse Arandell Files Chapter 11 Bankruptcy
    August 18, 2020
    Just on the heels of closing its Walton, Ky., printing plant the end of July, Arandell Holdings announced that the printing company, along with all its subsidiaries, voluntarily filed for business reorganization under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware on Aug. 13. According to the Menomonee Falls, Wis.-based catalog printing specialist — which serves U.S. retailers and online merchandisers — Arandell has sufficient liquidity to continue operating its business.
  • Triumph Group Completes Refinancing Transactions
    August 18, 2020
    Triumph Group, Inc. (NYSE: TGI) ("Triumph" or the "Company") today announced the consummation of a series of strategic refinancing transactions, including the closing of its previously announced offering of $700.0 million of its 8.875% senior secured first lien notes due 2024 (the "Notes"), the repayment and termination of its revolving credit facility and amendments to its receivables securitization facility. Triumph Group, Inc. today announced the consummation of a series of strategic refinancing transactions, including the closing of its previously announced offering of $700.0 million of its 8.875% senior secured first lien notes due 2024 (the "Notes"), the repayment and termination of its revolving credit facility and amendments to its receivables securitization facility. The Company raised $688.5 million in net proceeds from the offering, of which $335.6 million was used to repay and retire the loans and other amounts outstanding under its revolving credit facility
  • Middleby Announces Strategic Financing Transactions
    August 18, 2020
    The Middleby Corporation, Inc. (NASDAQ: MIDD; “Middleby” or the “Company”), a leading worldwide manufacturer of equipment for the commercial foodservice, food processing, and residential kitchen industries, today announced that it has commenced a set of strategic financing transactions, including an amendment to its senior credit facility and the launch of a $550 million convertible notes offering. The Company also expects to enter into a related capped call hedge transaction, which will offset potential dilution from the conversion feature of the notes.
  • Nomad Royalty Company Announces Closing of Up to US$75 Million Revolving Credit Facility Français
    August 18, 2020
    Nomad Royalty Company Ltd. ("Nomad" or the "Company") (TSX: NSR) (OTCQX: NSRXF) is pleased to announce, further to its press release dated July 15, 2020, that it has closed its previously announced revolving credit facility ("Facility") for US$50 million with the option to increase to US$75 million, subject to satisfaction of certain conditions.
  • Centric Bank Named to American Banker's Top 200 Community Banks in the U.S. and Independent Banker's 2020 Top Lenders
    August 18, 2020
    Centric Bank, the wholly owned subsidiary of Centric Financial Corporation (OTC: CFCX), has been recognized as one of American Banker's Top 200 Community Banks in the U.S. for the second consecutive year, as well as one of Independent Banker's Top Lenders for 2020. American Banker's annual ranking is a list of publicly traded banks and thrifts with less than $2 billion in assets. The rankings are based on Return on Average Equity (ROAE) over a three-year period. Centric Bank finished in the #92 position, climbing from #106 in the 2019 ranking.
  • Ritchie Bros. Amends and Extends Credit Facilities
    August 18, 2020
    Ritchie Bros. Auctioneers Incorporated is pleased to announce the closing of an amendment and extension of its credit agreement totaling US$630 million with a syndicate of lenders comprising: Multicurrency revolving facilities of up to US$530 Million and, a delayed-draw term loan facility of up to US$100 Million. Bank of America, N.A. and RBC Capital Markets served as Joint Lead Arrangers and Joint Bookrunners. Bank of America, N.A. served as Administrative Agent and the Royal Bank of Canada as Syndication Agent.
  • Prestige Capital Announces Funding of $2,000,000 For a Large Grower of Potted and Indoor Plants
    August 18, 2020
    Plants can boost mood, reduce stress, and improve air quality. That’s why Prestige Capital Finance, LLC is pleased to announce the recent closing of a $2,000,000 factoring arrangement for a California-based plant farm, specializing in potted and indoor blooming plants. The proceeds from the factoring arrangement will be used to help this grower expand its footprint in home centers across the United States.
  • Alvarez & Marsal Launches Financial Restructuring Practice in the Nordics
    August 17, 2020
    Global professional services firm Alvarez & Marsal (A&M) continues to expand its Financial Restructuring capabilities in Europe with the hiring of two new Managing Directors in the Nordics. Jonas Rickardsson has joined as the Head of Financial Restructuring in the region, and Dan Andersson has been appointed to lead the Nordic Operational Restructuring and CRO Services. A&M currently offers Restructuring, Corporate Transformation and Private Equity Services, along with Transaction Advisory and Financial Institutions Advisory Services to Nordic clients from its offices in Stockholm and Oslo.
  • Vida Villanueva Named Executive Vice President and Chief Operating Officer of 1st Capital Bank
    August 17, 2020
    1st Capital Bank (OTC Pink: FISB) Chief Executive Officer Samuel Jimenez announced today that Vida Villanueva has been named Executive Vice President and Chief Operating Officer of the Bank. Ms. Villanueva will serve as a member of the executive leadership team and will be directly responsible for the management of retail branches, central deposit operations, electronic banking, and treasury management, as well as an active participant in the development and execution of the Bank’s operational and strategic initiatives.
  • CB Financial Services, Inc. Announces Appointment of President and Chief Executive Officer
    August 17, 2020
    CB Financial Services, Inc. (NASDAQGM: CBFV), the holding company of Community Bank (the “Bank”) and Exchange Underwriters, Inc., a wholly-owned subsidiary of the Bank, today announced that John H. Montgomery has been appointed to serve as President and Chief Executive Officer of the Company and the Bank effective August 31, 2020, succeeding Barron P. McCune, Jr. who has been serving in an interim capacity since early January. Mr. Montgomery will also serve as a Director of the Company and the Bank.
  • Libbey Outlines Plan to Emerge From Bankruptcy
    August 17, 2020
    The glassmaker has received a term sheet from seven of its lenders to provide $150 million in exit financing, which after fees and repayment of the company’s existing debtor-in-possession financing will provide $75 million of incremental funding for future operations, the company said in a statement. Libbey also expects to replace its $100 million DIP revolving credit facility with a new exit facility with approximately $20 million initially drawn.
  • Shale Driller Chaparral Energy Files for Bankruptcy due to Pandemic Woes
    August 17, 2020
    The company listed both assets and liabilities in the range of $500 million to $1 billion, according to a court filing in the U.S. Bankruptcy Court in Delaware. This is the second time that the company has filed for bankruptcy protection. The last time was during the oil price slump in 2014-16 and it emerged out of it in March 2017.
  • Companies Shift Emerging Tech Investments Amid COVID-19: KPMG Research
    August 17, 2020
    In the immediate wake of COVID-19, Global 2000 companies moved to slash funding for emerging technologies, such as automation, artificial intelligence (AI), blockchain, and 5G, according to new KPMG International research. However, many executives are optimistic emerging technology spending will likely increase in the next 12 months, as enterprises recognize COVID-19 creates a burning platform to accelerate digital transformation and stimulate long-term growth.
  • Hilco Redevelopment Partners Names Stephanie Eggert to new role as Senior Vice President – Operations at Former Refinery Site in Philadelphia
    August 17, 2020
    Hilco Redevelopment Partners (HRP), the real estate development unit of Hilco Global that remediates and redevelops complex and obsolete industrial properties, announced today it has appointed Stephanie Eggert to the newly created position of Senior Vice President - Operations. Eggert, who will report directly to CEO Roberto Perez, joins HRP’s growing Philadelphia team, which is focused on transforming the former Philadelphia Energy Solutions (PES) refinery site into a state-of-the art, multi-modal logistics campus.
  • Commercial Credit Group Inc. Closes $326,962,000 Term ABS (2020-1)
    August 17, 2020
    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 2020-1 transaction). The $326,962,000 financing was placed with a broad group of fixed income investors, representing 28 unique institutions. BMO Capital Markets served as Structuring Agent and Lead Bookrunner for the placement.
  • FSW Funding Promotes Bennett to Operations Manager
    August 17, 2020
    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 Operations Manager. Bennett will oversee the management of the factoring and asset-based lending portfolio.
  • Stenn Closes Trade Finance Program for Indian Importer of Mobile Devices and Accessories
    August 17, 2020
    Stenn recently concluded a seven-figure trade receivables finance program for an Indian importer of mobile devices and accessories from a manufacturer based in Hong Kong. The importer is a global leader in the telecom industry, distributing to manufacturers, operators and retailers.
  • Key Tronic Corporation Closes on New Credit Facility to Aid With Expected Growth
    August 17, 2020
    On August 14, 2020, Key Tronic Corporation (the “Company”) and certain of its domestic subsidiaries entered into a loan and security agreement (the “Loan Agreement”) among the Company, certain domestic subsidiaries (as co-borrowers or guarantors), and Bank of America, N.A., as agent, sole lead arranger, sole bookrunner, and a lender (the “Bank”). The Loan Agreement replaces the Company’s prior amended and restated credit agreement, as amended, with Wells Fargo Bank, N.A and certain other parties (with the related credit facility, the “Prior Credit Facility”). The Loan Agreement provides for a five-year asset-based senior secured revolving credit facility (the “Credit Facility”) of up to $93 million, maturing on August 14, 2025.
  • Apollo Infrastructure Funds Announce Strategic Investment in US Offshore Wind Developer US Wind Inc.
    August 17, 2020
    Apollo Global Management, Inc. (NYSE: APO) (together with its consolidated subsidiaries, “Apollo” or the “Firm”) today announced that certain funds managed by its affiliates (“Apollo Funds”) have made a structured investment in US Wind Inc. (“US Wind”), an offshore wind energy development company. Apollo Funds have committed to invest through convertible debt and equity up to $265 million to acquire an equity stake in US Wind and fund development and construction costs associated with a major offshore wind energy project off the coast of Maryland.
  • SSG Advises Sustainable Restaurant Holdings, Inc. d/b/a Bamboo Sushi in the Sale of Select Assets to an Affiliate of Sortis Holdings, Inc.
    August 17, 2020
    SSG Capital Advisors, LLC (“SSG”) acted as the investment banker to Sustainable Restaurant Holdings, Inc. and Subsidiaries d/b/a Bamboo Sushi (“Bamboo Sushi” or the “Company”) in the sale of select assets to an affiliate of Sortis Holdings, Inc. (“Sortis”). The sale was effectuated through a Chapter 11 Subchapter V Plan utilizing a Section 363 process in the U.S. Bankruptcy Court for the District of Delaware. The transaction closed in July 2020.
  • CohnReznick Wins 2020 TMA Turnaround of the Year Award for Guiding Successful Restructuring and Sale of Coordinated Health to Lehigh Valley Health Network
    August 17, 2020
    CohnReznick LLP, one of the leading advisory, assurance, and tax firms in the United States, today announced that Cynthia Romano and Chris Creger of its Restructuring & Dispute Resolution practice have been awarded the prestigious Turnaround Management Association (TMA) 2020 Turnaround and Transaction of the Year Award. The award recognized their success as Chief Restructuring Officer in the turnaround and sale of Allentown, Pennsylvania-based Coordinated Health (CH). The award was won for the Middle Market category.
  • Wells Fargo Corporate Risk Names New Leaders as Part of an Enhanced, Centralized, and Independent Risk Model
    August 17, 2020
    Wells Fargo & Company (NYSE: WFC) today announced the appointment of six new Corporate Risk leaders as part of its enhanced Risk model to further strengthen the independent oversight of all risk-taking activities and a more comprehensive view of risk across the company. In addition, the company announced that Mike Roemer, the current Chief Compliance Officer, has decided to leave Wells Fargo following a transition period.
  • ABN AMRO to Exit Non-Europe Corporate Banking
    August 17, 2020
    ABN AMRO Bank NV said Wednesday that it plans to exit all non-European corporate banking activities and focus on the Netherlands and northwest Europe, as it reported a swing to net loss for the second quarter of the year after booking a large impairment charge. The Dutch lender said the corporate and institutional banking unit will focus on clients in northwest Europe and clearing while trade and commodity finance activities will be completely discontinued.
  • Capital Southwest Supports Align Capital Partners’ Acquisition of Electronic Transaction Consultants
    August 17, 2020
    Capital Southwest Corporation (announced today that it supported Align Capital Partners’ (“ACP”) recent acquisition of Electronic Transaction Consultants Corporation (“ETC” or the “Company”) from Italian parent company Atlantia SpA with a revolver, first lien term loan and equity co-investment. Capital Southwest led the financing transaction and will act as the sole administrative agent on the credit facility. Main Street Capital Corporation (NYSE: MAIN) and Principal Global Investors, LLC (an affiliate of Principal Financial Group, Nasdaq: PFG) were co-lenders on the term loan and the revolving credit facility.
  • Aeromexico Files DIP Financing Motion
    August 17, 2020
    We previously announced that we were in the process of obtaining additional financing, known as "Debtor-In-Possession (DIP) Financing". Today we obtained, subject to court approval, commitments for a US$1,000 million senior secured superpriority multi-tranche debtor in possession term loan facility (the "DIP Facility") with funds managed by affiliates of Apollo Global Management Inc. (APO). The DIP Facility consists of (i) a senior secured Tranche 1 facility of US$200 million, and (ii) a senior secured Tranche 2 facility of US$800 million. Proceeds from the DIP Facility may only be used for certain permitted expenses, including certain working capital expenses and general corporate purposes, as well as restructuring costs.
  • Amerisource Closes $1,000,000 Credit Facility for Wholesale/ Distribution Firm
    August 17, 2020
    Amerisource Business Capital announced the closing and funding of a $1,000,000 revolving credit facility for an eye care product distributor based in New York. The proceeds are being used to provide working capital and to support significant projected growth.
  • GTCR Promotes Stephen J. Jeschke to Managing Director
    August 17, 2020
    Mr. Jeschke joined GTCR in 2011 and became a Principal in 2016. Since joining GTCR, he has helped lead eight portfolio investments that completed more than 125 acquisitions with combined purchase price of nearly $5 billion. He is currently a Director of Mega Broadband and CommerceHub.
  • Commercial Finance Partners Announces the Closing of a $2,000,000 Asset-based Loan
    August 17, 2020
    Commercial Finance Partners is pleased to announce the closing of a $2,000,000 asset-based loan for a national prescription drug supplier headquartered in Michigan. Commercial Finance Partners is pleased to announce the closing of a $2,000,000 asset-based loan for a national prescription drug supplier headquartered in Michigan. The borrower, faced with restrictive bank covenants, sought out Commercial Finance Partners to provide a solution that would have less restrictions and increased availability for growth.
  • Gordon Brothers Evaluates the PPP and the Impact of its Expiration
    August 17, 2020
    Gordon Brothers, the global advisory, restructuring and investment firm, has released an article that discusses the outcome of the Paycheck Protection Program (PPP), including its impact on individuals, firms and lenders, as well as its aid for sectors most challenged by the COVID-19 pandemic.
  • Stein Mart, Inc. Voluntarily Files Chapter 11 Bankruptcy
    August 13, 2020
    Stein Mart, Inc. (NASDAQ: SMRT) today announced that it and its subsidiaries (collectively, the “Company”) have filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the Middle District of Florida – Jacksonville Division (the “Bankruptcy Court”).
  • PREIT Executes Term Loan and Amendments to Credit Facility Agreements
    August 13, 2020
    PREIT has a primary focus on the ownership and management of differentiated retail shopping malls crafted to fit the dynamic communities they serve. The Company operates properties in 12 states in the eastern U.S. with concentration in the Mid-Atlantic and Greater Philadelphia region. The Company is headquartered in Philadelphia, Pennsylvania.
  • Wolters Kluwer PPP Forgiveness Module Application Processing Underway
    August 13, 2020
    With the Small Business Administration’s (SBA) Loan Forgiveness Portal now live, Wolters Kluwer Compliance Solutions has begun submitting completed borrower loan forgiveness application data directly to the SBA via its TSoftPlus™ PPP Forgiveness Module. The Module was launched in June to help lenders guide small business client recipients of Paycheck Protection Program (PPP) funding in processing online and in-person loan forgiveness applications. The SBA’s Loan Forgiveness Portal went live Monday, August 10.
  • Sterling National Bank Provides $3,500,000 of Working Capital to Dr. Earth, Inc.
    August 13, 2020
    Sterling National Bank's Commercial Services Group provided senior secured credit facilities totaling $3,500,000 to Dr. Earth, Inc. (“Dr. Earth” or the “Company”). The credit facilities will provide working capital to further expand and support the Company’s future projected growth.
  • BTIG Investment Banking Adds Industry Veteran Kimberly Boulmetis as a Managing Director to Its Specialty Finance Unit
    August 13, 2020
    BTIG announced today that Kimberly Boulmetis has joined the firm’s Specialty Finance Investment Banking unit as a Managing Director. Ms. Boulmetis will be based in the firm’s New York office, and will report to Dan Blood, Managing Director and Head of Specialty Finance, at BTIG.
  • Umpqua Bank Releases "Business Resiliency" Survey
    August 13, 2020
    Small, Mid-size Businesses Moving Forward in Face of Unprecedented Economic Disruption. Economic Shifts Underway as Pandemic Accelerates Investments in Tech, Automation, Workplace Transformation
  • Sponsors and Lenders Remain Supportive of Their Portfolio Companies as the Impacts of COVID-19 Persist
    August 13, 2020
    As the initial shockwaves of the global pandemic subside, middle market sponsors and lenders have proven supportive of their portfolio companies as the financial challenges caused as a result of stay-at-home orders began to crystalize, according to analysis from Lincoln International, a leading global investment banking advisory firm, based on its proprietary database of over 2,100 portfolio companies primarily owned by private equity firms with median EBITDA of approximately $30 million.
  • Creditflux Selects Monroe Capital as the 2020 Best U.S. Direct Lending Fund
    August 13, 2020
    Monroe Capital LLC (“Monroe”) was selected as the recipient of the 2020 Best U.S. Direct Lending Fund by Creditflux, a London-based global publication and leading information source for the rapidly evolving market for credit funds and CLOs. The award was presented to the firm’s Monroe Capital Private Credit Fund II LP. This award is given to one direct lending fund each year among all the U.S. direct lending funds. It is the third consecutive year that Monroe has won the Creditflux Best U.S. Direct Lending Fund Award.
  • Seasoned Turnaround Professional Joins Stapleton Group; Mike Bergthold Brings Over 30 Years of Financial Advisory Experience
    August 13, 2020
    Stapleton Group is pleased to announce that Mike Bergthold joined the team as a Managing Director to support increasing demand for the firm’s comprehensive strategic advisory and restructuring services. As one of the largest independent providers of financial advisory and professional fiduciary services in the Western U.S., Stapleton has completed more than 250 engagements exceeding $2 billion in assets since it was founded in 2008.
  • Stein Mart to Close 279 Locations Through Going Out of Business Sales
    August 13, 2020
    After Stein Mart’s Chapter 11 filing, Gordon Brothers, Hilco Merchant Resources, Tiger Capital Group, B. Riley Financial’s Great American Group and SB360 Capital Partners have been assigned to manage the going out of business sale process.
  • Brooks Brothers to Seek Approval of Sale to Authentic Brands Group and SPARC Group for $325 Million
    August 13, 2020
    Brooks Brothers (the “Company”), America’s oldest apparel company, today announced that Authentic Brands Group (“ABG”) and SPARC Group LLC (“SPARC”) (or the “bidders”) were selected as the winning bidders in the Company’s competitive sale process after they increased their offer to $325 million for the vast majority of the Company’s global business operations as a going concern as well as its intellectual property portfolio.
  • Strategic Capital Fund Management Hires Scott Jacobs as Vice President of Acquisitions and Asset Management
    August 13, 2020
    Strategic Capital Fund Management, an alternative investment product sponsor, is announcing that it has expanded its executive leadership team with the hiring of a Vice President of Acquisitions and Asset Management who brings with him extensive experience in commercial real estate investment and business strategy. Scott Jacobs will be instrumental in supporting Strategic Capital Fund Management’s digital infrastructure (data center and wireless telecom infrastructure) acquisition teams. In doing so, he is actively involved in corporate finance strategy, underwriting new opportunities, financial modeling, asset management, asset and fund-level financing, and dispositions.
  • Ralph Kourtjian Joins TAB Bank’s Business Development Team
    August 13, 2020
    TAB Bank is pleased to announce the addition of Ralph Kourtjian (947-465-1703, ralph.kourtjian@tabbank.com) to their business development team as Vice President and Business Development Officer. Ralph will be based in Michigan and will be responsible for sourcing new business opportunities by providing asset-based and factoring working capital facilities to commercial entities in the Upper Midwestern United States with annual revenues of $2 million to $150 million.
  • CIBC Innovation Banking Provides Health Fidelity, Inc. With a US$5.5 Million Growth and Working Capital Financing
    August 13, 2020
    CIBC Innovation Banking is pleased to announce a US$5.5 million debt financing for Health Fidelity, Inc. (“Health Fidelity”), a healthcare technology market leader focused on supporting health plans and hospital systems successfully engaged in risk-sharing arrangements. The company will use the debt capital to accelerate new product delivery to the provider market and expand market development.
  • Horizonte Announces US$325 Million Senior Debt Facility Mandate Executed for the Development of the Araguaia Project
    August 13, 2020
    A syndicate of five international financial institutions, including BNP Paribas (‘BNPP’), ING Capital LLC (‘ING’), Mizuho Bank, Ltd. (‘Mizuho’), Natixis, New York Branch (‘Natixis’), and Société Générale will act as the Mandated Lead Arrangers (‘MLAs’). The formal Mandate follows the signing of a non-binding indicative term sheet (‘Term Sheet’) for an up to US$325 million debt facility (the “Facility").
  • Perry Kalajian Joins Focus Management Group
    August 13, 2020
    Focus Management Group (FMG), a nationwide turnaround and restructuring firm, is excited to announce they have elevated their team with the addition of Perry Kalajian. Perry will serve as a Senior Managing Director to meet the firm’s growing activity levels for its turnaround management team and corporate restructuring services.
  • CapX Partners Announces Completion of $27 Million Equipment Lease Facility
    August 13, 2020
    CapX Partners (CapX), a leading middle-market equipment finance provider, announces the completion of a $27 million equipment lease facility for a rapidly growing, Midwest-based client. The facility supports the acquisition of mission-critical equipment enabling the company to continue on track with its plans for growth.
  • U.S. Colleges and Universities Can Better Adapt to Covid-19 by Taking a Page from Commercial Real Estate, Advises A&G Executive
    August 13, 2020
    Full-court press on lease-renegotiation, sale-leasebacks and structured sales of non-core assets can cut costs and bolster liquidity, writes Jeff Hubbard for University Business.com.
  • Crestmark Provides More Than $86.3 Million in Commercial Financing to 22 Businesses in the Second Half of July
    August 11, 2020
    Crestmark secured a total of $29,152,900 in ABL financial solutions for seven new clients; Crestmark Equipment Finance provided $7,765,608 in five new lease transactions; the Joint Ventures Division provided $4,104,958 in financing to two new clients; and the Government Guaranteed Lending group provided $45,341,886 in financing for nine new clients in the second half of July.
  • Yieldstreet’s New Private Business Credit Funded First Two Deals: $16.7M Supply Chain Finance and $1.5M Custom Model Home Loan
    August 11, 2020
    Yieldstreet Private Business Credit (“PBC”)–PBC (www.yieldstreet.com/private-business-credit-investment), a provider of single and multi-tranche term loans and participations to finance companies, banks, credit funds and private equity-backed companies has closed a $16.7M Supply Chain Financing and a $1.5M Custom Model Home Loan after just recently announcing the launch of the new PBC vertical on June 23, 2020.
  • Stellex Capital Management Opens Detroit Office and Hires Two Executives
    August 11, 2020
    Stellex Capital Management (“Stellex”), a middle market private equity firm with offices in New York and London, announced today that it has opened an office in Ann Arbor, Michigan. The Company also announced the appointment of Shankar Kiru as Managing Director and Andrew P. Arton as Director. They will be based in the Ann Arbor office. The office officially opened on August 1st.
  • Hertz Seeks Bankruptcy Loan After Share Sale Falls Through
    August 11, 2020
    Hertz Global Holdings Inc. is seeking debtor-in-possession financing for its Chapter 11 bankruptcy after its unusual attempt to raise money by selling potentially worthless shares fell through. The rental-car company said in a regulatory filing Monday it is looking for new sources of cash with the travel business in a deep slump and proceeds from the sale of its cars going to pay off creditors. Hertz raised just $29 million from selling its stock before questioning by Securities and Exchange Commission officials led the company to terminate plans to offer as much as $500 million of equity.
  • Amazon May Take Over old JCPenneys and Sears at Struggling Malls, in Order to Speed up Deliveries: Report
    August 11, 2020
    Retail spaces at struggling malls, formerly occupied by closed or bankrupt department stores, may not be empty or unprofitable for long: Amazon may move in. The company is in talks with the largest mall owner in the United States, Simon Property Group, to convert former or current JCPenney and Sears stores into distribution hubs to deliver packages, according to The Wall Street Journal.
  • Atlantic Carbon Group Names Jeff Strobel as President and CEO
    August 11, 2020
    White Oak Global Advisors-backed company Atlantic Carbon Group Atlantic Carbon Group, Inc, (ACG) a leading producer of anthracite headquartered in Hazleton, PA, announced that its Board of Directors has appointed Jeff Strobel as President and CEO, effective August 1, 2020. In addition, Seth Schwartz, interim CEO, will transition to Chairman of the Board of Directors of ACG.
  • Hilco Redevelopment Partners Provides Support for the Children’s First Fund Summer Reading Initiative
    August 11, 2020
    The initiative is designed to help Chicago Public School students build culturally relevant personal libraries and to keep them reading and learning during the summer and remote learning.
  • WaFd Bank Leverages nCino to Efficiently and Digitally Provide Commercial and Small Business Financing
    August 11, 2020
    nCino, Inc. (NASDAQ: NCNO) today announced that $18.2 billion-asset Seattle-based WaFd Bank has deployed the nCino Bank Operating System to increase and digitize its commercial lending efficiency and improve the client experience. WaFd was also able to utilize nCino for SBA loan processing to assist small businesses through the coronavirus pandemic as a result of the platform’s agility. The bank worked with management and technology consulting firm West Monroe to implement nCino’s cloud-based digital platform.
  • TCF National Bank Completes Integration with Chemical Bank, Creating Strong Foundation to Strengthen Individuals, Businesses and the Community
    August 11, 2020
    TCF National Bank announced the successful completion of its integration with Chemical Bank on Monday, creating a strong foundation to strengthen individuals, businesses and the community. TCF retired the Chemical brand and unveiled its new brand platform and ad campaign to encapsulate how when one business or individual succeeds, the positive impacts are felt throughout the entire community. The company’s new tagline, “What’s in it for We,” follows TCF’s announcement of a $1 billion loan commitment to minority communities and minority-owned and women-owned small businesses.
  • Federal Reserve Board Announces Individual Large Bank Capital Requirements, Which will be Effective on October 1
    August 11, 2020
    Following its stress tests earlier this year, the Federal Reserve Board on Monday announced individual large bank capital requirements, which will be effective on October 1. Under its framework for large banks—those with more than $100 billion in total assets—capital requirements are in part determined by stress test results, which provide a risk-sensitive and forward-looking assessment of capital needs.
  • CRE Private-Equity Fundraising Shrivels Under Coronavirus
    August 11, 2020
    The new coronavirus has stalled the growth of commercial real estate in North America in the first half of 2020, according to a report by Preqin. According to the report, private real estate equity fundraising reached a peak in 2019 with approximately $83 billion in 2019. The report shows that number was on track to match in 2020, however by June only $23 billion has been raised in the sector. The report also shows that deal-making has been on the decline compared to 2019. There were 3,639 deals made in 2019. However, there have only been 968 deals made in the first half of 2020.
  • Over 60% of Global Bank Rating Outlooks Are Negative
    August 10, 2020
    Fitch Ratings' new interactive country-by-country map of bank rating trends shows that the balance of Outlooks globally has turned sharply negative since the onset of the coronavirus pandemic. The proportion of bank ratings on Negative Outlook or Rating Watch Negative (RWN) shot up to over 60% at end-1H20 from 13% at end-2019. The proportion on RWN was 10%, the highest in recent years, reflecting near-term risks to many banks' ratings. There were virtually no ratings on Positive Outlook or Rating Watch Positive.
  • AVEO Oncology Announces Restructuring of Existing Term Loan with Closing of New Tranched, $35 Million Debt Facility
    August 10, 2020
    AVEO Oncology (Nasdaq: AVEO) today announced the closing of a tranched, $35 million debt facility with Hercules Capital, Inc. (NYSE: HTGC) and its affiliates. The new facility has a maturity of 36 months, extendable up to 48 months, and an interest-only period of 12 months, extendable up to 30 months upon the achievement of performance milestones related to the approval and commercialization of tivozanib.
  • Rosenthal Closes Two Factoring Deals with West Coast Apparel Companies
    August 10, 2020
    Rosenthal & Rosenthal, Inc., the leading factoring, asset-based lending and purchase order financing firm in the U.S., today announced the completion of two separate multi-million dollar factoring deals with California-based apparel companies. A women’s apparel brand of high-quality sustainable fashion was in need of a new factoring arrangement when its current factor was no longer able to support the company and its growth plans.
  • US Capital Global Securities Receives Large Endowment into Recently Launched $100MM Global Lending Fund
    August 10, 2020
    San Francisco-based private financial group’s global fund of funds is now actively allocating to private investment funds and other capital providers offering secured loans to qualifying SMBs.
  • Biohaven Announces up to $500 Million Non-Dilutive Term Loan with Sixth Street
    August 10, 2020
    Cooley acted as legal advisor to Biohaven on the transaction. Latham & Watkins LLP and Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. acted as legal advisors to Sixth Street.
  • McCabe Joins Newpoint as Managing Director
    August 10, 2020
    Newpoint Advisors Corporation, a financial advisory firm dedicated to troubled small to midsized businesses, announced that Tom McCabe has joined as a Managing Director in the Chicago office. McCabe has nearly 30 years of executive financial leadership experience.
  • Oryx Stainless Group Secures 80 Million Euro Credit Facility
    August 10, 2020
    As an important milestone in its financial strategy, Oryx Stainless Group has refinanced 80 million Euro out of a previous 100 million Euro syndicated credit facility. In this transaction, HSBC acted as sole bookrunner, supported by Commerzbank, DZ Bank and Rabobank as Mandated Lead Arrangers. NRW Bank and Sparkasse Düsseldorf acted as Lead Arrangers.
  • Amerisource Closes $1,500,000 Credit Facility for Manufacturer
    August 10, 2020
    Amerisource Business Capital announced the closing and funding of a $1,500,000 real estate loan to a flow meter manufacturer based in Texas. Doug Forbes, Regional Market Manager for Amerisource, stated: “We were able to quickly provide the funds needed to refinance the customer’s current bank debt through our real-estate product. The proceeds will increase the Company’s working capital which will be used to support future growth.”
  • BNP Paribas Closes First Environment-Linked RCF in Latin America with Empresas CMPC
    August 10, 2020
    BNP Paribas, a premier global bank, today announced that it has closed a $100 million syndicated Revolving Credit Facility (“RCF”) structured as a sustainability-linked loan (“SLL”) with Empresas CMPC S.A. (“CMPC” or the “Company”), a Chilean pulp and paper company. BNP Paribas, as Joint Lead Arranger and Sole Sustainability Coordinator, led the group of banks involved in the transaction, and will be the Administrative Agent of the facility.
  • CIFC Launches ‘All-Weather’ High Yield Strategy in UCITS Form
    August 10, 2020
    Alternative credit specialist CIFC has launched a long/short high yield UCITS fund managed by industry veteran Jason Horowitz, who has been running similar strategies successfully for over 10 years. Mr. Horowitz joined the New York-based manager in January as Head of U.S. High Yield Bond Investments. He has been managing the strategy for CIFC since February 1, 2020, delivering a 12.69% net gain to the end of July, compared with a 0.18% loss for the wider U.S. high yield market.1 The strategy made positive returns during March at the height of market anxiety around Covid-19.
  • FTI Consulting Expands Global Aviation Offering
    August 10, 2020
    FTI Consulting, Inc. (NYSE: FCN) today announced continued investment in its Aviation offering with the launch of a dedicated global industry practice and the appointment of two Senior Managing Directors and four Managing Directors. This team will immediately enhance the firm’s depth of expertise for airlines, manufacturers, lenders, lessors, investors and other aviation-industry players, as they continue to respond to the changing environment, stabilize their businesses amid profound uncertainty and take a leading position to emerge from the downturn.
  • WhiteHorse Capital Continues Expanding the Sponsor Originations Team with the Addition of Jason Hicks as Principal
    August 10, 2020
    WhiteHorse Capital (“WhiteHorse”), the direct lending affiliate of H.I.G. Capital, a leading global alternative investment firm with $39 billion of equity capital under management, is pleased to announce the addition of Jason Hicks as Principal. He will be based in WhiteHorse’s New York office and will be responsible for originating and executing middle market debt financings for private equity sponsored transactions.
  • Citizens Bank Provides $27.5 Million in Construction Financing for Housing Projects in Philadelphia
    August 6, 2020
    Citizens Bank announced today that its Community Development Group has provided a $19 million loan to 2601 Poplar OZ, LLC, whose sponsor is Daniel Greenberg, for the acquisition and construction of a new mixed used project at 2601 Poplar St. in Philadelphia that will have 108 market-rate apartments and 11,000 square feet of commercial space. Equity was provided by a partnership between Sage Real Estate Group and Jay Goldstein. The project will re-develop a vacant property.
  • Monroe Capital Corporation BDC Announces Second Quarter 2020 Financial Results
    August 6, 2020
    Second Quarter 2020 Financial Highlights: • Paid quarterly dividend of $0.25 per share; • Current annual cash dividend yield to shareholders of approximately 15.9%1; • Shares trading at a Price to NAV of 0.61x2; • Net Investment Income of $12.6 million, or $0.61 per share; • Adjusted Net Investment Income of $12.8 million, or $0.62 per share; and • Net increase in net assets resulting from operations of $14.2 million, or $0.69 per share
  • BlackRock TCP Capital Corp. Announces Appointment of Andrea Petro to Its Board Following the Retirement of Brian Wruble
    August 6, 2020
    BlackRock TCP Capital Corp. (NASDAQ: TCPC) (“we,” “us,” “our,” “TCPC” or the “Company”) announced today that Brian Wruble retired from the Board of Directors effective August 4, 2020. Additionally, TCPC appointed Andrea Petro as an independent director. Ms. Petro will serve on the Audit Committee, Governance and Compensation Committee, and Joint Transactions Committee.
  • Viad Corp Secures Additional Capital of up to $180 Million and Amends Credit Facility for Enhanced Financial Flexibility
    August 6, 2020
    Viad Corp (NYSE: VVI) today reported that it has closed on an agreement with funds managed by private equity firm Crestview Partners for the private placement of up to $180 million of preferred stock, and an agreement with its lender group to enhance the Company’s financial flexibility for the next eight fiscal quarters. Viad was represented in the transaction by Moelis & Company LLC as placement agent and Latham & Watkins LLP as legal advisor. Crestview was represented by Jefferies Group LLC and Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal advisor.
  • Metropolitan Bank Holding Corp. Appoints Dixiana Berrios Chief Operating Officer
    August 6, 2020
    Ms. Berrios brings more than 24 years of experience across a broad range of financial, digital and management disciplines, primarily in the banking sector. Most recently, she was Executive Vice President, Director of Operations at Amalgamated Bank, New York, NY.
  • First Eagle Alternative Credit Appoints Michelle Handy to Direct Lending Investment Committee
    August 6, 2020
    First Eagle Alternative Credit, LLC (“FEAC”) today announced the appointment of Michelle Handy, a Managing Director and Head of Portfolio & Underwriting for the firm’s Direct Lending platform, to its Direct Lending Investment Committee. Since joining the firm, then known as THL Credit in 2016, Handy has been responsible for overseeing the underwriting and management of investments across the portfolio. She joins three other primary members on the Direct Lending Investment Committee: Chris Flynn, President; Jim Fellows, CIO; and Terry Olson, COO and CFO. There are also rotating committee members who provide industry expertise.
  • A&G Accepting Offers on Phoenix Distribution Center in Tuesday Morning Corp. Bankruptcy Organization
    August 5, 2020
    A&G Real Estate Partners is now accepting bids on the leasehold interest for Tuesday Morning Corporation’s Phoenix distribution center in connection with its role as real estate advisor in the retailer’s Chapter 11 bankruptcy reorganization case. State-of-the-art facility offers turnkey opportunity for e-commerce, store fulfillment or other distribution applications.
  • Amerisource Closes $6,500,000 Revolving Line and Term Loan for Chemical and Additive Manufacturer In Texas
    August 5, 2020
    Amerisource Business Capital announced the closing and funding of a $6,500,000 credit facility for a chemical and additive manufacturer based in Texas. Proceeds of the facility were used to support the company’s continued growth.
  • Hedaya Capital Group Announces the Completion of a $750,000 Factoring Facility for an Infant and Toddler’s Clothing Importer
    August 5, 2020
    The Hedaya Capital Group, Inc. is pleased to announce a $750,000 factoring facility for an infant and toddler’s clothing importer. The company was a spin-off from a larger importer based in New York City, and is expected to do $5,000,000 in sales in its first year as an independent entity.
  • Stenn Launches International Trade Financing for Professional Services
    August 5, 2020
    Digital trade finance provider Stenn, a pioneer in offering innovative international financing solutions for diverse sectors, today announced the launch of its new Professional Services Finance Program. The program delivers international invoice financing for service providers across the globe.
  • TAB Bank Provides Outsourced Customer Service Company in Colorado with a $3 Million Revolving Credit Facility
    August 5, 2020
    TAB Bank is pleased to announce it has provided a $3 million revolving credit facility for an outsourced customer service company based in Colorado. The new facility is extended through a multi-year agreement and will provide for the ongoing working capital needs for the company.
  • Commercial Funding Inc. Enters the Asset Based Lending Market
    August 5, 2020
    Commercial Funding Inc., a national provider of invoice factoring and accounts receivable financing, has added asset-based loans to its funding solutions. Designed to meet the needs of small to mid-market sized businesses operating in the business-to-business space, Commercial Funding’s asset based loans will typically range from $500,000 to $2,500,000.
  • Morgan Stanley Private Credit and Comvest Partners Announce Junior Capital Financing for von Drehle Corporation
    August 5, 2020
    Headquartered in Hickory, North Carolina, von Drehle Corporation is a leading independent vertical-integrated manufacturer of paper tissue and towels. With its best-in-class paper making facilities in Cordova, North Carolina, and Natchez, Mississippi, coupled with a broad footprint of paper converting facilities, von Drehle is able to supply accounts nationwide with industry-leading customer service.
  • Alvarez & Marsal Launches North American Automotive and Industrials Group
    August 5, 2020
    Leading global professional services firm Alvarez & Marsal (A&M) has announced the hiring of Rick Kozole as Managing Director. Based in Detroit, Mr. Kozole will serve as the leader of the firm’s North American Automotive and Industrials Group. Mr. Kozole also joins the senior leadership team of A&M’s global Aerospace, Defense & Aviation team. His appointment expands A&M’s ability to provide these sectors with complex, enterprise-wide restructuring and performance improvement solutions in the areas of engineering, procurement, manufacturing, quality and logistics.
  • Huntington Business Credit Close New $25,128,000 Credit Facilities with LL Flex LLC
    August 5, 2020
    Huntington Business Credit announced it closed new $25,128,000 credit facilities with LL Flex LLC on June 26, 2020. LL Flex LLC is owned by Centre Lane Partners, a private equity firm based in New York City. Proceeds of the facilities were used to refinance existing debt and provide ongoing working capital growth financing.
  • Alterna Capital Solutions Celebrates 2 Years With Completion of Additional $15 Million Equity Investment and a $30 Million LOC Increase
    August 4, 2020
    Alterna Capital Solutions, a specialty and alternative financing lender to small businesses experiencing growth, today announced the completion of an additional $15 million private equity investment from Alterna Equity Partners, coinciding with a line increase of $30 million from Texas Capital Bank to complement a $50 million asset-based credit facility led by Wells Fargo Capital Finance.
  • Blackstone Hires Former Amazon Executive Christine Feng as Senior Managing Director
    August 4, 2020
    Blackstone (NYSE:BX) today announced that Christine Feng, a former senior executive at Amazon focused on mergers and acquisitions, has joined the firm as Senior Managing Director. Ms. Feng will be based in San Francisco and focus on technology investing for Blackstone’s opportunistic investing platform, Blackstone Tactical Opportunities, and will also work closely with Blackstone’s credit investing platform, GSO.
  • OpenGate Capital Strengthens Management Team with Tenured Chief Financial Officer Heather Malloy Joins OpenGate as CFO
    August 4, 2020
    OpenGate Capital, a global private equity firm, announced today that their senior leadership team has expanded with the addition of Heather Malloy who joined the firm today as Chief Financial Officer based in the firm’s Los Angeles office. Malloy is a tenured, private equity finance executive with an extensive background in corporate strategy, structuring, and systems. She is experienced in control buyouts, senior, junior, and mezzanine debt, structured finance, and asset-backed securities.
  • Truist Securities: Corporate and Investment Banking Powerhouse Created by Combination of SunTrust Robinson Humphrey and BB&T Capital Markets
    August 4, 2020
    Truist Financial Corporation (NYSE: TFC) today announced that its corporate and investment banking businesses, SunTrust Robinson Humphrey and BB&T Capital Markets, have integrated and are now doing business as Truist Securities.
  • TNS Targets Continued Global Growth with Key Strategic Appointment
    August 4, 2020
    Transaction Network Services (TNS) has appointed payments industry veteran John Tait to the newly created position of Global Managing Director for its FinTech Payments business. Based in Australia, Tait takes responsibility for TNS’ payments teams across the Americas, Europe and Asia Pacific regions, which now serve customers in over 60 countries. Tait has a strong understanding of TNS’ business having originally joined the company in 2016 as Managing Director for Asia Pacific and taking on a position on the TNS Asia Pacific Advisory Board in 2018. In 2019, Tait’s role was expanded to include management of the newly acquired ADVAM business.
  • Assets from Two Syringe-Filling/Sterile Drug Compounding Plants Up for Sale
    August 4, 2020
    Tiger Group, in partnership with Liquidity Services and Perry Videx, is now accepting immediate offers to purchase assets from two syringe-filling/sterile drug compounding plants that had been operated by PharMEDium, a manufacturer of ready-to-use compounded sterile preparations.
  • RTW Retailwinds, Inc. Announces Execution of Asset Purchase Agreement with Sunrise Brands, LLC for the Sale of its e-Commerce Business
    August 4, 2020
    RTW Retailwinds, Inc. (“RTW” or the “Company”) [OTC PINK:RTWIQ], an omni-channel specialty apparel retail platform for powerful celebrity and consumer brands, today announced that it has entered into an asset purchase agreement with Sunrise Brands, LLC for the sale of its e-commerce business and all related intellectual property, including its websites, www.nyandcompany.com, www.fashiontofigure.com and its rental subscription businesses at www.nyandcompanycloset.com and www.fashiontofigurecloset.com for a cash purchase price of $20 million plus assumption of certain liabilities, including honoring gift cards, subject to closing adjustments. B. Riley FBR, an affiliate of B. Riley Financial, Inc. (NASDAQ: RILY), is serving as the investment banker to the Company; Cole Schotz P.C. is serving as its legal advisor; and Berkeley Research Group, LLC is serving as its restructuring advisor.
  • Amerisource Closes $2,500,000 Revolver And Real Estate Term Loan for Manufacturer and Distributor
    August 4, 2020
    Amerisource Business Capital announced the closing and funding of a $2,500,000 credit facility for a power generation component part manufacturer and distributor based in Connecticut. The company is recapitalizing its balance sheet and needed a lender to provide availability on accounts receivable, inventory and real estate.
  • Texas Distribution Center Offered by A&G In Stage Stores Bankruptcy
    August 4, 2020
    With state-of-the-art features, Jacksonville, TX site offers turnkey opportunity for e-commerce, store fulfillment or other applications; site includes undeveloped land for expansion; A&G also offers income-producing industrial RTV center in Jacksonville and retail site in WV.
  • SG Credit Partners Provides $2.5 Million to Consumer Debt Collection Agency
    August 4, 2020
    The privately owned consumer debt collection agency needed capital quickly to move on opportunistic portfolio purchases as well as working capital cushion while collection curves ramped up. SG was able to quickly get comfortable with the transaction due to the value of dedicated portfolio collateral as well as a strong personal guaranty from the owner. SG worked quickly to provides $1.5MM funded ($2.5MM total) facility in a first lien position with interest-only payment.
  • Rosenthal Closes Factoring Deal w/CA-based Cosmetic Company Amid COVID-19
    August 4, 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 multi-million factoring deal with a California-based cosmetics business that successfully shifted its production to aid in the fight against COVID-19.
  • J D Factors Announces Factoring Facilities
    August 3, 2020
    J D Factors announced the following factoring facilities: $100,000 to a transportation company in British Columbia; $50,000 to a transportation company in Texas; $100,000 to a transportation company in Alberta; $200,000 to a transportation company in Texas.
  • Hermitage Offshore Services Ltd. Announces 10-Day Extension of Forbearance Agreement with the Lenders to its $132.9 Million Term Loan Facility
    August 3, 2020
    Hermitage Offshore Services Ltd. (NYSE:PSV) (“Hermitage Offshore,” or the “Company”) announced today that it has agreed to a 10-day extension of its previously announced forbearance agreement dated July 8, 2020 (the “Forbearance Agreement”) to its $132.9 Million Term Loan Facility dated January 14, 2020 (the “Term Loan Facility”) with DNB Bank ASA and Skandinaviska Enskilda Banken AB (publ) (together, the “Lenders”) and DNB Bank ASA, as agent and security agent.
  • Access Capital Provides $1.15 Million for Scribe-X LLC
    August 3, 2020
    Scribe-X LLC is a Portland, OR based provider of medical scribe services to the healthcare industry. Medical scribes provide real time clinical documentation to medical professionals thus allowing for more effective patient visits and less time behind a desk for clinicians. Access Capital replaced the company’s bank and will become its financial partner by providing a revolver of $850,000 and a term loan in the amount of $300,000.
  • Altura Energy Inc. Provides an Update on its Credit Facility Renewal
    August 3, 2020
    Altura Energy Inc. provides an update on its credit facility renewal. Altura and its lender have agreed to further extend the credit facility renewal from July 31, 2020 to August 31, 2020 to provide sufficient time to apply for the proposed federal support programs being initiated through the Export Development Bank of Canada and the Business Development Bank of Canada. In the interim, Altura's $9.0 million credit facility that was capped at $7.5 million on April 7, 2020 has been reduced to $6.0 million.
  • Simpson Thacher Adds Leading Private Equity Lawyer James Howe
    August 3, 2020
    Simpson Thacher & Bartlett LLP announced today that James Howe has joined its Mergers and Acquisitions Practice as a Partner in the London office. James is a rising star in private equity M&A who focuses on cross-border leveraged buyouts, mergers and acquisitions and corporate finance transactions. He has advised a wide range of clients across the globe, including many of the world’s leading private equity sponsors and financial institutions. He joins the Firm from Gibson, Dunn & Crutcher LLP.
  • BHI Appoints Jeff Lubatkin Chief Credit Officer
    August 3, 2020
    BHI, a full-service commercial bank, announced that it has appointed Jeff Lubatkin as Chief Credit Officer, overseeing the bank’s credit and credit analysis departments. Lubatkin has more than 25 years of commercial and corporate banking, credit risk management, and relationship management experience.
  • Denbury Resources Commences Next Step to Implement Pre-Packaged Plan to Strengthen Its Balance Sheet and Reduce Debt
    August 3, 2020
    Denbury Resources Inc. (NYSE: DNR) (“Denbury” or the “Company”) today announced it has taken the next step to implement its “pre-packaged” plan to eliminate the Company’s $2.1 billion of bond debt, consistent with the terms of its previously announced Restructuring Support Agreement (the "RSA"). Kirkland & Ellis LLP is acting as legal counsel to Denbury, Evercore Inc. is acting as financial advisor and Alvarez & Marsal is serving as restructuring advisor.
  • Noble Corporation plc Announces Comprehensive Financial Restructuring And Deleveraging Transaction
    August 3, 2020
    Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal counsel to Noble, Evercore is serving as the Company's financial advisor, and AlixPartners LLP is serving as operational advisor. Porter Hedges LLP is serving as local legal counsel and EPIQ Restructuring Services LLC is serving as administrative agent. Kramer Levin Naftalis & Frankel LLP and Akin Gump LLP are serving as co-legal counsel and Ducera Partners LLC is serving as financial advisor to an ad hoc group of the Company's priority guaranteed noteholders. Milbank LLP is serving as legal counsel and Houlihan Lokey Capital, Inc. is serving as financial advisor to an ad hoc group of the Company's senior noteholders. Simpson Thacher & Bartlett LLP is serving as legal counsel and PJT Partners is serving as financial advisor to JP Morgan.
  • Le Tote and Lord + Taylor to Continue Sale Process and Commence Store Closings at Certain Stores Through Voluntary Chapter 11 Filing
    August 3, 2020
    Kirkland & Ellis LLP is acting as legal advisor to the Company and Berkeley Research Group, LLC is acting as restructuring advisor. Nfluence Partners is acting as the Company’s investment banker and a joint venture of Hilco Merchant Resources and Gordon Brothers are managing the Company’s store closing sales.
  • Support Building for More Constructive ABL Integration Into Main Street Lending Programs
    August 3, 2020
    In a letter to Treasury Secretary Steven Mnuchin and Federal Reserve Chairman Jerome Powell, Senator Mike Crapo (R-ID) Chairman of the Senate Banking Committee urged law makers to “quickly expand the Main Street Lending Program by setting up an asset-based lending program” writing, “establishing a facility to accommodate asset-based lending could open access to critical resources for several industries that could not otherwise access the MSLP based on earnings or cash flow metrics.
  • Gibraltar Business Capital Turns 10, Surpasses $500MM in Closed Deals
    August 3, 2020
    Gibraltar’s long history began in 1951, when its predecessor Gibraltar Financial Corporation was founded in Chicago. In 1995, a rookie account executive named Scott Winicour joined the firm. Working his way from the ground floor up — learning the sales, credit, operations and underwriting processes — Scott took over operations in 2005. Then in 2010, Scott led a management buyout of Gibraltar Financial Corporation and established the company we are today — Gibraltar Business Capital.
  • Blackstone / GSO Announces Update to Closed-End Fund Portfolio Management Team
    August 3, 2020
    GSO / Blackstone Debt Funds Management LLC, an affiliate of GSO Capital Partners LP ("GSO") and the investment adviser of Blackstone / GSO Senior Floating Rate Term Fund (NYSE: BSL), Blackstone / GSO Long-Short Credit Income Fund (NYSE: BGX), and Blackstone / GSO Strategic Credit Fund (NYSE: BGB) (each a "Fund" and together the "Funds"), announced today that Robert Post has been added as a portfolio manager of the Funds, effective August 1, 2020. Robert Zable will remain the lead portfolio manager of the Funds, and Gordon McKemie will remain a portfolio manager of the Funds.
  • Five Star Bank Names Kevin Quinn Senior Vice President and Commercial Banking Executive
    August 3, 2020
    Five Star Bank (the “Bank”), subsidiary of Financial Institutions, Inc. (NASDAQ:FISI), announced today that Kevin Quinn will be joining the Bank on August 10th as Senior Vice President and Commercial Banking Executive. Quinn will report to President and CEO, Martin K. Birmingham. Quinn will assume responsibility for commercial and industrial lending, business banking, cash management, community development and merchant services as well as leadership of Five Star Bank’s referral program, promoting relationship-building and business development between the Bank and its insurance and wealth management subsidiaries.
  • July Credit Managers’ Index Rebounds to Pre-Pandemic Levels
    August 3, 2020
    The Credit Managers’ Index from the National Association of Credit Management has rebounded to pre-pandemic levels after shutdowns and preventative measures greatly impacted the U.S. economy.
  • North Mill Capital, LLC Provides $900,000 Accounts Receivable Credit Facility for Sic Lazaro
    August 3, 2020
    North Mill Capital, LLC announced it has provided a $900,000 accounts receivable credit facility for Sic Lazaro. The funds will be used to provide additional working capital to support the company's growth.
  • Sunflower Bank’s Leveraged Finance Team Provides Senior Debt Financing to RealDefense
    July 31, 2020
    Sunflower Bank, N.A. is pleased to announce that its Leveraged Finance team worked to provide $10 million in revolving and term debt commitments to support the acquisition of iolo technologies (“IOLO”) by RealDefense, LLC (“RealDefense”), a portfolio company of Corbel Capital Partners and Broadstream Capital Partners. The transaction closed in June 2020.
  • CIT Leads $25 Million Financing Deal for MLK Community Hospital Medical Office Building
    July 30, 2020
    CIT Group Inc. (NYSE: CIT) and its Healthcare Finance unit today announced a $25 million loan supporting Seavest Healthcare Properties' acquisition of the MLK Community Hospital Medical Office Building in South Los Angeles. The private, nonprofit hospital provides essential healthcare services for residents of the Watts, Compton and Willowbrook neighborhoods of Los Angeles.
  • TAB Bank Provides Water Bottling Company in California with a $4 Million Asset-Based Credit Facility
    July 30, 2020
    TAB Bank is pleased to announce it has provided a $4 million asset-based revolving credit facility for a water bottling company based in California. The new facility is extended through a multi-year agreement and will provide for the ongoing working capital needs for the company.
  • Rally Capital Advisors Has Successfully Sold Substantially All of the Assets of Arlington Plating Company to Strategic Investor; Rally's Third Successful Transaction Amid Pandemic
    July 30, 2020
    Rally Capital Advisors, a middle market financial and transaction advisory firm has successfully sold substantially all of the assets of Arlington Plating Company (APC) to Garth Davies, a plating industry veteran, and also owner of Midwest Rustproofing and Enameled Steel. APC is an independent and globally positioned electroplating shop, named Top 50 in the United States for three of the last five years. APC's production lines consist of automated anodizing, nickel chrome (automated and manual), electroless nickel, semi-auto and manual buffing. APC sells end-user parts to a marquee list of customers with a diverse profile across the U.S., Italy, China, Canada and Mexico.
  • Bridge Bank Extends Venture Term Loan to Deep Lens, Inc.
    July 30, 2020
    Bridge Bank today announced it has extended a venture term loan to Deep Lens, a Columbus, Ohio-based software company focused on accelerating clinical trial recruitment for the best-suited cancer patients to compress study timelines and bring game-changing therapies to market sooner. The company is venture-backed by Northpond Ventures, Sierra Ventures, Rev1 Ventures, and Tamarind Hill.
  • Z Capital Group Appoints Shahid Khoja as Director and Member of Credit Investment Team
    July 30, 2020
    Z Capital Group, LLC ("ZCG" or the "Firm"), a leading privately held global investment firm with complimentary private equity and credit businesses, today announced the appointment of Shahid Khoja as a Director and member of Z Capital Credit Partners' ("ZCCP") Investment Team. Mr. Khoja is responsible for research and analysis on existing and prospective performing and distressed investments.
  • Amerisource Closes $4,500,000 Credit Facility for Real Estate Firm
    July 30, 2020
    Amerisource Business Capital announced the closing and funding of a $4,500,000 credit facility for a real estate firm based in Texas. The proceeds are being used to refinance a maturing bank loan.
  • MidFirst Business Credit Announces New Lending Relationship with Phoenix Group Metals, LLC
    July 30, 2020
    MidFirst Business Credit (MFBC) announced it has provided a $10 million working capital facility to Phoenix Group Metals, LLC (PGM). Headquartered in Phoenix, PGM operates three recycling locations for automotive cores and catalytic convertors in Phoenix, Houston, and Atlanta. The funds were used to refinance the payoff to an existing lender, provide additional working capital and help facilitate further business expansion. The transaction was completed on July 10.
  • Corbus Pharmaceuticals Strengthens Balance Sheet with up to $121 Million in New Capital
    July 30, 2020
    Corbus Pharmaceuticals Holdings, Inc. (NASDAQ: CRBP) (“Corbus” or the “Company”), a clinical-stage drug development company pioneering transformative medicines that target the endocannabinoid system, today announced it has received an aggregate of $71 million in gross proceeds from its at-the-market (“ATM") offering coupled with the execution of a $50 million debt financing facility with K2 HealthVentures (“K2HV”), a healthcare-focused specialty finance company. Jefferies, LLC is serving as sales agent for the ATM offering. Morgan Stanley & Co. LLC acted as sole placement agent for the debt financing.
  • U.S. Bank Announces Several Key Leadership Changes
    July 30, 2020
    Elcio Barcelos will be joining the company as its new senior executive vice president and chief human resources officer. Greg Cunningham will continue to serve as chief diversity officer, reporting to Andy Cecere, U.S. Bank chairman, president and CEO, effective immediately. In addition to these moves, Dominic Venturo will be promoted to senior executive vice president and chief digital officer, reporting to Kate Quinn, vice chair and chief administrative officer
  • GMRE Announces Exercise of $100 Million Accordion Under its Credit Facility and New Portfolio Milestone of Over $1 Billion of Properties
    July 29, 2020
    Global Medical REIT Inc. (NYSE: GMRE) (the “Company” or “GMRE”), a net-lease medical office real estate investment trust (REIT) that acquires purpose-built healthcare facilities and leases those facilities to strong healthcare systems and physician groups with leading market share, announced today that it exercised $100 million of its accordion under its credit facility and has achieved a property portfolio size of over $1 billion.
  • LendCare Announces Renewal and Expansion of Credit Facility to Support Unprecedented Growth
    July 29, 2020
    LendCare Capital, a leading Canadian point-of-sale finance and technology company, announced today it has renewed and expanded one of the company's supplemental credit facilities for $75 million.
  • Farmer Brothers Amends Credit Agreement and Provides Business Update
    July 29, 2020
    Farmer Bros. Co. (NASDAQ: FARM) (the “Company”) today announced it has amended its credit facility with JPMorgan Chase Bank, N.A to increase the Company’s flexibility in supporting its current and future business operations as the COVID-19 situation continues to evolve. The Company also provided a business update for the fourth quarter of 2020.
  • Federal Reserve Board Announces an Extension Through December 31 of its Lending Facilities That Were Scheduled to Expire on or Around September 30
    July 29, 2020
    The Federal Reserve Board on Tuesday announced an extension through December 31 of its lending facilities that were scheduled to expire on or around September 30. The three-month extension will facilitate planning by potential facility participants and provide certainty that the facilities will continue to be available to help the economy recover from the COVID-19 pandemic.
  • Amerisource Closes $1,500,000 Credit Facility for Food Manufacturer
    July 29, 2020
    Amerisource Business Capital announced the closing and funding of a $1,500,000 credit facility for a pre-packaged food manufacturer based in Illinois. The proceeds are being used to fund the company’s continued growth during COVID 19.
  • Alvarez & Marsal Expands Global Transaction Advisory Group Offering and Bolsters Benchmark Strength in Mexico
    July 29, 2020
    Leading global professional services firm Alvarez & Marsal (A&M) has announced the appointment of Rafael Aguirre as a Managing Director with the firm’s Global Transaction Advisory Group, based in Mexico City. His joining aligns the firm’s global perspective with its boots-on-the-ground approach and meets the Latin America market’s growing need for cross-border M&A, given an anticipated uptick in trade activity stemming from the United States-Mexico-Canada Agreement (USMCA).
  • Laybuy Secures £80 Million Debt Facility from Victory Park Capital
    July 29, 2020
    Laybuy, a global leader in 'Buy Now, Pay Later' (BNPL) technology, announced today that it has secured a £80 million debt facility from Victory Park Capital (“VPC”), a leading global alternative investment firm. With plans for continued international expansion, the funding from VPC will fuel Laybuy’s growth in the UK.
  • Enova to Acquire OnDeck to Create a Leading FinTech Company Serving Consumers and Small Businesses
    July 29, 2020
    Enova International (NYSE: ENVA) and OnDeck® (NYSE: ONDK), today announced that they have entered into a definitive agreement under which Enova will acquire all outstanding shares of OnDeck in a cash and stock transaction valued at approximately $90 million. The implied price of $1.38 per OnDeck share reflects a 43.6% premium to its 90-day volume weighted average price and a 90.4% premium based on the closing price of $0.73 per OnDeck share on July 27, 2020. This transaction brings together two complementary, market-leading businesses combining world-class capabilities in consumer and small business online lending.
  • J D Factors Announces Factoring Facilities
    July 29, 2020
    J D Factors announced it has provided the following factoring facilities: $100,000 to a transportation company in California; $75,000 to a transportation company in Quebec; $120,000 to a transportation company in Texas; $200,000 to a transportation company in Illinois.
  • Gordon Brothers Names Thomas Pedulla President of Real Estate
    July 29, 2020
    Gordon Brothers, the global advisory, restructuring and investment firm, announced that Thomas Pedulla has joined the company as President of Real Estate. Pedulla will lead the growth and expansion of Gordon Brothers’ real estate group. Pedulla inherits a team of seasoned real estate professionals with a multidecade track record of successful transactions ranging from lease terminations and restructurings to fee-owned property acquisition and disposition.
  • Monroe Capital Supports Warren Equity Partners’ M&D Add-on Acquisition
    July 29, 2020
    Monroe Capital LLC today announced an increase in the credit facility to Magneto & Diesel Injector Service, Inc. (“M&D”) to support the acquisition of an Automotive Parts Company. M&D is an existing portfolio company of Warren Equity Partners. The automotive parts company is a provider of aftermarket and remanufactured components for heavy duty diesel engine repairs. M&D is a leading independent distributor and remanufacturer of aftermarket parts and components for maintaining and repairing diesel-powered engines.
  • Great Rock Capital Expands Senior Management Team, Hires Brett Goodwin as Chief Financial Officer
    July 28, 2020
    Great Rock Capital, an asset-focused commercial finance company specializing in middle market lending, today announced Brett Goodwin has joined the firm as Chief Financial Officer. Brett will be based in Westport, CT and will be responsible for overseeing and managing the financial operations of the firm.
  • Pathlight Capital Announces $70,000,000 Term Loan to Armstrong Flooring
    July 28, 2020
    Pathlight Capital LP (“Pathlight”) announced it is serving as the Administrative Agent on the recently funded $70,000,000 Senior Secured Term Loan facility for Armstrong Flooring, Inc. (“Armstrong” or the “Company”), a global manufacturer of innovative flooring solutions serving customers in commercial and residential markets. The Term Loan, which was completed and funded on June 23, 2020, will be used for business transformation and growth initiatives, working capital needs and general corporate purposes.
  • TD Bank Names Jo Jagadish Head of Commercial Operating Products and Payment Innovation
    July 28, 2020
    TD Bank, America's Most Convenient Bank®, has appointed Jyotsana "Jo" Jagadish Head of Commercial Operating Products and Payment Innovation, a new role focused on developing and executing a strategy that positions TD as a partner of choice for commercial fintechs by engaging in market intelligence, developing potential partnerships and managing fintech relationships. In this role, Jagadish will also lead a team focused on mature commercial operating products and revenue management.
  • AgroFresh Announces Successful Completion of Comprehensive Refinancing
    July 28, 2020
    BMO Capital Markets acted as sole financial advisor to AgroFresh and left-lead bookrunner on the amendment and extension of AgroFresh’s senior secured credit facilities with Deutsche Bank and ING acting as joint lead arrangers and joint bookrunners. Greenberg Traurig, LLP acted as legal advisor to AgroFresh. Evercore and Kirkland & Ellis, LLP were the financial and legal advisors to Paine Schwartz, respectively. White & Case, LLP acted as the lenders’ counsel.
  • Bryant Park Capital & Multi Funding, Inc. Secure a $30 Million Senior Debt Facility
    July 28, 2020
    Bryant Park Capital ("BPC"), a leading middle-market investment bank, announced today that Multi Funding, Inc ("Multi Funding" or the "Company") recently closed on a $30 million senior debt transaction with a leading international bank. This capital injection will allow the company to accelerate top line revenue, expand its physical footprint, and operate as a significant player in the pre-settlement space. BPC served as the exclusive financial advisor to Multi Funding in connection with this transaction.
  • Bank Leumi USA Names Jerry Lumpkins Chicago Commercial Real Estate Lead
    July 28, 2020
    Bank Leumi USA announced today that it has appointed Jerry Lumpkins Commercial Real Estate Lead for Chicago. In this role, Lumpkins will focus on commercial investment real estate transactions, including multifamily, retail, office, and industrial properties throughout the Midwest. Lumpkins brings two decades of experience in commercial and real estate banking with 15 years’ expertise in the Chicago commercial banking market. He joins Leumi from BMO Harris Bank, where he was Director of Commercial Banking.
  • Simmons Joins Sunwest with More Than 30 Years of Banking and Financial Services Experience
    July 28, 2020
    Sunwest Bank is pleased to welcome Paul Simmons as its new Executive Vice President and Chief Credit Officer. In this role, Simmons will be responsible for managing the bank's asset quality and lending portfolio to ensure it continues to meet the organization's goals. Prior to joining Sunwest Bank, Simmons held leadership roles with Citigroup, GE Capital, Apollo Real Estate Advisors and Zions Bancorporation. Simmons also served as Chief Credit Officer for two publicly held banks, Banc of California, and most recently, with Silvergate Bank.
  • Lands' End Issues 'Going Concern' Warning as it Looks to Refinance Debt
    July 27, 2020
    With debt maturities looming next year, Lands' End acknowledged that there is "substantial doubt" about the company's ability to survive over the next 12 months. The company is working to replace its term loan financing, which could put to rest those doubts. "Due to the Company's recent trends of profitable growth, management believes that it will be able to refinance the Term Loan Facility on acceptable terms despite the challenging financial environment reflecting the COVID-19 pandemic," Lands' End said in a securities filing.
  • TradeCap Provides a $1,500,000 Purchase Order Facility for a Southwest U.S. Promotional Products Company
    July 27, 2020
    TradeCap Partners, LLC (“TradeCap”) recently announced the closing of a $1,500,000 trade finance facility for a promotional products importer located in the Southwest. The company had experienced sizeable growth in fiscal year 2019, financed primarily with the help of favorable payment terms with its overseas supplier and a long standing factoring relationship. Growth in 2020 started out strong with performance exceeding projections.
  • Simon and Authentic Brands Team up for Brooks Brothers Bid
    July 27, 2020
    The nation’s biggest mall owner is once again partnering to help save the bankrupt retailer Brooks Brothers. Sparc Group LLC, which is made up of Simon Property Group and Authentic Brands Group, has made a $305M bid for Brooks Brothers. The offer, which is subject to higher bids and court approval, is to purchase substantially all the retailer’s global business operations as a going concern and a commitment to keep at least 125 of Brooks Brothers’ stores open for business.
  • Rosehill Resources Inc. and Rosehill Operating Company, LLC File Voluntary Bankruptcy Petitions
    July 27, 2020
    Rosehill Resources Inc. and Rosehill Operating Company, LLC announced today that they have commenced voluntary Chapter 11 cases (under the United States Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas, pursuant to the terms of the previously announced Restructuring Support Agreement (the “RSA”) between the Company, the lenders under Rosehill’s revolving first lien credit facility, holders of Rosehill’s second lien notes and the Company’s Series B Preferred Stock, and Tema Oil and Gas Company, as the holder of approximately 66.8% of the equity interests in the Company and 35.2% of the equity interests in Rosehill Operating and party to the Company’s Tax Receivable Agreement.
  • California Resources Corporation Announces Additional Support for Restructuring Plan
    July 27, 2020
    California Resources Corporation (OTC: CRCQQ) announced today that it has entered into an amended and restated Restructuring Support Agreement with approximately 85% of the holders of its term loans due 2017 and 68% of the holders of its unsecured and deficiency debt claims. Reflecting this consensus, CRC has filed a plan of reorganization in its chapter 11 case that provides for the elimination of over $5 billion of debt and mezzanine equity interest, the consolidation of CRC’s ownership in the Elk Hills power plant and cryogenic gas plant, and the payment of all valid trade, employee, retiree, customer, vendor, regulatory and contingent claims in full in cash in the ordinary course of business.
  • Encina Business Credit Provides $12.5 Million Revolving Credit Facility to a Digital Marketing Services Provider
    July 27, 2020
    Encina Business Credit, LLC (EBC) announced today that it has provided a $12.5 million senior secured credit facility to a provider of digital and telephonic marketing services. The facility consists of a senior secured revolving line of credit based on accounts receivable. Loan proceeds will be used to pay down a portion of an existing term loan and to support ongoing working capital.
  • Moody's Weaker Global Economy to Result in Tighter Underwriting and Poorer Securitization Performance, but Impact Will Vary Widely
    July 27, 2020
    The weak global economy will lead to tighter-than-expected underwriting in the second half, and continue to weaken the performance of structured finance transactions around the globe, though in uneven ways across sectors and countries. The attached report represents Moody's structured finance credit analysts updated views on the factors influencing the credit quality of securitizations of all kinds, given the unprecedented economic shocks that followed the coronavirus pandemic.
  • Nuverra Extends Maturity of First and Second Lien Credit Facilities
    July 27, 2020
    Nuverra Environmental Solutions, Inc. (NYSE American: NES) (“Nuverra,” the “Company,” “we,” “us” or “our”) has entered into agreements with its lenders to extend the maturity date on its secured credit facilities and to modify the financial covenants to better reflect the Company’s current and projected financial profile. These amendments became effective on July 13, 2020 and consisted of a Third Amendment to its First Lien Credit Agreement with funds controlled by Ares Capital Management (“Ares”) and a Second Amendment to its Second Lien Credit Agreement with funds controlled by Ascribe Capital Management (“Ascribe”) and Gates Capital Management (“Gates Capital”).
  • Roadrunner Transportation Systems Announces Planned Separation of Ascent Global Logistics
    July 27, 2020
    Contemporaneously with the completion of the spin-off, Roadrunner's existing senior secured credit facility with BMO Bank Harris, N.A. will be terminated. Although the capital and banking structure of Roadrunner (post-spin-off) has not yet been finalized and specific terms remain to be determined, it is expected that Roadrunner will be capitalized following the spin-off with zero debt and sufficient liquidity and flexibility to pursue future growth opportunities.
  • Equifax Expands Leadership in Commercial Credit Data Solutions with Acquisition of Ansonia
    July 27, 2020
    Equifax® (NYSE: EFX) has increased its leadership in commercial credit data solutions with the acquisition of Ansonia Credit Data (Ansonia), a leading provider of business credit, collections, and account receivable data used by financial institutions and other creditors and businesses focused on the transportation and logistics industries. Ansonia will be integrated into PayNet, an Equifax company that provides credit and analytics on small and medium enterprises (SMEs) as part of the Equifax United States Information Solutions (USIS) business unit.
  • North Mill Capital LLC Provides $1,250,000 Accounts Receivable Credit Facility
    July 27, 2020
    Mighty Spark provides poultry products to grocery retailers all over the country. The company works with family-owned grower cooperatives to provide humanely raised, high-quality poultry. Every pack of Mighty Spark meat sold equals a donated meal to food banks across the U.S. with foreign meals sent across the globe.
  • Loeb Expands its Executive Talent with the Hiring of Greg Andricopulos and Eric Schwartz To Key Positions at Loeb Term Solutions
    July 27, 2020
    Loeb Terms Solutions (LTS) The Equipment Term and DIP Lenders, an industry leader in term loans for industrial manufacturing equipment and machinery is continuing to strengthen its executive talent with the hiring of Greg Andricopulos as CFO and Eric Schwartz as CIO & CMO.
  • Tenex Announces Investment in Consolidated Label and Online Labels; Varagon Capital Partners Acts as Administrative Agent, Lead Arranger and Bookrunner on a Senior Secured Credit Facility
    July 27, 2020
    Tenex has recapitalised and merged Consolidated Label and Online Labels along with the founders and current business leaders Joel and Dave Carmany. Consolidated Label offers its labeling solutions for consumer products such as food, health and beauty, and nutritional supplements. Varagon Capital Partners stated that it is acting as administrative agent, lead arranger and bookrunner on a senior secured credit facility to support the acquisition of Consolidated Label by Tenex.
  • Byline Bancorp Announces Retirement of Owen Beacom and Appointment of Mark Fucinato as Chief Credit Officer
    July 27, 2020
    Byline Bancorp, Inc. (NYSE: BY) announced today that Owen Beacom, Chief Credit Officer of Byline Bancorp and Byline Bank, has informed the Company of his intention to retire effective August 14, 2020. Mark Fucinato, currently Senior Vice President and Senior Credit Officer at Byline Bank, will succeed Mr. Beacom as Chief Credit Officer. Mr. Fucinato has more than 33 years of experience in the banking industry and joined Byline in August 2019. Mr. Beacom will remain as an advisor to the Company to assist in the transition.
  • Gordon Brothers Shares Insights on the USMCA and Asset Valuation
    July 27, 2020
    Gordon Brothers, the global advisory, restructuring and investment firm, has released an article that discusses the United States-Mexico-Canada trade agreement (USMCA) and outlines some of its most important implications for asset valuation. On the heels of the USMCA becoming effective, Alex Sutton, Gordon Brothers Managing Director and Head of Research, gives insight into the potential outcomes of the deal, such as changes in the supply chain, shifts in local economies, increases in costs, and opportunities in certain sectors—all factors that can significantly impact asset values.
  • Rhino Resource Partners LP Voluntarily Files for Relief under Chapter 11
    July 23, 2020
    Rhino Resource Partners LP (OTC: RHNO) (“Rhino” or the “Partnership”) announced today that it, along with its subsidiaries and certain of its affiliates, has filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Ohio. In connection with the filing, Rhino has obtained $11.75 million of post-petition financing and the support from a stalking horse bidder to acquire the company.
  • J.Jill Has Until the End of the Month to Meet Its Loan Terms — or Face Bankruptcy
    July 23, 2020
    J.Jill has been granted another extension to its forbearance period. The struggling womenswear chain and its lenders have amended its existing agreements. Originally set to expire on June 15, the agreement prevents the lenders from exercising any rights and remedies against the company until July 30.
  • Westport Fuel Systems Secures US$10 Million Credit Facility from Export Development Canada
    July 23, 2020
    Westport Fuel Systems Inc. (“Westport Fuel Systems” or the “Company”) (TSX:WPRT / Nasdaq:WPRT) today announced that they have closed a US$10 million term credit facility (the “facility”) from Export Development Canada (“EDC”) to bolster liquidity during the COVID-19 pandemic. The credit facility from EDC enables the Company to make periodic requests for advances for a period of nine months from the date of the Amended and Restated Loan Agreement and has a final maturity date twelve months from the date of the Agreement.
  • Stifel Augments European Fixed Income Team with Key New Hires
    July 23, 2020
    Stifel Financial Corp. (NYSE: SF) today announced five senior hires within its European Fixed Income division. Matt Smith, Cedric Beaumont, Christopher Greenwood, Andrew Oliver, and Chris Spear have all joined Stifel’s Fixed Income Group and are based in various locations throughout Europe. The team will strengthen the group’s global presence and further augment Stifel’s growing Leveraged Loans and GBP franchises.
  • Pyxus International, Inc. Receives Overwhelming Support of Creditors for Prepackaged Plan of Reorganization
    July 23, 2020
    Pyxus International, Inc. ("Pyxus" or "the Company") (OTC Pink: PYXSQ), a global value-added agricultural company, announced today that on July 20, 2020, the Prepackaged Plan of Reorganization of Pyxus International, Inc. and its Affiliated Debtors (the "Prepackaged Plan") was overwhelmingly approved by each class of creditors entitled to vote. Of those that submitted ballots, holders of 100% of first lien notes (holding over $266 million of principal) and over 99% of the second lien notes (holding over $524 million of principal) voted in favor of the Prepackaged Plan.
  • Lighthouse Provides $5,000,000 Credit Facility
    July 23, 2020
    Lighthouse Financial Corp. is pleased to announce the completion of a $5,000,000 credit facility for a North Carolina-based distributor of high quality plumbing and HVAC products. For more than 100 years, the company's brand has represented innovative commercial and industrial valves and HVAC grilles, registers, and diffusers built with confidence and quality.
  • Mosana Khan Honored by Secured Finance Network
    July 23, 2020
    Gordon Brothers, the global advisory, restructuring, and investment firm, announced that Mosana Khan has been honored as a recipient of its 40 Under 40 Award for 2020 by the Secured Finance Network.
  • Crestmark Provides More Than $43.4 Million in Commercial Financing to 112 Businesses in the First Half of July
    July 23, 2020
    Crestmark secured a total of $7,703,300 in ABL financial solutions for seven new clients; Crestmark Equipment Finance provided $16,946,772 in three new lease transactions; Crestmark Vendor Finance provided $7,799,845 in 98 new lease transactions; the Joint Ventures Division provided $9,067,872 in financing to one new client; and the Government Guaranteed Lending group provided $1,940,000 in financing for three new clients in the first half of July.
  • Ascena Retail Group, Inc. Engages SB360 Capital Partners as Consultant to Conduct Store Closing Sales Across Brand
    July 23, 2020
    Ascena Retail Group, Inc. (Nasdaq: ASNA) (“ascena” or the “Company”), a leading national specialty retailer for women’s and girls’ apparel, and SB360 Capital Partners, one of North America’s leading asset disposition specialists, today announced the commencement of store closing sales in all Catherines stores, a significant number of Justice stores, and a select number of Ann Taylor, LOFT, Lane Bryant and Lou & Grey stores. This includes all stores across brands in Canada and Puerto Rico. The Company has engaged SB360 Capital Partners as its consultant to conduct the sales at most of the locations.
  • 1847 Holdings’ Subsidiary Closes Revolving Credit Facility
    July 22, 2020
    1847 Holdings LLC (OTC: EFSH), a publicly traded holding company platform that combines the attractive attributes of private, lower-middle market businesses with the liquidity and transparency of a publicly traded company, announced today that its subsidiary Asien’s Appliance, Inc. has closed a secured $400 thousand revolving credit facility with Arvest Bank of Conway, AR.
  • WellSky Gains New Investment From TPG and Leonard Green & Partners to Advance Technology Innovation in Post-Acute and Community Care
    July 22, 2020
    WellSky, a global health and community care technology company, and TPG Capital, the private equity platform of alternative asset firm TPG, announced today they have entered into a definitive agreement to add Leonard Green & Partners, L.P. (LGP), a private equity firm, as a new capital partner. As part of the transaction, TPG Capital will make a new equity investment in WellSky. The partnership creates a new capital structure for the company and will accelerate WellSky’s long-term mission of realizing care’s potential across the continuum.
  • J.P. Morgan Asset Management and Hazeltree Partner to Streamline Cash and Liquidity Management for Private Fund Managers
    July 22, 2020
    J.P. Morgan Asset Management (NYSE: JPM) and Hazeltree, the leading provider of cloud-based treasury solutions for investment managers, have partnered to deliver a unique and integrated cash and liquidity management platform to private equity, private credit, real estate and infrastructure funds. J.P. Morgan Asset Management clients are now able to access Hazeltree’s technology to effortlessly manage multi-bank relationships across their entire fund structures and seamlessly access J.P. Morgan’s liquidity products
  • CVC Credit Partners Closes Apidos XXXIII CLO Fund
    July 22, 2020
    CVC Credit Partners ("CVC Credit") is pleased to announce that it has closed Apidos XXXIII, a Collateralized Loan Obligation ("CLO") fund totalling $400 million. This is the second CLO fund CVC Credit has closed in the last month, following the closing of Cordatus XVII in June. Adipos XXXIII, was arranged by Goldman Sachs and is CVC Credit's second new-issue to close in the U.S. in 2020. As with previous Apidos CLOs, the fund is primarily comprised of broadly syndicated First Lien Senior Secured Loans.
  • Global Eagle Reaches Agreement on Definitive Asset Purchase Agreement with Substantial Majority of Senior Secured First-Lien Term Loan Investors
    July 22, 2020
    Global Eagle Entertainment Inc. announced that it has agreed upon a definitive “stalking horse” asset purchase agreement under which substantially all of the Company’s assets will be acquired for total consideration of $675 million by an entity established at the direction of holders of approximately 90% of the Company’s senior secured first-lien term loans, led by lenders managed by Apollo Global Management, Inc., Eaton Vance Management, Arbour Lane Capital Management, L.P., Sound Point Capital Management, Mudrick Capital Management, or one or more of their respective affiliates, and certain funds and accounts under management by BlackRock Financial Management, Inc. 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.
  • First Business Capital Corp. Announces Two Closed Asset-Based Lending Deals Totaling $11,800,000
    July 22, 2020
    Mike Colloton, Vice President – Business Development Officer, announced a closed and funded turnaround financing deal involving a $5,720,000 revolving line of credit facility and real estate term loan for a distributor of electric motors in Illinois. Michael Doyle, Vice President – Business Development Officer, announced a closed and funded refinance deal involving a $6,080,000 revolving line of credit facility, equipment term loan, and real estate term loan for a manufacturer of coaxial cables in Mississippi.
  • Encina Business Credit Provides $70 Million Revolving Credit Facility to a Leading Processor and Distributor of Milk
    July 22, 2020
    Encina Business Credit, LLC (EBC) announced today that it has provided a $70 million senior secured revolving credit facility to a leading national processor and distributor of branded and private label milk. The revolver was provided to help finance the acquisition of the company and to provide ongoing working capital financing. The facility consists of a senior secured revolving line of credit based on accounts receivable and inventory.
  • Stenn Closes Trade Finance Program for USA Importer of Hand Sanitizing Stations
    July 22, 2020
    Stenn recently concluded a seven-figure trade receivables finance program for a US importer of hands-free hand sanitizing stations from a manufacturer based in Europe. The importer sells the devices for use in hotels, office buildings, retail locations and other public spaces to accommodate safe personal interaction in the recovery from the Covid-19 pandemic.
  • Southern Energy Corp. Announces Amended and Restated Credit Facility
    July 21, 2020
    Southern Energy Corp. ("Southern" or the "Company") (TSXV: SOU), an established natural gas and oil producer with U.S.-based assets, today announces that Southern Energy Corporation (Delaware), a wholly-owned subsidiary of the Company, has completed the redetermination of its senior secured credit facilities (the "Credit Facility"). The Company and its lender have agreed to amend the Credit Facility effective as of July 20, 2020 pursuant to an Amended and Restated Credit Agreement (the "Agreement").
  • AKITA Announces Credit Facility Amendments
    July 21, 2020
    AKITA Drilling Ltd. (the "Company") announces it has entered into an amending agreement to its December 19, 2018 credit facility agreement (the "Amended Facility") with a syndicate of lenders comprised of ATB Financial, The Bank of Nova Scotia, HSBC Bank Canada and the Toronto-Dominion Bank (the "Lenders").
  • Hilco Redevelopment Partners Hires Jasmine E. Sessoms to Lead Corporate Affairs as Senior Vice President for the PES Redevelopment Project in Philadelphia
    July 21, 2020
    Hilco Redevelopment Partners (HRP)--the real estate development unit of Hilco Global that remediates and redevelops complex and obsolete industrial properties--announced today that Jasmine E. Sessoms has joined the company’s Philadelphia office as Senior Vice President of Corporate Affairs. A lifelong Philadelphian who was born and raised in the Point Breeze section of Philadelphia, Sessoms will oversee the company’s community and government outreach efforts as HRP executes on its plan to clean up and transform the former PES refinery site into a state-of-the art, multi-modal logistics campus.
  • Bryant Park Capital Advises ProMed Capital Ventures in Sale to Experity Ventures
    July 21, 2020
    Bryant Park Capital ("BPC"), a leading middle-market investment bank, announced today that ProMed Capital Ventures, LLC ("ProMed" or the "Company"), a leading provider of financing to medical practices and facilities in the United States, has been sold to Experity Ventures, LLC, the parent company for several specialty finance and legal funding related services businesses in the United States, including Nexify Holdings, Medsolve Financial Group, and Thrivest Legal Funding, LLC dba Thrivest Link. The financial terms of the transaction were not disclosed. BPC served as exclusive financial advisor to ProMed.
  • Great Rock Capital Closes $20 Million Credit Facility with Horsburgh & Scott
    July 21, 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 credit facility with Horsburgh & Scott, a manufacturer of mission critical, custom engineered gears and gearboxes utilized in heavy industrial machinery. The capital provides Horsburgh & Scott with additional liquidity to support their growing platform. The tailored facility includes a traditional term loan, as well as a revolver and delayed draw term loan.
  • Comvest Credit Partners Announces Investment in Seven Seas Water
    July 21, 2020
    Comvest Credit Partners (“Comvest”) has acted as Co-Lead Arranger and Lender in providing a Senior Credit Facility (the “Financing”) to Seven Seas Water, a developer, owner and operator of critical water infrastructure. The Financing was used to support the acquisition by Morgan Stanley Infrastructure Partners and refinance certain existing debt.
  • Ted Bojorquez Joins California Bank of Commerce to Lead Silicon Valley Region
    July 21, 2020
    Ted Bojorquez has joined California Bank of Commerce (CBC) as Executive Vice President and Manager for the bank’s Silicon Valley Region, where he will focus on providing creative solutions to mid-sized businesses.
  • Wells Fargo Names Ather Williams III as Head of Strategy, Digital and Innovation
    July 21, 2020
    Wells Fargo & Company (NYSE: WFC) today announced that Ather Williams III will join the company in October 2020 as head of Strategy, Digital and Innovation. Williams will report to CEO Charlie Scharf and serve on the company’s Operating Committee.
  • Wells Fargo Names Mike Santomassimo as New Chief Financial Officer; John Shrewsberry to Retire from the Company Following Transition
    July 21, 2020
    Wells Fargo & Company (NYSE: WFC) announced today that Mike Santomassimo will join the company in fall 2020 as Chief Financial Officer. Santomassimo will report to CEO Charlie Scharf and serve on the company’s Operating Committee. He will succeed John Shrewsberry, who has announced plans to retire following a successful 22-year career with Wells Fargo, including the last six years as the company’s CFO. Shrewsberry will continue in his role as CFO until Santomassimo joins the company and will assist with the transition thereafter.
  • Hilco Report Sees Strong Used Chassis Market, Competitive Acquisitions Ahead as Intermodal Volumes Normalize ​
    July 20, 2020
    Hilco Global has issued a timely report on the impact of diminished import/export volume on the chassis segment of the intermodal industry, how providers and end-users have responded during the current crisis, and the likely path forward for industry recovery over the last two quarters of this year and into 2021.
  • MainStreet Bank Appoints Abdul Hersiburane New President
    July 20, 2020
    MainStreet Bancshares, Inc., (Nasdaq: MNSB) parent company of MainStreet Bank announce the promotion of Abdul Hersiburane, Executive Vice President and Director of Business Banking, to the role of President. Mr. Hersiburane replaces Charles (Chris) Brockett, who remains actively engaged at the parent company as a director and President.
  • BJ Services, LLC and Affiliates Commence Voluntary Chapter 11 Process
    July 20, 2020
    Kirkland & Ellis LLP is serving as legal counsel to BJ Services. PJT Partners has acted as investment banker and financial advisor to the Company. Ankura Consulting Group, LLC is acting as restructuring advisor to the Company. Simmons Co. is acting as advisor in the sale of the cementing business.
  • Capital Financial Global Rescinds Merger Agreement With Affiliated Funding Corp, Exits Invoice Factoring Business to Avoid Economic Impact of COVID-19
    July 20, 2020
    Capital Financial Global, Inc. (OTC Pink: CFGX), announced today that it has rescinded its merger with Affiliated Funding Corporation and is exiting the invoice factoring business to avoid potential losses and market risk associated with the economic impact of COVID-19.
  • Hancock Whitney Agrees to Sell $497 Million in Energy Loans
    July 20, 2020
    Hancock Whitney Corporation (Nasdaq: HWC) today announced it has agreed to sell $497 million of energy loans to certain funds and accounts managed by Oaktree Capital Management, L.P. The sale includes reserve-based (RBL), midstream and nondrilling service credits. The company expects to receive proceeds of $257.5 million from the sale of these loans upon satisfaction of certain closing conditions.
  • Global Crossing Airlines Signs with Leading Supplier for Aviation Fuel Credit Facility and Fuel Risk Management Services
    July 20, 2020
    Global Crossing Airlines Inc. (TSXV: JET) (the "Company" or "GlobalX") has signed a $1 million credit line facility (the "Facility") with AEG Fuels ("AEG"), a Miami based supplier of fuel management and pumping capabilities at over 3000 airports worldwide. AEG has been in fuel services business for over 30 years and works with over 2500 customers worldwide.
  • KPS Capital Partners Agrees To Acquire Substantially All Of The Assets Of Briggs & Stratton Corporation, Including Equity Of Foreign Subsidiaries
    July 20, 2020
    KPS, through an affiliate, has also agreed to invest $265 million in a FILO tranche of Briggs & Stratton's Debtor in Possession ("DIP") financing to support the Company's operations. Upon the entry of a final order approving the DIP facility, KPS will have the right to "credit bid" its $265 million participation in the DIP financing in connection with the proposed acquisition of Briggs & Stratton. Further, Wells Fargo has agreed to continue to provide floorplan financing to support Briggs & Stratton's customers under KPS' ownership, and a syndicate of banks including Wells Fargo, Bank of America, BMO Harris Bank and PNC Business Credit has committed to provide exit financing to Briggs & Stratton.
  • FocalPoint Advises Horsburgh & Scott on its Refinancing by Great Rock Capital
    July 20, 2020
    The Horsburgh & Scott Co. (“H&S” or the “Company”), a leading manufacturer of custom engineered, large-diameter gears and gearboxes for heavy industrial machinery, has raised $20 million in debt financing from Great Rock Capital Partners Management, LLC (“Great Rock”) to refinance its existing debt facility and provide additional capacity for anticipated growth. H&S is a portfolio company of GenNx360 Capital Partners, LLC (“GenNx360”). FocalPoint Securities, LLC (“FocalPoint”) served as the exclusive financial advisor to the Company.
  • Cargojet Announces $600 Million Revolving Credit Facility
    July 20, 2020
    The credit facility is co-led by Royal Bank of Canada, CIBC and Bank of Nova Scotia. Other lenders include National Bank, Bank of Montreal, Laurentian Bank of Canada and ATB Financial.
  • Alleon Healthcare Capital Provides a $500,000 Medical Accounts Receivable Financing Facility to an Oncology Center in California
    July 20, 2020
    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 $500,000 medical accounts receivable financing facility with a specialty oncology clinic (“Company”) in California.
  • J. Jill Struggles to Stay Solvent Just Three Years After IPO
    July 20, 2020
    Even in a world of retail upheaval, J. Jill Inc. has had a more dramatic ride than most -- and that was before the pandemic. Just three years after a highly anticipated initial public offering, J. Jill’s stock is flirting with zero and the company is trying to fend off bankruptcy. The women’s clothing chain warned its survival was in doubt a month ago after violating terms of its loans, and said Thursday its lenders extended a promise to hold off on taking action until next wee
  • Better Choice Company Announces New $7.5 Million Revolving Credit Facility with Citizens Bank
    July 20, 2020
    Better Choice Company (OTCQB: BTTR) (“Better Choice”), an animal health and wellness company, today announced that it has entered into a new $7.5 million two-year revolving credit facility (the “New Credit Facility”) with Citizen’s Business Bank (“Citizen’s Bank”) to support its future growth initiatives. The New Credit Facility matures on July 5, 2022 and bears an annual interest rate of LIBOR plus 250 basis points.
  • Petrus Resources Announces Second Lien Term Loan Extension, Extension to Credit Facility and Third Quarter 2020 Capital Budget
    July 20, 2020
    Petrus Resources Ltd. ("Petrus" or the "Company") (TSX: PRQ) is pleased to announce the concurrent extension of its second lien term loan (“Term Loan”) and Revolving Credit Facility ("RCF") and the completion of the RCF lenders' 2020 annual review. The Company’s board of directors has also approved its third quarter 2020 capital budget. Petrus has entered into an amending agreement with Macquarie Bank Limited to extend the $35 million Term Loan maturity date to July 31, 2021.
  • CommerceWest Bank was approved for the Main Street Lending Program
    July 20, 2020
    CommerceWest Bank (OTCBB: CWBK) was approved by the Federal Reserve to participate in the Main Street Lending Program (MSLP). The Bank is participating in the program to assist financing for both existing clients and non-clients. Only a handful of Banks in the state of California are currently participating and accepting new clients through this program.
  • Sylogist Announces $40 Million Credit Facility to Target Acquisitions
    July 20, 2020
    Sylogist Ltd. (TSXV: SYZ) ("Sylogist" or the "Company"), a leading provider of cloud based ERP and CRM software solutions to the public sector, is pleased to announce that it has entered into a commitment letter with a Canadian chartered bank to obtain access to a $40 million credit facility. The commitment includes capacity to expand the credit facility subject to certain terms and conditions. The primary purpose of the credit facility is to fund acquisitions. The credit facility can also be used for general corporate purposes.
  • Bruin E&P Partners, LLC Notice of Comprehensive Prepackaged Restructuring Transaction
    July 20, 2020
    Bruin E&P Partners, LLC and its subsidiaries ("Bruin" or the "Company"), an exploration and production company with assets in the Williston Basin, North Dakota, today announced that it has the support of more than two-thirds of all its funded debt creditors, as well as its current equity holders, for a restructuring transaction that will eliminate over $840 million of the Company's funded debt. Kirkland & Ellis LLP is serving as legal counsel to Bruin, PJT Partners LLP is serving as financial advisor, AlixPartners LLP is serving as restructuring advisor, and Jackson Walker L.L.P. is serving as local legal counsel.
  • Encina Business Credit Provides $25 Million Facility to a Leading Distributor and Processor
    July 20, 2020
    Encina Business Credit, LLC (EBC) announced today that it has provided a $25 million senior secured credit facility to a value-added master steel distributor and processor. The facility consists of a senior secured revolving line of credit based on accounts receivable and inventory, plus a senior secured term loan.
  • Samuel Kessler Joins Community Bank of the Chesapeake as Vice President, Commercial Loan Officer in Orange, VA and Surrounding Markets
    July 20, 2020
    Community Bank of the Chesapeake is pleased to welcome Sam Kessler as Vice President, Commercial Loan Officer. In this role, he will focus on generating business lending opportunities while building banking relationships. Sam will serve the Orange, VA and the surrounding markets, including Spotsylvania, Culpeper, Charlottesville and more.
  • AlixPartners Hires Retail Industry and Digital Transformation Specialist Brian Kalms as a Managing Director
    July 20, 2020
    AlixPartners, the global consulting firm, announced that Brian Kalms has joined as a Managing Director. Brian will focus on helping retail clients achieve business transformation through strategic technology innovation. Brian, who will be based in London, brings to AlixPartners more than 30 years of experience in management consulting and technology strategy. He has held senior leadership roles at Accenture and most recently at Elixirr, where he was the Lead Partner for Retail and Consumer and helped build the firm’s retail practice.
  • SierraConstellation Partners Continues National Expansion with Three Promotions and Senior Seattle Hire
    July 20, 2020
    Curt Kroll has been promoted to Managing Director. During his tenure at SCP, Curt has served as Chief Restructuring Officer of National Stores and interim CFO at David’s Bridal, among other assignments. Miles Staglik has been promoted to Senior Director. In addition to his prowess as a performance improvement and turnaround advisor, Miles has been a dedicated mentor to the rising junior professionals at SCP. Tim Bossidy has been promoted to Senior Director. Tim has provided valuable financial counsel to his clients informed by his years as an investment banker, and has spearheaded SCP’s expansion into the maturing cannabis industry.
  • Amicus Therapeutics Secures $400 Million Non-Dilutive Debt Financing with Hayfin Capital Management
    July 20, 2020
    Amicus Therapeutics (Nasdaq: FOLD), a global, patient-dedicated biotechnology company focused on discovering, developing and delivering novel medicines for rare diseases, today announced that it has executed a definitive agreement for a $400 million credit facility with Hayfin Capital Management (“Hayfin”). The strategic financing allows Amicus to deliver on its mission for patients and shareholders and places it firmly on a path to profitability and its vision to become one of the world’s leading biotechnology companies focused on rare genetic diseases.
  • Onex Continues to Grow its Credit Platform with Two New Senior Hires
    July 16, 2020
    Onex Corporation (“Onex”) (TSX: ONEX) and Onex Credit have appointed Clint Comeaux as Head of High Yield Credit and Tom Higbie as Portfolio Manager for the Opportunistic Credit team. Mr. Comeaux and Mr. Higbie’s appointments are the latest of several new hires that will build upon Onex Credit’s well-established core bank loan and CLO businesses. These newly created positions will report to Stuart Kovensky and Jason New, Co-CEOs of Onex Credit.
  • Owl Rock Appoints Alexis Maged As Head of Credit and Jeff Walwyn As Head of Non-Tech Underwriting
    July 16, 2020
    Owl Rock Capital Partners ("Owl Rock"), a leading alternative asset manager, announced today the appointments of Alexis Maged,­­­ as Head of Credit, and Jeff Walwyn, as Head of Non-Tech Underwriting. Maged and Walwyn will assume their new roles effective immediately. In his newly created role as Head of Credit, Maged will oversee Owl Rock's credit underwriting, portfolio management and workout functions across the firm.
  • Tradewind Finance Leverages International Capabilities to Fund Consultancy Firm in Hong Kong in Local Currency, HKD
    July 16, 2020
    Tradewind Finance, in a deal debuting their funding capabilities for another local currency, has provided a factoring facility in HKD for a consultancy firm based in Hong Kong that provides financial advisory services to global banks and other financial institutions located in the region. The deal adds HKD to the roster of currencies in which Tradewind structures their cash flow arrangements, including USD, EUR, GBP, and HUF.
  • Safeer Named Managing Director at Newpoint
    July 16, 2020
    Newpoint Advisors Corporation, a financial consulting firm dedicated to improving troubled and underperforming businesses, today announced that David Safeer, a cash flow consultant with more than 20 years of experience, has been named Managing Director of the Salt Lake City office.
  • CIT Leads $126 Million Financing for 108-Megawatt Solar Project in North Carolina
    July 16, 2020
    CIT Group Inc. (NYSE: CIT) today announced that its Power and Energy unit served as lead arranger on a $126 million financing for the 108-megawatt (MW) direct current Trent River Solar project in Pollocksville, North Carolina. The financing was arranged on behalf of solar project developer Pine Gate Renewables, a leading utility-scale solar developer headquartered in Asheville, North Carolina.
  • Monroe Capital Supports ATTOM Data Solutions’ Acquisition of Home Junction, Inc.
    July 16, 2020
    Monroe Capital LLC today announced an increase in the credit facility to ATTOM Data Solutions (“ATTOM”) to support the acquisition of Home Junction, Inc. ATTOM is an existing portfolio company of Lovell Minnick Partners. Based in San Diego, CA, Home Junction Inc. is a real estate data technology company that specializes in building high quality geographic boundary datasets for neighborhoods, school attendance zones, subdivisions and more.
  • Going-Out-Of-Business Sales are Now Underway at All Gordmans & Stage Stores
    July 16, 2020
    Joint venture partners Gordon Brothers and Hilco Merchant Resources announced that they have commenced “Going-Out-of-Business” sales at 720 Stage Stores, Inc. locations including Gordmans and all associated brand stores across the United States. The Company filed for Chapter 11 bankruptcy protection in May in order to explore recapitalization options as part of a larger restructuring strategy. The challenging preexisting market conditions were exacerbated by the COVID-19 pandemic and prevented the retailer from obtaining the required financing to continue operating stores outside of bankruptcy.
  • Gateway Trade Funding Announces the Completion of 10 Transactions For US and Canadian Importers and Suppliers
    July 16, 2020
    Gateway Trade Funding, a PO and trade financing company, is happy to announce that it has recently completed the following purchase order transactions: a $500,000 facility for a US Importer of chemicals selling to US OEMs; $500,000 facility for a US importer of automotive parts selling to US OEMs; $1,500,000 facility for a US importer of PPE products selling to the US government and US corporations and more.
  • Cirque du Soleil Said to Accept Lenders’ Bid, Sidelining TPG
    July 15, 2020
    Cirque du Soleil Entertainment Group, which is restructuring under court protection in Canada, accepted a recapitalization offer from a group of lenders, people with knowledge of the matter said. The ad hoc committee of creditors, which represents holders of about $760 million in Cirque debt, formally presented a “credit bid” that would see lenders inject at least $300 million of new capital into the live-performance company to eventually restart its shows. The offer, previously reported by Bloomberg, was accepted by a committee of Cirque’s board Tuesday night, the people said, asking not to be identified because the information is private.
  • JCPenney Announces Organizational Restructuring
    July 15, 2020
    J. C. Penney Company, Inc. (OTCMKTS: JCPNQ) today announced that it is aligning its workforce with its store optimization strategy and reduced store footprint. JCPenney has identified 152 store closures following a comprehensive evaluation of store performance and strategic fit for the Company and is having ongoing productive negotiations with landlords. 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.
  • Nasuni Raises $40M in Funding
    July 15, 2020
    Nasuni, a Boston, MA-based provider of cloud file storage solutions, secured $40 million in funding. This included an additional $25 million in new equity financing from family offices, venture capital firms and corporate venture arms, Goldman Sachs, Telstra Ventures, Northbridge Venture Partners and others, and a $15 million debt facility from Silicon Valley Bank.
  • Ares Management, Cyrus, and Keyframe Partner with Wunder Capital to Invest in the U.S. Commercial Solar Market
    July 15, 2020
    Wunder Capital (“Wunder”), the nation’s leader in commercial and industrial solar financing, today announced it has partnered with funds managed by Ares Management Corporation’s Infrastructure and Power strategy (“AIP”), Cyrus Capital Partners (“Cyrus”), and Keyframe Capital (“Keyframe”) to provide financing for more than $100 million in commercial solar loans. The commitment represents a boost for the commercial solar market.
  • Gateway Trade Funding Completes Two New Transactions
    July 15, 2020
    Gateway Trade Funding recently completed a $1,000,000 purchase order facility for a Canadian company selling specialist towels and linens to hotels and partnered with a factoring company to help provide a $500,000 purchase order facility to a three-year-old Midwest-based winter athletic equipment and apparel company.
  • More Than 50% of Debt Collection Agencies Thrived Under COVID-19
    July 15, 2020
    Over half the collection agencies surveyed not only thrived during the pandemic, but actually outperformed their pre-pandemic metrics in a nationwide survey conducted by Prodigal Technologies, Inc. Prodigal, a debt collection AI software company, surveyed accounts receivable management (ARM) agencies about the impact of the coronavirus pandemic on their collections operations. Collection agencies from 30 U.S. states participated in the survey.
  • Alvarez & Marsal Strengthens Asia Restructuring Practice With Senior Appointment
    July 15, 2020
    Leading global professional services firm Alvarez & Marsal (A&M) has strengthened its Asia restructuring practice with the appointment of Edward Middleton as Managing Director based in Hong Kong. This appointment demonstrates A&M’s commitment to bolstering the firm’s growing capabilities in Asia.
  • Integer Amends Its Senior Secured Credit Facility To Continue Strategy Execution Throughout The Pandemic
    July 15, 2020
    Integer Holdings Corporation (“Integer”) (NYSE: ITGR) is pleased to announce that it has successfully completed an amendment to its senior secured credit facility as a precautionary step during the COVID-19 pandemic. Integer expects to maintain compliance with its covenant net leverage ratio and requested a covenant modification as a precautionary measure to provide additional cushion to allow for continued bolt-on M&A activity and protect against a prolonged pandemic.
  • Nomad Royalty Company Secures up to US$75 Million Revolving Credit Facility
    July 15, 2020
    Nomad Royalty Company Ltd. ("Nomad" or the "Company") (NSR.TO) (NSRXF) is pleased to announce that it has entered into an agreement with The Bank of Nova Scotia ("Scotia"), Canadian Imperial Bank of Commerce ("CIBC") and The Royal Bank of Canada ("RBC") for a $US50 million revolving credit facility ("Facility") with the option to increase to US$75 million , subject to satisfaction of certain conditions.
  • Leading M&A and Private Equity Attorney Jay Coogan Joins Ballard Spahr in Philadelphia
    July 14, 2020
    Jay Coogan—a well-known attorney who advises clients in mergers and acquisitions, private equity transactions, securities offerings, capital financings, and corporate governance matters—has joined Ballard Spahr as a partner in the Business and Transactions Department, Firm Chair Mark Stewart announced today.
  • Sterling National Bank Introduces Banking-as-a-Service Program
    July 14, 2020
    Sterling Bancorp (NYSE: STL) announced that its principal subsidiary Sterling National Bank (“Sterling”) is introducing its new Banking-as-a-Service (“BaaS”) program, which provides a wide range of customized products, payment and back office capabilities for FinTech and other non-bank institutions. The launch of BaaS aligns with Sterling’s continued focus on developing innovative solutions for small and middle market enterprises and working with leading technology solutions companies to produce world-class digital capabilities.
  • Seacoast Banking Corporation of Florida Announces New Hire, Austen Carroll, to Lead Commercial Banking; Julie Kleffel Promoted to Chief Banking Officer
    July 14, 2020
    Seacoast Banking Corporation of Florida (NASDAQ: SBCF) (the “Company” or “Seacoast”) today announced it has hired Austen Carroll as executive vice president and chief lending officer. In his newly-created role, Carroll will lead the commercial banking division at Seacoast. Additionally, Julie Kleffel, the Company’s current community banking executive and central Florida market president has been promoted to chief banking officer of the Company.
  • Gordon Brothers Adds Samantha Findley to Australian Team
    July 14, 2020
    Gordon Brothers, the global advisory, restructuring and investment firm, has appointed Samantha Findley to be Director, Special Situations in Australia. Findley will help clients to use the strength of the Gordon Brothers balance sheet and the company’s expert knowledge to resolve liquidity issues and execute restructuring programs. Findley brings more than 15 years of experience as a workout banker, restructuring and insolvency professional and client advisor. In her new role, she will steer clients through some of their most mission-critical operational challenges and lead deals from initial concept and origination, to final execution and portfolio management.
  • Great Rock Capital Upsizes Mersino Management Credit Facility to $40 Million
    July 14, 2020
    Great Rock Capital, an asset-focused commercial finance company specializing in middle market lending, announced that it has renewed and expanded its senior secured credit facility for Mersino Management, providing an additional $5.1 million of borrowing capacity. Mersino is a leading provider of pumping and dewatering services. The increased borrowing capacity provides Mersino with additional liquidity to support their growing platform. The tailored facility includes a traditional term loan, as well as a revolver and delayed draw term loan.
  • A&G Realty Partners Begins Marketing of 137 Modell's Store Leases
    July 14, 2020
    A&G Real Estate Partners (A&G) has begun marketing 137 Modell’s Sporting Goods store leases in nine Northeastern and Mid-Atlantic states and the District of Columbia in connection with the 111-year-old retailer’s voluntary Chapter 11 bankruptcy filing and liquidation.
  • A&G Offering Four Neiman Marcus Leases as Part of Retailer's Bankruptcy Proceedings
    July 14, 2020
    A&G Real Estate Partners, working on behalf of Neiman Marcus Group in the retailer’s bankruptcy proceedings, is marketing four luxury department store leases in California, Washington, Florida and Washington, D.C. Offering long-term, multiple-option leases, the buildings are situated in prime, high-visibility retail districts or shopping centers, said Emilio Amendola, Co-President of Melville-based A&G, which provides real estate advisory services to many of the nation’s most prominent retailers and corporations in both healthy and distressed situations.
  • Concord Financial Advisors, LLC Announces the Closing of Four Senior Debt Transactions 2Q of 2020
    July 14, 2020
    In the midst of the Covid-19 pandemic and uncertain economic forecast, Concord Financial Advisors, LLC announces the closing of four senior debt transactions in the second quarter of 2020.
  • Startek Amends Term Loan and Revolving Credit Facility Agreement
    July 13, 2020
    Startek Inc. (NYSE:SRT), a global provider of customer experience management solutions, has entered into an amendment agreement for its senior term loan and revolving credit facility. As part of the amended and restated facility agreement signed by one of its wholly owned subsidiaries, Startek has agreed to accede to the facilities agreement as an additional guarantor. The agreement continues to provide for a $140 million term loan facility along with a $20 million revolving credit facility.
  • Accord Financial Corp. Announces its Participation in Export Development Canada's Business Credit Availability Program Guarantee
    July 13, 2020
    Accord Financial Corp. ("Accord Financial") today announced the launch of its participation in the Export Development Canada (EDC) Business Credit Availability Program (BCAP) Guarantee. The EDC BCAP Guarantee provides eligible small and medium sized companies with loans of up to $6.25 million.
  • RTW Retailwinds, Inc. Voluntarily Files Chapter 11 Bankruptcy
    July 13, 2020
    RTW Retailwinds, Inc. [OTC PINK:RTWI], an omni-channel specialty apparel retail platform for powerful celebrity and consumer brands, today announced that it and its subsidiaries (collectively, the “Company”) have filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the District of New Jersey (the “Bankruptcy Court”). The Company has filed customary motions with the Bankruptcy Court that will authorize, upon Bankruptcy Court approval, the Company’s ability to maintain operations in the ordinary course of business, including, among other things, the payment of employee wages and benefits without interruption, payment of suppliers and vendors in the normal course of business, and the use of cash collateral.
  • Maxim Commercial Capital Funds Deals in 30 States During 2Q 2020
    July 13, 2020
    Maxim Commercial Capital is pleased to report it funded hard asset-secured financings for small and mid-sized businesses (SMBs) in 30 states across the United States during the second quarter of 2020. After pivoting quickly in March to safer-at-home working conditions for its 30+ team members, Maxim experienced a steady increase in applications from equipment brokers and vendors for their borrowers with challenged credit.
  • Huntington Business Credit Announces Credit Facility for Midwest Iron and Metal Company LLC
    July 13, 2020
    Huntington Business Credit announced it closed a new $10,500,000 credit facility with Midwest Iron and Metal Company LLC on May 29, 2020. Midwest Iron and Metal Company LLC is owned by Merit Capital Partners, a private equity firm based in Chicago, Illinois. Proceeds of the facilities were used to refinance existing debt and provide ongoing working capital growth financing.
  • Siena Lending Group Announces Second Quarter Results
    July 13, 2020
    Siena announced $45M in new facilities. 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 and our Siena Healthcare Finance division delivered in Q2 2020. In firm news, we are excited to share two strategic moves to further grow and strengthen our team. Siena closed two deals for $25 million in the pharmaceuticals and beauty industries.
  • Hollywood Bed & Spring Mfg. Co., Inc. Acquires Linwood Hospitality
    July 13, 2020
    Hollywood Bed & Spring Mfg. Co., Inc., ("Hollywood" or the "Company") has acquired the Linwood Hospitality division ("Linwood") from Leggett & Platt, Inc. to become the leading supplier of bedding support products to the hospitality and contract markets. FocalPoint Securities, LLC ("FocalPoint") served as exclusive investment banker to the Company.
  • Haynes and Boone Advises AYRO in $15 Million Offering
    July 13, 2020
    A Haynes and Boone, LLP deal team represented Austin-based AYRO, Inc. (Nasdaq: AYRO), a manufacturer of light-duty, emissions-free electric vehicles, in a $15 million registered direct offering of its common stock, which closed July 9, 2020. Founded in 2017, AYRO designs and manufactures compact, sustainable electric vehicle solutions for urban and community transport, local on-demand and last-mile delivery, closed-campus mobility, and government use.
  • Bed Bath & Beyond Announces Plans to Permanently lose 200 Stores Over Next Two Years
    July 13, 2020
    Bed Bath & Beyond Inc. plans to close approximately 21% of its namesake stores, or 200 locations, over the next two years, the company announced Wednesday. The New Jersey-based home goods retailer, which also operates buybuy Baby, Harmon Face Values and World Market, said the closing stores would "mostly" be Bed Bath & Beyond stores during an earnings call with analysts.
  • Crestmark Provides More Than $57.9 Million in Commercial Financing to 294 Businesses in the Second Half of June
    July 13, 2020
    Crestmark secured a total of $16,416,610 in ABL financial solutions for 14 new clients; Crestmark Equipment Finance provided $14,362,914 in four new lease transactions; Crestmark Vendor Finance provided $21,028,090 in 273 new lease transactions; and the Government Guaranteed Lending group provided $6,178,000 in financing for three new clients in the second half of June.
  • Global Net Lease Completes $88 Million Whirlpool Financing
    July 13, 2020
    Global Net Lease, Inc. (NYSE: GNL) ("GNL" or the "Company") announced today that the Company, through certain of its subsidiaries, entered into a financing transaction with a syndicate of regional banks led by BOK Financial and borrowed an aggregate of $88 million secured by six (6) properties that are leased to Whirlpool Corporation, a Fortune 200 company with a Moody's credit rating of Baa1.
  • White Oak Commercial Finance Increases Credit Facility by $4MM to Minority-Owned Telecommunications Group
    July 13, 2020
    White Oak Commercial Finance, LLC (“White Oak”), an affiliate of White Oak Global Advisors, LLC, announced its Government Contracting Finance group provided an additional $4MM in factor-based credit facility funding to a Washington DC-based telecommunications contracting firm. White Oak’s partnership with the company began in 2003, and the additional funding was used to support the company’s continued growth.
  • Essential Energy Services Announces Extension and Amendment of Its Credit Facility
    July 13, 2020
    Essential Energy Services Ltd. (TSX: ESN) (“Essential” or the “Company”) announces it has entered into an amending agreement to its June 26, 2018 credit facility agreement (together the “Amended Credit Facility”) with a syndicate of lenders comprised of National Bank of Canada, ATB Financial and Canadian Western Bank. The Amended Credit Facility provides Essential an extension of the maturity date of the revolving secured credit facility to June 30, 2022 along with revisions to certain terms and conditions.
  • Greenberg Traurig's Richard C. Kim Named to Secured Finance Network's 40 Under 40 List
    July 13, 2020
    Richard C. Kim, a corporate shareholder in the New York office of global law firm Greenberg Traurig, LLP, has been chosen as a recipient of the 2020 Secured Finance Network's (SFNet) 40 Under 40 Awards. Richard C. Kim, a corporate shareholder in the New York office of global law firm Greenberg Traurig, LLP, has been chosen as a recipient of the 2020 Secured Finance Network's (SFNet) 40 Under 40 Awards. According to SFNet, this global award recognizes "the best and brightest rising stars in secured finance."
  • Wolters Kluwer Lien Solutions Launches Technology Solution to Support Main Street Lending Program Participants
    July 13, 2020
    Wolters Kluwer Lien Solutions has launched iLien for Main Street – a technology solution devoted to helping U.S. lenders optimize their due diligence and lien management efforts when securing loans for small and medium-sized businesses under the Main Street Lending Program (Program). The Program is part of the U.S. Coronavirus Aid, Relief, and Economic Security Act (CARES Act).
  • TradeCap Partners Closes $350,000 Purchase Order Finance Facility for Midwest Paper Products Importer
    July 13, 2020
    TradeCap Partners recently facilitated the closing of a $350,000 Purchase Order Finance Facility for an importer of Paper Products based in Minnesota. The introduction was made to TradeCap through a factoring partner that had worked with the Company for close to a decade.
  • Bay Point Advisors Provides $3.05M DIP Loan to Solar Provider in Atlanta
    July 13, 2020
    Bay Point Advisors announces it has provided a multi-tiered, senior secured debtor-in-possession loan (“DIP Loan”) to Hannah Solar, LLC. The funds will allow Hannah Solar to consolidate its existing secured debt and obtain the working capital necessary to fund its operations during its reorganization process.
  • HealthEZ Has Completed a Majority Recapitalization by Abry Partners
    July 13, 2020
    Lincoln International is pleased to announce that The Araz Group, Inc. (d/b/a HealthEZ), a leading independent third-party administrator (TPA) of self-funded medical plans, has received an investment from Abry Partners LP, a private investment firm focused on investing in and building market-leading middle market businesses
  • National Bank of Commerce (NBC) Names Hansen to Commercial Banking Team
    July 13, 2020
    National Bank of Commerce (NBC), has expanded its commercial banking team by repositioning Cammy Hansen to VP – Senior Commercial Banker. She has been with the bank for nine years and in her new role will be responsible for building relationships with commercial customers to help the local businesses and communities prosper.
  • Suominen has Signed a Credit Facility Agreement Linked to Sustainability Targets
    July 13, 2020
    Suominen has entered into a single-currency syndicated revolving credit facility agreement of EUR 100 million with a maturity of three years with two one-year extension options. The lenders for the facility are Danske Bank A/S, Finland Branch and Nordea. The new credit facility includes leverage ratio and gearing as financial covenants.
  • Pascal Meysson Joins H.I.G. Capital as Head of Direct Lending in Europe
    July 13, 2020
    H.I.G. Capital, LLC ("H.I.G."), a leading global private equity investment firm with over €34 billion of equity capital under management, is pleased to announce today that Pascal Meysson has joined H.I.G. Capital as a Managing Director and Head of H.I.G. WhiteHorse Europe, H.I.G.’s direct lending European affiliate. Pascal has 24 years of investing experience overall including 16 years in the European direct lending market.
  • North Mill Capital Provides $1 Million to Rebel Green, LLC
    July 13, 2020
    The funds were used to pay off the previous lender and provide additional working capital for the company. Rebel Green, LLC is located in Mequon, Wisconsin and provides a broad line of natural, eco-friendly household cleaning products.
  • FocalPoint Advises Triad on its Recapitalization by J.P. Morgan Chase
    July 13, 2020
    Triad Manufacturing, Inc. (“Triad” or the “Company”) has successfully completed a refinancing with J.P. Morgan Chase Bank, N.A. (“J.P. Morgan”). FocalPoint Securities, LLC (“FocalPoint”) served as the exclusive investment banker to the Company. Triad designs, engineers, manufactures, and installs custom fixtures for leading brands across the retail landscape.
  • Signature Bank Expands West Coast Operations With Appointment of Executive Director and 45 Professionals Spanning 15 Private Client Banking Teams Yesterday
    July 10, 2020
    Signature Bank (Nasdaq: SBNY), a New York-based full-service commercial bank, announced today its expansion efforts in the greater Los Angeles market, complementing its San Francisco operations.
  • Birks Group Closes New Term Loan with Investissement Québec
    July 9, 2020
    The new term loan, which matures in July 2024 , is subordinated to the Company's existing senior secured revolver facility with Wells Fargo Capital Finance Corporation Canada ("Wells Fargo") and Crystal Financial LLC ("Crystal"). The loan bears an interest rate of 3.14% per annum, is repayable in 36 equal payments beginning in July 2021 and requires the Company to have a working capital ratio (defined as current assets divided by current liabilities excluding the current portion of operating lease liabilities) of at least 1.01, calculated on an annual basis.
  • Franchise Group, Inc. To Provide Debtor-in-Possession Financing to Tuesday Morning Corporation
    July 9, 2020
    Franchise Group, Inc. (NASDAQ: FRG) (“Franchise Group” or the “Company”) announced that it is providing Tuesday Morning Corporation (“Tuesday Morning”) with a $25 million debtor-in-possession (“DIP”) loan as part of its bankruptcy proceedings.
  • Osborne Named Managing Director at Newpoint
    July 9, 2020
    Newpoint Advisors Corporation, a financial advisory firm focused on small distressed companies, today announced that Aaron Osborne, an experienced chief financial officer, has joined the firm as managing director of the Dallas office.
  • Kayne Anderson Announces Expansion of Renewable Platform, Names Co-Heads of Renewable Investing
    July 9, 2020
    Kayne Anderson Capital Advisors, L.P. (“Kayne” or the “Firm”), announced today the continued expansion of its renewable investment platform with a series of solar investments in the second quarter. Over the last several years, Kayne has leveraged the firm’s deep energy and infrastructure expertise to expand its investment platform to pursue opportunities in renewable power and infrastructure. The firm has named Jon Levinson and J.C. Frey co-heads of Kayne’s renewable platform with Mr. Levinson leading the private renewable efforts and Mr. Frey leading the public markets strategies.
  • Antares Supports Parthenon Capital’s Investment in RxSense
    July 9, 2020
    Antares announced today that it served as lead left arranger and is acting as administrative agent on a senior secured credit facility to support Parthenon Capital’s growth recapitalization of RxSense.
  • Bridge Bank Expands Capital Finance Group with New Managing Director Timothy Carstens
    July 9, 2020
    Bridge Bank today announced it is expanding its Capital Finance group, which provides a full complement of asset-based lending solutions. The group now will be led by managing director Timothy Carstens, who joins Bridge Bank from Fifth Third Business Capital.
  • Tiger Group’s Ryan Davis Named to SFNet’s ‘40 Under 40’
    July 9, 2020
    Boston-based leader of firm’s Valuation Services division honored by peers in secured finance industry in annual awards program.
  • Breakout Capital Closes $20MM in Credit Facilities with Medalist Partners
    July 9, 2020
    Leading nationwide small business lender Breakout Capital announced today the completion of two senior secured credit facilities, totaling $20MM, with Medalist Partners, expanding and extending a current term loan facility and establishing a new term loan facility with attractive forward flow features with its long-time lending partner.
  • FTI Consulting Continues Investment in Turnaround & Restructuring Practice with Appointment of Daniel Wikel as Senior Managing Director
    July 8, 2020
    Based in Chicago, Mr. Wikel advises clients on corporate turnarounds and restructurings, lender workout situations, transaction advisory services/business assessments and raising capital. He has significant experience managing middle-market and large bankruptcy cases and related matters, and his financial and operational expertise spans strategic planning, capital advisory or investment analysis and identifying revenue enhancements and cost improvements.
  • Sur La Table to Restructure Its Retail Footprint and Complete a Going-Concern Sale via Voluntary Chapter 11 Process
    July 8, 2020
    Sur La Table (“the Company”), the leading retail destination since 1972 for those passionate about cooking and entertaining, today announced that it has filed voluntary petitions under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the District of New Jersey (the “Court”) to consummate a restructuring and going-concern sale of the Company, subject to Court approval.
  • Covenant Logistics Group Completes Asset Sale of Transport Financial Solutions Factoring Segment
    July 8, 2020
    Covenant Logistics Group, Inc. (NASDAQ/GS: CVLG) (“Covenant”) today announced the sale of the transportation factoring assets of its Transport Financial Solutions (“TFS”) segment to Triumph Business Capital for approximately $132.2 million, including contingent consideration of approximately $9.9 million. Triumph Business Capital is an indirect wholly owned subsidiary of Triumph Bancorp, Inc. (NASDAQ: TBK) (“Triumph”).
  • Business Capital Arranges Acquisition Financing for Scott’s Liquid Gold
    July 8, 2020
    Business Capital assisted Scott’s Liquid Gold (OTC: SLGD) in securing a $10 million credit facility with UMB Bank in conjunction with the acquisition of the Biz and Dryel laundry brands. This new credit facility replaces an existing Bank loan and further supports the working capital needs of the combined entities going forward.
  • Citizens M&A Advises Gunnison Tree Services
    July 8, 2020
    Citizens M&A Advisory served as exclusive financial advisor to Gunnison Tree Services on its recapitalization by Warren Equity Partners Citizens M&A Advisory served as the exclusive financial advisor to Gunnison Tree Services, LLC, a leading provider of comprehensive tree and vegetation management services, on its recapitalization by Warren Equity Partners, a Jacksonville, FL-based lower middle market private equity fund.
  • Taulia Appoints Christian Lindemann as Director of Supply Chain Finance EMEA
    July 8, 2020
    Taulia, the leader in working capital technology solutions has today announced the appointment of Christian Lindemann as Director of Supply Chain Finance EMEA. Christian is based in Switzerland and will be the EMEA region’s Working Capital Solutions Expert. In an all-encompassing role, Christian will use his deep Supply Chain Finance knowledge to support the sales, marketing, and product organizations to further strengthen Taulia’s solutions and presence in the market.
  • PNC Appoints Two to Executive Committee, Creates Chief Corporate Responsibility Post
    July 8, 2020
    Carole Brown will be head of PNC’s Asset Management Group and Richard K. Bynum will serve in the newly created role of chief corporate responsibility officer. Both executives will report to Bill Demchak, chairman, president and CEO.
  • Pear Therapeutics Announces $50 Million Credit Facility from Perceptive Advisors
    July 8, 2020
    Pear Therapeutics, Inc. (“Pear” or the “Company”) today announced that it closed a credit facility for up to $50 million from Perceptive Advisors (“Perceptive”), a leading life sciences investment firm. In connection with the financing, Pear issued warrants to Perceptive, and Sam Chawla of Perceptive received board observer rights. Armentum Partners served as the Company’s financial adviser in connection with this financing.
  • Nishen Radia & Clay Bryan Named as Top Private Equity Advisors
    July 8, 2020
    FocalPoint Partners, LLC, a leading middle market investment bank, is pleased to announce that Managing Partner Nishen Radia and Managing Director Clay Bryan have been named as "Top Private Equity Advisors" for Year 2020 by the Los Angeles Business Journal. Concurrent with this recognition, FocalPoint has formed a new Financial Sponsors Group to be led by Mr. Bryan in Los Angeles. The Financial Sponsors Group will service private equity groups and their portfolio companies with a comprehensive suite of M&A, financing, and restructuring services.
  • Tiger Group Sets Online Auction for Assets of Plastics Painting Plant
    July 8, 2020
    July 21 event features robotic systems with multiple applications, tanks, agitators, spray booths, plant support/materials handling equipment and more. Assets excess to the ongoing operations of Spectrum Industries of Grand Rapids, Mich.
  • Chicago Atlantic Provides $30 Million Credit Facility to Verano Holdings, LLC
    July 7, 2020
    Green Ivy Capital, LLC ("Green Ivy Capital"), an affiliate of Chicago Atlantic Group, LLC ("Chicago Atlantic"), announced today it acted as sole lead arranger and administrative agent on a new $30 million senior secured term loan facility (the "Term Loan Facility") for Verano Holdings, LLC ("Verano"). The Term Loan Facility was led by an affiliated fund of Chicago Atlantic with participation of other institutional lenders.
  • In Bankruptcy Filing, Lucky Brand Proposes Sale To Authentic Brands And Simon Property Group
    July 7, 2020
    Lucky Brand has negotiated a two-pronged primary asset purchase agreement, also known as a “stalking horse” bid, to sell its operating assets to SPARC Group LLC (SPARC), a jointly owned entity of Authentic Brands Group (ABG) and mall owner Simon Property Group, and Lucky Brand’s intellectual property assets to ABG-Lucky LLC, a newly formed subsidiary of Authentic Brands. The all-assets bid includes $140.1 million in cash, $51.5 million in credit from vendors and a trade receivables adjustment. The proposed sale was revealed in the July 3 Lucky Brand Dungarees LLC announcement of its voluntary Chapter 11 bankruptcy protection filing.
  • Immucor Announces Successful Refinancing
    July 7, 2020
    Immucor, Inc., a global leader in transfusion and transplantation diagnostics, today announced the successful completion of the refinancing of its capital structure. The transaction consists of a new revolving credit facility, first lien term loan, and second lien term loan, with additional support from existing majority shareholder TPG Capital. The newly issued debt instruments mature in 2025. Other terms of the refinancing were not disclosed.
  • McDermott Adds Five-Lawyer Restructuring Team from Katten
    July 7, 2020
    McDermott Will & Emery is adding a five-lawyer group from Katten Muchin Rosenman to its restructuring and insolvency practice in Dallas as the economic effects of the coronavirus crisis bring more bankruptcy work for Big Law firms. Katten partner Charles “Chuck” Gibbs leads the team joining McDermott, and will head its Dallas-based restructuring practice. Mark Patterson and Eric Seitz are also making the move from Katten joining as counsel along with two associates.
  • White Oak Commercial Finance Supports Hunt & Sons Inc. with $6MM for Acquisitions
    July 7, 2020
    White Oak Commercial Finance, LLC (“White Oak”), an affiliate of White Oak Global Advisors, LLC, announced it increased funding on its $75MM asset-based credit facility by $6MM with Hunt & Sons Inc. (“Hunt”), a third-generation, family-owned diversified petroleum products distributor. The funding was used to support Hunt with regional acquisitions.
  • MidCap Business Credit Closes $4,500,000 Asset-based Revolving Line of Credit for CR Brands, Inc.
    July 7, 2020
    MidCap Business Credit announced today they have closed on a $4,500,000 asset-based revolving line of credit for CR Brands, Inc., a portfolio company of Resilience Capital Partners, headquartered in West Chester Township, Ohio. CR Brands is an innovative consumer packaged goods company with a portfolio of affordable household cleaning and laundry products with superior performance qualities. Today, CR Brands enjoys national distribution and close customer relationships with many leading retailers
  • CIT Leads $118.5 Million Financing for North Carolina Solar Project
    July 7, 2020
    CIT Group Inc. (NYSE: CIT) today announced that its Power and Energy business served as lead arranger on a $118.5 million financing for the utility-scale Harts Mill Solar project in Edgecombe County, North Carolina. The project is owned by Kayne Anderson Capital Advisors L.P., a leading alternative investment manager, and marks their first solar investment supplying the PJM Interconnection grid.
  • LSQ Provides a $10MM Facility to an Educational Software and Technology Company
    July 7, 2020
    An educational software and technology firm in the northeast US approached LSQ to satisfy its working capital needs during the COVID-19 crisis. The company provides turnkey solutions to school districts so its students can work remotely and access class and homework assignments. While the company had received government stimulus funding, it was not sufficient to satisfy the new cash requirements from its foreign supply chain due to the impacts of COVID-19.
  • BHI Appoints Jocelyn Bluth Chief People Officer
    July 7, 2020
    BHI, a full-service commercial bank, announced that it has appointed Jocelyn Bluth as Chief People Officer. Bluth joins BHI with more than 25 years of human resources experience in banking and financial services.
  • Deutsche Bank And Google To Form Strategic Global, Multi-Year Partnership To Drive A Fundamental Transformation Of Banking
    July 7, 2020
    Deutsche Bank and Google Cloud have agreed to join forces and form a strategic partnership that aims to redefine how the bank develops and offers its financial services. The partnership is unique in that it will not only deliver cutting edge cloud services to Deutsche Bank, but also enable co-innovation between the two companies to create the next generation of technology-based financial products for clients. Both parties have signed a Letter of Intent and plan to sign a multi-year contract within the next few months.
  • Imperial Capital Hires Distressed Debt Trading Veteran, Simon Mullaly, to Head New European Private Credit Group
    July 7, 2020
    Imperial Capital Group, LLC (“Imperial Capital”), announced today that Simon Mullaly has returned to the markets to launch a European Private Credit Group in which he will serve as Head Trader. The European Private Credit Group will source private European credit investment opportunities for Imperial Capital’s institutional investors in both Europe and the US.
  • SC&H Capital Advises P-D Valmiera Glass USA Corp. in its Sale to Saint-Gobain Adfors America, Inc.
    July 7, 2020
    SC&H Capital, a leading investment bank specializing in M&A advisory, announced it acted as the exclusive investment banker to P-D Valmiera Glass USA Corp. (“Valmiera”) in the sale of substantially all of its assets to Saint-Gobain Adfors America, Inc. (“Saint-Gobain”).
  • Latham & Watkins Adds New York Partner to Expanding Restructuring & Special Situations Practice
    July 7, 2020
    Latham & Watkins LLP is pleased to announce that George Klidonas has joined the firm’s New York office as a partner in the Restructuring & Special Situations Practice within the Finance Department. Klidonas focuses his practice on corporate restructurings, liability management transactions, recapitalizations, and other special situation transactions.
  • Marco Capital, Inc. Announces Hiring of Two Experienced Credit Professionals
    July 7, 2020
    Marco Capital, Inc., a Miami, Florida-based trade receivables factoring specialist, grew its credit staff today with the hiring of two experienced credit professionals in domestic U.S. and cross-border LatAM transactions. Taking on the position of chief credit officer and SVP of Operations is Fred Leder, a 20-year veteran in the non-bank finance industry. Alisa Rusanoff takes on the role of senior credit officer, taking the lead in screening, evaluating and underwriting new business.
  • Tiger Group Execs: Retail Inventory Valuations Bounced Back to Surprisingly Healthy Levels During Re-Openings
    July 7, 2020
    Retail inventory valuations bounced back quickly in May and June as large numbers of Americans responded to retail re-openings by hunting for bargains at liquidation sales, said executives from Tiger Capital Group in a webinar with analysts from Goldman Sachs.
  • InterNex Supplies $1.25MM in Financing to Consumer Goods Company
    July 6, 2020
    The line of credit will enable the company’s expansion plans and the added VelocityTM Strech facility will support their new product ramp up.
  • Austin Financial Services Provides a $2.5MM Revolving A/R Facility to a Logistics and Fulfillment Company
    July 6, 2020
    Austin Financial Services, Inc. (AFS) is pleased to announce the closing of a $2.5MM revolving A/R facility to a Logistics and Fulfillment Company. Proceeds from AFS’ revolver were used to support the Company’s growing customer base & near-term plans for expansion.
  • Love’s Acquires Vero Business Capital, Foley Business Capital
    July 6, 2020
    Love’s Financial, a member of the Love’s Family of Companies, has acquired two freight factoring companies: Vero Business Capital of Memphis, Tennessee, and Foley Business Capital of Omaha, Nebraska.
  • Bridge Bancorp, Inc. and Dime Community Bancshares, Inc. to Combine in Merger of Equals Creating The Best Business Bank in New York
    July 6, 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 announced that they have entered into a definitive merger agreement pursuant to which the companies will combine in an all-stock merger of equals transaction, valued at approximately $489 million. The merger combines two complementary banking platforms to create a premier community-based business bank. The combined company will have over $11 billion in assets, over $8 billion in total deposits, and 66 branches spanning Montauk to Manhattan.
  • Warren Rice Joins Community Bank of the Chesapeake as Senior Vice President, Commercial Loan Officer
    July 6, 2020
    Community Bank of the Chesapeake is pleased to welcome Warren Rice as Senior Vice President, Commercial Loan Officer for the Calvert County market. In this role, he will focus on generating business lending opportunities while building banking relationships within the business community.
  • Pebblebrook Hotel Trust Announces Successful Amendments Of Credit Agreements: Covenant Waivers And Extensions of Debt Maturities
    July 6, 2020
    Pebblebrook Hotel Trust (NYSE: PEB) (the “Company”) today announced that it has successfully amended the agreements governing its outstanding debt, including its $650.0 million senior unsecured revolving credit facility, $2.0 billion of term loans and working capital facilities, and $100.0 million private placement senior notes. In addition, $242.6 million of the Company’s $300.0 million November 2021 debt maturity was extended to November 2022.
  • Moncler Signs Sustainability-Linked Revolving Credit Facility
    July 6, 2020
    Moncler has signed a financing credit line granted by Intesa Sanpaolo SpA for a maximum amount of 400 million euros and based on a rewarding mechanism linked to the achievement of environmental impact reduction targets.
  • Diversified Healthcare Trust Amends Credit and Term Loan Agreements and Provides COVID Related Business Updates
    July 6, 2020
    Diversified Healthcare Trust (Nasdaq: DHC) today announced that it has amended the agreements governing its $1 billion unsecured revolving credit facility and $200 million unsecured term loan, and is also providing certain business updates in light of the ongoing COVID-19 (coronavirus) pandemic.
  • Xenia Hotels & Resorts Successfully Amends Corporate Credit Agreements And Secured Mortgage Loans
    July 6, 2020
    Xenia Hotels & Resorts, Inc. (NYSE: XHR) ("Xenia" or the "Company") announced today that it has finalized amendments to each of its corporate credit agreements (the "Amendments"), including its $500 million senior revolving credit facility and four term loan facilities totaling $575 million, as well as modifications to seven of its eight secured mortgage loans.
  • MiMedx Announces Concurrent $150 Million Private Equity and Debt Financings
    July 6, 2020
    MiMedx Group, Inc. (OTC PINK: MDXG) (“MiMedx” or “the Company”), an industry leader in advanced wound care and an emerging therapeutic biologics company, today announced the closing of concurrent $150 million private equity and debt financings, consisting of an equity financing pursuant to a Securities Purchase Agreement with an entity controlled by EW Healthcare Partners and certain funds managed by Hayfin Capital Management LLP (“Hayfin”), and a debt financing pursuant to a Loan Agreement with Hayfin. As part of the transaction, EW Healthcare Partners has designated Martin P. Sutter and William A. Hawkins III to serve on the Company’s board as preferred directors.
  • Lakeland Industries Announces New Credit Facility with Bank of America
    July 6, 2020
    Lakeland Industries, Inc. (LAKE) (the "Company" or "Lakeland"), a leading global manufacturer of protective clothing for industry, healthcare and to first responders on the federal, state and local levels, today announced that it has established a new credit facility with Bank of America. The new facility consists of a senior secured $12.5 million revolving credit facility, which includes a $5 million letter of credit sub-facility and an option to convert up to $5 million of the revolving credit facility into a term loan facility. The facility also includes an accordion feature under which the Company may request from time to time an increase in the revolving commitment of up to $5 million (for a total commitment of up to $17.5 million).
  • Electrovaya Announces Increased Credit Facility and Provides Update
    July 6, 2020
    Electrovaya Inc. ("Electrovaya" or the "Company") (EFL.TO)(EFLVF), a lithium-ion battery manufacturer with industry-leading performance, today announced that it has closed an agreement with a Canadian financial institution to increase its revolving credit facility from C$1.5 million to C$4.5 million. The facility will support fulfillment of purchase orders.
  • Village Farms International Announces Completion of the Accordion Provision of the Pure Sunfarms' Credit Facility
    July 6, 2020
    Village Farms International, Inc. ("Village Farms" or the "Company") (NASDAQ: VFF) (TSX: VFF) today announced its majority-owned joint venture for large-scale, low-cost, high-quality cannabis production, Pure Sunfarms, has further expanded its credit facility (the "Credit Facility") with the lending syndicate led by Bank of Montreal and including Farm Credit Canada ("FCC") and the addition of CIBC to its full $59 million capacity with the completion of the Credit Facility's accordion feature. The Credit Facility now consists of a $15.0 million revolving operating loan (the "Revolver") and a $25.0 million term loan (the "New Term Loan"), in addition to its existing $19.0 million loan (the "Existing Loan").
  • Scott’s Liquid Gold Announces New Credit Facility with UMB
    July 6, 2020
    Scott’s Liquid Gold-Inc. (OTC: SLGD) today announced it has entered a new credit facility with UMB Bank in conjunction with the acquisition of the Biz and Dryel laundry brands. Scott’s new credit facility includes a $7 million asset based line of credit, along with a $3 million term loan, with current interest rates of 4.75% and 5.50%, respectively. The credit facility has a three year term and includes typical covenants. The UMB credit facility replaces our existing credit facility with JPMorgan Chase Bank, which was terminated in conjunction with the closing. The Company was assisted by Business Capital, a national commercial finance company, throughout the financing process.
  • NPC International Enters into Restructuring Support Agreement with Majority of Senior Secured Lenders to Substantially Reduce Long-Term Debt and Strengthen Financial Position
    July 6, 2020
    NPC International, Inc. (“NPC” or the “Company”) today announced that it has entered into a restructuring support agreement (“RSA”) with lenders holding approximately 100% of the Company’s first lien priority debt and 70% of its first lien debt (collectively, the “Senior Secured Lender Group”) to substantially reduce NPC’s long-term debt and strengthen the Company’s capital structure. NPC and the Senior Secured Lender Group contemplate that the terms of the RSA would become part of a comprehensive Chapter 11 plan to restructure the Company’s balance sheet and optimize its portfolio of restaurants throughout the country.
  • Chapter 11 U.S. Commercial Bankruptcies up 43% in June For First Half 2020, Chapter 11 Filings are Up 26% Versus Same Period Last Year
    July 6, 2020
    Epiq, a global leader in legal services, released the June 2020 bankruptcy filings statistics today from its AACER business. Notably, commercial Chapter 11 filings are up 43% over June of last year, with 609 new filings, up from 424 from the same period last year. For the first half of 2020, total commercial Chapter 11 filings are up 26% with 3,604 new filings, up from 2,855 from the same period last year.
  • California Advocacy Alert
    July 6, 2020
    Last month, SFNet alerted members to CA AB2559, which expands the DBO’s enforcement powers by allowing the DBO to seek ancillary relief in the form of refunds, restitution, disgorgement or damages paid by the lender subject to the California Financing Law (“CFL”) which is found to be violating the CFL. Such ancillary relief is in addition to any fee or citation levied by the DBO and collected for the benefit of the State and is to be paid directly to the aggrieved borrower.
  • Houlihan Lokey Advises MFA Financial
    July 6, 2020
    Houlihan Lokey is pleased to announce the successful placement of $2.15 billion of capital for MFA Financial, Inc. (NYSE:MFA), consisting of a $500 million private senior secured loan with warrants funded by Apollo Global Management, Inc. (Apollo), and a $1.65 billion new asset-level term facility funded by Athene USA Corporation and Barclays Bank PLC.
  • J D Factors Announces Factoring Facilities
    July 6, 2020
    J D Factors announces it has provided: $700,000 to a transportation company in California; $100,000 to a transportation company in Georgia; $75,000 to a transportation company in Quebec; $300,000 to a transportation company in Illinois...
  • CIBC Welcomes Nathan Love to U.S. Asset-Based Lending Team
    July 1, 2020
    Love joins CIBC from PNC Business Credit, where he served as Senior Vice President, Business Development. In this role, he handled business development of Asset-based loans for middle market companies experiencing growth or business transition. At CIBC, Love will focus on origination in the Great Lakes region, continuing to provide creative solutions to family-owned or sponsor-backed, middle market companies.
  • Troutman Pepper Officially Launches; Law Firm one of 50 Largest in U.S.
    July 1, 2020
    Troutman Sanders and Pepper Hamilton officially became Troutman Pepper (Troutman Pepper Hamilton Sanders LLP) today, a national law firm with 1,100 attorneys in 23 U.S. cities. The new firm offers clients greater resources and bench strength, enhanced practices, and expanded geographical reach. Troutman Pepper is one of the 50 largest law firms in the country, with offices in eight of the 10 largest U.S. markets. The firm supports some of the country’s biggest industry sectors, including health sciences, energy, real estate, insurance, finance, private equity, construction, and technology.
  • Citi Expands Commercial Banking Business in the Nordics; Mariève Gauthier Appointed to Lead and Grow the Nordic Operations
    July 1, 2020
    The commercial bank business in the Nordics, covering Sweden, Norway, Denmark and Finland, serves the middle market segment in a wide range of traditional industries as well as the fast growing digital sector. Mariève will be based in Stockholm and will start transitioning to her new role with immediate effect.
  • Alvarez & Marsal Expands Its Healthcare Offerings with Launch of Biopharmaceutical and MedTech Advisory Practice
    July 1, 2020
    Leading global professional services firm Alvarez & Marsal (A&M) has appointed Jacques Mulder as a Managing Director in its Healthcare Industry Group to expand its biopharmaceutical and medical technology (MedTech) sector offerings. Mr. Mulder’s appointment reflects A&M’s commitment to assist clients in the biopharmaceutical and medical device industry to address multifaceted market challenges, which have been exacerbated by the Covid-19 pandemic.
  • FTI Consulting Adds Senior Restructuring and Performance Improvement Specialist
    July 1, 2020
    FTI Consulting, Inc. (NYSE: FCN) today announced the continued investment in its Turnaround & Restructuring practice within the Corporate Finance & Restructuring segment with the appointment of Kevin Barrentine as a Senior Managing Director. Mr. Barrentine , who will be based in Atlanta, brings more than 30 years of experience in restructuring and performance improvement for underperforming or distressed businesses.
  • Home Capital Renews $500 Million Committed Standby Secured Funding Facility With Bank of Montreal and Royal Bank of Canada
    July 1, 2020
    Home Capital Group Inc. (TSX: HCG) (“Home Capital” or the “Company”) is pleased to announce the renewal of its $500 million committed standby secured funding facility (the “Credit Facility”) entered into by its subsidiary, Home Trust Company, and Bank of Montreal and Royal Bank of Canada for a period of one year.
  • Lincoln International Adds Three Healthcare Investment Banking Leaders, Strengthening Firm’s Offering in Europe as Sector Consolidation Increases
    July 1, 2020
    Lincoln International, a leading global investment banking advisory firm, today announced that three leaders specializing in mergers and acquisitions (M&A) advisory for the healthcare sector have joined the firm's Frankfurt office. Dirk Loeffler joins as Managing Director and head of healthcare for the DACH region and Julian Knirim and Jens Gerlach join as Directors. All will advise shareholders, management teams and financial sponsors on complex private and public M&A transactions in the global healthcare sector.
  • Fed Says Primary Corporate Credit Facility Open for Business
    July 1, 2020
    The Federal Reserve announced that the Primary Market Corporate Credit Facility opened for business Monday, the last of its nine pandemic emergency lending programs to become operational. The program to support up to $500 billion in direct credit to corporate borrowers was announced in March as a flight from risk as the coronavirus spread began raising borrowing costs for corporations of all kinds.
  • Horizon North Logistics Inc. Announces New Credit Facility
    July 1, 2020
    Horizon North Logistics Inc. ("Horizon North" or the "Corporation") (TSX: HNL.TO) announced today that the Corporation has negotiated a new credit facility with a syndicate of lenders led by Scotiabank (the "Credit Facility"). Key features of the Credit Facility include an extended maturity date to December 31, 2022 and an increase in credit availability from $150 million to $175 million.
  • Gordon Brothers Welcomes Appraisal Expert to Expand Valuations Practice in Australia
    July 1, 2020
    Gordon Brothers, the global advisory, restructuring and investment firm, announced that Brendan Smyth has been named Head of the Australian Valuation team. The appointment will facilitate targeted, high-touch service to Australian clients of the company’s growing Valuations business.
  • Cardinal Energy Ltd. Announces Extension of Revolving Credit Facility
    July 1, 2020
    Cardinal Energy Ltd. ("Cardinal" or the "Company") (TSX: CJ) has received approval to extend the revolving period applicable to the Company’s existing reserves-based credit facility to July 15, 2020.
  • Bank of America Business Capital Names Senior Business Development Officer
    July 1, 2020
    Bank of America Business Capital is pleased to announce that Meredith Gall was named Senior Business Development Officer. Based in Denver, she will be responsible for originating new ABL financing opportunities in Colorado, Utah, Nevada, Arizona and Wyoming.
  • Pacific Western Bank hires William J. Black as Executive Vice President, Strategy and Corporate Development
    July 1, 2020
    Pacific Western Bank is pleased to announce that Bill Black has been appointed as Executive Vice President, Strategy and Corporate Development. In this newly created role, Mr. Black will focus on sourcing and evaluating prospective strategic opportunities for the Bank with the goal of generating improved financial results and shareholder value over time. He will serve as a member of the Bank’s executive management team and will maintain his primary office in the Bank’s New York City location.
  • The Paycheck Protection Small Business Forgiveness Act
    June 30, 2020
    U.S. Senators Kevin Cramer (R-ND), Bob Menendez (D-NJ), Thom Tillis (R-NC) and Kyrsten Sinema (D-AZ), Senate Banking Committee members, today introduced the “Paycheck Protection Small Business Forgiveness Act,” bipartisan legislation to streamline forgiveness of Paycheck Protection Program (PPP) loans for small businesses.
  • U.S. Buys Debt From Hollywood Giants As Pandemic Credit Facility Ramps Up
    June 30, 2020
    The Federal Reserve purchased more than $16 million in debt from WarnerMedia owner AT&T, more than $13 million in debt issued by NBCUniversal owner Comcast and $4.5 million in debt issued by Fox Corp., among others. The U.S. government has purchased millions of dollars in corporate bonds issued by entertainment giants like Fox Corp., Comcast, AT&T and others as part of a debt liquidity program spurred on by the novel coronavirus pandemic.
  • Davis Polk Elects Eight New Partners
    June 30, 2020
    Davis Polk has announced that Pedro Bermeo, Brian Burnovski, Roshni Banker Cariello, Cheryl Chan, Scott Herrig, Michael Scheinkman, Natasha Tsiouris and Zachary Zweihorn have been elected partners of the Firm, effective July 1, 2020.
  • Kyriba Working Capital Network Benefits Fluor and its Suppliers During Pandemic Recovery
    June 30, 2020
    Kyriba, a leading cloud-based finance software network for CFOs and treasury leaders that enables global companies to maximize growth and reduce risk, announced its Working Capital Network offers finance solutions that have helped its clients and Fluor Corporation (NYSE:FLR), a global, publicly-traded engineering, procurement, construction (EPC) and maintenance company, optimize payment terms aiding Fluor and its suppliers during pandemic recovery.
  • Hilco Report Points to Disruptive Change Ahead for Health Care Real Estate Market
    June 30, 2020
    Hilco Global has issued a timely and relevant report examining how the COVID-19 pandemic is reshaping the configuration of critical and other care facilities, and what that is likely to mean for hospitals and the broader health care real estate market moving forward.
  • Celtic Capital Corporation Provides $750,000 Accounts Receivable Line Credit for Two California-based Affiliated Companies
    June 30, 2020
    Celtic Capital Corporation today announced its most recent new client relationship – two California-based affiliated companies that manufacture corrugated boxes and display panels. The businesses needed a line of credit to repay a small bank line and some unsecured debt that the owner used to acquire the business the year before.
  • Hornbeck Offshore Announces Reorganization Plan Approved By Court
    June 30, 2020
    Hornbeck Offshore Services, Inc. (OTC Pink Marketplace: HOSSQ) (the "Company") announced that the Company's Joint Prepackaged Chapter 11 Plan of Reorganization (the "Plan") was approved by Judge David R. Jones of the United States District Court for the Southern District of Texas. The confirmed Plan achieved the overwhelming support of 100% of voting Class 4 First Lien Claims in amount, 99.9% of voting Class 5 Second Lien Claims in amount, and 99.8% of voting Class 6 Unsecured Notes Claims in amount. The Company expects to emerge from bankruptcy upon clearing various governmental approvals, which are expected to occur within the coming few months.
  • Peapack-Gladstone Bank Announces the Expansion of the Peapack Capital Team to Accommodate Continued Growth
    June 30, 2020
    Margaret Kot, who joins the team as vice president, senior underwriter and portfolio manager, has over 20 years of banking experience and has managed credit risk across a broad spectrum of markets and industries. Victoria Knipe joins the team as a credit analyst. Most recently, Victoria was a business analyst at Trustmark Insurance in Worcester, MA.
  • Roxgold Refinances Existing Credit Facility
    June 30, 2020
    The amended Facility (“Facility”) was financed through our existing senior bank financiers, Societe Generale and BNP Paribas. The Facility refinances the current outstanding loan balance of US$37 million with revised repayment terms extending the repayment period from June 30, 2021 to December 30, 2022 which reflects the Company’s continued success in extending the project’s mine life. The Company has also secured an additional US$20 million as a revolving credit facility to further support its growth initiatives.
  • Horizon Technology Finance Strengthens Capital Resources with Amendment and Extension of its $100 Million Credit Facility with U.S. Based Insurance Company
    June 30, 2020
    Horizon Technology Finance Corporation (NASDAQ: HRZN) ("Horizon" or the "Company"), 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, today announced that Horizon Secured Loan Fund I LLC, Horizon's wholly-owned subsidiary ("HSLF"), has amended and extended its $100 million senior secured debt facility with a large U.S. based insurance company, pursuant to which HSLF may issue up to $100 million of secured notes.
  • Haynes and Boone Represents Capitol Peak Partners in Acquisition of Borden Dairy
    June 30, 2020
    A Haynes and Boone, LLP team represented Capitol Peak Partners, LLC in its winning, joint bid with KKR & Co. to acquire Borden Dairy Company as a part of the milk producer’s 363 sales process to sell its assets out of bankruptcy. Haynes and Boone M&A Partners Jan Sharry and Dan Malone and Restructuring Partner Steve Pezanosky led the Capitol Peak deal team.
  • John Fenn Joins Hilco Valuation Services As Senior Managing Director Focused On Business Valuation
    June 30, 2020
    Hilco Valuation Services, LLC, today announced the appointment of John Fenn as Senior Managing Director in Hilco's Enterprise Valuation Services group, a global leader in providing reliable opinions for financial institutions, investment firms and corporations on the realizable value of going concerns, intangible assets, illiquid investments, and other specialized business assets.
  • U.S. Bank Announces New Leaders and Changes in Corporate & Commercial Banking
    June 30, 2020
    Felicia La Forgia has been named head of Corporate Banking. Hassan Salem has been named head of Commercial Banking. Elliot Jaffee will lead CCB’s strategic initiatives, including digital transformation, advanced data analytics, deposit strategy, and other key priorities as head of CCB Strategy. As chief credit officer, Corporate & Commercial Banking, Joseph Murphy will lead portfolio management and oversee loan underwriting policies and procedures across business lines. Shannon Donnelly, CCB’s new chief administrative officer, will manage the business line’s relationships with all key functional areas and serve as business manager for the Fixed Income & Capital Markets group.
  • AllSaints Gets U.S. Bankruptcy Court OK of U.K. Restructuring
    June 30, 2020
    The main point of the insolvency proceeding appears to be in order to force landlords in the U.S. and U.K. into a sales-based rent model, wherein AllSaints will only pay rent based on a percentage of its monthly net sales. There has been talk among other brands with landlords of a desire for sales-based rent as nearly all retailers and brands stopped paying rent amid the coronavirus shutdown and none expect a return to normal sales levels this year.
  • Over 95% of Assets Sold at Auction of Former ECS Recycling Plant in California
    June 30, 2020
    Online sale by Tiger Group and partners draws over 200 bidders from US and 9 foreign countries, yielding better-than-expected results. More than 95% of assets were sold by Tiger Group and partners Aaron Equipment, Rosen Systems and Perry Videx in a recent online auction for the assets of bankrupt ECS Refining’s former multi-medium recycling plant in Stockton.
  • Host Hotels & Resorts Successfully Amends $2.5 Billion Credit Agreement to Enhance Flexibility and Preserve Liquidity and Updates Investor Presentation
    June 29, 2020
    Host Hotels & Resorts, Inc. (NYSE: HST), the nation's largest lodging real estate investment trust (the "Company"), announced today that it successfully amended the credit agreement governing its $1.5 billion fully drawn revolving credit facility and two $500 million term loans.
  • Pacific Western Bank Promotes Sean Lynden to President, Venture Banking Group as Frank Tower Departs
    June 29, 2020
    Pacific Western Bank announced today they are promoting Sean Lynden to President of their Venture Banking Group. With this promotion, Pacific Western amicably marks the departure of current longstanding President of our Venture Banking Group, Frank Tower. Frank is moving on from the Bank to become a Partner at Savano Capital Partners, a direct secondaries focused growth equity fund.
  • Rosenthal Provides $4 Million Purchase Order Finance Facility for California Personal Protection Products Distributor
    June 29, 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 California-based distributor of hand sanitizer and anti-bacterial soap.
  • WEX Announces a $400 Million Investment From Warburg Pincus and Amendment to the Credit Agreement
    June 29, 2020
    WEX Inc. (NYSE:WEX), a leading financial technology service provider, announced today it has agreed to a $400 million dollar investment from an affiliate of Warburg Pincus LLC (together with its affiliate, “Warburg Pincus”) which includes convertible notes in an aggregate principal amount of $310 million and $90 million in common stock through a private placement (the “Private Placement”). The Private Placement is subject to customary closing conditions and is expected to close in the next several days. Importantly, WEX has also obtained an amendment to its existing senior secured credit facilities.
  • Liberty Media Announces Amendment to Formula 1 Financial Covenant
    June 29, 2020
    Liberty Media Corporation ("Liberty") (Nasdaq: LSXMA, LSXMB, LSXMK, BATRA, BATRK, FWONA, FWONK) announced today an amendment to the term loan and revolving credit facility of certain subsidiaries of Delta Topco Limited, the Liberty subsidiary that holds all of its interests in Formula 1 (“Formula 1”).
  • DMC Global Announces Amendment to Credit Agreement
    June 29, 2020
    DMC Global Inc. (Nasdaq: BOOM) today announced it has amended its credit agreement to provide covenant flexibility following a severe downturn in its core oil and gas end market.
  • NetCents Technology Provides Further Details of Credit Facility
    June 29, 2020
    NetCents has partnered with a handful of forward-thinking institutions to use its merchant order flow as a supply for a short-term crypto portfolio. The credit line will enable NetCents to have money in the market over an extended period, and be able to profit from arbitrage opportunities. The profits from this arbitrage will ultimately allow NetCents to reduce fees to its client base.
  • Allied Affiliated Funding, a division of Axiom Bank, N.A. Announces Recently Closed Transactions
    June 29, 2020
    Allied Affiliated Funding, a division of Axiom Bank, N.A. announced it closed $1,000,000 in receivables financing to a Texas-based company that provides commercial flooring to retailers, schools, senior living centers and other commercial projects and $400,000 in receivables financing to a Louisiana-based company that provides consultants for the oil and gas industry, primarily focused on water production and operations with well work and light roustabout services.
  • Harsco Completes Amendment To Its Credit Facility
    June 29, 2020
    Citigroup Global Markets Inc., PNC Bank National Association, Goldman Sachs Bank USA, Bank of America, N.A., BMO Harris Bank, N.A., HSBC Bank USA, National Association, Royal Bank of Canada, Fifth Third Bank, National Association, The Huntington National Bank, Keybank National Association, ING Bank N. V., Dublin Branch, Trust Bank (formerly known as Branch and Banking Trust Company), Bank of the West, and Santander Bank, N.A. have acted as joint lead arrangers.
  • Chesapeake Energy Corporation Commences Voluntary Chapter 11 Process
    June 29, 2020
    Kirkland & Ellis LLP is serving as legal counsel, Alvarez & Marsal is serving as restructuring advisor, Rothschild & Co and Intrepid Financial Partners are serving as financial advisors, and Reevemark is serving as communications advisor to the Company. Wachtell, Lipton, Rosen & Katz is serving as legal counsel to the Company's Board of Directors. Sidley Austin LLP is serving as legal counsel, RPA Advisors, LLC is serving as financial advisor, and Houlihan Lokey Capital, Inc. is serving as investment banker to MUFG Union Bank, N.A., the DIP facility agent and exit facilities agent.
  • Federal Reserve Board Releases Results of Stress Tests for 2020 and Additional Sensitivity Analyses Conducted in Light of the Coronavirus Event
    June 29, 2020
    In addition to its normal stress test, the Board conducted a sensitivity analysis to assess the resiliency of large banks under three hypothetical recessions, or downside scenarios, which could result from the coronavirus event. The scenarios included a V-shaped recession and recovery; a slower, U-shaped recession and recovery; and a W-shaped, double-dip recession.
  • North Mill Capital Provides $500,000 Accounts Receivable Facility
    June 29, 2020
    North Mill Capital announced it provided a $500,000 accounts receivable facility for The Right Staff, LLC. The funds were used to pay off the previous lender and provide additional working capital for the company.
  • Northeast Bank Announces Sale of Paycheck Protection Program Loans
    June 29, 2020
    Northeast Bank (the “Bank”) (NASDAQ: NBN), a Maine-based full-service bank, announced today that it has entered into a Loan Purchase and Sale Agreement (the “Loan Sale Agreement”) with The Loan Source, Inc. (“Loan Source”) and agreed to sell to Loan Source $457.6 million of loans originated by the Bank in connection with the Small Business Administration’s Paycheck Protection Program (“PPP”). After amortizing previously unamortized PPP loan origination fees, the Bank will realize a pre-tax gain of approximately $9.8 million in the current fiscal quarter as a result of the sale. In addition, the Bank will receive fee income on the loans sold until such time as the loans are forgiven or repaid.
  • HTG Molecular Diagnostics Secures Senior Term Loan from Silicon Valley Bank
    June 29, 2020
    HTG Molecular Diagnostics, Inc. (Nasdaq: HTGM) (HTG), a life science company whose mission is to advance precision medicine, today announced that it has entered into a $10.0 million senior term loan agreement with Silicon Valley Bank (SVB), the bank of the world’s most innovative companies and their investors, to replace its existing senior credit facility.
  • Fennec Pharmaceuticals Announces Amendment to Increase Existing Senior Debt Facility
    June 29, 2020
    Fennec Pharmaceuticals Inc. (NASDAQ:FENC; TSX: FRX), a specialty pharmaceutical company focused on the development of PEDMARK™ (a unique formulation of sodium thiosulfate) for the prevention of platinum-induced ototoxicity in pediatric patients, today announced an amendment to its existing senior debt facility with the Life Sciences Group at Bridge Bank increasing the size of the facility from $12.5 million to $18 million.
  • Hilco Redevelopment Partners Closes on $225.5 Million Acquisition of PES
    June 29, 2020
    Hilco Redevelopment Partners (HRP) – the real estate development unit of Hilco Global that remediates and redevelops complex and obsolete industrial property – today announced that it completed a transaction to purchase the 1300-acre former Philadelphia Energy Solutions (PES) refinery in Southwest Philadelphia. The deal is a giant step toward building an environmentally responsible and economically robust commercial hub in Southwest Philadelphia.
  • Amerisource Closes $3,000,000 Credit Facility for Health Services Company
    June 29, 2020
    Amerisource Business Capital announced the closing and funding of a $3,000,000 credit facility for an international occupational health services company based in Texas. The proceeds were used to refinance existing bank debt and support additional working capital needs
  • LOUD Capital Names Senior Partner and Chief Investment Officer, Expands Investment Offerings
    June 25, 2020
    LOUD Capital, an alternative investment firm headquartered in Columbus, Ohio, is proud to name Nishad Parmar as senior partner and chief investment officer. Parmar, who is based out of LOUD's Chicago office, will be leading LOUD's diversified strategy into a new series of alternative investments. Foley & Lardner LLP will be legal partners to LOUD's Chicago office.
  • Going-Out-of-Business Sales Resume at 107 Modell’s Sporting Goods
    June 25, 2020
    With retailers resuming in-store operations following the months-long COVID-19 pause, shoppers from across the Northeast and Mid-Atlantic will find liquidation discounts on top-name sporting goods, footwear and apparel brands as Modell’s Sporting Goods resumes going-out-of-business sales at 107 of its remaining stores, beginning immediately. A joint venture of Tiger Capital Group, Great American Group (a B. Riley Financial company) and SB360 Capital Partners is conducting the sales on behalf of the New York-based retailer in accordance with state and local social distancing and sanitation guidelines.
  • BBVA, Sustainability Coordinator of the new Revolving Credit Facility for EnBW in Germany
    June 25, 2020
    The new revolving credit facility, which replaces the existing facility, is for a total of EUR 1.5Bn and signed for an initial term of five years with two possible one-year extensions that will allow to push back its maturity date. A total of 18 banks have participated in the transaction, following a successful syndication process that was widely oversubscribed. BBVA, due to its global vision and strategic approach to sustainability, has been chosen as the sole sustainability coordinator of this first sustainable facility that is being formalized after the COVID-19 crisis. BBVA also acted as global coordinator of the transaction together with BayernLB and Unicredit.
  • Candelaria Mining Closed $9 Million Medium Term Loan Facility
    June 25, 2020
    Candelaria Mining Corp. (TSXV:CAND, OTC PINK:CDELF) (the “Company”) is pleased to announce that it has closed a US$9 million medium term loan facility (“Facility”) with Accendo Banco, S.A. (“Accendo”). Funds advanced under the facility will be used for financing construction of the Company’s Pinos project and working capital purposes.
  • J. Crew Steps Along With Reorganizing Efforts
    June 25, 2020
    On Thursday, a Virginia bankruptcy court approved the retailer’s disclosure statement, essentially one of the prerequisite steps before eventually having a Chapter 11 plan OK’d. The disclosure statement’s approval was expected, as the standard for doing so is a fairly straightforward question — whether the statement provides reasonable information for a hypothetical investor to make an informed decision. J. Crew Inc.’s contemplated Chapter 11 plan envisions converting $1.6 billion of secured debt to equity, and would include $400 million in “new money commitment backstopped by their plan sponsors,” according to the retailer’s court filings.
  • Technicolor Files for Restructuring in Bankruptcy Court, Citing Coronavirus Impact
    June 25, 2020
    The long-beleaguered company's post-production and VFX subsidiaries worked on 100 theatrical films and 300 series last year.
  • Chuck E. Cheese Parent CEC Entertainment Files for Chapter 11 Bankruptcy
    June 25, 2020
    The company said it will use the time to continue talks with its financial stakeholders, including landlords, to "achieve a comprehensive balance sheet restructuring that supports its re-opening and longer-term strategic plans."
  • Return to Modest Growth Expected for Lumber Markets According to Hilco Forestry Report
    June 25, 2020
    Pandemic Impacts Continue to Shape the Course of Forestry Markets, authored by Jesse Marzouk- Vice President and Forestry Products Specialist at Hilco Global, explores how the continuation of construction and remodeling throughout the current crisis has helped sustain U.S. lumber prices and how factors including significantly increased online ordering have served to bolster specific areas of the market such as containerboard. The report also addresses the potential for long-term lumber capacity oversupply, as well as near-term implications stemming from consumer toilet paper hoarding during the pandemic period.
  • Garrison Capital Inc. to Merge with Portman Ridge Finance Corporation
    June 25, 2020
    Garrison Capital Inc. (Nasdaq: GARS) (“GARS”) and Portman Ridge Finance Corporation (“PTMN”) (Nasdaq: PTMN) announced today that they have entered into a definitive agreement under which GARS will merge with and into PTMN, a business development company managed by Sierra Crest Investment Management LLC (“Sierra Crest”), an affiliate of BC Partners Advisors L.P. (“BC Partners”) and LibreMax Capital LLC. The transaction is the result of the previously announced review of strategic alternatives by GARS and has been approved by a unanimous vote of the Board of Directors of GARS (on the unanimous recommendation of the Special Committee of the Board of Directors of GARS) and the Board of Directors of PTMN.
  • Susan George Joins White Oak Global Advisors as Head of Asset Management
    June 25, 2020
    White Oak Global Advisors, LLC (“White Oak” or "the Firm"), today announced Susan George has joined the Firm as Head of Asset Management. Ms. George will be based in New York and will sit on the Investment Committee. Ms. George brings over 30 years of middle market private debt and distressed private equity experience to White Oak. Prior to joining the Firm, Ms. George served as Head of Corporate Asset Management and was a member of the Investment Committee at private credit firm Garrison Investment for 12 years. She previously worked for The CIT Group for over 20 years, where she held various leadership roles in credit restructuring, underwriting and business credit.
  • CIT Northbridge Credit Serves as Sole Lender on $50 Million Credit Facility for CITIES Market Studios
    June 25, 2020
    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 $50 million senior secured revolving credit facility for CITIES Market Studios. Based in Minneapolis, Minnesota, CITIES is a global consumer product and retail strategy company that collaborates with retailers, brands and inventors to develop and execute strategies, products and programs for the digital and physical markets.
  • NexTech AR Secures $600,000 Credit Line With Royal Bank of Canada
    June 24, 2020
    NexTech AR Solutions (NexTech) (OTCQB: NEXCF) (CSE: NTAR) (FSE: N29), an emerging leader in augmented reality for eCommerce, AR learning applications, and AR-enhanced virtual events is pleased to announce that it has secured a $600,000 lending facility with the Royal Bank of Canada (“RBC”).
  • White Oak Global Advisors Expands Commitment to Impact Investing
    June 24, 2020
    White Oak Global Advisors, LLC, (“White Oak”, or the “Firm”) today reiterated its commitment to responsible credit investing by dedicating additional resources to deploy capital in senior-secured, non-sponsored debt investments in companies that are focused on environmental and social outcomes, particularly in the areas of healthcare, environment and well-being. As a leader in the private debt asset class, White Oak is uniquely positioned to provide senior secured first lien loans that benefit small to middle market businesses that are mission driven to make a positive impact and reduce the footprint on our earth.
  • Sunflower Bank Provides Senior Debt Financing to SSP Innovations, LLC
    June 24, 2020
    Sunflower Bank, N.A. is pleased to announce it provided revolving and term debt commitments in connection with a refinancing of SSP Innovations, LLC (“the Company”) by Warren Equity Partners, LLC (“WEP”). The transaction closed in March 2020.
  • Hunter Street Provides Capital to Support Growth and Acquisitions for Leading Telecommunication Services Company
    June 24, 2020
    Hunter Street Partners ("Hunter Street"), a Minneapolis-based alternative investment management firm, has partnered with Five Crowns Credit Partners ("Five Crowns") to provide an $11 million senior secured term loan to finance TriStruX, the holding company resulting from a merger between Telcom Engineering Group and one of its regional competitors Leone Electric Company.
  • GNC is the Latest Retailer to File for Bankruptcy, Closing up to 1,200 Stores
    June 24, 2020
    GNC's parent company, GNC Holdings Inc., filed for Chapter 11 bankruptcy protection late Tuesday, and the health and wellness retailer said it plans to close "at least 800 to 1,200 stores," or approximately a quarter of its North American fleet. GNC was slammed by yearslong sales declines that made it impossible to meet enormous debt obligations coming due this year.
  • WSFS Bank Promotes Jim Wechsler to Senior Vice President, Chief Retail Lending
    June 24, 2020
    WSFS Bank, the primary subsidiary of WSFS Financial Corporation (Nasdaq: WSFS), today announced the promotion of Jim Wechsler to Senior Vice President, Chief Retail Lending Officer reporting to Executive Vice President and Chief Retail Banking Officer, Richard Wright. Wechsler will be responsible for Consumer Lending, Small Business, Government Guaranteed Lending, Community Reinvestment and NewLane Finance. He will also manage the bank’s fintech lending relationships. Wechsler is replacing Glenn Kocher, who is retiring.
  • Santander Bank Arranges $225 Million Deal with Purolite
    June 24, 2020
    Santander Bank today announced that its Commercial Banking division acted as joint lead arranger for a $175 million term loan and $50 million revolver to Purolite Corporation ("Purolite") to facilitate additional spending on capital projects and enhance liquidity. The deal will enable Purolite, the second largest international manufacturer of ion-exchange resins, to replenish its previous senior secured facility and maintain the rate of its business growth.
  • Crestmark Provides More Than $29 Million in Commercial Financing to 126 Businesses in the First Half of June
    June 24, 2020
    Crestmark Equipment Finance provided $15,319,877 in four new lease transactions; Crestmark Vendor Finance provided $8,710,820 in 121 new lease transactions; and the Government Guaranteed Lending group provided $5,050,000 in financing for two new clients in the first half of June.
  • Encina Business Credit Provides $35 Million Facility to a Leading Supplier and Distributor of Paint Supplies
    June 23, 2020
    Encina Business Credit, LLC (EBC) announced today that it has provided a $35 million senior secured credit facility to a leading retailer and distributor of paint and paint supplies. The facility consists of a senior secured revolving line of credit based on accounts receivable and inventory.
  • American Air Braces Balance Sheet With $3.5 Billion in Financing
    June 23, 2020
    Goldman Sachs, Citigroup, BofA Securities and JPMorgan are jointly running the stock and notes offerings for American. The carrier used a pool of slots, gates and routes in various countries, including the U.S., China, Japan, Australia and South America as collateral for the bonds and term loan. The stock offering is to start trading Tuesday, according to a person familiar with the matter.
  • Armstrong Flooring Expands Capital Resources and Liquidity
    June 23, 2020
    Bank of America acted as sole Lead Arranger for the ABL Facility and Pathlight Capital acted as sole Lead Arranger for the Term Loan. Jefferies LLC acted as a financial advisor and Skadden, Arps, Slate, Meagher & Flom LLP acted as legal advisor to Armstrong Flooring.
  • Goldgroup Announces Loan Facility Term Sheet With Accendo
    June 23, 2020
    Goldgroup Mining Inc. ("Goldgroup" or the "Company") (TSX:GGA, OTC:GGAZF, BMV SIX:GGAN.MX) is pleased to announce that it has signed an indicative term sheet (the "Term Sheet") in respect of a secured loan facility (the "Facility") with Accendo Banco S.A., Multiple Banking Institution (the "Lender"), in the amount of USD$3,000,000 (the "Facility Amount").
  • Cindi Giglio Joins Gordon Brothers, Ben Olushola Assumes Expanded Role and Additional Attorney Sought
    June 23, 2020
    Gordon Brothers, the global advisory, restructuring, and investment firm, announced today that Cindi Giglio has joined its legal function as Associate General Counsel, with primary responsibility for Retail and Commercial & Industrial transactions in North America. Meanwhile, Corporate Counsel Ben Olushola takes on an expanded role as Associate General Counsel for the enterprise, and continues to serve as lead counsel for Gordon Brothers’ International business from his current base in London.
  • Cavotec Enters Into a New Long Term Credit Facility Agreement
    June 23, 2020
    Cavotec has during the past months conducted a competitive process to procure a new long term credit facility, resulting in competing bids involving several bank consortia. After careful evaluation Cavotec has chosen a consortium led by Credit Suisse to provide a five-year credit facility as it offered the most competitive overall services and terms.
  • Despegar.com Obtains $40 Million Committed Credit Facility
    June 23, 2020
    Despegar.com, Corp. (NYSE: DESP), (“Despegar” or the “Company”) the leading online travel company in Latin America, today announced that it has signed a $40 million committed revolving credit facility (the “Facility”) with Citibank. The Facility has a 1-year term, renewable for an additional six months if certain financial covenants are met. This financing provides Despegar with additional financial flexibility with funds expected to be used for general corporate purposes.
  • Ares Management Corporation Leads £1.875 Billion Commitment to The Ardonagh Group in Largest Ever Unitranche Financing Transaction
    June 23, 2020
    Ares Management Corporation (“Ares”) (NYSE:ARES) announced today that it is serving as the lead arranger for a £1.875 billion financing commitment to The Ardonagh Group (“Ardonagh”), the U.K.’s largest independent insurance broker, through Ares’ global direct lending platform. Ardonagh is majority owned by HPS Investment Partners ("HPS") and Madison Dearborn Partners. In addition to direct lending funds managed by Ares, other significant lenders include Caisse de dépôt et placement du Québec (“CDPQ”), HPS and KKR.
  • Is Ann Taylor’s Owner Cloning JCP’s Path to Bankruptcy?
    June 23, 2020
    Ann Taylor’s debt-laden owner seems to be taking a page from Penney’s path to bankruptcy. Executive retention bonus payouts appear to be the newest clue that portends a potential bankruptcy filing, with Ascena Retail Group the latest fashion firm that may be headed in that direction.
  • Sallyport Commercial Finance Customizes a Credit Facility for a Mortgage Advisory Firm
    June 23, 2020
    Sallyport Commercial Finance arranges a $2,000,000 accounts receivable facility including a $500,000 cash flow loan to a company that provides due diligence and document management solutions.
  • B. Riley Financial Acquires Automotive Restructuring Firm, Alderney Advisors
    June 23, 2020
    Acquisition enhances B. Riley platform and expands financial advisory consulting services and capabilities. Alderney’s team of experienced crisis and turnaround advisors join B. Riley’s GlassRatner affiliate.
  • Clare Oaks Bondholders Announce Chapter 11 Plan To Stabilize And Invest In The Community
    June 22, 2020
    Certain funds managed by Lapis Advisers, LP and Amundi Pioneer Asset Management, Inc., filed a chapter 11 plan of reorganization in US Bankruptcy Court for the Northern District of Illinois, Eastern Division to restructure the financially challenged Clare Oaks community. They laid out their restructuring plan (the Bondholders Plan) for the continued operation of Clare Oaks with minimal disruption to the residents.
  • Access Capital Structures $1.5 Million Credit Facility for truData
    June 22, 2020
    Access Capital has structured a credit facility for $1.5 million for the California-based company truData Solutions, a data centric firm focused on partnering with clients in building analytics and data integration capabilities leveraged through Cloud solutions.
  • Athenex Announces $225 Million Loan Agreement with Oaktree
    June 22, 2020
    Athenex, Inc. (“Athenex” or the “Company”) (NASDAQ: ATNX), a global biopharmaceutical company dedicated to the discovery, development and commercialization of novel therapies for the treatment of cancer and related conditions, today announced that it has entered into a $225 million loan agreement with funds managed by Oaktree Capital Management, L.P. (“Oaktree”), a leading global investment firm (the “Agreement”).
  • Hedge Funds Exploit CLO Weakness Laid Bare by Corporate Distress
    June 22, 2020
    There’s a set of rules in the world of CLOs designed to keep managers’ temptations in check, so that they don’t rush foolishly into overly risky assets. But in a strange twist sparked in part by the coronavirus pandemic, these regulations are suddenly handcuffing them as they try to fend off aggressive Wall Street hedge funds. Firms from Elliott Management Corp. to Oaktree Capital Management are increasingly profiting from restrictions on collateralized loan obligations that limit their participation in distressed situations. Some investors are even arranging deals that intentionally shift value away from the structures, according to market watchers.
  • Wirecard Creditors Seek More Clarity Amid Talks Over Debt
    June 22, 2020
    Wirecard’s creditors are demanding more clarity from the company in return for the extension of almost $2 billion in financing after it breached terms on the loan, people familiar with the matter said. At least 15 commercial lenders, including Commerzbank AG and ABN Amro, are in negotiations about the steps to take after the German payments company said on Thursday it’s unable to release its annual report because it can’t locate 1.9 billion euros in cash ($2.1 billion), the people said.
  • Lenders Get Creative on Debt to Tie up M&A
    June 22, 2020
    Banks and borrowers are being forced to get creative on debt financings, putting in place sub-optimal structures in a bid to complete M&A transactions. A £4bn unfunded credit facility to back the US$38bn merger of the British businesses of Liberty Global and Telefonica; and a US$1.3bn club loan backing KKR’s acquisition of a 60% stake in US-based cosmetics maker Coty’s hair and nail care business were both innovative financings, designed to overcome the challenges that come with bringing such large deals to market during the Covid-19 pandemic.
  • SierraConstellation Partners Launches Senior Advisor Council to Provide C-Level Industry Expertise to Clients
    June 22, 2020
    SierraConstellation Partners, LLC (SCP), a national interim management and advisory firm to middle-market companies in transition, today announced the formation of a Senior Advisor Council to the firm. The Council will consist of experienced senior executives who have held C-level positions at firms in specific industries that have gone through restructurings, bankruptcies, and performance turnarounds. Each advisor will offer their unique expertise in a consulting capacity on SCP assignments in their respective industries.
  • Castleton Commodities International LLC Closes Renewal of $2.4 Billion Credit Facility
    June 22, 2020
    BNP Paribas, ABN AMRO Capital USA LLC, MUFG Bank, Ltd., Societe Generale, Citibank, N.A., Coöperatieve Rabobank U.A., New York Branch, Credit Agricole Corporate and Investment Bank and Natixis, New York Branch served as Joint Lead Arrangers and Joint Bookrunners for the Facility. ING Capital LLC acted as Senior Managing Agent for the Facility. CCI is also pleased to welcome Credit Suisse (Switzerland) Ltd. and Wells Fargo Bank, N.A. as Senior Managing Agents in the Facility this year. BNP Paribas served as Global Coordinator and Administrative Agent for the Facility. Cadwalader, Wickersham & Taft LLP served as counsel to the lenders. Stroock & Stroock & Lavan LLP served as counsel to the borrower.
  • Tamarack Valley Energy Ltd. Announces Completion of Credit Facility Redetermination
    June 22, 2020
    Tamarack Valley Energy ("Tamarack" or the "Company") (TSX: TVE) is pleased to announce that our bank syndicated credit facility has been redetermined at $275 million, of which the company was drawn approximately $209 million as of June 18th, 2020. The Company has ample liquidity for the remainder of 2020 and expects to generate free adjusted funds flow1 over and above planned capital expenditures with a forecasted net debt to trailing annual adjusted funds flow ratio1 of less than 2x.
  • NetCents Technology Negotiates Industry Leading Credit Facility
    June 22, 2020
    NetCents Technology Inc. (CSE: NC) (FSE: 26N) (OTCQB: NTTCF) ("NetCents" or the "Company"), a disruptive cryptocurrency payments technologies company, is pleased to announce that NetCents has received an institutional credit facility totaling 1.4 billion USD to power merchant settlements.
  • SBA and Treasury Announce Enhanced Transparency Regarding the Paycheck Protection Program
    June 22, 2020
    The U.S. Small Business Administration (SBA) and the U.S. Department of the Treasury have agreed with the bipartisan leaders of the U.S. Senate Small Business Committee to make public additional data regarding the Paycheck Protection Program (PPP). This agreement will ensure that the interests of both transparency and protections for small businesses are served.
  • Axiom Bank, N.A. Donates $10,000 to Hunger Relief Efforts During COVID-19 Pandemic
    June 22, 2020
    Axiom Bank, N.A. donated $10,000 to two nonprofits committed to fighting hunger across Central Florida and Tampa. Feeding Children Everywhere, headquartered in Longwood, and Feeding Tampa Bay were each gifted $5,000 to aid in their mission of providing meals to families in need. With the economic impacts of the COVID-19 pandemic continuing to stagger the region, both hunger relief groups have reported increased need at levels never seen before.
  • Grupo Bimbo Prepays $400 Million of Its Committed Revolving Credit Facility
    June 22, 2020
    Grupo Bimbo S.A.B. de C.V. (“Grupo Bimbo” or the “Company”) prepaid US$400 million of its committed revolving credit facility, maturing on October 7th, 2023. On March 25, 2020 the Company announced the disposal of US$720 million of its committed revolving credit facility, from which US$200 million will be used to refinance the 2020 notes maturing in June, while the balance was aimed at increasing liquidity, prioritizing flexibility and financial strength as a preventive measure due to the uncertain environment.
  • BRP Group, Inc. Upsizes Senior Revolving Credit Facility to $400 Million
    June 22, 2020
    BRP Group, Inc. (“BRP Group” or the “Company”) (NASDAQ: BRP), a rapidly growing independent insurance distribution firm delivering tailored insurance solutions, today announced that its subsidiary, Baldwin Risk Partners, LLC (“BRP LLC”), has amended its senior revolving credit facility, effective immediately, to increase the committed line under the credit facility to $400 million, up $100 million from its previous amount of $300 million.
  • SPECTRUM Commercial Services Opens North Carolina Office and adds Travis Smith to Sales Team
    June 22, 2020
    Travis joins SPECTRUM Commercial Services Company (SPECTRUMCommercial.com), bringing over 20 years of experience in commercial lending, most recently providing factoring and asset-based lending solutions. His track record of success working with commercial lenders, consultants and business owners make him an excellent fit as SPECTRUM expands into Charlotte and surrounding markets.
  • WesBanco Bank Announces the Appointment of Vice President, Commercial Banking
    June 22, 2020
    WesBanco, Inc., a diversified, multi-state bank holding company, announces that its affiliate, WesBanco Bank, has appointed Robert A. Van Nostrand as vice president, commercial bBanking for the Charleston, Huntingtonand southern Ohio markets. In his role, Van Nostrand will develop new client relationships and grow existing relationships across the commercial banking spectrum.
  • Ares Management Corporation Closes Oversubscribed $3.5 Billion Special Opportunities Fund
    June 22, 2020
    Ares Management Corporation (“Ares”) (NYSE: ARES), a leading global alternative investment manager, announced today the final closing of its Ares Special Opportunities Fund, L.P. (together with its parallel vehicles, “ASOF” or the “Fund”). The Fund was significantly oversubscribed at over $3.5 billion of commitments relative to its $2.0 billion target.
  • CVC Credit Partners backs Calibre Scientific's Next Phase of Growth
    June 22, 2020
    CVC Credit Partners ("CVC Credit") is pleased to announce that it has provided a $92 million multicurrency first lien credit facility to Calibre Scientific, the life sciences and diagnostics business owned by StoneCalibre. Funding provided by CVC Credit will be used to refinance the existing debt facility and to support the company's global acquisition strategy. Baird Global Investment Banking served as the exclusive debt advisor for the transaction.
  • American Addiction Centers Files for Bankruptcy in Delaware
    June 22, 2020
    AAC lined up $62.5 million of initial financing that will allow it to maintain operations during the restructuring, according to a separate statement. The company, which operates rehab centers in seven states, has struggled with its debt load, including borrowings it took on from its acquisition of AdCare in 2018.
  • TradeCap Partners Structures $1.6 Million PO Finance Facility for West Coast Soap Importer
    June 22, 2020
    TradeCap Partners recently closed a $1.6mm PO facility for a West coast-based importer of soap products. TradeCap’s collaboration with the company’s bank and a factoring partner resulted in a debtor carve-out paving the way for fulfillment of the orders. The Company’s existing line of credit with the bank was fully utilized, leaving no availability to capitalize on a growth opportunity with a former retail customer. Demand for household cleaning products had significantly increased as a result of the COVID pandemic, leaving the retailers’ shelves empty and out of stock.
  • North Mill Capital Announces New Transactions
    June 22, 2020
    North Mill Capital is pleased to a $2,000,000 accounts receivable credit facility to an LTL transportation company specializing in the transport and storage of products for industrial manufacturers throughout the Midwest; a $2,000,000 accounts receivable credit facility to an Iowa-based consulting firm providing IT staffing and services to businesses throughout the country and a $400,000 accounts receivable credit facility to a manufacturer of retail fixtures and point of purchase displays in Minnesota.
  • Steve Weber Joins Focus Management Group as Managing Director
    June 19, 2020
    Focus Management Group (FMG), a nationwide turnaround and restructuring firm, is proud to announce they have upgraded their team with the addition of Steve Weber. Steve will serve as a Managing Director to meet the firm’s growing activity levels for its turnaround management team and corporate restructuring services.
  • Fifth Third, Truist Among Banks Closing Early to Observe Juneteenth
    June 18, 2020
    Amid an intense period of national outrage over racial injustice and inequality, banks across the country are observing — for the first time — the date that commemorates the end of slavery in the United States. Fifth Third Bancorp, Truist Financial and others are joining corporations such as Nike, JC Penney and Mastercard in recognizing June 19, or Juneteenth, as a holiday.
  • White Oak Commercial Finance Loans Exceeded $600MM in 2019, Surpass $300MM YTD
    June 18, 2020
    White Oak Commercial Finance, LLC (“White Oak” or "the firm"), an affiliate of White Oak Global Advisors, today announced it funded over $600MM in credit facilities in 2019 and over $300MM year-to-date to diversified enterprises in North America, the UK, Europe, and Australia.
  • Republic Capital Access, LLC Finances Silicon Valley Tech Company
    June 18, 2020
    Republic Capital Access, LLC has seen a surge in demand for financing from cutting-edge, non-traditional defense contractors as the US Government seeks disruptive technologies. Republic recently financed a technology firm, backed by some of the leading venture capitalists in Silicon Valley, that provides data analytics to the US Government.
  • 24 Hour Fitness Receives Court Approval of $250 Million in Financing; Club Reopenings Continue Nationwide
    June 18, 2020
    24 Hour Fitness (the “Company”), an industry-leading fitness brand for over 35 years, today announced that it has received approvals from the U.S. Bankruptcy Court for the District of Delaware for the First Day motions related to the Company’s voluntary Chapter 11 filing on June 15, 2020. The approved motions will support the Company’s continued business operations while it implements the financial restructuring process.
  • Metropolitan Commercial Bank Promotes Luke J. Kaufman to Head of Commercial Lending
    June 18, 2020
    Metropolitan Bank Holding Corp. (NYSE:MCB) (“Metropolitan” or the “Company”), the holding company for Metropolitan Commercial Bank (the “Bank”), today announced the promotion of Luke J. Kaufman as Head of Commercial Lending, effective immediately. He will report to Scott Lublin, Executive Vice President and Chief Lending Officer and will be responsible for the overall operations of its Commercial Lending division.
  • Marina Kremer Joins California Bank of Commerce as Senior Vice President of Sponsor Finance Division
    June 18, 2020
    California Bank of Commerce (CBC) is expanding its Sponsor Finance Lending Division with the addition of veteran banker Marina Kremer. The division works closely with private equity firms (including Search Funds), SBICs and direct lenders to provide cash flow-based senior debt financing. Kremer has served in various capacities in banking, most recently as Director of Credit/Underwriting at Neptune Financial (NepFin).
  • SFNet's Women in Secured Finance Conference Deploys SFNet Connect
    June 18, 2020
    This year’s theme is “Empowered Women Empower Women.” SFNet’s Women in Secured Finance Conference will bring together some of our industry’s leading female executives and other professionals to offer their insights and tips on navigating issues faced in today’s work environment, providing women in secured finance an opportunity to learn from and support each other.
  • New Regency Extends Credit Facility, Announces Term Loan
    June 17, 2020
    New Regency has extended its credit facility for an additional five years, the entertainment company behind “The Revenant” and “Gone Girl” announced Tuesday. The extension includes a revolving facility with a capacity of $700 million. It is led by J.P. Morgan and also backed by such financial institutions as Bank of America, Union Bank, and SunTrust. New Regency said it has also closed a five and a half year, $125 million term loan from The Carlyle Group.
  • Marketplace Lender October Adds new Predictive Risk Tool to Platform Facilitating Instant Loans
    June 17, 2020
    To cope with the high volume of these loan requests, October has launched a new instant decision tool to speed up the granting of a secured loan. The feature uses machine learning techniques to assess the risk of a business default even more quickly.
  • Singing Machine Secures $12.5 Million Revolving Credit Facility
    June 17, 2020
    On June 16, 2020 the Company entered into a two-year Loan and Security Agreement for a $10,000,000 financing facility with Crestmark, a division of Meta Bank, NA (“Crestmark”) on eligible accounts receivable. Further, the Company also executed a two-year Loan and Security Agreement with Iron Horse Credit (“Iron Horse”) for up to $2,500,000 in inventory financing.
  • Blucora Announces Proposed Add-On to Term Loan Facility
    June 17, 2020
    Blucora, Inc. (NASDAQ: BCOR), a leading provider of tax-smart financial solutions that empower people to achieve their goals, announced that it will host a bank meeting later today, Wednesday, June 17, 2020, for the purpose of syndicating a $175,000,000 add-on to its term loan under the Company’s existing senior secured credit facility.
  • UniCredit Select US FinTech Taulia to Boost Working Capital Solutions
    June 17, 2020
    Pan-European commercial bank, UniCredit announced a partnership with San-Francisco-based FinTech Taulia in a bid to develop and enhance its working capital solutions. The partnership is expected to boost UniCredit’s existing supply chain finance platform and allow for simplified integration into corporates’ enterprise resource planning (ERP) systems.
  • Sarah Williams Joins Viva Capital as Vice President of Sales
    June 17, 2020
    Viva Capital Funding (“Viva Capital”) is excited to announce the hiring of Sarah Williams as Vice President of Sales. The addition of Ms. Williams marks a new chapter in the continued growth of Viva Capital and furthers its commitment to maintaining its reputation as one of the leading specialty finance companies in the United States.
  • ProSight Specialty Insurance Announces Closing of New Debt Refinance Facility
    June 17, 2020
    ProSight Global, Inc. (NYSE: PROS) (ProSight) today announced that it has entered into a $165 million delayed draw term loan which will refinance existing indebtedness. The joint lead arrangers of the facility are SunTrust Robinson Humphrey and Citizens Bank, N.A.
  • MFA Financial, Inc. Provides First Quarter 2020 Financial Results, Announces $500 Million Capital Raise with Apollo and Athene and $1.65 billion Committed Term Borrowing Facility
    June 17, 2020
    MFA announced today a $500 million capital raise through a private senior secured loan agreement to be funded by certain funds and accounts managed by subsidiaries of Apollo Global Management, Inc. (together with such funds and accounts, "Apollo"), including subsidiaries of Athene Holding Ltd. ("Athene"), to which Apollo provides asset management and advisory services. The Company is entering into commitments for a non-mark-to-market term borrowing facility of approximately $1.65 billion from Barclays and Athene. Barclays served as exclusive financial advisor to Apollo and Athene. Houlihan Lokey served as financial advisor to MFA.
  • J.Jill Inches Toward Potential Bankruptcy as It Enters Forbearance
    June 16, 2020
    The struggling womenswear chain has entered into two forbearance agreements after falling out of compliance with certain covenants under its asset-based lending and term loan credit facilities. As part of the respective deals, its lenders have agreed not to exercise any rights and remedies against the company until July 16. So long as it remains compliant with the terms of those agreements, J.Jill has been granted a month to explore financial options as it grapples with cash flow challenges that have accelerated amid the coronavirus pandemic.
  • Bradley Adds Attorney George Barber To Bankruptcy Practice In Dallas
    June 16, 2020
    Bradley Arant Boult Cummings LLP is pleased to announce that George Barber has joined the firm's Bankruptcy and Creditors' Rights Practice Group in Dallas. "We are pleased to have George join us in the Dallas office," said Bradley Dallas Office Managing Partner Richard A. Sayles. "His experience handling a wide variety of bankruptcy matters further expands the capabilities of our Dallas office and enhances the strengths of the firm nationally."
  • Cheniere Energy, Inc. Announces Commitments for Term Loan Facility to Refinance Convertible Notes
    June 16, 2020
    Cheniere Energy, Inc. (NYSE American: LNG) announced today that it has obtained commitments from 17 financial institutions for an approximately $2.5 billion three-year delayed draw Senior Secured Term Loan at Cheniere Energy, Inc. (the “Cheniere Term Loan”), with the ability to add further commitments from additional financial institutions.
  • Xalles Capital to Launch Fintech Growth Center
    June 16, 2020
    Xalles Holdings Inc. (OTC: XALL), a fintech holding company providing technology and financial services solutions, today announces that it is launching a Fintech Growth Center. Xalles Capital Inc., a wholly owned subsidiary of Xalles Holdings Inc., is creating the world’s first virtual growth center for fintech firms. Many small fintech companies are searching for assistance to grow from startup or seed financing to mid-tier financing and ultimately achieve a major financial event.
  • Veritex Adds Depth to its Executive Management with Texas Banking Veterans James D. Recer and Cara McDaniel
    June 16, 2020
    Mr. Recer brings over 30 years of banking experience to Veritex Bank’s senior executive management team. His role at Veritex will be to lead the company’s efforts in all revenue initiatives and to develop scalable strategies designed to support the Bank's organic growth. Cara McDaniel has been named Senior Executive Vice President and Chief HR/Talent Officer at Veritex Community Bank. Ms. McDaniel brings over 20 years of banking and financial institution experience to Veritex.
  • Contango Announces Amendment to its Senior Credit Facility, Certain Operational Updates and the Schedule for its First Quarter 2020 Earnings Release
    June 16, 2020
    On June 9, 2020, the Company entered into the Second Amendment (Credit Agreement Amendment) to the Credit Agreement, dated as of September 17, 2019, by and among the Company, JPMorgan Chase Bank, N.A., as administrative agent, and the other participating lenders thereto. The Credit Agreement Amendment provides for, among other things, a slight increase in the applicable margin of the borrowing base utilization-based pricing grid, a reduction of the borrowing base to $95.0 million on the effective date of the Credit Agreement Amendment, with further $10.0 million automatic borrowing base reductions on each of June 30, 2020 and September 30, 2020, the suspension of testing the current ratio financial covenant until the fiscal quarter.
  • Seacoast Banking Corporation of Florida Announces CEO Succession Plan
    June 16, 2020
    Seacoast Banking Corporation of Florida (NASDAQ: SBCF) (the “Company” or “Seacoast”) today announced that Charles (Chuck) Shaffer, current executive vice president, chief operating officer (COO), and chief financial officer (CFO), has been promoted to president and COO and will become chief executive officer (CEO) and a member of the Company’s board of directors in December 2020. Tracey Dexter, the Company’s current controller, has been promoted to executive vice president and CFO. Dennis S. Hudson, III, the Company’s current chairman of the board of directors and CEO, will become executive chairman of the board of directors in December 2020. Jennings “Jay” Walker, the Company’s current treasurer, has been promoted to executive vice president, treasurer and director of corporate strategy.
  • Franklin Capital Provides A/R Financing Facilities to a PPE Supplier and an IT Equipment Supplier
    June 16, 2020
    Franklin Capital provided a $1,000,000 accounts receivable financing facility to a supplier of personal protective equipment (PPE) and a $3,000,000 accounts receivable financing facility to a UK-based IT equipment supplier.
  • B. Riley Financial's GA Global Partners to Conduct Public Auction of Second Sight Medical Products, Inc.
    June 16, 2020
    GA Global Partners, a B. Riley Financial company, today announced that it will conduct an online public auction of the assets of Second Sight Medical Products, Inc. on June 25, 2020. Second Sight, a developer and manufacturer of implantable visual prosthetics for blind individuals, created the only FDA-approved implantable visual prosthetic treatment for severe Retinitis Pigmentosa. GA Global is conducting the auction of Second Sight’s assets in connection with the orderly wind down of its operations.
  • Clear Channel Outdoor Holdings, Inc. Announces Amendment To Credit Agreement
    June 15, 2020
    Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) (the "Company") today announced that it has entered into an amendment (the "Amendment") to the Company's credit agreement, dated as of August 23, 2019 (the "Credit Agreement"), with several of its lenders.
  • WW International Provides Update on Strong Momentum in Digital Trends, Studio Reopening Plans, and Amended Revolving Credit Facility
    June 15, 2020
    As WW International, Inc. (NASDAQ: WW) continues to advance its digital transformation, the Company today provided an update on recent membership trends and its Studio reopening plans, and announced added financial flexibility pursuant to an amendment to its revolving credit facility. The Company has amended its revolving credit facility, increasing the commitments to $175 million from $150 million and raising the consolidated first lien net debt leverage ratio required by the financial maintenance covenant, together providing for significantly more flexible access to liquidity.
  • InterNex Capital and Utech Global Enter Into Memorandum of Understanding (MOU) to Form a Digital Partnership
    June 15, 2020
    InterNex Capital is pleased to announce that they have entered into an MOU with Utech Global (www.utechcorp.com). Under this Digital Partnership, Utech's GPSTab™ and TMS platforms will be integrated with InterNex’s Velocity™ platform to provide a comprehensive turnkey solution for Utech’s clients who are looking for a better solution to manage their Transportation business while optimizing their working capital.
  • Section 363 Sales Beckon U.S. Real Estate Investors, Notes A&G Executive
    June 15, 2020
    Structured process stands to yield strong acquisition opportunities in retail, office, education, student housing and other sectors, advises Jeff Hubbard in Zoom panel discussion.
  • J D Factors Announces Factoring Facilities
    June 15, 2020
    J D Factors announced the following factoring facilities: $100,000 to a transportation company in Alberta;$250,000 to a transportation company in Pennsylvania; $300,000 to a transportation company in Quebec...
  • New Look Vision Group Inc. Announces the Completion of New Financing Arrangements
    June 15, 2020
    New Look Vision Group Inc. ("New Look Vision" or the "Company") (TSX: BCI) announced today the finalization of new financing arrangements for $40 million. With an initial investment in 2013, Fonds de solidarité FTQ (the “Fonds”) reaffirms its confidence in the Company by investing an additional $40 million. The credit facility granted to New Look vision is part of the Fonds' plan to support Québec businesses during the COVID-19 pandemic.
  • Skillsoft Enters Into Agreement with Lenders to Significantly Reduce Debt and Position Company for Long-Term Success
    June 15, 2020
    Skillsoft Corporation, a global leader in corporate learning, today announced that it has entered into a Restructuring Support Agreement (“RSA”) with an overwhelming majority of its first and second lien lenders. The RSA is expected to result in a comprehensive de-levering of the Company’s balance sheet by reducing the Company’s existing first lien and second lien debt to $410 million from approximately $2.0 billion, with total debt (including working capital financing) aggregating $585 million, lowering the Company’s annual cash interest by approximately $100 million. Weil, Gotshal & Manges LLP is serving as legal counsel to Skillsoft, Houlihan Lokey Capital, Inc. is serving as investment banker, and AlixPartners LLP is serving as financial advisor.
  • 24 Hour Fitness Sets Course for the Future with Financial Restructuring; Nationwide Club Reopenings Underway
    June 15, 2020
    24 Hour Fitness (the “Company”), an industry-leading fitness brand for over 35 years, today announced that, due to the disproportionate impact of the COVID-19 pandemic, the Company has voluntarily filed for relief under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware. In conjunction with the Chapter 11 filing, the Company expects to secure approximately $250 million in debtor-in-possession (DIP) financing. Lazard is acting as financial advisor, FTI Consulting is acting as restructuring advisor and Weil, Gotshal & Manges LLP is acting as the Company’s legal counsel in connection with the Company’s Chapter 11 cases.
  • Playa Hotels & Resorts N.V. Announces Additional Financing of $224 Million and Amendment to Amended & Restated Credit Agreement
    June 15, 2020
    Playa Hotels & Resorts N.V. (NASDAQ: PLYA) (the “Company”) today announced that it has raised $204 million of additional debt financing, has sold $20 million of its ordinary shares at a price of $4.10 per share in a private transaction, and has entered into the Fourth Amendment to Amended & Restated Credit Agreement with its senior secured credit facility lenders. The Company has raised $204 million of additional debt financing from affiliates of Davidson Kempner Capital Management LP.
  • Medley Capital Corporation Subject to Monthly Expense Support, Houlihan Lokey Commenced Strategic Review Process
    June 15, 2020
    Medley Capital Corporation announced today that, on June 12, 2020, the board of directors of the Company, including its special committee, has approved an expense support agreement under which MCC Advisors LLC and Medley LLC agreed (jointly and severally) to cap the management fee and all of the Company’s other operating expenses (except interest expenses, certain extraordinary strategic transaction expenses, and other expenses approved by the Special Committee at $667,000 per month.
  • Cerence Announces the Successful Completion of Its Debt Refinancing
    June 15, 2020
    Cerence Inc. (NASDAQ: CRNC), AI for a world in motion, today announced that the Company has successfully completed the refinancing of its senior secured term loan B and revolving credit facility through a combination of proceeds from the recent sale of $175 million 3% convertible senior notes due 2025 and a new $125 million senior secured term loan A credit facility. The Company expects to realize significant interest savings as a result of the successful completion of its debt refinancing.
  • Petrus Resources Announces Extension to Credit Agreement
    June 15, 2020
    Petrus Resources Ltd. announces its syndicate of lenders has extended the borrowing base termination date on its revolving credit facility agreement from June 15, 2020 to June 22, 2020.
  • Kongsberg Automotive Renegotiated Terms for its Revolving Credit Facility
    June 15, 2020
    Kongsberg Automotive has renegotiated certain terms of its Euro 70 million revolving credit facility with its banks, Danske Bank and J P Morgan.
  • Federal Reserve’s Main Street Lending Program Opens for Lender Registration
    June 15, 2020
    The Federal Reserve’s Main Street Lending Program is now open for lender registration. Lenders can find the necessary registration documents on the program site and are encouraged to begin making Main Street program loans immediately.
  • Amazon Unveils Small Business Credit Line with Goldman in Latest tie-up Between Tech and Wall Street
    June 15, 2020
    Amazon is introducing a new digital credit line for U.S.-based merchants with partner bank Goldman Sachs, CNBC has learned exclusively. Small business owners who sell items on the e-commerce giant’s platform will soon be receiving targeted invitations from Goldman’s Marcus brand for credit lines of up to $1 million, according to people with knowledge of the project.
  • Goldman Sachs BDC (GSBD) Amends & Restates Merger Agreement
    June 15, 2020
    Goldman Sachs BDC GSBD and Goldman Sachs Middle Market Lending Corp., the specialty finance companies of Goldman Sachs GS have amended and restated their merger agreement dated Dec 9, 2019. Both Goldman Sachs BDC and Goldman Sachs Middle Market Lending Corp. are the affiliated business-development companies that are managed by Goldman Sachs’ wholly-owned subsidiary, Goldman Sachs Asset Management, L.P.
  • xtraction Oil & Gas, Inc. Files for Chapter 11 Protection
    June 15, 2020
    Extraction Oil & Gas, Inc. (NASDAQ: XOG) (together with its subsidiaries, “Extraction” or the “Company”) announced today that the Company has voluntarily filed for petitions for relief under chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware (the “Court”). The Company has obtained a committed $125 million debtor-in-possession financing facility (the “DIP Facility”), which contemplates $50 million in new money, up to $15 million of which will become immediately available upon Bankruptcy Court’s order, and a “roll up” of $75 million of revolving loans under the Company’s existing revolving credit agreement. The DIP Facility is underwritten by Wells Fargo Bank, National Association .
  • North Mill Capital Provides Accounts Receivable Facility
    June 15, 2020
    North Mill Capital provided a $750,000 accounts receivable facility for GearTek, Inc. The funds were used to pay off the previous lender and provide additional working capital for the company.
  • SFNet NorCal Chapter June 2020 Newsletter
    June 15, 2020
  • TD Bank Appoints New Head of Small Business Specialists
    June 15, 2020
    TD Bank, America's Most Convenient Bank®, has named Jeff Fazio Head of Small Business Specialists, a new role created to lead the Specialist team of approximately 100 employees throughout TD's Maine to Florida footprint that focus on small businesses with revenues of $1 million and under. In this position, Fazio will oversee pipeline management, work with product teams on strategy and product enhancement and closely collaborate with the Small Business Credit Center to refine the lending process.
  • Revitalization Partners Expands Corporate and Board Advisory Practice
    June 15, 2020
    Revitalization Partners adds Rod Stevens, a seasoned executive who has successfully turned around complex commercial real estate projects on behalf of high net worth individuals, financial institutions, development firms and municipalities, to the Seattle-based corporate advisory firm. He will serve as Senior Director.
  • U.S. High Yield Default Rate to Hit 5% with Imminent Energy Bankruptcies
    June 15, 2020
    The U.S. high yield default rate is poised to reach 5% in June for the first time since July 2016, up from 4.6% at May 31 driven by energy defaults, according to a new Fitch Ratings report.
  • Pipestone Energy Corp. Announces it Has Successfully Maintained Its $225 Million Reserve Based Loan and Provides an Operations Update
    June 15, 2020
    Pipestone Energy Corp. (“Pipestone Energy” or the “Company”) is pleased to announce that it has successfully redetermined its Reserve Based Loan (“RBL” or “Credit Facility”) with its syndicate of banks, maintaining its credit capacity of $225 million. Pipestone Energy has closed on its RBL redetermination with its corporate banking syndicate, consisting of National Bank Financial Inc., Bank of Montreal, ATB Financial, and Canadian Western Bank...
  • MUFG Sees Divergent Effects of COVID-19 Pandemic on Tech and Telecom Companies
    June 15, 2020
    Remote work, home sheltering, store closures, supply-chain disruptions and declining ad expenditures among largest drivers.
  • Capital Southwest Supports Coastal Television Broadcasting’s Acquisition of Wyoming Media Group
    June 15, 2020
    Capital Southwest Corporation, 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 Coastal Television Broadcasting Holdings LLC and its affiliates’ recent acquisitions of stations controlled by Wyoming Media Group (collectively, “WMG”) with term loans and a revolving credit facility. Capital Southwest led the financing transaction and will act as the sole administrative agent on the credit facilities. Main Street Capital Corporation was a co-investor in the credit facilities.
  • Brink’s Amends Credit Facility to Provide Additional Financial Flexibility
    June 15, 2020
    The Brink’s Company (NYSE:BCO) today announced an amendment to its existing credit agreement that provides long-term covenant relief and added flexibility to execute its strategic plan. The amendment changes the methodology for calculating the company’s leverage ratio by using a net first lien leverage ratio (net secured debt leverage ratio) instead of a total net debt leverage ratio.
  • SFNet CEO Reiterates Call for Eligibility of Secured Lenders as Borrowers Under PPP
    June 11, 2020
    In response to the newly passed Paycheck Protection Program Flexibility Act, SFNet issued a letter to Treasury Secretary Mnuchin, SBA Administrator Carranza and Members of Congress reiterating its calls to make secured lenders and factors eligible as borrowers under the Paycheck Protection Program Interim Final Rule, noting that these institutions "who are a critical conduit of capital flows for our economy are now facing material economic hardship, not only from reduced economic activity, but by the displacement of revenue streams due to the success of PPP!"
  • Umpqua Bank Promotes Tory Nixon To President Former Chief Banking Officer to lead Umpqua's Growth Strategy
    June 11, 2020
    Umpqua Bank, a subsidiary of Umpqua Holdings Corporation (NASDQ: UMPQ), announced today that Tory Nixon has been promoted from chief banking officer to bank president. The announcement is part of Umpqua's increasing focus on serving the small and middle market businesses that are such a critical part of local economies across the West Coast. Cort O'Haver will continue to serve as CEO of both Umpqua Bank and Umpqua Holdings.
  • Tailored Brands may Seek Chapter 11 Protection if COVID Effect Continues
    June 11, 2020
    Men’s Wearhouse owner Tailored Brands Inc. said on Wednesday it may have to seek bankruptcy protection or discontinue operations, if the COVID-19 crisis continues to pummel sales. The retailer said it has taken “decisive actions to manage liquidity”, including borrowing money, while opening nearly half of its stores across the United States and Canada.
  • Calpine Corporation Announces Closing of $1.1 Billion Climate Bonds Certified Financing for The Geysers Power Company, LLC
    June 11, 2020
    MUFG Bank, BNP Paribas, Crédit Agricole, Natixis, Mizuho Bank, National Bank of Canada, Sumitomo Mitsui, SunTrust Robinson Humphrey, CoBank, Rabobank, ING Capital and DZ Bank acted as lead arrangers on the transaction.
  • DiamondRock Hospitality Company Successfully Secures Financial Covenant Waivers For Credit Agreements
    June 11, 2020
    DiamondRock Hospitality Company (the "Company") (NYSE: DRH), a lodging-focused real estate investment trust that owns a portfolio of 31 premium hotels in the United States, announced today that it successfully finalized an amendment to the credit agreement for its $400 million revolving credit facility and $350 million unsecured term loan and the credit agreement for its $50 million unsecured term loan (collectively, the "Credit Amendments").
  • Liquid Finance Helps Large Agriculture Equipment Manufacturer GVM, Inc. Exit Chapter 11 Bankruptcy in Post COVID-19 Environment
    June 11, 2020
    GVM Inc. of Biglerville, PA, an American manufacturer of high-end agriculture equipment called Prowler Double Duty Spreaders and Mako Sprayers, has exited Chapter 11 Bankruptcy in a transaction with Liquid Finance. With the reorganization, GVM has cleaned their balance sheet, allowing them to continue manufacturing state of the art agriculture and snow equipment in their facilities in Ohio, Pennsylvania, Missouri, and Indiana. Liquid Finance structured a transaction that helps GVM grow distribution across North America.
  • Main Street Lending Program Forms and Agreements - Federal Reserve Bank of Boston
    June 11, 2020
    The Federal Reserve has announced that it is establishing a Main Street Lending Program (Program) to support lending to small and medium-sized businesses that were in sound financial condition before the onset of the COVID-19 pandemic.
  • Largely Untouched by COVID-19 Fallout in Q1, Banks and Independents Report ABL Growth
    June 11, 2020
  • Danaher Replaces Previous $5B Credit Facility with New $2.5B Facility
    June 11, 2020
    In documents filed with the US Securities and Exchange Commission on Wednesday, Danaher disclosed it entered into a new $2.5 billion 364-day revolving credit facility with Bank of America as administrative agent on June 5.
  • LivaNova Announces New Senior Secured Credit Facility
    June 11, 2020
    LivaNova PLC (NASDAQ:LIVN) (“The Company” or “LivaNova”) today announced its entry into a five-year $450 million senior secured credit facility (the “Credit Facility”) through its wholly owned U.S. subsidiary, LivaNova USA, Inc. with funds managed by affiliates of Ares Management Corporation, as administrative agent and collateral agent. Goldman Sachs & Co. LLC served as exclusive advisor to LivaNova in connection with the Credit Facility.
  • Goldman Sachs BDC, Inc. and Goldman Sachs Middle Market Lending Corp. Announce Amended and Restated Merger Agreement
    June 11, 2020
    Goldman Sachs BDC, Inc. and Goldman Sachs Middle Market Lending Corp. announced today that they have amended and restated the Agreement and Plan of Merger, dated December 9, 2019. GSBD and MMLC are affiliated business development companies that are managed by Goldman Sachs Asset Management, L.P.. BofA Securities, Inc. served as financial advisor and Dechert LLP serves as the legal counsel to the special committee of GSBD. Morgan Stanley & Co. LLC served as financial advisor and Eversheds Sutherland (US) LLP serves as the legal counsel to the special committee of MMLC. GSAM’s legal advisor is Wachtell, Lipton, Rosen & Katz.
  • GreenSky, Inc. Announces Closing of $75 Million Incremental Term Loan
    June 11, 2020
    GreenSky, Inc. (“GreenSky” or the “Company”) (NASDAQ: GSKY), a leading financial technology company Powering Commerce at the Point of Sale®, today announced the closing of a $75 million incremental Term Loan B facility, the proceeds of which will be used for general corporate purposes and to enhance the Company’s overall liquidity position. JP Morgan Chase Bank, N.A., acted as sole lead arranger and bookrunner for this transaction.
  • Chimera Closes $400 Million Capital Commitment Led by Funds Managed by Ares Management Corporation
    June 11, 2020
    Chimera Investment Corporation (NYSE: CIM) (“Chimera”) today announced the closing of a three-year $400 million secured loan commitment led by funds managed by the Alternative Credit Strategy at Ares Management Corporation (“Ares”).
  • Organizers Planning de novo Bank in New York City
    June 10, 2020
    NBF Holdings would be the holding company for NewBank, according to an application filed with the Office of the Comptroller of the Currency. Organizers have also applied with the Federal Deposit Insurance Corp. for deposit insurance. NewBank would be “primarily focused on providing credit, payments and deposits to consumers and businesses nationwide,” the filing says. “The bank will source customers and depositors largely through strategic partnerships, primarily with non-depository finance companies, original equipment manufacturers, retailers and technology companies.”
  • Surplus Professional AV Production Gear from The Camera Division and Cinema Verde Productions Set for Online Auction by Tiger Group on June 16
    June 10, 2020
    Surplus professional AV production gear from equipment rental and production houses The Camera Division and Cinema Verde Productions are hitting the block on June 16 in a combined online-only auction conducted by Tiger Group.
  • Francisco Partners Announces Close of $750 Million Credit Fund
    June 10, 2020
    Francisco Partners (FP) today announced the closing of FP Credit Partners, L.P., a $750 million opportunistic credit fund focused on the rapidly expanding technology credit market.
  • Bob Olsen Promoted to Lead Ankura's Global Cybersecurity and Privacy Group
    June 10, 2020
    Ankura, a global business advisory and expert services firm, today is pleased to announce the appointment of Bob Olsen, Senior Managing Director, to the position of Global Head of Cybersecurity and Privacy, effective immediately. Based in Baltimore, Mr. Olsen will be responsible for supporting the continued expansion and growth of the firm's cybersecurity and privacy practices in both existing and developing markets.
  • Balbec Capital Raises $1.2 Billion for Latest Global Credit Fund
    June 10, 2020
    Balbec Capital, LP, a global alternative asset manager with expertise sourcing and investing in bankrupt and insolvent credit, has completed the final close of InSolve Global Credit Fund IV, L.P. (the Fund), with total commitments of approximately $1.2 billion. This exceeds the Fund's $1 billion target and makes it Balbec's largest fund to date. The Fund received significant backing from current Balbec clients and welcomed a number of new global institutional investors.
  • Reich Bros Structured Finance to Operate as “Align Business Finance”
    June 10, 2020
    Reich Bros Structured Finance (RBSF ) has announced its subsidiary, Reich Bros Business Solutions, LLC, a leading provider of capital solutions to companies across a wide range of industries, will operate, effective immediately, under the name Align Business Finance (www.alignbusinessfinance.com). The new name more accurately addresses the company’s customer philosophy, which is to align with itsborrowers’ financial needs, and provide capital so our clients can Align their business
  • Loeb Term Solutions Provides Term loans on $10M In Machinery this Quarter for Nine Satisfied Clients and Expands Sales Force
    June 10, 2020
    In the past 2 months nine clients were able to grow their businesses by leveraging working capital from their machinery with equipment financing provided by Loeb Term Solutions. These winning solutions amount to $10 million in covenant-free financing for businesses ranging from transportation to earth moving, from a truck fabricator to an underground utility contractor, from a steel producer to a protein producer, and several others.
  • Sallyport Commercial Finance Structures a Multi-Million Dollar Credit Facility for an Electronics Company
    June 10, 2020
    Sallyport Commercial Finance arranges a $3,000,000 accounts receivable facility for a national distributor of gaming and consumer electronics. Due to the COVID-19 pandemic, the business has expanded their products to include personal protective equipment such as masks and gloves.
  • Highlight of Changes Made to Main Street Lending Program
    June 9, 2020
    Clayton Stallbaumer and Staci Rosche of McGuireWoods summarized the changes to the MSLP, which were announced on Monday.
  • Clear Thinking Group Promotes Brian Allen to Senior Managing Director
    June 9, 2020
    Clear Thinking Group LLC, the award-winning business advisory firm, is pleased to announce the promotion of Brian Allen to Senior Managing Director effective immediately. Mr. Allen has over twenty-five years of experience serving in Controller and CFO positions with both public and private companies.
  • Albireo Announces Two Financing Transactions to Extend Cash Runway Into the Beginning of 2022
    June 9, 2020
    Under the updated terms of the agreement with HCR, the company will receive an additional $15 million on top of the $45 million royalty financing commitment HCR made in 2018 for royalty rights based on sales for elobixibat in the treatment of chronic constipation in Japan. Under the terms of the new agreement with Hercules Capital, Albireo may access up to $80 million of new capital, with an initial minimum of $10 million drawn down on a first available tranche of $15M, and additional tranches based on regulatory and other milestones.
  • Huntington Business Credit Announces $11.5 Million in Credit Facilities with Robinson Fans Holdings, Inc.
    June 9, 2020
    Robinson Fans Holdings, Inc., located in Zelienople, Pennsylvania, is a designer and manufacturer of industrial fans and air moving equipment.
  • TAB Bank Provides Consumer Lighting Products Company in Utah with an $8 Million Revolving Credit Facility
    June 9, 2020
    TAB Bank is pleased to announce it has provided an $8 million asset-based revolving credit facility for a consumer lighting products company based in Utah. The new facility is extended through a multi-year agreement and will provide for the ongoing working capital needs for the company.
  • Bright Mountain Media Completes Accretive Acquisition of CL Media Holdings d/b/a/ Wild Sky Media
    June 9, 2020
    Wild Sky Media, an interactive media company and home to parenting and lifestyle brands CafeMom, Mom.com, LittleThings, Revelist, Babynamewizard, and MamasLatinas. The transaction was completed on a debt-free and cash-free basis, free and clear of any liens and encumbrances for a total enterprise value of $15.0 million, in addition to 2.5 million shares of common stock of Bright Mountain Media, Inc. Centre Lane funded a $15.0 million first lien senior secured term loan to Bright Mountain Media to finance the purchase price at closing.
  • Macy’s, Inc. Raises Approximately $4.5 Billion in Financing
    June 9, 2020
    Credit Suisse and JP Morgan served as joint physical book runners on the company’s senior secured notes issuance. Bank of America and Goldman Sachs served as book runners on the notes issuance. Bank of America is serving as the Administrative Agent and Lead Arranger on the company’s asset-based credit agreement.
  • Rayonier Advanced Materials Announces Credit Agreement Amendment Providing Extended Financial Covenant Relief and Additional Liquidity
    June 8, 2020
    Rayonier Advanced Materials Inc. (the “Company”) today announced that, in working with its lenders under its Senior Secured Credit Agreement, it has entered into an amendment (the “Amendment”) under which, among other changes, the lenders have agreed to relax the financial covenants through 2022. In addition, the Amendment provides additional liquidity to the Company by reducing the minimum availability the Company is required to maintain under its revolving credit facility. The Amendment added a 1 percent LIBOR floor and lenders were paid a customary fee as consideration for their consent to the Amendment.
  • Serta Simmons Bedding Enters Into Agreement with Majority of Lenders on Deleveraging and Liquidity Enhancing Transaction
    June 8, 2020
    Serta Simmons Bedding, LLC ("SSB" or the "Company"), the largest manufacturer and distributor of mattresses in North America, today entered into a transaction support agreement with a majority of its First Lien and Second Lien Term Loan Holders to recapitalize the Company. The transaction is expected to reduce net debt by approximately $400 million, and further provides for $200 million in new capital to increase its financial strength and support the acceleration of SSB's business transformation plan.
  • Orion Group Holdings, Inc. Announces Additional $20 Million Revolver
    June 8, 2020
    Orion Group Holdings, Inc. (NYSE: ORN) (the "Company") a leading specialty construction company, today announced it has entered into an amendment to its existing credit agreement with Regions Bank and other lenders, providing for a new $20 million revolving credit facility to supplement its existing $50 million revolver. The new revolver will have a term of one year.
  • Douglas Dynamics Refinances $375 Million Credit Facility