• Qumu Secures $10 Million Revolving Credit Facility, Providing Additional Financial Flexibility to Execute SaaS Growth Strategy
    January 20, 2021
    Qumu Corporation (Nasdaq: QUMU), a leading provider of cloud-based enterprise video technology for organizations of all sizes, has closed a $10 million revolving credit facility with Wells Fargo Bank, NA. The revolving credit facility availability is determined by recurring revenue, and has a maturity date of January 15, 2023.
  • Amerisource Closes $1,000,000 Credit Facility for Staffing Firm
    January 20, 2021
    Amerisource Business Capital announced the closing and funding of a $1,000,000 senior credit facility for a Texas based healthcare staffing firm. The proceeds were used to refinance the Company’s prior lender and to provide additional growth capital.
  • Encina Business Credit Provides $35 Million Revolving Credit Facility to Retailer
    January 20, 2021
    Encina Business Credit, LLC announced today that it has provided a $35 million senior secured revolving credit facility to a retailer. The senior secured revolving line of credit, which is collateralized by accounts receivable and inventory, was used to refinance the borrower’s existing facility.
  • Sterling National Bank Provides $8,500,000 Secured Credit Facilities
    January 20, 2021
    Sterling National Bank's Commercial Services Group provided senior secured credit facilities totaling $8,500,000 to Ice Air, LLC. The credit facilities will refinance the company’s existing debt as well as provide working capital to further expand and support the Company’s future projected growth.
  • CapFlow Funding Hires Tom Harris, Chicago-based Business Development Officer
    January 20, 2021
    CapFlow Funding Group (“CapFlow”) is pleased to announce the appointment of Tom Harris as Senior Vice President of Business Development. Based in Chicago, IL, Harris will drive new business efforts in both the Midwest and nationwide. “Tom brings 25 years of commercial finance experience to CapFlow, where he will continue to provide innovative financing solutions to his clients. We are pleased to have Tom join our sales team,” said CEO Andrew Coon.
  • Announcing Assembled Brands' $4M Partnership with Hammitt
    January 20, 2021
    Today, Assembled Brands is thrilled to celebrate the closing of a new $4 million revolving line of credit with Hammitt, a premium line of handbags and accessories that's a beloved favorite among retail partners and digital shoppers alike. Through this partnership, the LA-based company will further extend their marketing efforts and continue to expand their inventory assortment.
  • TAB Bank Provides Manufacturing Company in Michigan with a $1.5 Million Asset-Based Credit Facility
    January 20, 2021
    TAB Bank is pleased to announce it has provided a $1.5 million asset-based credit facility for a manufacturing company based in Michigan. The facility is based on a multi-year agreement and will provide for the company’s ongoing working capital needs. The company manufactures and provides electrical assembly, wiring, and connections for the robotics and assembly lines used in the U.S. automotive industry.
  • Synalloy Signs New Revolving Credit Facility Provided by BMO Harris Bank, N.A. as Agent and Sole Lender
    January 20, 2021
    Synalloy Corporation (NASDAQ:SYNL) (“Synalloy” or the “Company”) today announced that it has entered into a new, four-year revolving credit facility that provides up to $150 million of borrowing capacity. The new facility matures on January 15, 2025 and replaces and terminates the previous $100 million revolving facility that was scheduled to mature on December 21, 2021 and the $20 million term loan facility scheduled to mature on February 1, 2024. The new facility was provided by BMO Harris Bank, N.A. as Agent and sole lender.
  • Porter Capital Closes the Year by Funding a $20M Facility in Just Three Weeks
    January 19, 2021
    Porter Capital, a leading provider of accounts receivable financing and asset-based lending solutions for businesses nationwide, announced the funding of a $20 million facility in just three weeks. The client is a publicly-traded company who specializes in manufacturing machine tools and machines. The company sought a $20,000,000 line to be drawn down to enhance the balance sheet before year-end.
  • Karl Pearson Join Paladin As Partner
    January 19, 2021
    Paladin, the fast-growing middle market advisory firm driving value-creation through financial and operational consulting services, today announced that Karl Pearson has joined its team as a Partner. Karl is a seasoned leader in transforming organizations, driving growth and positioning companies for long-term sustainability and profitability.
  • Moore & Van Allen Represents Left Lead Arranger and Administrative Agent in $2 Billion ESG-linked Syndicated Revolving Credit Facility
    January 19, 2021
    Moore & Van Allen PLLC (MVA) is pleased to announce that the firm represented the left lead arranger and the administrative agent in connection with a $2 billion syndicated revolving credit facility for Flex Ltd. The credit facility includes a feature directly linking interest payments and fee amounts to certain environmental, social and governance (ESG) metrics, including greenhouse gas emissions and workplace safety.
  • Concord Closes $6MM Deal for CoreCentric Solutions
    January 19, 2021
    Concord Financial Advisors, LCC served as exclusive financial advisor and arranged $6 million in senior debt for CoreCentric Solutions, Inc., Carol Stream, IL. The senior secured revolving line of credit will be used to refinance existing debt and support working capital.
  • Versant Funding LLC Funds a $1.2 Million Non-recourse Factoring Facility to a Distributor
    January 19, 2021
    Versant Funding LLC is pleased to announce it has funded a $1.2 million non-recourse factoring facility to a distributor serving the academic and commercial medical research communities. This company required a quick infusion of cash as a bridge to a planned capital raise. The existing investors were unwilling to contribute additional equity into the business, so they looked to factoring as a non-dilutive alternative to generate the cash needed until the capital raise was complete.
  • B. Riley Real Estate and NAI Global Lead Sale of Former Remington Manufacturing and Office Facilities in Huntsville, Alabama and Madison, North Carolina
    January 19, 2021
    B. Riley Real Estate (“B. Riley”) and NAI Global (“NAI”) today announced the former manufacturing facilities and corporate office buildings of Remington Outdoor Co. (“Remington”) located in Huntsville, AL and Madison, NC are available for sale and/or lease. B. Riley and NAI are serving as co-listing agents for the properties in connection with the recent bankruptcy and asset auction of the 200-year-old firearms and ammunition maker.
  • Oxane Signs Three Global Investment Banks for its Illiquid Credit Portfolio Management Solution
    January 19, 2021
    Oxane Partners, a leading technology-driven solutions provider to private markets, announced signing three bulge bracket investment banks across the US and Europe for its illiquid credit portfolio management solution - Oxane Panorama. With more than $200 billion of notional hosted on Oxane's platforms, Oxane is at the forefront of the digitalization drive in the private markets space.
  • Samuel L. Shimer Named Chair of Heritage Global Board of Directors
    January 19, 2021
    Heritage Global Inc. (NASDAQ: HGBL) (“Heritage Global,” “HGI” or “the Company”), an asset services company specializing in financial and industrial asset transactions, today announced that Samuel L. Shimer has been elected Chair of its Board of Directors. Former Chair and Board of Directors member Allan C. Silber has resigned from Heritage Global’s board, effective at the close of the March board meeting, following a long tenure with, and stewardship of, the Company, to focus on other business commitments.
  • Peoples Bank Welcomes Rob Camandona as a Vice President and Commercial Banking Officer
    January 19, 2021
    Peoples Bank has announced the appointment of Rob Camandona as a Vice President and Commercial Banking Officer in the Bellingham Commercial Banking Group. Rob brings over a decade of experience in the financial services industry, having served as a credit analyst and commercial loan officer.
  • Bryn Mawr Trust Adds George Robostello as South Jersey Managing Director of Commercial Banking
    January 19, 2021
    Bryn Mawr Trust (BMT), wholly owned by Bryn Mawr Bank Corporation (NASDAQ: BMTC), announced today that George Robostello has joined the company as Senior Vice President and Managing Director of Commercial Banking, Southern New Jersey region. He reports directly to Jim Donovan, Head of Commercial and Industrial Banking, and will build a team of commercial bankers focused on the New Jersey region.
  • In the Initial Transaction of its Ten-Year Anniversary, Abacus Finance Provides $26.3 Million in Senior Debt Financing to Support the Leveraged Buyout of BioDerm, Inc. by Mountaingate Capital
    January 19, 2021
    In the first in transaction of its ten-year anniversary, Abacus Finance Group, LLC today announced that it served as Senior Secured Credit Facilities Administrative Agent and Lead Arranger for $26.3 million in senior secured credit facilities to support the leveraged buyout of BioDerm, Inc. by Mountaingate Capital. Abacus – a leading provider of cash flow-based, classic senior debt for sponsor-led buyouts of companies with $3 million to $15 million in EBITDA – also made an equity co-investment in BioDerm.
  • Rachael Sampson Named Director of Key4Women
    January 18, 2021
    KeyBank has named Rachael Sampson as Senior Vice President, Director of Key4Women. Sampson will lead a nationwide network to promote and support women business owners and clients toward growth. Sampson, who has been with KeyBank for 15 years, previously served as relationship manager, Commercial Banking, for KeyBank's Cincinnati Market.
  • Churchill Asset Management Achieves Record Capital Raising and Investment Activity in 2020
    January 18, 2021
    Churchill Asset Management (“Churchill” or the “Firm”), an investment-specialist affiliate of Nuveen providing customized financing solutions to private equity firms and their portfolio companies across the capital structure, today announced that it had achieved record levels for the firm in both capital raising and investment activity in 2020. Churchill raised over $6.4 billion of new committed capital in 2020, more than doubling 2019 fundraising figures, with an additional $2.2 billion expected to close in the first quarter of 2021.
  • Good Times Restaurants Inc. Amends Credit Facility
    January 18, 2021
    Good Times Restaurants Inc. (Nasdaq: GTIM), operator of Bad Daddy’s Burger Bar and Good Times Burgers & Frozen Custard, today announced that it has amended its credit agreement with Cadence Bank, which extends its maturity to January 2023 and adjusts the facility’s capacity initially to $11 million.
  • Charles River Associates (CRA) Increases Credit Facility by $50 Million
    January 18, 2021
    Charles River Associates (NASDAQ: CRAI), a worldwide leader in providing economic, financial, and management consulting services, today announced that the Company has increased its revolving credit facility from $125 million to $175 million. The additional $50 million in commitments will provide working capital to support continued growth in the business and fund other general corporate purposes. During the fiscal year ended January 2, 2021, CRA’s maximum fiscal quarter-end loan borrowings on its revolving credit facility were $70 million, which were completely repaid by year end.
  • Tradewind Finance Delivers $5 Million Credit Facility for Meat Trading Company based in USA with Subsidiary in Brazil
    January 18, 2021
    Tradewind Finance has completed a $5 million export factoring facility for a meat trading company that is based in the United States and has a subsidiary in Brazil. The company exports to the Middle East, South Africa, and Asia and is using the funding to support their growth.
  • Consolidated Communications Secures Incremental Term Loan Financing of $150 Million
    January 18, 2021
    Consolidated Communications (NASDAQ: CNSL) today announced it has secured and closed on an incremental $150 million term loan that is fungible with the Company’s existing First Lien Term Loan B with maturities due October 2027. JPMorgan Chase Bank, N.A., Morgan Stanley Senior Funding, Inc., Wells Fargo Securities, LLC, Goldman Sachs Bank, USA, Deutsche Bank Securities Inc., TD Securities (USA) LLC and Mizuho Bank, Ltd. served as lead arrangers and book runners for the financing.
  • Federal Communications Commission Approves Frontier’s Chapter 11 Restructuring
    January 18, 2021
    Frontier Communications Corporation (OTC: FTRCQ) (“Frontier Communications”) announced today that it has secured approval from the Federal Communications Commission (FCC) for its Chapter 11 restructuring. Frontier now has regulatory approvals, or favorable determinations, for its required change-in-control applications related to its court-supervised restructuring from the FCC and 13 states: Arizona, Georgia, Illinois, Minnesota, Mississippi, Nebraska, Nevada, New York, Ohio, South Carolina, Texas, Utah and Virginia.
  • Huntington Business Credit Announces a $17.5 Million Credit Facility with InfoCision Inc.
    January 18, 2021
    Huntington Business Credit announced it closed a new $17,500,000 credit facility with InfoCision Inc.on December 30, 2020. Proceeds of the facility were used to refinance existing indebtedness and to provide ongoing working capital growth financing. InfoCision Inc., located in Akron, Ohio, operates telemarketing call centers in 13 locations throughout Ohio, Pennsylvania and West Virginia.
  • Tradecycle Capital Delivers Two New Accounts Payable Finance Facilities in December
    January 18, 2021
    Tradecycle Capital, an Indianapolis-based trade finance provider, announced it funded two new revolving accounts payable funding facilities in November. The first, a $500,000 limit to a precision machining shop that focuses primarily on the automotive industry. The second was a $1,000,000 limit to a Canadian manufacturer of precision molds for injection molding of automotive parts. Both programs are supplemental to their senior lending facilities.
  • eCapital Commercial Finance Announces $1.5 Million Debtor in Possession (DIP) Financing for an Industrial LED Lighting Company
    January 18, 2021
    eCapital Commercial Finance (“eCapital”), a division of eCapital Corp., a leading North American alternative financing solution provider for small and medium-sized businesses, today announced it has provided a $1.5 million debtor in possession (DIP) factoring facility to an industrial LED lighting company in Chapter 11 bankruptcy. The company will utilize the factoring facility to continue operations as they move through the Chapter 11 process.
  • J D Factors Announces Factoring Facilities
    January 18, 2021
    J D Factors Announced it provided the following factoring facilities: $200,000 to a security company in Texas; $100,000 to a transportation company in Texas; $75,000 to a transportation company in Georgia; $50,000 to a transportation company in Arkansas
  • LSQ Provides $6 Million Facility To Digital Security Company
    January 18, 2021
    LSQ originated a $6 million credit facility late in the fourth quarter to a virtual credential solutions company gearing up for hyper-growth. After developing their product and receiving stellar feedback from the market, the company identified a need for capital to fuel their growth.
  • Horizon Technology Finance Provides $8 Million Venture Loan Facility to Clara Foods
    January 18, 2021
    Horizon Technology Finance Corporation (NASDAQ: HRZN) ("Horizon"), a leading specialty finance company that provides capital in the form of secured loans to venture capital backed companies in the technology, life science, healthcare information and services, and sustainability industries, announced today it has provided an $8 million venture loan facility to Clara Foods, Inc. ("Clara Foods"), of which $5 million has been initially funded.
  • Oxford Finance Leads $122 Million Financing for Tarrytown Expocare
    January 18, 2021
    Oxford Finance LLC (“Oxford”), a specialty finance firm that provides senior debt to life sciences and healthcare services companies worldwide, today announced the closing of a $122 million senior credit facility to Tarrytown Expocare (“Tarrytown or “the Company”), a closed-door long-term care pharmacy specializing in serving individuals with intellectual and developmental disabilities (“IDD”).
  • SSG Advises Green’s Natural Foods, Inc. in its Sale to Hudson Equity Partners, LLC
    January 18, 2021
    SSG Capital Advisors, LLC (“SSG”) acted as the investment banker to Green’s Natural Foods, Inc. (“Green’s” or the “Company”) in the sale of its equity interests to Hudson Equity Partners, LLC. (“Hudson” or the “Buyer”). The transaction closed in December 2020. Green’s is a branded lifestyle chain of organic and natural grocery stores in Westchester County, New York. Through its four unique supermarkets, the Company caters to the public’s growing interest in eating and living healthier.
  • TD Bank Group to Acquire Wells Fargo's Canadian Direct Equipment Finance Business
    January 18, 2021
    The Toronto-Dominion Bank ("TD") (TSX andNYSE: TD) and Wells Fargo & Company ("Wells Fargo") (NYSE: WFC) today announced a definitive agreement, subject to certain closing conditions, for TD to acquire Wells Fargo's Canadian Direct Equipment Finance business. The acquisition of Wells Fargo's Canadian Direct Equipment Finance business is expected to add scale and capabilities to TD's existing Canadian Equipment Financing business and expand TD's presence in core markets.
  • Great Rock Capital Closes $15 Million Credit Facility with Coast to Coast Equipment
    January 15, 2021
    Great Rock Capital, an asset-focused commercial finance company specializing in middle market lending, today announced the close of a $15 million senior secured credit facility with Coast to Coast Equipment, which specializes in buying, selling, and renting new and used aerial-lift equipment. The new facility refinanced the existing lender and provides Coast to Coast with additional liquidity to position the company for continued growth.
  • Angelo Gordon's Twin Brook Capital Partners Commits Over $925 Million to Private Equity-Backed Healthcare Transactions in 2020
    January 14, 2021
    Twin Brook Capital Partners (“Twin Brook” or the “Firm”), the middle market direct lending subsidiary of Angelo Gordon, today announced that it committed over $925 million to private equity sponsors in support of healthcare transactions last year, completing 26 healthcare transactions across 10 subsectors. The Firm served as lead agent on all the healthcare transactions it supported in 2020, which included 11 new platform financings and 15 add-on financings.
  • Blackford Capital Announces Investment in Aqua-Leisure Industries
    January 14, 2021
    Blackford Capital, a private equity firm based in Grand Rapids, Michigan, today announced an investment in Aqua-Leisure Industries, a leader and pioneer in water sport leisure product development and aquatic goods. Headquartered just outside of Boston, Aqua-Leisure was founded in 1970 and primarily serves the aquatic consumer products industry. The company is one of the largest and most innovative designers and distributors of multiple lines of high quality, performance-based products under a variety of brand names and proprietary designs, including swim goggles, "Learn to Swim" products for children, and pool floats, among other categories.
  • Oxford Finance Leads $107 Million Upsize Financing for Specialty Dental Brands
    January 14, 2021
    Oxford Finance LLC (“Oxford”), a specialty finance firm that provides senior debt to healthcare services and life sciences companies worldwide, today announced the closing of a $107 million senior credit facility to Specialty Dental Brands (“SDB” or “the Company”) a dental services organization focused on pediatric dentistry, orthodontics, and oral surgery.
  • Greystone Adds Michael Zampetti to Commercial Finance Team
    January 14, 2021
    Greystone, a leading national commercial real estate finance company, announced that Michael Zampetti, Jr., Managing Director, has joined the Commercial finance team led by Scott Chisholm, based in New York. In this role, Mr. Zampetti will focus on loan production across an array of platforms while working to expand the firm’s lending activities to a broader scope of commercial asset classes.
  • Going-Out-of-Business Sales Begin at All 25 Stock+Field Stores in Midwest
    January 14, 2021
    Going-out-of-business sales are underway at all 25 Stock+Field stores across the Midwest—an opportunity for enthusiasts of the rural lifestyle to find bargains on thousands of premier items in categories such as farm supplies, outdoor power equipment, lawn and garden, hardware/tools, home, sporting goods, and apparel/footwear. A joint venture of Tiger Capital Group and B. Riley Retail Solutions (a B. Riley Financial company) is conducting the liquidation sales in Illinois, Indiana, Ohio, Michigan and Wisconsin on behalf of Tea Olive I, LLC (d/b/a Stock+Field). Founded in 1964 as BigR stores, Stock+Field filed for Chapter 11 bankruptcy protection on January 10, 2021 in the U.S. Bankruptcy Court for the District of Minnesota.
  • Store Closing Sales Begin at All Christopher & Banks Stores Nationwide
    January 14, 2021
    Christopher & Banks, on January 13, 2021, filed for Chapter 11 reorganization and authorized store closing sales to be conducted by Hilco Merchant Resources. The store closing process has begun at more than 400 stores nationally. Since 1956, Christopher & Banks has been providing customers with style, value and service that help her look fabulous and feel amazing, every day and for life’s special moments and still focuses on putting “her” first.
  • LQD Business Finance Promotes Jack Zeng to Chief Technology Officer
    January 14, 2021
    LQD Business Finance, a Chicago-based commercial lender, announced the promotion of Jack Zeng to Chief Technology Officer. In his new capacity, Zeng will be leading all efforts behind the company’s automation and technology solutions to continue expanding the capacity of its proprietary lending systems. As LQD Business Finance continues to compete in the private debt market, Zeng’s leadership will be instrumental in broadening the company’s portfolio, with a focus on further streamlining and innovating methods of business development and operations.
  • Harney Partners Promotes Erik White to Managing Director
    January 14, 2021
    Harney Partners, a national, corporate turnaround and restructuring advisory firm, is pleased to announce the promotion of Erik White to Managing Director. In this expanded leadership role, White will continue to focus on providing financial and operational advisory services to companies in transition and distressed situations, while driving firm growth strategies and client delivery enhancement.
  • CIT Leads $69 Million Financing for Solar Portfolio
    January 14, 2021
    CIT Group Inc. (NYSE: CIT) today announced that its Power and Energy business led a $69 million financing for a portfolio of solar facilities owned and operated by Strata Solar LLC, a leading integrated solar and storage energy service provider based in North Carolina. The 23 operating solar assets in the portfolio, a majority of which are located in North Carolina, have a combined capacity of more than 130 megawatts. Output from the solar assets is covered by purchase agreements that ensure a steady demand for the renewable power they generate.
  • Siena Healthcare Finance Hires Western Region Business Development Officer
    January 13, 2021
    Siena Healthcare Finance is pleased to announce the addition of Nicholas “Niko” Tsitsos to our team. In the capacity of Director of Business Development, Niko will be covering the Western Region of the U.S. and is located in San Francisco, California. Prior to joining the team, Niko served as Vice President Healthcare Finance Loan Originations at Wells Fargo. Niko has also held positions at Wellington Management Company and John Hancock Financial Services prior to Wells Fargo.
  • Briar Capital Real Estate Fund Announces a New $6MM Real Estate Loan to a Metal Fabrication and Machine Shop
    January 13, 2021
    Briar Capital Real Estate Fund ("BCREF") (www.BriarCapital.com) is pleased to announce a new $6MM real estate loan to a metal fabrication and machine shop in Texas. The loan facility consists of a $5MM Term Loan and a $1MM Revolving Line of Credit, both secured by the company's real estate. Using only the real estate as collateral, the BCREF facility freed up the company's remaining assets, allowing them to be leveraged by another lender.
  • First Business Entities Align as First Business Bank
    January 13, 2021
    First Business Financial Services, Inc. (Nasdaq: FBIZ), parent company of First Business Bank, today announces that all First Business entities align as First Business Bank. This alignment is accompanied by a refreshed logo and a new .BANK website and email addresses. Only verified members of the global banking community can register .BANK website and email domain names, which enhances security for clients.
  • Reopening the Middle Market: Part Two of an RSM Special Report
    January 13, 2021
    As the pandemic passed the sixth-month mark in the United States, middle market companies were adapting to continued economic disruption by leveraging technology in new ways for both employees and customers and implementing or considering permanent remote work in some cases, proprietary research from RSM US LLP found.
  • Sterling National Bank Provides $2,000,000 Secured Credit Facilities
    January 13, 2021
    Sterling National Bank's Commercial Services Group provided senior secured credit facilities totaling $2,000,000 to Super Retro, LLC. The credit facilities will be used to provide working capital for the company’s anticipated future growth. Established in 2019 in the State of Delaware, Super Retro is an importer of men’s casual apparel and loungewear.
  • TAB Bank Provides Distribution Company in New York with a $15 Million Revolving Credit Facility
    January 13, 2021
    TAB Bank is pleased to announce it has provided a $15 million revolving credit facility for a distribution company headquartered in New York. The new facility is extended through a multi-year agreement and will provide for the company’s ongoing working capital needs. The company is an importer and wholesale distributor of kitchen products. Their product lines include kitchen gadgets, tools, dinnerware, flatware, bakeware, and other related items.
  • Monticello Arranges $467M Financing Package for Skilled Nursing Portfolio Acquisition in Southeast
    January 13, 2021
    The financing package from Monticello included $368 million in first-lien debt and $99 million in mezzanine debt. Combined with other financing, the total loan amount for the acquisition was $507 million.
  • Shipley Do-Nuts Receives Loan as Part of Peak Rock Buyout
    January 13, 2021
    Shipley Do-Nuts received a senior credit facility backing an acquisition of the company by an affiliate of Peak Rock Capital. NXT Capital is sole lead arranger and administrative agent, market sources said today.
  • Monroe Capital Supports Altamont Capital Partners’ Acquisition of Specialized Packaging Group
    January 13, 2021
    Monroe Capital LLC (“Monroe”) today announced it acted as administrative agent and joint lead arranger on the funding of a senior credit facility to support the acquisition of Specialized Packaging Group (“SPG”) by private equity sponsor Altamont Capital Partners.
  • FTI Consulting Enhances Senior Lender Offering in Houston with the Appointment of Dave Katz as Senior Managing Director
    January 12, 2021
    FTI Consulting, Inc. (NYSE: FCN) today announced the appointment of Dave Katz as a Senior Managing Director in the firm’s Corporate Finance & Restructuring segment, further enhancing the firm’s Senior Lender Advisory practice. Mr. Katz, who will be based in Houston, brings over 20 years of experience having negotiated, structured and managed numerous ground-breaking, complex restructurings, transactions and amendments. His appointment comes as lenders realign their focus on energy and renewables and companies reassess how to best position themselves in ever more challenging markets.
  • Fifth Third Business Capital Arranges Working Capital Line of Credit for Polder Products, LLC to Support Acquisition Growth
    January 12, 2021
    Fifth Third Business Capital announced it arranged a $10 million working capital line of credit for Polder Products, LLC, a leading designer and distributor of a variety of houseware products based in Oxford, CT.
  • Curaleaf Completes New $50 Million Revolving Credit Facility
    January 12, 2021
    Curaleaf Holdings, Inc., a leading U.S. provider of consumer products in cannabis, today announced the Company has successfully completed a new $50 million, three-year secured revolving credit facility. Seaport Global Securities LLC acted as the sole placement agent for the credit facility.
  • Loves Furniture & Mattresses Files for Chapter 11 Bankruptcy Protection
    January 12, 2021
    Loves Furniture & Mattresses, owned by Dallas-based private equity firm U.S. Assets Inc., filed for Chapter 11 bankruptcy protection this week amid struggles brought on by the COVID-19 pandemic. The bankruptcy filing estimates the company’s number of creditors to be between 100 and 199, and its assets and liabilities to each be between $10 million and $50 million. Butzel Long PC is representing the company as counsel in connection with all duties under the Bankruptcy Code and B. Riley Advisory Services is acting as financial advisor in connection with the company’s Chapter 11 case.
  • Citizens Advises Lacerta Group on its Recapitalization by SK Capital
    January 12, 2021
    Citizens M&A Advisory announced today that it served as exclusive financial advisor to Lacerta Group on its recapitalization by SK Capital. Privately held since it was founded in 1993, Lacerta is a leading provider of innovative packaging solutions primarily serving the food end market. The company offers a comprehensive range of custom PET packaging products including a leading line of tamper-evident products sold under the “Fresh N’ Sealed” brand. The vast majority of Lacerta’s products are 100% recyclable, and the packaging solutions produced by the company can be made with up to 100% recycled content.
  • SG Credit Partners Provides $2.2 Million SaaS Loan
    January 12, 2021
    SG Credit Partners provided a $2.2 million SaaS loan for a digital signage SaaS platform enabling SMB & enterprise customers to easily create and manage content in real time on any number of displays, anywhere in the world.
  • Runway Growth Capital Announces a Senior Secured Term Loan of $50 Million to VERO Biotech
    January 12, 2021
    Runway Growth Capital LLC ("Runway"), a leading provider of growth loans to both venture and non-venture backed companies seeking an alternative to raising equity, today announced the close of a senior secured term loan of $50 million to VERO Biotech LLC, an Atlanta, Georgia-based biotechnology company focused on saving lives, alleviating suffering, and improving the health economics of care.
  • Better Choice Secures New $12.0 Million Credit Facility at LIBOR Plus 250 Basis Point Interest Rate
    January 12, 2021
    Better Choice Company, an animal health and wellness company is proud to announce it has secured a new $12.0 million long-term credit facility at LIBOR plus 250 basis point interest rate with Wintrust Financial Corporation (‘Wintrust’), a leading commercial bank headquartered in Chicago, Illinois. Under the terms of this new agreement, Better Choice will simultaneously refinance all existing indebtedness with Citizens Bank and Bridging Finance, which currently totals approximately $13.3 million.
  • Horizon Technology Finance Management Expands Origination and Investment Team
    January 12, 2021
    Horizon Technology Finance Management LLC ("Horizon"), a registered investment advisor that underwrites and manages secured loans made to companies in the technology, life science, healthcare information and services, and sustainability industries, and the manager and advisor for Horizon Technology Finance Corporation (NASDAQ: HRZN), announced today that it has added five finance professionals to its origination and investment team.
  • DocuSign Bolsters Balance Sheet with Revolving Credit Facility
    January 12, 2021
    DocuSign, Inc. (Nasdaq: DOCU) today announced the closing of a new $500 million, five-year senior secured revolving credit facility. The facility will be undrawn at closing and carries an accordion feature allowing for an additional $250 million of capacity, subject to customary terms and conditions.
  • Ares Management Corporation and Aviation Industry Veterans Announce Launch of Vmo Aircraft Leasing
    January 12, 2021
    Ares Management Corporation (NYSE: ARES) and aviation industry veterans, including Bob Brown, Sean Sullivan and Will Hudson, announced today the launch of Vmo Aircraft Leasing L.P. (“Vmo”), a newly-formed company to acquire and lease commercial aircraft. Funds managed by Ares’ Private Equity Group and Vmo management have committed approximately $500 million in initial equity capital to support Vmo, which will target a global and diversified portfolio of modern, next-generation and efficient commercial aircraft.
  • Middle Market Companies Will Pivot to New Potential in 2021– BDO Survey
    January 12, 2021
    Middle-market companies took advantage of newfound clarity in crisis and are poised not just for a return but a renaissance. According to the 2021 BDO Middle Market CFO Outlook Survey, CFOs anticipate the new year will bring recovery and new opportunities. A majority forecast economic recovery (60%) and revenue increases (56%) in 2021. While financial forecasts vary, industries like technology, life sciences and healthcare that helped to power business continuity and advance COVID-19 care are particularly optimistic for growth in 2021.
  • Sterling Bancorp Announces Senior Management Changes; Luis Massiani to Transition to COO, Bea Ordonez to Join as CFO
    January 11, 2021
    Sterling Bancorp (NYSE: STL) (the “Company”), parent company of Sterling National Bank (the “Bank”), announced today that Luis Massiani will transition to the role of Chief Operating Officer of the Company and continue his position as President of the Bank. Luis will maintain his duties as CFO of the Company and the Bank through February 28, 2021, at which time he will fully transition to COO of the Company. In connection with Luis’ transition, Bea Ordonez has joined the organization as Executive Vice President and will assume the role of CFO of both the Company and the Bank effective as of March 1, 2021.
  • Abacus Finance, at its 10th Anniversary, Promotes Lee, Wise and Rendell
    January 11, 2021
    Now celebrating its tenth anniversary, Abacus Finance Group, LLC, a leading provider of cash flow-based, classic senior debt for sponsor-led buyouts of companies with $3 million to $15 million in EBITDA, today announced three promotions that are effective immediately: Joseph Lee – from Senior Associate to Vice President Jacob Wise –from Analyst to Associate, and Austin Rendell – from Analyst to Associate
  • Christopher & Banks Inches Closer to the Brink as it Defaults on Multiple Obligations
    January 11, 2021
    Christopher & Banks disclosed on Thursday a cascade of defaults earlier this month on financial obligations, including key loans and the lease on its headquarters, according to a securities filing. Specifically, the distressed apparel seller said it has received notices of default on a term loan, secured vendor program, credit facility and the lease on its corporate headquarters. The company said it is working with advisers to evaluate the default notices and negotiating with lenders to resolve its outstanding obligations.
  • EasyJet Signs New Five-year Term Loan Facility
    January 11, 2021
    UK airline EasyJet announced a new five-year term loan facility of $1.87 billion (c.£1.4 billion) on Friday, which will be secured on aircraft upon drawing. “This facility will significantly extend and improve EasyJet’s debt maturity profile and increase the level of liquidity available,” CEO Johan Lundgren said in a statement. The facility is underwritten by a syndicate of banks and supported by a partial guarantee from UK Export Finance under their Export Development Guarantee scheme, the airline said.
  • Crestmark Provides More Than $79 Million in Commercial Financing to 87 Businesses in the Second Half of December
    January 11, 2021
    Crestmark secured a total of $9,700,000 in ABL financial solutions for four new clients; Crestmark Equipment Finance provided $25,440,689 in ten new lease transactions; Crestmark Vendor Finance provided $5,792,233 in 65 new lease transactions; and the Government Guaranteed Lending group provided $38,165,000 in financing for eight new clients in the second half of December.
  • Edgewater Capital Partners Acquires Naprotek, Inc.
    January 11, 2021
    Naprotek, Inc. (“Naprotek” or the “Company”) has secured financing from TCF National Bank (“TCF”) and Patriot Capital, LP (“Patriot”) in connection with its acquisition by Edgewater Capital Partners (“Edgewater”). FocalPoint Partners, LLC (“FocalPoint”) served as financial advisor to Edgewater, providing exclusive buyside and debt advisory service in the process.
  • Affimed Announces €25 Million Debt Financing Agreement with Silicon Valley Bank
    January 11, 2021
    Affimed N.V. (Nasdaq: AFMD), a clinical-stage immuno-oncology company committed to giving patients back their innate ability to fight cancer, today announced that it has entered into a debt financing agreement with Silicon Valley Bank German Branch (SVB) which provides Affimed with up to €25 million in term loans.
  • Porter Capital Announces Additional Funding Products for Businesses with PPP Loans
    January 11, 2021
    Porter Capital, a leading provider of accounts receivable financing and asset-based lending solutions for businesses nationwide, has announced it will provide additional funding to businesses in need of more than their current PPP loan offers.
  • DFG Investment Advisers Becomes Vibrant Capital Partners
    January 11, 2021
    DFG Investment Advisers, Inc., a leading alternative credit investment manager, today announced that it has changed its name to Vibrant Capital Partners, Inc. The new name unifies the firm with its CLO business and several of its investment vehicles, which have operated under the Vibrant brand since 2012. In connection with the renaming, the firm has launched a new website, www.vibrantcapitalpartners.com.
  • Dwight Funding Expands Business Development Team
    January 11, 2021
    Dwight Funding is pleased to announce that Duy Nguyen has joined the firm as Director of Business Development. In this position, Duy will be responsible for maintaining and strengthening relationships with bank partners, other finance companies, referral sources and clients directly.
  • Main Street Announces New Portfolio Investment Invests $51.7 Million in Bolder Panther Group, LLC
    January 11, 2021
    Main Street Capital Corporation (NYSE: MAIN) ("Main Street") is pleased to announce that it recently completed a new portfolio investment to facilitate the minority recapitalization of Bolder Panther Group, LLC (the "Company" or "Smoker Friendly"), one of the largest retailers of tobacco products in the United States. Main Street partnered with the Company's senior management team and other existing shareholders to facilitate the transaction, with Main Street funding $51.7 million in a combination of first-lien, senior secured term debt and a direct preferred equity investment.
  • Moritt Hock & Hamroff Announces 2021 Attorney Promotions
    January 11, 2021
    Moritt Hock & Hamroff has announced that Jill T. Braunstein, formerly counsel of the firm, has been elevated to partner, that Brian P. Boland and Christine H. Price, formerly associates of the firm, have each been elevated to counsel, and that Stephen Breidenbach, formerly an associate of the firm, has been elevated to assistant general counsel-technology, effective January 1, 2021.
  • Clear Thinking Group Promotes Brian Allen to Partner
    January 11, 2021
    Clear Thinking Group LLC is pleased to announce the promotion of Brian Allen to Partner effective immediately. Mr. Allen has over 25 years of experience serving in senior finance positions with both public and private companies. As a consultant for the past thirteen years, Mr. Allen has been engaged by numerous companies in the consumer product, retail, and manufacturing industries to improve financial operations and performance through strategic and financial alternatives.
  • Coronavirus Drives Auto Bankruptcies Higher
    January 11, 2021
    Coronavirus-driven reduction in demand, and operational and supply chain disruptions, have resulted in a material uptick in bankruptcies and distress in the U.S. automotive industry, according to a new Fitch Ratings report.
  • eCapital Provides Over $10 Million in Increased Factoring Facilities to Support COVID-19 Efforts
    January 11, 2021
    eCapital Commercial Finance (“eCapital”), a division of eCapital Corp., a leading North American alternative financing solution provider for small and medium-sized businesses, today announced it delivered over $10 million in additional funding to clients with existing factoring facilities during the COVID-19 pandemic to help them meet demand for products and services. The company leveraged its factoring solutions to support businesses with a diverse range of operations from warehouse support to staffing for healthcare professionals to vaccine preparations.
  • Marathon Asset Management Closes $2.5 Billion Distressed Fund
    January 11, 2021
    Marathon Asset Management ("Marathon"), a leading global credit investment manager, today announced the final close for its Marathon Distressed Credit Fund, which was oversubscribed with approximately $2.5 billion in commitments. The fund will invest in a wide range of situations by providing capital solutions that allow companies to grow or reposition their businesses, including stressed and distressed companies in transition.
  • Scripps Completes Acquisition of ION Media from Black Diamond, Creating New National Networks Business
    January 11, 2021
    Methuselah Advisors and Morgan Stanley & Co. LLC acted as financial advisors to Scripps and arranged the preferred equity investment by Berkshire Hathaway. Morgan Stanley Senior Funding Inc. provided the financing commitments for the secured and unsecured debt. Ernst & Young Capital Advisors, LLC served as debt advisor.
  • AlixPartners Announces Managing Director Promotions
    January 11, 2021
    AlixPartners, the global consulting firm, announced today the promotion of 12 individuals to the role of Managing Director, effective January 1, 2021. Simon Freakley, Chief Executive Officer of AlixPartners, said, "These promotions recognize the inspiring leadership and contributions of our new Managing Directors. I am very pleased to congratulate each of these outstanding colleagues whose work for our clients to help their businesses succeed during these disruptive times is more critical than ever.”
  • Monroe Capital Supports Vivo Capital LLC’s Acquisition of Serán Bioscience, Inc.
    January 11, 2021
    Monroe Capital LLC (“Monroe”) today announced it acted as sole lead arranger and administrative agent on the funding of a senior credit facility to support the acquisition of Serán Bioscience, Inc. (“Serán”) by private equity sponsor Vivo Capital LLC.
  • FocalPoint Secures Financing for Edgewater Capital Partners
    January 11, 2021
    Naprotek, Inc. (“Naprotek” or the “Company”) has secured financing from TCF National Bank (“TCF”) and Patriot Capital, LP (“Patriot”) in connection with its acquisition by Edgewater Capital Partners (“Edgewater”). FocalPoint Partners, LLC (“FocalPoint”) served as financial advisor to Edgewater, providing exclusive buyside and debt advisory service in the process. Based in San Jose, CA, Naprotek is an electronics manufacturing services (“EMS”) company and a leading provider of quick turn printed circuit board assembly (“PCBA”) services for high-reliability (“Hi-Rel”) applications in the defense, space, medical, semiconductor, and specialty industrial markets.
  • TradeCap Partners Provides $1,200,000 Purchase Order Finance Facility for Pacific Northwest Household Products Importer
    January 8, 2021
    TradeCap Partners recently facilitated the closing of a $1,200,000 purchase order finance facility for an importer of household products based in Oregon. TradeCap was introduced by the Company’s financial advisor. Supply chain disruptions caused by the COVID-19 pandemic have left many retail stores with shortages of daily consumable household goods. One major retailer was in need of immediate supply of goods to fill shortfalls of product existing vendors were not delivering on time.
  • Versant Funding Provides a $4 Million Non-Recourse Factoring Facility to Manufacturer of Precision Airplane Parts
    January 7, 2021
    Versant Funding LLC is pleased to announce it has funded a $4 million non-recourse factoring facility to a manufacturer of precision airplane parts with commercial and military applications. The financial performance of this company was negatively impacted by the pandemic and the existing asset-based lender was putting pressure on the business to refinance the facility as soon as possible.
  • Sun Life Completes Majority Acquisition of Crescent Capital Group LP
    January 7, 2021
    Sun Life Financial Inc. ("Sun Life") (TSX: SLF) (NYSE: SLF) today announced the completion of its 51% majority stake acquisition of Crescent Capital Group LP ("Crescent"), a global alternative credit investment manager. Headquartered in Los Angeles with offices in New York, Boston and London, Crescent has more than 180 partners and employees. Crescent has approximately US$29 billion in Assets under Management (approximately C$39 billion), as of September 30, 2020.
  • Sheppard Mullin Strengthens Finance Practice With Addition of Stacey Rosenberg
    January 7, 2021
    Sheppard, Mullin, Richter & Hampton LLP is pleased to announce that Stacey L. Rosenberg has joined the firm’s Los Angeles office as a partner in the Finance & Bankruptcy practice group. Rosenberg was most recently a partner at Hogan Lovells. She is the 15th partner to join Sheppard Mullin in the last year.
  • Palladin Consumer Retail Partners Invests In Leapfrog Brands
    January 7, 2021
    Palladin Consumer Retail Partners, LLC ("Palladin" or "PCRP") (www.pcrp.com) announced today an investment in Leapfrog Brands, LLC ("Leapfrog" or the "Company") (www.leapfrogbrands.com) in partnership with the current owners and senior management team of Kurt Sward, CEO, Rick Ellison, President & COO, Jill Pearson, VP of Sales and Marketing, Glen Gilmore, Director of Design, Austen He, Director of Sourcing and Steve Pinelli, Director of Engineering. The partnership will provide Leapfrog with additional resources to build infrastructure to support its tremendous growth.
  • CBIZ CMF Announces Rebrand to CBIZ Private Equity Advisory
    January 7, 2021
    CBIZ CMF, the private equity consulting practice of CBIZ, Inc. and a leading national advisor to the middle market, today announces it will operate under the new brand name of CBIZ Private Equity Advisory. Having supported more than 300 private equity firms and over 1,500 portfolio companies across North America, CBIZ Private Equity Advisory offers a robust continuum of high-touch and highly specialized services for every stage of the investment lifecycle, from pre-acquisition through exit.
  • Portage Point Strengthens Retail & Consumer Expertise with Industry and Transformation Leader Glenn McMahon
    January 7, 2021
    Portage Point Partners, LLC (Portage Point), a business advisory and interim management firm that partners with stakeholders during periods of transition, underperformance and distress, announced today that Glenn McMahon has joined the firm as a Managing Director. Glenn has over three decades of experience leading all aspects of the consumer lifestyle value stream.
  • Silicon Valley Bank's 10th Annual Healthcare Report Highlights Banner Year in Venture Fundraising, Investing and Exits
    January 7, 2021
    Healthcare venture fundraising soared to $17 billion in 2020, a 57% increase over 2019's record, according to Silicon Valley Bank (SVB), the bank of the world's most innovative companies and their investors. Investment in venture-backed companies also rose to a new high of $51 billion. SVB's 10th annual Healthcare Investments and Exits Report, released today at SVB's Innovate Next virtual summit, analyzes and predicts trends for global venture capital fundraising, investing and exits that shape the biopharma, healthtech, diagnostics/tools (dx/tools) and medical device sectors.
  • Gemino Healthcare Finance Provides Financing for Substance use Disorder Treatment Provider
    January 7, 2021
    Gemino Healthcare Finance is pleased to announce it has provided a $5 million asset-based revolving line of credit to a provider of substance use disorder treatment in December 2020.
  • Sallyport Commercial Finance Provides $4 Million Accounts Receivable Financing Facility to Metal Components Company
    January 7, 2021
    Sallyport Commercial Finance provided a $4mm accounts receivable financing facility to a sponsor-backed metal components company. Our client had their supply-chain deeply affected by COVID-19 and as a result, needed a financing partner to help with their working capital gap caused by delays in shipments out of India and China.
  • Manufacturing Company in New York Chooses TAB Bank for a $1.8 Million Revolving Credit Facility
    January 7, 2021
    A manufacturing company in New York has chosen TAB Bank for a $1.8 million asset-based revolving credit facility. The new facility is extended through a multi-year agreement and will provide the means to fund growth for the company. The company is a manufacturer of woven textile and plastic parts for the automotive, aerospace, office equipment, transportation, and heavy industrial industries.
  • Antero Resources Announces Convertible Debt Refinancing Transaction
    January 7, 2021
    Antero Resources Corporation (NYSE: AR) ("Antero Resources") announced today the pricing of a registered direct offering of 31.4 million shares of its common stock at a price of $6.35 per share to certain holders of its 4.25% Convertible Senior Notes due 2026. Antero Resources plans to use the proceeds from the share offering and approximately $63 million of borrowings under its revolving credit facility to repurchase from such holders $150 million aggregate principal amount of its Convertible Notes in privately negotiated transactions.
  • NextWave HoldCo LLC Announces $200 Million Debt Financing
    January 7, 2021
    NextWave HoldCo LLC, (“NextWave”), an independent holder of 2.5 GHz wireless spectrum in major U.S. metro markets, today announced the signing of a new $200 million Senior Secured First Lien Term Loan Facility (the "Term Loan") provided by Canyon Partners, LLC. NextWave is a portfolio company of Solus Alternative Asset Management and Avenue Capital Group.
  • Tradewind Finance Delivers $5 Million Credit Facility for Meat Trading Company based in USA with Subsidiary in Brazil
    January 7, 2021
    Tradewind Finance has completed a $5 million export factoring facility for a meat trading company that is based in the United States and has a subsidiary in Brazil. The company exports to the Middle East, South Africa, and Asia and is using the funding to support their growth. The company needed additional credit lines to expand their business but encountered difficulty securing them.
  • SFNet CEO Discusses Plans for New Year
    January 7, 2021
    As we come off a year which, in response to the pandemic, was the most interactive with our members in SFNet’s history, and notwithstanding the tumult we have experienced including yesterday’s deeply disturbing events in Washington DC, we are more determined than ever to fulfill our mission of putting capital to work and eager to share our plans to do so in 2021. In consideration of the environment, we continue to shift toward a more accessible and inclusive engagement model; one that offers more frequent and on-demand opportunities for relationship building, accessing information, professional development and expressing our voice in legislative and regulatory matters than ever before.
  • Protos Security and Southfield Capital Announce the Strategic Acquisition of Mulligan Security
    January 6, 2021
    Monroe Capital LLC and Wells Fargo Bank provided debt financing. Troutman Pepper Hamilton Sanders LLP provided legal counsel to Southfield Capital and Protos. Stifel acted as Mulligan's financial advisor. Milbank, LLP provided legal counsel to Mulligan.
  • SG Credit Announces Promotions
    January 6, 2021
    SG Credit Partners continues its growth as a leading credit fund by promoting high performing team members from within. Spencer Brown and Oren Moses have each been promoted to Managing Director, Carlos Tan has been promoted to Principal and Daniel Looker and Gerardo Mora have been promoted to the role of Associate. Both Spencer and Oren joined SG Credit Partners as founding team members and today’s announcement formally recognizes their years of hard work. Spencer moved to Denver to open an office and run a critical region.
  • Tetra Capital Was Named One of the Best Trucking Factoring Companies For the Third Time by FactoringClub
    January 6, 2021
    Tetra Capital, a Utah-based finance company providing factoring services for trucking companies, has been named one of the best trucking factoring companies by FactoringClub, for the third time. Over 100 factoring companies were evaluated for the awards, and winners were selected based on contract terms, integrity, quality of service, and proven track record.
  • Cornerstone Business Credit Announces $100,000 Line of Credit
    January 6, 2021
    Traditional bank financing was not an option due to the start-up nature of this business but that didn’t make a line of credit any less necessary. Vendors had to be paid to keep product flowing to the growing customer base. Cornerstone quickly approved and closed an expandable line of credit to provide the necessary working capital.
  • Texas Capital Bank Provides Revolving Line of Credit for Pacific Coast Capital
    January 6, 2021
    Texas Capital Bank announced today that it has provided a Revolving Line of Credit for Irvine, CA-based Pacific Coast Capital, LLC. Pacific Coast Capital (“PCC”), is a non-regulated specialty finance lending firm that provides asset-based lending solutions to lower and middle-market businesses across all industries. The funds will be used to support future growth.
  • WSFS Bank Continues to Expand Commercial Banking Team in Philadelphia with Addition of Three Experienced Relationship Managers
    January 6, 2021
    WSFS Bank, the primary subsidiary of WSFS Financial Corporation (Nasdaq: WSFS), today announced the further expansion of its Commercial Banking team in the Greater Philadelphia region with the addition of three Commercial Lending Relationship Managers. Kimberly Godshall, Duane Lacsamana and Scott Woll, Jr. join the WSFS team, reporting to Patrick Fisher, Senior Vice President, Philadelphia Team Lead – Commercial Banking.
  • U.S. Bankruptcy Filings hit 35-year low Thanks to Government Pandemic Aid
    January 6, 2021
    U.S. bankruptcy filings for 2020 hit their lowest level since 1986 as a flood of government support programs offset at least temporarily the full brunt of the coronavirus pandemic and a related recession, Epiq AACER reported on Friday. The firm’s compilation of bankruptcy cases showed the Chapter 11 filings used to reorganize larger businesses still jumped 29% in 2020 to 7,128, compared to 5,158 in 2019, a tally that included major retailers like J.C. Penney driven under by the biggest economic downturn in a century.
  • 2021 NBFI Outlooks Highlight An Uncertain Economic Recovery
    January 6, 2021
    Fitch Ratings-New York/London-05 January 2021: Rating Outlooks have turned Negative for many non-bank financial institution (NBFI) sub-sectors compared to the start of 2020, reflecting negative pressures from the operating environment on asset quality, earnings and support-driven ratings, says Fitch Ratings in its "2021 Outlook: Global Non-Bank Financial Institutions Compendium".
  • AssetMark Closes $250 Million Revolving Credit Facility, Retires Existing Term Loan
    January 6, 2021
    AssetMark Financial Holdings, Inc. (NYSE: AMK) announced today that it has entered into a new Credit Agreement with six banks, including Bank of Montreal serving as administrative agent. The Credit Agreement provides for a $250 million secured revolving Credit Facility.
  • John Mills Joins Jones Walker
    January 6, 2021
    Jones Walker LLP announced today that John Mills joined the firm as a partner in the Litigation Practice Group in the Atlanta office. John represents clients in a wide range of matters, with an emphasis on corporate workouts and restructuring. His legal practice focuses on business disputes, the sale and acquisition of distressed assets, corporate bankruptcy, and debtor and creditor rights litigation. He regularly advises secured and unsecured creditors, debtors, and other parties on issues such as corporate reorganization, debtor-in-possession financing, and the sale and acquisition of distressed assets.
  • Top Ten TSL Express Stories of 2020
    January 6, 2021
    As we look forward to the year ahead and continuing to provide our readers with content to help you see around corners and manage the ongoing uncertainty, we wanted to highlight the most-read articles from 2020.
  • Turnkey LED Lighting Systems and Controls Provider Orion Secures Expanded $25M Revolving Credit Facility with Bank of America, N.A.
    January 5, 2021
    Orion Energy Systems, Inc. (NASDAQ: OESX) (Orion Lighting), is a provider of LED lighting systems and turnkey project implementation, including installation and commissioning of fixtures, controls and IoT capabilities, ongoing system maintenance and program management. Orion today announced it entered into a new and expanded five-year $25.0 million revolving credit facility with Bank of America, N.A. effective December 29, 2020.
  • Tuesday Morning Successfully Completes Restructuring Process
    January 5, 2021
    Tuesday Morning and certain of its subsidiaries (collectively “Tuesday Morning” or the “Company”) today announced that it has successfully completed its financial and operational reorganization and emerged from Chapter 11. Tuesday Morning is supported by a $110 million asset-backed lending facility provided by J.P. Morgan, Wells Fargo, and Bank of America. The Company has further optimized its store footprint and is emerging with 490 of its best performing stores.
  • Geoffrey Hiscock to Join FrontWell Capital Partners as Senior Vice President, Originations
    January 5, 2021
    FrontWell Capital Partners (“FrontWell”), a private credit fund that provides transitionary senior debt financing to middle-market companies in the United States and Canada, today announced that Geoffrey Hiscock has been appointed Senior Vice President, Originations. Mr. Hiscock will join the firm on January 11, 2021 from Canadian asset-based lender Waygar Capital, where he served as Managing Director, Head of Originations. Mr. Hiscock, who brings more than 25 years of experience in origination, underwriting and portfolio management to FrontWell, will be based in the firm’s Toronto headquarters.
  • Revolution Capital Acquires Atlantic Gateway Inc.
    January 5, 2021
    Revolution Capital, the leading provider of factoring & cash-flow financing in Canada and the United States, has acquired Atlantic Gateway Inc., a boutique factoring firm specializing in transportation factoring. The consolidation is an important step towards standardizing customer service standards across the industry. The factoring services provided by Atlantic Gateway Inc. have been integral to the growth of numerous companies across North America who will now have access to industry-leading tools and resources.
  • Fifth Third Completes Acquisition of Hammond Hanlon Camp LLC
    January 5, 2021
    Founded in 2011, H2C is a premier strategic advisory and investment banking firm with an emphasis on healthcare organizations, including specialized expertise in the not-for-profit sector. Its core advisory services include mergers, acquisitions and divestitures, partnerships and strategic growth, capital markets and real estate investment banking. Alston & Bird LLP acted as legal advisor to Fifth Third. Houlihan Lokey acted as financial advisor and Winston & Strawn acted as legal advisor to H2C.
  • Landec Corporation Announces Comprehensive Refinancing of Credit Facilities
    January 5, 2021
    The new structure includes a five-year $170.0 million uni-tranche term loan agented by Goldman Sachs Specialty Lending Group, L.P. (“Goldman Sachs”) and split equally with Guggenheim Credit Services, LLC (“Guggenheim”) and a $75.0 million asset-based line of credit provided by BMO Harris Bank N.A. (“BMO”), a lender under the Company’s prior credit facilities, which matures in five years subject to a springing maturity date described herein.
  • Centerra Gold Announces New Corporate Credit Facility
    January 5, 2021
    Centerra Gold Inc. (“Centerra”) (TSX: CG) announced today it has entered into a new U.S.$400 million four-year revolving credit facility plus a U.S.$200 million accordion feature (the "Credit Facility"). The Credit Facility is led by The Bank of Nova Scotia, National Bank Financial Markets and HSBC Canada Bank and is supported by a syndicate of international financial institutions. The interest rate payable on any outstanding borrowings is LIBOR plus 2.25% to 3.25%. The Credit Facility replaced Centerra’s previous U.S.$500 million revolving credit facility.
  • Horizon Technology Finance and Silicon Valley Bank Provide $20 Million Venture Loan Facility for Canary Medical
    January 5, 2021
    Horizon Technology Finance Corporation (NASDAQ: HRZN) ("Horizon"), a leading specialty finance company that provides capital in the form of secured loans to venture capital backed companies in the technology, life science, healthcare information and services, and sustainability industries, along with lending partner, Silicon Valley Bank ("SVB"), a provider of financial solutions for growth-oriented companies, announced today that on December 31, 2020 they provided a $20 million venture loan facility to Canary Medical, Inc. ("Canary Medical"), a medical data company improving healthcare outcomes with its proprietary smart medical devices.
  • Armstrong Teasdale Opens in Delaware
    January 5, 2021
    Armstrong Teasdale proudly announces its intent to establish a physical presence in Wilmington, Delaware. This marks the firm’s seventh office opening in the past two and a half years. Armstrong Teasdale will initially welcome a team of four partners, with plans to expand in the market. Partners Shelley A. Kinsella, Jonathan M. Stemerman, Eric M. Sutty and Rafael X. Zahralddin join the firm, effective Jan. 4, 2021. In 2020, Armstrong Teasdale added more than 100 attorneys and staff professionals to its ranks across the country.
  • FTI Consulting Promotes 18 Professionals to Senior Managing Director in the Corporate Finance & Restructuring Segment
    January 5, 2021
    FTI Consulting, Inc. (NYSE: FCN) today announced the promotion of 18 professionals within the firm’s Corporate Finance & Restructuring segment to Senior Managing Director, effective Jan. 1, 2021. The promotions include Alexis Anaman, Jamie Belcher, Michael Bui, Jose Cepeda, Francesco Di Ianni, Ian Duncan, Andy Hall, Peter Heinz, Darin Miller, Riccardo Pacelli, Liz Park, Daniele Pe, Dave Phillips, Kevin Rea, Lisa Rickelton, Mukesh Shah, Vincent Stevens and Daniel Woodhouse.
  • Kristen Palmer Joins Black Olive Capital LLC as VP of Underwriting
    January 5, 2021
    Kristen brings over 10 years of industry knowledge and expertise to Black Olive. She has served as Operation Specialist, Lead Underwriter, and business development officer for several revered boutique lenders in the industry. Kristen has extensive experience in the inventory and purchase order finance space.
  • FinSoft, LLC Celebrates 25 Years
    January 5, 2021
    In the past 25 years we went from a startup to a proven company with products that span the underwriting and due diligence needs associated with auditing (AssetWriter), data gathering for Operations and Audit (AsseReader), time-series fraud reduction (AssetArchive) and our ongoing contributions to ABL-Help and training with www.ABLTrain.com.
  • Rosenthal Provides $950,000 Production Finance Facility for California-based Cosmetic and Beauty Company
    January 5, 2021
    Rosenthal & Rosenthal, Inc., the leading factoring, asset-based lending and purchase order financing firm in the U.S., today announced the completion of a recent $950,000 purchase order finance facility to support the production financing requirements of a California-based cosmetic and beauty products company. A seasoned entrepreneur who had successfully built and sold a beauty and wellness business was now at the helm of a new beauty brand incubator.
  • Great Rock Capital Provides $11.8 Million of Liquidity through Senior Secured Credit Facility
    January 5, 2021
    Great Rock Capital, an asset-focused commercial finance company specializing in middle market lending, today announced it has provided $11.8 million of capital through a senior secured credit facility to support one of North America’s leading providers of high-quality catalog solutions. The facility was used to finance an acquisition and will provide additional liquidity to support the Company’s future growth.
  • Inventories From Last 3 Facilities of Major Distributor of Disposable and Durable Medical Supplies to be Auctioned by Tiger Group on Jan. 12-14
    January 5, 2021
    Online wind-down event offers PPE and other items from American Medical Depot’s FL, NC & NY warehouses; material handling, warehouse and office assets also up for bid. Following private treaty bulk sales and successful auctions of assets from three of American Medical Depot’s (AMD) six facilities, Tiger Group will wrap up the wind-down of this major distributor of medical equipment and supplies with online auctions in mid-January for in excess of $16 million in inventories plus other assets from the company’s three remaining locations.
  • White Oak Healthcare MOB REIT Acquires 3 Class-A Medical Office Buildings in Southern Florida
    January 5, 2021
    White Oak Healthcare MOB REIT today announced it has acquired three Class-A medical office buildings in Southern Florida. The stabilized assets, Estero Medical Center, located in Estero, Florida and Oak Point I & II in Vero Beach, Florida, total 77,363 square feet and are 97.3% leased to a diverse group of physician practices. Oak Point I & II are located within a growing medical micro-market anchored by Cleveland Clinic Indian River Hospital, surgery centers, as well as post operation rehabilitation, skilled nursing and senior living facilities.
  • Match Factors Named a Top Factor Fourth Year Running
    January 5, 2021
    Match Factors, a leading provider of transportation factoring, has once again earned top honors from The FactoringClub, an industry group dedicated to guiding small businesses. For the fourth year in a row, Match Factors received the Best Freight Factor award from the FactoringClub, a leading online resource for finding factoring companies.
  • Fairstone Financial Holdings Inc. Acquired by Duo Bank of Canada
    January 5, 2021
    Duo Bank of Canada ("Duo Bank"), a Toronto-based financial services provider supported by Stephen Smith, Centerbridge Partners L.P. and Ontario Teachers' Pension Plan Board ("Ontario Teachers'"), announced today the completion of the acquisition of all outstanding shares of Fairstone Financial Holdings Inc. ("Fairstone" or the "Company"). Headquartered in Montreal, Fairstone is Canada's leading provider of responsible credit solutions for near-prime borrowers with over $3 billion in assets on a consolidated basis.
  • North Mill Equipment Finance, LLC Sets Multiple Records in 2020 as Originations Reach All-Time High
    January 4, 2021
    North Mill Equipment Finance LLC (“North Mill”), a leading independent commercial equipment lessor located in Norwalk, Connecticut, announced today that 2020 was the best twelve months in the company’s 60-year history as loan and lease originations reached an all-time high. Reporting upsurges in volume throughout 2020, the organization beat each of its prior high-water marks as new records were set for annual, quarterly, and monthly volume as December came to a close.
  • Greenbrook TMS Closes $30 Million Credit Facility With Oxford Finance LLC
    January 4, 2021
    Greenbrook TMS Inc. (TSX: GTMS) (“Greenbrook” or the “Company”), a leading provider of Transcranial Magnetic Stimulation (“TMS”) therapy in the United States, announced today that it and its subsidiaries have entered into a credit and security agreement for a US$30 million secured credit facility (the “Credit Facility”) with Oxford Finance LLC (“Oxford”). Bloom Burton Securities Inc. acted as the Company’s sole financial adviser in connection with the transaction.
  • Power Solutions International Announces Amendment to Credit Agreement
    January 4, 2021
    Power Solutions International, Inc. (“the Company”) (OTC Pink: PSIX), a leader in the design, engineering and manufacture of emission-certified engines and power systems, announced that it entered into a first amendment to its one-year senior secured revolving credit facility pursuant to that certain credit agreement dated March 27, 2020, between the Company and Standard Chartered Bank (“Standard Chartered”).
  • MidCap Business Credit Closes on a $6 Million Asset-Based Credit Facility
    January 4, 2021
    The opportunity was sourced out of MidCap’s headquarters in West Hartford, CT. Seth Cooper, Senior Vice President of MidCap Business Credit said, “We were able to structure a flexible credit facility for the sponsor and close quickly, which will assist them in helping the business achieve their financial objectives”.
  • MidFirst Business Credit Announces New Lending Relationship with Morcon, Inc.
    January 4, 2021
    MidFirst Business Credit (MFBC) announced it has provided $8.5 million in working capital and capital expenditure facilities to Morcon, Inc. (Morcon). Located in Eagle Bridge, NY, Morcon is a commercial paper tissue converting company with three primary product lines: tissue, towel and napkins. The funds were used to provide additional working capital and help facilitate further business expansion. The transaction was completed on December 22, 2020.
  • J D Factors Announces Factoring Facilities
    January 4, 2021
    J D Factors announced it had provided the following factoring facilities: $50,000 to a transportation company in Kentucky; $400,000 to a transportation company in Illinois; $50,000 to a transportation company in Texas and $250,000 to a transportation company in Georgia.
  • Encina Business Credit Provides $30 Million Revolving Credit Facility to E-Commerce Retailer
    January 4, 2021
    Encina Business Credit, LLC announced today that it has provided a $30 million senior secured revolving credit facility to an e-commerce retailer. The senior secured revolving line of credit, which is collateralized by accounts receivable, credit card receivables, and inventory, was used by the company’s private equity investor to finance its acquisition and ongoing working capital financing needs.
  • Siena Healthcare Finance Provides $15MM Working Capital Facility to California-Based SNF
    January 4, 2021
    Siena Healthcare Finance recently closed on a $15 million asset-based line of credit for a skilled nursing operator based in California. The line was used to refinance an existing credit facility and provide working capital to support ongoing operations.
  • Perella Weinberg Partners and FinTech IV Announce Execution of Definitive Business Combination Agreement
    January 4, 2021
    Perella Weinberg Partners (“PWP”), a leading global independent advisory firm, and FinTech Acquisition Corp. IV (NASDAQ: FTIV) (“FinTech IV”), a special purpose acquisition company, announced today that they have entered into a definitive business combination agreement. Upon closing of the transaction, the combined company (the “Company”) will operate as Perella Weinberg Partners and will be listed on NASDAQ under the new symbol “PWP.” The transaction reflects an implied equity value for the Company of approximately $975 million.
  • TAB Bank Provides $4 Million Senior Credit Facility to The Good Bean
    January 4, 2021
    TAB Bank is pleased to announce it has entered into a multi-year agreement with The Good Bean to provide a $4 million revolving credit facility. The facility was used to provide for the company’s ongoing working capital needs as it continues grow and expand the reach of its portfolio of healthy plant-based snacks, confections, and other innovations.
  • Horizon Technology Finance Provides $5 Million Venture Loan to Corinth MedTech
    January 4, 2021
    Horizon Technology Finance Corporation (NASDAQ: HRZN) ("Horizon"), a leading specialty finance company that provides capital in the form of secured loans to venture capital backed companies in the technology, life science, healthcare information and services, and sustainability industries, announced today it has provided a $5 million venture loan to Corinth MedTech, Inc. ("Corinth").
  • Wave Computing and MIPS Technologies Reach Agreement to Exit Bankruptcy
    January 4, 2021
    Company expects to exit bankruptcy in January 2021 pending creditor and court approval of Tallwood-led reorganization plan. A team from Sidley Austin LLP led by Sam Newman is serving as legal counsel to Wave, SierraConstellation Partners is serving as financial and restructuring adviser, and Armory Securities is serving as investment banker. Binder & Malter LLP is serving as legal counsel to Tallwood
  • J.F. Lehman & Company Acquires CTS Engines; Barings Finance and Siemens Financial Services Provide Debt Financing
    January 4, 2021
    Debt financing for the transaction was provided by Barings Finance and Siemens Financial Services. Jones Day served as lead legal counsel for J.F. Lehman & Company. Baker Hostetler provided Government Contracts, Defense Security and International Trade advice to J.F. Lehman & Company. William Blair served as lead financial advisor to CTS, and Lincoln International served as co-advisor. Bartlit Beck provided legal counsel to CTS and the selling equityholders.
  • Harvest Capital Credit to Merge Into Portman Ridge Finance
    January 4, 2021
    Harvest Capital Credit Corp. entered into a definitive agreement to merge with and into Portman Ridge Finance Corp., a business development company managed by Sierra Crest Investment Management LLC. The transaction was unanimously approved by Harvest Capital's special committee and board as well as Portman Ridge's board. The parties expect the merger to be completed by the second quarter of 2021.
  • BankProv Expands Small Business Lending Team with New Experienced Lenders
    January 4, 2021
    BankProv, an innovative, commercial bank that finds solutions for business and private clients, has grown its small business lending team with two new hires: Joel Gianninoto, Vice President, Commercial Lending, and Ryan Fox, Assistant Vice President, Commercial Lending. Joel Gianninoto joined BankProv in March 2020 with almost 10 years of banking experience, having previously held positions at Citizens Financial Group and Salem Five Bank.
  • NFI Group Announces Amendments to its Credit Facilities
    January 4, 2021
    NFI Group Inc. ("NFI" or the "Company") today announced it has amended the Revolver and the UK Facility (together, the "Facilities"), providing meaningful covenant relief and additional flexibility, and cancelled the $250 million Sidecar. The Bank of Nova Scotia is the Administrative Agent for the Revolver and The Bank of Nova Scotia, BMO Capital Markets, and National Bank Financial Inc. are the Joint Bookrunners. The Revolver syndicate also includes The Canadian Imperial Bank of Commerce; Bank of America, Canada Branch; Wells Fargo Bank, N.A., Canadian Branch; The Toronto Dominion Bank; HSBC Bank Canada; MUFG Bank Ltd., Canada Branch; Export Development Canada and ICICI Bank Canada.
  • Wolters Kluwer Enhances End-to-End User Experience for Latest PPP Funding Through TSoftPlus Software and eOriginal Platform
    January 4, 2021
    In anticipation of the recently announced U.S. fiscal stimulus package, which provides $284.5 billion in additional Paycheck Protection Program (PPP) stimulus funding, Wolters Kluwer’s Compliance Solutions business has further enhanced its award-winning Paycheck Protection Program Supported by TSoftPlus™ software to expedite Small Business Administration (SBA) loan applications. Thanks to its recently announced acquisition of eOriginal, Wolters Kluwer Compliance Solutions is also able to offer a digital loan platform that enables compliance with SBA Appendix 8 mandates for digital loans.
  • Chris Szopa Joins 36th Street Capital as Director of Capital Markets and In‐House Counsel
    January 4, 2021
    36th Street Capital Partners, LLC (“36th Street Capital”), an independent provider of equipment financing solutions, announced the appointment of Christopher Szopa as Director of Capital Markets and In-House Counsel.
  • Celtic Capital Corporation Announces New Client Relationship
    January 4, 2021
    Celtic Capital Corporation today announced its most recent new client relationship – a Colorado-based wood mill and veneer manufacturer. Referred by a bank from which we’ve taken out many clients, this deal came to Celtic Capital for financing to complete the build-out of its plant and to provide this year-and-a-half old company with working capital.
  • Ashford Hospitality Trust Secures Commitment For $200 Million Corporate Financing With Ability To Upsize To $350 Million
    January 4, 2021
    Ashford Hospitality Trust, Inc. (NYSE: AHT) ("Ashford Trust" or the "Company") today announced that the Company has secured a strategic financing commitment from funds managed by Oaktree Capital Management, L.P. ("Oaktree") to provide a $200 million senior secured term loan ("Loan"). In addition, the financing commitment can be upsized by $150 million to an aggregate amount of $350 million. RBC Capital Markets, LLC served as the Company's financial advisor on the transaction, and Weil, Gotshal & Manges LLP and Cadwalader, Wickersham & Taft LLP served as legal counsel.
  • Sunflower Bank’s Leveraged Finance Team Provides Senior Debt Financing to Modus
    January 4, 2021
    Sunflower Bank, N.A. is pleased to announce that its Leveraged Finance team served as joint lead srranger for a senior debt facility that was led by KeyBanc Capital Markets . The senior debt facility supported the acquisition of NextEdge Networks Holdings and its wholly-owned subsidiary, Modus (collectively “Modus”) by Bow River Capital. The transaction closed in August 2020.
  • Crestmark Provides More Than $83.9 Million in Commercial Financing to 93 Businesses in the First Half of December
    January 4, 2021
    Crestmark secured a total of $38,250,000 in ABL financial solutions for 12 new clients; Crestmark Equipment Finance provided $7,262,607 in six new lease transactions; Crestmark Vendor Finance provided $6,451,914 in 67 new lease transactions; the Joint Ventures Division provided $13,506,620 in four new transactions; and the Government Guaranteed Lending group provided $18,470,800 in financing for four new clients in the first half of December.
  • M.D.C. Holdings Announces Expanded Credit Facility
    January 4, 2021
    A total of ten lenders are participating in the facility with U.S. Bank National Association, as designated agent and co-administrative agent, Citibank, N.A., as co-administrative agent, and Truist Bank (formerly known as SunTrust Bank), Bank of the West and PNC Bank, National Association, as co-syndication agents. The other lenders are Regions Bank, JPMorgan Chase Bank, N.A., UMB Bank, N.A., Texas Capital Bank, National Association and Zions Bancorporation, N.A. (dba Vectra Bank of Colorado).
  • Monroe Capital Supports Dude Solutions, Inc.’s Add-on Acquisition of Confirm Solutions Limited
    January 4, 2021
    Monroe Capital LLC today announced it acted as administrative agent on the funding of a senior credit facility to support the acquisition of Confirm Solutions Limited (“Confirm”) by Dude Solutions, Inc. (“Dude Solutions”), an existing portfolio company of Clearlake Capital Group, L.P.
  • Oxygen Closes $17 Million Series A Funding Round to Build the Banking Platform for the 21st Century Economy
    January 4, 2021
    Digital banking platform Oxygen today announced a $17 million Series A round of funding. The round was led by Runa Capital, with participation from S7V, 1984.vc, EFG Hermes, Rucker Park, and Inventures, in addition to celebrity and prominent fintech investors, including Frank Strauss, Global CEO of the Private & Commercial Bank for Deutsche Bank AG, William Hockey, Co-Founder of Plaid, Ankur Nagpal, Peter Treadway, and NFL wide receiver Larry Fitzgerald.
  • Sallyport Commercial Finance Helps Canadian Industrial Safety Firm with a $500,000 Accounts Receivable Line of Credit
    January 4, 2021
    Sallyport Commercial Finance delivers a $500,000 accounts receivable facility to an industrial safety firm providing essential medical and rescue services to the oil and gas industry. The business owner was seeking a financing partner that would help him manage the newly awarded contract with his customers and provide assurances to cover payroll.
  • J D Factors Provides Factoring Facilities
    January 4, 2021
    J D Factors announced it has provided the following factoring facilities: $120,000 to a transportation company in Ohio; $100,000 to a transportation company in Alberta; $400,000 to a transportation company in Ontario; $120,000 to a transportation company in Texas
  • Huntington Business Credit Closes $24 Million Credit Facility with Elk Lighting. Inc.
    January 4, 2021
    Huntington Business Credit announced it closed new $24,000,000 credit facilities with Elk Lighting, Inc. on December 15, 2020. Proceeds of the facilities were used to refinance existing indebtedness and support ongoing working capital growth financing.
  • Big Shoulders Capital Funds a Third Generation Driller and Oilfield Services Provider
    December 23, 2020
    Big Shoulders Capital recently funded a third generation driller and oilfield services provider to continue operations after Covid-19 depressed the global energy market. Big Shoulders worked with the new ownership group to improve upon what past generations had built.
  • DXP Enterprises, Inc. Announces Closing of New Term Loan B
    December 23, 2020
    DXP Enterprises, Inc. (NASDAQ: DXPE) today announced that it has closed on a new $330 million Senior Secured Term Loan B (“TLB”). The TLB matures on December 23, 2027. DXP intends to use the proceeds to repay the existing Term Loan B, which will be terminated on that payment; and the remaining for general corporate purposes, potential acquisitions and transaction fees and expenses. The transaction provides DXP with operational and financial flexibility to reinvest in the business and pursue its strategy around organic and targeted acquisition growth.
  • Pacific Drilling Announces Confirmation of Prearranged Plan of Reorganization; Expected Emergence from Chapter 11 by Year-End
    December 23, 2020
    Pacific Drilling S.A. (OTC: PACDQ) announced today that the United States Bankruptcy Court for the Southern District of Texas confirmed the First Amended Joint Plan of Reorganization of Pacific Drilling S.A. and its Debtor Affiliates Pursuant to Chapter 11 of the Bankruptcy Code (the “Plan”) on December 21, 2020.
  • Tuesday Morning Announces Confirmation of Plan of Reorganization
    December 23, 2020
    Tuesday Morning and certain of its subsidiaries (collectively “Tuesday Morning” or the “Company”) today announced that the U.S. Bankruptcy Court for the Northern District of Texas has confirmed the Company’s Plan of Reorganization (the “Plan”). As a result, Tuesday Morning expects to successfully emerge from Chapter 11 protection by the end of December after it has satisfied the conditions to the effectiveness of the Plan.
  • Guitar Center Concludes Fast-track Reorganization, Eliminating Nearly $800 Million of Debt and Strengthening Its Balance Sheet
    December 23, 2020
    Guitar Center, Inc. (“Guitar Center”) today announced that it has emerged from bankruptcy following the successful consummation of its plan of reorganization (the “Plan”) under chapter 11 of the U.S. Bankruptcy Code. Milbank LLP served as legal counsel to Guitar Center. Houlihan Lokey served as Guitar Center’s financial advisor. BRG served as Guitar Center’s restructuring advisor.
  • Harvard Bioscience Announces New Credit Facility
    December 23, 2020
    The Refinancing was led by Citizens Bank, N.A., as the administrative agent, and Wells Fargo Bank, National Association and Silicon Valley Bank, as joint bookrunners, joint lead arrangers and syndication agents with Citizens. The Credit Agreement provides for a term loan of $40.0 million and a $25.0 million senior revolving credit facility.
  • Apollo Investment Corporation Amends and Extends Its Senior Secured Revolving Credit Facility
    December 23, 2020
    JPMorgan Chase Bank, N.A., Truist Securities, Inc., BMO Capital Markets Corp., and MUFG Union Bank, N.A. are Joint Bookrunners and Joint Lead Arrangers on the Facility. JPMorgan Chase Bank, N.A is the Administrative Agent on the Facility.
  • BridgePoint Financial Expands Senior Secured Credit Facility From $60 Million to $100 Million Based on Strong Performance and new Business Lines
    December 22, 2020
    BridgePoint Financial Services Inc., the general partner of BridgePoint Financial Services Limited Partnership I ("BridgePoint"), Canada's leading provider of specialized loans for the legal services market, is pleased to announce that BridgePoint's senior secured credit facility was recently increased to $100 million to support key growth initiatives for 2021.
  • Ryman Hospitality Properties, Inc. Successfully Extends Credit Facility Waiver Period
    December 22, 2020
    Ryman Hospitality Properties, Inc. (NYSE: RHP) (the “Company”) announced that today it completed a second amendment to the credit agreement governing its $700 million revolving credit facility, $300 million Term Loan A facility and its Term Loan B facility (of which approximately $382.5 million is outstanding), which was obtained from a consortium of banks led by Wells Fargo Bank, National Association, as administrative agent.
  • Utica Leaseco Agrees to Ubiquity Solar Acquiring the Rights to the Assets of Alta Devices
    December 22, 2020
    Ubiquity Solar Inc. (Ubiquity), a photovoltaic (PV) technology company, and Utica Leaseco, LLC (Utica), an asset-based specialty finance company, are pleased to announce the execution of a definitive agreement, whereby Ubiquity has procured from Utica rights to the intellectual property, R&D, production, inventory and other assets (the GaAs Assets) previously part of Alta Devices (Alta) of Sunnyvale, CA. As part of the parties’ transaction, Utica will acquire certain warrants to purchase capital stock of Ubiquity.
  • Specialist Risk Group to be Acquired by HGGC
    December 22, 2020
    Specialist Risk Group ("SRG"), a fast-growing specialist insurance broker, today announced that it has signed a definitive agreement to be acquired by leading middle-market private equity firm HGGC. SRG's management team will invest alongside HGGC and continue to hold a significant stake in the business. The private transaction is expected to close in Q1 2021, subject to regulatory approval. As part of the transaction, existing investor Pollen Street Capital will exit the business.
  • Gerald Group Closes Oversubscribed Revolving Credit Facility
    December 22, 2020
    Gerald Group ("Gerald"), the world's largest independent, employee-owned metals trading house is pleased to have successfully executed its eleventh annual Revolving Credit Facility ("RCF") for US$ 150 million. Gerald Group, supported by its relationship banks Credit Agricole, Credit Suisse, Deutsche Bank, DBS Bank, ING Bank, Rabobank, Banco do Brasil, Banque Cantonale Vaudoise, Erste and UniCredit arranged, documented and executed the RCF within record time of under 2 months.
  • Battle North Gold Signs Commitment Letter for a US$40 Million Credit Facility to Fully Fund the Development of the Bateman Gold Project
    December 22, 2020
    Battle North Gold Corporation (TSX: BNAU) (OTCQX: BNAUF) ("Battle North" or the "Company") is pleased to announce that it has executed a binding commitment letter (the "Commitment Letter") with Macquarie Bank Limited ("Macquarie") for a senior secured term loan facility of US$40 million ("Credit Facility") to be used to fund the construction of the 100%-owned, shovel-ready Bateman Gold Project (the "Project")[1] in Red Lake, Ontario, Canada. The proceeds of the Credit Facility, together with cash currently on the Company's balance sheet, is expected to fully fund the Project to Commercial Production.
  • 8minute Solar Energy Upsizes Letter of Credit Facility to $350 Million and Welcomes Three Leading Project Finance Banks
    December 22, 2020
    After securing a $225 million letter of credit and revolving credit facility earlier this year, 8minute Solar Energy (8minute) has significantly upsized that facility to a total of $350 million with support from new lenders. The additional $125 million in commitments comes from the existing lenders who are joined by Deutsche Bank, Landesbank Hessen-Thüringen (Helaba), and Norddeutsche Landesbank (NORD/LB). Latham & Watkins LLP represented 8minute and Norton Rose Fulbright LLP represented the lenders.
  • Pacific Mercantile Bank Expands Relationship with Simpson Sandblasting & Special Coatings, Inc.
    December 22, 2020
    Pacific Mercantile Bank (“the Bank”), the wholly owned subsidiary of Pacific Mercantile Bancorp (NASDAQ: PMBC), today announced that it has provided a $2.45 million credit facility to Simpson Sandblasting & Special Coatings, Inc. (“Simpson Sandblasting”), a company that first became a client of Pacific Mercantile through the Bank’s participation in the Small Business Administration (“SBA”) Paycheck Protection Program (“PPP”). The new credit facility will be utilized to refinance an existing owner-occupied commercial real estate loan, provide a revolving line of credit for working capital/bonding needs, and provide financing for equipment purchases.
  • SAExploration Successfully Completes Financial Restructuring
    December 22, 2020
    SAExploration Holdings, Inc. (“SAE” or the “Company”) announced today that it has successfully completed its financial restructuring and emerged from Chapter 11 as a private, non-SEC reporting company. As a result of its plan of reorganization, which received broad support from its creditors, the Company has reduced its debt by approximately $74 million, net, thus positioning the Company for future growth. Porter Hedges LLP acted as legal counsel and Imperial Capital, LLC and Winter Harbor LLC acted as financial advisors to SAE in connection with its restructuring efforts. Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal counsel to the ad hoc group of certain consenting creditors in connection with the Chapter 11 cases.
  • Matrix Advises Tri Gas & Oil On the Successful Acquisition of a Leading Refined Fuels Distributor and HVAC Services Business
    December 22, 2020
    Matrix Capital Markets Group, Inc. (“Matrix”), a leading independent investment bank, announces that Tri Gas & Oil Co., Inc. (“Tri Gas & Oil”) and Comfort Plus Services, LLC (“Comfort Plus Services” or “CPS”) or (collectively, the “Company”) has acquired a leading Delmarva Peninsula based refined fuels distributor and HVAC services business. Tri Gas & Oil, and its predecessor entities, have been delivering fuel and providing high levels of customer service throughout the Delmarva Peninsula since the late 1950’s.
  • Veteran Banker, Teresa A. Baker, Joins SouthCrest Bank as Senior Vice President, Relationship Manager
    December 22, 2020
    SouthCrest Bank, a division of SouthCrest Financial Group (SCSG: PK) announces the appointment of well-known and respected 15 year banking veteran Teresa Baker as Senior Vice President and Relationship Manager. Her appointment is another key step in SouthCrest Bank’s strategy to become a dominant private business bank for the Atlanta MSA.
  • PGIM Private Capital Raises $2.23B for Sixth Mezzanine Fund, PGIM Capital Partners VI, L.P.
    December 22, 2020
    PGIM Private Capital has completed fundraising for PGIM Capital Partners VI, L.P., surpassing its fundraising target with capital commitments of $2.23 billion. PGIM Capital Partners VI is more than 20% larger than Fund V, which closed in 2016. PGIM Private Capital is a leading source of private debt for public and private companies and is the private capital arm of PGIM, the $1.4 trillion global investment management businesses of Prudential Financial, Inc. (NYSE: PRU).
  • Monroe Capital Supports Mountaingate Capital’s Investment in Relevate Health Group Inc.
    December 22, 2020
    Monroe Capital LLC (“Monroe”) today announced it acted as sole lead arranger and administrative agent on the funding of a senior credit facility to support the investment in Relevate Health Group Inc. (“Relevate”) by private equity sponsor Mountaingate Capital and Relevate’s strategic combination with Arteric. Based in Cincinnati, Ohio, Relevate is a data-driven marketing products and services communications firm.
  • Bridge Bancorp, Inc. and Dime Community Bancshares, Inc. Announce Final Regulatory Approval of Merger of Equals
    December 22, 2020
    Bridge Bancorp, Inc. (Nasdaq: BDGE) (“Bridge”), the parent company of BNB Bank, and Dime Community Bancshares, Inc. (Nasdaq: DCOM) (“Dime”), the parent company of Dime Community Bank, today jointly announced that the parties have received approval from New York State Department of Financial Services to merge Dime Community Bank with and into BNB Bank. The merger is expected to close on February 1, 2021, on which day the combined company will open as the new Dime Community Bank.
  • Sterling National Bank Provides $2,500,000 Secured Credit Facilities
    December 22, 2020
    Sterling National Bank's Commercial Services Group provided senior secured credit facilities totaling $2,500,000 to a nationwide talent management company. Sterling National Bank is one of the leading providers of financing and administrative services for staffing and IT consulting firms nationwide.
  • CohnReznick Expands in Southwest Houston
    December 22, 2020
    CohnReznick LLP, one of the leading advisory, assurance, and tax firms in the United States, today announced a strategic addition to its national Restructuring and Dispute Resolution practice, extending its footprint in the Southwest and expanding its Houston office. Three professionals from Crossroads Strategic Advisors, a respected Houston-based advisory firm founded by Jeff Anapolsky to provide recapitalization and restructuring strategies to middle market companies, are joining CohnReznick.
  • JPMorgan Names James Roddy to Run Corporate Client Banking
    December 21, 2020
    JPMorgan Chase & Co. named James Roddy as global head of corporate client banking and specialized industries in its commercial banking unit. Roddy, previously co-head of diversified industries investment banking, will report to Doug Petno, chief executive officer of JPMorgan’s commercial bank. The commercial bank, JPMorgan’s smallest line of business by revenue, offers deal advice, treasury services and lending to companies that make up to about $2 billion in revenue. The change was announced in a memo to staff Wednesday and confirmed by a spokeswoman.
  • Rosenthal & Rosenthal, Inc. Provides $2.4 Million Purchase Order Finance Facility for Florida-based Government Contractor
    December 21, 2020
    Rosenthal & Rosenthal, Inc., the leading factoring, asset-based lending and purchase order financing firm in the U.S., today announced the completion of a recent purchase order finance facility to support the production financing requirements of a Florida-based minority-owned government contractor.
  • Rubenstein Partners Announces Pennant Park Refinancing
    December 21, 2020
    Rubenstein Partners, L.P., a vertically-integrated real estate investment adviser focused on value-added office opportunities (together with its affiliates, "Rubenstein"), has refinanced Pennant Park, a 6-building office park in Atlanta's Northwest submarket, with a $114 million loan facility provided by Nuveen Real Estate. This transaction comes after the substantial completion of Rubenstein's business plan for the property, which involved approximately $17 million of improvements aimed at transforming the property into a walkable Class-A urban office environment with immediate access to Truist Park, home of the Atlanta Braves, and a growing set of local amenities both on and off campus.
  • Bank of Southern California Hires William (“Bill”) Sloan and Sam Kunianski to Grow Southern California Presence
    December 21, 2020
    Bank of Southern California, N.A. (OTC Pink: BCAL), a community business bank headquartered in San Diego, announced today the addition of two tenured Commercial Banking executives to support the company’s strategic expansion efforts.
  • Team, Inc. Announces Refinancing Of New Capital Structure
    December 21, 2020
    Team, Inc. (NYSE: TISI) a global leading provider of integrated, digitally-enabled asset performance assurance and optimization solutions, today announced the signing of a new $250 million Senior Secured Term Loan due 2026 (the "Term Loan") led by Atlantic Park Strategic Capital Fund, L.P. ("Atlantic Park"). Atlantic Park acted as administrative agent. Concurrent with the signing of the Term Loan, TEAM executed a new $150 million Senior Secured ABL Credit Facility due 2024 (the "ABL Credit Facility") led by Citibank, N.A.
  • Victoria Gold Closes US$200 Million Credit Facility To Refinance Project Debt
    December 21, 2020
    Victoria Gold Corp. (TSX-VGCX) (“Victoria” or the “Company”) is pleased to announce that it has entered into a credit agreement with a syndicate of banks, comprised of Bank of Montreal, as Joint Bookrunner, Co-Lead Arranger and Administrative Agent, CIBC, as Joint Bookrunner and Co-Lead Arranger, and BNP Paribas, as Co-Lead Arranger in connection with a secured US$200 million debt facility (the “Loan Facility”). The Loan Facility is comprised of a US$100 million term loan (the “Term Facility”) and a US$100 million revolving facility (the “Revolving Credit Facility”).
  • Michelle Moore Named Digital Platform Leader at Wells Fargo
    December 21, 2020
    Wells Fargo & Company (NYSE: WFC) today announced that Michelle Moore will join the company as Digital Platform leader, effective Dec. 31, 2020. She will report to Ather Williams III, head of Strategy, Digital and Innovation, and will be based in Charlotte, North Carolina.
  • CPS Announces Renewal of $100 Million Credit Facility
    December 21, 2020
    Consumer Portfolio Services, Inc. (Nasdaq: CPSS) (“CPS” or the “Company”) today announced that on December 18, 2020 it renewed its two-year revolving credit agreement with Citibank, N.A. Loans under the renewed credit agreement will be secured by automobile receivables that CPS now holds, will originate directly, or will purchase from dealers in the future. CPS may borrow on a revolving basis through December 18, 2022, after which CPS will have the option to repay the outstanding loans in full or to allow them to amortize for a one-year period.
  • Rent-A-Center Enters Into Definitive Agreement to Acquire Acima to Create Leading Virtual Lease-to-Own Platform, Accelerate Long-Term Growth
    December 21, 2020
    Rent-A-Center has obtained $1.825 billion in debt financing commitments from J.P. Morgan Securities LLC, Credit Suisse and HSBC Securities (USA) Inc., in connection with the transaction, subject to the terms and conditions of the respective commitment letters. J.P. Morgan Securities LLC is serving as lead financial advisor; Credit Suisse is serving as an additional financial advisor and Sullivan & Cromwell LLP is serving as legal counsel to Rent-A-Center. FT Partners is serving as sole strategic and financial advisor and Wachtell, Lipton, Rosen & Katz is serving as legal counsel to Acima.
  • Fifth Third Business Capital Arranges New Revolving Credit Facility for HB&G Building Products, Inc.
    December 21, 2020
    Fifth Third Business Capital announced it has arranged a new revolving credit facility for HB&G Building Products, Inc. The Deal Team consisted of Ron Kerdasha, Senior Vice President, Business Development; Jeff Seiden, Senior Vice Presiden, Underwriting and Jeffrey Much, Vice President, Portfolio Management.
  • Huntington Business Credit Announces Credit Facility with The Miller Company
    December 21, 2020
    Huntington Business Credit announced it closed a new $15,000,000 credit facility with The Miller Company on December 15, 2020. Proceeds of the facility were used to support the acquisition by Deutsche Invest Capital Partners and to provide ongoing working capital growth financing.
  • J D Factors Announces Factoring Facilities
    December 21, 2020
    J D Factors announced it provided the following factoring facilities: $120,000 to a transportation company in Virginia; $300,000 to a transportation company in Alberta; $150,000 to a transportation company in Texas.
  • NXCR and Westlake Financial Announce $400 Million Debt Facility and Strategic Partnership to Advance NXCR's Vehicle Subscription Platform
    December 21, 2020
    NextCar Holding Company Inc. (NXCR), a fintech and insurtech vehicle subscription platform, and Westlake Financial (Westlake) have signed a letter of intent to secure a NXCR $400 million debt facility, and to enter into a strategic partnership. Westlake is one of the largest automotive lenders in the U.S. with nearly $12 billion in assets under management, and provides indirect financing through a network of over 20,000 new and used car dealerships throughout the U.S.
  • QIAGEN Underlines and Innovates Its Commitment to Sustainability With a EUR 400mn Sustainability-linked Credit Facility
    December 21, 2020
    QIAGEN N.V. (NYSE: QGEN; Frankfurt Prime Standard QIA) announced today that it has successfully concluded a syndicated revolving credit facility for EUR 400mn with an interest rate linked to the company’s environmental, social and governance (ESG) performance. The agreement makes QIAGEN the first provider of molecular diagnostics solutions with a sustainability component built into corporate borrowing. It underlines QIAGEN’s commitment to people and planet by creating financial incentives to further integrate sustainability throughout every part of its business.
  • Capital Southwest Supports IntelliSite’s Acquisition of Broad Sky Networks
    December 21, 2020
    Capital Southwest Corporation (“Capital Southwest”) (Nasdaq:CSWC), an internally managed business development company focused on providing flexible financing solutions to support the acquisition and growth of middle market businesses, announced today that it recently supported the acquisition of Broad Sky Networks, Inc. (“Broad Sky”) by IntelliSite Corporation (“IntelliSite”), a portfolio company of DFW Capital Partners (“DFW”). Concurrent with the acquisition, IntelliSite created a new international, technology-focused, holding company EPIC IO Technology (“EPIC IO”) comprised of Broad Sky and IntelliSite as independent subsidiaries.
  • Audax Private Debt Provides Financing to Support Add-On Acquisitions and Refinancing for Metalmark Capital’s Portfolio Company, Innovetive Petcare
    December 21, 2020
    Audax Private Debt announced that, as Agent & Sole Lead Arranger, it provided a Second Lien Credit Facility to support add-on acquisitions and a refinancing for Metalmark Capital’s portfolio company, Innovetive Petcare (the “Company” or “Innovetive”). Headquartered in Austin, TX, Innovetive Petcare is a leading acquirer and operator of specialty and general practice veterinary hospitals and clinics for companion animals. The company primarily operates in the south central and southeastern United States.
  • Survey: 60% of Executives Will Continue to Let Employees Work Remotely Post-Pandemic
    December 21, 2020
    While COVID-19 has meant tremendous economic hardship across all business sectors, executives widely feel employees have risen to the occasion regarding productivity as a result of much of the country utilizing a work-from-home ("WFH") model. Furthermore, most of these business leaders will continue to let their employees work remotely after widespread application of a coronavirus vaccine. Those are a pair of key findings from EisnerAmper LLP's executive survey, which gauged the outlook of business leaders throughout the United States.
  • Antares Supports Novacap’s Acquisition of Logibec
    December 21, 2020
    Antares announced today that it served as lead arranger and is acting as administrative agent on senior secured credit facilities to support the acquisition of Logibec by Novacap. Headquartered in Montreal, Canada, Logibec is a Montreal-based healthcare software company.
  • J.P. Morgan Expands Venture Capital Coverage for the Healthcare Industry With the Hiring of Skip Kelly as Managing Director and Relationship Executive
    December 21, 2020
    The healthcare sector continues to attract record levels of venture funding as early-stage startup companies rise to the forefront of delivering critical innovations. Wall Street giant J.P. Morgan’s goal is to bring value to venture capital (VC) firms that are supporting these startup companies through its global network, industry expertise, and tailored financial solutions. To support this goal, today, J.P. Morgan announced the hiring of Skip Kelly as managing director and relationship executive on the Venture Capital Coverage team.
  • Rabobank Announces Leadership Changes in U.S., Canadian Offices
    December 21, 2020
    Rabobank, the leading global food and agribusiness bank, has appointed two of its top executives, Tamira Treffers-Herrera and Robert Sinescu, to become Co-Heads of North American Client Coverage, positioning the Bank for future growth in the region. Treffers-Herrera has also assumed the role of Vice Chairperson and Head of the Atlanta office, where she additionally oversees Rabobank Mexico, which is led by Eduardo Palacios. Sinescu is the Head of the Chicago office, and also oversees Rabobank Canada, led by Marc Drouin, who was recently appointed as Canada's General Manager.
  • PitchBook Releases 2021 Private Equity Outlook Predicting Record Fundraising Year
    December 21, 2020
    PitchBook, the premier data provider for the private and public equity markets, today released its 2021 US Private Equity Outlook, which details predictions for private equity (PE) activity and performance in 2021. This past year defied expectations for most investors and PE managers were no exception. Dealmaking nearly ground to a halt in March but has since recovered rather quickly. Fundraising is on track for another strong year, although emerging managers have had a difficult time in a virtual environment. Exits have also slowed, but there are potential bright spots in the IPO market. Despite the widespread business disruption caused by the pandemic, private market transactions multiples have remained stubbornly high.
  • Exela Technologies Secures Term Loan of $145 Million
    December 17, 2020
    Exela Technologies, Inc. (“Exela”) (NASDAQ: XELA), a location-agnostic global business process automation leader, announced that it has entered into a 5-year, $145 million term loan facility with Angelo Gordon, a global alternative investment firm. The facility provides for an initial funding of approximately $92 million and subject to certain conditions a further funding of approximately $53 million. A portion of the proceeds from the initial funding will be used to retire all debt outstanding under Exela’s accounts receivables securitization facility of approximately $83 million.
  • Aurora Cannabis Revises Credit Facility Terms; Closes Aurora Sun Facility
    December 17, 2020
    Canadian cannabis company Aurora Cannabis Inc. said Wednesday it has reached an agreement with its lenders to extend the maturity of its credit facility to December 31, 2022. The company also said it has ceased operations at the Aurora Sun facility and scaled back production at the Aurora Sky facility to 25 percent of its previous capacity.
  • B&G Foods Announces Closing of Credit Agreement Refinancing
    December 17, 2020
    B&G Foods, Inc. (NYSE: BGS) announced today the closing of its previously announced credit agreement refinancing. The refinancing includes a $300.0 million add-on tranche B term loan facility under the Company’s existing senior secured credit facility. The tranche B term loan facility was issued at a price equal to 99.00% of its face value. The add-on term loans, which have the same terms as, and are fungible with, B&G Foods’ existing $371.6 million of tranche B term loans, will bear interest at a rate of LIBOR plus 2.50%, with a 0.00% LIBOR floor, and have a maturity date of October 10, 2026.
  • Williams Closes on New Credit Facilities
    December 17, 2020
    Williams Industrial Services Group Inc. (OTCQX: WLMS) (“Williams” or the “Company”), a construction and maintenance services company, today announced that it has entered into new credit agreements (the “Credit Facilities”), including a $50.0 million term loan facility (the “Term Loan”) with Energy Impact Credit Fund, an affiliate of Energy Impact Partners, as Agent to the Term Loan, CION Investment Corporation, and CrowdOut Capital, which consists of a $35.0 million initial term loan and a $15.0 million delayed draw facility, and a $30.0 million revolving credit facility (the “Revolver”) with PNC Bank, which together replaced its previous facilities.
  • Fashion Retailer rue21 Strikes Deal To Retire Debt
    December 17, 2020
    Fashion retailer rue21 (r21 Holdings, Inc.) said that its formidable financial standing enabled it to refinance its current term loan, decrease the cost of funds and bolster available liquidity, according to an announcement. The retailer modified its asset-based credit facility to bolster availability to $155 million due 2025 headed up by Bank of America, N.A. The modification comes with a rise to the FILO Loan via a collaborative effort between Tiger Finance and Bank of America.
  • Guitar Center Announces Court Approval of Restructuring Plan
    December 17, 2020
    Milbank LLP is serving as legal counsel to the Company. Houlihan Lokey is serving as the Company’s financial advisor. BRG is serving as the Company’s restructuring advisor. Stroock & Stroock & Lavan LLP is serving as legal counsel to an ad hoc group of Secured Noteholders and Province is serving as financial advisor. Kirkland & Ellis LLP is serving as legal counsel to Ares Management Corporation. Debevoise & Plimpton LLP is serving as legal counsel to Brigade Capital Management and GLC Advisors & Co. is serving as financial advisor. Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as legal counsel to The Carlyle Group.
  • ClickLease LLC Announces a $100 Million Line of Credit With Credit Suisse
    December 17, 2020
    ClickLease LLC, an innovator in the commercial equipment finance industry announced the successful closing of a $100 million credit facility with Credit Suisse and Hudson Cove Capital. Sector Financial Inc., an affiliate of Credit Suisse, provided access to the Credit Suisse debt facility. Clicklease, headquartered in Salt Lake City, UT, is disrupting small ticket equipment finance with its best-in-class technology and proprietary algorithms delivering instant credit decisions and funding, putting more control into the hands of its dealers.
  • Albert M. Schenck Joins KeyBank's Commercial Banking Team
    December 17, 2020
    KeyBank continues to grow Commercial Banking resources in its Connecticut and Massachusetts market with the addition of Albert M. Schenck, who has joined Key as a Senior Relationship Manager. Schenck is responsible for managing new and existing relationships with middle market commercial clients and reports to Commercial Sales Leader, Matthew Hummel.
  • Credit Acceptance Announces Extension of Revolving Secured Line of Credit Facility and Increase and Extension of Revolving Secured Warehouse Facility
    December 17, 2020
    Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) announced that on December 15, 2020, we extended the maturity of our revolving secured line of credit facility with a commercial bank syndicate from June 22, 2022 to June 22, 2023. The amount of the facility will remain at $340.0 million until June 22, 2022, when the amount of the facility will decrease to $305.0 million. As of December 15, 2020, we had $65.3 million outstanding under the line of credit facility.
  • Crystal Financial LLC Agents $40 Million Senior Credit Facility for Basic Fun!
    December 17, 2020
    Crystal Financial LLC announced the closing of a $40,000,000 senior credit facility comprised of a $20,000,000 revolving line of credit and a $20,000,000 term loan for Basic Fun! (“the Company”). Proceeds from the transaction were used refinance existing debt and provide the Company with enhanced flexibility to continue growing the business.
  • BHI Arranges New Financing For Hotwire Communications, a Florida-Based Company, Remains Active for SFLA Middle Market Companies in the Pandemic
    December 17, 2020
    BHI, a full-service commercial bank, announced that it has closed a $15 million credit facility for Hotwire Communications, a national fiber optics internet cable provider for residential and commercial buildings. Based in Fort Lauderdale, Hotwire serves markets in the Southeastern United States.
  • Signature Bank Expands Executive Management Team With Appointment of Two Executives
    December 17, 2020
    Signature Bank (Nasdaq: SBNY), a New York-based full-service commercial bank, announced today expansion of its executive management team with the appointment of two executives. Lisa Bond was named to the newly created position of Senior Vice President and Chief Corporate Social Impact Officer, which encompasses Diversity & Inclusion (D&I) and Environmental, Social and Governance (ESG) initiatives, areas in which the Bank is expanding its efforts companywide. Ana Harris, Signature Bank Senior Vice President and Director of Human Resources, was also promoted to the post of Senior Vice President and Chief Human Resources Officer (CHRO).
  • Monroe Capital Supports Corsair Capital LLC’s Majority Investment in Identity Intelligence Group, LLC
    December 17, 2020
    Monroe Capital LLC (“Monroe”) today announced it acted as sole lead arranger and administrative agent on the funding of a senior credit facility to support the majority investment in Identity Intelligence Group, LLC (“IDIQ”) by private equity sponsor Corsair Capital LLC. Founded in 2009, IDIQ is a tech-enabled leader in credit report and identity theft monitoring. IDIQ provides credit reporting, identity theft and dark web monitoring, identity restoration and related family protection services in the rapidly evolving $20 billion consumer identity monitoring market.
  • SFNet Advocacy Alert: Governor’s Office Pushing for Amendment to Increase Transaction Threshold
    December 17, 2020
    New York State Assembly Bill 10118-A, sponsored by Assemblyman Kenneth Zebrowski (96th District), and its Senate equivalent S.5470-B sponsored by Senator Thomas (6th District) were passed by the New York State Assembly and Senate over the summer and delivered to Governor Cuomo for signature last week. It is anticipated that the Governor will sign this legislation by year end. The new statute would require, among other provisions, that all non-regulated commercial finance companies, including ABL lenders and factors, that propose to lend $500,000 or less to New York-based borrowers, to disclose to these potential borrowers immediately prior to entering into a credit or factoring agreement the Annual Percentage Rate (“APR”) of the “loan” (inclusive of all fees and costs), expressed as a dollar amount, to be charged to the prospective borrower so that the borrower, allegedly, has the ability to better understand the lender’s pricing and make comparisons to other offers the prospective borrower may have received.
  • United Gaming Announces New $250-Million Credit Facility - Completes Fifteenth Acquisition and Emerges as Largest COAM Company in Georgia
    December 16, 2020
    United Gaming LLC ("the company" or "UG"), the largest operator of coin-operated amusement machines (COAMs) in the State of Georgia, announced that it had recently entered into a new senior secured $250-million multi-draw credit facility (the "Credit Facility") with a New York-based investment group acting as agent. The Credit Facility includes incremental committed borrowing available for future expansion. At the time of closing, the use of the proceeds included fees, refinancing of an existing facility, acquisitions, capital expenditures, and general corporate purposes.
  • SATO Corporation Signs a Total of EUR 350 Million Committed Revolving Credit Facilities
    December 16, 2020
    SATO Corporation (SATO) strengthened its liquidity position by signing a total of EUR 350 million committed revolving credit facilities with Nordea Bank Oyj, Danske Bank A/S, Finland Branch, OP Corporate Bank plc, Swedbank AB (publ), Svenska Handelsbanken AB (publ), Branch Operation in Finland.
  • ENTACT Acquired by JF Lehman With Debt Financing
    December 16, 2020
    Deutsche Bank Credit Solutions and Direct Lending provided debt financing for an acquisition of ENTACT LLC by J.F. Lehman & Co., a company statement said today. Proceeds will fund company growth. ENTACT, based in Westmont, Ill., employs approximately 600 people.
  • Sidley Represents Invitation Homes in US$3.5 Billion Sustainability-Linked Credit Facility
    December 16, 2020
    Sidley represented Invitation Homes Inc. (NYSE: INVH) in a US$3.5 billion sustainability-linked syndicated credit facility agented by Bank of America, N.A., with BBVA USA acting as Sustainable Agent and Coordinator. The credit facility consists of a US$1 billion revolving credit facility and a US$2.5 billion term loan facility.
  • Vaccine to Provide Relief to Global Structured Finance Sectors
    December 16, 2020
    Widespread vaccine availability later in 2021 will alleviate pressures on global structured finance (SF) asset performance by reducing the duration of the pandemic and likelihood of lockdown measures, mitigating downside risk in 2H21, Fitch Ratings says. Positive vaccine developments are a significant factor in Fitch’s expectations for global GDP growth in 2021, with further government support and policy easing expected until the health crisis is brought under control. However, delayed vaccine availability would result in significantly weaker growth in 2021.
  • One-In-Four Small Business Owners Will Close Doors If Economic Conditions Don’t Improve Soon
    December 16, 2020
    The NFIB Research Center released its latest survey focusing on the impact the COVID-19 pandemic and imposed shutdowns have had on small businesses. This is the 14th survey since early March. One-in-four small business owners reported that they will have to close their doors in the next six months if the current economic conditions don’t improve, up 5% from last month. Another 22% of owners anticipate they will be able to operate no longer than 7-12 months under current economic conditions.
  • U.S. Lost 45% of Commercial Banks Since 2000, but Net Income Grows by 207%
    December 16, 2020
    Data acquired by Finbold.com reveals that the total number of Commercial Banks in the US has dropped by 45.65%. The drop has been registered between 2000 and 2020. The data shows that Commercial Banks have closed at a rate of 3.15% yearly average.
  • First Business Capital Corp. Announces $4,990,000 Closed Asset-Based Lending Deal for Turnaround
    December 16, 2020
    Mike Colloton, Vice President – Business Development Officer, announced a closed and funded turnaround financing deal involving a $4,990,000 revolving line of credit facility, a real estate term loan, and an equipment term loan for a plastic injection molding business in Michigan.
  • CIT Donates Two Million Meals to Fight Hunger
    December 16, 2020
    CIT Group Inc's (NYSE: CIT) annual partnership with Feeding America® has helped provide Two Million Meals1 to people in need this holiday season. With the support of its customers, employees and followers, the company brought awareness to the pressing issue of food insecurity across the country.
  • UMB Capital Finance Provides $2 Million Credit Facility to Data Analytics Firm and Software Value Added Reseller
    December 16, 2020
    UMB Bank, N.A., through its UMB Capital Finance Accounts Receivable Finance business channel, provided a $2 million credit facility to a Massachusetts-based data analytics service firm specializing as a software value added reseller. The facility will be utilized for working capital support needed for this quickly expanding business.
  • Tradewind Finance Announces $1 Million Credit Facility for Seafood Importer and Wholesaler in the USA
    December 16, 2020
    Tradewind Finance has provided a $1 million domestic factoring facility to a seafood importer and wholesaler based in the United States that sells a variety of fish, including snapper, tuna, swordfish, mahi-mahi, and grouper, to retailers and distributors in the USA. The company is a new subsidiary of a large seafood farmer and processor based in Costa Rica and is using the funding to expedite cash flow back to the parent company and support growth in the USA.
  • Varagon Capital Partners Supports Norwest Equity Partners' Acquisition of Red Monkey Foods
    December 15, 2020
    Varagon Capital Partners (Varagon) today announced it is serving as Administrative Agent, Lead Arranger and Bookrunner on a senior secured credit facility to support the acquisition of Red Monkey Foods (Red Monkey) by Norwest Equity Partners (NEP). Red Monkey Foods is a leading provider of premium organic, private label spices and seasonings, as well as branded salts sold through grocery, mass, specialty retailers, and e-commerce channels.
  • Vince Holding Corp. Closes Third Lien Credit Facility
    December 15, 2020
    On December 11, 2020, the Company entered into a $20 million Third Lien Credit Facility with SK Financial Services, LLC (“SK Financial”). Interest and fees under the Third Lien Credit Facility are payable in kind. Proceeds from this facility were used to pay down the borrowings under the Company’s existing Revolving Credit Facility. In addition, on December 11, 2020, the Company entered into amendments to its existing Revolving Credit Facility and to its existing Term Loan Credit Facility.
  • Eastern Bank Welcomes Curate Partners As An Asset-Based Lending Customer
    December 15, 2020
    Eastern Bank is pleased to announce Curate Partners LLC and its subsidiaries Curate Partners LLC, II and Curate Insights, LLC as new asset based lending customers in its Commercial Banking Division. Founded in 2014, Curate Partners is a specialized recruitment and consulting agency helping organizations achieve digital transformation. Eastern is providing an asset based lending (ABL) line of credit to meet Curate’s working capital and general corporate financing needs.
  • TriplePoint Venture Growth BDC Corp. Announces Extension and Expansion of Its Revolving Credit Facility
    December 15, 2020
    TriplePoint Venture Growth BDC Corp. (NYSE: TPVG) (the “Company,” “TPVG,” “we,” “us,” or “our”), the leading financing provider to venture growth stage companies backed by a select group of venture capital firms in the technology and other high growth industries, today announced it has extended and expanded its revolving credit facility (“Credit Facility”). Deutsche Bank AG serves as administrative agent and as a lender, together with existing lenders KeyBank National Association, TIAA, FSB, MUFG Union Bank, N.A., Hitachi Capital America Corporation and NBH Bank, and along with new lender, Customers Bank, under the Credit Facility.
  • TravelCenters of America Closes New $200 Million Term Loan
    December 15, 2020
    TravelCenters of America Inc. (Nasdaq: TA) (“TA”) today announced the closing of a new $200 million senior secured term loan facility (“Term Loan”). Terms of the new loan include interest payable at LIBOR, with a floor of 100 basis points, plus 600 basis points and a seven-year maturity.
  • SG Credit Partners Provides $2.1MM Unitranche Loan – Collateral Based Term Loan A + Cash Flow Based Term Loan B
    December 15, 2020
    SG Credit Partners provided a $2.1 million unitranche loan to a sponsor-backed e-tailer of aftermarket auto parts focused on a niche of the broader aftermarket industry. The Company sells through its Company-owned DTC eCommerce channel as well as through 3rd party marketplaces.
  • Great Rock Capital Closes CAN$10 Million Senior Secured Revolving Credit Facility with Smart Employee Benefits, Inc.
    December 15, 2020
    Great Rock Capital, an asset-focused commercial finance company specializing in middle market lending, today announced the completion of a CAN$10 million senior secured revolving credit facility with Smart Employee Benefits, Inc. ("SEB"), a Canadian-based technology company that builds, customizes, implements, integrates, and manages data-processing solutions.
  • Tradecycle Capital Delivers Two New Accounts Payable Finance Facilities in November
    December 15, 2020
    Tradecycle Capital, an Indianapolis-based trade finance provider, announced it funded two new revolving accounts payable funding facilities in November. One for $750M to a manufacturer of indoor/outdoor specialty lighted signage and another for $1.5MM to an automotive lighting and component manufacturer.
  • Gemino Healthcare Finance Line of Credit to a Provider of Mental Health and Substance Use Disorder Treatment
    December 15, 2020
    Gemino Healthcare Finance announced it provided a $44 million asset-based revolving line of credit in December 2020.
  • Axiom Bank, N.A. Welcomes Vanessa Lopez
    December 15, 2020
    Vanessa Lopez was appointed VP, Controller, at Axiom Bank, N.A., a Maitland-based, leading community bank. Lopez brings nearly two decades of experience in accounting and banking to her new role.
  • Siena Lending Group LLC Announces the Closing of a $17.5 Million Credit Facility for a California-Based Tire Company
    December 15, 2020
    Siena Lending Group LLC (“Siena”) is pleased to announce the closing of a $17.5 Million asset-based credit facility with a California-based Tire Company (“TireCo” or the “Company”). The two-year revolving credit facility was used to refinance existing debt and provide additional working capital to support business growth.
  • Lundin Energy AB Announces Successful Refinancing Into a $5 Billion Corporate Credit Facility
    December 14, 2020
    Lundin Energy AB (the ‘Company”) is pleased to announce that is has successfully completed the refinancing of its existing secured USD 4.75 billion Reserves Based Lending facility (“RBL”) and other corporate facilities, into a new, lower margin USD 5 billion five-year corporate facility, (the “Facility”).
  • CFOs Taking More Prominent Strategic and Enterprise-Building Responsibilities Following Their Critical COVID-19 Work, New Survey Shows
    December 14, 2020
    Findings from a new survey show Chief Financial Officers ("CFOs") are taking on greater strategic and enterprise-building roles after guiding their organizations through the challenges of COVID-19. CFO Research of Argyle Advisory & Research Services and FTI Consulting, Inc. surveyed 325 corporate finance executives to better understand how CFOs and the finance function drive enterprise value. Five key themes emerged:
  • Liberty Hall Capital Partners Acquires Comply365
    December 14, 2020
    Liberty Hall was advised by Spurrier Capital Partners, while financing for the acquisition was provided by Ally Finance, Fidus Investment Corporation and RF Investment Partners. Legal advice to Liberty Hall was provided by Gibson Dunn & Crutcher. Comply365 was advised by AGC Partners. Legal advice to Luminate and Comply365 was provided by Kirkland & Ellis.
  • CytoSorbents Pays Off $15M Term Loans and Establishes New Undrawn $15M Loan Commitment with Bridge Bank
    December 14, 2020
    CytoSorbents Corporation (NASDAQ: CTSO) is a leader in blood purification to treat cytokine storm and deadly inflammation in life-threatening illnesses with its flagship product, CytoSorb. CytoSorb is approved in the European Union and distributed in 58 countries worldwide. (PRNewsfoto/CytoSorbents Corporation) CytoSorbents Corporation (NASDAQ: CTSO), a critical care immunotherapy leader commercializing its CytoSorb® blood purification technology to treat deadly inflammation in critically ill and cardiac surgery patients around the world, announces it has closed on the Third Amendment (the "Amendment") of its Amended Loan and Security Agreement with Bridge Bank.
  • Office Sector ‘Workout Mode’ to Persist for Two Years or More, Advises A&G Executive
    December 14, 2020
    Office tenants will be in tough negotiations with landlords for the next two years or more—and that means they need to be strategic about securing concessions that lower their occupancy costs, writes Andy Graiser of A&G Real Estate Partners (A&G) in a column for Commercial Property Executive. Fortunately, both landlords and their lenders are starting to show more flexibility in negotiations, writes Graiser, who has decades of experience in real estate lease restructurings, dispositions, valuations and acquisitions. “Office landlords around the country are confronting a stark choice—either shift into ‘workout mode’ or risk losing important tenants for good.”
  • DLL to Provide Financing to Truck Camper Manufacturer, Northern Lite
    December 14, 2020
    DLL, global asset finance company for equipment and technology, has partnered with Northern Lite a manufacturer of high quality 4-season truck campers. Recreational vehicle dealers will now have the benefit and option of financing their Northern Lite inventory purchases with DLL anywhere in North America. Northern Lite is known throughout the RV industry for quality, workmanship, high-end fit and fiberglass finish on all products, including the new Boreal fiberglass travel trailer.
  • Comments on Outline of Proposals Under Consideration and Alternatives Considered for Section 1071 of the Dodd-Frank Act Governing Small Business Lending Data Collection and Reporting
    December 14, 2020
    In September, SFNet issued an alert pertaining to CFPB Section 1071, requesting members respond to CFPB’s invitation to comment by December 14th. The measure could prove to be unduly burdensome to the vast majority of small and mid-sized finance companies that provide credit to small businesses. With the assistance of SFNet members serving on the 1071 Subcommittee, SFNet has submitted a comment letter requesting specific exemptions for relevant asset classes.
  • Wolters Kluwer’s Annual Indicator Survey Shows Significant Risk, Compliance Concerns for U.S. Lenders
    December 14, 2020
    Regulatory compliance and risk concerns remain high in a number of key areas for U.S. banks and credit unions, according to the results of Wolters Kluwer’s 2020 Regulatory & Risk Management Indicator survey. This year’s survey, conducted by Wolters Kluwer’s Compliance Solutions business, generated a Main Indicator Score of 103, an eight-point increase over the 2019 score. This was influenced by concerns about managing regulatory change, mortgage-related regulations, and U.S. Coronavirus Aid, Relief, and Economic Security (CARES) Act requirements.
  • J D Factors Announces Factoring Facilities
    December 14, 2020
    J D Factors announced it provided the following factoring facilities: $120,000 to a transportation company in Illinois; $1,500,000 to a transportation company in British Columbia; $200,000 to a transportation company in New Jersey' $100,000 to a transportation company in Ontario and more.
  • Austin Financial Services Provides a $1.3MM Revolving Facility to a Private Equity Owned Technology Manufacturing and Engineering Company
    December 14, 2020
    Austin Financial Services, Inc. (AFS) is pleased to announce the closing of a $1.3MM revolving A/R and inventory facility to a private equity owned Technology Manufacturing and Engineering Company. The Company’s ownership plans to grow and expand the business by leveraging shared relationships from the common ownership of their portfolio companies. As the equity group looks to expand its ownership of companies in the consumer goods market, they once again called on AFS - a tried and tested lending partner with a proven track record of providing customized and flexible financing solutions.
  • Cascades Announces That its Subsidiary Greenpac Mill, LLC Has Successfully Refinanced its Bank Debt
    December 14, 2020
    Wells Fargo Bank, National Association, Manufacturers and Traders Trust Company and Merrill Lynch, Pierce, Fenner & Smith Incorporated served as Co-Lead Arrangers and Joint Bookrunners on the amended credit facilities, which consist of a US$75 million term loan and a US$50 million revolver. The principal amount outstanding under the term loan was reduced from US$121 million to US$75 million in connection with the amendment to the credit facilities.
  • FTI Consulting Bolsters Health Solutions Practice with Seven Senior Appointments
    December 14, 2020
    FTI Consulting, Inc. (NYSE: FCN) today announced the appointment of seven professionals to its Health Solutions practice, including Senior Managing Directors James Fisher, Julie Kliger and Kevin McCadden, and Managing Directors Matthew Leshy, Juliana Malhotra, Patterson Shafer and Amy Showalter.
  • Uniti Group Inc. Announces Refinancing of its Revolving Credit Facility
    December 14, 2020
    Uniti Group Inc. (“Uniti” or the “Company”) (Nasdaq: UNIT) announced today that it has entered into an amendment to its credit agreement that upsizes commitments from new and existing lenders under its senior secured revolving credit facility to $500 million. Under these commitments, the covenants have been revised to provide Uniti greater flexibility in pursuing its strategic initiatives, and, subject to certain conditions, the maturity date has been extended to December 10, 2024 with substantially improved pricing. Bank of America acted as Left Lead Arranger and Bookrunner on the transaction.
  • Accord Financial Adds to Leadership Team Strengthening Commitment to Simplify Access to Capital
    December 14, 2020
    As the organization continues to build and grow its advanced technological platforms meeting client needs with innovative solutions, Accord Financial Corp., one of the U.S. and Canada's leading independent finance companies ("Accord") (TSX: ACD) announced two new members of the executive leadership. Barrett Carlson, Senior Vice President, Corporate Development, will oversee all aspects of the company's growth, development and marketing. Eric Starr, Senior Vice President, Program Operations and Risk, is spearheading Accord's strategic and digital transformation.
  • Ahold Delhaize Announces €1 Billion Sustainability-Linked Revolving Credit Facility
    December 14, 2020
    Ahold Delhaize today announces that it has successfully closed a €1 billion, Sustainability-linked Revolving Credit Facility (the ‘Facility’), refinancing its existing 2015-dated €1 billion facility. The Facility is an important milestone that highlights how Ahold Delhaize is reinforcing the alignment of its funding strategy and its commitments laid out in its Healthy & Sustainable ambition. ABN AMRO and Société Générale acted as Coordinators and Sustainability Coordinators on the Facility.
  • Audax Private Debt and Adams Street Partners Provide Financing to Support Freeman Spogli’s Acquisition of US Med-Equip
    December 14, 2020
    Audax Private Debt and Adams Street Partners, as Joint Lead Arrangers, provided a unitranche credit facility to support Freeman Spogli’s acquisition of US Med-Equip (“USME” or the “Company”), a value-added distributor and rental provider of movable medical equipment. Varagon Capital Partners and Madison Capital Funding, as joint syndication agents, and Willow Tree Credit Partners also supported the financing. Audax Private Debt also served as Administrative and Collateral Agent.
  • Piper Sandler Acquires Restructuring Team with Addition of TRS Advisors
    December 14, 2020
    Piper Sandler Companies (NYSE: PIPR), a leading investment bank, today announced that it has entered into a definitive agreement to acquire TRS Advisors. TRS Advisors is an independent advisory firm focused on advising and executing restructurings, reorganizations and other complex financial transactions for public, private and governmental clients.
  • Jefferies Group and Hildene Capital to Invest in Equity of CLOs Managed by Carlson Capital
    December 14, 2020
    Carlson Capital, L.P. (“Carlson”), an alternative asset management firm, today announced that it reached a strategic agreement with Jefferies Group LLC (“Jefferies”) and structured credit investor Hildene Capital Management, LLC (“Hildene”) to support the new issuance of CLOs on Carlson’s Cathedral Lake platform. Under the terms of the agreement, Jefferies and Hildene will provide CLO equity capital to support the new issuance of four Carlson CLOs within the next three years. As strategic investors, Jefferies and Hildene will share in the growth of the Cathedral Lake CLO platform.
  • Hawks Announce Historic Agreement With Black-Owned Banks
    December 14, 2020
    Earlier today, the Atlanta Hawks announced that it has agreed to refinance the construction loan for the Emory Sports Medicine Complex with a syndicate of Black-owned banks. The $35 million loan marks the first time a professional sports franchise has had a significant loan underwritten exclusively by Black banks. The groundbreaking transaction was facilitated with the support of the newly-formed National Black Bank Foundation, which organized a syndication team to structure the deal. Georgia-based Carver State Bank served as the syndicate’s Lead Arranger. By partnering with the Black bank syndicate, the Hawks are both demonstrating that Black banks can compete with money center banks for commercial loans as well as using the Club’s strong credit rating to bolster the capital cushion for Black banks so that they can better serve their traditional customer base.
  • Oxford Finance Provides Credit Facility to DCN Dx
    December 14, 2020
    Oxford Finance LLC (“Oxford”), a specialty finance firm that provides senior debt to healthcare services and life sciences companies worldwide, today announced the closing of a senior credit facility and revolving line of credit to DCN Dx (or “the Company”), a lateral flow diagnostics developer. The proceeds are being used to support growth initiatives and were made alongside an equity investment in DCN Dx by Martis Capital, a private equity firm focused exclusively on the healthcare industry. Oxford Finance is the sole lead arranger and administrative agent in this transaction.
  • Assembled Brands Announces New $1 Million Senior Secured Credit Facility with Ranch Rider Spirits Co.
    December 14, 2020
    Assembled Brands announced it provided a new $1 million senior secured credit facility with Ranch Rider Spirits Co. a high-quality, health-focused, canned tequila cocktail brand. Through this partnership, the Austin-based spirits company will be able to accelerate their growth profile through investments in supply chain, marketing, and logistics in 2021.
  • Venus Concept Announces Debt Refinancing
    December 10, 2020
    Venus Concept Inc. (“Venus Concept” or the “Company”) (NASDAQ: VERO), a global medical aesthetic technology leader, announced today that it has amended its existing revolving credit facility with City National Bank of Florida (“CNB”) and successfully refinanced its long-term debt obligations. Specifically, the Company secured a new loan with CNB in the aggregate amount of $50.0 million as part of the Main Street Priority Loan Facility established by the Board of Governors of the Federal Reserve System Section 13(3) of the Federal Reserve Act.
  • ADMA Biologics Enters Into $100 Million Credit Facility Loan Amendment with Perceptive Advisors
    December 10, 2020
    ADMA Biologics, Inc. (Nasdaq: ADMA) (“ADMA” or the “Company”), an end-to-end commercial biopharmaceutical company dedicated to manufacturing, marketing and developing specialty plasma-derived biologics, today announced an amendment to its existing senior secured term loan with Perceptive Advisors (“Perceptive”), which provides for an additional loan tranche of $15 million, increasing the total size of the credit facility to $100 million. The amended terms for the existing $85 million credit facility additionally provide for, among other things, a two-year extension of the interest only period through the duration of the credit facility now maturing in March 2024, at an unchanged borrowing rate of 11%.
  • Oxford Finance Closes $7.4 Million Credit Facility With REACH LTC
    December 10, 2020
    Oxford Finance LLC (“Oxford”), a specialty finance firm that provides senior debt to healthcare services and life sciences companies worldwide, today announced the closing of a $7.4 million senior credit facility and revolving line of credit to REACH LTC (“REACH” or “the Company”), a provider of short and long-term skilled care options. The proceeds are being used for general working capital and the acquisition of one skilled nursing facility located in Town and Country, MO containing 282 licensed beds.
  • Prestige Capital Announces $1.5 Million for a Contract Manufacturer
    December 10, 2020
    Prestige Capital Finance, LLC recently delivered a $1.5 million factoring facility to a company that manufacturers and packages frozen treats for well-known food and beverage companies. The funds were used to expand this contract manufacturer’s product line.
  • Paladin Continues to Expand Top Tier Team
    December 10, 2020
    Paladin Management, the fast-growing middle market advisory firm driving value-creation through financial and operational consulting services, is continuing to see sustained expansion in 2020 with the addition of industry expert, Anthony Horvat, a respected specialist in turning around and leading distressed and underperforming businesses.
  • Siena Lending Group LLC Announces the Closing of a $21.5 Million Credit Facility to Support Saothair Capital Partners' Acquisition of Arandell Corporation
    December 10, 2020
    Siena Lending Group LLC (“Siena”) announces the completion of a $21.5 million asset-based revolving line of credit for Arandell Corporation (“Arandell”). The facility was provided in conjunction with Saothair Capital Partners (“Saothair”) to fund the acquisition pursuant to a 363 sale of assets under Chapter 11, and for working capital needs to support future growth.
  • Wolters Kluwer to Acquire eOriginal
    December 10, 2020
    Wolters Kluwer Governance, Risk & Compliance (GRC) has signed an agreement to acquire eOriginal, a leading provider of cloud-based digital lending software, for approximately €231 million in cash. The acquisition extends GRC Compliance Solutions’ leading position in U.S. mortgage and loan document generation and analytics into the fast-growing digital loan closing and storage adjacency.
  • Capital Southwest Supports Mountaingate Capital’s Investment in Acceleration Partners
    December 10, 2020
    Capital Southwest Corporation (“Capital Southwest”) (Nasdaq: CSWC), an internally managed business development company focused on providing flexible financing solutions to support the acquisition and growth of middle market businesses, announced today that it supported Mountaingate Capital’s (“Mountaingate”) investment in Acceleration Partners LLC (“Acceleration Partners” or the “Company”) with a senior secured first lien term loan and delayed draw facility, as well as a minority equity investment. Capital Southwest led the financing. East West Bank provided a revolver and was a minority co-lender in the term loan and delayed draw facility.
  • Phoenix Lending Survey Results Reveals Slow Growth and Choppy Recovery After COVID-19
    December 10, 2020
    From the fourth quarter Phoenix Management “Lending Climate in America” survey results reveal a slow and choppy recovery after COVID-19. While the majority of lenders surveyed seem to believe economic recovery after COVID-19 to be slow and choppy, the outlook for the U.S. economy in the near-term steadily improves. The near-term grade point average (GPA) increased 33 percentage points to 2.05 from the Q3 2020 GPA of 1.72. The projected outlook for the U.S. economy in the long-term decreased slightly (by 17 percentage points) to 2.43 from the previous quarter’s results of 2.60.
  • Thoma Bravo Completes Acquisition of AxiomSL
    December 10, 2020
    Thoma Bravo, a leading private equity investment firm focused on the software and technology-enabled services sector, today announced the completion of its acquisition of AxiomSL, a leading provider of cloud-enabled risk management and regulatory solutions for banking, investment management, broker dealers and commodity trading institutions. Evercore acted as financial advisor and Weil, Gotshal & Manges LLP served as legal advisor to AxiomSL. Kirkland & Ellis LLP served as legal advisor to Thoma Bravo. Financing for the transaction was provided by Owl Rock Capital, Goldman Sachs Merchant Banking Division, PSP Investments Credit USA LLC and Harvest Partners, LP.
  • TAB Bank Provides Transportation Company in Michigan with a $1 Million Asset-Based Credit Facility and $1.1 Million in Equipment Financing
    December 9, 2020
    TAB Bank is pleased to announce it has provided a $1 million asset-based credit facility for a transportation company located in Michigan. The facility is based on a multi-year agreement and will provide for the company’s ongoing working capital needs. In addition to the revolving credit facility, TAB Bank also provided the company with $1.1 million in equipment financing.
  • Wingspire Provides $30MM to Specialty Construction Products Company
    December 9, 2020
    Wingspire Capital has provided a $30 million senior secured credit facility to a leading manufacturer and distributor of specialty concrete production and handling equipment that are integral in the construction of large buildings, stadiums, roads, bridges and other infrastructure.
  • White Oak Healthcare Finance Provides $110 Million Financing for a 9 Facility Skilled Nursing Portfolio
    December 9, 2020
    White Oak Healthcare Finance, LLC (“White Oak”) today announced it acted as administrative agent and sole lender on the funding of a $110 million senior credit facility secured by 9 skilled nursing facilities in Virginia. The total portfolio comprised over 1,000 beds.
  • Tiger Auctioning Surplus Professional Gear from Keslow Camera
    December 9, 2020
    In its last online auction of the year, Tiger Group is selling digital cameras, lenses and accessories surplus to the continuing operations of Keslow Camera, a leading motion picture film and digital cinema camera rental company
  • Westlake Securities Serves as Exclusive Financial Advisor for Zippy Shell on Transaction Securing $160 Million in Committed Capital
    December 9, 2020
    Westlake Securities, a leading middle market investment bank, announced that it secured the previously announced $160 million in committed capital for Wake Forest, N.C.-based portable storage and moving company, Zippy Shell. Recently ranked again in the Inc. 5000 list of the nation's fastest-growing private companies, Zippy Shell is on the move itself—moving up and growing quickly as the industry's second largest company of its kind.
  • PaperTech, A Leading Provider of Sustainable Food Packaging Products, Acquired by May River Capital
    December 9, 2020
    PaperTech, a leading manufacturer of paperboard packaging products to the frozen food industry and foodservice markets, today announced it has been acquired by May River Capital, a Midwest-based private equity firm focused on helping high-caliber industrial businesses grow and prosper. Paul Hastings LLP served as legal counsel to May River Capital, while Seyburn Kahn, P.C. served as legal counsel to PaperTech and its shareholders. Twin Brook Capital Partners provided the debt financing in support of the acquisition. Amherst Partners acted as the exclusive financial advisor to the company and its shareholders.
  • CIT Serves as Coordinating Lead Arranger for $256 Million Texas Solar Financing
    December 9, 2020
    CIT Group Inc. (NYSE: CIT) today announced that its Power and Energy business served as coordinating lead arranger on a $256 million financing for the 250-megawatt (MW) Taygete I Energy Project owned by 7X Energy, Inc (7X) and located in Pecos County, Texas. 7X Energy is a leading utility-scale solar developer, owner, and asset manager that has originated 1,350 (MWac) of solar projects that are operational or under construction in Texas alone and has a pipeline of over 4,000 MW across the United States.
  • ABC Carpet & Home Selects Gerber Finance For Funding
    December 9, 2020
    Gerber Finance, a leading finance partner for companies experiencing accelerated growth, today announced funding of abc carpet & home, a mission-driven home and lifestyle brand that is a favorite with designers, decorators and consumers. The home goods market and retailers have been experiencing record growth in 2020, as people spend more time at home.
  • John Owen to Retire as Regions Chief Operating Officer Following 38-Year Career in Business and Banking
    December 9, 2020
    Regions Financial Corp. on Tuesday announced Chief Operating Officer John Owen will retire effective March 15, 2021, following a nearly 38-year career in business and banking, the last 13 of which have been at Regions. Owen’s experience and insights have benefited several of Regions’ business groups and, in turn, the people and businesses who turn to Regions for comprehensive and innovative financial services. Owen joined the company in 2007 as head of Operations and Technology. In 2009, he was named head of Regions’ Consumer Services group. He later served two years as head of Business Lines, which included the Business Services, Consumer Services, Consumer Lending and Wealth Management groups.
  • As COVID-19 Cases Rise and Restrictions Loom, Small Business Owners See Long Road to Recovery
    December 9, 2020
    With COVID-19 cases surging and a new wave of restrictions looming, challenges persist for small business owners as they continue to weather the pandemic according to data from the Q4 Wells Fargo/Gallup Small Business Index. While the index score rose 12 points for the second straight quarter, overall optimism levels remain just over half of what they were in late 2019.
  • JCPenney’s Retail and Operating Assets to Exit Chapter 11
    December 8, 2020
    The Company’s asset purchase agreement (“APA”) with Simon, Brookfield and the Company’s DIP and First Lien Lenders (“First Lien Lenders”), supported by the Unsecured Creditors Committee, had previously been approved by the U.S. Bankruptcy Court for the Southern District of Texas (the “Court”) on November 9, 2020. Kirkland & Ellis LLP is serving as legal adviser, Lazard is serving as financial adviser, and AlixPartners LLP is serving as restructuring adviser to the Company. Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as legal counsel and BRG Capital Advisors, LLC is serving as financial adviser to Simon and Brookfield.
  • Great Rock Capital Closes $20 Million Senior Secured Term Loan
    December 8, 2020
    Great Rock Capital, an asset-focused commercial finance company specializing in middle market lending, today announced the close of a $20 million senior secured term loan for an industry-leading full-service equipment rental supplier. The new capital will provide the company with additional liquidity to execute on growth endeavors as it continues to expand into new markets.
  • O’Keefe Expands M&A Practice With the Addition of Marco Eadie to Lead New Corporate Finance Group
    December 8, 2020
    O’Keefe is pleased to announce that Marco Eadie has joined the firm as Managing Director to lead the new Corporate Finance practice. Eadie focuses on transaction advisory services including mergers, acquisitions, buy and sell side advisory, debt recapitalizations, corporate development, restructurings, divestitures, and event-driven financing for both private and publicly held companies.
  • Moody's: COVID-19 Fallout will Drive RMBS Originators to Uphold High Standards in 2021, but Weaken Existing Deals' Performance
    December 8, 2020
    Moody's credit analysts have published the attached outlook for the residential mortgage-backed securities market for 2021. This outlook covers all sub-sectors of RMBS rated by Moody's including prime jumbo, non-prime, GSE credit risk transfer and single-family rental transactions.
  • North Mill Capital LLC (NMC) Promotes Karen Marino to Senior Vice President
    December 8, 2020
    Marino joined NMC in 2015 and has been serving as both an account executive and underwriter. Karen is committed not only to NMC but is very active outside of work. She is on the board of the Secured Finance Network (SFNet) New Jersey Chapter, is currently Vice Chair of the National SFNet Yo Pro Committee, and serves on SFNet’s Education Committee. She is also a past recipient of the SFNet 40 Under 40 Award.
  • Saothair Capital Partners Completes the Acquisition of Arandell Corporation
    December 8, 2020
    Saothair Capital Partners, LLC ("Saothair"), a private equity firm focused exclusively on investing in lower-middle market manufacturing and industrial companies facing unique operational and financial challenges, announced it has acquired the business and assets of Arandell Corporation ("Arandell") through a newly-formed affiliate. Saothair completed the transaction after partnering with existing lender Farragut Capital Partners to be named stalking-horse bidder pursuant to a 363 sale of assets under Chapter 11 of the U.S. Bankruptcy Code.
  • Portage Point Deepens Supply Chain & Procurement Expertise and Establishes Dallas Presence with Veteran Advisor Jim Franks
    December 8, 2020
    Portage Point Partners, LLC (Portage Point), a business advisory and interim management firm that partners with stakeholders during periods of transition, underperformance and distress, announced today that Jim Franks has joined the firm as a Managing Director in Dallas.
  • Clearbanc and Silicon Valley Bank Partner to Power New Capital Program for Pre-Venture Funded Startups
    December 8, 2020
    Clearbanc, the world's largest e-commerce investor and funding platform, and Silicon Valley Bank (SVB), the bank of the world's most innovative companies and their investors, today announced a new partnership to accelerate the growth of US-based early-stage technology companies. Clearbanc expects to deploy more than $50 Million in non-dilutive capital to SVB's US-based Startup Banking software and e-commerce clients to help advance their businesses.
  • Monroe Capital Supports Gryphon Investors’ Investment in 3Cloud, LLC
    December 8, 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 growth of 3Cloud, LLC (“3Cloud”), a portfolio company of Gryphon Investors. Founded in 2016 and headquartered in Downers Grove, Illinois, 3Cloud is a leading provider of strategic advisory and technical services for the Microsoft Azure cloud platform. The company provides "the ultimate Azure experience" by guiding clients in their journey to adoption and modernization within the Microsoft Azure platform.
  • Lannett Announces New $30 Million Revolving Credit Facility
    December 7, 2020
    Lannett Company, Inc. (NYSE: LCI) today announced the closing of a $30 million asset-backed revolving credit facility with Wells Fargo Bank, National Association.
  • Bird Construction Enters Into $200 Million Committed Syndicated Credit Facility With $50 Million Accordion Feature
    December 7, 2020
    Bird Construction Inc. ("Bird") today announced that it has entered into a three-year, $200 million committed, Syndicated Credit Facility (the "Credit Facility") with Bank of Montreal ("BMO") as the lead arranger, bookrunner and administrative agent, and includes The Toronto-Dominion Bank, ATB Financial and Canadian Imperial Bank of Commerce as syndicate lenders (the "Lenders").
  • Nesco Holdings To Acquire Custom Truck One Source And Create Leading Specialty Rental Equipment Company In Partnership With Platinum Equity
    December 7, 2020
    Nesco Holdings, Inc. (NYSE: NSCO, "Nesco" or the "Company") today announced it has entered into a definitive agreement to acquire Custom Truck One Source ("CTOS") for a purchase price of $1.475 billion. Nesco and CTOS are leading providers of specialized truck and heavy equipment solutions including rental, sales and aftermarket parts and service. J.P. Morgan Securities LLC is serving as financial advisor to Nesco and Latham & Watkins LLP is serving as legal counsel. Citi is serving as financial advisor to CTOS and Kirkland & Ellis LLP is serving as legal counsel. Debt financing commitments have been obtained by Bank of America, who will be leading the financing. Hughes Hubbard & Reed LLP is serving as legal counsel to Platinum.
  • FiscalNote Secures $160 Million in Financing and Growth Capital
    December 7, 2020
    Led by Arrowroot Capital and Runway Growth Capital, the funding will fuel continued international growth, future acquisitions and expansion of core products and services
  • Restaurant Franchise Financing Rebounds to Pre-Pandemic Levels, MUFG Says
    December 7, 2020
    Loan pricing and terms reflect healthier market conditions for large and mid-sized players Financing for restaurant franchise operators in the large and middle-tier segments has mostly bounced back to what it had been before the onset of the COVID-19 pandemic, according to Brian Geraghty, head of Restaurant Finance at Mitsubishi UFJ Financial Group (MUFG).
  • Crestmark Provides More Than $44.8 Million in Commercial Financing to 60 Businesses in the Second Half of November
    December 7, 2020
    Crestmark secured a total of $1,800,000 in ABL financial solutions for five new clients; Crestmark Equipment Finance provided $11,790,009 in three new lease transactions; Crestmark Vendor Finance provided $4,592,541 in 49 new lease transactions; the Joint Ventures Division provided $21,490,800 in financing for one new client; the Government Guaranteed Lending group provided $5,150,000 in financing for two new clients in the second half of November.
  • Imperial Capital Hires Amer Tiwana to Head Distressed and Special Situations Strategy
    December 7, 2020
    Imperial Capital Group, LLC (“Imperial Capital”) announced today the hiring of Amer Tiwana who will be charged with leading its sales & trading desk analysis strategy in distressed and special situations. Mr. Tiwana, an investment analyst with nearly 20 years on Wall Street, is based in Stamford, CT and reports to Tim Sullivan, President of Imperial Capital. This new hire is part of Imperial Capital’s efforts to expand and deepen its alternative credit strategy which provides distressed and esoteric asset solutions to institutional investors in the U.S. and the EEA.
  • Welsh, Carson, Anderson & Stowe Names Nick O'Leary As A General Partner
    December 7, 2020
    Welsh, Carson, Anderson & Stowe ("WCAS"), a leading private equity firm focused exclusively on the healthcare and technology industries, announced today that it has named Nick O'Leary as a new General Partner. WCAS has successfully built many enduring healthcare companies over the past four decades, having invested approximately $10 billion of equity in over 90 healthcare companies through its 13 equity funds.
  • November Bankruptcy Filings Hit 14-year Low
    December 7, 2020
    Epiq, a global leader in legal services, released its November bankruptcy filing statistics from its AACER business. The total number of new U.S. bankruptcy filings across all chapters was 34,440 for the month, which is the lowest monthly total since January 2006. New Chapter 11 commercial filings in November were up 40% with 654 new cases compared to 449 from the same period last year.
  • ORBCOMM Closes on New Term Loan Facility and Redeems All Outstanding Senior Secured Notes
    December 7, 2020
    ORBCOMM Inc., a global provider of Machine-to-Machine (M2M) and Internet of Things (IoT) solutions, today announced that it has entered into a $200 million five-year term loan facility and a $50 million revolving credit facility. JPMorgan Chase Bank, N.A., acted as Administrative Agent, Lead Arranger and Joint Bookrunner for the financing. Funding was provided through a syndicate of banks.
  • francesca’s® Files Voluntary Chapter 11 to Implement Sale
    December 7, 2020
    Company Obtains $25 Million in Financing to Facilitate Sale Process While Continuing to Serve Customers in the Ordinary Course Process Aimed at Addressing Lease Obligations, Positioning the Company for New Ownership for Long-Term and Brand Sustainability
  • Fifth Third Business Capital Provides New Senior Credit Facility for BlastOne International
    December 7, 2020
    BlastOne International is a privately held company specializing in the provision of leading products and services to the corrosion control industry throughout North American and Asia Pacific. The Company is considered a global leader in abrasive and industrial coating equipment, equipment design and consumables, providing corrosion protection training, protective and safety gear and supplies to contractors, major metal fabricators and asset owners.
  • Gibraltar Supports Sustainability-Focused Paper Manufacturer with $7.5MM
    December 7, 2020
    A new company that acquired the assets in place from an idled paper manufacturer was in need of a financing partner to support its rapid sales growth after relaunching operations. Gibraltar provided the necessary liquidity to allow the company to continue funding its growth — driven by rapid sales demand. GBC was chosen because of its borrowing base creativity and ability to provide a $7.5M ABL without tying up all the company’s assets.
  • J D Factors Announces Factoring Facilities
    December 7, 2020
    J D Factors announced it has provided the following factoring facilities: $100,000 to a transportation company in Ontario; $120,000 to a transportation company in Illinois; $100,000 to a transportation company in Alberta; $100,000 to a transportation company in Georgia
  • Rosenthal Provides $1 Million PO Finance Facility for Tennessee-based Uniform Importer
    December 7, 2020
    The client is a woman-owned and operated import business primarily serving multi-national food service supply companies. The principal’s family has deep roots and a successful track record in the textile industry, but the client was looking to capitalize on an entrepreneurial opportunity that would allow her to branch out on her own. Rosenthal was introduced to the client by the factoring division of a Midwest bank, since purchase order financing was being considered as an option to work in tandem with the bank’s proposed factoring facility.
  • Former U.S. Congressman Harold Ford Jr. Joins PNC Corporate and Institutional Banking
    December 7, 2020
    The PNC Financial Services Group, Inc., today announced that Harold Ford, Jr., has assumed the role of vice chairman, Corporate and Institutional Banking (C&IB), reporting to Michael Lyons, head of C&IB. In this position, Ford will be responsible for new business development and cultivating senior client relationships across all segments within the C&IB line of business. He also will help lead critical strategic initiatives focused on further growing PNC's C&IB businesses nationally.
  • Kraton Corporation Announces Amendment and Extension to ABL Credit Facility
    December 7, 2020
    Kraton Corporation (NYSE: KRA), a leading global sustainable producer of specialty polymers and high-value biobased products derived from pine wood pulping co-products, today announced that it has entered into an amendment to its senior secured asset-based revolving credit facility ("ABL Facility"). The amendment extends the maturity date of the ABL Facility from January 2023 to December 2025 and provides for a $50 million increase in aggregate commitment to $300 million. The ABL Facility is provided by a syndicate of banks with Bank of America, N.A. as Administrative Agent, Collateral Agent and Security Trustee.
  • eCapital Commercial Finance Announces a $2 Million Factoring Facility to Hard Seltzer Provider
    December 7, 2020
    eCapital Commercial Finance (“eCapital”), a division of eCapital Corp., a leading North American alternative financing solution provider for small and medium businesses, today announced it has provided a $2 million factoring facility to a hard seltzer provider to support its increasing production demands. The beverage provider selected eCapital due to its experience in funding solutions for the alcoholic beverage industry and ability to provide fast access to working capital.
  • Luna Announces $27.5 Million Debt Financing From PNC
    December 7, 2020
    Luna Innovations Incorporated (NASDAQ: LUNA), a global leader in advanced optical technology, today announced that it has entered into an agreement for a new secured debt facility for $27.5 million. The facility is supplied by PNC Bank, National Association (an affiliate of PNC Financial Services Group, Inc. (NYSE: PNC)), one of the leading credit providers to middle market companies across the country. The new agreement includes a three-year $12.5 million term loan facility and a three-year $15.0 million revolving credit facility.
  • Provident Strengthens Retail Banking Leadership Team with Key Appointments
    December 3, 2020
    Provident Bank, a leading New Jersey-based financial institution, announced today a number of key leadership appointments following the completion of its merger with SB One Bank. The appointments leverage the talents and expertise of several executives, while creating synergies within the newly combined company.
  • Loeb Introduces a New “Line of Credit” Option
    December 3, 2020
    Loeb is pleased to add another innovative solution into their portfolio of financial services. Loeb’s “Line of Credit” option now allows clients to leverage the value of their machinery as collateral to gain financial flexibility while not being burden with P&I payments for working capital. This is a great development for clients who might not need to access to the equipment right away or only need it on a seasonal basis.
  • CIT Arranges $75 Million Credit Facility for One Call Corporation
    December 3, 2020
    CIT Group Inc. (NYSE: CIT) today announced that its Healthcare Finance group, part of the company’s Commercial Finance division, has arranged a $75 million senior secured asset-based credit facility on behalf of One Call Corporation, a leading service provider to the workers’ compensation industry. Based in Jacksonville, Florida, One Call provides ancillary services to the workers’ compensation industry by connecting injured workers with quality provider networks across a multitude of health care services.
  • Versant Funding LLC Funds a Non-recourse Factoring Facility to a Distributor of Electric Bicycles and Scooters
    December 3, 2020
    Versant Funding LLC is pleased to announce it has funded a non-recourse factoring facility to a distributor of electric bicycles and scooters which sells primarily through major e-commerce channels. The holiday shopping season makes up a substantial portion of the annual revenue for the company, and without an immediate source of additional working capital, this revenue would have been lost for 2020.
  • Flatbay Capital Provides $2.2MM CRE Loan for Commercial HVAC Company
    December 3, 2020
    Flatbay Capital LLC (“Flatbay”) (www.flatbay.com) announces the closing of a $2,200,000 commercial real estate loan (industrial/warehouse) for a North Texas HVAC, plumbing, and pipe contractor. Operating successfully in DFW for over 30 years, the business recently pursued large-scale projects in new markets that were not profitable and faced challenges collecting retaining upon completion of work. The regional bank chose to reduce its credit exposure and approached Flatbay Capital for a possible refinance.
  • CIT Serves as Sole Lender on $25 Million Revolving Credit Facility for KMS
    December 3, 2020
    CIT Group Inc. (NYSE: CIT) today announced that its Asset-Based Lending and Sponsor Finance businesses collaborated to serve as agent and sole lender on a $25 million revolving credit facility for KMS, LLC, one of the nation’s largest wholesalers of consumer product closeouts and special buys alongside its own line of KMS-sourced products. Founded in 1976 and based in Wichita, Kansas, KMS purchases excess and reconditioned goods from manufacturers and brands to sell to discount and alternative channel retailers at both the national and local level.
  • Pacific Mercantile Bank Provides $8.0 Million Credit Facility to Upstrēm, Inc.
    December 3, 2020
    Pacific Mercantile Bank (“the Bank”), the wholly owned subsidiary of Pacific Mercantile Bancorp (NASDAQ: PMBC), today announced that it has provided an $8.0 million credit facility to Upstrēm, Inc. (“Upstrēm”), a technological leader in the online reselling of surplus retail footwear and apparel stocks. In addition to the financing, Upstrēm utilizes a full suite of Pacific Mercantile Bank’s depository products and treasury management services. Upstrēm was referred to Pacific Mercantile Bank by Corbel Capital Partners, a structured debt and equity fund that recently made an investment in Upstrēm.
  • The Sterling Group Announces New Managing Director, Jenny Harris
    December 3, 2020
    The Sterling Group, a Houston-based, operationally focused middle market private equity and private credit firm, announced the addition of Jenny Harris as Managing Director of the firm's Credit Fund. Jenny brings 15 years of experience evaluating and underwriting debt capital and equity co-investments. Prior to Sterling, Jenny was a Managing Director at BNP Paribas where she led a team focused on providing leveraged credit solutions for private equity sponsors.
  • Pathlight Capital and HBC Announce $150 Million Term Loan Facility
    December 3, 2020
    Pathlight Capital LP and HBC have completed a $150,000,000 Senior Secured Term Loan Facility for the company, of which Pathlight serves as the administrative agent. HBC is a holding company of portfolio businesses operating at the intersection of retail and real estate, including a real estate and investments division, HBC Properties and Investments, and three retailers, Saks Fifth Avenue, Hudson's Bay and Saks OFF 5TH.
  • Oxford Finance Closes $44.6 Million Credit Facility with MDA Capital Group
    December 3, 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 $44.6 million senior credit facility and revolving line of credit to MDA Capital Group, LLC (“MDA” or “the Company”), a leading consulting services provider to the nursing home industry. The proceeds are being used for the acquisition of five skilled nursing facilities ("SNF") located in Vermont containing 527 licensed beds.
  • Statement Regarding Owl Rock Capital Group and Dyal Capital Partners Strategic Discussions
    December 3, 2020
    The potential combination would bring together two industry leading investment platforms that provide capital solutions to the alternative asset management industry: Owl Rock’s direct lending platform, which provides financing to middle-market companies (most of which are owned or sponsored by alternative asset managers), and Dyal, which provides capital solutions and strategic support to alternative asset managers.
  • Crystal Financial Agents $60,000 Term Loan for Southern States Cooperative
    December 3, 2020
    Crystal Financial LLC announced the closing of a $60,000,000 Senior Term Loan for Southern States Cooperative. (“Southern States” or “the Company”). Established in 1923, the Company is one of the largest cooperatives for farmers and rural homeowners. They provide a broad assortment of products, services and growing solutions to support farming communities in 21 states.
  • B&G Foods Announces Proposed Credit Agreement Refinancing
    December 2, 2020
    B&G Foods, Inc. (NYSE: BGS) announced today that it intends to refinance existing revolving loans with additional tranche B term loans under its senior secured credit facility. The Company also plans to increase the revolver capacity and extend the maturity date of its revolving credit facility. The consummation of the refinancing is subject to completion of definitive agreements as well as customary closing conditions, and is subject to market conditions. There can be no assurance that the refinancing will occur, or, if it does, as to the terms of the refinancing.
  • ControlRad® Secures Silicon Valley Bank Senior Credit Facility
    December 2, 2020
    ControlRad, Inc., a privately held medical technology company focused on dramatically reducing unnecessary radiation exposure during fluoroscopically guided procedures, announced today that it has entered into a loan and security agreement with Silicon Valley Bank providing access to up to $4 million of capital to the Company. The credit facility will be available for general working capital purposes.
  • Goodfood Announces New $46 Million Syndicated Bank Financing, Increasing Availability of Non-Dilutive Capital for Growth and Working Capital
    December 2, 2020
    Goodfood Market Corp. (“Goodfood” or “the Company”) (TSX: FOOD), a leading online grocery company in Canada, announced the closing of new bank financing totalling $46 million, including a $27.5 million revolving facility (up from $10 million), a $12.5 million term loan facility, and $6 million in additional short-term financing. The financing transaction was led by Desjardins Capital Markets with participation from Investissement Québec.
  • BDC Mergers Reduce Portfolio Risk Amid Tough Economic Backdrop
    December 2, 2020
    The growing trend of mergers among rated business development companies (BDCs) has generally improved portfolio diversification, increased first-lien exposures, built asset coverage cushions through lower leverage and should broaden funding profiles, all of which are supportive of credit, Fitch Ratings says. However, these combinations have not had an immediate impact on ratings, as any potential benefits are not expected to materially offset the continued risks and overhang of the economic fallout of the pandemic and the downside risk to overall portfolios.
  • Portage Point Bolsters Retail & Consumer Products Expertise and Establishes Los Angeles Presence with Operating Executive Tom Park
    December 2, 2020
    Portage Point Partners, LLC (Portage Point), a business advisory and interim management firm that partners with stakeholders during periods of transition, underperformance and distress, announced today that Tom Park has joined the firm as a Managing Director in Los Angeles.
  • CSE Utility Management Inc. Announces the Completion of Their Acquisition of Cricket Energy Holdings Inc.; Transaction was Financed by Third Eye Capital
    December 2, 2020
    CSE Utility Management Inc., a company controlled by Steven Muzzo, 2158815 Ontario Inc., a company controlled by Douglas Skrepnek, and certain senior management today announced the completion of their acquisition of Cricket Energy Holdings Inc. (“Cricket’), a Canadian provider of smart home energy/metering solutions and consulting services, in a transaction valued at over $200 Million. The transaction was financed by Third Eye Capital.
  • Sterling National Bank Provides $1 Million of Working Capital to 11th Hour Staffing, Inc.
    December 2, 2020
    Sterling National Bank's Commercial Services Group provided a credit line increase to their previous senior secured credit facility now totaling $1,000,000 to 11th Hour Staffing, Inc. (“11th Hour” or the “Company”). The credit facility will provide working capital to further expand and support the Company’s future projected growth.
  • White Oak Provides $1.5MM Factoring Facility to Service-Disabled Veteran Owned Business
    December 2, 2020
    White Oak Commercial Finance, LLC (“White Oak”), an affiliate of White Oak Global Advisors, LLC, announced its Government Contracting Finance arm provided a $1.5 million factoring facility to a service-disabled veteran owned 8(a) company that provides operational and technical engineering support to the US Army Cyber Command.
  • Paul Warley Joins B. Riley Advisory Services
    December 2, 2020
    B. Riley Advisory Services is pleased to announce the addition of Paul Warley to their Atlanta and Dallas offices. Warley joins the firm with over 30 years of experience in restructuring & bankruptcy matters, lender communications, interim management, and investment banking.
  • Tiger Group Online Auction Features Southern California Steel Fabrication Facility and Related Assets
    December 2, 2020
    Tiger Group is now accepting bids for a Dec. 10 online auction of a steel fabrication facility in South Gate, California that was formerly operated by Metal Supply, Inc. The auction features a beam line, plasma cutter, welders, material handling equipment, crane, vehicles, support equipment and other high-utility assets of interest to businesses in a wide array of sectors.
  • CIBC Innovation Banking Provides EZ Texting with a US$13 Million Growth Capital Financing
    December 2, 2020
    CIBC Innovation Banking is pleased to announce a US$13 million growth capital financing for Santa Monica-based EZ Texting, a cloud-based platform that enables small and medium sized businesses to confidently grow and keep their customers through their innovative messaging platform. EZ Texting plans to utilize this capital to continue building new product features that will bolster its platform and grow its go-to-market teams.
  • AlixPartners’ Lisa Donahue Honored With Harvey R. Miller Outstanding Achievement for Service in Restructuring
    December 2, 2020
    AlixPartners, the global consulting firm, announced today that Lisa Donahue, Joint Global Head of Turnaround & Restructuring Services (TRS), has received the Harvey R. Miller Outstanding Achievement Award for service to the restructuring industry. The award, sponsored by law and business publisher The Beard Group, annually recognizes leaders in the turnaround and restructuring business who have had stellar careers and pivotal roles in the biggest deals. Lisa is the first woman to receive the award in its 20-year history.
  • Oxford Finance Closes $60 Million Credit Facility with RxSight
    December 2, 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 $60 million senior secured term loan with RxSight, Inc. (“RxSight” or “the Company”), a privately-held, medical technology company that has commercialized the world’s first and only FDA-approved adjustable intraocular lens (“IOL”) that is customized after cataract surgery. The funds will be used for general working capital, including sales and marketing, and research and development.
  • Fifth Third Bank Names Executive Vice President Kala Gibson Chief Enterprise Corporate Responsibility Officer & Head of Business Banking
    December 2, 2020
    Fifth Third Bank, National Association today announced that Executive Vice President Kala Gibson has been named chief enterprise corporate responsibility officer & head of Business Banking. His role is expanding to include responsibility for Community and Economic Development.
  • Callodine Commercial Finance Makes First Investment on New Platform
    December 2, 2020
    Callodine Commercial Finance (“CCF”) recently provided CAD $20 million of financing to support Kingswood Capital Management’s acquisition of MEC, an established retailer, and Canada's go-to place for outdoor gear, know-how, and inspiration. This represents the inaugural transaction completed by CCF on the team’s new platform, after being acquired by Callodine Group.
  • BNY Mellon High Yield Strategies Fund Announces Change in Leverage Providers
    December 1, 2020
    BNY Mellon High Yield Strategies Fund (NYSE: DHF) (the “Fund”) today announced entry into a new credit facility of up to $125 million with BNP Paribas Prime Brokerage International Limited. The new credit facility replaces the credit facility with the Fund's previous credit facility provider. The credit facility is evergreen, subject to standard notice and termination provisions, and is secured by the Fund’s investments. Borrowings under the new credit facility are at an interest rate of 1-month LIBOR + 90 basis points.
  • Gibraltar Delivers $130.5MM in New Commitments Through Pandemic
    December 1, 2020
    In the nine months since COVID-19 was declared a pandemic, Gibraltar Business Capital has remained committed to providing access to flexible, reliable and fast capital — closing 12 transactions and $130.5 million in new commitments. Credit facilities ranged from $4MM to $20MM and were utilized to support refinances, growth, acquisitions, and recapitalizations. The growth in individual facility sizes reflects Gibraltar’s continued, successful shift upstream towards supporting companies with increased liquidity and working capital needs.
  • B. Riley Financial, Inc. and 180 Degree Capital Corp. Commence Process to Seek Significant Changes to Maven’s Board of Directors
    December 1, 2020
    B. Riley Financial, Inc. (“B. Riley”) and 180 Degree Capital Corp. (“180”) today announced that they are taking the steps required to seek significant changes to the composition of the Board of Directors (the “Board”) of Maven (the “Company”). B. Riley and 180 also today expressed their utmost confidence and support for the Company’s management and employees. Last week, B. Riley and 180 sent a letter to the Board requesting the immediate resignation of five of its members. In the letter, B. Riley and 180 noted that in the absence of such resignations, they would file a consent solicitation statement with the Securities and Exchange Commission (“SEC”) to seek consents from holders of at least a majority of the voting power of MVEN securities entitled to vote to remove such directors.
  • Tiger Group Online Auction Features Late-Model Equipment from CBD and Cannabis Manufacturer
    December 1, 2020
    The auction features well-maintained equipment, including: • 2017 Agilent lntuvo 9000 Gas Chromatography System, complete with 7697A Headspace Sampler • 2017 Agilent Ultivo Triple Quadrupole LC/MS System • 2018 Tuttnaur Autoclave, Model EZ11-Plus • Laminar Flow Station • 2017 Waters Preparatory System, Model SFC 350
  • CIT Provides $38 Million Financing for Florida Apartment Complex
    December 1, 2020
    CIT Group Inc. (NYSE: CIT) today announced that its Real Estate Finance business provided a $38 million senior secured loan toward the acquisition of an apartment complex in Winter Park, Florida. The property, owned by Phoenix Realty Group (“PRG”) and its investors and affiliated entities, is known as Lakeside at Winter Park and consists of 288 units of garden style apartments on more than 26 acres with amenities including a pool, fitness center, clubhouse and tennis, basketball and volleyball courts. The financing was used for the acquisition and to continue ongoing renovations and improvements at the complex.
  • Wingspire Capital Adds Managing Director & National Head of Underwriting
    December 1, 2020
    Wingspire Capital (“Wingspire”) announced that Allison Adornato has joined as Managing Director and National Head of Underwriting. Ms. Adornato will oversee the underwriting of Wingspire’s asset-based lending (“ABL”) products, which range from $20 million to $200 million in transaction size and include revolving lines of credit, fixed asset term loans and cash flow stretch term loans.
  • Hedaya Capital Group Announces a $2,500,000 Factoring Facility for a Luxury Cashmere and Knitwear Company
    December 1, 2020
    The Hedaya Capital Group, Inc. is pleased to announce a $2,500,000 Factoring Facility for a luxury cashmere and knitwear brand. Hedaya was approached by a turnaround consultant when the company’s turnaround was already well underway. Hedaya Capital worked diligently with the CFO and their management consultant to finalize the transaction, takeover the client, and put the company on steady footing for growth. In addition to factoring, Hedaya is issuing letters of credit to the company’s main supplier to secure and facilitate the import of inventory for sale.
  • ConnectOne Bancorp, Inc. Strengthens Executive Leadership Through Key Appointments
    December 1, 2020
    ConnectOne Bancorp, Inc. (Nasdaq: CNOB) (the “Company” or “ConnectOne”), parent company of ConnectOne Bank (the “Bank”), today announced three key appointments at the Bank level. Elizabeth Magennis has been elevated to President, Michael O’Malley has been hired as Executive Vice President and Chief Risk Officer, and Siya Vansia has been named Senior Vice President and Chief Brand and Innovation Officer.
  • Bridge Bank Extends $25,000,000 Credit Facility to Health-Ade
    December 1, 2020
    Bridge Bank today announced it has extended a $25,000,000 credit facility to Health-Ade. Founded in 2012 and based in Los Angeles, Health-Ade is an organic beverage company, selling its beverages in more than 35,000 retailers nationwide, including Whole Foods, Target and Publix. The new credit facility will be used to support growth and expansion initiatives.
  • InterNex Capital Provides $1,500,000 Line of Credit
    December 1, 2020
    InterNex Capital has provided a $1,500,000 Line of Credit (VelocityLOC) to a Maryland company who helps organizations bring drug treatments to the market through health research services.
  • Gordon Brothers Shareholders Donate $1 Million to Global COVID-19 Emergency Relief Fund
    December 1, 2020
    In the spirit of Giving Tuesday, Gordon Brothers, the global advisory, restructuring and investment firm, has announced the firm’s shareholders completed $1 million in donations to charities supporting communities across the globe impacted by COVID-19. The shareholders collaborated with Gordon Brothers employees to establish the $1 million COVID-19 Emergency Relief Fund in March and have together carefully selected over 60 philanthropic organizations working to better the lives of people challenged medically and financially by the pandemic.
  • Clearlake Capital to Acquire Dimora Brands from The Jordan Co.
    November 30, 2020
    Clearlake Capital Group LP agreed to buy Dallas-based Dimora Brands Inc., or TKE Holdings Inc., from middle-market private equity firm The Jordan Co. LP for an undisclosed amount. Dimora provides high-end specialty hardware and home accessories. Baird served as financial adviser and Winston & Strawn LLP acted as legal counsel to Dimora. Nomura Securities Co. acted as an adviser to Dimora's board of directors.
  • Jacobs Engineering to Acquire Majority Stake in PA Consulting
    November 30, 2020
    Jacobs will also provide debt financing to PA through a 650 million euros term loan and a revolving credit facility of up to 100 million euros. It intends to fund the acquisition through a combination of cash-on-hand and existing and incremental debt facilities.
  • Hertz Global Holdings Announces Asset Purchase Agreement With Athene Holding For The Sale Of Donlen Corporation
    November 30, 2020
    Hertz Global Holdings, Inc. (OTCPK: HTZGQ) today announced that it has entered into a stock and asset purchase agreement to sell substantially all of the assets of its wholly-owned subsidiary, Donlen Corporation ("Donlen"), a fleet management leader, to Athene Holding Ltd. ("Athene") (NYSE: ATH), a leading financial services company, for an anticipated cash payment of $825 million subject to adjustments for fleet equity, working capital and assumed debt. Hertz anticipates that these adjustments will result in a purchase price at closing of at least $875 million. White & Case LLP is serving as Hertz's legal advisor, Moelis & Co. is serving as investment banker, and FTI Consulting is serving as Hertz's financial advisor.
  • Stampede Drilling Inc. Announces $2 Million Secured Credit Facility, Amendment to its Existing Credit Facility with HSBC
    November 30, 2020
    Stampede Drilling Inc. is pleased to announce the closing of a loan facility in an amount of up to $2 million pursuant to a letter of offer dated October 28, 2020 with the Business Development of Canada ("BDC"). BDC, HSBC Bank Canada ("HSBC") and the Company have also entered into a priority agreement, whereby the BDC Security Interest is postponed and subordinated to the security interests held by HSBC in the personal property of the Company in connection with the facility letter dated December 20, 2018 from HSBC to the Company, as acknowledged and agreed to by the Company on December 20, 2018.
  • C.K. McWhorter CEO of CTRL USA Announces $5B Private Equity-Value Add Fund
    November 30, 2020
    CTRL USA has launched a new global fund, seeking to raise at least $3.5 billion for its second private equity-value add fund focused on commercial real estate acquisitions and development. The U.S. private investment company has begun marketing the new vehicle to prospective global investors, i.e., United Arab Emirates, Asia & etc. It’s targeting more than double the size of its first private equity buyout fund, which closed at about $300 million in 2019.
  • White Oak Provides $5MM Receivables Financing Facility to Telecom Services Company
    November 30, 2020
    White Oak Commercial Finance, LLC (“White Oak”), an affiliate of White Oak Global Advisors, LLC, announced it provided a $5 million receivables financing facility to a telecommunications and electrical contracting company that provides integrated voice and data cabling infrastructure solutions nationwide.
  • Celtic Capital Corporation Provides $2.5 Million to a California-based Manufacturer of High-volume, Low-speed Industrial Ceiling Fans
    November 30, 2020
    Celtic Capital Corporation today announced its most recent new client relationship – a California-based manufacturer of high-volume, low-speed industrial ceiling fans. This 13-year old family-owned business was asked by its bank to seek alternative financing due to loan covenant violations.
  • J D Factors Announces Factoring Facilities
    November 30, 2020
    J D Factors announced it provided the following factoring facilities: $150,000 to a transportation company in Ontario; $100,000 to a transportation company in Alberta; $1,000,000 to a transportation company in Illinois; $75,000 to a transportation company in Ontario.
  • Northwest Hardwoods Files Chapter 11 to Implement Consensual Comprehensive Restructuring
    November 30, 2020
    NWH is represented by Gibson, Dunn & Crutcher LLP and Young Conaway Stargatt & Taylor, LLP as legal co-counsels and Huron Consulting Group as financial advisor. The secured noteholders are represented by Willkie Farr & Gallagher LLP as legal counsel and Guggenheim Securities, LLC as financial advisor. This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities.
  • Sallyport Commercial Finance Announces a $5.0M Credit Facility for an Established Apparel Company
    November 30, 2020
    Sallyport Commercial Finance provides timely financing to an apparel company that was hit hard when major retailers started to cancel orders due to the COVID pandemic. This new credit facility coupled with a seasonal inventory lender will provide the needed working capital to continue their exceptional service and help grow market share.
  • JCPenney Restructuring Plan to Create PropCos Confirmed by Court
    November 30, 2020
    J. C. Penney Company, Inc. (OTCMKTS: JCPNQ) today announced that the U.S. Bankruptcy Court for the Southern District of Texas (the “Court”) has confirmed the Company’s Plan of Reorganization (the “Plan”) to create separate property holding companies (“PropCos”) comprising 160 of the Company’s real estate assets and all of its owned distribution centers, which will be owned and operated by JCPenney’s DIP and First Lien Lenders. The PropCos are expected to complete the Court-supervised restructuring process and emerge from Chapter 11 bankruptcy protection in the first half of 2021.
  • Hunter Street Partners Increases Capital Commitment to Leading Telecommunications Services Company
    November 30, 2020
    Hunter Street Partners ("Hunter Street"), a Minneapolis-based alternative investment management firm, and Five Crowns Credit Partners ("Five Crowns"), are increasing their capital commitment to TriStruX, a leading wireless infrastructure and telecommunication service provider in the Northeast, to finance the acquisition of High Point Utilities ("High Point"), a regional broadband network construction and maintenance company.
  • Quantum Health Announces Growth Investment from Warburg Pincus and Great Hill Partners
    November 30, 2020
    Quantum Health, the industry-leading consumer healthcare navigation and care coordination company, announced today a significant investment from Warburg Pincus, a leading global private equity firm focused on growth investing. Great Hill Partners, which invested in Quantum Health in 2017 and is the company's current majority shareholder, will retain a significant stake. This investment will further accelerate Quantum Health's investment in its technology platform and service delivery capabilities, as the company continues to provide high quality services to its growing customer base of self-insured employers.
  • Credit Fund Managers Pause Implementation of New Investment Strategies Due to COVID-19, According to Ropes & Gray Research
    November 30, 2020
    New report provides insights on how credit fund managers are navigating economic upheaval and uncertain market conditions brought about by COVID-19
  • Mercuria Closes Oversubscribed Revolving Credit Facility of $720,000,000 In Financing for its Asian Business
    November 30, 2020
    The Facilities were arranged by Bank of China Limited, Singapore Branch, Coöperatieve Rabobank U.A. Singapore Branch, DBS Bank Ltd., Emirates NBD Capital Limited, Emirates NBD Bank (P.J.S.C), Singapore Branch, Industrial and Commercial Bank of China Limited, London Branch, ING Bank N.V. Singapore Branch, Mizuho Bank, Ltd., MUFG Bank, Ltd., Oversea-Chinese Banking Corporation Limited, Société Générale, Hong Kong Branch, and Sumitomo Mitsui Banking Corporation Singapore Branch, acting as Bookrunning Mandated Lead Arrangers ("BMLAs").
  • Digerati Technologies, Inc. Closes $20 Million Credit Facility with Post Road Group
    November 30, 2020
    Digerati Technologies, Inc. (OTCQB: DTGI) ("Digerati" or the "Company"), a provider of cloud services specializing in UCaaS (Unified Communications as a Service) solutions for the small to medium-sized business (“SMB”) market, announced today that its operating subsidiary, T3 Communications, Inc. (“T3”), has closed a $20 million senior secured credit facility (the “Facility”) with Connecticut-based Post Road Group. The Facility enables continued expansion of Digerati’s U.S. operations through organic growth efforts and targeted acquisitions.
  • Kredivo Closes Up to $100 Million Warehouse Financing Facility with Victory Park Capital to Boost Indonesian Expansion
    November 30, 2020
    Kredivo, the leading digital credit platform for retail borrowers across Indonesia, and Victory Park Capital Advisors, LLC (“VPC”), a leading private credit specialist headquartered in Chicago, announced today the closing of a committed debt facility of up to US$100 million to fund consumer loans for Kredivo’s borrowers in Indonesia. The deal marks major milestones for both firms: for Kredivo, it is the largest deal in its history with a credit provider and also represents one of the largest ever credit lines secured by any digital credit platform in the region; for VPC, this represents their first transaction in Southeast Asia and Indonesia overall.
  • Feronia Inc. Announces Closing of Restructuring Transaction
    November 24, 2020
    Feronia Inc. (“Feronia” or the “Company”) (TSX-V: FRN) announces that it has closed its previously announced third party sale and restructuring transaction. As previously reported, the Company initiated debtor in possession insolvency proceedings under the Bankruptcy and Insolvency Act (Canada)(the “BIA”) on July 23, 2020 (the “NOI Proceedings”).
  • Vesper Energy Secures Letter of Credit Facility for up to $100 Million
    November 24, 2020
    Vesper Energy – a leading developer, owner and operator of utility-scale renewable energy assets – announced it closed a new letter of credit (LC) facility with Macquarie Group ("Macquarie") for up to $100 million. The LC facility will empower Vesper Energy to fast-track the development of its current 3 GW solar and 2.5 GWh energy storage pipeline in North America. The company will use the LC facility to cost-effectively post securities for power purchase agreements (PPAs) and interconnection agreements with energy transmission networks like PJM, CAISO and ERCOT.
  • U.S. Term Loan Defaults Set for Lowest Monthly Tally Since August
    November 24, 2020
    U.S. institutional term loan defaults are on pace for the lowest monthly total since this summer, according to Fitch Ratings in a new report. After jumping to $6.3 billion of defaults in October, November stands at $0.2 billion thus far and could best August ($2.2 billion) for the lowest monthly total this year. "Both the TTM and YTD default rates are at 4.3% and should end the year around 4.7%. This is in line with our initial coronavirus pandemic-revised 5%-6% forecast provided in March and tightened to 5% in early October," said Senior Director Eric Rosenthal of Leveraged Finance.
  • BroadPeak Global LP, a New Industrials, Materials and Chemicals Private Equity Firm, Debuts
    November 24, 2020
    Mr. Stephen Toy, previously Founding Member and Co-Head of WL Ross & Co. LLC and Global Head of Private Equity at Invesco Private Capital; and Mr. Nadim Qureshi, previously Managing Partner and Head of Industrials and Chemicals at WL Ross & Co. LLC and Invesco Private Capital; have formed BroadPeak Global LP, an independent private equity firm dedicated to opportunistic buyouts and special situations transactions in the global industrials, materials and chemicals sectors. The two co-founders are joined by Mr. Geoffrey Lim and Ms. Jackie Zheng, both former senior investment professionals at Invesco Private Capital, and Mr. Ademola Adewale-Sadik.
  • Prestige Capital Announces $2.0 Million for a Reverse Logistics Company
    November 24, 2020
    Prestige Capital Finance, LLC recently delivered a $2.0 million factoring facility to a reverse logistics company that specializes in managing excess inventory on behalf of its retail clients. The company helps retailers sort clearance merchandise and retag and repackage past-season, factory-excess and customer returns.
  • Stonebriar Commercial Finance Supports Jones Act Maritime Industry
    November 24, 2020
    Stonebriar Commercial Finance (“Stonebriar”), a leading independent large-ticket commercial finance company, announced today it has funded YTD and is currently projected to fund through 2021, with more than $355 million secured by Jones Act-compliant marine vessels, including tugs, barges, tankers, and container ships.
  • Thanksgiving Message to the SFNet Community
    November 24, 2020
    As we wind down what has been a truly historic event for the Secured Finance Network, our first ever fully virtual Annual Convention, I’d like to share some thoughts on the experience, what I am thankful for, and where we go from here.
  • eCapital Corp. Names Kash Ahmad Executive Vice President, Chief Credit Officer for eCapital Commercial Finance
    November 23, 2020
    eCapital Corp. (“eCapital”), a leading alternative finance provider in North America, has named Kash Ahmad executive vice president and chief credit officer of its Commercial Finance division. Ahmad will report to Tony Howard, eCapital Corp.’s chief credit and portfolio officer, and lead a team of underwriters and credit specialists to manage credit, risk and compliance, and support the growth of the Commercial Finance business.
  • Blackboxstocks Closes $1 Million in Debt Financing from Feenix Venture Partners
    November 23, 2020
    Blackboxstocks Inc. (OTC PINK: BLBX) (“Blackbox”), a financial technology and social media hybrid platform offering real-time proprietary analytics for stock and options traders of all levels, today announced that it has closed $1.0 million senior secured loan from Feenix Venture Partners.
  • OceanFirst Bank Announces Appointment of Joseph J. Lebel III as President
    November 23, 2020
    OceanFirst Financial Corp. (NASDAQ:OCFC) announces the Board of Directors has appointed Joseph J. Lebel III as President of its OceanFirst Bank N.A. (the “Bank”) subsidiary, effective January 1, 2021. Mr. Lebel will assume the responsibilities of President from Christopher D. Maher, who will remain Chairman of the Board and Chief Executive Officer of the Company and the Bank. Mr. Lebel has also been appointed to the Bank’s Board of Directors, also effective January 1, 2021.
  • Sumeru Equity Partners Closes on $720 Million Private Equity Fund
    November 23, 2020
    Sixpoint Partners, a leading global investment bank serving the middle-market, is pleased to announce the successful closing of Sumeru Equity Fund III, L.P. (the “Fund” or “Fund III”) with $720 million of total capital commitments. The Fund was significantly oversubscribed above its initial target of $600 million and nearly doubled the size of its predecessor vehicle.
  • XS Financial Obtains Revolving Credit Facility to Support Continued Growth of Its Leasing Portfolio
    November 23, 2020
    XS Financial Inc. ("XS Financial", "XSF" or the "Company") (CSE:XSF)(OTCQB:XSHLF), a specialty finance company providing equipment leasing solutions to cannabis and hemp companies in the United States, announced today that it has successfully closed a US$2 million senior secured revolving credit facility, with an FDIC insured bank, which has a term of two (2) years, expiring in November 2022
  • iQor Emerges from Chapter 11 Process, Successfully Completes Financial Restructuring
    November 23, 2020
    iQor ("the Company"), a managed services provider of customer engagement and technology-enabled BPO solutions, announced today that the Company and each of its U.S. subsidiaries have emerged from Chapter 11 bankruptcy, signaling the completion of the financial restructuring process. The Company’s Pre-Packaged Plan of Reorganization was confirmed by the United States Bankruptcy Court for the Southern District of Texas on October 14, 2020.
  • BioRestorative Therapies Emerges from Chapter 11 Reorganization
    November 23, 2020
    BioRestorative Therapies, Inc. (“BioRestorative” or the “Company”) (OTC: BRTX), a life sciences company focused on stem cell-based therapies, announced today that its amended joint plan of reorganization has become effective and it has emerged from Chapter 11 reorganization. Pursuant to the confirmed plan of reorganization, the Company has received $3,848,000 in financing. The confirmed plan of reorganization also provides for additional funding, subject to certain conditions, of $3,500,000 less the sum of the debtor-in-possession financing provided to the Company during the reorganization (approximately $1,227,000) and the costs incurred by the debtor-in-possession lender.
  • John Church Joins Seacoast Business Funding
    November 23, 2020
    Seacoast Business Funding is pleased to announce the addition of John Church, as VP Business Development Officer. Mr. Church is based on the West Coast and will focus on cultivating and growing the Seacoast portfolio in the region. He brings over twenty years of experience in solving complex financial challenges for businesses within the alternative lending space.
  • Verona Pharma Secures up to $30 Million Debt Financing from Silicon Valley Bank
    November 23, 2020
    Verona Pharma plc (Nasdaq: VRNA) (“Verona Pharma” or the “Company”), a clinical-stage biopharmaceutical company focused on respiratory diseases, announces that it has entered into a debt financing facility for up to $30 million (“debt facility”) with Silicon Valley Bank (“SVB”). The non-dilutive capital provides further financial flexibility to support pre-commercialization activities for ensifentrine, the Company’s first-in-class product candidate, which is currently in Phase 3 trials.
  • A&G Delivers $1.7 Billion in Occupancy-Cost Savings for Clients in First 9 Mos. of 2020
    November 23, 2020
    A&G Real Estate Partners (A&G) today announced record results for the first nine months of 2020—efforts that resulted in a total of $1.68 billion in occupancy-cost reductions for 51 retailers, restaurants, educational users, office tenants and fitness and entertainment operators.
  • Citizens Advises Findley, Inc. on its Sale to USI Insurance Services
    November 23, 2020
    Citizens M&A Advisory advised Findley, Inc. on its sale to USI Insurance Services, LLC. A leading human resources and employee benefits consulting firm, Findley provides actuarial, benefits and administrative consulting services to private and publicly-held companies, the public sector and non-profit organizations. Findley employs more than 250 associates, serving clients across the country from seven office locations in the Midwest and Southeast.
  • CVC Credit Partners Becomes Sole Underwriter to Nurse Plus
    November 23, 2020
    CVC Credit Partners (CVC Credit) has provided a GBP37.5 million first lien credit facility to Nurse Plus, a healthcare services business backed by Sovereign Capital Partners. The new funding has been fully underwritten by CVC Credit and will be used to refinance the company’s existing debt facility and to support the business’s ongoing growth strategy
  • Tiger Group Sets Auctions for Remaining Inventory From Major Distributor Of Disposable and Durable Medical Supplies on Dec. 2 and Dec. 16
    November 23, 2020
    In the wake of several private treaty bulk sales and an initial single-facility auction, Tiger Group will be conducting online auctions in December for the remaining $7 million in inventories plus other assets from two East Coast facilities operated by American Medical Depot (AMD), a major distributor of medical equipment and supplies that is now winding down its business.
  • Espresso Capital Extends $7.5 Million Credit Facility to Zype
    November 23, 2020
    Espresso Capital announced today that it has provided Zype, a leader in video content management and distribution software, with a $7.5 million credit facility. The company will use the funds to accelerate its go-to-market strategy as it looks to grow its business and meet key corporate goals.
  • U.S. Retailer Guitar Center Files for Bankruptcy
    November 23, 2020
    Guitar Center Inc, the largest U.S. retailer of music instruments and equipment, filed for Chapter 11 bankruptcy on Saturday, as music lovers moved their shopping online during the coronavirus pandemic. Milbank LLP served as legal counsel, BRG served as restructuring advisor, and Houlihan Lokey was financial advisor to the company.
  • Heavy Haul Transportation Company in Texas Chooses TAB Bank for a $3.5 Million Revolving Credit Facility
    November 23, 2020
    A heavy haul transportation company in Texas has chosen TAB Bank for a $3.5 million asset-based revolving credit facility. The new facility is extended through a multi-year agreement and will provide the means to fund growth for the company. The company specializes in hauling large cranes and excavation equipment.
  • Brightwood Capital Announces Return of William W. Archer as Chief Credit Officer
    November 23, 2020
    Brightwood Capital Advisors, a leading private credit firm, today announced the appointment of William W. Archer as Chief Credit Officer, a position he previously held from 2013 to 2015. In this role, he will oversee Brightwood's existing portfolio, as well as play an important role in the firm's analysis of new investments. Mr. Archer brings more than 40 years of credit experience to the team and will be based in New York.
  • Pike Street Capital Closes $237 Million Inaugural Fund with a Focus on Industrial Technology Businesses in the Lower Middle Market
    November 23, 2020
    Pike Street Capital, LLC, (“Pike Street”), a Seattle-based private equity firm, has announced the closing of Pike Street Capital Partners (the “Fund”), a $237 million fund that will focus on control investments in industrial technology businesses. Fund investors include leading institutional limited partners, such as endowments, insurance companies, fund of funds, and family offices along with strategic operating executives. The Fund was over-subscribed to its original $200 million target.
  • Leading Industry Veterans and Innovators in Alternative Credit Investing Announce the Launch of Sycamore Tree Capital Partners
    November 23, 2020
    Mark Okada, Jack Yang and Trey Parker, industry veterans and innovators in alternative credit investing, today announced the launch of Sycamore Tree Capital Partners (Sycamore Tree) – an asset manager specializing in private and alternative credit. Mark Okada will serve as Chief Executive Officer, Jack Yang will serve as President and Head of Business Development, and Trey Parker will serve as Chief Investment Officer. John Muse and Ken Hersh are strategic investors in the firm’s initial fund launches and will also serve on the management company advisory board to help shape long-term strategy.
  • Teresa C. Kohl, Managing Director of SSG Capital Advisors, to be Inducted as a Fellow in the American College of Bankruptcy
    November 23, 2020
    SSG Capital Advisors is pleased to announce that Teresa C. Kohl will be inducted as a Fellow in the 32nd Class of the American College of Bankruptcy. Kohl is one of 37 new Fellows, insolvency professionals who are being honored and recognized for their professional excellence and their exceptional contributions to the bankruptcy and insolvency practice. The Induction Ceremony will be held on Friday, March 19, 2021, in Washington, D.C.
  • Houlihan Lokey Adds Experienced Tax Advisor to Its Financial and Valuation Advisory Business
    November 23, 2020
    Houlihan Lokey, Inc. (NYSE:HLI), the global investment bank, today announced that Tom Goldrick has joined the firm’s Transaction Advisory Services practice as a Managing Director and Head of M&A Tax Services. He is based in Chicago.
  • Canadian Mall Owners Could Buy Key Tenants in the Months Ahead, Says Tiger Group Executive
    November 23, 2020
    Landlords need to keep the doors open at important stores—and avoid triggering escape clauses in other retailers’ leases, advises Bradley W. Snyder in webinar from Insolvency Insider.
  • Rosenthal’s West Coast Office Closes $6 Million Asset-Based Loan Facility for California-based Pawn Business
    November 23, 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 $6 million asset based lending deal for a family-owned pawn business and jewelry, metal and accessories retailer.
  • Gibraltar Provides Quick Path to $5.5MM Working Capital Financing
    November 23, 2020
    Timeliness was vital for Spokane Industries, an international manufacturer with a nearly 60-year history. As a second-generation, family-owned and operated company, Spokane Industries sought a financing partner that understood their distinct growth needs, could move fast, and offer greater liquidity.
  • J D Factors Announces Factoring Facilities
    November 23, 2020
    J D Factors announced it provided the following factoring facilities: $150,000 to a transportation company in Illinois; $250,000 to a transportation company in Alberta; $400,000 to a transportation company in Illinois; $200,000 to a transportation company in Texas...
  • Mnuchin Letter to Powell on Facilities
    November 19, 2020
    In the attached letter to the Federal Reserve, Treasury Secretary Steven Mnuchin declined to extend programs established under the CARES Act, including the Main Street Lending Program. Mnuchin also asks Chairman Jerome Powell for the return $455 billion in unused funds to the Treasury. The programs are set to expire on December 31, 2020.
  • FTS International Completes Financial Restructuring, Enters Into a new $40 Million Asset-based Revolving Credit Facility with Wells Fargo Bank, N.A.
    November 19, 2020
    FTS International, Inc. (NYSE American: FTSI) (“FTSI” or the “Company”) today announced that it has successfully completed its fully consensual financial restructuring and has emerged from Chapter 11. Upon emergence, FTSI expects to have approximately $90 million cash on hand and has entered into a new $40 million asset-based revolving credit facility with Wells Fargo Bank, N.A., as administrative agent and lender, to support working capital needs.
  • Liberty Commercial Finance Announces New Senior Lending Facility with Texas Capital Bank
    November 19, 2020
    Liberty Commercial Finance, a leading independent equipment lease and finance company, announced today that it has closed a new senior lending facility with Texas Capital Bank to further expand its direct funding capabilities. This new facility comes shortly after Copley Equity Partners’ previously announced equity investment in Liberty. The size of the facility was not disclosed.
  • Oakworth Capital Bank Adds Glenn Shorey to Middle Tennessee Team
    November 19, 2020
    Oakworth Capital Bank recently added Glenn Shorey as Managing Director, Commercial Banking for the Middle Tennessee market. "Glenn's extensive commercial banking experience and client focused approach is perfectly in line with Oakworth's strategy to serve the Middle Tennessee market with quality associates who are dedicated to our clients." said Greer Redden, Market Leader.
  • Encina Business Credit Provides $80 Million Revolving Credit Facility to Provider of Business Process Services
    November 19, 2020
    Encina Business Credit, LLC announced today that it has provided an $80 million senior secured revolving credit facility to a leading global provider of Business Process Services. The senior secured revolving line of credit, which is collateralized by accounts receivable, was used to finance ongoing working capital financing.
  • Tech Capital, LLC Provides $10 Million Asset-Based Line of Credit to Taronis Fuels, Inc.
    November 19, 2020
    Tech Capital, LLC, the asset-based finance company and wholly owned subsidiary of Tech CU, announced today it has provided a $10 million asset-based revolving line of credit to Taronis Fuels, Inc., a publicly traded company based in Peoria, Arizona and a global producer of renewable and socially responsible fuels. The loan will support Taronis Fuels’ expansion and development. The loan represents Tech Capital’s continued focus on providing innovative, customer-centered solutions to growing companies across the United States and is one of Tech Capital’s largest loans to date.
  • Middle Market Stays Confident About Recovery Ahead
    November 19, 2020
    U.S. middle market business sentiment remained rock solid in October. The proprietary RSM US Middle Market Business Index eased modestly to 127.5 from 127.8 in September. For the most part, readings on the economy, revenues, net earnings and hiring remained essentially unchanged as the economy continued to emerge from the early-year recession. While it is clear that business leaders do not expect a V-shaped recovery, they do see an improvement in business conditions through the early part of 2021.
  • Loeb Leverages Over $12M in Equipment to Finance 7 Seven New Clients' Businesses Run the Gamut from Mining to Gear Manufacturing, Transportation to an Ethnic Food Company
    November 19, 2020
    These winning solutions are all covenant-free for businesses in the following industries: $5M to a gear manufacturer; $4M to a construction company in Canada; $1M line of credit to a mining operation; $1M to a chemical packager; $500,000 transportation firm in the Midwest; $500,000 to an ethnic food Co and $500,000 to a foundry in Canada
  • SFNet Requests Feedback on CFPB 1071
    November 19, 2020
  • Crestmark Provides More Than $23.1 Million in Commercial Financing to 11 Businesses in the First Half of November
    November 18, 2020
    Crestmark secured a total of $6,050,000 in ABL financial solutions for five new clients; Crestmark Equipment Finance provided $4,371,057 in three new lease transactions; the Government Guaranteed Lending group provided $12,722,000 in financing for three new clients in the first half of November.
  • Republic Provides a $3.75m Line of Credit Facility for a Plastics Manufacturing Company
    November 18, 2020
    Republic Business Credit provided a $3,750,000 ledgered line of credit facility secured by accounts receivables and inventory that injected significant acquisition and growth working capital into its war chest. Republic was introduced to the opportunity from an investment bank that was advising the company on a strategic basis to raise debt and potentially equity in the future.
  • EPSG Extends and Expands Revolving Credit Facility with People’s United Bank
    November 18, 2020
    EPSG, a leading integrator of payment technology solutions, announced today that it has extended and significantly expanded its existing revolving credit facility (“The Credit Facility”) with People’s United Bank (“People’s United”), N.A., a subsidiary of People’s United Financial, Inc. (NASDAQ: PBCT).
  • Cerebro Capital: New Survey Examines $1 Trillion Non-Bank Commercial Lending Market
    November 18, 2020
    Cerebro Capital, a commercial loan platform, today released its new quarterly survey on non-bank lending for middle-market commercial and industrial (C&I) loans. The results illustrate the perspectives of private credit lenders, also known as alternative lenders, or non-bank lending institutions.
  • Gannett Announces Refinancing of Approximately $500 Million of Debt
    November 18, 2020
    Gannett Co., Inc. ("Gannett", "we", "us", "our", or the “Company") (NYSE: GCI) today announced that it has refinanced approximately $500 million of its 11.5% term loan, maturing in 2024, with 6.0% convertible notes due in 2027. The refinancing reduces the outstanding term loan to $1.118 billion. The refinancing was unanimously approved by the Company’s Board of Directors. The Company was advised by Greenhill & Co., LLC and Cravath, Swaine & Moore LLP.
  • Surge Energy Inc. Announces Closing of $40 Million, 4 Year BDC Term Facility; Confirms Extension of Credit Facility Maturity to December 31, 2021; Receipt of $50.6 Million EDC Credit Facility Commitment
    November 18, 2020
    Surge Energy Inc. ("Surge" or the "Company") (TSX: SGY) is pleased to announce that it has executed definitive agreements with the Business Development Bank of Canada ("BDC"), in partnership with the Company's syndicate of lenders (the "Syndicate"), for a non-revolving facility of $40 million, providing attractive interest rates over a four year term (the "Term Facility").
  • Access Point Financial Secures $8.85 Million To Refinance the Grand Rapids’ Delta Hotel by Marriott
    November 18, 2020
    Access Point Financial, LLC (APF), a leading direct lender and specialty finance company focused exclusively on the hospitality industry, today announced the completion of an agreement with Lodging Opportunity Fund REIT to refinance the Delta by Marriott in Grand Rapids, Michigan.
  • Pathlight Capital Agents $180m Senior Secured Credit Facility For Christmas Tree Shops Acquisition
    November 18, 2020
    Pathlight Capital LP ("Pathlight") announced it is serving as the Administrative Agent on the recently funded $180 million Senior Secured Credit Facility for Christmas Tree Shops ("CTS" or the "Company"), a brick-and-mortar discount retailer with a focus on seasonal products at a value price point.
  • Monroe Capital Announced it Provided $450 Million to Over 20 Women and Minority-Owned Businesses
    November 18, 2020
    Ted Koenig, President & CEO of Monroe Capital, commented, “We wanted to make known our commitment to financing quality women and minority-owned or managed businesses. We have been consistent in our efforts to deploy capital to these businesses over the years. Not only is it the right thing to do from a community perspective, it is also the right thing to do from a business perspective.”
  • InterNex Capital Provides $3,400,000 VelocityFlex Funding Solution to Texas Technical Staffing Company
    November 18, 2020
    InterNex Capital provided a $3.4 million VelocityFlex funding solution to a Texas company specializing in technology staffing services to mid to large-cap companies. The company sought a flexible funding solution to pay off their existing debt and provide additional working capital while desiring to only monetize certain current assets without any minimum or guaranteed commitments.
  • mBank Business Credit Funds $1,250,000 Line of Credit for a Michigan-based Manufacturer
    November 18, 2020
    A Michigan manufacturer of cutting tools was looking for a new lender. 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 November 2020.
  • Sterling National Bank Provides $500,000 in Senior Secured Credit Facilities to Sporticulture
    November 18, 2020
    Sterling National Bank's Commercial Services Group provided senior secured credit facilities totaling $500,000 to Sporticulture. The credit facilities will be used to provide working capital to further support the Company’s future growth.
  • Express Trade Capital, Inc. Closes $6MM Factoring Facility for Menswear Importer
    November 18, 2020
    A prominent menswear importer faced with rapidly growing sales was constrained by the limits of their existing bank facility. Express’s breath of knowledge in the apparel industry, specifically in menswear, allowed for a quick, seamless set up and transition from the client’s old facility. The client and Express knew each other from previous dealings which gave all parties more trust and allowed Express greater flexibility and speed to deliver ample, aggressive financing from Day 1.
  • Focus Lenders Services LLC and Gerrard Group Inc. Join Forces
    November 17, 2020
    By having Focus Lenders Services Group (FLSG) perform the Field Exam and walk-through inspection for a company’s Inventory, and having Gerrard Group, Inc. (GGI) perform the “gross & net” Forced and Orderly Liquidation Inventory Appraisal eliminates the duplication process due to only needing a one-time visit/ walk through inspection, which reduces travel expenses & appraisal fees (approximately 10% to 30% plus savings).
  • Summit Midstream Partners, LP Announces Anticipated Closing Date of SMP Holdings' Term Loan Restructuring & Concurrent Full Settlement of DPPO
    November 17, 2020
    Summit Midstream Partners, LP (NYSE: SMLP) announced today that substantially all closing conditions to the previously announced consensual Term Loan restructuring transaction (the "TL Restructuring") involving its wholly owned, indirect subsidiary, Summit Midstream Partners Holdings, LLC ("SMP Holdings") have been satisfied. Lenders collectively holding 100% of the aggregate principal amount of claims, including the approximately $155.2 million in principal amount outstanding, under SMP Holdings' Term Loan (the "Term Loan") have consented to the TL Restructuring and, at closing, will receive their pro rata shares of consideration consisting of $26.5 million of cash and approximately 2.3 million SMLP common units currently pledged as collateral under the Term Loan
  • John P. Malfettone Joins Alvarez & Marsal’s Global Transaction Advisory Group as a Senior Advisor
    November 17, 2020
    Leading global professional services firm Alvarez & Marsal (A&M) has appointed John P. Malfettone as Senior Advisor with the firm’s Global Transaction Advisory Group. Mr. Malfettone will work with Global Transaction Advisory leaders to identify solutions to maximize emerging merger and acquisition (M&A) and private equity trends. His appointment boosts the firm’s bench of senior transaction advisors and reflects its commitment to expanding executive leadership talent in support of clients’ increasingly complex demands.
  • Andrew Wilson Joins Rockland Trust’s Asset Based Lending Team
    November 17, 2020
    Rockland Trust announced today the hiring of Andrew Wilson as Vice President, Relationship Manager as part of their Asset-Based Lending Department. In this role, Andrew will be responsible for managing a portfolio of asset-based lending relationships, while attracting new clients to the team.
  • King Trade Capital Provides a $4.5 Million Supply Chain Finance Facility For NY Medical Gown Supplier
    November 17, 2020
    King Trade Capital is pleased to announce the completion of a $4.5 million purchase order-based supply chain finance facility for a New York based PPE distributor importing medical gowns to be delivered to the US Government. King Trade was contacted by a nationwide asset-based lender that was asked to help find a PO Finance partner to finance the gown company’s large contract awarded by the US Government. The government contract created a supply chain finance need to help the client pay for the production of gowns manufactured in China and ship them to the US.
  • Flatbay Capital LLC Closes $2.4MM CRE Loan for Private Equity-Owned Steel Distributor
    November 17, 2020
    Flatbay Capital LLC (“Flatbay”) (www.flatbay.com) announces the closing of a $2,400,000 commercial real estate term loan for a private equity-owned steel distributor based in Houston. The deal was referred by their large regional bank, who wasn’t able to provide the working capital due to regulations, the client’s current cash flow position, and the percentage of exposure in the energy sector. The property was used as collateral for the 2-year interest only term loan, and provided the perfect solution to bridge the gap until the economy recovers.
  • Business Capital Secures Financing for Women’s Footwear Group
    November 17, 2020
    Business Capital (BIZCAP®) secured a Credit Facility for a leading curator of world class footwear brands for women, in business for over 80 years. The Company is unique in that it offers extended sizes in each of their brands, all of which are innovatively designed to balance comfort and fashion and are crafted from premium quality materials. T
  • Republic Provides a $2.5m Traditional Factoring Facility for a Los Angeles based Apparel Importer
    November 17, 2020
    When a Los Angeles apparel manufacturing and import company sought funding for their 2020 Holiday season orders, they chose Republic Business Credit to accelerate their growth. Republic approved a traditional factoring facility to fund their confirmed orders for the Holiday season, including an additional shipment of Personal Protective Equipment (“PPE”) in the late summer. Republic fully approved the customer limits necessary to enable the company to fulfill the large purchase orders and the add on line for PPE products in the midst of Covid-19.
  • Gemino Healthcare Finance Provides Financing for Skilled Nursing Operator
    November 17, 2020
    Gemino Healthcare Finance is pleased to announce it has provided $3 million in financing in the form of an asset-based revolving line of credit to a skilled nursing operator.
  • Capital One Closes $485 Million Upsize to Covis Group’s Senior Credit Facility
    November 17, 2020
    Capital One announced today that it served as administrative agent and lead arranger for an amended and restated credit facility totaling approximately $960 million for Covis Group S.á.r.l. This includes a $485 million upsize to its existing facility in support of the company’s acquisition of AMAG Pharmaceuticals.
  • Brian Banning Joins First Business Capital Corp. as Vice President – Business Development
    November 16, 2020
    First Business Capital Corp., a division of First Business Financial Services, Inc. (Nasdaq: FBIZ) is pleased to announce that Brian Banning was hired as Vice President – Business Development with over 30 years of experience in financial services. He is located in the Detroit metro area.
  • Gunvor Successfully Closes USD 1.225 Billion Revolving Credit Facility
    November 16, 2020
    Coöperatieve Rabobank U.A., Credit Agricole Corporate and Investment Bank, Credit Suisse (Switzerland) Ltd., ING Bank N.V., Natixis, Société Générale, UBS Switzerland AG and UniCredit Bank AG (together the "Bookrunning Mandated Lead Arrangers") were mandated to arrange the Facility. Coöperatieve Rabobank U.A., Credit Agricole Corporate and Investment Bank, ING Bank N.V., Natixis, Société Générale and UniCredit Bank AG acted as Active Bookrunners while Credit Suisse (Switzerland) Ltd is Facility and Swingline Agent. Emirates NBD PJSC joined as Senior Mandated Lead Arranger.
  • Libbey Successfully Completes Financial Restructuring and Emerges from Chapter 11
    November 16, 2020
    Libbey Inc., one of the world's largest glass tableware manufacturers, today announced that it has successfully completed its financial restructuring and emerged from Chapter 11. Through its Plan of Reorganization, Libbey Inc. is emerging from Chapter 11 as a new private company formed and controlled by Libbey Inc.'s former lenders, Libbey Glass LLC (the "Company" and together with Libbey Inc., "Libbey"), and will remain under the same leadership. The Company emerges with substantial liquidity, supported by proceeds from a $150 million term loan and a $100 million asset-based lending facility.
  • Mesa Air Group Completes Second Closing On Secured Loan Facility, Receiving an Additional $152 Million
    November 16, 2020
    Mesa Air Group, Inc. (NASDAQ: MESA) today announced that it has completed a second closing through its previously disclosed five-year Loan and Guarantee Agreement under the Coronavirus Air, Relief, and Economic Security Act (CARES Act). The Loan Agreement provided a secured term loan facility of up to $200 million. On October 30, 2020, Mesa borrowed $43 million under the facility and today, completed a second closing to borrow an additional $152 million. These funds may be used for general corporate purposes and operating expenses, to the extent permitted by the CARES Act.
  • Enterprise Financial Services Corp Announces Completion of Merger With Seacoast Commerce Banc Holdings
    November 16, 2020
    Enterprise Financial Services Corp (Nasdaq: EFSC) (“Enterprise”), the holding company of Enterprise Bank & Trust (“EB&T”), announced today the completion of its merger with Seacoast Commerce Banc Holdings (“Seacoast”), effective November 12, 2020, and the merger of EB&T with Seacoast’s wholly owned subsidiary, Seacoast Commerce Bank (“Seacoast Bank”). The merger adds approximately $1.3 billion in assets, $1.2 billion in loans and $1.0 billion in deposits to Enterprise. Following the merger, Enterprise will have approximately $9.7 billion in total assets.
  • TAB Bank Provides Additional $4 Million Credit Facility to Support Related Canadian Entity of an Existing Client
    November 16, 2020
    TAB Bank is pleased to announce it has provided an additional $4 million revolving credit facility to support related Canadian entity of an existing client. This entity of TAB’s existing client is a key provider of aftermarket support solutions for the global aerospace and defense industries including the maintenance, repair, and overhaul of engines, components, and related accessories.
  • U.S. Bank Expands its Global Fund Services Offerings, Opens Luxembourg Office
    November 16, 2020
    U.S. Bank today announced the opening of their Luxembourg office, which provides fund accounting and administration, domiciliation, depositary and custody-related services for Luxembourg-domiciled funds. Didier Delvaux, who joined U.S. Bank earlier this year as Luxembourg Country Head, will oversee the office. He has more than 25 years of fund administration and custody experience. Prior to joining U.S. Bank, Delvaux was at State Street, where he was head of fund administration, and prior to that, chief operating officer, Luxembourg and Ireland.
  • Bryan Cave Leighton Paisner Adds Experienced Finance Partner in Chicago From Vedder Price
    November 16, 2020
    The international law firm Bryan Cave Leighton Paisner (BCLP) today announced that Paul Hoffman has joined the firm as a partner within the Banking Practice Group. He will be based in the Chicago office. Hoffman has extensive experience in structuring, documenting and negotiating commercial loan transactions, including senior and mezzanine credit facilities, asset-based and cash flow credit facilities, acquisition financing and cross-border loan transactions.
  • FocalPoint Advises Printed Circuits on its Sale to All Flex, a portfolio company of Granite Equity Partners
    November 16, 2020
    Printed Circuits, Inc. (“PCI” or the “Company”), a leading rigid-flex printed circuit board (“PCB”) manufacturer, has been acquired by All Flex Flexible Circuits, LLC (“All Flex”), a portfolio company of Granite Equity Partners (“Granite”). FocalPoint Partners, LLC (“FocalPoint”) served as exclusive financial advisor to PCI. Founded in 1977, PCI has over 40 years of experience developing high reliability rigid-flex printed circuit boards and other specialty electronics that enable and support mission critical technologies for OEM customers in aerospace, defense, medical device, and other specialty industrial markets.
  • Restructuring Professional Gennaday Spivak Joins Clear Thinking Group
    November 16, 2020
    Clear Thinking Group LLC announced today that Gennady Spivak has joined the firm as a Managing Director. Mr. Spivak is an accomplished professional with a proven record in bankruptcy and insolvency, financial analysis, forensic accounting, fraud investigation, litigation support and wind down management.
  • Solar Cell Manufacturing Equipment and Intellectual Property from Alta Devices Now Available for Bulk or Piecemeal Purchase
    November 16, 2020
    Liquidity Services, Tiger Group, Maynards Industries and GES Associates LLC today announced their appointment to jointly manage a bulk and piecemeal sale of the assets of Alta Devices due to a complete facility closure. Alta pioneered and manufactured extreme efficiency GaAs Flexible Thin Film Solar cells used in many applications, including satellites and vehicles.
  • Rosenthal Adds to Its Southeast Team
    November 16, 2020
    Rosenthal & Rosenthal, Inc., the leading independent factoring, asset-based lending and purchase order financing firm in the United States, today announced the appointment of Dan Rogers as Vice President, Senior Underwriter. Rogers will be based in the Atlanta office and his appointment is effective December 1. A veteran commercial lending professional with nearly 30 years of experience, Rogers joins Rosenthal’s growing team in the Southeast. He will be responsible for underwriting asset based lending and factoring deals for the firm.
  • CoreFund Capital, LLC Provides $25 Million Credit Facility for International Freight Forwarder
    November 16, 2020
    CoreFund Capital, LLC ("Core") has recently facilitated an increase to the credit facility for Innocap, Inc. (the "Company"), a global logistics and freight forwarding company. The credit facility was structured by CoreFund Capital with Innocap, Inc.'s wholly owned subsidiary, Unique Logistics International (NYC) LLC, through an amended Secured Accounts Receivable Facility.
  • Global Structured Finance Coronavirus Performance Report (Asset Performance Hinges on Response to Unwinding of Debt Relief Programs: 4Q20)
    November 16, 2020
    Forbearance and Arrears Key Metrics: The coronavirus pandemic has caused severe disruption across the global economy. Governments globally have enacted emergency financial support programs to mitigate hardship for consumers and businesses. Many lenders have offered debt relief measures to borrowers experiencing difficulties across a range of lending products, as well as other tactics, including restricting enforcement procedures. In this quarterly report, we examine the role of forbearance measures and arrears to assess the impact of the current health crisis.
  • CIBC Innovation Banking Provides Taplytics Inc. with Growth Capital Financing
    November 16, 2020
    CIBC Innovation Banking is pleased to announce growth capital financing for Toronto and Palo Alto-based Taplytics Inc. (“Taplytics”), a single platform for both enterprise marketers and engineers to optimize the entire digital customer experience. The additional capital will help accelerate Taplytics’ customer acquisition strategy and growth plans across North America and Europe.
  • Stein Mart Signs Stalking Horse Bid for Intellectual Property Assets
    November 16, 2020
    Hilco Streambank, a leading intellectual property advisory firm specializing in the valuation and sale of intangible assets, announced the sale of the intellectual property assets of Stein Mart and the execution of a stalking horse bid for the assets. The assets available for sale include the Stein Mart® brand as well as its treasured private label brands, domain names, social media assets, and customer data.
  • MidCap Business Credit Completes $2.5 Million Asset-Based Credit Facility to UG Plast, Inc.
    November 16, 2020
    MidCap Business Credit announced today that it has completed a $2.5 million asset-based credit facility to UG Plast, Inc. Headquartered in York, PA , UG Plast , Inc. is a manufacturer of multi-wall polycarbonate, solid polycarbonate, and corrugated polypropylene sheets selling to distributors. These distributors serve construction, printing display, sign, medical, industrial packaging, and OEM markets.
  • CIT Northbridge Credit Serves as Sole Lead Arranger on Senior Secured Credit Facility for Arizona Nutritional Supplements
    November 16, 2020
    CIT Group Inc. (NYSE: CIT) that CIT Northbridge Credit, as advised by CIT Asset Management LLC, served as sole lead arranger on a senior secured credit facility for Arizona Nutritional Supplements LLC, a portfolio company of Endeavour Capital. Arizona Nutritional Supplements, founded in 1996 and headquartered in Chandler, Arizona, is a leading contract and private label manufacturer of vitamins, minerals and supplements in a range of sizes and formats, including tablets, capsules, soft gels and powders.
  • Ares Commercial Finance has Provided a $100 Million Senior Secured Credit Facility to Pace Industries, LLC
    November 16, 2020
    Ares Commercial Finance announced that it has provided a $100 million senior secured credit facility to Pace Industries, LLC, an entity owned by funds and accounts managed by TCW Asset Management Company and by affiliated funds and accounts of Cerberus Capital Management, L.P. Headquartered in Fayetteville, Arkansas, Pace Industries is one of North America’s largest high-pressure aluminum, magnesium and zinc die casting companies serving over 400 OEMs/Tier 1 customers.
  • eCapital Corp. Provides $5 Million Factoring Facility to Beverage Importer and Distributor
    November 16, 2020
    eCapital Corp. (“eCapital”), a leading alternative finance provider in North America, today announced the company has provided a $5 million factoring facility to an importer and distributor of wine and spirits. The beverage company will use the factoring facility to support the company’s new imported product available for purchase from major retailers such as Costco, Total Wine & More, and BevMo!, among others in select states across the United States.
  • Phillips Pet Food & Supplies Announces New Capital Investment, Debt Reduction, Expanded Credit Facility
    November 16, 2020
    Phillips Pet Food & Supplies (“Phillips”), the national leader in pet food and supplies distribution, today announced it has completed a comprehensive refinancing, including more than $20 million of new investment capital from a group of existing investors. Phillips also established an expanded revolving credit facility led by Wells Fargo Bank, NA. This facility provides a significant liquidity increase from the Company’s previous revolving credit facility.
  • Gordon Brothers Sells Interest in Gordon Brothers Finance Company
    November 16, 2020
    Gordon Brothers, the global advisory, restructuring and investment firm, scales up its special situations lending and investment platform through the addition of half a dozen key industry veterans from leading lending institutions across the globe. In conjunction with the expanding team and enhanced platform, Gordon Brothers sold its minority interest in Gordon Brothers Finance Company (“GBFC”), a private commercial finance company on November 3.
  • Justice Commences Total Inventory Blowout Sales in 85 Locations and Online
    November 16, 2020
    SB360 Capital Partners, one of the country’s leading asset disposition specialists, announced the start of “Total Inventory Blowout” sales in 85 Justice stores as well as the e-commerce site at www.shopjustice.com. SB360 will be the exclusive consultant to assist Justice as they conduct these sales. Justice is a destination store for tween girls, offering a large selection of tween fashion merchandise and accessories at affordable prices.
  • J D Factors Announces Factoring Facilities
    November 16, 2020
    J D Factors announced it has provided the following factoring facilities: $75,000 to a transportation company in Quebec; $1,500,000 to a telecommunications company in Florida; $150,000 to a transportation company in Ontario; $200,000 to a transportation company in New Jersey and $350,000 to a transportation company in Illinois.
  • BancTrust & Co. Investment Bank Announces New Senior Capital Markets Hire to Reinforce London Team
    November 16, 2020
    BancTrust & Co. Investment Bank (BancTrust), the London-based Emerging Markets boutique investment bank, is pleased to announce a new senior hire to its Debt Capital Markets team.
  • King Trade Capital Provides a $4.5 million Supply Chain Finance Facility for NY Medical Gown Supplier
    November 16, 2020
    King Trade Capital is pleased to announce the completion of a $4.5 million purchase order-based supply chain finance facility for a New York based PPE distributor importing medical gowns to be delivered to the US Government. King Trade was contacted by a nationwide asset-based lender that was asked to help find a PO Finance partner to finance the gown company’s large contract awarded by the US Government. The government contract created a supply chain finance need to help the client pay for the production of gowns manufactured in China and ship them to the US.
  • Amerisource Closes $1,000,000 Credit Facility for Agricultural Processor
    November 16, 2020
    Amerisource Business Capital announced the closing and funding of a $1,000,000 credit facility for a Michigan based grower and processor. The proceeds are being used to fund the company’s growth and expand their facilities.
  • Audio Visual Industry Recovery Values Demonstrating Resilience During COVID-19 Crisis
    November 12, 2020
    Hilco Global has issued a midstream Q4 2020 report regarding the impact of the ongoing pandemic on the TV/Film/Broadcast and Concert/Theater/Tradeshow segments of the audio visual (AV) industry, and how the distinct challenges associated with each business model are impacting gear sales, asset values and a potential path to recovery.
  • CIT Serves as Joint Lead Arranger for $70 Million Financing for Personal Care Manufacturer
    November 12, 2020
    CIT Group Inc. (NYSE: CIT) today announced that its Sponsor Finance business, part of the Commercial Finance division, served as joint lead arranger and joint bookrunner for a $70 million financing on behalf of Estyle Holdings Inc., makers of Eco Style hair gel and a wide range of other beauty and personal care products. Based in Jacksonville, Florida, Estyle sells its products through distributors, beauty supply stores and leading national retail chains, targeting multicultural consumers.
  • Q3 Shows Highest Chapter 11 Filings Since Great Recession
    November 12, 2020
    The impact of COVID-19 is becoming evident in the accelerating Chapter 11 filings. The amount of Chapter 11 bankruptcy filings in the third quarter, which are tracked in the newest Polsinelli-TrBK Distress Indices Report, have hit the highest level since 2010. This trend is expected to continue into 2021. The third quarter shows clear signs of the pandemic’s impact on bankruptcy filings and is a continuation of the filing spike from the prior quarter. The filings occurring now are either defensive – to stop creditor enforcement actions – or offensive – to implement a restructuring agreement with creditors. This is the sixth consecutive quarter where Chapter 11 distress has measured over 50 points; the Index hasn’t seen that level of distress since 2011.
  • KeyBank Names John J. Manginelli as Market President
    November 12, 2020
    KeyBank announced that John J. Manginelli, Northeast regional executive for KeyBank Real Estate Capital, will assume an expanded role that includes market president for Key’s Hudson Valley/Metro New York market. As market president, Manginelli will drive collaboration and coordination of Key activities and resources in the market, as well as serve as the face and voice of Key in the community. He will also continue to lead Key’s real estate capital business throughout the northeast, with main offices in New York City, Boston, Washington DC, and Philadelphia.
  • HKW Hires Vice President as Focus in the Technology Sector Expands
    November 12, 2020
    HKW, an Indianapolis-based middle-market private equity firm, today announced Rick Ammar has joined the firm as vice president. Mr. Ammar will serve in a senior role as part of HKW’s expanding technology efforts.
  • Crystal Financial Provides $27,500,000 Emergence Facility for True Religion Apparel, Inc.
    November 12, 2020
    Crystal Financial LLC announced the closing of a $27,500,000 Senior Credit Facility for True Religion Apparel, Inc. (“True Religion” or “the Company”). Founded in 2002, True Religion is a lifestyle apparel brand which aims to deliver an exclusive assortment of unique designs to its customer base. Known for its signature styling, the Company focuses on producing high quality premium denim and sportswear for men, women, and children. True Religion’s products are sold at the Company’s retail stores, www.truereligion.com, department stores, and at specialty retailers globally.
  • Marco Capital Inc. Grows Its Operations Group
    November 12, 2020
    In order to further accommodate a growing portfolio of Factoring transactions, Marco Capital Inc (MCI) has hired Luminita Pauna (Lumi) as its Director of Operations. Lumi has over seven (7) years of experience at the Florida-based finance provider Trade Finance Solutions (later to become Global Merchant Fund then eCapital). As both an Account Manager and then advancing to a managing Account Executive position, she brings a wealth of experience to MCI in the fields of Factoring, Asset Based Lending, Purchase Order Finance, and Supply Chain Finance.
  • A&G Forms Financial Reporting and Property Analysis Group
    November 12, 2020
    Led by former Ashley Furniture VP, division uses analytics to bolster real estate strategies of healthy and distressed entities in retail, hospitality, office, education and other sectors.
  • Amerisource Closes $3,000,000 Credit Facility for Membrane Manufacturer
    November 12, 2020
    Amerisource Business Capital announced the closing and funding of a $3,000,000 credit facility for a Texas-based fabricator of membranes used in water treatment facilities. The Company, owned by a foreign parent, was seeking an asset-based facility to secure working capital.
  • PlainsCapital Bank Promotes Fort Worth Leadership
    November 12, 2020
    PlainsCapital Bank recently announced that Keeton Moore has been promoted to president of its downtown Fort Worth branch at 801 Houston Street. Moore will lead the branch’s commercial lending team, focusing on expanding PlainsCapital’s presence in the area and executing the Bank’s long-term growth strategies for North Texas.
  • Riveron Expands Restructuring Capabilities with Acquisition of Winter Harbor
    November 11, 2020
    Riveron, a national business advisory firm specializing in accounting, finance, and operations, announced today its acquisition of Winter Harbor, a Boston-based provider of restructuring and turnaround services. The acquisition reinforces Riveron’s commitment to strengthening and expanding its strategic, operational, and financial solutions for companies facing distressed and special situations in addition to serving healthy companies across the corporate and private equity landscape.
  • BMO Harris Launches $5 Billion Program to help Black and Latino Businesses and Communities, With ‘Significant’ Investment in Chicago
    November 11, 2020
    BMO Harris is launching a $5 billion initiative to support minority-owned businesses and communities, with a significant investment earmarked for Chicago. The five-year program, announced Tuesday, will increase commercial lending opportunities for Black and Latino businesses, which have been hard-hit during the pandemic. It also will include direct investment in underserved communities through affordable housing and neighborhood revitalization.
  • Cypress Creek Renewables Closes $200M Financing
    November 11, 2020
    Investec Power and Infrastructure Finance – North America (Investec) acted as sole bookrunner, coordinating lead arranger, and administrative agent on the transaction. In addition to Investec, other joint lead arrangers for the transaction included Credit Agricole, East West Bank, and Silicon Valley Bank. Cypress Creek was represented by Kirkland & Ellis LLP as its lead transaction counsel. The lenders were represented by Milbank as transaction counsel.
  • Vaquero Midstream LLC Announces Completion Of Credit Facility
    November 11, 2020
    Vaquero Midstream announced today the closing of a $200 Million revolving credit facility on October 29, 2020. Vaquero extended the commitment of the original facility for two years, to December 2023. The facility is available for general corporate purposes, including funding capital expenditures, working capital and operating expenses. The bank group is now led by BOK Financial.
  • Advanced Flower Capital Provides $22 Million Secured Credit Facility to Organic Remedies, Inc. and Toigo Organic Farms, LLC to Fund Expansion Within Pennsylvania
    November 11, 2020
    AFC Management, LLC ("AFC Management") announced today that an affiliate, AFC Gamma, Inc. ("AFC"), has funded a $22 million credit facility for Organic Remedies, Inc. ("Organic Remedies" or the "Company"). The credit facility is designed to provide capital to complete the build out of Organic Remedies' +/-240,000 square foot cultivation and processing facility, as well as build out three additional dispensaries, under its Clinical Registrant ("CR") medical marijuana license. AFC will hold $22 million of the credit facility, which consists of a first-lien term loan that can be drawn upon over the course of a one-year period.
  • Context Business Lending Continues Rapid Growth Amidst the Pandemic
    November 11, 2020
    Context Business Lending, LLC ("CBL") a family office-backed leading, national asset-based lender becoming increasingly well known for disrupting the Asset Based Lending market, announced today the closing of seven (7) new revolving lines of credit over the last five months. These recent closings included a recent $20MM line to Universal Metals ("Universal") and parent company, Northwestern Holding Company ("Northwestern").
  • Iron Horse Credit Hires Savi Hussain as SVP of Underwriting
    November 11, 2020
    Iron Horse Credit, a leading stand-alone inventory lender, is proud to announce that it has hired Savi Hussain as its Senior Vice President of Underwriting. Savi will be the senior officer responsible for the company’s credit and underwriting operations.
  • Entrepreneur Growth Capital Closes $5,000,000 PPE Deal
    November 11, 2020
    Entrepreneur Growth Capital (“EGC”) is pleased to announce that it has closed a $5MM working capital facility to a New York-based distributor of personal protective equipment (“the Company”). The Company started with a few orders for gloves and masks, and has now developed relationships with many suppliers (foreign and domestic) and customers ranging from large hospital groups, to Fortune 500 companies and the US Government.
  • Secured Finance Network Convention Amid Pandemic, Election Aftermath to Address Future of Finance
    November 11, 2020
  • Tilly’s, Inc. Announces New $65 Million Asset-Backed Credit Facility
    November 11, 2020
    Tilly’s, Inc. (NYSE: TLYS, the “Company”) today announced that it has established a new $65.0 million asset-backed credit facility (the “ABL Facility”) with Wells Fargo Bank, N.A. (“Wells Fargo”). The ABL Facility is a three-year, $65.0 million asset-backed credit facility which replaces the Company’s previous $25.0 million revolving credit facility, also with Wells Fargo.
  • JCPenney Receives Court Approval for Asset Purchase Agreement with Brookfield, Simon and First Lien Lenders
    November 11, 2020
    Pursuant to the APA, Brookfield and Simon will acquire substantially all of JCPenney’s retail and operating assets (“OpCo”) through a combination of cash and new term loan debt. 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
  • Ryerson Announces Completion of Amendment and Extension of Revolving Credit Facility
    November 11, 2020
    Bank of America, N.A. is the Administrative Agent and Collateral 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 Bank, National Association were the Joint Lead Arrangers and Joint Bookrunners.
  • Open for Business and Lending, CNH Finance Successfully Funded Eight Commitments in Q3, Totaling $21,000,000
    November 11, 2020
    CNH Finance announced it provided financing for companies in the home health care and skilled nursing facilities industries. CNH Finance specializes in middle-market asset-based lending providing clients working capital from $1MM to over $20MM.
  • CIT Launches Two Million Meals Campaign to Fight Hunger
    November 11, 2020
    CIT Group Inc. (NYSE: CIT) today announced the start of its annual partnership with Feeding America® and this year, will double its commitment in the fight against hunger and help donate Two Million Meals1 for people struggling with food insecurity across the country. Responding to the increased need for food assistance due to the COVID-19 pandemic, the Two Million Meals campaign expands CIT's One Million Meals campaign from years prior and invites customers, employees and social media followers to join with the company and help provide Two Million Meals for people in need.
  • SG Credit Partners Provides $3MM Structured Cash Flow Facility to Tech-Enabled Services Company
    November 11, 2020
    SG was able to get comfortable with the Company’s strong pipeline of contracted revenue, return to profitability, revenue retention rate greater than 90%, and plethora of expansion opportunities through its new channel partnerships. SG provided a senior secured, $3MM growth capital loan structured around recurring revenue, proforma cash flow and total leverage.
  • Alvarez & Marsal Expands Its Healthcare Offerings with the Appointment of a Seasoned Pharmacy and PBM Advisor
    November 11, 2020
    Leading global professional services firm Alvarez & Marsal (A&M) has hired Boston-based Michael Niarchos as a Managing Director in the Health Plans and Managed Care practice of its Healthcare Industry Group. Mr. Niarchos will primarily advise health plans and healthcare systems on pharmacy operations transformation and pharmacy benefit management (PBM) strategies. This expanded capability reflects A&M’s response to the growing demand for solutions that address rising costs, stemming from rapidly evolving market dynamics, across healthcare sectors.
  • Dwight Funding Closes $4mm in Funding to Two DTC Companies
    November 11, 2020
    Dwight Funding closed a combined $4mm in funding to two fast growing, investor backed DTC companies. One is a men’s personal care company and the other a leading bicycle company. Both are experiencing unprecedented growth due in part to Covid-19 related consumer trends. Dwight Funding is providing them with an Asset Based Loan backed by their inventory.
  • Fifth Third Announces the Appointment of Jamie Leonard as Chief Financial Officer
    November 11, 2020
    Fifth Third Bancorp (Nasdaq: FITB) today announced the appointment of Jamie Leonard as chief financial officer, effective immediately. The company also announced the appointment of Bob Shaffer as chief risk officer, to succeed Leonard, and Peg Jula as chief human resources officer, succeeding Shaffer.
  • BMO Financial Group Announces Executive Appointments
    November 11, 2020
    BMO Financial Group today announced a series of executive appointments to continue to build on its strategic advantages. Tom Flynn will move from his current role as Chief Financial Officer to become a Vice Chair. In his new role, he will support the growth ambitions of corporate clients and deepening client relationships. He will also continue to support certain enterprise strategic initiatives.
  • Edward King of King Trade Capital to be Moderator and Panelist during SFNet’s 76th Annual Convention November 17-19, 2020
    November 9, 2020
    King Trade Capital’s Founder and Managing Partner, Edward King, will be the moderator and a panelist on the panel titled Disruption in Supply Chains & Mitigating Risks. The panel is scheduled for Thursday, November 17th at 10:15 AM CT during the SFNet 76th Annual Convention and includes five supply chain finance experts from across the globe discussing the challenges financing the supply chain during the pandemic, past, present and what is expected of the future.
  • NPC International Enters Into $816 Million Stalking Horse Asset Purchase Agreement with Flynn Restaurant Group
    November 9, 2020
    Weil, Gotshal & Manges LLP is acting as NPC’s legal counsel, Greenhill & Co., LLC is acting as financial advisor, AlixPartners LLP is serving as restructuring advisor, and A&G Realty is acting as real estate advisor to the Company. Davis Wright Tremaine LLP and Kirkland & Ellis LLP are serving as legal counsel to Flynn Restaurant Group LP.
  • Service Properties Trust Amends $1.4 Billion Credit Agreement
    November 9, 2020
    Service Properties Trust (Nasdaq: SVC), or SVC, today announced that it has amended the credit agreement governing its $1.0 billion revolving credit facility and $400.0 million term loan. The amendment provides for a waiver of all existing financial covenants under its credit agreement through July 15, 2022, during which, subject to certain conditions, SVC will continue to have access to undrawn amounts under the revolving credit facility. In connection with the amended credit agreement, SVC repaid its $400.0 million term loan on November 5, 2020 using undrawn amounts under its revolving credit facility.
  • Converge Technology Solutions Corp. Announces Refinancing of Credit Facility
    November 9, 2020
    Converge Technology Solutions Corp. ("Converge" or "the Company") (TSXV: CTS) (FSE: 0ZB) (OTCQX: CTSDF), a national platform of regionally focused Hybrid IT solution providers in the U.S. and Canada, is pleased to announce that it has entered into a committed $140 million revolving credit facility with a syndicate of banks led by the Canadian Imperial Bank of Commerce (CIBC). This will result in significant interest cost savings for Converge based on the pricing matrix of the new facility.
  • J D Factors Announces Factoring Facilities
    November 9, 2020
    J D Factors announced it provided 11 factoring facilities to transportation, wholesale and toy manufacturing companies in the U.S. and Canada.
  • Rockland Trust Provides Asset-Based Credit Facility to Yankee Spirits Inc.
    November 9, 2020
    Rockland Trust’s Asset-Based Lending Team announced today that it provided a $6 million revolving line of credit to Yankee Spirits Inc., a retailer of wine, beer, and spirits with four locations throughout Massachusetts. The company sells a wide variety of alcoholic beverages, and utilizes warehouse space at each location to purchase in larger quantities, enabling them to offer discount prices. Proceeds from the line of credit were used to refinance their existing credit facility and going forward, the line will be used to support continued growth.
  • Prestige Capital Announces $5 Million for a Leveraged Buyout
    November 9, 2020
    Prestige Capital Finance, LLC recently delivered a $5 million factoring facility to a Southeast-based company that focuses on the manufacturing and assembly of corrugated retail displays. The funds were used to acquire a smaller corrugated display company in a new market as well as ongoing working capital needs for both entities.
  • White Oak Provides $5 Million in Receivables Financing to Renewable Energy Services Company
    November 9, 2020
    White Oak Commercial Finance, LLC (“White Oak”), an affiliate of White Oak Global Advisors, LLC, announced it provided a $5 million Receivables Financing Facility to a software and program management services firm that provides renewable energy-related solutions to public and private utilities providers.
  • Gibraltar Brings Stability and Flexibility to $15MM Acquisition Financing
    November 9, 2020
    Fluctuating economic conditions, coupled with managing multiple remote teams to secure financing for a major acquisition isn’t a scenario every finance provider is equipped to handle. Kinzie Capital Partners, a Chicago-based private equity group approached Gibraltar to find a financing source for the acquisition of Chelsea Lighting, a well-known New York City-based lighting technologies and procurement specialist that has worked with prominent Fortune-500 companies.
  • CapitalPlus Funding Gives Contractors a Stable Foundation
    November 9, 2020
    October’s transactions demonstrated that CapitalPlus can respond quickly to changing economic conditions and offer a reliable funding solution. Representative transactions included: $1.5 million construction factoring facility for a civil engineering firm in Texas; $500,000 construction factoring facility for a directional drilling contractor in Oklahoma; $200,000 construction factoring facility for a Miami millwork and cabinetry company and $100,000 construction factoring facility for a security equipment installer in Indiana so they could take on multiple projects simultaneously.
  • Oxford Finance Provides $9.5 Million Credit Facility to Vitalogy Property Holdings LLC
    November 9, 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 $9.5 million senior credit facility and revolving line of credit to AB Asset Management LLC ("AB") and Vitalogy Property Holdings LLC ("Vitalogy" or "the Company"). The proceeds will be used to finance the acquisition of two skilled nursing facilities located in Wisconsin, totaling 158 SNF beds.
  • eCapital Corp. Provides $3 Million Factoring Facility to International Consumer Electronics Distributor
    November 9, 2020
    eCapital Corp. (“eCapital”), a leading alternative finance provider in North America, today announced the company has funded a $3 million factoring facility to a distributor of consumer electronics products. The company distributes electronics for top brands including Apple, Samsung, Google, Microsoft, Sony and more, both domestically and internationally, and chose eCapital’s Commercial Finance division to help support their business growth.
  • eCapital Corp. Provides $900,000 Factoring Facility to Veteran-Owned Staffing Company
    November 9, 2020
    eCapital Corp. (“eCapital”), a leading alternative finance provider in North America, today announced the company has provided $900,000 factoring facility to a veteran-owned temporary staffing agency that specializes in the placement of healthcare professionals for the U.S. government. The company chose eCapital’s Commercial Finance division because it required a lender that understood the government contracting business and could quickly scale according to its contract demands.
  • Walker & Dunlop Investment Partners Expands Capital Formation Team with New Director
    November 9, 2020
    Walker & Dunlop, Inc. announced today that Walker & Dunlop Investment Partners, Inc. (WDIP), the company's wholly-owned alternative investment manager focused on middle-market commercial real estate investments, has hired Michael Link as Director on WDIP's Capital Formation team. Mr. Link will be based out of the firm's Denver, Colorado headquarters and will be responsible for marketing and fundraising efforts as WDIP continues to build a diversified suite of private equity and debt strategies.
  • Varagon Capital Partners Supports Morgan Stanley Capital Partners’ Acquisition of US HealthConnect
    November 9, 2020
    Varagon Capital Partners (Varagon) today announced it is serving as Administrative Agent, Joint Lead Arranger and Bookrunner on a senior secured credit facility to support the acquisition of US HealthConnect (USHC) by investment funds managed by Morgan Stanley Capital Partners (MSCP).
  • Kane Biotech Enters into Credit Facility with Pivot Financial
    November 9, 2020
    Kane Biotech Inc. (TSX-V:KNE; OTCQB:KNBIF) (“Kane Biotech”) today announced that it has entered into a one year credit agreement (the “Credit Agreement”) with Pivot Financial Inc. (“Pivot”) for a non-revolving term loan in the aggregate amount of $1,480,000.00 (the “Credit Facility”).
  • Solar Capital Ltd. Acquires Kingsbridge Holdings LLC; Expands Specialty Finance Platform
    November 9, 2020
    Solar Capital Ltd. (NASDAQ: SLRC) (the “Company” or “Solar Capital”) announced that on November 3, 2020, it acquired a majority stake in Kingsbridge Holdings LLC ("Kingsbridge") from TZP Capital Partners II, LP and its affiliates and the Kingsbridge management team. Kingsbridge, based in Lake Forest, Illinois, is a leading independent lessor of information technology, industrial, healthcare, and commercial essential-use equipment to a diverse set of high credit quality customers. With the acquisition, Solar Capital will have invested approximately $216 million, in a combination of approximately $136 million of equity and $80 million of debt, to acquire 87.5% of Kingsbridge in partnership with the Kingsbridge management team which is rolling a portion of their equity ownership as part of the transaction.
  • Epizyme Announces Expanded Loan Facility with Pharmakon Advisors for Additional $150 Million to Fund its Growth Initiatives
    November 9, 2020
    Epizyme, (Nasdaq: EPZM), a fully integrated, commercial-stage biopharmaceutical company developing and delivering novel epigenetic therapies, today announced that the company has entered into an amended and restated agreement with funds managed by Pharmakon Advisors, LP, an affiliate of Royalty Pharma, to expand its loan facility and plans to draw down $150 million. Epizyme and Pharmakon Advisors originally executed their agreement in November 2019, in conjunction with the company’s funding agreement with Royalty Pharma.
  • Core Molding Technologies Reports Significant Increase In Third Quarter 2020 Earnings And A New Credit Facility
    November 9, 2020
    On October 27, 2020, the Company closed a new credit facility with Wells Fargo Bank and FGI Equipment Finance, LLC. The new credit facility is a combination of $31.7 million of new term loan capacity and $25.0 million of revolving loan capacity. Upon closing the new credit facility, the Company borrowed $30.0 million of term loans and $8.7 million of revolving credit loans to repay its existing credit facility and pay transaction fees.
  • Franklin Capital Announces Participation in the SFNet 76th Annual Convention
    November 9, 2020
    Franklin Capital, a leading finance company, dedicated to helping small to medium-sized businesses meet their cash flow needs, is pleased to announce our participation in the SFNet’s 76th Annual Convention, the largest gathering of secured finance professionals, November 17-19, 2020.
  • Hertz Global Holdings Secures A $4 Billion Commitment For Fleet Financing To Support A Refreshed And Robust Vehicle Fleet
    November 5, 2020
    Hertz Global Holdings, Inc. ("Hertz" or "The Company") (OTCPK: HTZGQ) today announced that it has secured commitments for fleet financing totaling $4 billion and has filed a motion for approval of The Hertz Corporation entering into the documentation for the financing by the U.S. Bankruptcy Court for the District of Delaware. Upon approval, and together with the up to $1 billion of Hertz's debtor-in-possession financing that may be used for equity in the fleet financing subsidiary, Hertz will have access to up to $5 billion in total funding to support its fleet financing needs. Moelis & Co. is serving as investment banker, FTI Consulting is serving as Hertz's financial advisor and White & Case LLP is serving as Hertz's legal advisor.
  • Main Street Announces Increase in Commitments Under its Credit Facility Total Commitments Increased to $780 Million
    November 5, 2020
    Main Street Capital Corporation (NYSE: MAIN) ("Main Street") is pleased to announce the expansion of total commitments under its revolving credit facility (the "Credit Facility") from $740.0 million to $780.0 million. The $40.0 million net increase in total commitments was the result of the addition of a new lender relationship, which further diversifies the Main Street lending group under the Credit Facility to a total of nineteen participants. The recent increase in total commitments was executed under the accordion feature of the Credit Facility, which allows for an increase up to $800.0 million in total commitments under the facility from new and existing lenders on the same terms and conditions as the existing commitments.
  • Crestmark Provides More Than $23.3 Million in Commercial Financing to 84 Businesses in the Second Half of October
    November 5, 2020
    Crestmark secured a total of $11,018,800 in ABL financial solutions for seven new clients; Crestmark Equipment Finance provided $3,759,627 in two new lease transactions; Crestmark Vendor Finance provided $6,249,333 in 73 new transactions; the Government Guaranteed Lending group provided $2,420,000 in financing for two new clients in the second half of October.
  • Moritt Hock Ranked Best Law Firm By U.S. News & World Report Best Lawyers
    November 5, 2020
    U.S. News & World Report and Best Lawyers®, for the eleventh consecutive year, announce the "Best Law Firms" rankings. Moritt Hock & Hamroff has been ranked in the 2021 U.S. News - Best Lawyers® "Best Law Firms" list nationally in 1 practice area and regionally in 1 practice area.
  • B. Riley Advisory Services Opens Office in Mexico
    November 5, 2020
    B. Riley Advisory Services, a specialty financial advisory services firm and subsidiary of B. Riley Financial, Inc. (NASDAQ: RILY), today announced the opening of an office in Mexico. B. Riley Advisory Services de Mexico. S. de R.L. ("B. Riley Advisory Services de Mexico") will be led by Gaston Mauvezin, a seasoned executive with 20+ years of leadership experience at firms in the Automotive, Financial Services, Real Estate, Agribusiness, Industrial and Consumer markets in Argentina, Brazil and Mexico.
  • Webster Promotes Jonathan W. Roberts to Lead Retail Banking and Consumer Lending
    November 5, 2020
    Webster Financial Corporation (NYSE: WBS), the holding company for Webster Bank, N.A. and its HSA Bank division, is pleased to announce that Executive Vice President Jonathan W. Roberts has been promoted to Head of Retail Banking and Consumer Lending at Webster Bank and Webster Financial Corporation. In his role, he will oversee retail operations and the banking center network, and will lead core consumer products and services, including small business banking. Roberts will report directly to Chairman, President and CEO John R. Ciulla.
  • Udacity Signs $75M Debt Facility with Hercules Capital
    November 5, 2020
    Udacity, a Mountain View, CA-based global online learning platform educating workers for the careers of the future, signed a $75m debt facility with Hercules Capital (NYSE: HTGC). The company intends to use the funds to continue to expand operations and its business reach.
  • WSFS Bank Adds Experienced Commercial Banking Team in Philadelphia
    November 5, 2020
    WSFS Bank, the primary subsidiary of WSFS Financial Corporation (Nasdaq: WSFS), today announced the expansion of its Commercial Banking team in the Greater Philadelphia area as part of its strategic plan to invest in talent and build long term value. The team joining WSFS Bank is Kevin J. Beaford, Jr., Patrick Fisher, Graham R. Palusky, and Brian Quach. Fisher will lead the group, which brings more than 40 years of combined experience to WSFS. He will report directly to Steve Clark, Executive Vice President, Chief Commercial Banking Officer.
  • BlackRock Capital Investment Corporation Announces Appointments of Nik Singhal as President and Abby Miller as CFO and Treasurer
    November 5, 2020
    BlackRock Capital Investment Corporation (NASDAQ: BKCC) ("BCIC" or the "Company") announced today the appointments of Nik Singhal as President, effective November 3, 2020, and Abby Miller as Chief Financial Officer and Treasurer, to be effective as of November 9, 2020, at which time Michael Pungello, Interim Chief Financial Officer and Treasurer will step down from those posts. The Company also announced the planned retirement of Mr. Pungello from BlackRock in March 2021. Mr. Pungello will serve in an advisory role until then.
  • Hilco Redevelopment Partners Hires Real Estate Industry Professional George Needs as Vice President – Mixed Use Development
    November 5, 2020
    Mr. Needs joins the growing HRP organization and will be a vital addition to the new urban mixed-use development team. Mr. Needs will join Melissa Schrock, who was recently brought on to lead the team, and together, they will be responsible for managing 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. He will be based on Boston, MA.
  • Sterling National Bank Provides $3,000,000 to a Staffing Solutions Firm
    November 5, 2020
    Sterling National Bank's Commercial Services Group provided senior secured credit facilities totaling $3,000,000 to a staffing solutions firm located in New York, NY. The transaction was originated by Robert Mocerino, a Managing Director located in Jericho, NY.
  • Tiger Auctioning Assets From One of Canada’s Largest AV Rental Houses
    November 5, 2020
    In a three-day online auction event scheduled for November 17-19, Tiger Group will be selling gear from the recently closed Westbury National Show Systems Ltd. (“Westbury”), which had long been one of Canada’s largest full-service live event rental production companies. Westbury, which operated from an approximately 60,000-square-foot facility in metro Toronto, was placed in receivership on October 9, 2020.
  • Monroe Capital Corporation Announces Third Quarter 2020 Business Development Company Results
    November 5, 2020
    Third Quarter 2020 Financial Highlights: • Paid quarterly dividend of $0.25 per share; • Current annual cash dividend yield to shareholders of approximately 15.3%1; • Shares trading at a Price to NAV of 0.60x2; • Net Investment Income of $5.6 million, or $0.26 per share; • Adjusted Net Investment Income of $5.8 million, or $0.27 per share; and • Net increase in net assets resulting from operations of $15.2 million, or $0.71 per share
  • McCoy Global Secures New Credit Facility and Refinances Promissory Note
    November 4, 2020
    McCoy Global Inc. ("McCoy", "McCoy Global" or "the Corporation") (TSX: MCB) today announced it has secured a new US$2.5 million revolving demand facility with a Canadian chartered bank to support working capital. The facility is subject to customary disbursement conditions including the satisfactory placement of a general security agreement over the Corporation's assets and final review by Export Development Canada under its Export Guarantee Program. The Corporation has also successfully refinanced its existing US$2.4 million promissory note with a US$3.4 million term facility to extend maturity and support McCoy Global's 2020 technology development program.
  • Hilco Global Continues Support for the All Stars Project - Chicago with an Additional $50,000 Donation in 2020
    November 4, 2020
    Hilco Global (www.hilcoglobal.com), the world’s preeminent authority on asset valuation, monetization, and advisory services, announced today that it has donated an additional $50,000 to the All Stars Project in Chicago. The donation is part of an ongoing company program called Hilco Helps, Hilco Global’s philanthropic arm that supports its corporate and employee commitment to various causes, often focused on children and education. Over the years, Hilco Helps has actively worked with several Chicago-area organizations such as Youth Guidance, Cradles to Crayons, Chicago Public Schools, Chicago Public Library, Community Colleges of Chicago, and All Stars Project providing critical support to help those that need it most.
  • SB360 Capital Partners to Assist Pet Valu, Inc. With Wind Down of All U.S.-Based Stores
    November 4, 2020
    SB360 Capital Partners, a leading asset disposition specialist, has been engaged by Pet Valu, Inc., a specialty retailer of premium pet food, treats and supplies in the United States, to assist the company with the wind down of its U.S. based stores. Pet Valu, Inc. named SB360 as its exclusive consultant to operate “Store Closing” or “Total Inventory Blowout” sales in 358 stores located across 14 states. The sales begin today in all stores.
  • InterNex Capital Provides $2MM Velocity LOC to Florida-Based Food Manufacturer
    November 4, 2020
    InterNex Capital provided a $2 million velocity line of credit and a $550,000 stretch facility to a Florida-based food manufacturer that sells low carb, ready-to-eat foods through U.S. distributors and directly to consumers online.
  • Capital Finance Industry Veterans Launch New Company: Honour Capital
    November 4, 2020
    Brian Slipka, a Twin Cities-based entrepreneur and former senior vice president and head of TCF Technology Finance at TCF Capital Solutions/Winthrop Resources Corporation, a division of TCF Bank, along with Shea Huston, former regional vice president of the central and western U.S. for Winthrop, today announced the launch of a new capital finance company, Honour Capital.
  • First-Lien Recoveries Strong for Health, Food, Consumer Cos.
    November 4, 2020
    Bankrupt healthcare and food, beverage and consumer companies' relatively high reorganization multiples and stable cash flow profiles promoted mostly strong recoveries at the first-lien level, according to a new Fitch Ratings report.
  • Pemberton Appoints Scott Hamilton as Managing Director, North America
    November 4, 2020
    Pemberton, a leading European private credit asset manager, backed by UK insurer Legal & General Group PLC, today announced the latest step in its strategic expansion into the US and Canadian market with the appointment of Scott Hamilton, to the newly created role of Managing Director for North American Business Development. Scott will lead institutional client coverage and consultant relations for Pemberton’s European private debt strategies in the US and Canada.
  • Imperial Capital Expands Leveraged Finance & Alternative Credit Business with New Hires in US Sales
    November 4, 2020
    Imperial Capital, LLC (“Imperial Capital”), announced the continued expansion of its high yield & distressed credit sales team with the hiring of 3 sales professionals in the US: John Santonastaso, Colin Ives and Brent Herbst. These new sales professionals will report to Timothy Sullivan, President of Imperial Capital who has throughout 2020 steadily implemented the strategic expansion of Credit Sales & Trading with over 25 new hires globally. The hires will support a range of activities including par and distressed loan and bond trading along with alternative credit solutions in distressed and esoteric assets.
  • Service Logic Announces Acquisition by Leonard Green & Partners from Warburg Pincus
    November 3, 2020
    Service Logic, the largest independent provider of aftermarket maintenance, repair and replacement services for commercial HVAC equipment, today announced that it has been acquired by Leonard Green & Partners from Warburg Pincus. Harris Williams and Moelis served as financial advisors and Kirkland & Ellis LLP served as legal advisors to Service Logic. Latham & Watkins LLP served as legal advisors to Leonard Green & Partners. Committed debt financing for the transaction was provided by JPMorgan Chase Bank, N.A., Morgan Stanley, Antares Capital, and Crescent Capital.
  • Acreage Announces Senior Secured Term Loan Facility
    November 3, 2020
    Acreage Holdings, Inc. (“Acreage”) (CSE:ACRG.A.U, ACRG.B.U), (OTCQX: ACRHF, ACRDF) today announced it has received initial commitments and funding from a syndicate of lenders (the “Lenders”) for a first advance of $28 million pursuant to a Senior Secured Term Loan Facility (the “Facility”). The Facility has an annual interest rate of 15% with a maturity of 48 months from closing.
  • TAB Bank Provides Diff Eyewear a $4 Million Revolving Credit Facility
    November 3, 2020
    TAB Bank is pleased to announce it has entered into a multi-year agreement with Diff Eyewear to provide a $4 million revolving credit facility. The facility was used to refinance the company’s existing senior debt and provide for the company’s ongoing working capital needs as it continues to expand the reach of its growing brand.
  • The Dixie Group Announces New Senior Credit Facility
    November 3, 2020
    The Dixie Group, Inc. (NASDAQ:DXYN) today announced the successful negotiation of a $75 million, five year, senior secured revolving credit facility with Fifth Third Bank National Association providing for borrowing based on percentages of values of the Company's accounts receivable and inventory, and secured by a first priority interest in the Company's accounts receivable and inventory. Maturing five years from the date of close, the Fifth Third facility will replace the Company's current secured credit facility with Wells Fargo Finance scheduled to mature in 2021. Availability under the new arrangement will be approximately $45 million as of October 30, 2020.
  • Bankruptcy Filings Fall Sharply for Second Straight Quarter
    November 3, 2020
    Despite continued high unemployment related to the coronavirus (COVID-19) pandemic, personal and business bankruptcy filings fell 21.1 percent for the 12-month period ending Sept. 30, 2020, according to statistics released by the Administrative Office of the U.S. Courts. Annual bankruptcy filings totaled 612,561, compared with 776,674 cases in the year ending Sept. 30, 2019.
  • C-Suite Consumer Products Expert Elizabeth Stephenson Joins AlixPartners as a Managing Director
    November 3, 2020
    AlixPartners, the global consulting firm, announced today that Elizabeth Stephenson, a seasoned C-suite executive with comprehensive experience leading global businesses and consumer brands through periods of transition, has joined as a Managing Director. She will be based in Los Angeles. Elizabeth brings more than 20 years of leadership and operations experience, including most recently five years at The Wonderful Company LLC (TWC), one of the fastest-growing consumer packaged goods companies in North America.
  • Wells Fargo Company Names Head of Diverse Segments, Representation and Inclusion
    November 3, 2020
    Wells Fargo & Co. said Monday that Kleber Santos will be the head of its new diverse segments, representation and inclusion group. Mr. Santos will join the company on Nov. 9, Wells Fargo said. He joins the company from Capital One, where he was most recently president of retail and direct banking, Well Fargo said.
  • Express Trade Implements Multi-Tranche Facility
    November 3, 2020
    Express Trade Capital, Inc., is pleased to announce a new multi-tranche facility for a New York-based client producing Moroccan condiments. This client has been with Express since June 2015. They began with a factoring facility and, as their sales rapidly grew, so did the need for more funding and services. Having already built a strong relationship over the years, when an opportunity arose to substantially expand their operations facility by 35%, we added an accordion feature to bolster their facilities.
  • Flatbay Capital LLC Closes $2.8MM CRE Loan for Apparel Manufacturer
    November 3, 2020
    Flatbay Capital LLC (“Flatbay”) (www.flatbay.com) announces the closing of a $2,800,000 commercial real estate loan for a national school apparel manufacturer and distributor. The deal was referred to by an asset-based lender and partner of Flatbay who focuses primarily on non-CRE collateral. The client’s working capital line of credit with a large national bank was up for renewal, and although their cash flow position was strong, the bank required a partial pay down to limit exposure.
  • CohnReznick Named Best Audit Firm in Hedgeweek 2020 US Awards
    November 3, 2020
    CohnReznick LLP, one of the leading advisory, assurance, and tax firms in the United States, today announced that Hedgeweek, a major global publication covering hedge fund industry news for investors and fund managers, has recognized CohnReznick as the Best Audit Firm in its 2020 US Awards program. Award winners were notified last evening and invited to attend a virtual awards ceremony and networking event.
  • Second Avenue Capital Partners Supports the Successful Restructuring and Continued Success of Old Time Pottery With Credit Facility
    November 3, 2020
    Old Time Pottery, a Tennessee-based home décor retailer with stores throughout the Southeast and Midwest, has entered into a Senior Secured Credit Agreement agented by Second Avenue Capital Partners (“SACP”) and CIT Northbridge. Proceeds from the credit facility will be used as exit financing, enabling Old Time Pottery’s emergence from a restructuring process and positioning the company for long-term success.
  • TESSCO Technologies Announces New $75 Million ABL Facility, Extending Maturity to 2024
    November 2, 2020
    TESSCO Technologies Incorporated (NASDAQ: TESS), a leading value-added distributor and solutions provider for the wireless industry, today announced that it has entered into a new asset-based revolving credit facility (“ABL Facility”). The new facility provides TESSCO with up to $75 million in revolving credit, maturing in January 2024. This replaces the existing ABL facility, which was set to mature on October 19, 2021.
  • Tecnoglass Announces New $300 Million Credit Facility
    November 2, 2020
    Tecnoglass, Inc. (NASDAQ: TGLS) (“Tecnoglass” or the “Company”), a leading manufacturer of architectural glass, windows, and associated aluminum products for the global commercial and residential construction industries, today announced it has entered into a new $300 million Senior Secured Credit Facility (“Credit Facility”), consisting of a $250 million delayed draw term loan and a $50 million committed revolving credit facility, with a maturity date in 2025. The Credit Facility has an accordion feature allowing the Company to increase the borrowing capacity to $325 million. BBVA USA acted as Administrative Agent, with Citizens Bank, N.A., ING Bank N.V., and Sabadell Bank acting as Joint Lead Arrangers for the Credit Facility.
  • Bank of America Business Capital Names New National Marketing Manager
    November 2, 2020
    Bank of America Business Capital is pleased to announce that Adam Moss has been named National Marketing Manager and will oversee a team of business development officers who provide asset-based solutions and banking products to large and middle market companies, intermediates and financial sponsors across the U.S. and Europe.
  • eCapital Corp. Promotes Tony Howard to Chief Credit and Portfolio Officer
    November 2, 2020
    eCapital Corp. (“eCapital”), a leading alternative finance provider in North America, today announced that Tony Howard, formerly chief credit officer, has been named chief credit and portfolio officer of eCapital Corp. In his expanded role, Howard will oversee and manage credit risk and policy and portfolio performance across the company and participate in acquisition initiatives. The announcement underscores eCapital’s commitment to unifying and aligning its business operations.
  • Huntington Business Credit opens West Coast Asset Based Lending Offices in Los Angeles, San Francisco and Portland; Experienced Bankers to Oversee Regional Location
    November 2, 2020
    Huntington Business Credit opened three new Asset Based Lending offices located in Los Angeles, CA, San Francisco, CA and Portland, OR, to originate and manage new banking relationships in the Western U.S market. Huntington Business Credit hired Tab French, Robert Alexander, Martin Valencia, David Lehner and John Kolb; industry veterans with significant banking and asset-based lending experience.
  • North Avenue Capital Provides $7.5 Million in USDA Funding to Ranger Scientific, LLC
    November 2, 2020
    Ranger Scientific has been in research and development of its product since 2016 and will be ready to begin manufacturing and selling into the market by Spring of 2021. They plan to manufacture ammunition for various calibers of rifles that are over twice as accurate, at the same price. Given the unprecedented impact of the pandemic and historic levels of unemployment, Ranger Scientific will be creating jobs and generating meaningful economic development with a product for which demand is on the rise.
  • Portman Ridge Finance Corporation Closes Merger with Garrison Capital Inc.
    November 2, 2020
    Portman Ridge Finance Corporation (Nasdaq: PTMN) (the “Company” or “PTMN”) and Garrison Capital Inc. (formerly Nasdaq: GARS) (“GARS”) announced today the closing (the “Closing”) of the previously announced transaction under which GARS will be merged into PTMN. Simpson Thacher & Bartlett LLP served as counsel to PTMN. Keefe, Bruyette & Woods, A Stifel Company served as exclusive financial advisor to the Special Committee of GARS’ Board of Directors. Proskauer Rose LLP served as counsel to GARS and Eversheds Sutherland (US) LLP served as counsel to the Special Committee of GARS’ Board of Directors.
  • Oaktree Specialty Lending Corporation and Oaktree Strategic Income Corporation Announce Entry into Merger Agreement
    November 2, 2020
    Oaktree Specialty Lending Corporation (NASDAQ:OCSL) (“OCSL”) and Oaktree Strategic Income Corporation (NASDAQ:OCSI) (“OCSI”) today announced that they have entered into an agreement to merge together with OCSL as the surviving company, subject to stockholder approval and customary closing conditions. Keefe, Bruyette & Woods, a Stifel Company, served as financial advisor and Stradley Ronon Stevens & Young, LLP serves as the legal counsel to the special committee of OCSL. Houlihan Lokey Capital, Inc. served as financial advisor and Dechert LLP serves as the legal counsel to the special committee of OCSI. Proskauer Rose LLP serves as the legal counsel to OCSL, OCSI and Oaktree.
  • ProntoForms Announces $6 Million Revolving Credit Facility and Warrant Proceeds of $1.96 Million
    November 2, 2020
    ProntoForms Corporation (“ProntoForms” or the “Company”) (TSXV: PFM), the global leader in field-focused low-code application platforms for enterprise, announced today that it has entered a revolving credit facility with Toronto-Dominion Bank (“TD”) for an amount of up to CAD $6 million with a 2-year commitment renewable annually. The facility was partially used to settle the Company’s obligations to BDC Capital Inc. ("BDCC"), a wholly owned subsidiary of the Business Development Bank of Canada.
  • Pacific Drilling Commences Voluntary Chapter 11 Proceedings; Restructuring Support Agreement to Eliminate All $1.1 Billion of Bond Debt
    November 2, 2020
    Greenhill & Co. is acting as financial advisor, Latham & Watkins LLP and Jones Walker LLP are serving as legal counsel, and AlixPartners is acting as restructuring advisor to Pacific Drilling in connection with the restructuring. Houlihan Lokey is acting as financial advisor and Akin Gump Strauss Hauer & Feld LLP is acting as legal advisor to the noteholders.
  • DFG Investment Advisers Appoints Rehan Virani Chief Executive Officer
    November 2, 2020
    DFG Investment Advisers, Inc. (“DFG”), a leading alternative credit investment manager, today announced that Rehan Virani has joined the firm as Chief Executive Officer, effective immediately. Mr. Virani will oversee management of the firm, spearhead strategic fundraising initiatives and develop tailored investment solutions that align investors’ interests with DFG’s core competencies in structured and corporate credit. Mr. Virani most recently served as Head of Business Development for private debt for the Americas and Asia at Partners Group.
  • Citizens Advises KBR, Inc. on its Acquisition of Centauri
    November 2, 2020
    Citizens M&A Advisory served as lead M&A advisor to KBR, Inc. (NYSE: KBR) on its acquisition of Centauri, LLC from Arlington Capital Partners in a transaction valued at approximately $800 million. KBR is a global provider of differentiated professional services and solutions across the asset and program life cycle within the government solutions and technology sectors. KBR employs approximately 28,000 people worldwide with customers in more than 80 countries and operations in 40 countries.
  • Celtic Capital Corporation Provides $2.5 Million to Manufacturer of High-volume, Low-speed Industrial Ceiling Fans
    November 2, 2020
    Celtic Capital Corporation today announced its most recent new client relationship – a California-based manufacturer of high-volume, low-speed industrial ceiling fans. This 13-year old family-owned business was asked by its bank to seek alternative financing due to loan covenant violations.
  • Tiger Group Auctioning Inventory and Equipment from Wholesaler of Promotional Apparel and Hardgoods on Nov. 12
    November 2, 2020
    Tiger Group will be conducting online auction on November 12 of textile embellishment and warehouse equipment, blank inventories of apparel and hardgoods, and intellectual property of a wholesale supplier of custom-designed promotional products for the giftware and tourism industries that is now winding down operations.
  • CIBC Innovation Banking Announces Growth Capital Facility for Crunchbase
    November 2, 2020
    CIBC Innovation Banking is pleased to announce a growth capital facility for San Francisco-based Crunchbase Inc. (“Crunchbase”), a leading provider of private-company prospecting and research solutions. Crunchbase's existing investors include OMERS Ventures, Emergence, Mayfield, Cowboy Ventures, and Verizon.
  • Cyprium Partners Completes Subordinated Debt Investment in Kustom US, Inc.
    November 2, 2020
    Cyprium Partners has completed a subordinated debt investment in Kustom US, Inc., to support the acquisition of Zion Restoration Inc. and provide capital for future acquisitions. This recent investment from Cyprium Investors V, marks the group's 92nd investment during its 22-year history and second since the beginning of the COVID-19 crisis.
  • Funding U Closes $14M Debt/Equity Round With Goldman Sachs as Provider of Credit Facility
    November 2, 2020
    Funding U, a financial technology company serving high-performing, underrepresented college students, has closed a $14 million debt/equity round and has added Goldman Sachs Urban Investment Group to its roster of credit providers, with a $10 million line of credit. Investors providing $4 million in equity include Deciens Capital, Valor Ventures, MacKenzie Scott, Next Act Fund LLC and The JumpFund.
  • Santander Bank Provides $50 Million Revolver to DB Energy Assets
    November 2, 2020
    Santander Bank today announced that its Commercial Banking division provided a $50 million revolving loan to DB Energy Assets, LLC (“DBE”) to support the expansion of its portfolio through the acquisition of an additional operating energy facility in Delaware. The revolver enabled DBE, an operating portfolio of well-established, long-term contracted district energy systems and cogeneration assets, to access the necessary funds to complete the acquisition and cover related expenses.
  • Fifth Third Business Capital Provides Senior Debt Financing for ARC Group Worldwide
    November 2, 2020
    ARC Group Worldwide, Inc. offers its customers a compelling portfolio of advanced manufacturing technologies and cutting-edge capabilities to improve the efficiency of traditional manufacturing processes and accelerate their time to market.  In addition to being a world leader in metal injection molding, ARC has significant expertise in prototyping, advanced tooling, automation, machining, plastic injection molding, lean manufacturing, and robotics. ARC's mission is to bring innovation and technology to manufacturing.
  • SSG Advises Metal Partners Rebar, LLC and its Affiliates in the Sale of Substantially all of its Assets
    November 2, 2020
    SSG Advisors, LLC ("SSG") acted as the investment banker to Metal Partners Rebar, LLC and its affiliates (collectively "MPR" or the "Company") in the sale of substantially all of its assets to JRC OpCo LLC ("JRC"). The sale was effectuated through a Chapter 11 Section 363 process in the U.S. Bankruptcy Court for the District of Nevada. The transaction closed in October 2020.
  • Gemino Healthcare Finance Provides $15 Million to an Infusion Therapy Provider
    November 2, 2020
    Gemino Healthcare Finance is pleased to announce it has provided a $15 million asset-based revolving line of credit to an infusion therapy provider in September 2020.
  • 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