Articles

Siena Lending Group LLC (“Siena”) announces the completion of a $10.0 million asset-based revolving line of credit and term loan for Southwest Spirits & Wine, LLC (“Southwest Spirits”). 

In a priority dispute between a bank and two nurseries, the bank prevailed. The dispute concerned who held the senior lien in over a million dollars’ worth of trees and shrubs in three states. By Samuel R. Henninger

Solaris Water Midstream, LLC (“Solaris Water”), a leading provider of water-related infrastructure to the oil and gas industry, announced today it has increased the size of its revolving credit facility to $350 million from $250 million. Cadence Bank N.A. (“Cadence Bank”) acted as lead arranger and administrative agent with Wells Fargo Bank, National Association (“Wells Fargo”) serving as joint lead arranger.

Five years ago, if you said, “I am on LinkedIn,” people would not have understood what you meant.

Jack in the Box Inc. (NASDAQ: JACK) today announced that certain of its subsidiaries intend to complete a refinancing of the company’s existing senior credit facility, which is comprised of a term loan and revolving credit facility, with a new securitized financing facility.

BB&T Corporation (NYSE: BBT) and SunTrust Banks, Inc., (NYSE: STI) today announced Truist as the name for the combined company to be created through their merger of equals. 

Members of SFNet's 2017 and 2018 40 Under 40 Classes check in to give an update on what they’ve been up to and what has changed since receiving their Award.  By Eileen Wubbe

The Secured Finance Foundation has created a Scholarship and Diversity Committee, which held its organizational meeting during SFNet's Asset-Based Capital Conference in Las Vegas.  By Michele Ocejo

Thomas A. Greco, chief executive officer of Hilco Valuation & Industrial and Gary Epstein, Hilco Global EVP and chief marketing officer, discuss the National Jewish Health Humanitarian Award and the many other ways in which Hilco Global is making a difference through Hilco Helps (www.hilcohelps.com), a program that Epstein branded for all of the firms’ cause-marketing initiatives. 

The Boston Corporate Finance Community (BCFC) was founded by Cheryl Carner, Crystal Financial LLC; Ken Frieze, Gordon Brothers; Keith Vercauteren, Wells Fargo; Ward Mooney, Crystal Financial LLC; and Kevin Murtagh, Riemer & Braunstein LLP.  By Ward Mooney and Kevin Murtagh

Jennifer Palmer, president of Gerber Finance, discusses how philanthropy is front and center in the company’s day-to-day business.  By Michele Ocejo

A leading researcher, author and advisor in the fields of leadership and inclusion offers practical tips for harnessing the power of diverse teams.  By Arin N. Reeves

Several commercial finance executives band together to give former inmates a second chance.  By David Rains

White Oak Global Advisors, LLC (White Oak) is pleased to announce that Thomas (Tom) M. Affolter has joined White Oak as a Managing Director based in Chicago. 

PNC Bank, National Association, announced the closing of a $90 million senior secured credit facility for Iconex LLC (Iconex), a portfolio company of Greenwich, CT-based Atlas Holdings. PNC’s facility was provided in conjunction with a $67.5 million term loan and a $30 million delayed draw term loan provided by Cerberus Business Finance.

Judge Kevin J. Carey (D. Del.; Wilmington) has served on the Bankruptcy Court for the District of Delaware since 2005 (serving as Chief Judge from 2008 to 2011), having first been appointed as a bankruptcy judge for the Eastern District of Pennsylvania in 2001.  By Michele Ocejo

New accounting standards for leases can have unintended consequences on debt covenants and financial ratios in credit agreements. Under the new rules (Accounting Standards Codification Topic (“ASC”) 842 and International Financial Reporting Standard (“IFRS”) 16), nearly all operating leases, in addition to finance leases (formerly, capital leases), are required to be recognized as a liability on the balance sheet of a lessee if the lease term is greater than twelve months.

Gordon Brothers, the global advisory, restructuring and investment firm, continued expanding its presence in Australia with the opening of a Perth office in January. The office is led by equipment valuation and auction industry veteran, Ben Gibson and will support the firm’s increasing activity across Western Australia. The Perth location is the third Australian office opening in two years for Gordon Brothers, which entered the market in 2017. 

The Secured Lender caught up with three of Gordon Brothers’ Australian executives who discussed the potential for ABL in Australia and the firm’s plans moving forward.

Executives from Gordon Brothers offer tips for recovery in this complicated global environment.  By Duncan Ainscough, Fenton Healy, and Rafael Klotz