Articles

The COVID-19 crisis of 2020, like a stress test for businesses and funders, created a landscape of winners and losers. For those passing the test, there are more lending options and potential buyers as M&A activity begins to sprout.

Some had a good “runway” ahead of the regional lockdowns; they were already digital companies or were well capitalized. Others enjoyed being in high-demand sectors such as groceries, technology, home goods, outdoor products, and delivery transportation.

For those companies that were well positioned or adapted quickly, business growth continues, and for those more challenged due to business restrictions, secured finance has been invaluable, along with government rescue loans. This was a repeated theme throughout the annual SFNet Convention held virtually November 17-19. This article covers many of the 34 presentations on the theme: “This Way Forward.”

A Moritt Hock & Hamroff partner discusses the potential legal implications for companies that are not committed to diversity and inclusion as increasing shareholder pressures and legal complaints mount.

CELEBRATION, FL (December 14, 2022) – AmeriFactors Financial Group, LLC, provided $60,000,000 in accounts receivable financing to a communications contractor to assist their business through a heavy growth stage. The client will be building out the infrastructure for a large telecom company. Along with increasing their available capital, they will have the advantage of AmeriFactors accounts receivable management services.

LSQ, a leading provider of technology-driven working capital solutions, announced that the company originated a $7.5 million AR facility, including a $3.1 million payoff to the first position lender, for a resurging marketing services firm.

Demand for the firm’s services is normalizing following a COVID-related revenue slump in 2020. It will now have sufficient capital to fulfill a growing number of orders and 2021 business development goals via this new, larger facility with LSQ.

Mitsubishi UFJ Financial Group (MUFG), one of the world's leading financial groups, today announced that it has hired Rajesh "Raj" Kapadia as International Head of Capital Markets. Mr. Kapadia will be responsible for the oversight, operation, and growth of MUFG's Capital Markets business globally, including debt and equity capital markets and leveraged finance.

Goldman Sachs & Co. LLC is serving as financial advisor to Huntington.  Wachtell, Lipton, Rosen & Katz is serving as legal advisor to Huntington.

Keefe, Bruyette & Woods, a Stifel Company, is serving as financial advisor to TCF.  Simpson Thacher & Bartlett LLP is serving as legal advisor to TCF.

White Oak Commercial Finance ("White Oak") closed a working capital credit facility with Mana Products Inc. ("Mana"), a developer and manufacturer of high-end beauty products based in New York, at the end of the first quarter.

The innovative beauty products company has been in business for over 40 years developing formulas for some of the world’s leading beauty brands and was recently acquired by Traub Capital, an experienced private equity firm specialized in building value in consumer companies. The funding will support Mana’s growth and market opportunities.

(Editor’s Note: This is the beginning of a new interview series by Charlie Perer of SG Credit Partners.)

In this installment of our series of executive interviews, Charlie Perer sits with Ken Pardue to understand his plans to grow Triumph, the pace of change in the ABL business and state of the market, among other things.

Cross-border loan workouts and enforcement of security interests across multiple jurisdictions is a complex matter and greatly depends on the venue of the insolvency and the location of the collateral. These factors are also intertwined with the overall reach of the credit facility. A deep understanding of the multiplicity of issues that may arise during a workout or insolvency can not only enhance a lender’s ability to be made whole in an enforcement scenario, but can also create opportunity for liquidity providers to expand their geographic offerings and create unique value for their global borrowers.

Conducive factors include high market liquidity, low interest rates, accommodative Fed policy and a vaccination against COVID-19

The year 2021 is shaping up to be a strong and supportive one for leveraged finance, led primarily by merger-and-acquisition (M&A) and refinancing activity, according to the Capital Markets group at Mitsubishi UFJ Financial Group (MUFG). 

Key members of the group delivered their outlook for leveraged finance to reporters and editors at a virtual MUFG media roundtable earlier this month that featured Jeffrey Knowles, Co-Head of Debt Capital Markets; Grant Moyer, Head of Leveraged Capital Markets; and Art de Peña, Head of Loan Syndications and Distribution.

The last 18 months have brought challenges unlike no other. Stewart Hayes, chair of the SFNet 2021 40 Under 40 Awards and managing director, Wells Fargo Capital Finance, sat down with four former SFNet 40 Under 40 Award winners who led their company or group practice during 2020-2021 to dive into how they addressed challenges, what helped prepare them to weather the COVID crisis, and advice on handling the next curveball.

Greg Eck and Bill Stapel are the new leaders of the ABL Group at Fifth Third Bank, N.A., one of the nation’s largest asset-based lenders, with $8.1 MM in commitments and serving customers in 38 states, Canada and Europe. They step into their roles following the retirement of Fifth Third Business Capital President Mike Sharkey, who was also past president and chairman of Secured Finance Network.