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Bank of America, Goldman Sachs and Credit Suisse acted as Joint Bookrunners and Joint Lead Arrangers on the New Term Loan. Bank of America is the Administrative Agent. Additional details on the New Term Loan may be found in the Form 8-K to be filed with the Securities and Exchange Commission.

BHI, a full-service commercial bank led by CEO Gil Karni, announced a restructuring of the bank’s business team to accommodate its current growth, fulfill the execution of BHI’s strategic plan, position the bank for further expansion and reinforce its industry expertise in specific sectors.

John Yoler, Executive Vice President and Division Executive, has been appointed Head of BHI Commercial & Industrial, overseeing BHI’s C&I teams in New York, New Jersey, Florida and California.

Santander Bank today announced that its Commercial Banking division closed a $25 million term-loan facility on behalf of Horizon Group USA. Santander acted as sole lead arranger for the transaction. Horizon Group, headquartered in Warren, New Jersey, is a craft and toy supplier with a customer base that includes major retail chains such as Walmart, Target, Costco, Amazon and Michaels. The financing will help Horizon Group monetize the significant growth in its value over the past few years.

Backed by Silicon Valley Bank, Goldman Sachs and Comerica Bank, TripActions secures up to $500 million debt facility to launch first-of-its-kind, end-to-end global corporate travel management and payments solution.

The third quarter saw continued confidence in the asset-based lending market, according to data released by the Secured Finance Network, and that was welcome news as the country wrestles with inflation, rising interest rates and a slowed economy.

SFNet surveyed bank and non-bank asset-based lenders (ABLs) on key indicators for its quarterly Asset-Based Lending Index and SFNet Confidence Index.  

“Despite the challenges, the asset-based lending industry remains on solid footing,” said SFNet CEO Richard D. Gumbrecht. “Portfolio performance is strong by historical standards, commitments are up, and lenders anticipate strong demand. Overall, the industry is decently-positioned to weather worsening business conditions and a potential recession.”

The thing I love most about stoicism is the ability to combine its philosophy at work and home.  Most people, myself included, do not truly look at themselves dispassionately in either setting.  We are great, we are smart, we are everything someone should be and capable of everything; until we are not.  I experience this recently when I had to look deep inside myself and acknowledge that like all people, I am flawed and have weaknesses.  Most people overestimate their skills while failing to give themselves credit for what they are really great at.  When you truly understand who you are, you will be better at every aspect of your job.  What does this have to do with lending, you might ask; patience is another stoic virtue.

JPMorgan Chase Bank, N.A. acted as sole global coordinator for the marketing of the Term Loan Facility. PJT Partners is serving as independent financial advisor to the Company.

Mac Fowle is the global head of Asset-Based Lending (ABL) for J.P. Morgan Commercial Banking. He is responsible for the end-to-end strategic leadership of the ABL group in supporting the financing needs for clients across Commercial Banking and the Corporate & Investment Bank (CIB).

In this installment of our series of executive interviews, Charlie Perer sits with Tim Knight (pictured) to hear his perspective on executive development, advice for lenders, the growth in the non-bank market, what every executive should be thinking about, the importance of diversity and lessons learned, among other things.

Knight is the vice president and senior managing partner with ThinkingAhead where he is responsible for operations, training and recruiting for the firm. He also leads the partner group that heads up the firm’s Commercial Banking and Commercial Finance, Legal, Life Sciences and Security/Physical infrastructure search practices.

LBC Small Cap, an affiliate of LBC Credit Partners, provided a senior secured term loan and equity co-investment to support the acquisition of Auchinachie by Astar Heating & Air ("Astar"), a portfolio company of Dubin Clark & Company ("Dubin Clark").

New to working from home? Check out a few quick tips from ENGS Commercial Finance to help transition from working in-office to working at home.

Winston & Strawn LLP is pleased to announce the addition of Rachel Gray as a partner in the firm's New York office and a member of the Leveraged Finance team where she will play a key role in the expansion of the firm's lender designation practice in both the mid and large cap markets.

Rachel is an experienced attorney with insight into both the borrower and lender sides of complex leveraged finance transactions. Rachel represents top-tier private equity sponsors and their portfolio companies in connection with a wide range of transactions, including leveraged buyouts, take-private deals, dividend recapitalizations, out-of-court restructurings and refinancings.