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SFNet to Host “Navigating the End of LIBOR: Recent Developments and Market Updates” Webinar Tomorrow
SFNet will host a webinar tomorrow, May 21, from 12:00 p.m. – 1:00 p.m., EDT titled "Navigating the End of LIBOR: Recent Developments and Market Updates." This webinar is free for employees of SFNet member organizations and $95 for non SFNet members.
As we approach December 31, 2021, the financial markets are closer to the end of LIBOR for most currency and tenor settings. This webinar will provide important updates regarding LIBOR transition, including the extension of U.S. Dollar LIBOR for the dominant tenors to June 30, 2023, developments on SOFR and other overnight RFRs to replace IBOR rates and the emergence of certain “credit sensitive rates.” Panelists will also discuss recent developments impacting fallback provisions in documentation, including for business loans and derivatives, as well as the status of the New York State and Federal LIBOR discontinuation legislation.
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Vivint Smart Home Successfully Completes Refinancing Transactions
Vivint also announced that, concurrently with the Notes offering, the Issuer refinanced its existing credit facilities with (i) a new $1,350.0 million first lien senior secured term loan facility maturing in 2028 (the “New Senior Secured Term Loan Facility”) and (ii) a new $370.0 million senior secured revolving credit facility maturing in 2026 (the “New Senior Secured Revolving Credit Facility” and, together with the New Senior Secured Term Loan facility, the “New Senior Secured Credit Facilities”), with lenders party thereto and Bank of America, N.A. as a lender, administrative agent and collateral agent.
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Gerber Finance Closes New Deal Under its Naturally Gerber Division
Gerber Finance, an eCapital company and leading finance partner for companies experiencing accelerated growth, today announced it closed a $6MM line of credit to natural products company, Puracy, a plant-based personal care and cleaning products company. The deal was managed under the Naturally Gerber Finance division, which works with companies within the fast-growing natural products space, from clean label, organic and non-GMO products, to sustainable design and packaging.
The Secured Lender
SFNet's 40 Under 40 Awards Issue
