First Eagle Investments ("First Eagle") today announced a definitive agreement to acquire Napier Park Global Capital ("Napier Park"), a leading alternative credit manager with approximately $18.7 billion in assets under management as of December 31, 2021, predominantly for institutions through credit funds, US and European collateralized loan obligations, and real assets. As an autonomous, wholly owned unit of First Eagle Investments, Napier Park will go to market as "Napier Park, a First Eagle Investments Company" and maintain its investment approach, business focus and client service.

A total of 15 lenders participated in the amended revolving credit facility, including JP Morgan Chase Bank, N.A. as a Joint Bookrunner, Joint Lead Arranger, Administrative Agent and J.P. Morgan Securities LLC as Sustainability Structuring Agent. Wells Fargo Securities, LLC and Truist Securities, Inc. served as Joint Bookrunners and Joint Lead Arrangers. 

CIT Northbridge Credit, as advised by CIT Asset Management, and Tiger Finance today announced they have arranged up to $47 million in financing for a leading e-commerce seller of branded consumer products.

The financing consists of a $30 million revolving credit facility provided by CIT Northbridge, a $5 million term loan provided by Tiger Finance, and an accordion for up to an additional $12 million. The loans will be used to support the client’s inventory needs and provide capital for future growth opportunities.

On March 18, SFNet hosted a Webinar, “Cybersecurity: Evaluating and Mitigating Borrowers' Risk to Cyber Breaches”. It discussed current trends in cyber threats to commerce and the potential impact to borrowers, and the steps lenders and borrowers can take to guard against and mitigate and recovery from cyber-attacks or data breaches. Panelists focused on due diligence steps lenders should consider in assessing risk and the steps they may need in their lending agreements.

Tina Capobianco, senior vice president, J D Factors served as moderator. Panelists included Thomas J. DeMayo, principal, Cybersecurity and Privacy Advisory, PKF O'Connor Davies, LLP; Steven Teppler, of counsel, Mandelbaum Barrett P.C. and Louis Natale, chief credit officer, White Oak Commercial Finance. PFK Clear Thinking and White Oak Commercial Finance sponsored the webinar.

LSQ, a leading provider of technology-driven working capital financing and payments solutions, announces the hire of DJ Krystopa as its new Regional Vice President for Sales and Bank Partnership Development. In her role, Krystopa, an alumna of La Salle University, is responsible for building strategic relationships with financial institutions and referrer networks to help LSQ grow its offerings to its clients.

White Oak Global Advisors, LLC (“White Oak”), announced it arranged and closed a $100 million term loan to support the acquisition of a large US-based multi-channel IT services provider by a Canadian IT services platform. White Oak’s term loan alongside a $40 million asset-based credit facility provided the platform business with an efficient and holistic funding solution.

CIT, a division of First Citizens Bank, today announced that it is launching a new lending and leasing vertical focused on financing fleet golf cars, turf (grounds care) equipment, utility vehicles and similar equipment.

Golf & Turf is part of CIT’s Business Capital group, which is already a national leader in equipment financing solutions for small and mid-size businesses across a wide range of market sectors, including technology, office imaging, printing, construction, industrial and many others.

Arena Investors, LP (“Arena”) and Encina Lender Finance, LLC (“ELF”) are pleased to announce the closing of a $300 million credit facility (which includes an accordion feature) for Arena’s Corporate Private Credit business segment, which provides capital to privately-held companies.

Siena Lending Group LLC ("Siena"), a leading independent asset-based lending company, today announced it has increased its senior credit facility with Wells Fargo Capital Finance to $575 million. This upsize will enable Siena to continue its growth following a historic year where they closed over $565 million in facilities across 20 relationships.

Eileen Kowalski is SVP and manager of Training, Development, Quality Control, Recruiting and Diversity & Inclusion for PNC Business Credit.

Kowalski is a 30-plus year veteran of commercial finance and asset-based lending. She is integral to PNCBC’s Field Exam training program and to the team tasked with developing talent for PNCBC. Eileen joined PNCBC in 2004 as an AVP & Senior Field Examiner after serving as a Field Examiner for a predecessor bank of M&T Bank and an AVP & Senior Field Examiner with LaSalle Bank. Eileen’s responsibilities also include field exam quality control, campus and experienced hire recruiting activities and she serves as editor-in-chief for the quarterly PNCBC employee newsletter. She chairs the Business Credit D&I Committee and is a member of the C&IB/AMG DEI Council.  Eileen is a member of the SFNet Education Committee, the SFNet DEI Committee and is the SFNet Education Champion for PNCBC. She is also a member of the quarterly WISF Newsletter committee.

Eclipse Business Capital LLC (“EBC”) announced today that it has provided a $15 million senior secured revolving credit facility to a commercial hospitality furniture manufacturer and designer.

The credit facility is secured by accounts receivable and inventory and will be used to refinance an existing facility and to support ongoing working capital.

Lexicon Pharmaceuticals, Inc. (Nasdaq: LXRX) today announced it entered into a loan facility with Oxford Finance LLC that provides up to $150 million in borrowing capacity designed primarily to support commercial preparations and the potential launch of sotagliflozin in heart failure.

White Oak Healthcare Finance, LLC (“White Oak”) announced today that it acted as sole lender and administrative agent for a $395 million senior credit facility to Genesis Healthcare, Inc. (“Genesis”).

With roots dating back to 1985, Genesis is a holding company with subsidiaries that, on a combined basis, offer services to more than 250 skilled nursing facilities and assisted/senior living communities in 22 states nationwide. Genesis affiliates provide high-quality post-acute care, long-term care and assisted/senior living services in the local markets in which they serve.

Ikhwan Rafeek is a Member in the Otterbourg P.C.’s Banking and Finance Department.

Ikhwan represents institutional lenders, banks, commercial finance companies, and factors in connection with the documentation of domestic and international secured lending arrangements, including asset-based, term loan, healthcare, real estate, middle market, leveraged, and first and second lien loan transactions.  Mr. Rafeek also frequently represents secured lenders in workouts and restructurings, and in portfolio acquisitions and dispositions.

 A New York-based construction design consulting firm was acquired by new owners. They were unable to get funding from their bank due to legal and financial issues that took place under previous ownership. Though their bank had recently exited their loan, their banker knew of Prestige’s unique underwriting capabilities and referred the client to Prestige Capital.

Crestmark, the Commercial Finance Division of MetaBank®, N.A., secured a total of $2,650,000 in ABL/factoring financial solutions for eight new clients; Crestmark Equipment Finance provided $27,844,322 in 26 new transactions; Crestmark Vendor Finance provided $2,624,820 in 25 new small ticket vendor transactions; and the Structured Finance group provided $8,115,000 in financing for two new clients in the second half of February.

Context Business Lending, LLC (“CBL”) a leading family office-backed national asset-based lender, announced today that Joy Hanawa has been named Director of Technology and Data Analytics for the Company. In this role, Hanawa will lead the innovation agenda and technology roadmap for CBL and manage the design and development of additional automation and data analytics tools.

What’s in fashion for factoring this coming spring? Quite a bit. This year’s trends show what we’ve all been keeping under wraps for the last two years, and we’ll be seeing some definite changes.

First up, a cascade of activity with more traditional bank lenders that retained customers during the pandemic based on regulatory allowances and readily available government funding may start pushing out underperforming loans.

White Oak Commercial Finance ("White Oak"), an affiliate of White Oak Global Advisors, is pleased to announce it has promoted five account executives dedicated to serving its national client base across a range of industries in its New York and Los Angeles offices.

In New York, Laquanda Franklin, Ethan Rosenblum, and Teresa Chan were promoted to Senior Vice Presidents. Ryan Power was promoted to Vice President. All members of the New York team report to Executive Vice President Martin Efron. In Los Angeles, Donald Norman was promoted to Senior Vice President and reports to Executive Vice President Gino Clark.

Robert Grbic has more than 30 years of commercial lending experience. He has been with the company and its predecessor since 2005, previously serving as senior executive vice president and chief credit officer where he was involved in creating a hands-on, best-practices credit culture, as well as helping the Company expand its client portfolio.

Before that, Grbic was managing director at MorrisAnderson & Associates ltd., a turnaround-consulting firm. He also co-founded MetSource Capital, LLC, a restructuring and corporate finance firm, working primarily with small- and medium-sized companies. In addition, Grbic has also served at GMAC Commercial Credit, LLC, BNY Financial Corp and Bankers Trust. He has served as an instructor for the Finance, Tax and Law Department at the NYU School of Continuing Education. Grbic holds master’s and bachelor’s degrees in Business Administration from Pace University.