New Fortress Energy LLC (NASDAQ: NFE) ("New Fortress" or the "Company") announced today that it has executed a fully committed $800 million term loan facility (the "Term Loan Facility") provided by certain funds and accounts managed by affiliates of Apollo Global Management, Inc. (together with its consolidated subsidiaries, "Apollo") (NYSE: APO).

Joseph Nemia looks back at 2019 and discusses what the secured finance industry can expect to see in 2020.

A Demica senior director explains how trade receivable securitization programs can be used as a valuable alternative to other funding solutions, especially in cross-border or challenging credit environments.

At 33 years old, Shauna was diagnosed with breast cancer - a head-spinning diagnosis for anyone, but especially a new mother at 33 who considered herself fairly healthy. Then came the draining, life-sapping chemo that would save her life, but leave her feeling weak and malnourished

Huntington Business Credit announced it closed a new $20,000,000 credit facility with Vista Pipe and Supply, LLC on December 6, 2019. Proceeds of the facility were used to refinance existing debt and provide ongoing working capital growth financing. 

Siena Lending Group LLC (“Siena”) announces the closing of a three-year $9.0 million revolving credit facility for the subsidiaries of Interactive Health, Inc., Human Touch LLC and Relax the Back Corporation. The asset-based credit facility was used to refinance existing debt and provide additional working capital to support business growth.

Current headwinds affecting asset-based lending (ABL) portfolios and emerging opportunities and challenges in various industry sectors are on the agenda at the Secured Finance Network (SFNet)  Asset-Based Capital Conference 2020 Feb. 4-5 in Las Vegas.

Shared workplace operator WeWork said on Tuesday it has arranged a $1.75 billion letter of credit with Goldman Sachs (GS.N) that is in the process of being syndicated and whose funds are expected to be available in January.

The credit line is part of SoftBank Group Corp’s (9984.T) $9.5 billion bailout that was announced in October when money-losing WeWork was on the brink of running out of cash after its plans to go public were abruptly withdrawn a month earlier.

Citizens Commercial Banking announced today that it is providing a $42 million asset-based credit facility to New York-based Stoli Group USA, an importer, marketer and distributor of Stolichnaya vodkas, along with other spirits and wines in the United States. Citizens is the sole lender.

Recently, People's United Bank, N.A., a subsidiary of People's United Financial, Inc., announced it had expanded its Commercial Specialty Business with the formation of a dedicated Lender Finance team. The Team is led by Patrick Lee, managing director, head of Lender Finance, and is an extension of the Bank's existing Asset-Based Lending group. The Team will work with non-bank lender finance companies nationally to provide tailored solutions of $10MM or more to help them achieve their near and long-term growth objectives.

Here, Patrick Lee discusses his background and new role.

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The $10 billion unsecured revolving credit facility consists of a five-year, $8 billion revolving credit facility, and a one-year, $2 billion facility. Each facility includes two one-year extension options at the discretion of each lender. Bank of America and Barclays Bank acted as joint coordinators for the facility.