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  • New Fortress Energy Announces $800 Million Term Loan Facility

    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).

  • Second Avenue Capital Partners Provides $35 Million Facility Supporting the New Sur La Table
    Second Avenue Capital Partners, LLC (“SACP”) (www.secondavecp.com) announced it has provided a $35,000,000 senior secured credit facility to a joint venture of Marquee Brands and CSC Generation in support of their newly acquired luxury kitchenware retailer Sur La Table. Proceeds from the transaction are being used to provide additional working capital and support growth.
  • LendingPoint Closes $250 Million Credit Facility Arranged by Guggenheim Securities

    The credit facility has an accordion feature, which allows the Company to increase the size of the credit facility to up to $500 million. On the closing date, the Company drew down $215 million of notes from the credit facility.

  • Wingspire Capital Provides $40 Million Senior Secured Financing to XL Funding

    XL Funding provides floorplan loans to auto dealers in more than a dozen markets, and will use the funding to refinance a previous bank loan and extend capital to more small and medium-sized dealers in populous states including California, Texas and Florida.

    Wingspire was attracted to XL Funding’s position of strength as consumers pursue affordable pre-owned automobiles amid the uncertain economy and a desire for “private” transportation during the coronavirus pandemic.

  • White Oak Delivers $10MM ABL Facility to Veteran-Owned Engineering Firm
    White Oak Commercial Finance, LLC (“White Oak”), an affiliate of White Oak Global Advisors, LLC, announced its Government Contracting Finance arm provided a $10 million asset-based lending facility to a veteran-owned engineering firm contracting with the New York City Housing Authority. The facility was secured by the firm’s billed accounts receivable and its earned-but-unbilled accounts receivable. The funds will be used for working capital.
  • Anatomy of a Deal: Special Situations, Split-Lien Term Loan with a Bank ABL
    In the course of two weeks, SG Credit Partners (formerly Super G) went from first phone call to closing a complicated split-lien deal with a major bank ABL group. When you tell someone “we just closed another multi-lender transaction in less than two weeks,” the level of complexity, determination, and teamwork required to accomplish such a task, is rarely understood. This transaction provided a pay down to the senior lender, provided for critical payments to vendors and created liquidity for the company’s investment bank to run a refinancing process. Like most special-situation transactions, the initial loan was just the start, not the end. This Anatomy of a Deal will attempt to highlight the role of a non-bank credit fund, SG Credit Partners, partnering with conforming ABL.
  • Hard-hit Industries Vie for a Piece of Massive Fed Lending Program

    More than a week after Congress approved the largest fiscal stimulus in U.S. history, many companies still don't know if it will provide the financial lifeline they need to stay afloat.

    Since the legislation passed on March 27, industry groups have been pressing policymakers to ensure a large chunk of their firms can actually benefit from a major lending program at the heart of the new law. Under the CARES Act, the Treasury is getting $454 billion in funds to provide credit protection for the Fed's emergency lending operations, a backstop expected to lead to about $4.5 trillion in Fed lending.

  • People's United Bank Provides $57.5 Million Credit Facility for ReNew REIT

    People's United Bank, N.A., a subsidiary of People's United Financial, Inc. (NASDAQ: PBCT), announced its Healthcare Finance and Capital Markets Divisions provided a $57.5 million Credit Facility to ReNew REIT, a privately held healthcare real estate investment trust (REIT) formed in 2018 that focuses on independent living, assisted living and memory care communities.

    The facility provides ReNew and its joint venture partner, Heritage Senior Living, with capital to acquire a senior living campus in Douglassville, PA.  

  • Hilco Global Acquires Getzler Henrich, Adding the Nationally Recognized Corporate Turnaround and Restructuring Advisory Firm to its Diversified Financial Services Platform

    Hilco Global (www.hilcoglobal.com), the privately held diversified financial services company delivering valuation, monetization, advisory and capital solutions to businesses around the world, announced today that it has entered into a definitive agreement to acquire the New York based firm - Getzler Henrich & Associates LLC ("Getzler Henrich”) (https://getzlerhenrich.com).

    Getzler Henrich is a 53-year-old nationally recognized turnaround and restructuring advisory firm that focuses on providing operational and financial solutions to middle-market businesses and their stakeholders.

  • LBC Credit Partners Supports the Acquisition of My/Mo Mochi Ice Cream

    LBC Credit Partners (“LBC”), a leading provider of financing solutions to middle market companies, provided a senior secured credit facility to support the acquisition of My/Mo Mochi Ice Cream (“Company”) by an investment fund managed by Lakeview Capital, Inc. LBC served as agent and sole lead arranger for the senior secured credit facility.

  • Dave Kucera, Capital One Lenders Think About Recession Readiness
    The head of Capital One’s Financial Institutions Group reviews the trends that lenders should be watching as we shift into 2020.
  • Gerber Finance Opens Ontario Office, Industry Veteran Karim Habib to Lead Canadian Expansion
    Gerber Finance, an eCapital portfolio company and leading finance partner for companies experiencing accelerated growth, today announced the appointment of Karim Habib as Managing Director, Business Lending – Canada. The expansion marks Gerber’s first office in Canada, where it will now provide its signature customized asset-based lending solutions to consumer packaged goods companies.
  • Solar Capital Partners Rebrands to SLR Capital Partners
    Solar Capital Partners, LLC, a leading commercial finance platform with expertise across cash flow and specialty finance senior secured financing solutions for U.S. middle market companies, today announced that it will change its name to SLR Capital Partners ("SLR" or "the Advisor"), effective February 25, 2021. The new name, which utilizes a common brand across its affiliates and specialty finance investment teams, defines SLR's transition from its origins as a cash flow lender fifteen years ago to a multi-strategy diversified finance platform. 
  • AccessOne Closes $225 Million Credit Facility with PNC Bank

    AccessOne, a leading provider of patient financing solutions designed to help consumers manage their healthcare costs, today announced it has recently closed a $225 million financing with PNC Bank, a leading financial institution with deep ties to healthcare. The strategic move allows the AccessOne platform to serve more consumers with effective patient financing options, simplifying the way in which patients pay for healthcare and improving the overall patient financial experience.

     

  • BDO USA Welcomes David Balderach and Robert Novak to its Business Restructuring Practice
    BDO USA, LLP is pleased to announce that David Balderach and Robert Novak recently joined the firm’s business restructuring and turnaround services practice. Balderach, an industry veteran serving the lending and restructuring needs of energy and oilfield services businesses for the past 30 years, has joined BDO’s Houston office. Balderach brings his deep industry experience to BDO to advise companies, lenders and other investors on complex restructuring matters. Novak brings more than 20 years of experience in crisis management, operations improvement and debt restructuring to the firm’s Chicago office. 
  • Huntington Business Credit Closes Credit Facility With Dutchland Plastics, LLC

    Huntington Business Credit announced it closed a new $13,400,000 credit facility with Dutchland Plastics, LLC on December 20, 2019.  Proceeds of the facility were used to refinance existing debt and provide ongoing working capital growth financing.        

  • Juanita Schwartzkopf - Headshot150x150 Will the Coronavirus impact your borrowers?

    Do not underestimate the impact of the Coronavirus on a company’s Q1 and Q2 2020 financial results.  The supply chain issues are unknown, the potential economic slowdown is unknown, and the length of time the impact will be felt is unknown.

    This will certainly be a standard excuse for performance weakness that will be heard over the next year.  Be prepared!

    As a lender, which borrowers do you consider for impact, and what do you do to stay ahead of the problem?

  • Wells Fargo Unveils Commercial Banking Leadership in the Northeast
    Wells Fargo (NYSE: WFC) today announced its Commercial Banking leadership team for the Northeast, which includes leaders serving businesses in New England, Western New York, and Eastern Canada. The new leadership team stems from the bank’s recently announced structure for its Commercial Banking business.
  • SethBenefield_150 Interview with Bank of America’s Seth Benefield
    In this installment of our series of executive interviews, Charlie Perer sits with Seth Benefield, head of Bank of America Business Capital and Asset-Based Financing, to hear his perspective on the state of the ABL market, challenges of running one of the biggest ABL groups, ABL as a product or business, leadership and competition, among other things.
  • Michele Ocejo Bill Stapel and Greg Eck, New Leaders of Fifth Third Bank Asset-Based Lending Group, Share Vision for 2021

    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.

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