Articles

Citizens announced today that it is lead left arranger of a $125 million asset-based loan for Virginia Beach, VA-based Franchise Group, Inc. (Nasdaq: FRG).

Franchise Group is an operator of franchised and franchisable businesses that continually looks to grow its portfolio of brands while utilizing its operating and capital allocation philosophy to generate strong cash flow for its shareholders.  This transaction refinances an existing ABL for two of its businesses – American Freight and Buddy’s Home Furnishings.

SG Credit Partners today announced the extension of its comprehensive credit platform exclusively serving lower middle market entrepreneurs and new website illustrating its expanded capabilities. The broad platform was developed to provide tailored lending solutions ranging from $1 to $10+ million for entrepreneurs seeking a customized structure spanning both business and personal assets.  The platform delivers a complete range of credit solutions including: cash flow, collateral-based, hybrid structures, high net worth, technology & recurring revenue and special situations lending.

Secured Finance executives and an executive recruiter discuss how the industry can attract and retain more women.

Richard Hawkins, Georgia Quenby and John Alderton provide an overview of the potential impacts of the New Moratorium and consider actions that Secured Lenders may wish to consider in preparation.

(Editor’s Note: SFNet will be hosting a Webinar on UK Insolvency Reform: What Secured Lenders Need to Know, which will include the authors and other experts on June 10 at 11 AM ET.)

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.

The acquisitive Canadian music rights and services company – formerly known as Olé Entertainment – has announced that it has secured a new revolving credit facility of USD $400 million, plus a USD $150 million accordion. 

Truist Securities served as Left Lead Arranger of Anthem Entertainment’s new $400 million credit facility. Fifth Third Bank acted as Joint Lead Arranger, Union Bank acted as Syndication Agent and Regions Bank acted as Documentation Agent.

Other banks in the facility include Bank of America, Bank Hapoalim, CIT Bank, First Horizon Bank, HSBC Bank, Pacific Premier Bank, Pinnacle Bank and Scotiabank.

SFNet President John DePledge, Head of ABL at Leumi Business Credit, and Riemer & Braunstein finance partner, Lon Singer, address the special business and legal considerations involved in lending to a company that operates as a licensee of a famous brand.

In January, Gerber Finance announced the completion of its CEO succession strategy, naming longtime president Jennifer Palmer as CEO with Founder Gerald Joseph transitioning to his new role as strategic advisor and chairman of the board.

Sallyport is pleased to announce the provision of $7,000,000 in Accounts Receivable Finance to support a strategic acquisition in the entertainment services industry. Our new client, who successfully purchased the business - an existing Sallyport client, through an Article 9 Sale, chose us to ensure a seamless transition for existing debtors and customers. 

A trend towards superpriority debt exchanges that has begun appearing in out-of-court restructurings will continue to cause worry amongst minority debt holders and will likely result in continued litigation regarding the propriety of such exchanges. Examples of such troublesome exchanges began with an exchange conducted by Serta Simmons Bedding, LLC (“Serta”) and has continued with structurally similar transactions conducted by other companies, including Boardriders, Inc. (“Boardriders”) and TMK Hawk Parent, Corp. (“TriMark”).  

Tyler Layne and Lee Sands, attorneys at Waller Law cover three recent out-of-court debt transactions that have introduced a novel way for majority lenders and borrowers to improve their position at the detriment of the non-participating/minority lenders.

White Oak Commercial Finance, LLC (“White Oak”), an affiliate of White Oak Global Advisors, LLC is pleased to acknowledge the success of its valued client, StoreBound, a developer and distributor of housewares designed for healthy living. The fast-growing company has been with White Oak since 2015 and recently signed an investment agreement with multinational domestic equipment conglomerate, Groupe SEB, which aims to reinforce its presence in the US housewares market.

The Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act was signed into law. While the implementing regulations are not required to be issued by the SBA until January 6, 2021, the Act does provide insight into the new and revised programs.

The purpose of this article is to provide an overview of the Act to allow borrowers and lenders to take advantage of potential liquidity enhancements. 

Andrew (Andy) Cerussi has joined Tiger Financial, LLC as a Managing Director. Tiger Financial is an affiliate of Tiger Capital Group, the asset valuation and financial services firm.

From his base in Tiger's Boston office, the 20-year veteran of the asset-based lending and financial services industries will focus on identifying both secured debt financing and equity capital opportunities.