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ING Capital LLC led a $300 million syndicated financing on behalf of GT Commodities LLC, the North American trading hub for Gerald Group, the world's largest employee owned metals merchant. The deal closed on October 4, 2019. ING, as Administrative Agent, structured and arranged this inaugural revolving credit facility. Deutsche Bank and Rabobank acted as Joint Lead Arrangers. The deal was well oversubscribed and the syndicate is comprised of commodity finance lenders including MUFG, Bank of Read Story

Filed Under: Metals and Mining
October 09, 2019 @ 08:35 AM

Sears Holdings Corp. won court approval Monday of a Chapter 11 liquidation plan requiring suppliers that kept its shelves stocked in bankruptcy to wait for their money or take a discounted payoff, according to press reports.According to a report from Footwear Network, a group of vendors for the bankrupt Sears Holdings Corp. — former parent to the Sears and Kmart department store chains — asked a judge in the United States Bankruptcy Court in the Southern District of New York to reject Sears Read Story

Filed Under: Bankruptcy
October 08, 2019 @ 08:54 AM

EP Energy Corporation announced that it has voluntarily filed petitions for chapter 11 reorganization in the U.S. Bankruptcy Court for the Southern District of Texas. According to media reports it is the largest oil and gas bankruptcy since 2016.EP Energy intends to use this process to reduce its debt significantly, strengthen its balance sheet and better position the Company for the long-term. EP Energy remains focused on capital efficiency, operational execution and operating its business in Read Story

Filed Under: Bankruptcy
October 07, 2019 @ 09:00 AM

Bank Leumi announced that it has hired John DePledge to head its New York-based Asset-Based Lending (ABL) business. In this role, DePledge will manage the continued expansion and growth of the bank’s ABL practice, launched by Leumi in 2018.Over his 30-year career in corporate finance, DePledge has successfully developed and grown asset-based lending practices at major North American banks through various economic and market cycles. He most recently served as Business Head and National Sales Read Story

October 16, 2019 @ 09:00 AM

CIT Group Inc. announced its Real Estate Finance unit served as lead arranger on $87 million in financing for a portfolio of Storage Rentals of America-branded self-storage facilities.The financing will be used by a fund managed by SROA Capital, LLC to recapitalize and refinance debt on a portfolio of 35 self-storage properties encompassing more than 14,000 storage units in three states: Ohio, Kentucky and Florida.“Our portfolio of self-storage properties is geographically diverse and located in Read Story

Filed Under: Real Estate
October 11, 2019 @ 08:40 AM

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