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Corporate borrowers are increasingly skirting traditional banks to secure debt financing and leveraged loans, which is creating a surge in demand for alternative lending services, according to a report from Reuters. Reporter Jonathan Schwarzberg writes that demand for capital is outpacing the availability of new deals in the U.S. leveraged loan market, and firms like Octagon Credit, KKR and Jefferies -- which are subject to fewer lending restrictions than banks -- are rushing in to fill the Read Story

Filed Under: Industry News
February 13, 2017 @ 08:00 AM

CIT, a provider of commercial lending and leasing services, announced that CIT Commercial Services was selected as the sole provider of factoring services to AG Adriano Goldschmied and its affiliate, Big Star. Both firms are either owned by or affiliated with Koos Manufacturing, Inc., a Los Angeles-based producer of quality jeans that in the past has manufactured for brands such as Abercrombie & Fitch, Gap, Banana Republic, J. Crew, Lucky Brand and others.  Terms of the program were not Read Story

Filed Under: Manufacturing
February 07, 2017 @ 08:00 AM

United Road Towing, Inc. announced that it has commenced a process to restructure its balance sheet and position the company for the future. To facilitate this restructuring, the Company, URT Holdings, Inc. and certain of their subsidiaries have filed voluntary petitions for reorganization under chapter 11 of the U.S. Bankruptcy Code in the Bankruptcy Court for the District of Delaware. The Company has secured commitments for new capital in debtor-in-possession (DIP) financing. The $35.25 Read Story

Filed Under: Bankruptcy
February 17, 2017 @ 07:55 AM

AlixPartners, the global business advisory firm, announced 24 promotions to Managing Director. Simon Freakley, Chief Executive Officer at AlixPartners, said: "I am delighted to announce the promotion of 24 of our high performing Directors to Managing Directors of the firm. They personify our core values through their professionalism, dedication and leadership in their work, both with clients and with colleagues. As a group, they exemplify our firm's unique ability to deliver and implement high Read Story

February 10, 2017 @ 08:00 AM

BB&T Capital Markets announced the addition of three senior bankers to its investment banking team. David Keys joins as a managing director and head of the newly formed Healthcare Group, Dave Endom joins as vice president in the Healthcare Group and Tim Lufkin joins as a managing director in the Financial Sponsors Group.Keys has spent the majority of his 20-year career in financial services, including 15 years in investment banking and mergers and acquisitions, working on transactions that Read Story

February 10, 2017 @ 08:17 AM

2017-02-21 23:17