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PNC Bank Acquires $16.6B of Select Capital Commitments Facilities of Signature Bridge Bank
PNC Bank has acquired a portfolio of capital commitments facilities from Signature Bridge Bank through an agreement with the Federal Deposit Insurance Corporation ("FDIC") as Receiver. The transaction closed Oct. 2, 2023. The FDIC established Signature Bridge Bank, on March 12, 2023, after being...
Bloomberg: Private Credit Defaults Risk Reaching 5% Next Year, Bank of America Says
Bloomberg reported private debt defaults will reach 5% by early 2024 as portfolios see an estimated one-third of deals come due in the next two-and-a-half years, according to a new report from Bank of America credit strategists Neha Khoda and Dong Ba. That’s compared to an estimated 3% default rate...
Commercial Chapter 11 Filings Increase 61% Over First 9 Months of 2023
The 4,553 total commercial chapter 11 bankruptcies filed during the first nine months of 2023 represented a 61 percent increase over the 2,837 filed during the same period in 2022, according to data provided by Epiq Bankruptcy, the leading provider of U.S. bankruptcy filing data. Small business...
Fora Financial Closes New Debt Financings, Further Diversifying Capital Structure
Fora Financial, a leading provider of flexible financing to small- and medium-sized businesses nationwide, announced the closings of a $130 million revolving credit facility and $10 million investment-grade rated corporate note. Truist Bank will serve as senior lender for the credit facility, joined...
Tips for Robust Collections and Asset Recovery in a Slowing Economy
Brian Noble
Brian Noble, CEO of Asset Compliant Solutions, shares tips for asset-based lenders and lease finance companies in a...
8/11/2023 Topic: Industry Insights
Brian Noble, CEO of Asset Compliant Solutions, shares tips for asset-based...
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