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lululemon athletica inc. announced that it has entered into a definitive agreement to acquire MIRROR, a leading in-home fitness company that created an interactive workout platform that features live and on-demand classes, for a purchase price of $500 million.With its best-in-class content and versatile platform, MIRROR positions lululemon to accelerate its vision and build upon an ecosystem that will fuel the Company’s Power of Three growth plan, which includes driving the business through omni Read Story

July 07, 2020 @ 09:00 AM

CIT Group Inc. announced it has named Chris Esposito as Managing Director in charge of its newly expanded Asset-Based Lending business. In this role, Esposito is responsible for managing the Asset-Based Lending team, overseeing the national ABL business, building new client relationships, developing strategies to address new target markets and ensuring outstanding customer service and satisfaction.“At CIT, we are proud of our long-standing heritage as a premier asset-based lender,” said David Read Story

July 10, 2020 @ 09:00 AM

IBM entered into a new $2.5 billion 364-Day Credit Agreement with the several banks and other financial institutions from time to time parties thereto (the “364-Day Lenders”) and (ii) entered into the First Amendment (the “Three-Year Amendment”) to the existing $2.5 billion Amended and Restated Three-Year Credit Agreement dated as of July 19, 2018 (the “Existing Three-Year Credit Agreement”), among the Borrowers, the several banks and other financial institutions from time to time parties Read Story

Filed Under: Manufacturing
July 07, 2020 @ 08:00 AM

First Eagle Alternative Credit, LLC announced that it has added asset-based lending solutions to its direct lending platform and appointed industry veterans Larry Klaff and Lisa Galeota to lead this initiative at the firm.Klaff and Galeota join First Eagle from Gordon Brothers Finance Company, a majority-owned portfolio company of BlackRock Capital Investment Corporation, where they worked together and at its predecessor firm for over 13 years.  During that time they sourced, originated and Read Story

July 13, 2020 @ 09:10 AM

NPC International, Inc. announced that it has entered into a restructuring support agreement (“RSA”) with lenders holding approximately 100% of the Company’s first lien priority debt and 70% of its first lien debt (collectively, the “Senior Secured Lender Group”) to substantially reduce NPC’s long-term debt and strengthen the Company’s capital structure. NPC and the Senior Secured Lender Group contemplate that the terms of the RSA would become part of a comprehensive Chapter 11 plan to Read Story

Filed Under: Franchise Finance
July 06, 2020 @ 08:55 AM

2020-08-05 11:48