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The 987 total commercial chapter 11 bankruptcies filed during the first six months of 2024 represented a 70 percent increase over the 582 filed during the same period in 2023, according to data provided by Epiq AACER, the leading provider of U.S. bankruptcy filing data. All chapters increased in June 2024 compared to June 2023. Overall commercial filings registered 2,743 for the first half of 2024, representing a 27 percent increase from the commercial filing total of 2,154 for the first half of Read Story

Filed Under: Bankruptcy
July 03, 2024 @ 08:00 AM

ORIX Corporation USA announced the appointment of Nik Singhal as Managing Director and Group Head of Direct Lending within its Private Credit business. Singhal is based in New York and will report to Jeff Abrams, Group Head of Private Credit and Real Estate and Member, Executive Committee. Mr. Singhal will also join ORIX USA’s Management Committee. His start date at the firm is July 8, 2024.Singhal has over 26 years of credit and lending experience, and joins ORIX USA after almost 14 years at Read Story

June 26, 2024 @ 08:05 AM

CytoSorbents Corporation, a leader in the treatment of life-threatening conditions in the intensive care unit and cardiac surgery using blood purification via its proprietary polymer adsorption technology, announced that on June 28, 2024, the Company entered into a new $20 million credit facility with Avenue Capital Group, including its Avenue Venture Opportunities Fund, L.P. and Avenue Venture Opportunities Fund II, L.P. Armentum Partners, LLC served as financial advisor to the Company on the Read Story

Filed Under: Healthcare
July 03, 2024 @ 07:33 AM

First Citizens Bank's Commercial Real Estate business provided $52 million in financing to a joint venture between Wheelock Street Capital and Foundry Commercial for the construction of Egret Point Logistics Center in Boynton Beach, Florida.  Located at 3800 S Congress Ave., Egret Point Logistics Center will consist of two Class-A rear-load industrial buildings aggregating 457,110 SF, featuring 32-feet clear height ceilings,104 dock doors, four drive-in doors, and 539 traditional parking spaces. Read Story

Filed Under: Real Estate
June 27, 2024 @ 07:36 AM

Marathon Asset Management, a leading global credit manager with $23 billion in assets under management, and Webster Financial Corporation, the holding company for Webster Bank, a top performing commercial bank with $76 billion in assets, announced they are forming a private credit joint venture, which will deliver direct lending solutions to sponsor-backed middle market companies.The partnership combines each firm’s credit expertise, private equity sponsor relationships and standing in the Read Story

Filed Under: Banking News
July 02, 2024 @ 08:00 AM

2024-07-20 23:53