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WSFS Bank has hired Brooke Moyer as Senior Vice President and Director of Loan Syndications, reporting to Jim Gise, Senior Vice President, Middle Market, Syndications and Capital Markets.In his role, Moyer will be responsible for arranging, pricing, structuring and distributing multi-bank commercial and industrial (C&I), commercial real estate (CRE) and healthcare credit facilities for WSFS’ Commercial Division, acting as the primary syndications professional for all assigned Customers and Read Story

April 19, 2024 @ 08:00 AM

Big Lots has increased its borrowing capacity by up to $200 million with a new "first in, last out" term loan facility (the "FILO Term Loan Facility") through 1903P Loan Agent, LLC, an affiliate of Gordon Brothers Capital. The FILO Term Loan Facility significantly enhances the Company's liquidity position and is incremental to the borrowing capacity within the Company's current $900 million asset-based revolving loan facility ("ABL").Big Lots achieved significant sequential improvement in its Read Story

Field Under: Retail
April 19, 2024 @ 07:56 AM

The American Bankruptcy Institute (ABI) supports the recently introduced S. 4150 by Sen. Richard Durbin (D-Ill.) to extend key provisions of the “Bankruptcy Threshold Adjustment and Technical Corrections Act” that were due to sunset on June 21 for an additional two years to 2026. S. 4150, cosponsored by Sens.  Lindsey Graham (R-S.C.), Sheldon Whitehouse (D-R.I.), Chuck Grassley (R-Iowa), Christopher Coons (D-Del.) and John Cornyn (R-Texas), would maintain the debt limit at $7.5 million for small Read Story

Field Under: Bankruptcy
April 19, 2024 @ 07:46 AM

SLR Healthcare ABL (“SLRHC”) provided financing for a $9 million asset-based revolving credit facility to an Illinois based nursing home operator (“Company”). The Company includes four facilities with over 1,100 beds that specialize in short-term rehab, skilled nursing, and physical therapy. The transaction expands SLRHC’s existing relationship with the Company’s principals and related businesses. Proceeds of the credit facility were used to refinance existing debt and provide additional Read Story

Field Under: Nursing Facilities
April 19, 2024 @ 07:45 AM

First Citizens Bank's Healthcare Finance business served as sole lender on $50 million in financing for an affiliate of Tristar Realty Group for the refinancing of Ventana Medical Center. The Ventana is a 122,000-square-foot Class A medical office facility in Tarzana, California, a suburban section of the San Fernando Valley region of Los Angeles. It is co-anchored by Cedars Sinai Medical Center and Providence Health System-Southern California."With its modern facilities, strategic location and Read Story

Field Under: Healthcare
April 19, 2024 @ 07:37 AM

Histogen, a drug development company for treatment of bacterial skin infections, has filed voluntary petitions for relief under subchapter V of Chapter 11 of the U.S. Bankruptcy Code (“Chapter 11”) in the United States Bankruptcy Court for the Southern District of California to confirm a plan of liquidation that will distribute all value to stakeholders, including shareholders.Histogen intends to promptly propose and confirm a plan of liquidation and make distributions to the benefit of its Read Story

Field Under: Bankruptcy
April 19, 2024 @ 07:00 AM

Victory Park Capital (“VPC”) closed a $100 million credit facility with Sétanta Development Capital (“Sétanta”), a Charlotte-based residential real estate financing provider. The transaction will support Sétanta’s acquisition and development financing for residential land developers.“We are excited to be partnering with Victory Park Capital,” said John Curry, Sétanta’s CEO. “This financing will support our efforts to provide developer-friendly capital and, in the process, support the growth of Read Story

Field Under: Lender Finance
April 18, 2024 @ 08:00 AM

It is with profound sadness that ABI announced the passing of Hon. Kevin J. Carey (ret.) of Hogan Lovells (Philadelphia), a venerated figure in the bankruptcy and legal communities, who passed away on April 11. "We are extremely saddened at the news of Judge Carey's passing," said ABI Executive Director Amy Quackenboss. "His passion for the law was matched by his commitment to the legal community, where he was revered not only for his judicial acumen, but also for his ability to mentor and guide Read Story

Field Under: In Memoriam
April 18, 2024 @ 07:55 AM

King Trade Capital, the oldest and largest independent purchase order and non-bank trade finance solutions provider in the U.S., announced 1st quarter revenue growth exceeding 30 percent. King Trade Capital's Founder Edward King said, “We are quite proud of the help we have offered our clients during the current credit tightening by banks and traditional lenders. We have been fortunate to help companies that need our unique PO finance solutions to help them grow or recover from prior year Read Story

Field Under: Industry News
April 18, 2024 @ 07:52 AM

LSQ originated a $15 million invoice finance facility for a Florida-based distributor of cellular phones and other personal electronic devices.The company will use the additional capital to support its growth trajectory since adding new product lines in the past 18 months.“The company has seen an explosive uptick in business,” said Renee Jackson, LSQ National Sales Director, “and, as we have seen across a variety of industries, that puts a tremendous strain on cash flow and can slow down growth. Read Story

Field Under: Distribution
April 18, 2024 @ 07:50 AM

Edge Capital Lending ("Edge"), a family-office backed national asset-based lending company closed out 2023 with remarkable strength and kicked off 2024 on an impressive note. The company's legacy of rapid growth has continued, securing an impressive $92 million in new commitments in the last four months alone. With an unwavering dedication to smart growth through creating bespoke risk mitigants, Edge Capital has a reputation for excellence and creativity, free from the constraints of a Read Story

April 18, 2024 @ 07:32 AM

Monroe Capital acted as the sole lead arranger and administrative agent in the funding of a senior credit facility to support the growth of Exiger, alongside private equity sponsors Carlyle, Insight Partners, and JMI. Based in New York, NY, Exiger is the market leading SaaS company revolutionizing the way corporations, government agencies and banks manage supply chains. Exiger provides mission-critical enterprise software that delivers visibility and insights into risk across all third-parties Read Story

Field Under: Technology
April 18, 2024 @ 07:13 AM

BHI issued a $40 million capital call line facility to Northwind Debt Fund II, a closed ended CRE debt fund managed by Northwind Group, a real estate private equity firm that has transacted on over $4 billion worth of debt and equity investments in residential, commercial, senior living and healthcare properties.  “While amassing a considerable portfolio of assets across residential, commercial, senior living, and healthcare properties, Northwind Group has consistently demonstrated disciplined Read Story

Field Under: Real Estate
April 18, 2024 @ 07:00 AM

Runway Growth Capital announced a $40 million commitment to CarNow, a live-data automotive technology platform that helps dealers elevate the car-buying experience by transforming the way they connect with customers.This strategic investment will support CarNow's continued market expansion and accelerated product development that will enhance the car buying and selling experience."This investment from Runway Growth Capital is a testament to our team's hard work and dedication, as well as the Read Story

Field Under: Automotive
April 17, 2024 @ 08:00 AM

Aequum Capital funded $9,100,000 in credit facilities to a leading regional provider of metal stamping and fabrication solutions. The credit facilities support the company's ongoing working capital and future growth needs with a revolving line of credit and equipment term loan.Aequum Capital Financial is a specialty finance lender providing fast and innovative senior asset-backed and cash flow debt facilities of up to $25 million to small and medium-sized businesses throughout the U.S. Read Story

Field Under: Manufacturing
April 17, 2024 @ 07:51 AM