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News Stories (1036 Results) - Industry News

Finitive, a private credit platform providing institutional investors with direct access to alternative lending investments, announced that QuadPay, the US-based payment installment platform, has secured a senior secured committed revolving line of... Read Story

September 25, 2020, 09:00 AM

Encore Capital Group, Inc., an international specialty finance company, announced that it has completed the implementation of its new global funding structure.“The completion of our new global funding structure is a pivotal event in the evolution of... Read Story

September 25, 2020, 08:00 AM

The American Institute of Certified Public Accountants (AICPA), its business and technology arm, CPA.com, and fintech leader Biz2Credit announced they are teaming up on a new platform, CPALoanPortal.com, to streamline the process for CPA firms... Read Story

September 23, 2020, 09:05 AM

Companies spent the equivalent of around $15 billion extra a week on technology to enable safe and secure home working during COVID-19, reveals the 2020 Harvey Nash/KPMG CIO Survey. This was one of the biggest surges in technology investment in... Read Story

September 23, 2020, 09:00 AM

Mike Sharkey, President, Fifth Third Business Capital recently announced his retirement following his highly successful career establishing and managing some of the most iconic businesses in the asset-based lending industry. In this exclusive... Read Story

September 22, 2020, 09:30 AM

Wolters Kluwer Lien Solutions has won four 2020 International Business Awards (IBA), including two Gold-level awards, as part of the renowned Stevie Awards program for innovation in the below categories: Best FinTech Solution: “iLien Motor Vehicle... Read Story

September 22, 2020, 09:00 AM

The TTM U.S. institutional term loan default rate is expected to finish higher for the ninth consecutive month, potentially reaching 4.6% from 4.3% at the end of August, according to a new Fitch Ratings report."September volume registers a modest $1... Read Story

September 21, 2020, 09:15 AM

The effect of COVID-19 on the asset-based lending (ABL) market became apparent in the second quarter as the industry’s most recent data reflect a 24.1-percent decline in total bank loans and 29.4-percent drop quarter over quarter in non-bank lending... Read Story

September 17, 2020, 09:10 AM

For middle-market and small businesses, the COVID-19 pandemic is highlighting the vital importance of investing in new technology, facilitating remote work and maintaining the tech-savvy workforce needed to make it all happen, according to a new... Read Story

September 17, 2020, 09:00 AM

Antares Capital Advisers LLC, a subsidiary of Antares Capital LP (together with its parent companies, “Antares”) announced the final closing of its inaugural Senior Loan Fund (“SLF”).The fund, which launched in December 2019, closed on September 14th... Read Story

September 17, 2020, 08:50 AM

Wingspire Capital Holdings has provided a $40 million commitment to XL Funding, LLC, a wholly-owned subsidiary of the XLerate Group.XL Funding provides floorplan loans to auto dealers in more than a dozen markets, and will use the funding to... Read Story

September 16, 2020, 09:05 AM

B. Riley Financial, Inc., a leading business advisory and financial services company,  announced it has adopted new brand names across its subsidiary companies to provide greater external consistency and affiliation among the diverse stakeholders it... Read Story

September 15, 2020, 09:05 AM

Gordon Brothers, the global advisory, restructuring and investment firm, has been engaged to sell silica mining and processing assets and plant equipment located in Arcadia, Wisconsin on behalf of Wisconsin Bank & Trust as secured lender.   The sale... Read Story

September 15, 2020, 08:50 AM

U.S. high yield default activity produced a modest $2.8 billion of volume since the end of July, the lowest level since the start of the coronavirus pandemic, according to a new Fitch Ratings report."The TTM default rate stands at 5.7%, up from 2.9%... Read Story

September 15, 2020, 08:00 AM

Most U.S. broadly syndicated loan (BSL) collateralized loan obligations (CLOs) under Fitch Ratings' surveillance showed stable or improving portfolio metrics in August compared with July, as rating pressure on underlying loan issuers eased and LIBOR... Read Story

September 14, 2020, 09:10 AM

Knowles Corporation, a provider of high-performance audio solutions, entered into a new Credit Agreement among the Company and one or more of its subsidiaries and a syndicate of other financial institutions including JPMorgan Chase Bank, N.A., as... Read Story

September 09, 2020, 08:45 AM

Malfitano Partners continues to grow the resources available to help its clients with liability management and restructuring needs by expanding and entering into an exclusive strategic alliance with The Branford Group, a premier industrial asset... Read Story

September 08, 2020, 08:30 AM

Strategic Data Center Fund Manager, LLC announced it has secured a revolving line of credit that converts into a permanent loan from Sunflower Bank. The credit facility will initially provide the ability to borrow up to $25,000,000. Over time, and... Read Story

September 08, 2020, 08:25 AM

Purple Innovation, Inc., a comfort innovation company known for creating the "World's First No Pressure™ Mattress," announced that it has executed a new five-year $100 million senior secured credit facility with a group of financial institutions led... Read Story

September 04, 2020, 08:50 AM

Business Development Corporation of America refinanced the $575.0 million syndicated revolving credit facility that it had entered into through a wholly-owned, consolidated special purpose financing subsidiary, BDCA Funding I, LLC ("Funding I"), with... Read Story

September 04, 2020, 08:45 AM

Main Street Capital Corporation announced that it recently completed a new portfolio investment to facilitate the minority recapitalization of Superior Rigging & Erecting Co., a leading provider of rigging, steel erection and crane & equipment rental... Read Story

September 02, 2020, 08:40 AM

Project finance in the United States has staged a vigorous recovery— aided by the ability of banks to provide liquidity, low funding costs, and a more liquid bond market—since the initial dampening effect of the COVID-19 pandemic, according to the... Read Story

August 28, 2020, 08:10 AM

Monroe Capital LLC announced the closing of a $406.27 million term debt securitization known as Monroe Capital MML CLO X, LTD. The term financing was Monroe’s fifth CLO completed since March 2018 and is secured by a portfolio of middle market senior... Read Story

August 27, 2020, 09:00 AM

New CMBS delinquencies for July 2020 totaled 283 loans ($8.05 billion) for a total of 871 ($20.1 billion) compared to 673 loans ($13.7 billion) as of June 30, 2020; some loans that were delinquent in June became current again in July. Hotel loans... Read Story

August 26, 2020, 08:54 AM

Chubb and the National Center for the Middle Market (NCMM), housed at The Ohio State University Fisher College of Business, announced results from its second-quarter Middle Market Indicator (MMI) report, within which there is a special segment on the... Read Story

August 26, 2020, 08:50 AM

Crestmark secured a total of $6,500,000 in ABL financial solutions for four new clients; Crestmark Equipment Finance provided $524,700 in one new lease transaction; Crestmark Vendor Finance provided $8,165,144 in 96 new lease transactions; and the... Read Story

August 25, 2020, 08:00 AM

CBL Properties announced that the Company has entered into a Restructuring Support Agreement (the “RSA”) with certain beneficial owners and/or investment advisors or managers of discretionary funds, accounts, or other entities (the “noteholders”)... Read Story

August 24, 2020, 08:10 AM

Wellfleet Credit Partners (“Wellfleet”), the performing credit business of Littlejohn & Co., LLC, announced the closing of Wellfleet CLO 2020-2, a $396.0 million collateralized loan obligation (CLO). Following the issuance of Wellfleet CLO 2020-2... Read Story

August 24, 2020, 08:00 AM

U.S. high yield defaults tally just $0.7 billion so far in August, a significant decline from the $12.8 billion monthly average over the past four months, according to a new Fitch Ratings report."August default volume could reach nearly $3 billion... Read Story

August 21, 2020, 09:10 AM

Guggenheim Investments, the global asset management and investment advisory business of Guggenheim Partners, provided its Third Quarter 2020 High-Yield and Bank Loan Outlook. Titled “The Impact of the Fed’s Corporate Credit Facilities,” the report... Read Story

August 21, 2020, 09:07 AM

ING Capital LLC ("ING") led a $235 million syndicated financing on behalf of Auramet Trading and Auramet International (collectively, "Auramet"), a well-regarded precious metals merchant. The deal closed on August 7, 2020. ING acted as Mandated Lead... Read Story

August 20, 2020, 09:05 AM

A recently completed economic impact study of Hilco Redevelopment Partners’ (HRP) proposed redevelopment of the closed former Philadelphia Energy Solutions (PES) refinery in South Philadelphia is projecting significant job creation and a positive... Read Story

August 20, 2020, 08:00 AM

CIVC Partners, L.P. ("CIVC"), a Chicago-based middle market private equity firm focused on investments in business services industries, is pleased to announce the firm's investment in iVision, in partnership with Gabe Damiani, David Degitz and the... Read Story

August 19, 2020, 08:50 AM

Commercial Finance Partners announced the closing of a $2,000,000 asset based loan for a national prescription drug supplier headquartered in Michigan.  The borrower, faced with restrictive bank covenants, sought out Commercial Finance Partners to... Read Story

August 17, 2020, 08:30 AM

CohnReznick LLP announced that Cynthia Romano and Chris Creger of its Restructuring & Dispute Resolution practice have been awarded the prestigious Turnaround Management Association (TMA) 2020 Turnaround and Transaction of the Year Award. The award... Read Story

August 14, 2020, 08:50 AM

Gordon Brothers has released an article that discusses the outcome of the Paycheck Protection Program (PPP), including its impact on individuals, firms and lenders, as well as its aid for sectors most challenged by the COVID-19 pandemic. In the... Read Story

August 14, 2020, 08:27 AM

Monroe Capital LLC was selected as the recipient of the 2020 Best U.S. Direct Lending Fund by Creditflux, a London-based global publication and leading information source for the rapidly evolving market for credit funds and CLOs. The award was... Read Story

August 13, 2020, 08:55 AM

As the initial shockwaves of the global pandemic subside, middle market sponsors and lenders have proven supportive of their portfolio companies as the financial challenges caused as a result of stay-at-home orders began to crystalize, according to... Read Story

August 13, 2020, 08:45 AM

BNP Paribas, a premier global bank, announced that it has closed a $100 million syndicated Revolving Credit Facility (“RCF”) structured as a sustainability-linked loan (“SLL”) with Empresas CMPC S.A. (“CMPC” or the “Company”), a Chilean pulp and... Read Story

August 13, 2020, 08:15 AM

TCF National Bank announced the successful completion of its integration with Chemical Bank, creating a strong foundation to strengthen individuals, businesses and the community. TCF retired the Chemical brand and unveiled its new brand platform and... Read Story

August 11, 2020, 07:45 AM

Funds managed by Ares Management Corporation’s Credit Group (collectively “Ares”) closed approximately $1.7 billion in commitments across 24 transactions during the second quarter and approximately $4.4 billion in commitments across 64 transactions... Read Story

August 06, 2020, 09:19 AM

SG Credit Partners provided $2.5 million in working capital to a privately owned consumer debt collection agency.The Financing Situation: The Company needed capital quickly to move on opportunistic portfolio purchases as well as working capital... Read Story

August 05, 2020, 08:45 AM

More than half (58 percent) of small business owners (SBOs) report they expect their revenue to decrease in 2020, even though 47 percent stated they did not have to close for any amount of time during the COVID-19 pandemic, according to results of TD... Read Story

August 05, 2020, 08:00 AM

The continued deterioration in credit quality of issuers due to the coronavirus pandemic resulted in a large number of U.S. middle market (MM) CLOs failing a variety of tests for the first time in 2Q20, according to Fitch Ratings' latest U.S. MM CLO... Read Story

August 04, 2020, 08:55 AM

Funds managed by Crestview Partners ("Crestview") announced an investment into Upwell Water LLC ("Upwell Water" or the "Company"), a San Francisco-based, water-focused specialty finance company. Upwell Water was founded to create one of the world's... Read Story

July 31, 2020, 08:25 AM

SSG Capital Advisors, LLC ("SSG") acted as the investment banker to Hy-Ko Products Company ("Hy-Ko" or the "Company") in the sale of substantially all of its assets to Midwest Fastener Corporation. The transaction closed in July 2020. Headquartered... Read Story

July 31, 2020, 08:17 AM

East West Bank and one participating lender closed on an $80 million capital call line of credit for Star Mountain Diversified Credit Income Fund III, LP (“SM3”), a fund that invests in small and medium-sized private businesses in the United States.... Read Story

July 31, 2020, 08:05 AM

ABL Advisor released a new video interview featuring Doug Winget, President, Huntington Business Credit who discusses the unique challenges the economy is presenting middle-market borrowers and asset-based lenders. Winget also discusses the... Read Story

July 31, 2020, 07:40 AM

The COVID-19 pandemic is changing how consumers and businesses interact with financial institutions and new research shows that this trend will likely be permanent.According to the results of Citizens Bank’s inaugural Banking Experience Survey, half... Read Story

July 30, 2020, 08:20 AM

Fitch Ratings' review of nearly 180 global non-bank financial institutions (NBFIs) since March in response to the coronavirus pandemic found balance-sheet intensive business models face greater pressure in 2020 than more balance-sheet light... Read Story

July 28, 2020, 09:00 AM

Equifax has increased its leadership in commercial credit data solutions with the acquisition of Ansonia Credit Data (Ansonia), a leading provider of business credit, collections, and account receivable data used by financial institutions and other... Read Story

July 27, 2020, 09:00 AM

Balboa Capital surveyed business owners to find out how many companies switched to remote work models due to the COVID-19 pandemic, and to see how effective the results have been. The survey, which was sent to a sample of small business owners in a... Read Story

July 27, 2020, 07:00 AM

Gordon Brothers, the global advisory, restructuring and investment firm, has released an article that discusses the United States-Mexico-Canada trade agreement (USMCA) and outlines some of its most important implications for asset valuation.On the... Read Story

July 24, 2020, 09:05 AM

George Souri, CEO of LQD Business Finance, a Chicago based tech-enabled commercial lender has been accepted into Forbes Finance Council, an invitation-only community for executives in accounting, financial planning, wealth and asset management, and... Read Story

July 23, 2020, 09:10 AM

Great Rock Capital, an asset-focused commercial finance company specializing in middle market lending, announced that it has renewed and expanded its senior secured credit facility for Mersino Management, providing an additional $5.1 million of... Read Story

July 16, 2020, 08:00 AM

ABL Advisor released a new video interview featuring Kathleen Lepak, Asset Based Lending Business Director, People’s United Business Capital, who discusses the challenges faced by credit underwriting and portfolio management teams in the COVID-19... Read Story

July 15, 2020, 09:00 AM

Nomad Royalty Company Ltd. announced that it has entered into an agreement with The Bank of Nova Scotia, Canadian Imperial Bank of Commerce (CIBC) and The Royal Bank of Canada  (RBC) for a $US50 million revolving credit facility with the option to... Read Story

July 15, 2020, 08:50 AM

NetCents Technology Inc., a cryptocurrency payments technologies company, provide further information regarding the institutional credit facility that it received totaling $1.4 billion to power merchant settlements.NetCents has partnered with Bison... Read Story

July 13, 2020, 08:00 AM

SSG Capital Advisors, LLC ("SSG") acted as the investment banker to PQ New York, Inc. and Subsidiaries d/b/a Le Pain Quotidien USA ("LPQ U.S." or the "Company") in the sale of select U.S. assets to Aurify Brands, LLC ("Aurify Brands"). The sale was... Read Story

July 10, 2020, 08:55 AM

Ryan Davis, Managing Director of Valuation Services at Tiger Group, has been named a ‘40 Under 40’ recipient in the 2020 awards program from The Secured Finance Network (SFNet), the professional association of the secured lending industry.“The SFNet... Read Story

July 10, 2020, 08:50 AM

Green Ivy Capital, LLC ("Green Ivy Capital"), an affiliate of Chicago Atlantic Group, LLC ("Chicago Atlantic"), announced today it acted as sole lead arranger and administrative agent on a new $30 million senior secured term loan facility (the "Term... Read Story

July 10, 2020, 08:45 AM

Stamps.com Inc. (SDC) entered into an Amended and Restated Credit Agreement, dated as of June 29, 2020, by and among SDC, Wells Fargo Bank, National Association, JPMorgan Chase Bank, N.A., and Bank of America, N.A., the lenders from time to time... Read Story

July 06, 2020, 08:00 AM

ABL Advisor released a new video interview featuring Michael Haddad, President, Capital Finance, Sterling National Bank. In this exclusive interview, Haddad discusses how new approaches to working with middle-market borrowers remotely can strengthen... Read Story

July 01, 2020, 08:45 AM

East West Bank and four participating lenders closed on a 2-year $130 million senior unsecured revolving line of credit for Los Angeles-based broker dealer and investment firm Wedbush Securities Inc.The new facility refinances an existing $85 million... Read Story

June 30, 2020, 08:29 AM

White Oak Commercial Finance LLC, an affiliate of White Oak Global Advisors LLC announced it provided an $81MM asset-based credit facility to the Aspire 42 group of companies; majority owned by Moss Ridge, a Sydney-based family office that manages a... Read Story

June 29, 2020, 08:29 AM

Amerisource Business Capital announced the closing and funding of a $3,000,000 credit facility for an international occupational health services company based in Texas. The proceeds were used to refinance existing bank debt and support additional... Read Story

June 29, 2020, 08:00 AM

White Oak Global Advisors, LLC, reiterated its commitment to responsible credit investing by dedicating additional resources to deploy capital in senior-secured, non-sponsored debt investments in companies that are focused on environmental and social... Read Story

June 25, 2020, 09:00 AM

Santander Bank announced that its Commercial Banking division acted as joint lead arranger for a $175 million term loan and $50 million revolver to Purolite Corporation ("Purolite") to facilitate additional spending on capital projects and enhance... Read Story

June 24, 2020, 09:05 AM

Ares Management Corporation, a leading global alternative investment manager, announced today the final closing of its Ares Special Opportunities Fund, L.P. (together with its parallel vehicles, “ASOF” or the “Fund”). The Fund was significantly... Read Story

June 22, 2020, 09:10 AM

CVC Credit Partners announce that it has provided a $92 million multicurrency first lien credit facility to Calibre Scientific, the life sciences and diagnostics business owned by StoneCalibre. Funding provided by CVC Credit will be used to refinance... Read Story

June 22, 2020, 09:00 AM

A new global business survey commissioned by Xerox Holdings Corporation shows an estimated 82 percent of the workforce in respondents’ organizations will have returned to the workplace in 12-18 months’ time, on average. In preparation for a return... Read Story

June 22, 2020, 08:00 AM

White Oak Commercial Finance, LLC, an affiliate of White Oak Global Advisors, announced it funded over $600MM in credit facilities in 2019 and over $300MM year-to-date to diversified enterprises in North America, the UK, Europe, and Australia.White... Read Story

June 19, 2020, 09:05 AM

ProSight Global, Inc. entered into a Credit Agreement, with Truist Bank (“Truist”), as administrative agent, issuing bank, and swingline lender. Suntrust Robinson Humphrey, Inc. and Citizens Bank N.A. (“Citizens”) are joint lead arrangers and... Read Story

June 18, 2020, 09:15 AM

MFA Financial entered into a $500 million senior secured term loan facility, with Wilmington Trust serving as as administrative agent and collateral agent.The loans under the Term Loan Facility are expected to be funded on or about June 26, 2020 (the... Read Story

June 17, 2020, 09:04 AM

The Federal Reserve Board announced it will be seeking public feedback on a proposal to expand its Main Street Lending Program to provide access to credit for nonprofit organizations. As with the existing Main Street Lending Program, which targets... Read Story

June 16, 2020, 09:20 AM

The Brink’s Company announced an amendment to its existing credit agreement that provides long-term covenant relief and added flexibility to execute its strategic plan. The amendment changes the methodology for calculating the company’s leverage... Read Story

June 15, 2020, 08:55 AM

Banks and independent lenders were enjoying a strong market for asset-based lending (ABL) with solid credit quality in the first quarter before the full impact of the COVID-19 pandemic was felt, according to data released today by the Secured Finance... Read Story

June 12, 2020, 09:10 AM

U.S. Treasury Secretary Steven T. Mnuchin issued the following statement on the expansion of the Main Street Lending Program announced by the Federal Reserve Board: "The changes announced to the Main Street Lending Program are the result of an... Read Story

June 11, 2020, 09:15 AM

Danaher entered into a new $2.5 billion 364-day revolving credit facility (the “Credit Facility”) with Bank of America, N.A., as Administrative Agent, and a syndicate of lenders from time to time party thereto, which replaces the existing $5.0... Read Story

June 11, 2020, 08:55 AM

ABL Advisor released a new video interview featuring Ken Frieze, CEO of Gordon Brothers. In this exclusive interview, Frieze provides his insights into the impact the COVID-19 crisis has had on the asset-based lending community, his outlook for the U... Read Story

June 10, 2020, 09:15 AM

US non-financial corporations issued a record $584 billion of investment-grade bonds through May, more than double the amount registered over the same time frame one-year prior. Bonds have been issued at meaningfully lower average rates, which should... Read Story

June 10, 2020, 09:05 AM

A growing number of suppliers are using their receivables as a source of liquidity to alleviate financial strains in the wake of the coronavirus pandemic, according to Maureen Sullivan, Head of Supply Chain Finance at Mitsubishi UFJ Financial Group... Read Story

June 09, 2020, 09:25 AM

Hercules Capital, Inc., the largest and leading specialty finance provider to innovative, venture, growth and established stage companies backed by some of the leading and top-tier venture capital and select private equity firms, today announced that... Read Story

June 08, 2020, 09:25 AM

OakNorth, the next-generation credit and monitoring platform provider has announced its signing of a commercial agreement with PNC Bank, an American bank holding company and financial services corporation.Businesses need liquidity to overcome the... Read Story

June 05, 2020, 09:10 AM

LQD Business Finance announced the LQD Power Up Program, an internal program devoted to creating new opportunities through internships and mentoring to underprivileged young adults in the Chicagoland area.George Souri, the company's CEO, made the... Read Story

June 04, 2020, 09:05 AM

Acting Comptroller of the Currency Brian P. Brooks today expressed concerns about the effects of regional and local responses to COVID-19 on the federal banking system. In letters to the National League of Cities, the U.S. Conference of Mayors, and... Read Story

June 03, 2020, 09:31 AM

ABM, a leading provider of facility solutions, announced it has successfully completed an amendment to its senior, secured credit agreement.  The Company is a party to a syndicated credit facility comprised of an $800 million revolving line of credit... Read Story

June 03, 2020, 09:30 AM

Metropolitan Partners Group Management, LLC ("Metropolitan"), a direct-lending fund manager that provides senior-secured, transitional capital to small and mid-sized businesses in the U.S., recently completed an investment in International Literary... Read Story

June 03, 2020, 09:15 AM

CIG Capital (CIG CAP), an alternative investment firm, announced a new 125 million dollar lending project for The Villages at West Point, an upscale and affordable 624 unit destination-location development in West Point, Georgia.Despite the economic... Read Story

June 02, 2020, 08:55 AM

MDC Partners Inc. announced that the Company has amended its existing senior secured revolving credit facility with Wells Fargo Capital Finance, LLC, as agent, extending the maturity date to February 3, 2022."We are pleased to have successfully... Read Story

June 01, 2020, 08:00 AM

Negative rating actions across global structured finance (SF) from the coronavirus pandemic will be distributed more broadly and are expected to be less severe in most sectors than experienced by the worst performing areas during the period from 2008... Read Story

May 29, 2020, 09:25 AM

Bridge Bank announced it has extended a credit facility to YES Leasing, a financial services company that provides commercial equipment financing to companies and lessees of all credit backgrounds, specializing in helping those with challenging... Read Story

May 29, 2020, 09:20 AM

International law firm Proskauer has launched the Proskauer Private Credit Default Index which tracks, on a quarterly basis, the default rates of senior secured and unitranche loans.“Traditionally, the private credit market has been viewed as being... Read Story

May 29, 2020, 09:00 AM

ABL Advisor released a new video interview featuring Robert Katz, Managing Director, EisnerAmper. In this exclusive interview, Katz discusses the benefits and potentially significant risks for borrowers participating in the Paycheck Protection... Read Story

May 26, 2020, 09:10 AM

Gordon Brothers, the global advisory, restructuring, and investment firm, announced today that it has provided a $20 million secured term loan facility to Brooks Brothers Group, Inc, the prototypical American apparel retailer headquartered in New... Read Story

May 22, 2020, 09:05 AM

LQD Business Finance, a leading tech-enabled commercial lender, has launched a new Managed Services Platform for processing PPP Loan Forgiveness Applications. Using data integration and automation, LQD Finance’s Managed Services Platform largely... Read Story

May 22, 2020, 08:55 AM

New loan delinquencies and new loan transfers to special servicing within the Fitch-rated U.S. CMBS conduit universe increased substantially in May due to coronavirus. The majority of conduit remittances for May have now been reported and 30-day loan... Read Story

May 21, 2020, 09:10 AM

Earvin “Magic” Johnson, majority owner of EquiTrust, the nation’s largest minority-owned insurance company, announced a $100 million partnership with MBE Capital Partners (MBECP), the largest certified minority-owned asset-based lender, and the... Read Story

May 20, 2020, 09:15 AM

Regis Corporation, a leader in the haircare industry, whose primary business is franchising, owning, and operating technology enabled hair salons, announced that it successfully amended its $295 million revolving credit facility that expires in March... Read Story

May 20, 2020, 08:55 AM

Flexion entered into an amendment to its credit and security agreement with Silicon Valley Bank as agent, MidCap Financial Trust, Flexpoint MCLS Holdings, LLC, and the other lenders from time to time party thereto.  Pursuant to the amendment, the... Read Story

May 19, 2020, 09:20 AM

Cathay Capital Private Equity ("Cathay Capital" or "Cathay"), a leading international investment platform focused on cross-border investment and committed to supporting the international expansion of middle-market companies in North America, Europe... Read Story

May 18, 2020, 08:00 AM

Babcock & Wilcox Enterprises, Inc. entered into an agreement with its lenders amending and restating its existing credit agreement, dated as of May 11, 2015, among the Company, Bank of America, N.A., as administrative agent and lender, and the other... Read Story

May 15, 2020, 09:15 AM

Lenders are expecting default rates on middle market loans to spike in the second quarter as the fallout from the coronavirus pandemic makes an impact on the ability to repay debt.That's according to a story in Bloomberg News that cites a new new... Read Story

May 14, 2020, 09:10 AM

Second Avenue Capital Partners issued the following statement of support for businesses impacted by COVID-19:The COVID-19 outbreak has impacted families, communities, and businesses around the globe. Fluid, ever-changing conditions have increased the... Read Story

May 13, 2020, 09:00 AM

The coronavirus pandemic is causing sharp economic contraction and a rapid spike in unemployment that will lead to significant performance degradation in U.S. Marketplace Loan (MPL) portfolios and potentially imperil the viability of some MPL... Read Story

May 12, 2020, 08:00 AM

MidCap Financial announced that it has completed an equity offering of more than $300 million. This offering is part of a comprehensive strategy to enhance MidCap Financial's financial flexibility in order to further cement the company's position as... Read Story

May 07, 2020, 09:15 AM

UMB Capital Finance continues to fund millions in senior debt capital needs with the recent closings of four asset-based credit facilities. These new secured lines with commitments in excess of $21.3 million provide further financing resources to an... Read Story

May 07, 2020, 09:05 AM

Gordon Brothers, the global advisory, restructuring and investment firm, has released an article providing a perspective on the economic impacts of the coronavirus, available here.The coronavirus pandemic and the spread of COVID-19 is bringing the... Read Story

May 06, 2020, 09:10 AM

Walker & Dunlop, Inc. announced that it closed the largest transaction in company history; a $2.4 billion Fannie Mae Credit Facility to refinance 67 multifamily properties located in the Washington, D.C. metropolitan area. The borrower, Southern... Read Story

May 05, 2020, 09:00 AM

The Marcus Corporation entered into a First Amendment to its Credit Agreement, dated January 9, 2020, among the Company, the lenders from time to time party thereto, and JPMorgan Chase Bank, as administrative agent. The Credit Agreement provides for... Read Story

April 30, 2020, 09:15 AM

ABL Advisor has launched a new video series featuring exclusive interviews with highly respected leaders from various disciplines of commercial finance, allowing them to share their professional and personal insights into the impact the coronavirus... Read Story

April 29, 2020, 09:00 AM

Constitution Capital Partners (“CCP”), a leading alternative investment manager focused on North American private equity and private credit, today announced the final close of Ironsides V and related segregated mandates with total commitments of $1... Read Story

April 29, 2020, 08:30 AM

AvidXchange, a provider of accounts payable (AP) and payment automation solutions for the middle market, announced it has raised an additional $128 million in equity capital. This latest financing effort was oversubscribed with a total of more than... Read Story

April 24, 2020, 09:20 AM

Of the $14 billion in emergency loans made by JPMorgan Chase Bank through the government-backed Paycheck Protection Program, a disproportionate percent went to larger clients rather than the small firms expected to favor from the funds.Multiple media... Read Story

April 22, 2020, 09:10 AM

CVC Credit Partners announced that it has successfully raised $657 million for its second U.S. focused direct lending fund, CVC Credit Partners U.S. Direct Lending Fund II (“Fund II”). Fund II will follow the same strategy as its predecessor fund... Read Story

April 22, 2020, 08:55 AM

EY US (EY) has developed a Paycheck Protection Program (PPP) Loan Forgiveness Platform built on Microsoft technology, so that banks at this critical juncture in the US economic recovery can efficiently meet the increasing demands across the... Read Story

April 22, 2020, 08:00 AM

General Electric Company entered into a senior unsecured back-up revolving syndicated credit facility extended by 32 banks at an initial aggregate principal commitment amount of $15 billion (the “Senior Unsecured Credit Facility”). According to... Read Story

April 21, 2020, 09:00 AM

Sallyport Commercial Finance provided a $2,000,000 Accounts Receivable facility, including a $500,000 Cash Flow Loan to a company that provides a complete range of traffic control services for their customers.“When we connected with this traffic and... Read Story

April 20, 2020, 09:00 AM

Brown Gibbons Lang & Company announced the recapitalization of AIMS Companies ("AIMS") by Sterling Investment Partners ("Sterling") along with AIMS' founder and CEO, Chris Mihaletos, and its senior management team. Sterling is a leading middle market... Read Story

April 17, 2020, 08:55 AM

Partners Capital Finance Inc. DBA Archway Fund and the principals of alternative investment manager Oakhurst Advisors have successfully completed a recapitalization of the Los Angeles-based direct portfolio bridge lender, which will now originate... Read Story

April 16, 2020, 09:05 AM

Confirming the continued strong support of its key relationship banks, on 16 April 2020 ArcelorMittal (the “Company”) received underwriting commitments in respect of a new US$3bn credit facility (the “Credit Facility”).The Credit Facility represents... Read Story

April 16, 2020, 09:00 AM

In perhaps the last snapshot of the secured finance industry before the onset of the COVID-19 pandemic, banks and independent lenders reported that asset-based lending to U.S. businesses increased steadily and credit quality remained strong in the... Read Story

April 15, 2020, 09:05 AM

Crowd Machine, the leading provider of Platform-as-a-Service solutions for cross-cloud integration of enterprise applications with rapid no-code development, and Pacific Coast Capital LLC announced Pacific Coast Capital is leveraging Crowd Machine’s... Read Story

April 15, 2020, 09:00 AM

Gordon Brothers announced the launch of its Industry Brief, which can be found on the COVID-19 Resource Hub at www.gordonbrothers.com/covid-19.  Gordon Brothers’ Industry Brief gives an up-to-the-minute assessment of what the firm’s inventory... Read Story

April 14, 2020, 09:55 AM

Honeywell International Inc. entered into a 364-Day Credit Agreement with the banks, financial institutions and other institutional lenders party thereto, Citibank, N.A. (“Citibank”), as administrative agent, and JPMorgan Chase Bank, N.A., as... Read Story

April 13, 2020, 09:25 AM

HealthGrowth Capital, LLC, based in Austin, Texas, has closed a $16.8 million financing consisting of both debt and equity. "Our business has matured significantly since our founding nearly four years ago and we are pleased to have reached these... Read Story

April 09, 2020, 09:00 AM

Hilco Global has issued a timely perspective specific to OREO asset managers and their teams nationwide, to assist in productively guiding their early and ongoing actions through the very challenging economic upheaval associated with the COVID-19... Read Story

April 09, 2020, 08:55 AM

Hilco Global has issued a timely and relevant report on the unprecedented circumstances facing businesses and how they should adjust their existing, predictive forecasting models and the steps they should be following to ensure their own success in... Read Story

April 08, 2020, 08:45 AM

More than a week after Congress approved the largest fiscal stimulus in U.S. history, many companies still don't know if it will provide the financial lifeline they need to stay afloat, writes S&P Global Market Intelligence.Since the legislation... Read Story

April 06, 2020, 09:30 AM

LIBOR floors in US leveraged loan agreements can provide some cushion to US CLOs, which is supportive to credit when benchmark rates drop as seen during the current market turmoil linked to the coronavirus pandemic, Fitch Ratings says. Leveraged... Read Story

April 03, 2020, 09:30 AM

Marriott Vacations Worldwide announced that it has amended its non-recourse warehouse credit facility, expanding its borrowing capacity to $531 million, an increase of $181 million.Lenders include Deutsche Bank AG, Bank of America, N.A., Credit... Read Story

April 03, 2020, 09:15 AM

FTI Consulting, Inc. released the findings of its 2020 U.S. Loan Market Survey, which provides a glimpse into bank and non-bank lenders’ views against the backdrop of the COVID-19 pandemic and oil market price disruptions.According to the survey... Read Story

April 02, 2020, 09:10 AM

From the first quarter Phoenix Management “Lending Climate in America” survey results, which was conducted in late February, reveal the coronavirus and other factors will be leading economic driver in 2020.Lenders were asked to identify what they... Read Story

April 01, 2020, 09:25 AM

BlackRock, Inc and certain of its subsidiaries entered into Amendment No. 9 ("Amendment No. 9") to its Five-Year Revolving Credit Agreement, dated as of March 10, 2011, as amended by Amendment No. 1 thereto, dated as of March 30, 2012, Amendment No.... Read Story

April 01, 2020, 09:00 AM

Ares Capital Corporation announced that it has increased commitments under its Revolving Credit Facility (the Facility) to approximately $3.6 billion and extended the final maturity date to March 30, 2025. The Facility was led by JP Morgan, Bank of... Read Story

March 31, 2020, 09:15 AM

Ares Management Corporation, Sumitomo Mitsui Financial Group, Inc. and Sumitomo Mitsui Banking Corporation announced that they have reached a strategic agreement to collaborate on future business opportunities. As part of this agreement, SMBC will... Read Story

March 30, 2020, 09:15 AM

Cubic Corporation announced it entered into an amended and restated credit agreement, providing Cubic with a new $450 million unsecured term loan and upsizing Cubic’s existing unsecured revolving credit facility from $800 million to $850 million. The... Read Story

March 30, 2020, 09:07 AM

Owl Rock Capital Corporation announced the closing of Owl Rock CLO III, Ltd, a $395.31 million collateralized loan obligation transaction."We are pleased to close this transaction and further enhance our liquidity position with this long-term... Read Story

March 30, 2020, 09:05 AM

BWX Technologies, Inc. announced that it has entered into an amendment to its May 24, 2018 credit agreement with Wells Fargo Bank, N.A. and other lenders that increases its borrowing capacity while delivering lower rates for the company.The amendment... Read Story

March 26, 2020, 09:00 AM

Churchill Asset Management LLC, an investment-specialist affiliate of Nuveen providing customized financing solutions to private equity firms and their portfolio companies, today announced that it has completed fundraising for Churchill Middle Market... Read Story

March 25, 2020, 08:00 AM

Monroe Capital Corporation reported the purchase of more than 237,500 shares of MRCC common stock by officers and directors of the Company and senior management of Monroe Capital Management Advisors, LLC (“MCMA”), an affiliate of the Company’s... Read Story

March 19, 2020, 09:00 AM

The Federal Reserve Board announced that it will establish a Commercial Paper Funding Facility (CPFF) to support the flow of credit to households and businesses. Commercial paper markets directly finance a wide range of economic activity, supplying... Read Story

March 18, 2020, 09:15 AM

Velocity Financial and Barclays Bank PLC agreed to increase the capacity of its subsidiary Velocity Commercial Capital’s existing warehouse repurchase facility to $300 million in order to support the company’s loan origination growth.“We appreciate... Read Story

March 13, 2020, 09:03 AM

Revlon, Inc. together with its subsidiaries announced two important steps forward in strengthening the Company’s business, capital structure and foundation for future growth. First, the Company executed an agreement with Jefferies Finance LLC that... Read Story

March 11, 2020, 09:10 AM

36th Street Capital announced it increased its expandable senior secured revolving credit facility to $170 million in addition to amending terms to a new five-year facility.San Francisco, CA-based Wells Fargo Bank has joined the syndicate with an... Read Story

March 09, 2020, 09:15 AM

Bridge Bank announced it has extended a senior loan to Aura, a mission-driven financial technology company that offers affordable loans to hard-working families. The financing will be used to support the company’s rapid expansion as it provides... Read Story

March 06, 2020, 08:29 AM

Uncertainty over the intensity, geographic reach and duration of the coronavirus (COVID-19) outbreak is negatively impacting primary market activity and significantly increasing volatility, making it likely that capital markets revenue at the global... Read Story

March 05, 2020, 09:15 AM

More lenders are turning toward opportunities in the lower middle market, a function of stricter covenants, increased competition for larger deals and added protections of lending to smaller firms.Reuters reports that the growing size and... Read Story

March 04, 2020, 09:15 AM

Goldman Sachs BDC, Inc. announced that it has favorably amended its senior secured revolving credit facility agreement with Truist Bank (formerly known as SunTrust Bank), as administrative agent (as amended, supplemented or otherwise modified and in... Read Story

February 28, 2020, 08:55 AM

Hilco Corporate Finance, LLC (“HCF”), a mid-market investment bank and an operating unit of Hilco Global, announced the successful completion of a $70 million machinery and equipment sale leaseback transaction for the portfolio company of a... Read Story

February 26, 2020, 09:00 AM

Wells Fargo & Company announced it has entered into agreements with the U.S. Department of Justice (DOJ) and the U.S. Securities and Exchange Commission (SEC) to resolve these agencies’ investigations into the company’s historical Community Bank... Read Story

February 24, 2020, 09:10 AM

Pacific Western Bank announced it has provided a $6 million credit facility to new client, Cradle Genomics, creator of non-invasive prenatal testing solutions to be offered at the earliest stages of pregnancy. The company will utilize the facility to... Read Story

February 24, 2020, 08:00 AM

The transition from U.S. dollar (USD) London Interbank Offered Rate (Libor) to its likely replacement, the Secured Overnight Funding Rate (SOFR), presents heightened risks for U.S. financial institutions (FIs), Fitch Ratings says. Banks may face... Read Story

February 20, 2020, 09:10 AM

Hercules Capital, Inc. the largest and leading specialty finance provider to innovative, venture, growth and established stage companies backed by some of the leading and top-tier venture capital and select private equity firms, today announced that... Read Story

February 20, 2020, 09:03 AM

Pamlico Capital (“Pamlico”), a leading, lower middle market private equity firm focused on growth-oriented businesses, announced the first and final close of Pamlico Capital V (“PC V”) at the fund’s hard cap with total commitments of $1.4 billion. PC... Read Story

February 19, 2020, 08:10 AM

KKR, a leading global investment firm, announced the final closing of KKR Global Impact Fund SCSp, a $1.3 billion fund dedicated to investment opportunities in companies whose core business models provide commercial solutions to an environmental or... Read Story

February 12, 2020, 09:00 AM

Angelo, Gordon & Co., L.P., a $38 billion alternative investment firm focused on credit and real estate investing, announced the final closing of AG Credit Solutions Fund, L.P., with $1.8 billion of equity commitments.The Fund, which is the flagship... Read Story

February 11, 2020, 09:10 AM

PGIM Private Capital provided $13 billion of senior debt and junior capital to 228 middle-market companies and projects globally in 2019. PGIM Private Capital, a leading source of private capital for public and private companies, is the private... Read Story

February 10, 2020, 08:55 AM

First Eagle Alternative Credit, LLC announced the final closing of its fourth middle-market direct lending fund, THL Credit Direct Lending Fund IV (“Fund IV”), with $782 million of available investment capacity including leverage. First Eagle... Read Story

February 07, 2020, 08:39 AM

Babcock & Wilcox Enterprises, Inc. announced that the Company has amended its Credit Agreement to comprehensively refinance its debt in advance of its March 15, 2020 requirement. Under the terms of the Agreement, B. Riley FBR, Inc. has agreed to... Read Story

February 04, 2020, 09:00 AM

Griffon Corporation announced that it amended and restated its revolving credit facility  to increase the size of the facility from $350 million to $400 million and extend maturity from March 22, 2021 to March 22, 2025.Bank of America acts as... Read Story

January 31, 2020, 09:05 AM

Finacity Corporation (Finacity), a member of the Greensill family of companies, announced the close of a trade receivables securitization program for Black Box Corporation (“Black Box”), a subsidiary of AGC Networks Singapore Pte Limited (“AGC”). The... Read Story

January 31, 2020, 08:00 AM

Middle market chief financial officers are facing widespread shifts—from trade wars to digital disruption—but they aren’t backing down from the challenge. According to BDO’s 2020 Middle Market CFO Outlook Survey, 56% of middle market CFOs expect a... Read Story

January 30, 2020, 09:05 AM

Eight ex-Wells Fargo & Co. executives are facing a record $59 million in fines and the bank’s former CEO received a ban from the industry as regulators took unprecedented steps in holding individuals to account for corporate scandals, Bloomberg... Read Story

January 24, 2020, 09:10 AM

Wynnchurch Capital, L.P., a middle market private equity firm, announced the closing of its fifth private equity fund, Wynnchurch Capital Partners V, L.P  at $2.277 billion of committed capital.The Fund, which had a target of $1.6 billion, was... Read Story

January 23, 2020, 08:55 AM

Beezy Inc., the Intelligent Workplace solution for Microsoft Office 365, SharePoint and Teams, announced it has recently closed a $16,000,000 senior secured credit facility from Goldman Sachs Merchant Banking Division to accelerate growth and... Read Story

January 21, 2020, 09:00 AM

AvidXchange, a provider of accounts payable (AP) and payment automation solutions for the middle market, has raised $260 million in equity capital as part of the company's latest financing round.With contributions from TPG Sixth Street Partners and... Read Story

January 20, 2020, 09:00 AM

Middle market private companies in the Golub Capital Altman Index experienced approximate year-over-year earnings growth of 10% and reven