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First Brands Group announced that the Company has received approvals from the United States Bankruptcy Court for the Southern District of Texas for its “First Day” motions related to the Company’s chapter 11 cases for its U.S. operations.The Court granted approval to immediately access $500 million of the $1.1 billion in debtor-in-possession (“DIP”) financing from an ad hoc group of cross-holders (the “Ad Hoc Group”), which includes substantially all of the Company’s first lien debtholders. The Read Story

Field Under: Bankruptcy
October 03, 2025 @ 08:15 AM

JPalmer Collective (JPC) announced the addition of Frank Nicoletta as Head of Underwriting. Nicoletta brings more than a decade of experience in asset-based lending (ABL), with deep expertise in underwriting, portfolio management, operations and collateral analysis across both large corporate and middle-market sectors.“We are thrilled to welcome Frank to our growing team of financial leaders,” said Jennifer Palmer, founder and president of JPalmer Collective. “He is a dynamic, smart, and highly Read Story

October 03, 2025 @ 08:12 AM

MidCap Financial Investment Corporation amended and extended its senior secured, multi-currency, revolving credit facility. Lender commitments under the Facility total $1.610 billion, a decrease of $50 million. The final maturity date under the Facility was extended from October 17, 2029, to October 1, 2030. The applicable margin under the Facility was reduced by 10 basis points to 177.5 basis points.   The commitment fee was reduced by 5 basis points from 37.5 basis points to 32.5 basis points. Read Story

Field Under: Lender Finance
October 03, 2025 @ 08:10 AM

Alliance Entertainment Holding Corporation announced the closing of a new $120 million senior secured revolving credit facility with Bank of America. The five-year facility replaces Alliance’s previous asset-based lending (ABL) facility and will provide Alliance with enhanced financial flexibility to support its operations, growth initiatives, and working capital needs.Key Terms: Facility Size: $120 million senior secured revolving credit facility Term: Five years Interest Rate: SOFR plus Read Story

Field Under: Entertainment
October 03, 2025 @ 08:07 AM

OppFi, a tech-enabled digital finance platform that partners with banks to offer financial products and services to everyday Americans, closed a new $150 million revolving credit facility among one of its subsidiaries and funds managed by Castlelake L.P., replacing a prior facility. The new facility has a four-year term and represents a significant improvement in financing costs, with a reduction in the interest rate from SOFR + 7.5% to SOFR + 6.0%."We believe this transaction is a testament to Read Story

Field Under: Lender Finance
October 03, 2025 @ 08:00 AM

First Business Bank's Asset-Based Lending team closed and funded $15 million revolving line of credit to fund the acquisition of a distributor of communications and payment systems through a corporate divestiture transaction. "We're pleased to support our client's second acquisition with us, this time facilitating the purchase of a division from a Fortune 400 company," said Steve Bishop, President – Asset-Based Lending at First Business Specialty Finance, LLC, a subsidiary of First Business Bank Read Story

Field Under: Business Services
October 03, 2025 @ 07:54 AM

Enact Holdings entered into a new $435 million five-year senior unsecured revolving credit facility effective September 30, 2025 with a syndicate of eight banks, with JPMorgan Chase Bank serving as Administrative Agent and Joint Lead Arranger, and Truist Securities as Joint Lead Arranger. This Credit Facility replaces the previous $200 million senior unsecured revolving credit facility.Borrowings under the Credit Facility will accrue interest at a floating rate tied to a standard short-term Read Story

Field Under: Insurance
October 03, 2025 @ 07:50 AM

Pagaya Technologies, a global technology company delivering AI-driven product solutions for the financial ecosystem, amended and expanded its existing revolving credit facility to $132 million, more than doubling the prior $58 million facility.The expanded facility significantly reduces Pagaya’s cost of debt capital, lowering the interest rate by nearly 35% from SOFR+750 to SOFR+350. As a result, the cost of substantially all of Pagaya’s corporate borrowings are now at or below the Company’s Read Story

Field Under: Technology
October 03, 2025 @ 07:34 AM

Standard Premium Finance Holdings, a specialty finance company, closed a revolving credit facility providing up to $115 million in borrowing capacity, incorporating an initial commitment of $75 million and an additional $40 million accordion feature. The syndication, led by First Horizon Bank, includes participation from Flagstar Bank and Cadence Bank, bringing together three institutions with more than $220 billion in combined assets. The agreement carries a substantially lower interest rate Read Story

Field Under: Legal Finance
October 02, 2025 @ 08:15 AM

Amerisource Business Capital closed and funded a $3,000,000 working capital facility for a North Dakota-based transportation and cargo company. The proceeds were used to provide working capital after the company’s previous lender imposed restrictive availability, limiting growth and operational flexibility.Courtney Mark, Business Development Officer (ABL) for Amerisource, stated: "Amerisource provided a tailored financing solution to meet the company’s working capital needs and support ongoing Read Story

Field Under: Trucking
October 02, 2025 @ 08:12 AM

LiftHigh Crane & Rigging secured a revolving credit facility with Cadence Bank. This new financing provides additional liquidity and marks a significant milestone in the company's continued growth and expansion. "From the beginning, Cadence was very pleasant to work with and reasonable in their approach," said Brad Hopper, Chief Financial Officer of LiftHigh. "We're all looking forward to a strong relationship and some amazing growth." "Cadence Bank has been a great partner to me personally for Read Story

Field Under: Construction
October 02, 2025 @ 08:09 AM

Deloitte Insights has released its third quarter United States Economic Forecast, noting that the future path of the U.S. economy hinges largely on how tariffs and immigration play out, with each shaping growth, prices and investment in different ways. Here is a summary of Deloitte's report. Since June, economic uncertainty has intensified, prompting three updated forecast scenarios—baseline, downside and upside. These are not precise predictions but tools to frame possible outcomes for the U.S Read Story

Field Under: Economy
October 02, 2025 @ 07:45 AM

Wingspire Equipment Finance successfully closed its second asset-backed securitization (ABS), WEF 2025-1. The transaction raised over $292 million and included six classes of notes, the uppermost of which received the highest achievable ratings of F1+/K1+ and AAA from Fitch Ratings and Kroll Bond Rating Agency.The transaction was backed by a diverse portfolio of equipment loans and leases spanning numerous industries. The transaction was more than 6x oversubscribed, reflecting strong investor Read Story

October 02, 2025 @ 07:42 AM

Greystone announced that Joe James has joined the company as Head of Asset Management for Bridge Lending. Based in Dallas, he is responsible for overseeing all aspects of Greystone’s healthcare and multifamily bridge loan asset management platform, including portfolio analysis, surveillance, and problem loan resolution.James brings more than 30 years of commercial real estate finance experience to Greystone, having worked across all major markets and property types, including multifamily Read Story

October 02, 2025 @ 07:26 AM

A timed online auction by Tiger Group on October 9 features more than 45 excess chemical fleet truck tractors and trailers in 14 states, including 27 Freightliner assets in operation for less than a decade.  “This national sale event is an outstanding opportunity for companies in the chemical, transportation and oil-and-gas sectors to bolster their fleets by acquiring secondary-market inventory,” said Tiger Group’s Jay Patino, Director of Business Development, Energy. “On offer is a robust mix Read Story

Field Under: Auction News
October 02, 2025 @ 07:04 AM