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ABL Industry Service Providers & Specialty Lenders
Citizens Commercial said it provided a $31.5 million asset-based lending facility to Dover Saddlery. Additionally, a $11 million term loan was provided by Garmark SBIC Advisors.
US Capital Partners said it has put in place a second round of financing in the form of a follow-on term loan to support the expansion of Tora Ventures, a Canadian distributor of roofing materials.
Coal producer Alpha Natural Resources filed for Chapter 11 in an effort to cut its debt load. Court documents show pre-petition loan balances owing of $611 million to Citibank and $445 million to GE Capital.
Bloomberg reported that one of the participants in a $1.5 billion term loan that JPMorgan Chase made to GM before its bankruptcy is now suing the bank and its lawyers at Simpson Thacher & Bartlett.
The Irish Times reported that former Citi trader Tom Hayes was sentenced to 14 years in jail after he became the first person to be convicted by a jury of rigging Libor.
The National Association of Credit Management’s July Credit Managers’ Index showed a positive recovery to a 56 rating, up from 53.4 in June. The reading was the highest since October of last year.
Macquarie Group officially closed its planned acquisition of Advantage Funding on July 31.
Foundation HealthCare reached an agreement with Bank SNB and Texas Capital Bank on the terms of a $10 million acquisition line and an additional uncommitted $10 million incremental credit facility.
Quotient Limited, a commercial-stage diagnostics company, entered into an amended agreement with MidCap Financial to increase its existing term credit facility up to $50 million.
GE Capital’s Franchise Finance business said it has provided a $30.7 million loan to Serazen to refinance debt and to acquire and re-image 50 Hardde’s units in NC and SC.
Aug 6, 2015: 11th Annual Mid-Atlantic Bankruptcy Workshop
Sep 2, 2015: 11th Annual Northeast Regional Conference
Sep 10, 2015: 23rd Annual Southwest Bankruptcy Conference
Sep 10, 2015: NJTMA Networking Breakfast - Bridgewater
Sep 10, 2015: Transportation Factoring Meeting
Sep 18, 2015: 20th Annual Thomson Reuters LPC Loan And CLO Conference