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The Latest Asset-Based Finance Transactions
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ABL Industry Service Providers & Specialty Lenders
Prospect Capital said it provided a commitment to support the acquisition of Bay Area Addition Research and Treatment by an investment fund affiliated with Webster Capital Management.
Concord Financial Advisors said it successfully completed a search for debt financing and closed a $15 million credit facility for Tap Room Gaming. The funds were used by TRG to complete the acquisition of a strategic competitor.
TD Bank said it has promoted Joseph A. Iannuccilli to vice president, business development officer in Asset-Based Lending. He will be responsible for ABL relationships across the Mid-Atlantic region.
Prospect Capital provided Global Employment Solutions, an existing portfolio company of Prospect, with an incremental $22.5 million of senior secured floating rate debt to support the acquisition of Information Technology Engineering.
The Justice Department filed an antitrust lawsuit to stop Electrolux from buying GE’s appliance business. Official says “proposed acquisition would leave millions of Americans vulnerable to price increases.”
TriMas said it closed an amendment to its existing credit facilities, comprised of a $500 million revolver and a $275 term loan, in conjunction with the recent spin-off of its Cequent businesses. J.P. Morgan was said to have led the refinancing process.
Halcyon Agri said it completed a refinancing of up to $413 million with mandated lead arrangers ABN AMRO, Credit Suisse and DBS.
PNC Bank Canada said it closed a C$30MM ABL revolver for Gracious Living, a manufacturer and retail supplier of injection-molded resin products, including outdoor furniture and housewares.
In the second half of June, Crestmark completed a total of 11 transactions worth $22.1 million, marking a significant increase over the first half of the month.
Sterling Bancorp has completed its previously announced merger with Hudson Valley Holding, forming an institution with $11.2 billion in assets.
Jul 9, 2015: ABI: Northeast Bankruptcy Conference
Jul 15, 2015: TMA Western Regional Conference
Jul 23, 2015: 20th Annual Southeast Bankruptcy Workshop
Jul 23, 2015: Factoring Government Receivables Training Class
Aug 6, 2015: 11th Annual Mid-Atlantic Bankruptcy Workshop
Sep 2, 2015: 11th Annual Northeast Regional Conference