Fifth Street’s Q3 2016 Capital Markets Outlook

At $10.2 billion, middle market sponsored volume fell 12% from the second quarter, though it remains up from the $8.2 billion issued in the first quarter. From a cumulative standpoint, sponsored volume continues to fall short of 2015’s run rate: year-to-date volume stands at $30 billion, a 19% decline from the comparable period last year. 2016 may now shape up to be the slowest for sponsored lending since 2009.

Fifth Street’s Q2/16 Capital Markets Outlook

Totaling just $7.33 billion, sponsored middle market loan volume reached a six-year low in the first quarter — exceptionally weak even when viewed against the traditional seasonal pattern of lighter volume. On the heels of a sluggish year in 2015, Fifth Street remained cautious in its outlook for the new year; yet, volume dropped more precipitously than expected. Sponsored issuance was down 45% from Q4/15 and 31% on a year-over-year basis.

IP Asset Value as Collateral:  The Increasing Use of Patents as Collateral in Asset-Based Lending

Sung Kim of Appraisal Economics discusses the emerging trend of using patents as collateral in asset-based lending.

Privately Owned and Ready to Grow: Miller’s ABL Journey Takes Him Back to Rosenthal & Rosenthal

When Rob Miller took over as the head of the asset based lending group at Rosenthal & Rosenthal at the end of March, it marked a homecoming for the 30-year veteran of the financial services industry. In the months that followed, Miller has assessed the portfolio of the privately-owned company and positioned it for a “limitless future.”

Realigning for the Global Customer: WFCF’s New Team Talks Action Imperatives

ABF Journal caught up with the newly-appointed leadership team at Wells Fargo Capital Finance to discuss their plans for the recently realigned Corporate Finance, Industries and Global Capital Solutions groups. With a continued focus on growth and customer financial success, the team shares their plan of action for the first 90 days — and for any challenges they may encounter on the road ahead.

U.S. ABL Facilities Demonstrate Full Recovery in Bankruptcy

According to a new Fitch Ratings report, U.S. asset-based lending (ABL) facilities present in a defaulted issuer’s capital structure demonstrated complete recoveries in a bankruptcy scenario.

Hostess Case — Bankruptcy Court Refuses to Send Cash Collateral Dispute to Arbitration

U.S. Bankruptcy Court Judge Robert Drain’s decision in the Hostess case demonstrates that even if a dispute between a debtor and a third party is arguably subject to a pre-petition arbitration clause, that dispute may not be subject to arbitration if it is considered a “substantially” core aspect of the bankruptcy process.