Aegean Marine $532MM DIP Approved by Court

Aegean Marine Petroleum Network received interim court approval of its $532 million debtor-in-possession facility provided by Mercuria Energy Group. The loan allows Aegean Marine to continue operating while restructuring.

ABI: Exempting Veterans’ Benefits in Bankruptcy Will End Disparate Treatment of Financially Struggling Vets Under the Code

Disparate treatment of veterans’ benefits in bankruptcy presents significant hardship to some veterans, and corrections to the Bankruptcy Code should be made immediately, according to a November ABI Journal article.

Why Are MCAs Doing So Well in the Courts?

Merchant Cash Advances (MCAs) are a divisive issue in the lending community, with good reason. Jeffrey Wurst examines the pitfalls that can undermine an ABL lender and observes that many judges make rulings regarding MCAs without fully understanding the nuances of the issues.

Are You Ready to Start Factoring Construction Receivables?

The construction industry is in growth mode, which can offer great opportunities for factors. However, a certain amount of technical knowledge is required to successful navigate these projects. Bruce Loren explains how careful due diligence can help factors take advantage of this lucrative market.

September/October 2018

September/October 2018
Borrower’s Issue
Vol. 16, No. 6

Bank Leumi Hires Fagnani to Head New ABL Division

Mark Fagnani, head of Bank Leumi’s new ABL division, has spent his career at some of the nation’s top ABL lenders. Cartoonist Jerry Gonzalez illustrates the trajectory of Fagnani’s career.

Pitfalls and Benefits of Offering ABL Loans to Large Public Companies

Lending to large, public companies can burnish an ABL lender’s reputation and offer a unique opportunity to expand its business model. Lon M. Singer explains how to navigate through these complex and ultimately rewarding deals.

Factors Driving Success in Middle-Market Restructuring

What goes up must come down, and David Johnson points out that the current strong economy will eventually turn downward. Urging lenders to be prepared for the next downturn, he offers practical ways to assess a restructuring plan.

Out of Retirement, Into a New Challenge: Fagnani Leads New Bank Leumi ABL Division

With roots in Tel Aviv and branches the world over, Bank Leumi lacked only one thing — an ABL division. The bank corrected the situation this spring and hired Mark Fagnani, a veteran of many outstanding ABL institutions, to lead it. Fagnani shares his vision for Leumi and his mantra for success with ABF Journal editor Nadine Bonner.

Benefits of Fund-Level Debt in Acquisition Finance

Fund financing is one of the fastest growing areas of the leveraged loan market. Frederick C. Fisher, Zachary K. Barnett, Christopher M. Chubb and Anastasia N. Kaup explain the advantages of using fund level debt financing over traditional financing when acquiring portfolio companies.