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.

The Cryptocurrency Conundrum — A Primer for Secured Lenders Entering the Cryptocurrency Space

Like personal computers, smartphones and the internet, cryptocurrencies are here to stay. For the secured lender, the blockchain technology that protects the privacy of the borrower can present an obstacle to securing collateral and receiving repayment. Alan Rosenberg provides a detailed explanation of the technology and a guide for lenders to protect themselves in cybercurrency transactions.

Lending to Technology Companies: Collateral versus Cashflow?

As the U.S. changed from a manufacturing to a service-based economy, ABL lenders faced a growing array of challenges, including lending to software companies and coping with rapid hardware obsolescence. Hugh C. Larratt-Smith speaks with key lenders in this industry and learns how lending to technology has changed in the last 40 years.

Finding White Oak: A.E. Wease Completes its Search for a New Lender

A. E. Wease Distributors, a 90-year old family-run business, spent five years as the borrower of a large Midwest-based bank. But the bank got cold feet about lending to Wease after a major customer was acquired and no longer needed a distributor. ABF Journal editor Nadine Bonner spoke with Wease’s Charles Tandy and Pete McCaffrey, who explained the process that brought them into a successful relationship with their new lender, White Oak Commercial Finance.

Credit Suisse Supports $1.5B Pacific Drilling Recap

Pacific Drilling has made progress in connection with its Chapter 11 proceedings, including receiving a commitment from Credit Suisse Securities to support a $1.5 billion recapitalization of the company’s capital structure.

Wells Fargo Promotes Khoury to Lead Portland MM Banking

Wells Fargo appointed Megdy Khoury to lead Middle Market Banking in greater Portland, OR as regional manager.

NYT: Reports of Retail Death are Premature

The New York Times reported a resurgence in the retail industry among companies that have learned their lessons from Amazon’s success and are adapting.

BMO Closes $200MM Aurora Cannabis Debt Facility

Aurora Cannabis closed its previously announced debt facility with the Bank of Montreal, consisting of a $150 million term loan and a $50 million revolving credit facility.

Authentic, SB360 Capital Bid $22MM for HHG Brands

Heritage Home Group closed an agreement for a newly-formed entity of Authentic Brands Group and SB360 Capital Partners to acquire HHG’s Broyhill and Thomasville & Co and to serve as Stalking Horse bidder in the upcoming court-supervised auction.