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ABFJ July August 2016 Cover

July/August 2016

ABL Borrowers' Issue
Vol. 14 No. 5
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COVER STORY

Cross-Border Asset-Based Lending: A Critical Tool for the CFO - Globalization is impacting businesses of all sizes. Wells Fargo Capital Finance Managing Directors Barry Bobrow and Joye Lynn explain why asset-based loans can provide businesses with more liquidity and offer flexibility to accommodate different jurisdictions.

FEATURES

No, Actually Malls Aren’t Dead: Three Reasons Why - It seems like only yesterday that the mall replaced Main Street as the place to hang out with friends, grab a burger or hunt for a pair of trendy jeans. Now the internet and social media have turned many malls into ghost towns as brick-and-mortar stores struggle to stay afloat and kids hang out on Snapchat and Instagram instead of the food court. But many malls are fighting back and using technology to reinvent themselves. Writer/editor Natalie Burg reports that malls aren’t dead yet.
U.S. Bank’s ABL Team Courted Patrick Lumber for Eight Years: The Resulting Marriage Is a Success - Patrick Lumber, a 100-year old family business in Portland, OR, was looking for a credit facility that didn’t require personal guarantees from its board members. U.S. Bank’s ABL team courted Patrick Lumber for eight years, convinced it was a good fit for the bank. In March, the company left its lender of five years and signed a $20 million ABL deal with U.S. Bank. ABF Journal Editor Nadine Bonner spoke with Patrick Lumber CFO Mark Auxier and members of the U.S. Bank team to learn why the company switched to an ABL and how U.S. Bank cemented its relationship with the company.
Factoring 101: Growing a Business by Using Factoring - Factoring — selling invoices for cash to obtain working capital — can provide a business with much-needed liquidity to spur growth. Robinn Mikalic has spent 18 years in the factoring business. A passionate factoring advocate, she uses real life examples to illustrate how factoring works and how businesses can best use it to generate cash and promote growth.
Starting from Scratch: Keith Broyles and Yvonne Kizner Build an ABL Division at Blue Hills Bank - When Blue Hills Bank, a 140-year old community bank, decided to start an ABL division, it offered veteran ABL lenders Keith Broyles and Yvonne Kizner the opportunity to build the new division from scratch. The pair jumped at the chance. They spoke with ABF Journal Editor Nadine Bonner and shared their optimism and excitement about this new venture.

TURNAROUND CORNER

Surviving a Restructuring: Developing a Strategy for Small- and Medium- Sized Debtors - Many small- and medium-sized businesses fail to succeed in restructuring through Chapter 11 because of the expense and lack of manpower. Stephen Selbst provides a step-by-step guide to preparing for Chapter 11 that will help companies control the process and produce a successful outcome.

SPECIALTY LENDING

View from the Mezzanine: How Structured Finance Can Spur Growth for Middle Market Companies - A structured capital strategy, combining debt and equity securities, can give smaller businesses more flexibility in the current lending environment where traditional bank finance remains constrained and restrictive. David Bainbridge explains how this approach can spur growth for middle market companies.

LEGAL LINES

Lenders Beware: Failure to Investigate Suspicious Facts Can Void Your Security - If a deal seems suspicious in the early stages, the lender is required to go the extra mile to confirm that the borrower is being 100% honest. Michael Molinaro explains that the court expects a lender to check for fraud before a transfer of collateral is made. Failure to investigate can prove expensive.

FINAL CUT

Seven Banks to Pay $324MM in Rate Rigging Case - Seven of the world's biggest banks have agreed to pay $324 million to settle claims they conspired to rig an interest rate benchmark used in the derivatives market. ABF Journal illustrator Jerry Gonzalez envisions the judgement day.

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