http://www.abfjournal.com ABF Journal 30 Fri, 3 Feb 2012 10:56:33 -0500 German-based packaging machinery maker Krones AG said it is in mediation talks with a number of U.S.-based finance companies seeking compensation over the firm's alleged participation in a large-scale fraud by U.S.-based Le-Nature's. http://www.abfjournal.com/story.asp?id=36066 Thu, 2 Feb 2012 10:42:0 -0500 Kayne Anderson Senior Credit Partners, part of Kayne Anderson's expanded middle-market lending platform, along with a co-investor, provided a $22.5 million commitment to a term loan used to support KPS Capital Partner's acquisition of American & Efird. http://www.abfjournal.com/story.asp?id=36067 Thu, 2 Feb 2012 10:42:28 -0500 Latitude Solutions and Crestmark Bank have finalized the establishment of a $5 million revolving asset-based line of credit. http://www.abfjournal.com/story.asp?id=36068 Thu, 2 Feb 2012 10:43:6 -0500 Intertape Polymer Group announced the extension of its $200 million asset-based loan facility with a syndicated lending group led by Bank of America, Merrill Lynch and Wells Fargo Capital Finance. http://www.abfjournal.com/story.asp?id=36069 Thu, 2 Feb 2012 10:43:27 -0500 Prestige Capital has announced a new $3.5 million non-recourse financing facility for Content Critical. http://www.abfjournal.com/story.asp?id=36070 Thu, 2 Feb 2012 10:43:45 -0500 H.I.G. Capital has completed the sale of Service Net to Chartis U.S., a wholly owned subsidiary of American International Group. H.I.G. Capital completed the transaction in partnership with Bayside Capital. http://www.abfjournal.com/story.asp?id=36072 Thu, 2 Feb 2012 10:45:36 -0500 CIT has commenced an offering through a private placement of Series C Second-Priority Secured Notes due 2015 and Series C Second-Priority Secured Notes due 2019. CIT plans to use the net proceeds from the offering for general corporate purposes and the refinancing of other outstanding indebtedness. http://www.abfjournal.com/story.asp?id=36073 Thu, 2 Feb 2012 10:45:58 -0500 First Capital announced the hiring of Will Olivencia as vice president and underwriter in First Capital's MidSouth regional office located in Atlanta. Previously, he held positions at Wells Fargo, GE Capital, CIT Group and GMAC Commercial Finance. http://www.abfjournal.com/story.asp?id=36074 Thu, 2 Feb 2012 10:46:10 -0500 Bankruptcy petition rates have nearly returned to pre-recession index levels, with commercial petitions for bankruptcy decreasing 44% since their peak in Q2/09 through Q4/11, according to Equifax Commercial Information Solutions analysis. http://www.abfjournal.com/story.asp?id=36075 Thu, 2 Feb 2012 10:46:26 -0500 American Laser Centers has received approval from U.S. Bankruptcy Judge Mary F. Walrath in the U.S. Bankruptcy Court in the District of Delaware to sell its assets to a Versa Capital Management affiliate, a Bloomberg article reported. http://www.abfjournal.com/story.asp?id=36076 Thu, 2 Feb 2012 10:47:6 -0500 Tranzyme Pharma received an additional net $9.3 million in term loan proceeds through an amendment and restatement of its existing debt financing facility with Oxford Finance and Horizon Technology Finance. http://www.abfjournal.com/story.asp?id=36071 Thu, 2 Feb 2012 0:0:0 -0500 Reuters reported that CIT Group will again stop providing loans to suppliers of Sears after January 31, as the business lender awaits more information on the retailer's financial health, citing two retail sources. http://www.abfjournal.com/story.asp?id=36052 Tue, 31 Jan 2012 16:14:19 -0500 GE Capital, Healthcare Financial Services said it provided more than $7 billion in financing to U.S. healthcare customers in over 200 transactions in 2011. http://www.abfjournal.com/story.asp?id=36051 Tue, 31 Jan 2012 16:14:2 -0500 GE Capital and GE Healthcare announced an investment in Check-Cap, a developer of an ingestible imaging capsule that may help detect colorectal cancer. The investment is being made through the GE healthymagination Fund, an equity fund that makes investments in highly promising healthcare technology companies. http://www.abfjournal.com/story.asp?id=36065 Wed, 1 Feb 2012 17:2:23 -0500 US Capital Partners has secured a $7.75 million credit facility for Butler-Johnson. US Capital Partners served as lead arranger in the financing. http://www.abfjournal.com/story.asp?id=36050 Tue, 31 Jan 2012 16:13:39 -0500 Petroleum Capital Advisors, an advisory firm specializing in assisting lenders and note buyers of distressed gas station/C-Store loans announced its opening. http://www.abfjournal.com/story.asp?id=36063 Wed, 1 Feb 2012 17:0:44 -0500 CoBiz Financial has formed CoBiz Structured Finance to provide asset-based loans to middle-market businesses within the company's footprint. Chris Randall, previously a co-founder, board member and COO of MFC Capital Funding, will lead the group. http://www.abfjournal.com/story.asp?id=36049 Tue, 31 Jan 2012 16:12:59 -0500 Bloomberg reported that manufacturing probably grew at a faster pace in January, a sign the industry will lead the U.S. expansion this year. Bloomberg noted that factory production is poised to keep expanding as the need to update equipment drives orders. http://www.abfjournal.com/story.asp?id=36062 Wed, 1 Feb 2012 10:46:6 -0500 The gains from the end of last year have carried forward according to the January Credit Managers' Index (CMI), which rose from 54.4 to 54.8. http://www.abfjournal.com/story.asp?id=36048 Tue, 31 Jan 2012 11:10:46 -0500 United Retail Group initiated Chapter 11 proceedings in the U.S. Bankruptcy Court for the Southern District of New York and is pursuing a sale process under section 363 of the Bankruptcy Code. http://www.abfjournal.com/story.asp?id=36060 Wed, 1 Feb 2012 10:45:1 -0500 Gladstone Commercial amended its line of credit established in December 2010 and previously amended in 2011 to increase the current maximum availability of credit from $50 million to $75 million. http://www.abfjournal.com/story.asp?id=36059 Wed, 1 Feb 2012 10:44:39 -0500 SnagFilms arranged its first debt facility with Silicon Valley Bank. http://www.abfjournal.com/story.asp?id=36047 Tue, 31 Jan 2012 11:10:30 -0500 Executives at U.S. middle-market energy companies are bullish on their outlook for 2012. This optimism among executives is fueling growth, as 85% expect to seek financing this year, according to Mike Lorusso, group head of CIT Energy. http://www.abfjournal.com/story.asp?id=36058 Wed, 1 Feb 2012 10:44:27 -0500 Eric Simonson has joined Blank Rome as a partner in the Mergers & Acquisitions and Private Equity group, based in the firm's New York office. Previously, he was a partner in the Corporate practice at K&L Gates. http://www.abfjournal.com/story.asp?id=36046 Tue, 31 Jan 2012 11:10:6 -0500 Golub Capital BDC has priced an underwritten public offering of 3.5 million shares of common stock at $15.35 per share. Wells Fargo Securities and UBS Investment Bank are acting as joint bookrunning managers for the offering. http://www.abfjournal.com/story.asp?id=36045 Tue, 31 Jan 2012 11:9:53 -0500 Catalyst Paper announced that to facilitate an orderly restructuring of its business and operations, it will commence proceedings under CCAA. The company has secured up to $175 million in debtor-in-possession financing from J.P. Morgan Chase. http://www.abfjournal.com/story.asp?id=36057 Wed, 1 Feb 2012 10:43:32 -0500 BankruptcyData.com announced that the 17th-largest publicly traded bankruptcy of 2001, chemical and construction holding company W.R. Grace & Co., which listed $2.6 billion in pre-petition assets, received approval of its plan. http://www.abfjournal.com/story.asp?id=36056 Wed, 1 Feb 2012 10:43:11 -0500 Midwest Business Credit, a wholly owned subsidiary of Q Lotus Holdings has concluded a definitive agreement for the purchase of the assets and the business of Midwest Business Credit. http://www.abfjournal.com/story.asp?id=36044 Tue, 31 Jan 2012 11:9:37 -0500 Ahern Rentals announced that the U.S. Bankruptcy Court for the District of Nevada approved the final DIP financing with $66 million of availability, led by Bank of America, as administrative agent and decision agent, Wells Fargo, as collateral agent and decision agent and Merrill Lynch as lead arranger. http://www.abfjournal.com/story.asp?id=36043 Tue, 31 Jan 2012 11:9:19 -0500 First Capital has provided a $7.5 million asset-based senior credit facility to Gardner Glass Products, a producer of mirror and glass products in the U.S. The senior credit facility consists of a $6.5 million working capital revolver and a $1 million machinery and equipment term loan. http://www.abfjournal.com/story.asp?id=36055 Wed, 1 Feb 2012 10:42:50 -0500 Wells Fargo & Company announced that Wells Fargo Bank has completed its acquisition of Burdale Financial Holdings Limited and the portfolio of Burdale Capital Finance from Bank of Ireland. The transaction, officially announced on December 19, 2011, closed on February 1. http://www.abfjournal.com/story.asp?id=36053 Wed, 1 Feb 2012 10:42:10 -0500 Pep Boys has entered into a definitive merger agreement under which it will be acquired by investment firm The Gores Group. Total enterprise value of the transaction is approximately $1 billion. http://www.abfjournal.com/story.asp?id=36040 Tue, 31 Jan 2012 11:7:59 -0500 LBC Credit Partners and Crystal Financial announced they provided a $74.2 million senior secured term loan in support of Halifax Media Holdings' purchase of The New York Times Company Regional Media Group. http://www.abfjournal.com/story.asp?id=36038 Tue, 31 Jan 2012 11:7:25 -0500 NewStar Business Credit has provided an $18 million revolving credit facility to True Science. The credit facility will be used to meet working capital requirements and provide expansion capital to support growth. http://www.abfjournal.com/story.asp?id=36054 Wed, 1 Feb 2012 0:0:0 -0500 Forest Capital provided a $500,000 A/R credit line to a Florida-based manufacturer of highly engineered power systems, enclosures, trailers and tanks. http://www.abfjournal.com/story.asp?id=36061 Wed, 1 Feb 2012 0:0:0 -0500 Galls, a marketer and distributor of public safety, first responder and private security products, has merged with Quartermaster. PNC Business Credit, AEA Mezzanine and PennantPark Investment provided financing for the transaction. http://www.abfjournal.com/story.asp?id=36037 Tue, 31 Jan 2012 11:7:11 -0500 American Reprographics Company (ARC), a document solutions company for the architecture, engineering, and construction industry, has closed a new asset-based senior secured credit facility with Wells Fargo Bank that was arranged by Wells Fargo Capital Finance. http://www.abfjournal.com/story.asp?id=36036 Tue, 31 Jan 2012 11:6:58 -0500 Lightyear Capital announced that an affiliated investment fund has acquired Paradigm Acquisition, a provider of outsourced catastrophic workers' compensation case management services for insurance companies and self-insured employers. Harris Williams & Co. acted as an advisor to Paradigm. http://www.abfjournal.com/story.asp?id=36064 Wed, 1 Feb 2012 0:0:0 -0500 CIT reported Q4 and FY net income was $34 million and $28 million, respectively, compared to $83 million and $526 million for the same periods in 2010. The company said funded new business volume of $2.9 billion increased 55% sequentially and 92% from the prior-year quarter. http://www.abfjournal.com/story.asp?id=36035 Tue, 31 Jan 2012 11:6:41 -0500 As previously announced, Lee Enterprises, a provider of local news, information and advertising in 52 markets, has implemented comprehensive refinancing agreements. The refinancing agreements were approved by the U.S. Bankruptcy Court for the District of Delaware and allows the company to emerge from Chapter 11 protection. http://www.abfjournal.com/story.asp?id=36039 Tue, 31 Jan 2012 0:0:0 -0500 AssureRx Health secured an $8 million term and revolving credit facility with its new banking partner Silicon Valley Bank. http://www.abfjournal.com/story.asp?id=36041 Tue, 31 Jan 2012 0:0:0 -0500 Debtwire's seventh annual North American Distressed Debt Market Outlook survey shows that investors are only cautiously optimistic for 2012 despite the recent increase in restructuring headlines and market volatility. http://www.abfjournal.com/story.asp?id=36042 Tue, 31 Jan 2012 0:0:0 -0500 According to a Turnaround Management Association poll, six out of ten corporate restructuring specialists think a double-dip recession is likely within six to 18 months. http://www.abfjournal.com/story.asp?id=34597 Wed, 31 Aug 2011 15:45:16 -0500 North Mill Capital has acquired PrinSource Capital Companies, a provider of factoring and asset-based loans in the Midwest. North Mill received an equity investment from its current shareholders, led by Monitor Clipper Partners, and a material increase in its debt credit facility led by IDB Bank of New York. http://www.abfjournal.com/story.asp?id=35766 Tue, 3 Jan 2012 0:0:0 -0500 NewStar Business Credit announced it has provided a $16 million revolving credit facility to Accubuilt. The credit facility will be used to partially recapitalize the company. http://www.abfjournal.com/story.asp?id=34596 Wed, 31 Aug 2011 15:44:58 -0500 Crowell & Moring announced it has elected two attorneys to the firm's partnership: Matthew W. Cheney was named a partner in the Financial Services Group and Bankruptcy and Restructuring practice, and Kelly G. Howard was named a partner in the firm's Corporate Group. http://www.abfjournal.com/story.asp?id=36034 Mon, 30 Jan 2012 11:48:37 -0500 Gladstone Capital invested $10.3 million in North American Aircraft Services. Gladstone Capital provided debt and equity financing together with NAAS president Scott Hagler to support the acquisition of NAAS by private equity sponsor Mangrove Equity Partners. http://www.abfjournal.com/story.asp?id=34594 Wed, 31 Aug 2011 10:18:18 -0500 Lawrence Financial Group closed three transactions with a total of $14 million of lines of credit in January. http://www.abfjournal.com/story.asp?id=36033 Mon, 30 Jan 2012 11:48:7 -0500