http://www.abfjournal.com ABF Journal 30 Thu, 11 Mar 2010 12:15:11 -0500 ABF Journal, NYIC and the TMA's Philadelphia Chapter are pleased to announce participants attending the Third Annual Educational and Networking Conference are eligible to receive up to five Continuing Professional Education Credits. http://www.abfjournal.com/story.asp?id=29425 Wed, 10 Mar 2010 11:48:29 -0500 Clark Holdings has closed on a new $6 million revolving credit facility with Cole Taylor Bank. Proceeds from Clark's initial draw on the new facility will repay the outstanding balance on its previous credit facility with Bank of America. http://www.abfjournal.com/story.asp?id=29426 Wed, 10 Mar 2010 0:0:0 -0500 The New York Times reported that MGM is considering alternatives to help the legendary film studio reorganize its approximately $4 billion debt load. One option includes a prepackaged bankruptcy plan. http://www.abfjournal.com/story.asp?id=29427 Wed, 10 Mar 2010 11:50:13 -0500 OM Group has entered into a new $250 million secured revolving credit facility with a syndicate of lenders, led by PNC Bank. The new facility replaces the previous $100 million facility, which was due to expire in December of 2010. http://www.abfjournal.com/story.asp?id=29428 Wed, 10 Mar 2010 11:50:37 -0500 According to the Canadian Press, Goldman Sachs Capital Partners is trying to appeal the Superior Court of Ontario's ruling that would allow Shaw Communications to acquire Canwest Global Communications' television assets. http://www.abfjournal.com/story.asp?id=29429 Wed, 10 Mar 2010 11:51:47 -0500 Hercules Technology Growth Capital has committed $25 million in debt financing of a $45 million syndicated credit facility to Velocity Technology Solutions. The company also increased its commitment to grow the operations of InfoLogix. http://www.abfjournal.com/story.asp?id=29430 Wed, 10 Mar 2010 11:52:29 -0500 Robert S. Hull will join Providence Equity Partners as chief financial officer in early April. Hull will join Providence from GMAC where he has served as executive vice president and chief financial officer since 2007. http://www.abfjournal.com/story.asp?id=29431 Wed, 10 Mar 2010 0:0:0 -0500 Denbury Resources has closed its acquisition of Encore Acquisition Company and entered into a new $1.6 billion 24-bank credit facility, with JPMorgan Chase as administrative agent. http://www.abfjournal.com/story.asp?id=29432 Wed, 10 Mar 2010 11:53:54 -0500 QuadraMed shareholders have approved a $126 million take-private offer from Francisco Partners. Wells Fargo Foothill and Silicon Valley Bank had committed debt financing. http://www.abfjournal.com/story.asp?id=29433 Wed, 10 Mar 2010 11:54:20 -0500 The bankruptcy court has confirmed Freedom Communications' Plan of Reorganization. Upon emergence from Chapter 11, the company will receive a $25 million revolving credit facility from GE Capital, as agent, and secured lenders, led by JPMorgan Chase will own the company. http://www.abfjournal.com/story.asp?id=29434 Wed, 10 Mar 2010 11:54:41 -0500 Amalgamated Capital served as lead arranger and administrative agent for a $12.5 million senior secured credit facility to support growth and acquisitions in connection with the recapitalization of Bioreclamation by management and Lineage Capital. http://www.abfjournal.com/story.asp?id=29435 Wed, 10 Mar 2010 11:55:54 -0500 The M&A Advisor has recognized the bankruptcy reorganization and turnaround expertise of O'Keefe and Associates with multiple finalist honors in three separate categories of The M&A Advisor's 4th Annual Turnaround Awards. http://www.abfjournal.com/story.asp?id=29436 Wed, 10 Mar 2010 11:56:13 -0500 Charter Communications' subsidiary is seeking to amend its existing $8.177 billion senior secured credit facilities as well as extend $1 billion of its existing revolver. BofA Securities, Citigroup Global Markets, Credit Suisse Securities and others are serving as joint lead arrangers and joint bookrunners. http://www.abfjournal.com/story.asp?id=29424 Tue, 9 Mar 2010 12:36:25 -0500 Shelley C. Chapman, previously a partner in Willkie Farr & Gallagher's Business Reorganization and Restructuring Department, has been sworn in as a U.S. Bankruptcy Judge for the Southern District of New York. http://www.abfjournal.com/story.asp?id=29423 Tue, 9 Mar 2010 12:35:39 -0500 Sun Capital Partners' affiliate Protective Products Enterprises has acquired substantially all of the assets of Protective Products of America through a section 363 bankruptcy sale. http://www.abfjournal.com/story.asp?id=29421 Tue, 9 Mar 2010 12:34:35 -0500 Standard & Poor's is maintaining its negative outlook for the U.S. banking industry noting that the depth and length of the recession ended up exceeding the ratings agency's initial expectations. http://www.abfjournal.com/story.asp?id=29420 Tue, 9 Mar 2010 12:34:4 -0500 Corporate restructuring and insolvency firm MCR has appointed Thish De Zoysa as a director. Previously, he was with the business restructuring team at a UK accountancy firm. http://www.abfjournal.com/story.asp?id=29419 Tue, 9 Mar 2010 12:33:41 -0500 Limited Brands has concluded an amendment and extension of its existing amended and restated credit agreement dated as of February 19, 2009. JPMorgan Chase Bank acted as administrative agent and collateral agent, http://www.abfjournal.com/story.asp?id=29418 Tue, 9 Mar 2010 12:33:16 -0500 General Growth Properties has received a proposal from Fairholme Capital Management and Pershing Square Capital Management to commit $3.925 billion of new equity capital at a value of $15 per share to facilitate the company's emergence from bankruptcy. http://www.abfjournal.com/story.asp?id=29417 Tue, 9 Mar 2010 12:32:54 -0500 Dennis McCluskey has joined Integrated Private Debt as chief risk officer. Previously, he was the founding president & CEO of CIT Business Credit Canada. http://www.abfjournal.com/story.asp?id=29415 Tue, 9 Mar 2010 12:31:47 -0500 Transfac Capital hired David Costello as regional director of business development out of Nashville, TN. He joins from Comdata where he focused on factoring services to the transportation industry. http://www.abfjournal.com/story.asp?id=29414 Tue, 9 Mar 2010 12:31:1 -0500 Reuters reports that Extended Stay America could exit bankruptcy protection as soon as June, according to new reorganization plans filed last week. http://www.abfjournal.com/story.asp?id=29413 Tue, 9 Mar 2010 12:30:45 -0500 Westell Technologies has entered into an amendment to its credit facility agreement with the PrivateBank and Trust Company to extend the maturity date to March 31, 2011. http://www.abfjournal.com/story.asp?id=29412 Tue, 9 Mar 2010 12:30:17 -0500 NeuroMetrix entered into a one-year loan and security agreement with Comerica Bank, which permits the company to borrow up to $7.5 million on a revolving basis. http://www.abfjournal.com/story.asp?id=29411 Tue, 9 Mar 2010 12:29:59 -0500 Investor Carl Icahn announced on Monday, March 8 that Tropicana Entertainment emerged from Chapter 11 protection. http://www.abfjournal.com/story.asp?id=29416 Tue, 9 Mar 2010 0:0:0 -0500 NN, Inc. has amended its two credit facilities. The company amended its previously amended revolving credit facility with KeyBank as the administrative agent. It also amended the terms for its previously amended senior notes due in April 2014 with Prudential Capital. http://www.abfjournal.com/story.asp?id=29422 Tue, 9 Mar 2010 0:0:0 -0500 Lyondell has rejected at $14.5 billion bid from Reliance Industries and has filed a restructuring plan that it said was a better option. http://www.abfjournal.com/story.asp?id=29410 Mon, 8 Mar 2010 11:54:44 -0500 According to a Reuters' story, Six Flags may be in need of debtor-in-possession financing if its bankruptcy lasts longer than mid-April, the company said. http://www.abfjournal.com/story.asp?id=29408 Mon, 8 Mar 2010 11:53:48 -0500 Commercial Credit Group closed its fifth round of long-term capital provided by private equity firm Falfurrias Capital Partners along with current investor Archbrook Capital Management and other institutional investors. The transaction totaled approximately $20 million. http://www.abfjournal.com/story.asp?id=29406 Mon, 8 Mar 2010 11:52:52 -0500 Penton Media has received confirmation of its prepackaged plan of reorganization. Penton expects to emerge from Chapter 11 within the next few days with a healthier balance sheet. http://www.abfjournal.com/story.asp?id=29405 Mon, 8 Mar 2010 11:52:32 -0500