Asset-based lenders had a week that rewarded borrowers with clean collateral and punished those without it. Wells Fargo doubled Five Below’s ABL revolver to $450 million and pushed maturity to October 2031,1 while the same bank extended Shoe Station Group’s $100 million revolver to 2031 at Adjusted Term SOFR plus 100–200 basis...
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In an era defined by rapid recalibration, this issue dives deep into the 2026 middle market, examining how asset-based lending has evolved into a foundational liquidity engine as private credit navigates a $1.2 trillion maturity wall and shifting deal structures. At the heart of this edition, we celebrate our 2026 Legends & Leaders honorees — the Icons whose storied careers have defined the industry, the disciplined Sentinels and the deal-making Rainmakers, as well as the visionary Innovators and NextGen stars engineering what comes next. Through expert features on market pressures and exclusive roundtable discussions on the intersection of technology and relationship-based lending, we highlight the conviction and resilience of the professionals shaping the next chapter of global capital.
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