Fitch: Energy Default Rate Likely to Rise in 2015
The energy sector default rate is expected to rise above its long-term average of 1.9% in 2015, according to Fitch Ratings.
The energy sector default rate is expected to rise above its long-term average of 1.9% in 2015, according to Fitch Ratings.
A new study makes recommendations for improved transparency and simplification in securities financing, including management of collateral and reforming the securitization market.
Deloitte Corporate Finance advised Ultra Machine & Fabrication in its sale to Universal Manufacturing. The transaction closed on March 2, 2015.
Andy Moser, the co-founder and CEO of Salus Capital, reportedly left the firm following losses from its $250 million loan to RadioShack, according to four people familiar with the situation.
White Oak Global Advisors said it recently provided $182.7 million in financing support on six transactions.
Lannett Company amended and increased its revolver to $120 million from $50 million. Citibank acted as administrative agent for the lender group.
Canacol Energy announced it has entered into a credit agreement for a $200 million senior secured term loan with a syndicate of banks led by BNP Paribas as sole lead arranger and sole bookrunner, and including Davivienda, Citibank, Bladex, ICBC, BICSA and Banco de Occidente.
Black Knight InfoServ intends to raise a new $1.6 billion senior secured credit facility encompassing a $400 million revolver and two senior secured terms loans.
W&T Offshore said it has amended its existing revolver and modified certain covenants to enhance the company’s financial flexibility. TD Bank was said to be the administrative agent for the lender group.
Hygea Holdings tripled its existing revolving line of credit with Fifth Third Bank, from $5 to $15 million.