Wells Fargo provided an ABL facility and Pathlight Capital provided a FILO facility for a total of $1.5 billion in financing for JCPenney after the company sold its retail and operating assets to Simon Property Group and Brookfield Asset Management to exit Chapter 11.
Monroe Capital acted as sole lead arranger and administrative agent on the funding of a senior credit facility to support the growth of 3Cloud, a portfolio company of Gryphon Investors.
Clearbanc, an e-commerce investor and funding platform, and Silicon Valley Bank entered a new partnership to accelerate the growth of U.S.-based early-stage technology companies.
Wells Fargo delivered a $30 million asset-backed revolving credit facility for Lannett Company, a developer and manufacturer of pharmaceutical products.
Commercial Chapter 11 filings increased 46% in November 2020 compared with November of last year, according to data provided by Epiq.
Jim Franks joined Portage Point Partners as a managing director in Dallas. Previously, Franks served as senior managing director at FTI Consulting, principal at EY and partner at Accenture.
Crestmark secured more than $44.8 million in commercial financing for 60 businesses in the second half of November, including $1.8 million in asset-based lending financial solutions for five new clients.
The board of trustees of KKR Income Opportunities Fund appointed Eric Mogelof trustee, chair and president. Mogelof most recently served as head of PIMCO’s U.S. global wealth management business and will replace Suzanne Donohoe.
TAB Bank provided a Michigan-based transportation company with a $1 million asset-based credit facility and $1.1 million in equipment financing.