The Federal Reserve announced on Thursday stated that it will maintain the target range for the federal funds rate between 5.25% and 5.5%. The Fed made a similar decision in September, pausing its run of hikes aimed at curbing rising inflation that began in March 2022.
USD Partners entered into an agreement with the lenders and administrative agent under its existing credit agreement to extend the forbearance period from its expiration date of Nov. 3 to Nov. 17. According to an 8K filed with the SEC, BMO is the administrative agent for the credit agreement.
Heritage Global Valuations appointed Gina Griffin senior vice president. With a career spanning more than two decades, Griffin has experience in the appraisal and liquidation industry, particularly in retail, consumer products and e-commerce.
Matrix Capital Markets Group advised Springer Eubank Company and its affiliates on the sale of the company’s assets, including its travel center and convenience and gas division and its delivered fuels and fuel transport divisions, to an affiliate of Petroleum Marketing Group.
LSQ originated a $1.5 million credit facility for a manufacturer of custom glass and insulated glass units. The company needed the liquidity boost to continue its growth.
CIBC Innovation Banking upsized its growth capital financing facility with Jirav, which will use the financing to further accelerate product development and broaden its customer base.
Moritt Hock & Hamroff added B. George Walker as counsel and Amber J. Mannings and Jessica Huang as associates in the firm’s litigation and dispute resolution practice groups, while Brady M. Foster joined the firm’s secured lending practice group as an associate.
BNP Paribas selected Riskfactor, a risk management software solution from Lenvi, a provider of commercial lending software for the factoring and receivables finance market, to support its European risk management and operations functions.
BOK Financial reaffirmed the borrowing base of the revolving line of credit of BNK Petroleum US, an indirect, wholly-owned subsidiary of Kolibri Global Energy, at $40 million. The current outstanding amount drawn on the credit facility is $29 million.
Cyxtera, a data center colocation, interconnection services and digital infrastructure company, entered into an asset purchase agreement under which Brookfield Infrastructure Partners and its institutional partners will acquire substantially all of Cyxtera’s assets for $775 million.