Best Practices for Private Credit Risk Management in a Challenging Economic Environment

As credit risks increase, dry powder accumulates and the demand for transparency rises, it is crucial for private credit firms to adapt their due diligence processes and portfolio monitoring methods to stay competitive and optimize performance.

May 23, 2023 Abhik Pal | CRISIL | private credit Phil Neuffer

Adaptability Needed More Than Ever in Special Assets Groups

Between an impending recession and runs on several regional banks, a greater need for workout professionals is taking hold in the banking sector, which will cause many institutions to adapt how they staff their special assets groups.

May 23, 2023 Charlie Perer | SG Credit Partners Phil Neuffer

Pathlight Capital Delivers $30MM FILO Facility to Vericast

Pathlight Capital is serving as administrative agent on a recently funded $30 million first in, last out term facility for Vericast, an advertising services company, which will use proceeds from the facility to provide additional liquidity for ongoing working capital needs.

March 31, 2023 John O’Malley | Pathlight Capital | Tyler Harrington | Vericast Phil Neuffer

PNC and Angelo Gordon Lead Refinancing Transactions for Glatfelter

Glatfelter Corporation, a supplier of engineered materials, completed several refinancing transactions, including amending its syndicated revolver led by PNC and closing on a $271.88 million term loan from Angelo Gordon.

March 30, 2023 Angelo Gordon | Glatfelter Corporation | Lazard | PNC Bank | Proskauer Rose | Thomas Fahnemann Phil Neuffer

Citi Provides $35MM Credit Facility to Social Mobile

Social Mobile, a provider of enterprise mobility solutions, secured a $35 million senior credit facility from Citi.

March 30, 2023 Benjamin Yogel | Citi | Social Mobile Phil Neuffer

Wells Fargo Amends and Extends Canes Midstream’s Credit Facility

Canes Midstream, a Dallas-based midstream company, entered into an amendment to its credit facility, increasing its size to $415 million and extending its maturity by one year to February 2027. Wells Fargo acted as administrative agent on the transaction.

March 30, 2023 Canes Midstream | Dan Westcott | wells fargo Phil Neuffer

Regions Bank Launches International Subsidiaries Banking Group, Barros to Lead

Regions Bank launched an international subsidiaries banking group to deliver financial insights and banking services to subsidiaries of international corporations operating in the United States. Laerte Barros, who joined Regions Bank in 2022 from BBVA, will lead the new team.

March 30, 2023 Christian Louis | Laerte Barros | Marcus Kim | Regions Bank | Ronnie Smith Phil Neuffer

TradeCap Partners Provides $1.5MM PO Facility to Beauty Products Company

TradeCap Partners closed a $1.5 million purchase order finance facility for a West Coast-based beauty products company. The facility will support fulfillment of large retail orders for multiple SKUs.

March 30, 2023 Clinton Stanton | TradeCap Partners Phil Neuffer

Wells Fargo Increases City Electrical Factors’ ABL to $370.06MM

Wells Fargo Capital Finance UK increased City Electrical Factors’ asset-based loan to £300 million ($370.06 million), of which Wells Fargo holds £200 million ($246.71 million) as agent.

March 30, 2023 Chris Ashworth | City Electrical Factors | Iana Corniciuc | Wells Fargo Capital Finance UK Phil Neuffer

Essex Capital Group Arranges $19.4MM Debt Facility to Support Hotel Acquisition

Essex Capital Group arranged a $19.4 million debt facility to fund the acquisition and renovation of an existing Hilton Garden Inn hotel located in central Florida.

March 30, 2023 Essex Capital Group | Hilton Garden Inn | Rob Swain Phil Neuffer