Medium to large-cap businesses in the UK could be missing out on asset-based lending, a form of flexible financing popular in the United States that is comparatively neglected in the UK due to popular misconceptions.
Every asset-based lender brings a different set of criteria to the table when examining a potential deal. In a panel at the 13th Annual Philadelphia Credit & Restructuring Summit, four different financing providers outlined their own unique perspectives on deal evaluation.
In the current market, where sentiment can change on a dime due to everything from supply chain constraints to geopolitical upheaval, it’s essential to expect the unexpected, but that doesn’t mean we can actually see the twists coming.
Scout Clean Energy, a Colorado-based renewable energy developer, owner and operator, closed a $250 million revolving corporate credit facility. KeyBanc Capital Markets is acting as mandated lead arranger for the facility.
DailyPay, a technology platform, secured a $300 million revolving credit facility from Barclays. The revolving credit facility will provide DailyPay access to capital to service its roster of partners, including many employers in the United States.
Select Energy Services transitioned its existing asset-backed loan facility into a sustainability-linked loan facility, while extending the facility through March of 2027. Wells Fargo Bank was the lead arranger for the facility.
White Oak Healthcare Finance acted as sole lender and administrative agent for a $395 million senior credit facility for Genesis Healthcare.
SLR Credit Solutions promoted Jimmy Andreoli to assistant vice president, Matthew Dunn to vice president and Michael Russell to managing director.
Oaktree Capital Management closed two separate transactions totaling $100 million in gross funding for Impel NeuroPharma, a commercial-stage pharmaceutical company. The transactions include $50 million of senior secured debt.
Cross River Bank’s strategic direct lending team provided a $50 million credit facility to Cherry Technologies, a company that enables medical practices to offer flexible payment plans to their patients.