Neiman Marcus emerged from voluntary Chapter 11 protection. The company’s new owners, including PIMCO, Davidson Kempner Capital Management and Sixth Street, are funding a $750 million exit financing package.
Brown Gibbons Lang & Company established a debt capital markets group with the addition of Jason Sutherland, Olivier Lopez and Collin Supple. Sutherland and Lopez joined as managing directors and Supple joined as a vice president.
The quest for coast-to-coast asset-based lending shops has created an intensely competitive “frontier” in the lending environment. Charlie Perer examines this trend and concludes that hiring the right business development officer must be a top priority to succeed.
GSO Capital Partners committed $250 million in capital to Blackstone’s new portfolio company, ClearGen, which will finance and own distributed and sustainable energy infrastructure assets focused on commercial, industrial and institutional customers.
Cadence Bank rebranded AloStar Capital Finance, a division of the bank that provides asset-based lending and specialty finance solutions, to Cadence Business Finance. In addition, Norbert Schmidt was appointed executive vice president and director of capital finance.
Enservco signed a non-binding letter of intent with East West Bank to amend its existing senior revolving credit facility to reduce bank debt by $16 million, amend the current facility into a term loan and provide a new working capital revolving line of credit in exchange for equity.
Advantage Capital completed a small business loan for All-In Recruiting, which is a minority- and woman-owned boutique staffing and recruitment agency specializing in placing top talent and diverse professionals in mid- to senior-level positions for large tech companies.
Churchill Asset Management, an investment-specialist affiliate of Nuveen, hired Christopher Freeze as senior managing director and head of investor relations. Freeze spent more than nine years at the Carlyle group previously.
Crestmark secured more than $27.3 million in commercial financing transactions in the first half of September, including a total of $6.973 million in ABL financial solutions for four new clients.
For middle-market and small businesses, the COVID-19 pandemic is highlighting the vital importance of investing in new technology, facilitating remote work and maintaining tech-savvy workforces, according to a new survey conducted by The Harris Poll for CIT.