ORG GC Midco Commences Chapter 11 Case

ORG GC Midco, the indirect owner of GC Services, commenced a fully consensual prepackaged case under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas. GC Services is not included in the proceedings and its operations will not be impacted.

November 9, 2021 GC Services | Gotshal & Manges | Mark Schordock | Midco | ORG GC Midco | Riveron RTS | Weil Rita Garwood

Wells Fargo Provides $175MM Senior Secured Credit Facility to Nicholas Financial

Nicholas Financial, a branch-based subprime automotive lender, entered into a senior secured credit facility with Wells Fargo Bank as agent. The facility provides for a line of credit of up to $175 million. 

November 9, 2021 Ares Agent Services | Doug Marohn | Nicholas Financial | Wells Fargo Bank Rita Garwood

J.P. Morgan Provides Global Credit Facility to Ecobat

Ecobat entered a new five-year upsized global funding facility led by J.P. Morgan. The facility was established by a syndicate of lending institutions, for which J.P. Morgan acted as administrative agent.

November 9, 2021 Ecobat | Jimmy R. Herring | Latham & Watkins | Tags: J.P. Morgan | White & Case Rita Garwood

ABL Deal Chart 2021 Q4

Notable ABL Transactions Data gathered from direct sources, news releases and other public information — covers 10/01/21 through 12/31/21. [table file=”http://abfjournal.com/wp-content/uploads/dealcharts/deals2021q4.csv” tablesorter=”1″ colalign=’left|left|right|left’] [/table]

October 4, 2021 Rita Garwood

ING Provides $225MM Star Mountain Capital Asset-Based Leverage Facility

Star Mountain Capital closed a $225 million asset-based leverage facility led by ING Capital. The lending group consists of ING, CIT, TIAA Bank, Axos Bank, East West Bank, Georgia Banking Company and Customers Bank.

July 23, 2021 Axos Bank | CIT | Customers Bank | East West Bank | Georgia Banking Company | ING Capital | Star Mountain Capital | TIAA Bank Rita Garwood

Citizens Business Conditions Index Reaches Highest Level in Three Years

The strength of the economic recovery pushed this past quarter’s national Citizens Business Conditions Index (CBCI) to 57, its highest reading in three years and up five points compared to last year. A reading above 50 is considered expansionary.

July 23, 2021 CBCI | Citizens Business Conditions Index | Tony Bedikian Rita Garwood

BofA Agents New $432.5MM MoneyGram International Credit Facility

MoneyGram International closed a new $400 million senior secured term loan and a new undrawn revolving facility of $32.5 million, both pursuant to a new credit agreement with Bank of America as administrative agent.

July 23, 2021 Bank of America | MoneyGram International Rita Garwood

SMBC Agents $150MM Emerald Energy Revolving Facility Advancing Renewable Energy Projects

Emerald Energy Venture, a joint venture of National Grid, secured a $150 million portfolio revolving facility with an accordion feature up to $250 million. SMBC was lead arranger, bookrunner, green loan coordinator and collateral and administrative agent for the facility.

July 23, 2021 Alexandra Lewis | Carl Adams | Emerald Energy Venture | National Grid | SMBC Rita Garwood

Fifth Third Joins Capital One to Provide $90MM Rimini Street Credit Facility

Fifth Third Bank joined as lender with Capital One as agent and lender, to provide Rimini Street with a $90 million five-year senior secured credit facility. Fifth Third provided $30 million and Capital One provided $60 million.

July 23, 2021 Capital One | Fifth Third Bank | Rimini Street Rita Garwood

Sprott Resource Lending Provides $185MM Marathon Gold Term Loan

Marathon Gold entered into an exclusive non-binding indicative term sheet with Sprott Resource Lending for a senior secured project financing facility of $185 million. Marathon Gold will use proceeds from the credit facility to fund the construction of the Valentine Gold Project.

July 23, 2021 Marathon Gold | Matt Manson | Sprott Resource Lending | Valentine Gold Project Rita Garwood