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

Funds Managed by Deerfield Management Provide $60MM Intersect ENT Term Loan

Intersect ENT, a global ear, nose and throat medical technology company, entered into a $60 million secured term loan agreement with a fund managed by Deerfield Management Company.

July 23, 2021 Deerfield Management Company | Intersect ENT | Thomas A. West Rita Garwood

Kreos Capital Provides $12MM Motus GI Term Loan to Support Growth Strategy

Motus GI Holdings refinanced its debt and expanded its long-term credit facility with a new loan agreement with Kreos Capital for up to $12 million. The new facility replaces Motus GI Holdings’ previous term loan agreement with Silicon Valley Bank and removes an existing $10 million minimum cash balance liquidity covenant.

July 23, 2021 Chris Church | Kreos Capital | Kreos Capital VI LP | Motus GI Holdings | Tim Moran Rita Garwood

CarVal Investors Launches Clean CLO Product Line

CarVal Investors will expand its CLO platform by creating and managing CLOs that will focus on public and private companies with favorable ESG risk scores.

July 23, 2021 CarVal Clean CLO platform | CarVal Investors Rita Garwood

Sterling National Bank Provides Recourse Factoring Facility to CTL Medical

Sterling National Bank’s commercial services group provided a recourse factoring facility to CTL Medical. The credit facilities will be used to pay off current debt and provide working capital.

July 23, 2021 CTL Medical | Sterling National Bank Rita Garwood