November/December 2018

November/December 2018
ABL Outlook
Vol. 16, No. 7

Community Banks: Darkhorse Competitors to Super-Regional and National Banks

A virus of acquisitions has enabled national and super-regional banks to bulk up over the last decade. Their smaller cousins — community banks — are often dismissed as warehouses for customer deposits and little more. Charlie Perer points out that when community banks acquire some some specialty lending platforms and pair them with deep hometown relationships, they can rival the big boys.

Where Are We in the Credit Cycle? Is It Time to Tap the Brakes?

The U.S. economy is booming and while commercial banks are still restrained by regulations, nonbank lenders are in high gear. Hugh Larratt-Smith takes an in-depth look at the current economic situation as 2019 looms ahead and says it may be time for lenders to slow down.

ABL Lenders Face Challenges, But Expect Strong Economy to Keep Them Afloat

Every year, ABL lenders face new challenges. Last year, people were nervous about the impact of prospective tax cuts. This year, the effect of tariffs has both borrowers and lenders shaking their heads. ABL lenders are facing increasing competition as 2019 prepares to roll in. Lisa Miller catches up with five top ABL executives who look back at 2018 and anticipate a strong year ahead.

September/October 2018

September/October 2018
Borrower’s Issue
Vol. 16, No. 6

Pitfalls and Benefits of Offering ABL Loans to Large Public Companies

Lending to large, public companies can burnish an ABL lender’s reputation and offer a unique opportunity to expand its business model. Lon M. Singer explains how to navigate through these complex and ultimately rewarding deals.

Factors Driving Success in Middle-Market Restructuring

What goes up must come down, and David Johnson points out that the current strong economy will eventually turn downward. Urging lenders to be prepared for the next downturn, he offers practical ways to assess a restructuring plan.

Out of Retirement, Into a New Challenge: Fagnani Leads New Bank Leumi ABL Division

With roots in Tel Aviv and branches the world over, Bank Leumi lacked only one thing — an ABL division. The bank corrected the situation this spring and hired Mark Fagnani, a veteran of many outstanding ABL institutions, to lead it. Fagnani shares his vision for Leumi and his mantra for success with ABF Journal editor Nadine Bonner.

Benefits of Fund-Level Debt in Acquisition Finance

Fund financing is one of the fastest growing areas of the leveraged loan market. Frederick C. Fisher, Zachary K. Barnett, Christopher M. Chubb and Anastasia N. Kaup explain the advantages of using fund level debt financing over traditional financing when acquiring portfolio companies.

The Cryptocurrency Conundrum — A Primer for Secured Lenders Entering the Cryptocurrency Space

Like personal computers, smartphones and the internet, cryptocurrencies are here to stay. For the secured lender, the blockchain technology that protects the privacy of the borrower can present an obstacle to securing collateral and receiving repayment. Alan Rosenberg provides a detailed explanation of the technology and a guide for lenders to protect themselves in cybercurrency transactions.