Downturn Plus Four Years — State of the Capital Markets

Contributing editor Howard Brod Brownstein talks to five leading ABL capital markets players about market conditions now that the official end of the downturn is four years behind us. All agree that market conditions are extremely competitive — comparable to before the financial downturn — and that this trend will continue for the foreseeable future.

What’s in Store for 2014? Challenges and Opportunities of the Year Ahead

Longtime ABF Journal contributor Lisa Miller talks to five industry heavyweights about what’s ahead for asset-based lending in 2014. The lenders discuss interest rates; how increased bank liquidity has brought new players, higher hold limits and fiercer competition; Dodd-Frank and more.

2013 ABL Volume Weighed Down by Refinancings

At just over $57 billion, Q1/13-Q3/13 ABL volume is comparable to the same period last year. However, less than 21% of ABL lending this year represents new loan assets. In a trend consistent with that of the broader leveraged loan market, lending during both years was heavily weighted toward refinancings, as issuers push out maturities and reduce spreads on existing credits.

November/December 2013

Nov/Dec 2013
Capital Markets
Vol. 11, No. 8

October 2013

OCT 2013
Turnaround Management
Vol. 11, No. 7

FinalCut: GE Capital Breaks New Ground in Japanese ABL Market

ABF Journal illustrator Jerry Gonzalez provides his take on GE Capital’s agreement to provide a $20 million revolver to Imation in Japan, where asset-based lending is a relatively new form of corporate funding.

‘Good Faith’ in Commercial Transactions — Toward a Uniform Standard

Varying definitions under different UCC Articles can conceivably cause a party to be governed by a different “good faith” standard in the same relationship. As Paul Shur explains, an awareness of these issues and the benefits of a uniform standard should be goals of practitioners and legislators.

New Chapter 11 Fee Guidelines… Will They Really Help to Contain Attorney’s Fees?

Recently the Office of the U.S. Trustee issued new guidelines for the payment of attorneys’ fees and expenses in Chapter 11 cases with $50 million or more in assets and $50 million or more in liabilities. According to K&L Gates’ Trey Monsour, compliance will be subjective and likely expensive for attorneys in large Chapter 11 cases, with the debtor ultimately bearing the additional costs.

Finding Opportunity in ‘Sub-Servicing’— Gateway Commercial Finance Launches Sentinel Portfolio Solutions

As many companies turn to outsourcing in order to improve processes and reduce expenses, Gateway Commercial Finance expanded its sub-servicing reach by launching Sentinel Portfolio Solutions.

A Unique Vision… Not Thinking Small By Any Means

In an exclusive interview with ABF Journal, Ken Yager talks about why he launched Newpoint Advisors Corporation to help companies in the small to lower mid-market by employing a unique business model dedicated to delivering responsive, personal and cost-effective services to businesses experiencing financial distress.