News

ClauseGrade, a new independent testing firm built by credit practitioners, tests AI tools against a fixed set of synthetic lending tasks whose answer keys are computed in code. The suite has 40 tasks covering maintenance covenants, EBITDA add-back caps, borrowing...

Tower Partners, a private investment bank and advisory firm serving the middle market, announced that Lloyd Bramble has joined the firm as vice president, Government Services. In the role, Bramble will provide operational insights and advise government services, technology, aerospace...

Cardo AI, a technology platform for asset-based finance (ABF) and private credit, introduced unified data standards for 30 asset classes, from consumer loans to aircraft to music royalties. The library covers 11 consumer and 19 corporate exposures, representing approximately $5.8T...

Fitch Ratings’ U.S. Private Credit Default Rate (PCDR) reached 6.3% for the trailing 12 months (TTM) ended Q3/26, the highest quarterly default rate on record, up from 6.0% in Q2/26 and flat from August. The PCDR has risen every quarter...

BMO Financial Group closed the previously announced sale of its transportation finance and vendor finance businesses to Stonepeak. At closing, BMO transferred approximately 75% (C$11 billion) of the estimated C$14.5 billion total combined loan and lease portfolio to Stonepeak, with...

Slide Insurance Holdings entered into a new credit agreement with a syndicate of financial institutions led by Huntington National Bank. The agreement provides a total credit facility of $1.07 billion and replaces Slide's existing credit agreement of $530.4 million. Under...

Legacy Corporate Lending, an independent asset-based lending (ABL) company focused on serving the needs of middle market companies across North America, appointed Dathan Williams as senior vice president, portfolio and underwriting. In his role, Williams will be primarily responsible for...

Aspire Fiber, a fiber-optic internet provider serving Southern California, closed an $80 million senior secured credit facility. The facility, led by Third Coast Bank and CIBC, will support the continued expansion of Aspire’s 10 Gigabit-capable fiber network across Southern California...

Arrabon Capital, a structured credit firm, has launched institutional financing for U.S. specialty lenders. The firm structures senior secured facilities, including warehouse lines, receivables financing, forward-flow arrangements, portfolio purchases and private securitizations, and places them with specialty credit funds, family...

TCW Steel City aerved as administrative agent, joint lead arranger and joint bookrunner on a $115 million acquisition financing supporting Bernhard Capital Partners’ acquisition of Revenew International. The financing consists of an $80 million term loan, a $15 million revolving...