News

A Capital One survey conducted at the ABS East 2018 Conference found that 94% of respondents expect buy-side interest in asset-backed securities to increase or remain the same in the coming year.

Direct lender Abacus Finance served as administrative agent and sole lender in support of American Refrigeration Company’s strategic investment in Refrigeration Engineering & Contracting.

Transformation expert Jim Takach joined consultanting firm AlixPartners, as a managing director in its Technology, Media & Telecommunications practice. He will be based in the Los Angeles office.

KeyBank and PNC provided financing to Greenbacker Renewable Energy to support the completion of the company’s 20MWac Midway III solar PV project.

Monroe Capital acted as sole lead arranger and administrative agent on the funding of a senior credit facility to support Mammoth Holdings’ acquisitions of Marc-1 Car Wash and Wash Me Fast.

Denbury Resources agreed to acquire Penn Virgina in a deal valued by $1.7 billion. JPMorgan will provide a new $1.2 billion senior secured credit facility to support the acquisition.

Republic Business Credit provided a $3 million factoring facility alongside a $400,000 inventory facility to U.S.-based men’s apparel manufacturer.

Gastar Exploration entered into a restructuring support agreement with its largest funded-debt creditors. Ares Management agreed to provide $100 million in committed financing to support the restructuring process.

TOKIN, a Japanese subsidiary of KEMET, entered into a new ¥33 billion (approximately $296 million) term loan with Sumitomo Mitsui Trust Bank as sole lead arranger. KEMET also concurrently amended its revolver with Bank of America.

Financing Solutions reached its 1,000th customer for its nonprofit line of credit program. The new program represents a whole new way of doing business for the nonprofit world.