News

The NORDAM Group and its domestic subsidiaries filed a voluntary petition for protection under Chapter 11. JPMorgan Chase will provide DIP financing to support the restructuring.

MidCap Financial provided a $40 million senior credit facility to Camaco, a supplier of seating structures and related components for the automotive industry.

Bloomberg reported Blackstone’s GSO Capital Partners unit rebuilt its business, making nonbank loans to small and mid-size companies, after dissolving its partnership with FS Investment seven months ago.

CIT Group reported income from continuing operations for Q2/18 was $138 million, up from $41 million a year earlier. CIT noted factoring volume was up 16% driven primarily by increased volume in the technology industry.

National Access Cannabis entered into a loan agreement and connected collateral documents with Opaskwayak Cree Nation for a secured loan of up to $35 million.

Monroe Capital co-sponsored and entered into a forward purchase contract with Thunder Bridge Acquisition, a special purpose acquisition company.

Katten Muchin Rosenman expanded its Commercial Finance practice with the addition of Shana E. Ramirez as a partner in the firm's Los Angeles – Century City office.

Bone Biologics, a developer of orthobiologic products for domestic and international spine fusion markets, completed $5.9 million in funding: $3.9 million in equity and a $2 million credit facility.

Ares Management closed its fourth European direct lending fund, Ares Capital Europe IV. Within six months of its launch, ACE IV was significantly oversubscribed, closing at a hard cap of €6.5 billion ($7.609 billion) in total commitments.

FS Investment and Corporate Capital Trust entered into an agreement under which FSIC, a partnership between FS Investments and KKR Credit Advisors, and CCT will merge, creating the second largest publicly traded BDC.