News

According to the American Bankruptcy Institute, commercial chapter 11 filings totaled 308 in September, a 31% decrease from the 445 filings in the same month one year ago

Bank Leumi USA has hired Andrew Sherman as its general counsel. Sherman will manage the Legal department, partnering with business teams to help advance the bank's strategic vision. _x000D_ _x000D_

Amerisource Business Capital completed a $1 million credit facility for a creative design agency based in California. Proceeds of the facility were used for growth capital.

Reuters reported that bankruptcy court filings reveal Toys "R" Us’s leading lenders have decided to cancel the company’s brand name and intellectual property auction and plan to revive the brand.

Phoenix Tower International, a wireless communications infrastructure provider, closed a $485 million senior secured term loan facility to continue its international expansion.

White Oak Healthcare Finance acted as sole lender and administrative agent on the funding of a $28 million senior credit facility for Granite Investment Group.

Tarnetta V. Jones joined Otterourg as of counsel in both the Banking & Finance and the Corporate departments. _x000D_ _x000D_ _x000D_ _x000D_

Varagon Capital Partners served as administrative agent, collateral agent, lead arranger and bookrunner on a senior secured credit facility to support the acquisition of Taymax Group Holdings, a Planet Fitness franchisee, by Trilantic North America. _x000D_ _x000D_

Ares Capital completed all necessary amendments to its $2.1 billion revolving credit facility led by Bank of America, J.P. Morgan and SunTrust Robinson Humphrey. It also amended its $1 billion revolver led by Wells Fargo.

Utica Leaseco completed two transactions totaling $2.7 million during the second half of September 2018.