Paul Hastings announced that the firm represented HIG Capital and its credit affiliate Bayside Finance as a lender in connection with a $65 million term loan facility for specialty pharmaceutical company Acella Pharmaceuticals and its affiliates.
Economic activity in the manufacturing sector expanded in December for the 29th consecutive month, and the overall economy grew for the 31st consecutive month, said the nation’s supply executives in the latest Manufacturing ISM Report On Business.
Orchard Supply Hardware has entered into an amendment and restatement agreement of its senior secured term loan with JPMorgan Chase Bank as administrative and collateral agent. It also entered into an amended senior secured credit agreement with Wells Fargo Bank as ABL administrative and collateral agent.
Xplore Technologies, a manufacturer of rugged tablet PCs, has amended its accounts receivable purchase agreement with DSCH Capital Partners, (d/b/a Far West Capital), to increase the maximum amount of accounts receivable that Far West could purchase under the facility from $4.75 million to $8.5 million.
Tiger/Daley-Hodkin’s auction of the assets of the Kullman Building generated proceeds of 30% above the court-appraised value, according to Jeff Tanenbaum, president of Tiger’s Remarketing Services Division.
Jones Soda has entered into a secured credit facility with Access Business Finance, pursuant to which the company, through two of its wholly owned subsidiaries, may borrow a maximum aggregate amount of up to $2 million.
Norwest Equity Partners has made a significant investment in Actagro, a developer, manufacturer and marketer of organic liquid and specialty plant nutrients. Norwest Mezzanine Partners, GE Antares Capital and Madison Capital Funding participated in the financing for this transaction.
Main Street Capital has completed a new portfolio investment, consisting of $12.1 million in first lien secured debt and a $2.9 million direct equity investment, in NRP Jones, which supported the acquisition of the NRP group of companies by Main Street and a group of private investors.