Crestmark said it has expanded its services to include equipment financing.
Celtic Bank closed a $5 million SBA working capital CAPLine for a metals manufacturer and wholesaler located in Philadelphia, PA. The working capital line provides for advances on eligible accounts receivable up to 80%.
Thomson Reuters reported, according to the results of a survey, investors in distressed company debt expect U.S. corporate defaults to remain low this year, but are split over whether there will be a pickup in bankruptcy filings by large companies.
The Milwaukee Journal Sentinel reported that in a federal lawsuit, U.S. Bank is asking a judge to declare that the bank – not the government – is entitled to more than $5 million from the sale of assets of an insolvent borrower.
iStar Financial said it is launching a refinancing of its $1.82 billion senior secured credit facility. iStar said J.P. Morgan, Barclays and BofA Merrill Lynch are serving as joint lead arrangers and bookrunners.
TheWrap.com reported that MGM is looking to increase its current line of credit to $650 million. The article said that JPMorgan is the lead bank on the deal along with Bank of America and Royal Bank of Canada.
United Capital Funding announced that it provided more than $430 million of working capital to entrepreneurial businesses in the United States for the year ended December 31, 2012.
While the rest of the city prepares for the Super Bowl, New Orleans-based Republic Business Credit is celebrating its second anniversary. With over $20 million of new client facilities closed in the final quarter of 2012, Republic is also marking its strongest quarterly performance to date.
Hostess Brands announced that the company has selected affiliates of Apollo Global Management and Metropoulos as the stalking horse bidder for the majority of the assets of the company’s snack cake business, including the iconic Twinkies brand.
Monroe Capital announced that Theodore L. Koenig, president and CEO, was named the 2012 Middle Market Thought Leader of the Year by the Alliance of Mergers & Acquisition Advisors and Grant Thornton.