News

A new survey from Grant Thornton, an audit, assurance, tax and advisory services firm, revealed that chief financial officers (CFOs) are optimistic about the U.S. economy. In fact, at 58%, this is the highest level of optimism since Q3/21.

Global law firm Clifford Chance advised LiveOak Fiber, an InfraRed Capital Partners portfolio company, in obtaining a $250 million capital expenditure facility to finance the expansion of fiber network in underserved communities in the southeast of the United States.

Sallyport Commercial Finance funded a $2 million invoice factoring facility for a distribution and storage company based in Western Canada. The company used the newly secured funds to facilitate the purchase of a new building.

KBRA UK assigned preliminary ratings to seven classes of notes issued by RRE 20 Loan Management DAC, a cash flow collateralized loan obligation (CLO) backed primarily by a diversified portfolio of Euro-denominated corporate loans.

A Spherical Insights report forecasts that the global online banking market size will grow from $12.87 billion in 2023 to $44.89 billion by 2033 at a compound annual growth rate (CAGR) of 13.31% during the projected period.

Modivcare refinanced all outstanding $500 million aggregate principal amount of its 5.875% senior notes due 2025 with a new $525 million term loan B, which closed on July 1, 2024. The refinancing was led by JPMorgan Chase Bank.

Sallyport Commercial Finance is celebrating its 10-year anniversary, according to a LinkedIn post from the company’s profile.

The 987 total commercial chapter 11 bankruptcies filed during the first six months of 2024 represented a 70% increase over the 582 filed during the same period in 2023, according to Epiq AACER, a provider of U.S. bankruptcy filing data.

Marathon Asset Management, a global credit manager, and Webster Financial, the holding company for Webster Bank, are forming a private credit joint venture, which will deliver direct lending solutions to sponsor-backed middle market companies.

B. Riley Securities advised on the sale of The Santa Barbara Smokehouse (SBS), a producer of smoked salmon, to HKW’s portfolio company, PANOS Brands, (PANOS), a provider of branded consumer foods. Financial terms of the transaction were not disclosed.