News

Accord Financial closed a $13 million credit facility to support the acquisition of an equipment services company.

Obra Capital, a portfolio company of RedBird Capital Partners and Reverence Capital Partners, completed a super priority secured debtor-in-possession credit and security agreement for GWG Holdings, a financial services firm based in Dallas.

Core Scientific, a blockchain computing data center provider, will enter into a restructuring support agreement with an ad hoc noteholder group, which agreed to provide commitments for a debtor-in-possession facility of up to $56 million.

The third quarter saw continued confidence in the asset-based lending market, according to data released by the Secured Finance Network, and that was welcome news as the country wrestles with inflation, rising interest rates and a slowed economy.

Wells Fargo launched an emerging middle-market (EMM) segment within its Metro New York commercial banking team. The new segment will be led by Alicia Iskhakova in New York City and John DeSclafani in New Jersey.

Nearly 70% of lenders are concerned about anticipated small business lending data collection regulations and the ability to manage those requirements, according to Wolters Kluwer, which reported concerns about new regulations have “jumped considerably” in 2022.

AustralianSuper, Australia's largest superannuation (pension) fund, entered into a partnership with Churchill Asset Management, with an initial instalment of $250 million, intended to grow substantially over time.

Nearly 70% of lenders are concerned about anticipated small business lending data collection regulations and the ability to manage those requirements, according to Wolters Kluwer, which reported concerns about new regulations have “jumped considerably” in 2022.

The Federal Reserve announced that it will raise the target range for the federal funds rate to between 4.25% and 4.5% on Wednesday, marking a 0.5% increase and the seventh overall increase this year.

Vida Capital, a portfolio company of RedBird Capital Partners and Reverence Capital Partners, announced a corporate rebranding, which includes the changing of its name to Obra Capital, as part of the company’s ongoing business evolution.