News

KeyBank and Beach Point Capital Management, a credit focused investment manager, established a new joint venture middle-market direct lending program with $1.5 billion in lending capacity for U.S. middle-market clients.

Cypress Environmental Partners filed for Chapter 11 bankruptcy protection and reached a restructuring support agreement with its priority senior secured lender, an affiliate of Argonaut Private Equity, that is expected to clear approximately $58 million worth of debt.

FIS developed a new embedded finance offering in partnership with Treasury Prime to help financial institutions meet the growing need for digitally-native banking experiences.

Monroe Capital closed its Monroe Capital Opportunistic Private Credit Fund I with approximately $500 million of investable capital, including targeted fund leverage.

Small business loan approval percentages at big banks (more than $10 million in assets) rose from 14.9% in March to 15.1% in April, and approval at small banks (under $10 billion in assets) also increased, rising from 20.6% in March...

U.S. Bank entered into a collaboration agreement with trade finance fintech LiquidX to help expedite and simplify supply chain transactions between suppliers and buyers.

Deerpath Capital Management closed Deerpath CLO 2022-1, a $375 million collateralized loan obligation (CLO). Deerpath CLO 2022-1 represents the fifth CLO issued by Deerpath since 2018 and brings the firm's total CLO assets under management to approximately $1.8 billion.

BNP Paribas closed an amendment to add sustainability-linked incentives to its letter of credit facility with renewable power producer Northland Power. 

36th Street Capital served as lessor of record and servicer for $40 million in equipment financing of manufacturing equipment dedicated to the production of electric vehicle components. 36th Street funded $14 million of the total financing package.

Armstrong Flooring, a designer and manufacturer of flooring solutions, filed for voluntary protection under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware.