News

BMO Financial Group announced BMO EMpower, a series of long-term commitments to advance inclusive economic recovery in the United States, pledging $5 billion over the next five years to address key barriers faced by minority businesses, communities and families.

The Secured Finance Network’s 76th Annual Convention, “This Way Forward,” will take place from Nov. 17 to 19 and will cover financial, economic and political disruptions that banks and finance companies face in the midst of a pandemic and the...

Northpoint Commercial Finance, a North American diversified financial services company, added asset-based lending as a financial solution for U.S.-based middle-market companies.

A U.S. Bankruptcy Court approved JCPenney’s asset purchase agreement with Brookfield Asset Management, Simon Property Group and the company’s DIP and first lien lenders.

Total U.S. bankruptcy filings in October decreased 41% from last year, according to data provided by Epiq Systems. Commercial Chapter 11 filings increased slightly, with the 550 filings in October 2020 up 4% over the 530 recorded in October 2019.

Commercial finance and invoice factoring company Prestige Capital Finance delivered a $5 million factoring facility to a Southeast-based company that focuses on the manufacturing and assembly of corrugated retail displays.

U.S.-based investment management company M360 Advisors closed a private placement of $100 million aggregate principal amount of 6.75% senior unsecured notes due 2023. Piper Sandler acted as placement agent for this offering.

Greenhill & Co is acting as financial advisor and AlixPartners is serving as restructuring advisor to NPC in a stalking horse asset purchase agreement with Flynn Restaurant Group.

eCapital, a North American alternative finance provider, funded two factoring facilities totaling $3.9 million, including a $3 million factoring facility to a distributor of consumer electronics products and a $900,000 factoring facility to a veteran-owned temporary staffing agency.

Following an auction as part of Lilis Energy’s Chapter 11 process, oil and natural gas company Ameredev Texas will acquire substantially all of Lilis Energy’s assets for a $46.6 million cash payment at closing. Opportune is serving as restructuring advisor...