News

Fitch Ratings affirmed the long-term issuer default rating, senior secured debt rating and senior unsecured debt rating of Oaktree Specialty Lending at 'BBB-'. The rating outlook was revised to stable from negative.

FTI Consulting is serving as financial advisor and PJT Partners is serving as investment banker to LATAM Airlines, which initiated a voluntary reorganization and restructuring of the company’s debt under Chapter 11 protection in the United States.

Crestmark secured a total of $7.8 million in asset-based lending financial solutions for 10 new clients in the first half of May, including a $2.5 million accounts receivable purchase facility for a manufacturing materials distributor in Colorado.

Opportune is serving as restructuring advisor and Evercore Group is serving as investment banker to Unit Corporation, which filed voluntary petitions under Chapter 11 of the United States Bankruptcy Code.

The U.S. Bankruptcy Court for the District of Delaware approved the first day motions of Exide Technologies, including interim approval of $40 million of debtor-in-possession financing.

AlixPartners is serving as restructuring advisor, PJT Partners is serving as financial advisor and Kirkland & Ellis is serving as legal advisor to Akorn, which filed for voluntary protection under Chapter 11 of the U.S. Bankruptcy Code.

Finacity closed a trade receivables securitization program for Startek. The funds from the securitization facility were used to refinance an existing asset-based loan facility.

Sallyport Commercial Finance approved a $1.75 million accounts receivable facility to a group of staffing companies that provide recruiting services to Canada and the U.S.

According to data from Datasite and Debtwire, 71% of U.S. dealmakers, 70% of deal markers in Europe, the Middle East and Africa, and 61% of dealmakers in the Asia Pacific region expect to see more restructuring activity in the next...

LBC Small Cap, an affiliate of LBC Credit Partners, recently provided financing to support the growth of two U.S.-based lower middle market companies. In addition, the company added Chris Weidner to the investment team as a senior associate.