News

Allied Affiliated Funding provided $1.5 million in receivables financing to a New Jersey-based pet wash manufacturing company and $300,000 in debtor-in-possession receivables financing to a Texas-based manufacturer.

All Js Greenspace agreed to provide up to $7.2 million in debtor-in-possession financing to Green Growth Brands, which filed for insolvency protection under Canada’s Companies’ Creditors Arrangement Act.

The COVID-19 pandemic has created pessimism in the U.S. economy’s near-term performance, according to a survey from Phoenix Management. The survey revealed 100% of lenders expect an increase in bankruptcies and loan losses.

Ankura is serving as financial advisor, Houlihan Lokey is serving as investment banker and Weil, Gotshal & Manges is serving as legal counsel to Exide Technologies, which filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code.

Prestige Capital Funding closed a $2.5 million factoring arrangement for a Florida–based designer and distributor of vascular tubing, catheters and pediatric intravenous kits for sale to institutional medical concerns.

EQ U.S. launched a new cloud-hosted SaaS model of its existing EQ Riskfactor product for the U.S. market. The platform uses automation to identify potential frauds and highlight unusual activity using advanced analytics so that lenders can investigate and reduce...

Pier 1 Imports is seeking bankruptcy court approval for a wind-down of its retail operations. The company’s DIP lenders, including Bank of America and Pathlight Capital, agreed to allow Pier 1 to overdraw the DIP facility by approximately $40 million...

Kroll Bond Rating Agency released its U.S. Bank Ratings Compendium, which provides the latest view of the U.S banking sector during the COVID-19 pandemic and analyzes Q1/20 results of U.S. banks with KBRA long-term ratings.

A “fourth” exit strategy of a structured dismissal in Chapter 11 continues to grow as a popular option for companies after they conduct a §363 asset sale, according to an article in the May issue of ABI Journal.

J D Factors provided $775,000 in recent factoring facilities, including a $300,000 factoring facility to a transportation company in Quebec.