News

The United States Bankruptcy Court for the Northern District of California confirmed PG&E’s plan of reorganization. Following the confirmation of the plan, PG&E Corporation and Pacific Gas and Electric Company completed the initial stage of bankruptcy exit financing.

Certain funds managed by Lapis Advisers and Amundi Pioneer Asset Management filed a Chapter 11 plan of reorganization in the U.S. Bankruptcy Court for the Northern District of Illinois, Eastern Division to restructure the Clare Oaks retirement community.

Sunnova Energy International, a residential solar and energy storage service provider, closed its second solar-loan securitization and sixth residential solar securitization overall.

White Oak Commercial Finance funded more than $600 million in credit facilities in 2019 and more than $300 million year-to-date to diversified enterprises in North America, the UK, Europe and Australia.

PNC committed more than $50 million in charitable support for national and local work that will help eliminate systemic racism and more than $1 billion in community development financing and capital for neighborhood revitalization, consumers and small businesses.

According to the Wells Fargo Investment Institute’s 2020 midyear outlook, there will be a deep but short recession and a gradual U.S. economic recovery beginning in the second half of 2020.

iCapital Network entered into an agreement to acquire the alternative investments feeder fund platform from Wells Fargo’s global alternative investments division.

The U.S. Bankruptcy Court for the District of Delaware approved the first day motions related to 24 Hour Fitness’ voluntary Chapter 11 filing, including access to $250 million in debtor-in-possession financing.

Pagaya, a global financial technology company using artificial intelligence to reshape asset management and institutional investment, received a $102 million Series D funding round.

The PayNet Small Business Lending Index fell 14.4 points, or 11.8%, to 107.4 in April and is now 32% below its year-ago level, potentially suggesting that small businesses are substituting traditional lending with Paycheck Protection Program loans.