News

Liquid Finance completed a transaction for GVM to help the agricultural equipment manufacturer exit Chapter 11 bankruptcy.

According to documents filed with the United States Bankruptcy Court for the Northern District of Texas, Fort Worth Division, Ares Capital will serve as administrative agent on a debtor-in-possession credit agreement for Vista Proppants and Logistics.

Goldman Sachs BDC and Goldman Sachs Middle Market Lending amended and restated their agreement and plan of merger, dated Dec. 9, 2019. The consummation of the merger is currently expected to occur in Q4/20.

Kroll Bond Rating Agency assigned a subordinated debt rating of BBB to NBT Bancorp and a subordinated debt rating of BBB+ to the company’s principal subsidiary, NBT Bank.

Reich Bros Structured Finance’s subsidiary, Reich Bros Business Solutions, will operate, effective immediately, under the name Align Business Finance. According to the company, the new name more accurately addresses the company’s customer philosophy.

GSO/Blackstone Debt Funds Management, an affiliate of GSO Capital Partners, announced monthly distributions for three closed-end funds it advises.

The International Factoring Association officially formed its southeast chapter this month. The new chapter will serve Florida, Georgia, South Carolina, North Carolina and Southern Virginia.

The small business loan application approval rate at big banks rebounded from just 8.9% in April to 11.5% in May, according to Biz2Credit. Small business loan approval rates also improved for smaller banks, institutional lenders, alternative lenders and credit unions.

The shareholders of Owl Rock Capital approved the reduction of the company’s minimum asset coverage ratio to 150% from 200%. The company plans to target a debt to equity range of 0.90x to 1.25x.

Balbec Capital closed on its InSolve Global Credit Fund IV, with total commitments of approximately $1.2 billion, exceeding the fund’s $1 billion target and making it Balbec Capital’s largest fund to date.