News

A syndicate of seven banks led by ING Capital extended BlackRock TCP Capital’s SVCP revolving credit facility by one year to May 6, 2024. The size of the facility remains $270 million, and the pricing and advance rates were unchanged.

The AICPA called for the Federal Reserve to create a short-term accounts receivable lending facility for small businesses.

Bank of the West led the fifth amendment to American Vanguard’s second amended and restated credit agreement, increasing the ratio of maximum loan to trailing EBITDA to 4.25-to-1 and then gradually decreasing the ratio to current levels over the next...

Crestmark secured a total of $24.15 million in ABL financial solutions for 14 new clients in the first half of April, including a $12 million ledgered line of credit facility to an air transport support and services company in Texas.

CIT Group is collaborating with Fintainium to provide an integrated payments and financial workflow management solution for small and midsize businesses. The two companies will waive subscription fees for the first three months.

The Federal Reserve Board will report information on a monthly basis for the liquidity and lending facilities using Coronavirus Aid, Relief and Economic Security (CARES) Act funding.

Suzzanne Uhland joined Latham & Watkins’ New York office as a partner in the restructuring and special situations practice within the finance department. Uhland joined Latham from O’Melveny & Myers.

BMO Harris Bank and 1871 are now accepting applications for WMN•FINtech, a mentoring program for women-led startups and the latest evolution of the BMO Harris/1871 Innovation program.

The American Bankruptcy Institute selected Chief Bankruptcy Judge Barbara J. Houser as president of the board of directors for a one-year term. In addition to Houser’s appointment, Robert P. Reynolds was named president-elect and will become president in April 2021.

Alvarez & Marsal is serving as restructuring advisor and Lazard Frères & Co is serving as financial advisor to Diamond Offshore Drilling, which filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code.