News

The Bancorp Bank, a wholly-owned subsidiary of The Bancorp, joined the roster of lenders on the Envestnet Credit Exchange, providing financial advisors with access to securities-backed lines of credit.

Crestmark secured a total of $6.5 million in ABL financial solutions for four new clients in the first half of August. As a whole, Crestmark provided more than $47 million in commercial financing.

Alvarez & Marsal is acting as restructuring advisor to FTS International, which entered into a restructuring support agreement with a majority of its secured debt holders and will commence voluntary cases under Chapter 11 of the U.S. Bankruptcy Code in...

1st Commercial Credit, an Austin, TX-based factoring company, expanded its sales territory with sales offices in Dallas, Houston and San Antonio, TX.

Lenders under Cequence Energy’s $50 million second lien senior secured term loan will convert $17.9 million and the unpaid interest on the term loan into unsecured debt as part of a restructuring agreement.

GoldenTree Loan Management II and its affiliated investment manager, GoldenTree Asset Management, closed a $443 million collateralized loan obligation. The CLO was arranged by a bank syndicate including Wells Fargo Securities as structuring lead.

KB US Holdings, the parent company of the Kings Food Markets and Balducci's Food Lover's Market, accepted a stalking horse bid from TLI Bedrock to purchase the company for $75 million.

Wellfleet Credit Partners, the performing credit business of Littlejohn & Co., closed Wellfleet CLO 2020-2, a $396 million collateralized loan obligation. Credit Suisse Securities acted as the arranger for the CLO.

FTI Consulting is serving as financial advisor to FR TNT Holdings (TNT), which filed for voluntary Chapter 11 protection in the U.S. Bankruptcy Court for the District of Delaware. TNT also secured commitments for a $45 million debtor-in-possession financing.

A U.S. bankruptcy judge in Nevada recently confirmed Alpha Guardian’s Chapter 11 bankruptcy plan, with Nicholas Rubin, co-founder of Force 10 Partners, serving as chief restructuring officer.