News

TCF Bank unveiled a $1 billion loan commitment to minority communities and minority- and women-owned small businesses, and a $10 million grant program to assist low-to-moderate income home buyers.

Alex Sutton, managing director and head of research at Gordon Brothers, said, “The agreement will impact cost structures, product mix, commodity prices, local market dynamics and a wide range of other operating issues.”

Ascena Retail Group engaged SB360 Capital Partners as its consultant to conduct store closing sales at most of its retail locations.

More than half (58%) of small business owners reported that they expect their revenue to decrease in 2020, even though 47% said they did not have to close for any amount of time during the COVID-19 pandemic, according to data...

Sound Point Capital will provide Pyxus International with a bankruptcy court-approved $75 million revolving credit facility upon the effective date of a prepackaged plan of reorganization between Pyxus and its affiliated debtors.

Ascena Retail Group entered into a restructuring support agreement with more than 68% of its secured term lenders and received commitments for $150 million in a new money term loan from its existing lenders.

Global Eagle Entertainment agreed to a definitive stalking horse asset purchase agreement for total consideration of $675 million with an entity led by lenders including Apollo Global Management and certain funds and accounts under management by BlackRock.

CVC Credit Partners closed Apidos XXXIII, a collateralized loan obligation fund totalling $400 million.

According to an article in the ABI Journal, the COVID-19 pandemic is forcing common law jurisdictions and civil law jurisdictions to accelerate the move toward electronic signatures, electronic filings and remote notarizations.

The International Factoring Association appointed Meg Roberson, senior vice president and national sales manager for Gulf Coast Business Credit, a new advisory board member.