News

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.

According to a new survey from State Street, institutional investors still retain high levels of confidence in their asset managers amid the COVID-19 crisis. Specifically, 76% of institutional investors stated that they have faith in their asset managers’ ability to...

A growing number of suppliers are using their receivables as a source of liquidity to alleviate financial strains in the wake of the coronavirus pandemic, according to Maureen Sullivan, head of supply chain finance at Mitsubishi UFJ Financial Group.