News

AlixPartners is serving as restructuring advisor, PJT Partners is serving as financial advisor and Kirkland & Ellis is serving as legal advisor to Akorn, which filed for voluntary protection under Chapter 11 of the U.S. Bankruptcy Code.

Finacity closed a trade receivables securitization program for Startek. The funds from the securitization facility were used to refinance an existing asset-based loan facility.

Sallyport Commercial Finance approved a $1.75 million accounts receivable facility to a group of staffing companies that provide recruiting services to Canada and the U.S.

According to data from Datasite and Debtwire, 71% of U.S. dealmakers, 70% of deal markers in Europe, the Middle East and Africa, and 61% of dealmakers in the Asia Pacific region expect to see more restructuring activity in the next...

LBC Small Cap, an affiliate of LBC Credit Partners, recently provided financing to support the growth of two U.S.-based lower middle market companies. In addition, the company added Chris Weidner to the investment team as a senior associate.

Allied Affiliated Funding provided $1.5 million in receivables financing to a New Jersey-based pet wash manufacturing company and $300,000 in debtor-in-possession receivables financing to a Texas-based manufacturer.

All Js Greenspace agreed to provide up to $7.2 million in debtor-in-possession financing to Green Growth Brands, which filed for insolvency protection under Canada’s Companies’ Creditors Arrangement Act.

The COVID-19 pandemic has created pessimism in the U.S. economy’s near-term performance, according to a survey from Phoenix Management. The survey revealed 100% of lenders expect an increase in bankruptcies and loan losses.

Ankura is serving as financial advisor, Houlihan Lokey is serving as investment banker and Weil, Gotshal & Manges is serving as legal counsel to Exide Technologies, which filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code.

Prestige Capital Funding closed a $2.5 million factoring arrangement for a Florida–based designer and distributor of vascular tubing, catheters and pediatric intravenous kits for sale to institutional medical concerns.