News

Pacific Basin Shipping, a global dry bulk shipping company, closed a $40 million 7-year term loan facility with Danish Ship Finance.

Waypoint Leasing Holdings and certain of its subsidiaries filed voluntary petitions for relief under Chapter 11. Houlihan Lackey is acting as investment banker for the company during the bankruptcy process.

Orchids Paper Products amended its credit agreement with U.S. Bank and other lenders, increasing its borrowing capacity under the revolving line of credit by $5.9 million.

Bengal Energy amended its secured credit facility with Australia-based Westpac Institutional Bank. The amendment includes a 14 month deferral of all principal payments on the facility.

Ares Management completed its conversion to a corporation under Delaware law and changed its name from Ares Management, L.P. to Ares Management Corporation.

SunTrust Bank acted as administrative agent on an amendment to Midstates Petroleum’s senior secured credit agreement.

NanoString Technologies entered into an amended and restated loan and security agreement with Silicon Valley Bank, increasing the size of its revolving loan facility to $20 million.

Grant Thornton promoted Billy Moore from chief financial officer to a newly formed role as chairman of the firm’s Operating Committee. Grant Thornton veteran Sam Shaw will succeed Moore as CFO.

WhiteHorse Finance amended its existing credit facility with J.P. Morgan Chase.

Apollo Investment amended its senior secured revolving credit facility, with lender commitments upsized from $1.19 billion to $1.59 billion. JPMorgan Chase Bank served as administrative agent on the transaction.