News

Trax Technologies and Veraction agreed to merge. The combined business will offer customers a single global technology platform across all shipping modes and a leading suite of transportation spend management analytics. _x000D_ _x000D_

Three highly ranked restructuring lawyers - Nancy A. Mitchell, Maria J. DiConza and Matthew Hinker - will join O’Melveny’s Bankruptcy & Restructuring practice, based in New York.

Tax advisory firm Ernst & Young named Michael Ching managing partner in the Honolulu office. He succeeds Jeff Bartlett, who is retiring after 35 years with the firm.

Stacia Schlosser Ryan will join Perella Weinberg as a partner in its Advisory business based in Chicago.

Amerisource Business Capital closed and funded a $500,000 credit facility for a distributor of parts and components for light and heavy-duty trucks based in Nebraska.

Reuters reported that U.S. companies are increasingly choosing to raise second-lien loans rather than cheaper high-yield bonds._x000D_ _x000D_

Atlantic Street Capital refinanced Fast Sandwich with a first lien term loan and a revolving credit facility. Capital Southwest acted as sole administrative agent on the credit facility. _x000D_ _x000D_ _x000D_ _x000D_

Tradewind closed a $1 million post shipment finance facility for an international auto parts trading company based in China. The company sells mostly to customers in Europe and the U.S.

Oxford Square Funding, a subsidiary of Oxford Square Capital, entered into a credit facility with Citibank. The company borrowed approximately $95.2 million under the facility.

1st Commercial Credit provided more than $1.2 million in accounts receivable factoring for two medical device companies.