News

Audax Private Debt, the debt financing unit of alternative investment manager Audax Group, successfully closed the Audax Direct Lending Solutions Fund with $1.65 billion in capital commitments.

Wells Fargo served as administrative agent on an amendment to Canyon Midstream Partners II’s revolving credit facility, increasing the borrowing capacity from $70 million to $100 million.

Total bankruptcy filings during calendar year 2018 decreased 2% from 2017, according to the American Bankruptcy Institute from data provided by Epiq Systems.

Encina Business Credit provided a $30 million senior secured credit facility to a transportation services company.

Duane Morris promoted six associates and special counsel to the firm’s partnership in the Business Reorganization and Financial Restructuring Practice Group, the Corporate Practice Group and the Trial Practice Group.

Golub Capital served as administrative agent, sole bookrunner and sole lead arranger on a GOLD facility to support J.H. Whitney Capital Partners’ majority buyout of Firebirds Wood Fired Grill.

mBank Business Credit provided a $1.25 million line of credit to a medical products distributor based in Illinois.

Maxim Commercial Capital launched a new website in celebration of its tenth anniversary. Since 2009, Maxim has solved the liquidity needs of over 5,370 business owners nationwide by providing hard-asset secured financing.

Kansas-based salon and spa retailer Beauty Brands has filed for Chapter 11 in the wake of 25 store closures, according to the Kansas City Star.

BMO acted as agent and lead lender on C$80 million ($60.2 million) in secured debt financing for Canopy Rivers’ joint venture, PharmHouse. CIBC and Concentra Bank also participated as lenders on the facility.