News

The American Bankruptcy Institute reported a total of 306 commercial Chapter 11 bankruptcies for the month of June 2018, a 49% decrease from the 601 commercial Chapter 11 filings in June 2017.

Micron Technology closed a $2 billion revolving credit facility with JPMorgan as administrative agent and joint lead arranger.

Shipping company Celadon Group amended its revolving line of credit, increasing the maximum borrowing capacity from $180 million to $195 million and the letters of credit from $30 million to $35 million.

Altius Minerals amended its existing credit facility to refinance its existing term and revolver debt. Bank of Nova Scotia and ING Capital led the refinancing, with TD Bank and Export Development Canada participating.

FAT Brands entered into a $16 million senior credit facility with FB Lending. The company will partially use the proceeds to complete its acquisition of Hurricane Grill & Wings.

Aegean Marine Petroleum entered into a memorandum of understanding with Mercuria Energy Group and its affiliates to support Aegean's existing U.S. and global revolving credit facilities and to explore a global strategic partnership.

Learning Tree International entered into a line of credit agreement with the Kevin Ross Gruneich Legacy Trust, which will provide the company with access to up to $5 million at a fixed interest rate of 5% per year.

Enssolutions Group entered into a short term secured loan agreement with Hermelin Bridge, a New York-based working capital financing company. Hermelin advanced the company a $100,000 non-revolving term loan.

Reuters reported that syndicated lending is peaking, partly due to lowered corporate taxes and a push to borrow before interest rates rise. The result is an upswing in mergers and company refinancings._x000D_ _x000D_

The SEC charged T.J. Jesky and Mark F. Stefano with profiting from illegal sales of stock of a company claiming to have a blockchain-related business. The pair agreed to return approximately $1.4 million of allegedly ill-gotten gains and pay $188,682...