It seems like a new alternative lender enters the secured lending market every day. In the midst of this constant change, bank-based lenders need to be vigilant in understanding their borrowers’ debt structures as well as the motivations of the other lenders in the capital stack.
The last two years have shown us that prognosticating is a difficult game, but James Poston of eCapital did just that by examining the specialty finance industry landscape to outline five trends that will emerge in 2022.
As non-traditional forms of data continue to push themselves into the credit-decisioning process, Tanvi Anand and Sachin Goel of Fischer Jordan take a look at the benefits and challenges of using one the most enticing sources of data: web usage.
Finacity and PNC Bank launched a trade receivables securitization for a U.S.-headquartered technology support company. The securitization program will allow the company up to $25 million in senior funding provided by PNC, while Finacity will provide up to $1.6 million in junior funding.
Maranon Capital added five members to the firm’s investment and portfolio teams. Christian Jacobs has joined the firm’s investment team as an analyst and Daniel Figliulo, Quinn Gaughan, Gregory Hulse and Jacqueline Trujillo joined the portfolio team as portfolio analysts.
White Oak Global Advisors completed fundraising for White Oak Yield Spectrum Fund V and other associated vehicles with more than $1.3 billion of total committed capital. An additional commitment of up to $1 billion was received for investments in specialty finance with a focus on asset-based lending.
New Mountain Capital, which manages more than $35 billion across private equity, credit and net lease real estate, closed its latest direct lending fund, New Mountain Guardian III BDC, with approximately $1.15 billion of capital commitments from investors.
When it comes to preserving lending relationships or finding new ones, all lenders need and want every tool available. One lesser-known tool used in times if distress is the Article 9 reorganization or sale, which can save a struggling business and help lenders recoup value and access new financing opportunities.
John David Folds of Baker Donelson provides a host of important steps lenders need to take when working with struggling long-term healthcare facility borrowers as the COVID-19 pandemic continues to negatively impact the sector.