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Back in the Game — Second Liens Taking Control in Distressed Situations

Regardless of the ultimate form of the transaction, recent history has shown that second lien debt has increasingly become a popular means of currency to take control of underperforming and overleveraged companies. These types of transactions will continue to become more prevalent as more participants enter this arena through the continuous raising of distressed fund capital. In addition, the success that some funds have had using these tactics will lead to their increased use in other distressed situations.

May 7, 2012 | | ABF Journal

Baubles, Beechcrafts and Brand Names: Lending Against Untraditional Assets

Incorporating the value of untraditional assets into a debt structure to generate incremental liquidity is anything but formulaic and lenders need to approach this with two things in mind. First, it’s smart to assume a wind-down is going to happen to identify any pitfalls in the exit strategy. Second, like an archaeologist, lenders need to bring a relentless commitment to keep digging.

April 7, 2012 | | Rita Garwood

Unobstructed View – When it Comes to the Economy, Lenders to the Staffing Industry Have a Front Row Seat

When economic changes are afoot, lenders serving the staffing industry have the advantage of a front row seat. Therefore, we asked three industry experts for their perspective on their dynamic industry: Stephen Leavenworth at Sterling Bank’s Payroll Finance division, James Rothman of Crestmark Bank and G. Allen Geyer of ARG Financial. The three speak to topics ranging from the mechanics to lending to the staffing industry to the indications they perceive for key sectors they serve.

April 3, 2012 Rita Garwood

Amalgamated Capital Cultivates Relationship in Closing Financing for Klochko Equipment Rental

In any business, the quality of relationships forged can be the determining factor in getting a job done, and the asset-based financing industry is no exception. This was the case of Amalgamated Capital and Klochko Equipment Rental, where an open and honest relationship cultivated between the two companies proved key to originating the right financing to meet the Midwest-based company’s needs.

March 1, 2012 ABF Journal

Six Advantages of Financing With a Specialty Lender

In today’s very competitive environment every basis point counts, but middle-market companies must be careful not to fixate on a lender’s interest rate to the exclusion of all else. Interest rates matter and a lender must be competitive. But first and foremost, a company should consider the depth of a lender’s industry knowledge.

March 1, 2012 ABF Journal

Asset-Based Lending Hits Record High in 2011, Expectations of Normalized Issuance Levels in 2012

Asset-based lenders began 2011 with roughly $30 billion of volume in each of the first two quarters and a record-worthy $24 billion in Q3/11. Amid heightened market volatility in Q4/11, fueled by fears around the euro-zone debt crisis, volume slowed to $18 billion in line with the broader leveraged loan market pullback in August and September.

March 1, 2012 | | ABF Journal

Testing Your Metal: Hedging to Manage Price Risk

Global metal markets have experienced profound changes over the past ten years, creating vast opportunity, as well as unparalleled challenges for both lenders and borrowers in the industry. To fully appreciate the evolution that has occurred and its impact upon the markets, one must look back in time to understand the changes that have occurred and what they portend for the future.

January 31, 2012 | | ABF Journal