Innovative Financing: From Mellon & Sons to Alternative Lenders’ Impact on ABL Today

In the face of continuing bank regulation, alternative lending companies are launching to fill in the gaps. ABF Journal contributor Hugh Larratt-Smith examines the types of loans these lenders are providing and shows how ABL lenders can benefit by teaming up with these new players.

Benefit Street Provides $58MM Elk Petroleum Facility

Benefit Street Partners provided Elk Petroleum with a $58 million senior debt loan facility to be used in connection with the Grieve Project JV restructuring.

Goldman Sachs, Benefit Street Lead Refi for Santek Waste Services

Santek Waste Services has secured a new $153 million credit facility from a lender group led by Goldman Sachs Specialty Lending group and Benefit Street Partners.

Citibank Consents to TICC Capital Change of Control Deal

TICC Capital reached an agreement with Citibank, as administrative agent of its TICC Funding $150 million revolver, regarding consent to a proposed change of control transaction.

Benefit Street Amends Cross Country Second Lien Loan

Cross Country Healthcare said it amended its second lien loan with Benefit Street Partners to reflect modified pricing predicated on the company’s net leverage ratio.