Ares Commercial Finance provided a $100 million senior secured revolving line of credit to Pace Industries, an entity owned by funds and accounts managed by TCW Asset Management Company and by affiliated funds and accounts of Cerberus Capital Management.
Cerberus Capital Management has closed approximately $5.1 billion of commitments for its global non-performing loan (NPL) strategy.
The U.S. Bankruptcy Court approved Remington Outdoor’s restructuring plan, with the company anticipating an emergence from Chapter 11 by the end of May with a new $193 million ABL facility.
Cerberus Capital Management appointed Matt Zames president of Cerberus and promoted Frank Bruno and Lee Millstein to co-CEO of Cerberus and president of the firm’s international business, respectively.
According to The Wall Street Journal, firearms manufacturer Remington Outdoor has filed for Chapter 11, an anticipated move after it announced its plans to do so in February.
Cerberus Capital Management appointed Roberto Nicastro a senior advisor to the firm focusing on investment opportunities and partnerships in the European financial services sector.
An affiliate of Cerberus Capital Management completed its previously announced acquisition of Cyanco Holding from funds managed by Oaktree Capital Management.
Bloomberg reported that the Remington’s creditors are looking for a quick sale after the beleaguered gun company emerges from Chapter 11.
ETC Global Group entered into a new financing facility with Cerberus Capital Management and Quantlab Investments to provide up to $68 million in committed capital.