Newcleus, a provider of employer-owned life insurance and annuity products, completed a strategic transaction with the Waterfall Sentinel Fund, a private equity vehicle managed by Waterfall Asset Management.
Horizon Technology Finance Management entered into an agreement with Waterfall Asset Management to originate and manage a venture debt portfolio. Horizon will originate and manage an initial commitment of $100 million, with the potential to increase to $300 million over time.
Valaris received approval from the United States Bankruptcy Court for the Southern District of Texas of its prearranged plan of reorganization. Valaris also will receive a $520 million capital injection through the issuance of a $550 million secured note.
Valaris entered into a $500 million Debtor-in-Possession term loan agreement with certain of its noteholders.
Barings BDC and MVC Capital entered into a definitive merger agreement. The combined company, which will remain externally managed by Barings, is expected to have more than $1.2 billion of investments on a pro forma basis.
Noble Corporation entered into a restructuring support agreement with two ad hoc groups of the largest holders of the company’s outstanding bond debt. In addition, JPMorgan Chase will serve as administrative agent on a $675 million secured revolving credit facility for Noble Corporation.
Sanjay Thapar has joined Kramer Levin Naftalis & Frankel as a partner in the Leveraged Finance group.