The U.S. Bankruptcy Court for the Southern District of New York confirmed Garrett Motion’s plan of reorganization, positioning the company to complete the implementation of the plan, which will be led by funds managed by Centerbridge Partners and Oaktree Capital Management.
NN completed a new financing with J.P. Morgan, Oaktree Capital Management and Morgan Stanley Tactical Value to provide a $50 million asset-based credit line, a $150 million term loan and a $65 million preferred stock issuance, respectively.
A syndicate of lenders, including funds managed by BlackRock’s U.S. private capital group, Oaktree Capital Management and UBS O’Connor provided a five-year term loan totaling $175 million for Velocity Financial, a provider of small balance investor loans.
Oaktree Capital Management delivered a $250 million debt investment for Ocwen Financial, a non-bank mortgage servicer and originator. Barclays and Credit Suisse acted as placement agents to Ocwen.
Encina Lender Finance and Sterling National Bank provided a senior credit facility to iBorrow, a national private commercial real estate lender. Oaktree Capital Management also made a direct investment in the company.
Oaktree Capital Management provided a $200 million senior secured term loan to Ashford Hospitality Trust. The term loan can be upsized by $150 million to an aggregate amount of $350 million.
Runway Growth funded three loans and other investments during Q3/20, including a $40 million senior secured term loan commitment to new portfolio company, Porch.com.
Encina Capital Partners launched Encina Lender Finance, a new independent lender finance platform targeting commercial and consumer specialty finance companies in the U.S. and Canada. Luke Graham and John Thomas will lead the new platform.
QuadPay, a U.S.-based payment installment platform, has secured a senior secured committed revolving line of credit of up to $200 million from Goldman Sachs, with mezzanine financing provided by Oaktree Capital.
EducationDynamics has raised $80 million from WhiteHorse Capital Management to finance the acquisition of Thruline Marketing assets from Oaktree Capital Management. The company also raised $12.5 million from Encina Business Credit in the form of a revolving credit facility.