PJ Solomon, a financial advisory firm, appointed Sash Rentala managing director to lead its newly formed financial sponsors group.
PNC Bank served as administrative agent on a $400 million asset-based revolving credit facility and, according to an 8K, Sixth Street Specialty Lending served as administrative agent and lead arranger on a $250 million senior secured term loan for Designer Brands.
Brooks Brothers filed a motion in the United States Bankruptcy Court for the District of Delaware to obtain court approval of an asset purchase agreement with stalking horse bidder SPARC Group.
FTI Consulting served as restructuring advisor for Save A Lot, a U.S. discount grocer, which successfully completed the recapitalization of its business and delverged its balance sheet. In addition, Alix Partners served as restructuring advisor to Save A Lot’s term loan lenders.
The Payless Board of Directors authorized the company to seek court approval of up to $25 million in debtor-in-possession financing. WSFS Bank will act as administrative agent and collateral agent on the financing.