Blackstone announced that the Blackstone Private Multi-Asset Credit and Income Fund (BMACX) has been declared effective by the U.S. Securities and Exchange Commission.This marks a significant milestone for BMACX, which will aim to provide individual investors a one-stop, private multi-asset credit solution designed to access strategies across Blackstone’s $453 billion credit platform through an interval fund structure. BMACX will invest across private corporate credit, asset based and real
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March 11, 2025 @ 08:15 AM
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Silver Point Capital announced that its Direct Lending business has led the financing supporting the previously announced acquisition of Brightcove Inc., a U.S.-based streaming technology company, by Bending Spoons, the Italy-based technology company.In connection with its $233 million acquisition of Brightcove, which has closed, Bending Spoons has raised a $600 million secured term loan to fund the transaction and to add cash to the balance sheet primarily to support future acquisitions and
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March 11, 2025 @ 08:00 AM
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First Citizens Bank announced that its CIT Commercial Services subsidiary provided a $45 million non-recourse factoring facility to a sponsor-owned, technology-driven logistics services company in the Mountain States region.The transaction was referred by Silicon Valley Bank, a division of First Citizens Bank, which provided an additional asset-based credit facility supported by non-factored accounts and other assets.By leveraging First Citizens Bank’s collective expertise in structured lending
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March 11, 2025 @ 07:59 AM
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Client: An established Arizona contractor provides commercial and residential glass as well as commercial wood and metal doors. Clients include large hotels, hospitals, office buildings and retail locations as well as residential clients requiring specialty applications in custom glass, mirrors and shower surrounds.Situation: In the midst of an acquisition, the buyer required additional capital to complete the deal, however their existing bank does not lend in the construction industry. They
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March 11, 2025 @ 07:56 AM
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Monroe Capital acted as sole lead arranger and administrative agent on the funding of a senior credit facility to support the growth of a360inc (“a360”) and ProVest, LLC (“ProVest”, together, the “Company”) by funds sponsored by Morgan Stanley Investment Management, Knox Capital, and Nonantum Capital Partners.Founded in 1991 and headquartered in Tampa, FL, ProVest is a legal support services firm, offering specialized expertise in managing service of process and other creditors’ rights for major
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March 11, 2025 @ 07:47 AM
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Flatbay's client is a seasoned entrepreneur and national commercial real estate developer. They have overseen the development of more than 50 projects, including multifamily, office, retail, and industrial spaces.The Situation: The entrepreneur qualified for traditional bank financing, but chose an alternative funding approach to secure flexible funding and shorter repayment terms. The entrepreneur was introduced to Lili Tafilaj, BDO of Flatbay Capital.The Solution: Flatbay Capital secured a
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March 11, 2025 @ 07:11 AM
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Dykema, a leading national law firm, announced the addition of seven attorneys to the firm’s Houston office, doubling the office’s lawyer headcount. This expansion strengthens the firm’s capabilities in key practice areas, including energy, bankruptcy and restructuring, mergers and acquisitions, business taxation and planning, corporate and finance, labor and employment, and business immigration. The firm welcomes Arthur Nathan, William Hotze, Kari Lutringer, James Prappas, and Michael Twomey
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March 11, 2025 @ 07:00 AM
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Wingspire Capital provided a senior secured credit facility to Reservoir Communications Group to support the health care consultancy’s growth plans, staff expansion, and technology investments.Wingspire Capital’s financing was in collaboration with a debt and equity investment by Avante Capital Partners, and gives Reservoir Communications Group greater liquidity, flexibility, and growth capital.Washington, D.C.-based Reservoir Communications Group was founded in 2014 and works with health care
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March 10, 2025 @ 08:15 AM
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CIBC Innovation Banking provided a growth-focused credit facility to SpryPoint Services Inc., a leading provider of software for public utilities.SpryPoint helps utilities transform customer service and operations across a cloud-native platform. SpryPoint's approach to the meter-to-cash lifecycle helps utilities go beyond routine tasks – becoming true partners in the modernization journey to create lasting impact and greater value for their clients.“We are thrilled to embark on this exciting new
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March 10, 2025 @ 08:10 AM
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Accuride Corporation announced the successful completion of the Company's restructuring process and emergence from Chapter 11.Accuride's restructuring process equitizes over $400 million of funded debt and restructures ~$170 million of additional obligations. Accuride also receives significant new investment from its existing investors in the form of a $70 million asset-based lending facility and an $95+ million exit facility, both of which are designed to bolster the Company's liquidity and
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March 10, 2025 @ 08:05 AM
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Post Road Equipment Finance ("PREF") successfully closed a $15 million sale-leaseback transaction with a leading sustainable labels and packaging manufacturer. The company specializes in premium label solutions, serving blue-chip clients across the personal care, premium beverage, and household product markets.This transaction provides the manufacturer with immediate liquidity to fund critical investments in new equipment, boosting manufacturing capacity and supporting expansion into strategic
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March 10, 2025 @ 08:00 AM
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Walker & Dunlop anounced that it priced its previously announced amended and restated senior secured credit agreement.The $450 million term loan facility under the amended and restated credit agreement will initially bear interest at a rate equal to SOFR plus 2.00%. Following the first full fiscal quarter ending after the closing date, the applicable interest margin on the term loan facility will be subject to a 25 basis points step down if the Company’s total leverage ratio is equal to or less
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March 10, 2025 @ 07:50 AM
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The International Factoring Association (IFA) announced the appointments of Robert Center, Senior Relationship Manager at Quasar Capital and Wallace Vaughan, CEO of Factor Cloud LLC to the NEXGEN Committee. The mission of the NEXGEN Committee is to support the IFA’s commitment to attract, develop, engage, and retain the next generation of factoring talent while focusing on creating valuable resources, networking opportunities, and engaging programs.“I warmly welcome Robert and Wallace to the
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March 10, 2025 @ 07:38 AM
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Salem Five has hired Keith Broyles, an experienced banker, to lead the asset-based lending (ABL) initiative, which is new to the organization.Broyles, who began his banking career in 1990, has been named Senior Vice President in charge of the new Business Credit team at Salem Five. Broyles and his team will provide ABL solutions to businesses, helping those customers manage their cash flow, among other common business needs.“This was the missing piece in our commercial banking program,” said
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March 07, 2025 @ 08:00 AM
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First Citizens Bank's Energy Finance business served as lead agent on a $74 million financing of GridStor’s Hidden Lakes Reliability Project, a 220 MW / 440 MWh battery storage project in Galveston County, Texas.GridStor is a developer and operator of utility-scale, standalone battery storage projects and is owned by funds managed by Goldman Sachs Asset Management. The financing will support the remaining construction of the Hidden Lakes project, which is expected to enter into commercial
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March 07, 2025 @ 07:55 AM
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