Encompass Appoints Sharp as ABL Industry Advisor

April 29th, 2016
Encompass  appointed former CEO of the Asset Based Finance Association (ABFA), Kate Sharp, as an industry advisor. Sharp will be responsible for supporting and accelerating the company’s growth as a supplier of innovative visual analytics technology to the UK’s asset based lending, factoring and invoice discounting industries. Sharp served as CEO of the Asset Based Finance Association from 2003 to 2014. Read more: Encompass Appoints Sharp as ABL Industry Advisor

GMA Funding Names Rothman CEO of GMA Factor’s Operating Units

April 29th, 2016
GMA Funding, a provider of factoring and alternative commercial finance services, announced the board of directors selected James Rothman as CEO of GMA Factor and its operating units GMA USA and CoreFund Capital . Rothman will be joining GMA and its family of companies to grow it into a multi-dimensional lender with assets in asset-based lending, factoring, merchant funding, real estate finance, lender finance, as well as the proprietary loan servicing platforms developed by the group. “While ABL and ...

JPMorgan, Wells Lead New $200MM Facility for Drew Industries

April 28th, 2016
Drew Industries, a supplier of components for the recreational vehicle and adjacent industries, has replaced its existing $100 million credit facility with a new five-year $200 million revolving credit facility. The company had no borrowings under the prior facility at the closing of the refinancing. Read the original: JPMorgan, Wells Lead New $200MM Facility for Drew Industries

Siena Closes $15MM Rotorcraft Leasing Facility

April 28th, 2016
Siena Lending Group completed a $15 million credit facility for Rotorcraft Leasing Company to refinance its existing senior debt and to support its working capital needs. Rotorcraft is an investment of Bain Capital Credit, formerly known as Sankaty Advisors. Headquartered in Broussard, LA, Rotorcraft provides helicopter transportation of personnel, parts and equipment to and from offshore platforms and rigs for customers primarily engaged in oil and gas production in the shallow waters of the Gulf of Mexico. See the ...

RBC Agents Martin Midstream $664MM Revolver Amendment

April 28th, 2016
Martin Midstream Partners s amended its $664 million revolving credit facility, extending the agreement to March 2020. The Royal Bank of Canada was administrative agent for the transaction See original here: RBC Agents Martin Midstream $664MM Revolver Amendment
Posted under: Business credit Inc lending

Fifth Street’s Q2/16 Capital Markets Outlook

April 27th, 2016
Volume Declines Dramatically Totaling just $7.33 billion, sponsored middle market loan volume reached a six-year low in the first quarter — exceptionally weak even when viewed against the traditional seasonal pattern of lighter volume. On the heels of a sluggish year in 2015, we remained cautious in our outlook for the new year; yet, volume dropped more precipitously than expected See original here: Fifth Street’s Q2/16 Capital Markets Outlook