Although the mainstream opinions and press regarding the economy seem to be trending negative, we continue to see our clients find opportunities and close deals. It should be an interesting Q4 and Q1 to see how global systematic issues may affect the loan market however in recent weeks we continue to see our clients, like Abacus, successfully close transactions. Congratulations to the Abacus team on another successful transaction!
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Lending Activity Continues Despite Uncertain Economic Outlook
Abacus Finance, a provider of cash flow-based, classic senior debt for sponsor-led buyouts of companies with $3 million to $15 million in EBITDA, served as senior secured credit facilities administrative agent and sole lender for senior secured credit facilities to support the financing of Automated Handling Solutions by May River Capital. Abacus made an equity co-investment in Automated Handling Solutions.
As lenders and borrowers try to get creative in working through ongoing distress in the real estate market, especially in certain asset...