Brigade, B. Riley Provide $218MM New Financing for Barneys

Barneys New York has secured approximately $218 million in new financing from Brigade Capital Management and B. Riley Financial to facilitate a going concern sale process. This new agreement replaces the previously announced $75 million agreement with affiliates of Hilco Global and the Gordon Brothers Group and will refinance all of Barneys New York’s existing secured indebtedness.

WSFS Agents $175MM DIP Facility for Sanchez Energy

Sanchez Energy and certain of its subsidiaries have voluntarily filed for reorganization under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas. According to a related 8-K filing, WSFS will serve as administrative agent on a $175 million debtor-possession facility to facilitate the bankruptcy process.



Merge to Create Internally Managed BDC

Sierra Income, Medley Capital and Medley Management have entered into agreements under which MCC will merge with and into Sierra and Sierra will simultaneously acquire MDLY and its existing asset management business, which will operate as a wholly owned subsidiary of the company. Following the closing of the transactions, Sierra will be the surviving entity, and the company will be operated as an internally managed business development company.