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MPC Container Ships ASA Secures $100 Million in new Four-Year Revolving Credit Facility
January 16, 2024MPC Container Ships ASA (MPCC) has entered into a new USD 100 million four-year revolving credit facility agreement with Hamburg Commercial Bank (HCOB) at attractive terms. The facility remains undrawn and replaces former CIT and HCOB revolving credit facilities with a total commitment of USD 75 million and maturities in 2024 and 2026, respectively.
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Tetra Technologies, Inc. Announces $190 Million 6-Year Funded Term Loan to Refinance Maturing Debt and a $75 Million Delayed Draw Term Loan To Provide Capital for the Planned Bromine Processing Project
January 16, 2024TETRA Technologies, Inc. ("TETRA" or the "Company") (NYSE: TTI) announced that it has entered into a definitive agreement with Silver Point Finance ("Silver Point" or "SPF") for a $265 million credit facility with a maturity of January 2030, consisting of a $190 million funded term loan and a $75 million delayed-draw term loan that will refinance TETRA's existing term loan of $163 million and provide capital to advance TETRA's Arkansas bromine processing project.
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Smith Named Chief Information & Operations Officer at First Citizens BancShares, First Citizens Bank
January 16, 2024First Citizens BancShares, Inc. ("BancShares") announced today that Gregory L. Smith has joined the company as an executive officer and Chief Information & Operations Officer (CIOO) for BancShares and its subsidiary, First-Citizens Bank & Trust Company ("First Citizens Bank").
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Hut 8 Announces US$65 Million Amended and Restated Credit Facility with Coinbase
January 16, 2024Hut 8 Corp. (Nasdaq | TSX: HUT) (“Hut 8” or the “Company”), one of North America’s largest, innovation-focused digital asset mining pioneers, and high performance computing infrastructure provider, announced today that, together with its subsidiary, Hut 8 Mining Corp. (the “Borrower”), it has entered into an amendment and restatement of its credit facility
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MPearlRock Acquires nutpods, a Popular and Rapidly Growing Plant-Based Creamer Company
January 16, 2024MPearlRock today announced the acquisition of nutpods, a leading brand in the better-for-you, non-dairy coffee creamer category. MPearlRock is a partnership between PearlRock Partners and MidOcean Partners, a premier New York-based alternative asset manager specializing in middle market private equity and alternative credit investments, specifically focused on identifying and backing high-growth, emerging consumer packaged goods (“CPG”) brands. Terms of the transaction were not disclosed.
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NMEF Announces Promotions and Retirement of Joe Littier
January 16, 2024North Mill Equipment Finance LLC (“NMEF”), a leading independent commercial equipment lender headquartered in Norwalk, Connecticut, announced today the promotion of four employees representing several departments across the organization.
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Iron Horse Credit Provides a $4 Million Inventory Line of Credit to a Fleet Parts Manufacturer
January 16, 2024Iron Horse Credit (“IHC”), a leading inventory lender, is pleased to announce the closing of a $4,000,000 stand-alone inventory revolving line of credit to a fleet parts manufacturer, sister company to a forging manufacturer currently being financed by IHC.
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Mitsubishi HC Capital Canada Signs Partnership with Global OEM to Provide FMV leasing
January 16, 2024Mitsubishi HC Capital Canada, a subsidiary of Mitsubishi HC Capital America, announces it has signed a fair market value (FMV) lease program for a global OEM in the material handling industry.
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Jefferies and SMBC Expand and Strengthen Strategic Alliance, Broadening Joint Business Efforts Across EMEA
January 16, 2024-Jefferies Financial Group, Inc. (NYSE: JEF) (“Jefferies”) and Sumitomo Mitsui Financial Group, Inc. (NYSE: SMFG) (“SMFG”), Sumitomo Mitsui Banking Corporation (“SMBC”), and other group companies (collectively, “SMBC Group”) announced today that they have signed a memorandum of understanding to further expand their global strategic alliance to now include enhanced collaboration across Europe, the Middle East and Africa (“EMEA”) on future corporate and investment banking business opportunities.
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Black Press Announces Corporate Restructuring and Sale Transaction
January 16, 2024The Initial Order provides for, among other things, a stay of proceedings in favour of the Company, the approval of debtor-in-possession financing ("DIP Financing") to be provided by Canso Investment Counsel Ltd ("Canso"), and the appointment of KSV Restructuring Inc. as monitor of the Company (in such capacity, the "Monitor"). The Initial Order also extends the stay of proceedings to certain subsidiaries of the Company that are not petitioners in the CCAA Proceedings.
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Cooper Wage Joins First Business Bank As Vice President – Commercial Banking
January 16, 2024First Business Bank is pleased to welcome Cooper Wage to its Southeast Wisconsin office as Vice President – Commercial Banking.
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Huntington Business Credit Closes $20 Million Credit Facility with Energy Alloys Global Solutions Americas, LLC
January 16, 2024Huntington Business Credit announced it closed a $20,000,000 new credit facility with Energy Alloys Global Solutions Americas, LLC on December 8, 2023. Proceeds of the facility were used to refinance existing debt and provide ongoing working capital financing.
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Legacy Corporate Lending Closes 2023 with Four New ABL Investments
January 16, 2024Legacy Corporate Lending, LLC (“Legacy”), an independent asset-based lending (ABL) company focused on serving the needs of middle market companies across North America, today announced the closing of a robust slate of asset-based lending transactions during the second half of 2023.
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A&G Plans to Offer Eight Additional Rite Aid Store Leases and Three New Fee-Owned Properties
January 16, 2024A&G Real Estate Partners, in its capacity as real estate advisor to Rite Aid Corporation (“Rite Aid” or the “Company”), today announced plans to market for sale an additional tranche of neighborhood pharmacy leases and fee-owned properties, pending approval by the U.S. Bankruptcy Court for the District of New Jersey.
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Uniform Manufacturer Secures $12MM in ABL Funding from eCapital
January 16, 2024eCapital Corp. (“eCapital” or “the Company”), a leading technology-enabled provider of financing to small and medium-sized businesses (SMBs) across North America and the U.K., announces the recent funding of a $12MM asset-based lending facility tailored to support a US-based manufacturing company experiencing financial stress.
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Austin Financial Services Provides $15MM ABL Facility to a Poultry Processor & Distributor
January 16, 2024Austin Financial Services, Inc. (AFS) is pleased to announce the closing of a $15MM ABL facility, comprised of an AR and Inventory revolver to a Custom Poultry Processor & Distributor. The Company was seeking a lending partner who could provide greater flexibility than its current bank lender, while also understanding the unique challenges inherent to its business and their industry.
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BizCap Further Strengthens Financial Expertise, Welcomes Jeffrey K. Scott as Managing Director
January 16, 2024BizCap®, a commercial finance firm established in 2002, is thrilled to welcome Jeffrey K. Scott as Managing Director, based in Los Angeles. With an illustrious career spanning three decades in banking, finance, and advisory roles at esteemed institutions, Jeff brings unparalleled expertise and strategic vision to the BizCap team.
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Sallyport Commercial Finance Provides $500,000 in Financing for StartUp to Accelerate Growth
January 16, 2024Sallyport Commercial Finance is delighted to announce the first funding for 2024 - $500,000 in financing for a chemicals importer experiencing a common challenge for newer businesses. With no payment terms from their suppliers and extended payment terms from their customers, the client had a bottleneck in working capital preventing them fulfilling orders.
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Culain Capital Funding Closes $250,000 for Ohio-Based Artisan Food Company
January 16, 2024More and more businesses in need of fast, flexible working capital solutions beyond typical bank lending are turning to Culain Capital Funding. The latest is an Ohio-based food company, which recently received a $250,000 purchase order financing and accounts receivable factoring facility through Culain.
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Momnt and Saluda Grade Joint Venture Closes $200 Million Warehouse Facility from Macquarie Group
January 16, 2024Momnt, a leading fintech company specializing in real-time lending and payment solutions for businesses, and Saluda Grade, a synergistic and vertically integrated investment platform investing in emerging asset classes within the U.S. real estate sector, have closed an asset-backed revolving warehouse facility of up to $200 million from Macquarie Group (“Macquarie”).
-
MPC Container Ships ASA Secures $100 Million in new Four-Year Revolving Credit Facility
January 16, 2024MPC Container Ships ASA (MPCC) has entered into a new USD 100 million four-year revolving credit facility agreement with Hamburg Commercial Bank (HCOB) at attractive terms. The facility remains undrawn and replaces former CIT and HCOB revolving credit facilities with a total commitment of USD 75 million and maturities in 2024 and 2026, respectively.
-
Tetra Technologies, Inc. Announces $190 Million 6-Year Funded Term Loan to Refinance Maturing Debt and a $75 Million Delayed Draw Term Loan To Provide Capital for the Planned Bromine Processing Project
January 16, 2024TETRA Technologies, Inc. ("TETRA" or the "Company") (NYSE: TTI) announced that it has entered into a definitive agreement with Silver Point Finance ("Silver Point" or "SPF") for a $265 million credit facility with a maturity of January 2030, consisting of a $190 million funded term loan and a $75 million delayed-draw term loan that will refinance TETRA's existing term loan of $163 million and provide capital to advance TETRA's Arkansas bromine processing project.
-
Smith Named Chief Information & Operations Officer at First Citizens BancShares, First Citizens Bank
January 16, 2024First Citizens BancShares, Inc. ("BancShares") announced today that Gregory L. Smith has joined the company as an executive officer and Chief Information & Operations Officer (CIOO) for BancShares and its subsidiary, First-Citizens Bank & Trust Company ("First Citizens Bank").
-
Hut 8 Announces US$65 Million Amended and Restated Credit Facility with Coinbase
January 16, 2024Hut 8 Corp. (Nasdaq | TSX: HUT) (“Hut 8” or the “Company”), one of North America’s largest, innovation-focused digital asset mining pioneers, and high performance computing infrastructure provider, announced today that, together with its subsidiary, Hut 8 Mining Corp. (the “Borrower”), it has entered into an amendment and restatement of its credit facility
-
MPearlRock Acquires nutpods, a Popular and Rapidly Growing Plant-Based Creamer Company
January 16, 2024MPearlRock today announced the acquisition of nutpods, a leading brand in the better-for-you, non-dairy coffee creamer category. MPearlRock is a partnership between PearlRock Partners and MidOcean Partners, a premier New York-based alternative asset manager specializing in middle market private equity and alternative credit investments, specifically focused on identifying and backing high-growth, emerging consumer packaged goods (“CPG”) brands. Terms of the transaction were not disclosed.
-
NMEF Announces Promotions and Retirement of Joe Littier
January 16, 2024North Mill Equipment Finance LLC (“NMEF”), a leading independent commercial equipment lender headquartered in Norwalk, Connecticut, announced today the promotion of four employees representing several departments across the organization.
-
Iron Horse Credit Provides a $4 Million Inventory Line of Credit to a Fleet Parts Manufacturer
January 16, 2024Iron Horse Credit (“IHC”), a leading inventory lender, is pleased to announce the closing of a $4,000,000 stand-alone inventory revolving line of credit to a fleet parts manufacturer, sister company to a forging manufacturer currently being financed by IHC.
-
Mitsubishi HC Capital Canada Signs Partnership with Global OEM to Provide FMV leasing
January 16, 2024Mitsubishi HC Capital Canada, a subsidiary of Mitsubishi HC Capital America, announces it has signed a fair market value (FMV) lease program for a global OEM in the material handling industry.
-
Jefferies and SMBC Expand and Strengthen Strategic Alliance, Broadening Joint Business Efforts Across EMEA
January 16, 2024-Jefferies Financial Group, Inc. (NYSE: JEF) (“Jefferies”) and Sumitomo Mitsui Financial Group, Inc. (NYSE: SMFG) (“SMFG”), Sumitomo Mitsui Banking Corporation (“SMBC”), and other group companies (collectively, “SMBC Group”) announced today that they have signed a memorandum of understanding to further expand their global strategic alliance to now include enhanced collaboration across Europe, the Middle East and Africa (“EMEA”) on future corporate and investment banking business opportunities.
-
Black Press Announces Corporate Restructuring and Sale Transaction
January 16, 2024The Initial Order provides for, among other things, a stay of proceedings in favour of the Company, the approval of debtor-in-possession financing ("DIP Financing") to be provided by Canso Investment Counsel Ltd ("Canso"), and the appointment of KSV Restructuring Inc. as monitor of the Company (in such capacity, the "Monitor"). The Initial Order also extends the stay of proceedings to certain subsidiaries of the Company that are not petitioners in the CCAA Proceedings.
-
Cooper Wage Joins First Business Bank As Vice President – Commercial Banking
January 16, 2024First Business Bank is pleased to welcome Cooper Wage to its Southeast Wisconsin office as Vice President – Commercial Banking.
-
Huntington Business Credit Closes $20 Million Credit Facility with Energy Alloys Global Solutions Americas, LLC
January 16, 2024Huntington Business Credit announced it closed a $20,000,000 new credit facility with Energy Alloys Global Solutions Americas, LLC on December 8, 2023. Proceeds of the facility were used to refinance existing debt and provide ongoing working capital financing.
-
Legacy Corporate Lending Closes 2023 with Four New ABL Investments
January 16, 2024Legacy Corporate Lending, LLC (“Legacy”), an independent asset-based lending (ABL) company focused on serving the needs of middle market companies across North America, today announced the closing of a robust slate of asset-based lending transactions during the second half of 2023.
-
A&G Plans to Offer Eight Additional Rite Aid Store Leases and Three New Fee-Owned Properties
January 16, 2024A&G Real Estate Partners, in its capacity as real estate advisor to Rite Aid Corporation (“Rite Aid” or the “Company”), today announced plans to market for sale an additional tranche of neighborhood pharmacy leases and fee-owned properties, pending approval by the U.S. Bankruptcy Court for the District of New Jersey.
-
Uniform Manufacturer Secures $12MM in ABL Funding from eCapital
January 16, 2024eCapital Corp. (“eCapital” or “the Company”), a leading technology-enabled provider of financing to small and medium-sized businesses (SMBs) across North America and the U.K., announces the recent funding of a $12MM asset-based lending facility tailored to support a US-based manufacturing company experiencing financial stress.
-
Austin Financial Services Provides $15MM ABL Facility to a Poultry Processor & Distributor
January 16, 2024Austin Financial Services, Inc. (AFS) is pleased to announce the closing of a $15MM ABL facility, comprised of an AR and Inventory revolver to a Custom Poultry Processor & Distributor. The Company was seeking a lending partner who could provide greater flexibility than its current bank lender, while also understanding the unique challenges inherent to its business and their industry.
-
BizCap Further Strengthens Financial Expertise, Welcomes Jeffrey K. Scott as Managing Director
January 16, 2024BizCap®, a commercial finance firm established in 2002, is thrilled to welcome Jeffrey K. Scott as Managing Director, based in Los Angeles. With an illustrious career spanning three decades in banking, finance, and advisory roles at esteemed institutions, Jeff brings unparalleled expertise and strategic vision to the BizCap team.
-
Sallyport Commercial Finance Provides $500,000 in Financing for StartUp to Accelerate Growth
January 16, 2024Sallyport Commercial Finance is delighted to announce the first funding for 2024 - $500,000 in financing for a chemicals importer experiencing a common challenge for newer businesses. With no payment terms from their suppliers and extended payment terms from their customers, the client had a bottleneck in working capital preventing them fulfilling orders.
-
Culain Capital Funding Closes $250,000 for Ohio-Based Artisan Food Company
January 16, 2024More and more businesses in need of fast, flexible working capital solutions beyond typical bank lending are turning to Culain Capital Funding. The latest is an Ohio-based food company, which recently received a $250,000 purchase order financing and accounts receivable factoring facility through Culain.
-
Momnt and Saluda Grade Joint Venture Closes $200 Million Warehouse Facility from Macquarie Group
January 16, 2024Momnt, a leading fintech company specializing in real-time lending and payment solutions for businesses, and Saluda Grade, a synergistic and vertically integrated investment platform investing in emerging asset classes within the U.S. real estate sector, have closed an asset-backed revolving warehouse facility of up to $200 million from Macquarie Group (“Macquarie”).
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