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SFNet Member Spotlight: Bay View Funding
November 10, 2023Since 1985, Bay View Funding has been providing reliable and quality accounts receivable financing services to businesses across America. We are committed to understanding and servicing our clients' accounts receivable financing needs quickly, professionally, and with the least amount of hassle.
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Crown Crest Leasing Business Undergoes Financial Restructuring to Improve Financial Position amidst a Significant Rising Interest Rate Environment
November 10, 2023- Proceedings were commenced today in respect of Crown Crest Capital Management Corp. and certain of its affiliates (the "Company") under the Companies' Creditors Arrangement Act (CCAA). This is a court-supervised process that will allow for a financial and operational restructuring of the Company. This process is not a bankruptcy or liquidation of the Company.
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Will JOANN Facing Bankruptcy Be the End for the Retailer?
November 10, 2023In recent years, consumers have had to face the realization that the retail stores they’ve grown to know and count on can disappear overnight. Store closures of this kind have been happening for decades, and now JOANN Inc., the fabric and craft store, might be the next retailer facing extinction.
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Eclipse Business Capital Provides $100MM ABL Credit Facility to Specialty Chemical Manufacturer
November 10, 2023Eclipse Business Capital LLC (“EBC”) announced that it has provided a $100 million senior secured ABL credit facility to a specialty chemical manufacturer.
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Alvarez & Marsal's Disputes and Investigations Practice Augments Experience With Two New Managing Directors
November 10, 2023Leading global professional services firm Alvarez & Marsal (A&M) announced the appointments of Joe Shepley and Michael Sugrue as Managing Directors with its Disputes and Investigations practice. Mr. Shepley’s and Mr. Sugrue’s hiring furthers A&M’s ability to address the market’s growing data privacy and eDiscovery concerns globally.
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Ares Capital Corporation Appoints Scott Lem as Chief Financial Officer
November 10, 2023Ares Capital Corporation (“Ares Capital”) (NASDAQ: ARCC) announced today that Ares Capital’s Chief Accounting Officer, Vice President and Treasurer, Scott Lem, has been appointed as its new Chief Financial Officer, effective February 15, 2024. Mr. Lem succeeds Penni Roll, who plans to step down as Ares Capital’s Chief Financial Officer, effective the same date.
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Grupo Aeroportuario del Pacifico Announces the Drawdown of Ps. 1.5 Billion From a Credit Facility
November 10, 2023Grupo Aeroportuario del Pacífico, S.A.B. de C.V., (NYSE: PAC; BMV: GAP) (“the Company” or “GAP”) announces that today made a drawdown of Ps. 1.5 billion from a credit facility with Banco Santander México, S.A., at a 12-month term. Interest will be payable monthly at a variable rate of TIIE-28 plus 38 basis points, and principal payment due upon maturity, without fees.
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Kennedy Lewis Investment Management Raises $4.1 Billion for its Third Opportunistic Credit Fund
November 10, 2023Kennedy Lewis Investment Management LLC ("Kennedy Lewis"), a leading alternative credit manager, announced that it has closed on $4.1 billion for Kennedy Lewis Capital Partners Master Fund III LP and its associated parallel and co-investment vehicles (together, "Fund III"). Investors in Fund III include a diverse range of pensions, insurers, sovereign wealth funds, foundations and endowments from the U.S., Europe and the Middle East.
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Matrix Announces the Successful Sale of Coborn’s, Inc.’s Holiday Franchised Fuel and Convenience Stores
November 10, 2023Matrix Capital Markets Group, Inc. (“Matrix”), a leading, independent investment bank, announces that it has advised Coborn’s, Inc. (“Coborn’s” or the “Company”) on the sale of its 14 Holiday franchised fuel and convenience stores and one developmental site to Holiday Stationstores, LLC.
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Associated Bank Executing Next Phase of Strategic Plan
November 10, 2023Associated Banc-Corp (NYSE: ASB) today announced plans for the next phase of the Company's people-led, digitally enabled strategic plan. These plans include a series of investments in people, products and technology intended to grow and remix the loan portfolio, accelerate core customer deposit growth, and deliver a better banking experience for customers.
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Churchill Bolsters Senior Lending Origination Team with Principals Paul Sadlowski and Pranai Cheroo
November 10, 2023Churchill Asset Management (“Churchill”), an investment-specialist affiliate of Nuveen, today announced that Paul Sadlowski and Pranai Cheroo have joined the firm as Principals on the senior lending origination team. Both will report to Kevin Meyer, Managing Director, Head of Origination, Senior Lending.
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Opportunities Emerge in Asset-based Credit Market for Alternative Lenders
November 9, 2023Many regional lenders are undergoing strategic reviews as they decide which assets to offload. They might sell floating-rate portfolios with short maturities or engage in capital relief transactions whereby banks seek to reduce their "risk-weighted assets'' by transferring credit risk to another party. Another option for banks is to divest noncore businesses.
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Armstrong Teasdale Earns 2023 USFN Award of Excellence
November 9, 2023Armstrong Teasdale announces that USFN, a national trade association representing America’s leading mortgage banking and servicing professionals, has named the firm among its 2023 Award of Excellence recipients.
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Versana Expands Leadership Team, Hires Christine Scaffidi as Head of Product and Christopher Fonte as Head of Sales
November 9, 2023Versana today announced that industry veterans Christine Scaffidi and Christopher Fonte have joined the company as Head of Product and Head of Sales, respectively, reporting directly to Cynthia Sachs, Founding CEO. Each brings decades of valuable banking, data and technology experience, underscoring Versana's continuing drive to modernize the $7 trillion corporate loan market.
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Arevon Completes Financing on Nation's First Utility-Scale Solar Peaker Project Using the IRA's Transferability Provision
November 9, 2023Arevon Energy, Inc. today announced it has closed financing on the Vikings solar-plus-storage project with a combination of debt financing and tax credit transfer. Arevon secured a commitment with J.P. Morgan to purchase $191 million of investment tax credits and production tax credits, among the nation's first transactions announced to date that leverage the Inflation Reduction Act's transferability provision.
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Anagram Enters Into "Stalking Horse" Agreement to Sell Business and Files for Chapter 11 to Facilitate Sale
November 9, 2023Anagram International ("Anagram" or the "Company"), the world's leading foil balloon manufacturer, has moved to strengthen its financial position and capitalize on growth opportunities as it continues to provide consumers with fun and inspiring foil balloon creations.
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Aypa Power Secures $550 Million Portfolio Financing for Borden County and Cald Battery Storage Projects
November 9, 2023Aypa Power ("Aypa"), a Blackstone portfolio company and a leading independent power producer (IPP) specializing in the development, construction and operations of utility-scale energy storage and hybrid renewable energy projects, has successfully closed a $550 million portfolio debt and tax equity financing, with First Citizens Bank & Trust Company, Nomura Securities International, Inc., National Bank of Canada and MUFG Bank, LTD. serving as lenders, and U.S. Bancorp Impact Finance as the portfolio's tax equity investor.
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Craig Hirson Named Commercial Banking Market Executive for Greater Los Angeles and Orange County at Western Alliance Bank
November 9, 2023Western Alliance Bank today announced that Craig Hirson has been appointed as the organization’s Commercial Banking Market Executive for Greater Los Angeles and Orange County.
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Access Capital, Inc. Announces John Belling’s Promotion to EVP, Chief Credit Officer
November 8, 2023Access Capital continues to build its organization to support growth and expansion with the well-deserved promotion of John Belling to Executive Vice President (EVP) and Chief Credit Officer.
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Raphael Torres is Elevated to EVP/Head of Business Development at Access Capital, Inc.
November 8, 2023Raphael’s journey with Access Capital began less than a year ago, and his immediate and substantial impact on the company’s accelerated growth has been significant.
-
SFNet Member Spotlight: Bay View Funding
November 10, 2023Since 1985, Bay View Funding has been providing reliable and quality accounts receivable financing services to businesses across America. We are committed to understanding and servicing our clients' accounts receivable financing needs quickly, professionally, and with the least amount of hassle.
-
Crown Crest Leasing Business Undergoes Financial Restructuring to Improve Financial Position amidst a Significant Rising Interest Rate Environment
November 10, 2023- Proceedings were commenced today in respect of Crown Crest Capital Management Corp. and certain of its affiliates (the "Company") under the Companies' Creditors Arrangement Act (CCAA). This is a court-supervised process that will allow for a financial and operational restructuring of the Company. This process is not a bankruptcy or liquidation of the Company.
-
Will JOANN Facing Bankruptcy Be the End for the Retailer?
November 10, 2023In recent years, consumers have had to face the realization that the retail stores they’ve grown to know and count on can disappear overnight. Store closures of this kind have been happening for decades, and now JOANN Inc., the fabric and craft store, might be the next retailer facing extinction.
-
Eclipse Business Capital Provides $100MM ABL Credit Facility to Specialty Chemical Manufacturer
November 10, 2023Eclipse Business Capital LLC (“EBC”) announced that it has provided a $100 million senior secured ABL credit facility to a specialty chemical manufacturer.
-
Alvarez & Marsal's Disputes and Investigations Practice Augments Experience With Two New Managing Directors
November 10, 2023Leading global professional services firm Alvarez & Marsal (A&M) announced the appointments of Joe Shepley and Michael Sugrue as Managing Directors with its Disputes and Investigations practice. Mr. Shepley’s and Mr. Sugrue’s hiring furthers A&M’s ability to address the market’s growing data privacy and eDiscovery concerns globally.
-
Ares Capital Corporation Appoints Scott Lem as Chief Financial Officer
November 10, 2023Ares Capital Corporation (“Ares Capital”) (NASDAQ: ARCC) announced today that Ares Capital’s Chief Accounting Officer, Vice President and Treasurer, Scott Lem, has been appointed as its new Chief Financial Officer, effective February 15, 2024. Mr. Lem succeeds Penni Roll, who plans to step down as Ares Capital’s Chief Financial Officer, effective the same date.
-
Grupo Aeroportuario del Pacifico Announces the Drawdown of Ps. 1.5 Billion From a Credit Facility
November 10, 2023Grupo Aeroportuario del Pacífico, S.A.B. de C.V., (NYSE: PAC; BMV: GAP) (“the Company” or “GAP”) announces that today made a drawdown of Ps. 1.5 billion from a credit facility with Banco Santander México, S.A., at a 12-month term. Interest will be payable monthly at a variable rate of TIIE-28 plus 38 basis points, and principal payment due upon maturity, without fees.
-
Kennedy Lewis Investment Management Raises $4.1 Billion for its Third Opportunistic Credit Fund
November 10, 2023Kennedy Lewis Investment Management LLC ("Kennedy Lewis"), a leading alternative credit manager, announced that it has closed on $4.1 billion for Kennedy Lewis Capital Partners Master Fund III LP and its associated parallel and co-investment vehicles (together, "Fund III"). Investors in Fund III include a diverse range of pensions, insurers, sovereign wealth funds, foundations and endowments from the U.S., Europe and the Middle East.
-
Matrix Announces the Successful Sale of Coborn’s, Inc.’s Holiday Franchised Fuel and Convenience Stores
November 10, 2023Matrix Capital Markets Group, Inc. (“Matrix”), a leading, independent investment bank, announces that it has advised Coborn’s, Inc. (“Coborn’s” or the “Company”) on the sale of its 14 Holiday franchised fuel and convenience stores and one developmental site to Holiday Stationstores, LLC.
-
Associated Bank Executing Next Phase of Strategic Plan
November 10, 2023Associated Banc-Corp (NYSE: ASB) today announced plans for the next phase of the Company's people-led, digitally enabled strategic plan. These plans include a series of investments in people, products and technology intended to grow and remix the loan portfolio, accelerate core customer deposit growth, and deliver a better banking experience for customers.
-
Churchill Bolsters Senior Lending Origination Team with Principals Paul Sadlowski and Pranai Cheroo
November 10, 2023Churchill Asset Management (“Churchill”), an investment-specialist affiliate of Nuveen, today announced that Paul Sadlowski and Pranai Cheroo have joined the firm as Principals on the senior lending origination team. Both will report to Kevin Meyer, Managing Director, Head of Origination, Senior Lending.
-
Opportunities Emerge in Asset-based Credit Market for Alternative Lenders
November 9, 2023Many regional lenders are undergoing strategic reviews as they decide which assets to offload. They might sell floating-rate portfolios with short maturities or engage in capital relief transactions whereby banks seek to reduce their "risk-weighted assets'' by transferring credit risk to another party. Another option for banks is to divest noncore businesses.
-
Armstrong Teasdale Earns 2023 USFN Award of Excellence
November 9, 2023Armstrong Teasdale announces that USFN, a national trade association representing America’s leading mortgage banking and servicing professionals, has named the firm among its 2023 Award of Excellence recipients.
-
Versana Expands Leadership Team, Hires Christine Scaffidi as Head of Product and Christopher Fonte as Head of Sales
November 9, 2023Versana today announced that industry veterans Christine Scaffidi and Christopher Fonte have joined the company as Head of Product and Head of Sales, respectively, reporting directly to Cynthia Sachs, Founding CEO. Each brings decades of valuable banking, data and technology experience, underscoring Versana's continuing drive to modernize the $7 trillion corporate loan market.
-
Arevon Completes Financing on Nation's First Utility-Scale Solar Peaker Project Using the IRA's Transferability Provision
November 9, 2023Arevon Energy, Inc. today announced it has closed financing on the Vikings solar-plus-storage project with a combination of debt financing and tax credit transfer. Arevon secured a commitment with J.P. Morgan to purchase $191 million of investment tax credits and production tax credits, among the nation's first transactions announced to date that leverage the Inflation Reduction Act's transferability provision.
-
Anagram Enters Into "Stalking Horse" Agreement to Sell Business and Files for Chapter 11 to Facilitate Sale
November 9, 2023Anagram International ("Anagram" or the "Company"), the world's leading foil balloon manufacturer, has moved to strengthen its financial position and capitalize on growth opportunities as it continues to provide consumers with fun and inspiring foil balloon creations.
-
Aypa Power Secures $550 Million Portfolio Financing for Borden County and Cald Battery Storage Projects
November 9, 2023Aypa Power ("Aypa"), a Blackstone portfolio company and a leading independent power producer (IPP) specializing in the development, construction and operations of utility-scale energy storage and hybrid renewable energy projects, has successfully closed a $550 million portfolio debt and tax equity financing, with First Citizens Bank & Trust Company, Nomura Securities International, Inc., National Bank of Canada and MUFG Bank, LTD. serving as lenders, and U.S. Bancorp Impact Finance as the portfolio's tax equity investor.
-
Craig Hirson Named Commercial Banking Market Executive for Greater Los Angeles and Orange County at Western Alliance Bank
November 9, 2023Western Alliance Bank today announced that Craig Hirson has been appointed as the organization’s Commercial Banking Market Executive for Greater Los Angeles and Orange County.
-
Access Capital, Inc. Announces John Belling’s Promotion to EVP, Chief Credit Officer
November 8, 2023Access Capital continues to build its organization to support growth and expansion with the well-deserved promotion of John Belling to Executive Vice President (EVP) and Chief Credit Officer.
-
Raphael Torres is Elevated to EVP/Head of Business Development at Access Capital, Inc.
November 8, 2023Raphael’s journey with Access Capital began less than a year ago, and his immediate and substantial impact on the company’s accelerated growth has been significant.
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