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Brean Capital Closes Corporate Note Financing for Luxury Lease Partners
June 27, 2023Luxury Lease Partners (“LLP”), a leading automotive leasing company specializing in top of the line luxury and exotic cars, announced the successful closing of a senior corporate notes financing. The transaction was assigned a BBB rating by a nationally recognized statistical ratings organization (NRSRO). The funds from the transaction will be used to support the Company’s growth initiatives and strengthen its balance sheet.
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Partner David Sweeney joins Clifford Chance in the firm’s new Houston Office
June 27, 2023Clifford Chance announces today that partner David H. Sweeney has joined its new office in Houston. He joins Jonathan Bobinger, Jonathan Castelan, Trevor Lavelle, Enoch Varner and Alexandra L. Wilde as part of the seven new partners in Houston, along with Devika Kornbacher, Alex Leff and Tony Giustini who are relocating to support the expansion.
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Todd Witmer Joins Mitsubishi HC Capital America as Senior Origination Leader, ABL
June 26, 2023Mitsubishi HC Capital America, the largest non-bank, non-captive finance provider in North America, is pleased to announce that Todd Witmer has joined the company as Senior Origination Leader, Asset-based Lending.
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Hut 8 Announces US$50 Million Credit Facility
June 26, 2023Hut 8 Mining Corp. (Nasdaq: HUT) (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 Holdings Inc. (the "Borrower"), it has entered into a US$50 million credit facility (the "Credit Facility") with Coinbase Credit, Inc., as lender. The loan proceeds will be used for general corporate purposes.
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BTIG Investment Banking Adds Jay Magee to Financial Institutions Group
June 26, 2023BTIG announced today that Jay Magee has joined the firm as a Managing Director within Investment Banking’s Financial Institutions Group. Mr. Magee will support the firm’s efforts to deliver a complete set of advisory and capital solutions to BTIG’s corporate, institutional and financial sponsor clients globally.
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Helix Energy Solutions Announces Amendment to its ABL Facility
June 26, 2023Helix Energy Solutions Group, Inc. (“Helix”) (NYSE: HLX) announced today that it has entered into an amendment of its existing asset-based revolving credit facility (“ABL Facility”), under which among other changes the borrowing base and commitments of the lenders thereunder have been increased from $100 million to $120 million. Bank of America, N.A. continues to serve as Administrative Agent for the ABL Facility.
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GoldenTree Announces Closing of $493 Million CLO Under GLM Strategy
June 26, 2023GoldenTree Loan Management II (“GLM II”) and its affiliated investment manager GoldenTree Asset Management LP (along with other affiliated investment managers “GoldenTree”), announced the closing of a $493 million collateralized loan obligation (“CLO”) to be managed by GLM II. With the closing of this CLO, GoldenTree Loan Management US CLO 17 (“GLM US CLO 17”), GoldenTree has issued 23 CLOs totaling approximately $13 billion under its GLM CLO strategy.
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HSBC Leads $125 Million Refinancing Deal for Design Group
June 26, 2023HSBC Group has announced that it led a $125 million refinancing deal for IG Design Group plc (Design Group), one of the world’s leading designers, innovators and manufacturers of gift packaging, celebrations, craft and creative play, stationery, gifting, and related product categories.
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TIAA Bank to Become EverBank, a Brand Built on Legacy, Partnership and Forward-Looking Confidence
June 26, 2023Celebrating a fresh start built on a legacy of decades of strong performance and innovative client service, TIAA Bank announced that it will become EverBank.
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Oaktree Closes First Life Sciences Fund at $2.3B
June 26, 2023Oaktree Capital Management has raised $2.3 billion for its oversubscribed first dedicated life sciences fund. The company said the fund will look to provide capital solutions to companies across the life sciences sector globally, with a focus on “high-growth subsectors such as biopharma and medical devices”.
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First Citizens Bank Provides $10 Million in Financing to Nordic Hamburg
June 26, 2023First Citizens Bank today announced that its Maritime Finance group, part of the CIT division, arranged to provide Nordic Handysize IV AS, a subsidiary of Nordic Hamburg, $10 million to finance two dry bulk ships.
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Credit Acceptance Announces Extension of Revolving Secured Line of Credit Facility
June 26, 2023Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) announced today that we have extended the maturity of our revolving secured line of credit facility with a commercial bank syndicate from June 22, 2025 to June 22, 2026.
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Vince Holding Corp. Successfully Completes Refinancing of ABL Credit Facility
June 26, 2023Vince Holding Corp. (NYSE: VNCE) (“VNCE” or the “Company”), a global contemporary retailer, today announced that it has entered into a new five-year credit agreement for an $85 million senior secured asset-based revolving credit facility (“ABL Credit Facility”) expected to mature in June 2028. The new ABL Credit Facility was entered into with Bank of America, N.A acting as administrative agent and replaces the Company's previous $70 million senior secured asset-based revolving credit facility.
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Liberty Defense Announces Factoring Agreement to Support Improved Working Capital Credit Facility up to $10M
June 26, 2023Liberty Defense Holdings Ltd., a leading technology provider of AI-based next generation detection solutions for concealed weapons and threats, announces it has finalized an accounts receivable-based factoring agreement with a well established financial firm that will advance capital to the Company.
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BHI International Commercial and Industrial Team Arranges $40 Million Financing For A Premier Global Insurance Provider
June 26, 2023BHI, a full-service commercial bank, announced that its International Commercial & Industrial Team has provided a $40 million credit facility for the issuance of standby letters of credit to a premier global insurance company. The facility, backed by the premier global insurance provider, will support the ongoing efforts of Doral Renewables LLC (“Doral Renewables”), to further develop its renewable energy pipeline in the US.
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Equipment Leasing and Finance Association’s Survey of Economic Activity: Monthly Leasing and Finance Index
June 26, 2023The Equipment Leasing and Finance Association’s (ELFA) Monthly Leasing and Finance Index (MLFI-25), which reports economic activity from 25 companies representing a cross section of the $1 trillion equipment finance sector, showed their overall new business volume for May was $9.5 billion, up 1 percent year-over-year from new business volume in May 2022. Volume was down 2 percent from $9.7 billion in April. Year-to-date, cumulative new business volume was up 0.9 percent compared to 2022.
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Ares Management Acquires $3.5 Billion Lender Finance Portfolio from Pacific Western Bank
June 26, 2023Ares Management Corporation (NYSE: ARES) (“Ares”), a leading global alternative investment manager, announced today that certain funds managed by its Alternative Credit strategy (“Alternative Credit”) have completed the acquisition of a $3.5 billion specialty finance loan portfolio (the “Portfolio”) from PacWest Bancorp (Nasdaq: PACW).
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Huntington Business Credit Provides $40 Million Credit Facility to Tex-Tube Company
June 26, 2023Huntington Business Credit announced it closed a $40,000,000 new credit facility with Tex-Tube Company on May 25, 2023. Proceeds of the facility were used to refinance existing debt and provide ongoing working capital financing.
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Caltius Structured Capital Fuels AspireHR's Growth with Significant Debt and Equity Investment
June 26, 2023Caltius Structured Capital, is pleased to announce a debt and equity investment in AspireHR, a Human Capital Management (HCM) implementation, software, and managed services firm. The strategic infusion of capital will bolster AspireHR's growth trajectory and allow it to strategically invest in new innovation.
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Republic First Bancorp, Inc. Enhances Senior Leadership Team with Appointment of Brian F. Doran as Executive Vice President and General Counsel
June 26, 2023Republic First Bancorp, Inc. (NASDAQ: FRBK) (the “Company”), the parent company of Republic First Bank d/b/a Republic Bank (the "Bank"), today announced the appointment of Brian F. Doran, Esq., as Executive Vice President and General Counsel, effective June 20, 2023. Mr. Doran has a distinguished background in the financial services industry that includes relevant legal and corporate governance roles at top institutions.
-
Brean Capital Closes Corporate Note Financing for Luxury Lease Partners
June 27, 2023Luxury Lease Partners (“LLP”), a leading automotive leasing company specializing in top of the line luxury and exotic cars, announced the successful closing of a senior corporate notes financing. The transaction was assigned a BBB rating by a nationally recognized statistical ratings organization (NRSRO). The funds from the transaction will be used to support the Company’s growth initiatives and strengthen its balance sheet.
-
Partner David Sweeney joins Clifford Chance in the firm’s new Houston Office
June 27, 2023Clifford Chance announces today that partner David H. Sweeney has joined its new office in Houston. He joins Jonathan Bobinger, Jonathan Castelan, Trevor Lavelle, Enoch Varner and Alexandra L. Wilde as part of the seven new partners in Houston, along with Devika Kornbacher, Alex Leff and Tony Giustini who are relocating to support the expansion.
-
Todd Witmer Joins Mitsubishi HC Capital America as Senior Origination Leader, ABL
June 26, 2023Mitsubishi HC Capital America, the largest non-bank, non-captive finance provider in North America, is pleased to announce that Todd Witmer has joined the company as Senior Origination Leader, Asset-based Lending.
-
Hut 8 Announces US$50 Million Credit Facility
June 26, 2023Hut 8 Mining Corp. (Nasdaq: HUT) (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 Holdings Inc. (the "Borrower"), it has entered into a US$50 million credit facility (the "Credit Facility") with Coinbase Credit, Inc., as lender. The loan proceeds will be used for general corporate purposes.
-
BTIG Investment Banking Adds Jay Magee to Financial Institutions Group
June 26, 2023BTIG announced today that Jay Magee has joined the firm as a Managing Director within Investment Banking’s Financial Institutions Group. Mr. Magee will support the firm’s efforts to deliver a complete set of advisory and capital solutions to BTIG’s corporate, institutional and financial sponsor clients globally.
-
Helix Energy Solutions Announces Amendment to its ABL Facility
June 26, 2023Helix Energy Solutions Group, Inc. (“Helix”) (NYSE: HLX) announced today that it has entered into an amendment of its existing asset-based revolving credit facility (“ABL Facility”), under which among other changes the borrowing base and commitments of the lenders thereunder have been increased from $100 million to $120 million. Bank of America, N.A. continues to serve as Administrative Agent for the ABL Facility.
-
GoldenTree Announces Closing of $493 Million CLO Under GLM Strategy
June 26, 2023GoldenTree Loan Management II (“GLM II”) and its affiliated investment manager GoldenTree Asset Management LP (along with other affiliated investment managers “GoldenTree”), announced the closing of a $493 million collateralized loan obligation (“CLO”) to be managed by GLM II. With the closing of this CLO, GoldenTree Loan Management US CLO 17 (“GLM US CLO 17”), GoldenTree has issued 23 CLOs totaling approximately $13 billion under its GLM CLO strategy.
-
HSBC Leads $125 Million Refinancing Deal for Design Group
June 26, 2023HSBC Group has announced that it led a $125 million refinancing deal for IG Design Group plc (Design Group), one of the world’s leading designers, innovators and manufacturers of gift packaging, celebrations, craft and creative play, stationery, gifting, and related product categories.
-
TIAA Bank to Become EverBank, a Brand Built on Legacy, Partnership and Forward-Looking Confidence
June 26, 2023Celebrating a fresh start built on a legacy of decades of strong performance and innovative client service, TIAA Bank announced that it will become EverBank.
-
Oaktree Closes First Life Sciences Fund at $2.3B
June 26, 2023Oaktree Capital Management has raised $2.3 billion for its oversubscribed first dedicated life sciences fund. The company said the fund will look to provide capital solutions to companies across the life sciences sector globally, with a focus on “high-growth subsectors such as biopharma and medical devices”.
-
First Citizens Bank Provides $10 Million in Financing to Nordic Hamburg
June 26, 2023First Citizens Bank today announced that its Maritime Finance group, part of the CIT division, arranged to provide Nordic Handysize IV AS, a subsidiary of Nordic Hamburg, $10 million to finance two dry bulk ships.
-
Credit Acceptance Announces Extension of Revolving Secured Line of Credit Facility
June 26, 2023Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) announced today that we have extended the maturity of our revolving secured line of credit facility with a commercial bank syndicate from June 22, 2025 to June 22, 2026.
-
Vince Holding Corp. Successfully Completes Refinancing of ABL Credit Facility
June 26, 2023Vince Holding Corp. (NYSE: VNCE) (“VNCE” or the “Company”), a global contemporary retailer, today announced that it has entered into a new five-year credit agreement for an $85 million senior secured asset-based revolving credit facility (“ABL Credit Facility”) expected to mature in June 2028. The new ABL Credit Facility was entered into with Bank of America, N.A acting as administrative agent and replaces the Company's previous $70 million senior secured asset-based revolving credit facility.
-
Liberty Defense Announces Factoring Agreement to Support Improved Working Capital Credit Facility up to $10M
June 26, 2023Liberty Defense Holdings Ltd., a leading technology provider of AI-based next generation detection solutions for concealed weapons and threats, announces it has finalized an accounts receivable-based factoring agreement with a well established financial firm that will advance capital to the Company.
-
BHI International Commercial and Industrial Team Arranges $40 Million Financing For A Premier Global Insurance Provider
June 26, 2023BHI, a full-service commercial bank, announced that its International Commercial & Industrial Team has provided a $40 million credit facility for the issuance of standby letters of credit to a premier global insurance company. The facility, backed by the premier global insurance provider, will support the ongoing efforts of Doral Renewables LLC (“Doral Renewables”), to further develop its renewable energy pipeline in the US.
-
Equipment Leasing and Finance Association’s Survey of Economic Activity: Monthly Leasing and Finance Index
June 26, 2023The Equipment Leasing and Finance Association’s (ELFA) Monthly Leasing and Finance Index (MLFI-25), which reports economic activity from 25 companies representing a cross section of the $1 trillion equipment finance sector, showed their overall new business volume for May was $9.5 billion, up 1 percent year-over-year from new business volume in May 2022. Volume was down 2 percent from $9.7 billion in April. Year-to-date, cumulative new business volume was up 0.9 percent compared to 2022.
-
Ares Management Acquires $3.5 Billion Lender Finance Portfolio from Pacific Western Bank
June 26, 2023Ares Management Corporation (NYSE: ARES) (“Ares”), a leading global alternative investment manager, announced today that certain funds managed by its Alternative Credit strategy (“Alternative Credit”) have completed the acquisition of a $3.5 billion specialty finance loan portfolio (the “Portfolio”) from PacWest Bancorp (Nasdaq: PACW).
-
Huntington Business Credit Provides $40 Million Credit Facility to Tex-Tube Company
June 26, 2023Huntington Business Credit announced it closed a $40,000,000 new credit facility with Tex-Tube Company on May 25, 2023. Proceeds of the facility were used to refinance existing debt and provide ongoing working capital financing.
-
Caltius Structured Capital Fuels AspireHR's Growth with Significant Debt and Equity Investment
June 26, 2023Caltius Structured Capital, is pleased to announce a debt and equity investment in AspireHR, a Human Capital Management (HCM) implementation, software, and managed services firm. The strategic infusion of capital will bolster AspireHR's growth trajectory and allow it to strategically invest in new innovation.
-
Republic First Bancorp, Inc. Enhances Senior Leadership Team with Appointment of Brian F. Doran as Executive Vice President and General Counsel
June 26, 2023Republic First Bancorp, Inc. (NASDAQ: FRBK) (the “Company”), the parent company of Republic First Bank d/b/a Republic Bank (the "Bank"), today announced the appointment of Brian F. Doran, Esq., as Executive Vice President and General Counsel, effective June 20, 2023. Mr. Doran has a distinguished background in the financial services industry that includes relevant legal and corporate governance roles at top institutions.
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