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Monroe Capital Supports Protos Security’s Acquisition of Off Duty Services
October 6, 2021Monroe Capital LLC today announced an increase in its credit facility to support the acquisition of Off Duty Services (“ODS”) by Protos Security (“Protos”). Protos is an existing portfolio company of Southfield Capital. Headquartered in Katy, TX, ODS is a managed services provider of off-duty officers to its Fortune 500 clients and has the largest network of off-duty officers in the country.
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Orion Engineered Carbons Enters Into Sustainability-Linked Term Loan
October 6, 2021Orion Engineered Carbons (NYSE: OEC), a leading global supplier of specialty and high-performance carbon black, today announced the successful issuance of a $650 million-equivalent 7-year sustainability-linked Term Loan B, across Euros and U.S. Dollars. Goldman Sachs Bank USA was the Sole Bookrunner on the refinancing and served as the Sole ESG Structuring Advisor.
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Thoma Bravo Completes Acquisition of Stamps.com
October 6, 2021J.P. Morgan Securities LLC acted as exclusive financial advisor to Stamps.com and Proskauer Rose LLP acted as its legal counsel. Debt financing for the transaction was provided by Blackstone Credit, credit funds managed by Ares Management Corporation, PSP Investments Credit II USA LLC and Thoma Bravo Credit. Kirkland & Ellis LLP served as legal advisor for Thoma Bravo.
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LibreMax Capital Raises $225 Million for Structured Opportunities Fund
October 6, 2021LibreMax Capital, LLC (“LibreMax”), an asset management firm specializing in structured products and corporate credit, today announced the successful closing of its fifth drawdown vehicle, LibreMax Structured Opportunities Partners I, LP (the “Structured Opportunities Fund” or the “Fund”), with total capital commitments of approximately $225 million.
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Citizens Advises AcctTwo on its Acquisition by Baker Tilly
October 6, 2021Citizens M&A Advisory announced today that it served as the exclusive financial advisor to AcctTwo Shared Services, LLC, a provider of financial management software and solutions, on its acquisition by Baker Tilly US, LLP. AcctTwo delivers curated and tightly integrated technology stacks of third-party and proprietary, vertically focused software solutions that automate and enhance the customer’s finance and accounting function.
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Encina Lender Finance Provides $35mm Senior Credit Facility To Speed Leasing, A Portfolio Company Of 777 Partners
October 5, 2021Encina Lender Finance, LLC (“ELF”) announced today that it has provided a $35 million senior credit facility to Speed Leasing Company, LLC (“Speed Leasing”), a technology-enabled, specialty finance company engaged in originating and servicing used motorcycle leases to consumers.
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Marathon Digital Secures $100M Revolving Line of Credit With Silvergate Bank
October 5, 2021Marathon Digital Holdings (Nasdaq: MARA) has secured a $100 million revolving line of credit with Silvergate Bank in bitcoin and U.S. dollars. The loan, which was secured on Friday, will be used to fund the company’s bitcoin mining operations and to acquire new equipment.
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Secured Finance Network Elects New 2022 Leaders
October 5, 2021The Secured Finance Network (SFNet) has announced its new Executive and Management Committees for fiscal year 2022. These leaders guide the association, make policy decisions, confirm new members and provide thought leadership in advocacy and education on behalf of this international secured finance industry trade group.
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Allen & Overy Adds Partner Ilona Potiha, Further Strengthening U.S. Leveraged Finance Practice
October 5, 2021Allen & Overy today announced that Ilona Potiha has joined the firm as a partner in its U.S. Leveraged Finance practice, based in New York. Ilona joins from Davis Polk & Wardwell where she was most recently counsel, helping to develop the firm’s leveraged finance designation platform. Ilona brings almost a decade of experience representing lenders, financial institutions, and borrowers on a wide range of financing transactions, having begun her career advising on leveraged finance and private equity transactions at Ropes & Gray.
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Triumph Business Capital Appoints Rob Wright As Chief Product Officer
October 5, 2021Triumph Business Capital, a member of the Triumph Bancorp, Inc. (Nasdaq: TBK) group and provider of working capital financing solutions to small and medium-sized business, announced today the appointment of Rob Wright as chief product officer. Wright will report to chief executive officer, Geoff Brenner.
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Republic Provides a $5.50m Ledgered Line of Credit for a Gulf Region-Based Food Service Company
October 5, 2021Republic provided a $5m ledgered line of credit facility with a $500,000 purchase order call facility to a Gulf Region-based food service company. Republic’s funding will enable the company to buy more bulk inventory, hire additional staff and increase the number of school districts they can support each school year. Republic structured the ledgered factoring facility to allow for rapid growth without any financial covenants or field exam requirements.
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The Portico Home Furnishings and Products Brand is for Sale
October 5, 2021Hilco Streambank, a market leading advisory firm specializing in the sale of intellectual property assets and domain name brokerage, is marketing for sale the intellectual property of Portico, the beloved home furnishings, amenities and linens brand, including its trademarks, domain names and social media assets.
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Winston & Strawn LLP Represents Classic Cars, LP
October 5, 2021Winston & Strawn LLP represented Classic Cars, LP in its sale of Classic BMW to Sewell Automotive Companies, a private, family owned and operated dealership group. The transaction included a BMW dealership franchise and a MINI dealership franchise at the same location in Plano, Texas.
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J D Factors Announces Factoring Facilities
October 5, 2021J D Factors announced it provided the following factoring facilities: $500,000 to a transportation company in Quebec; $150,000 to a transportation company in Texas; $200,000 to a transportation company in New Jersey; $250,000 to a transportation company in Nova Scotia
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AFC Gamma Expands Senior Secured Credit Facility with Justice Cannabis Co. by $53.4 Million
October 5, 2021AFC Gamma, Inc. (NASDAQ:AFCG) (“AFC Gamma”) today announced that it has expanded its senior credit facility by $53.4 million, to $75.4 million in total commitments to Justice Cannabis Co., a Chicago-based multi-state operator with licenses in eight states. The credit facility expansion is designed to provide Justice Cannabis Co. with additional capital to purchase assets and develop its operations in New Jersey, further develop its Pennsylvania cultivation facility and refinance existing debt.
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Rubellite Energy Inc. Announces Closing of Rubellite Financings; and New Credit Facility; and Provides Operations Update
October 5, 2021Rubellite will also today enter into a first lien credit facility with a syndicate of lenders to establish a new $3 million revolving credit facility with an initial term to May 31, 2022 and which may be extended for a further twelve months to May 31, 2023 subject to lender approval.
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Oxford Finance Closes Credit Facility with Endodontic Practice Partners
October 5, 2021Oxford Finance LLC ("Oxford"), a leading specialty finance firm focused on healthcare services and life sciences companies worldwide, today announced the closing of a senior credit facility and revolving line of credit to Endodontic Practice Partners ("EPP" or "the Company"), a River Cities Capital ("River Cities") portfolio company.
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BrandShield Secures Credit Facility With Leumi Bank
October 5, 2021Brand protection technology company BrandShield Systems has entered into an agreement with Leumi Bank to provide a revolving monthly recurring revenue (MRR) credit line facility of up to NIS 8m (£1.8m), it announced on Monday. The AIM-traded firm said the two-year new debt facility, which could be extended upon request, included a "competitive" interest rate, and no associated requisite equity instruments or warrants.
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Renewable Energy Group Increases Line of Credit to $250 Million
October 5, 2021Renewable Energy Group, Inc. (NASDAQ: REGI) announced today that the company has extended and increased its line of credit with Wells Fargo Capital Finance, a division of Wells Fargo Bank, Fifth Third Bank, and Bank of America to a maximum of $250 million. This is a five-year extension through September 2026 of the company’s existing line of credit that was previously in the maximum amount of $150 million and would have matured at the end of September 2021.
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Cynergy Bank Announces ABL Offering To SMEs
October 5, 2021Cynergy Bank has announced that is has developed an asset-based lending (ABL) offering for SME businesses that want to scale up and grow, providing between £200,000 and £20m. The new team consists of Dave Golding, Ted Winterton, Dan Burton and Paul Fraser, all based in Manchester.
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Monroe Capital Supports Protos Security’s Acquisition of Off Duty Services
October 6, 2021Monroe Capital LLC today announced an increase in its credit facility to support the acquisition of Off Duty Services (“ODS”) by Protos Security (“Protos”). Protos is an existing portfolio company of Southfield Capital. Headquartered in Katy, TX, ODS is a managed services provider of off-duty officers to its Fortune 500 clients and has the largest network of off-duty officers in the country.
-
Orion Engineered Carbons Enters Into Sustainability-Linked Term Loan
October 6, 2021Orion Engineered Carbons (NYSE: OEC), a leading global supplier of specialty and high-performance carbon black, today announced the successful issuance of a $650 million-equivalent 7-year sustainability-linked Term Loan B, across Euros and U.S. Dollars. Goldman Sachs Bank USA was the Sole Bookrunner on the refinancing and served as the Sole ESG Structuring Advisor.
-
Thoma Bravo Completes Acquisition of Stamps.com
October 6, 2021J.P. Morgan Securities LLC acted as exclusive financial advisor to Stamps.com and Proskauer Rose LLP acted as its legal counsel. Debt financing for the transaction was provided by Blackstone Credit, credit funds managed by Ares Management Corporation, PSP Investments Credit II USA LLC and Thoma Bravo Credit. Kirkland & Ellis LLP served as legal advisor for Thoma Bravo.
-
LibreMax Capital Raises $225 Million for Structured Opportunities Fund
October 6, 2021LibreMax Capital, LLC (“LibreMax”), an asset management firm specializing in structured products and corporate credit, today announced the successful closing of its fifth drawdown vehicle, LibreMax Structured Opportunities Partners I, LP (the “Structured Opportunities Fund” or the “Fund”), with total capital commitments of approximately $225 million.
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Citizens Advises AcctTwo on its Acquisition by Baker Tilly
October 6, 2021Citizens M&A Advisory announced today that it served as the exclusive financial advisor to AcctTwo Shared Services, LLC, a provider of financial management software and solutions, on its acquisition by Baker Tilly US, LLP. AcctTwo delivers curated and tightly integrated technology stacks of third-party and proprietary, vertically focused software solutions that automate and enhance the customer’s finance and accounting function.
-
Encina Lender Finance Provides $35mm Senior Credit Facility To Speed Leasing, A Portfolio Company Of 777 Partners
October 5, 2021Encina Lender Finance, LLC (“ELF”) announced today that it has provided a $35 million senior credit facility to Speed Leasing Company, LLC (“Speed Leasing”), a technology-enabled, specialty finance company engaged in originating and servicing used motorcycle leases to consumers.
-
Marathon Digital Secures $100M Revolving Line of Credit With Silvergate Bank
October 5, 2021Marathon Digital Holdings (Nasdaq: MARA) has secured a $100 million revolving line of credit with Silvergate Bank in bitcoin and U.S. dollars. The loan, which was secured on Friday, will be used to fund the company’s bitcoin mining operations and to acquire new equipment.
-
Secured Finance Network Elects New 2022 Leaders
October 5, 2021The Secured Finance Network (SFNet) has announced its new Executive and Management Committees for fiscal year 2022. These leaders guide the association, make policy decisions, confirm new members and provide thought leadership in advocacy and education on behalf of this international secured finance industry trade group.
-
Allen & Overy Adds Partner Ilona Potiha, Further Strengthening U.S. Leveraged Finance Practice
October 5, 2021Allen & Overy today announced that Ilona Potiha has joined the firm as a partner in its U.S. Leveraged Finance practice, based in New York. Ilona joins from Davis Polk & Wardwell where she was most recently counsel, helping to develop the firm’s leveraged finance designation platform. Ilona brings almost a decade of experience representing lenders, financial institutions, and borrowers on a wide range of financing transactions, having begun her career advising on leveraged finance and private equity transactions at Ropes & Gray.
-
Triumph Business Capital Appoints Rob Wright As Chief Product Officer
October 5, 2021Triumph Business Capital, a member of the Triumph Bancorp, Inc. (Nasdaq: TBK) group and provider of working capital financing solutions to small and medium-sized business, announced today the appointment of Rob Wright as chief product officer. Wright will report to chief executive officer, Geoff Brenner.
-
Republic Provides a $5.50m Ledgered Line of Credit for a Gulf Region-Based Food Service Company
October 5, 2021Republic provided a $5m ledgered line of credit facility with a $500,000 purchase order call facility to a Gulf Region-based food service company. Republic’s funding will enable the company to buy more bulk inventory, hire additional staff and increase the number of school districts they can support each school year. Republic structured the ledgered factoring facility to allow for rapid growth without any financial covenants or field exam requirements.
-
The Portico Home Furnishings and Products Brand is for Sale
October 5, 2021Hilco Streambank, a market leading advisory firm specializing in the sale of intellectual property assets and domain name brokerage, is marketing for sale the intellectual property of Portico, the beloved home furnishings, amenities and linens brand, including its trademarks, domain names and social media assets.
-
Winston & Strawn LLP Represents Classic Cars, LP
October 5, 2021Winston & Strawn LLP represented Classic Cars, LP in its sale of Classic BMW to Sewell Automotive Companies, a private, family owned and operated dealership group. The transaction included a BMW dealership franchise and a MINI dealership franchise at the same location in Plano, Texas.
-
J D Factors Announces Factoring Facilities
October 5, 2021J D Factors announced it provided the following factoring facilities: $500,000 to a transportation company in Quebec; $150,000 to a transportation company in Texas; $200,000 to a transportation company in New Jersey; $250,000 to a transportation company in Nova Scotia
-
AFC Gamma Expands Senior Secured Credit Facility with Justice Cannabis Co. by $53.4 Million
October 5, 2021AFC Gamma, Inc. (NASDAQ:AFCG) (“AFC Gamma”) today announced that it has expanded its senior credit facility by $53.4 million, to $75.4 million in total commitments to Justice Cannabis Co., a Chicago-based multi-state operator with licenses in eight states. The credit facility expansion is designed to provide Justice Cannabis Co. with additional capital to purchase assets and develop its operations in New Jersey, further develop its Pennsylvania cultivation facility and refinance existing debt.
-
Rubellite Energy Inc. Announces Closing of Rubellite Financings; and New Credit Facility; and Provides Operations Update
October 5, 2021Rubellite will also today enter into a first lien credit facility with a syndicate of lenders to establish a new $3 million revolving credit facility with an initial term to May 31, 2022 and which may be extended for a further twelve months to May 31, 2023 subject to lender approval.
-
Oxford Finance Closes Credit Facility with Endodontic Practice Partners
October 5, 2021Oxford Finance LLC ("Oxford"), a leading specialty finance firm focused on healthcare services and life sciences companies worldwide, today announced the closing of a senior credit facility and revolving line of credit to Endodontic Practice Partners ("EPP" or "the Company"), a River Cities Capital ("River Cities") portfolio company.
-
BrandShield Secures Credit Facility With Leumi Bank
October 5, 2021Brand protection technology company BrandShield Systems has entered into an agreement with Leumi Bank to provide a revolving monthly recurring revenue (MRR) credit line facility of up to NIS 8m (£1.8m), it announced on Monday. The AIM-traded firm said the two-year new debt facility, which could be extended upon request, included a "competitive" interest rate, and no associated requisite equity instruments or warrants.
-
Renewable Energy Group Increases Line of Credit to $250 Million
October 5, 2021Renewable Energy Group, Inc. (NASDAQ: REGI) announced today that the company has extended and increased its line of credit with Wells Fargo Capital Finance, a division of Wells Fargo Bank, Fifth Third Bank, and Bank of America to a maximum of $250 million. This is a five-year extension through September 2026 of the company’s existing line of credit that was previously in the maximum amount of $150 million and would have matured at the end of September 2021.
-
Cynergy Bank Announces ABL Offering To SMEs
October 5, 2021Cynergy Bank has announced that is has developed an asset-based lending (ABL) offering for SME businesses that want to scale up and grow, providing between £200,000 and £20m. The new team consists of Dave Golding, Ted Winterton, Dan Burton and Paul Fraser, all based in Manchester.
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