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J D Factors Announces Factoring Facilities
March 29, 2021J D Factors announced it provided the following factoring facilities: $100,000 to a transportation company in Ontario; $100,000 to a transportation company in California; $75,000 to a transportation company in Nova Scotia; $200,000 to a transportation company in New Jersey.
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Unity Bank Names Industry Veteran George Boyan Chief Financial Officer
March 29, 2021Banking industry veteran George Boyan has joined Unity Bank as Chief Financial Officer (CFO) bringing more than 20 years of financial services industry leadership experience to the community bank. Boyan is responsible for financial and accounting operations for Unity Bancorp, Inc. (NASDAQ: UNTY), the parent company of Unity Bank, which manages approximately $2 billion in assets and $1.6 billion in deposits.
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Faraday Future Announces it has Raised $100 Million in Debt Financing to Help Advance the Countdown to FF 91 Delivery, Following the Signing of the Merger Agreement with Property Solutions Acquisition Corp (PSAC)
March 29, 2021Funds managed by the Credit Group of Ares Management Corporation (“Ares”) provided an $85 million commitment to lead the recent financing round, with the remainder provided by funds managed by affiliates of Birch Lake Fund Management, LP (“Birch Lake”) and other lenders.
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Carpenter Technology Extends and Amends Credit Facility
March 29, 2021Carpenter Technology Corporation (NYSE: CRS) (the “Company”) today announced the successful completion of a $300 million syndicated credit facility (the “Credit Facility”) by amending and restating the Company’s existing Credit Agreement which had been set to expire on March 31, 2022. The Credit Facility extends the maturity to March 31, 2024. Bank of America, N.A. and JPMorgan Chase Bank, N.A. served as the Joint Lead Arrangers.
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Verra Mobility Announces Closing Of Senior Notes Offering And Refinancing Of Credit Facility
March 29, 2021Verra Mobility (NASDAQ: VRRM), a leading provider of smart mobility technology solutions, today announced that it has completed its offering of 5.5 percent $350 million Senior Unsecured Notes due 2029 (the "Notes") and refinanced its existing 2018 credit agreement (as amended, the "Credit Agreement") with a new $650 million first lien term loan bearing an interest rate of the London Interbank Offered Rate ("LIBOR") plus 3.25 percent, which matures in 2028.
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Acerus Announces Amendment to Credit Agreement
March 29, 2021Acerus Pharmaceuticals Corporation (“Acerus” or the “Company”) (TSX: ASP; OTCQB: ASPCF) today announced that it has entered into an amended agreement related to its existing credit facility with SWK Funding LLC (“SWK”), a subsidiary of SWK Holdings Corporation (Nasdaq: SWKH).
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Crescent European Specialty Lending Announces Financing for DMC Group - A Global Leading Platform of Needlecraft Brands
March 29, 2021Crescent Capital Group LP, a leading alternative asset management firm, announced today that its European Specialty Lending strategy has provided a unitranche facility to support the refinancing of DMC Group, a leading global platform of needlecraft brands and a portfolio company of Lion Capital. In addition, Crescent has provided an acquisition facility to further support strategic M&A. Terms of the financing were not disclosed.
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CapitalPlus Launches New Materials Financing Product
March 29, 2021CapitalPlus Construction Services, a leading provider of accounts receivable financing for the construction industry, has launched a new Materials Financing product to help contractors and subcontractors in all trades access mission-critical materials without tying up their capital.
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A&G To Auction Industrial Redevelopment Parcel in Hammond, Indiana
March 29, 2021A&G Real Estate Partners is now accepting bids for a 19.34-acre industrial parcel located approximately five miles from the Indiana/Illinois border and 25 miles from downtown Chicago. The bid deadline in the bankruptcy sale of the Hammond, Indiana, property is April 16.
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Cerebro Capital Partners With Stanford's Ken Singleton
March 29, 2021Cerebro Capital, a commercial loan marketplace platform, today announced a partnership with Ken Singleton, Adams Distinguished Professor of Management at the Graduate School of Business at Stanford University. Together, Cerebro and Singleton will study activity on the middle market and create analysis and content to help both borrowers and lenders better understand movements and drivers within the credit market.
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Slate Asset Management Announces $2.33 Billion Portfolio and Platform Acquisition from Annaly Capital Management, Inc.
March 29, 2021BMO Capital Markets is serving as financial advisor and Goodwin Procter LLP and McCarthy Tétrault LLP as legal advisors to Slate. Evercore is serving as financial advisor and Ropes & Gray LLP as legal advisor to Annaly.
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Vireo Health Closes First Tranche of Debt Financing with Green Ivy Capital
March 29, 2021Vireo Health International Inc., ("Vireo" or the "Company") (CNSX: VREO,OTCQX: VREOF), the leading physician-led, science-focused multi-state cannabis company, today announced that it has closed on the first tranche of the previously-announced senior secured, delayed draw term loan (the "Credit Facility") with Chicago Atlantic Group (the "agent"), an affiliate of Green Ivy Capital, and a group of lenders.
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MidCap Business Credit Provides $8 Million Credit Facility for Manufacturer of Precision Components and Assemblies
March 29, 2021MidCap Business Credit announced today they have closed on an $8,000,000 asset-based credit facility for a manufacturer of precision components and assemblies in the aerospace and defense industry.
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Moritt Hock & Hamroff Welcomes Scott K. Levine As Counsel
March 29, 2021The law firm of Moritt Hock & Hamroff has announced that Scott K. Levine has joined the firm as Counsel. Mr. Levine will continue his practice in the firm's Creditors' Rights, Restructuring & Bankruptcy and Secured Lending, Equipment & Transportation Finance practice groups. Prior to joining Moritt Hock & Hamroff, Mr. Levine served as the managing partner of Platzer, Swergold, Levine, Goldberg, Katz & Jaslow LLP in New York City.
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Helbiz Announces $15 Million Secured Term Loan Facility
March 25, 2021Helbiz Inc., a micro-mobility leader, which has entered into an agreement to merge with GreenVision Acquisition Corp. (Nasdaq: GRNV), today announced it has entered into a $15.0 million secured term loan facility with an institutional lender. The loan was funded in full on March 23, 2021.
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Angelo Gordon Bolsters Structured Credit Team With Senior Hires
March 25, 2021Nicholas Smith, former Head of Non-Agency Residential Mortgage Trading and Asset-Backed Securities Trading at Bank of America Securities, has joined the Firm as Managing Director to lead the Firm’s whole loan business and expand the team’s capability across multiple asset classes. Rodney Hutter, former Managing Director and Head of Originations in the Structured Lending Group at Waterfall Asset Management, has joined the Firm as Managing Director responsible for private credit origination.
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Drip Capital Closes $40M Committed Warehouse Credit Facility from East West Bancorp to Facilitate Trade Finance to Small Businesses
March 25, 2021Drip Capital, a leading Fintech provider of cross-border trade finance, and East-West Bank (EWB), announce a US$ 40M committed credit facility for the expansion of Drip's trade finance solutions to small and medium-sized businesses (SMBs). Drip Capital closes $40M Committed Warehouse Credit Facility from East West Bancorp to facilitate trade finance to small businesses.
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ING to Appoint Andrew Bester as Head of Wholesale Banking and Member of the Management Board Banking
March 25, 2021ING announced today that Andrew Bester will be appointed member of the Management Board Banking and head of Wholesale Banking. Andrew takes up his position on 6 April 2021, succeeding Isabel Fernandez, who stepped down effective 31 December 2020. Andrew Bester (British/South African) has broad and deep banking experience, managing and transforming wholesale, retail and SME banking businesses across different geographies and economic cycles.
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CIBC Innovation Banking Provides MayStreet with $10 Million in Growth Financing
March 25, 2021CIBC Innovation Banking is pleased to announce a $10 million credit facility for New York-based MayStreet Inc. (“MayStreet”), an industry-leading market data technology and content provider. The credit facility is available to help the rapidly growing fintech firm further scale its business. Founded in 2012, MayStreet offers market data technology that delivers high-quality global market data to enable data-driven decision-making.
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U.S. Bank Names Derek Martin St. Louis Market President
March 25, 2021U.S. Bank announced today that Derek Martin has been named St. Louis market president, succeeding Larry Otto, who retired on March 19, 2021. For 20 years, Martin has successfully managed a deep and diverse portfolio of middle-market companies, ranging from manufacturing and retail to distribution and transportation. With this new role, he will lead the Commercial Banking group in the St. Louis market and direct U.S. Bank initiatives across the region.
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J D Factors Announces Factoring Facilities
March 29, 2021J D Factors announced it provided the following factoring facilities: $100,000 to a transportation company in Ontario; $100,000 to a transportation company in California; $75,000 to a transportation company in Nova Scotia; $200,000 to a transportation company in New Jersey.
-
Unity Bank Names Industry Veteran George Boyan Chief Financial Officer
March 29, 2021Banking industry veteran George Boyan has joined Unity Bank as Chief Financial Officer (CFO) bringing more than 20 years of financial services industry leadership experience to the community bank. Boyan is responsible for financial and accounting operations for Unity Bancorp, Inc. (NASDAQ: UNTY), the parent company of Unity Bank, which manages approximately $2 billion in assets and $1.6 billion in deposits.
-
Faraday Future Announces it has Raised $100 Million in Debt Financing to Help Advance the Countdown to FF 91 Delivery, Following the Signing of the Merger Agreement with Property Solutions Acquisition Corp (PSAC)
March 29, 2021Funds managed by the Credit Group of Ares Management Corporation (“Ares”) provided an $85 million commitment to lead the recent financing round, with the remainder provided by funds managed by affiliates of Birch Lake Fund Management, LP (“Birch Lake”) and other lenders.
-
Carpenter Technology Extends and Amends Credit Facility
March 29, 2021Carpenter Technology Corporation (NYSE: CRS) (the “Company”) today announced the successful completion of a $300 million syndicated credit facility (the “Credit Facility”) by amending and restating the Company’s existing Credit Agreement which had been set to expire on March 31, 2022. The Credit Facility extends the maturity to March 31, 2024. Bank of America, N.A. and JPMorgan Chase Bank, N.A. served as the Joint Lead Arrangers.
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Verra Mobility Announces Closing Of Senior Notes Offering And Refinancing Of Credit Facility
March 29, 2021Verra Mobility (NASDAQ: VRRM), a leading provider of smart mobility technology solutions, today announced that it has completed its offering of 5.5 percent $350 million Senior Unsecured Notes due 2029 (the "Notes") and refinanced its existing 2018 credit agreement (as amended, the "Credit Agreement") with a new $650 million first lien term loan bearing an interest rate of the London Interbank Offered Rate ("LIBOR") plus 3.25 percent, which matures in 2028.
-
Acerus Announces Amendment to Credit Agreement
March 29, 2021Acerus Pharmaceuticals Corporation (“Acerus” or the “Company”) (TSX: ASP; OTCQB: ASPCF) today announced that it has entered into an amended agreement related to its existing credit facility with SWK Funding LLC (“SWK”), a subsidiary of SWK Holdings Corporation (Nasdaq: SWKH).
-
Crescent European Specialty Lending Announces Financing for DMC Group - A Global Leading Platform of Needlecraft Brands
March 29, 2021Crescent Capital Group LP, a leading alternative asset management firm, announced today that its European Specialty Lending strategy has provided a unitranche facility to support the refinancing of DMC Group, a leading global platform of needlecraft brands and a portfolio company of Lion Capital. In addition, Crescent has provided an acquisition facility to further support strategic M&A. Terms of the financing were not disclosed.
-
CapitalPlus Launches New Materials Financing Product
March 29, 2021CapitalPlus Construction Services, a leading provider of accounts receivable financing for the construction industry, has launched a new Materials Financing product to help contractors and subcontractors in all trades access mission-critical materials without tying up their capital.
-
A&G To Auction Industrial Redevelopment Parcel in Hammond, Indiana
March 29, 2021A&G Real Estate Partners is now accepting bids for a 19.34-acre industrial parcel located approximately five miles from the Indiana/Illinois border and 25 miles from downtown Chicago. The bid deadline in the bankruptcy sale of the Hammond, Indiana, property is April 16.
-
Cerebro Capital Partners With Stanford's Ken Singleton
March 29, 2021Cerebro Capital, a commercial loan marketplace platform, today announced a partnership with Ken Singleton, Adams Distinguished Professor of Management at the Graduate School of Business at Stanford University. Together, Cerebro and Singleton will study activity on the middle market and create analysis and content to help both borrowers and lenders better understand movements and drivers within the credit market.
-
Slate Asset Management Announces $2.33 Billion Portfolio and Platform Acquisition from Annaly Capital Management, Inc.
March 29, 2021BMO Capital Markets is serving as financial advisor and Goodwin Procter LLP and McCarthy Tétrault LLP as legal advisors to Slate. Evercore is serving as financial advisor and Ropes & Gray LLP as legal advisor to Annaly.
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Vireo Health Closes First Tranche of Debt Financing with Green Ivy Capital
March 29, 2021Vireo Health International Inc., ("Vireo" or the "Company") (CNSX: VREO,OTCQX: VREOF), the leading physician-led, science-focused multi-state cannabis company, today announced that it has closed on the first tranche of the previously-announced senior secured, delayed draw term loan (the "Credit Facility") with Chicago Atlantic Group (the "agent"), an affiliate of Green Ivy Capital, and a group of lenders.
-
MidCap Business Credit Provides $8 Million Credit Facility for Manufacturer of Precision Components and Assemblies
March 29, 2021MidCap Business Credit announced today they have closed on an $8,000,000 asset-based credit facility for a manufacturer of precision components and assemblies in the aerospace and defense industry.
-
Moritt Hock & Hamroff Welcomes Scott K. Levine As Counsel
March 29, 2021The law firm of Moritt Hock & Hamroff has announced that Scott K. Levine has joined the firm as Counsel. Mr. Levine will continue his practice in the firm's Creditors' Rights, Restructuring & Bankruptcy and Secured Lending, Equipment & Transportation Finance practice groups. Prior to joining Moritt Hock & Hamroff, Mr. Levine served as the managing partner of Platzer, Swergold, Levine, Goldberg, Katz & Jaslow LLP in New York City.
-
Helbiz Announces $15 Million Secured Term Loan Facility
March 25, 2021Helbiz Inc., a micro-mobility leader, which has entered into an agreement to merge with GreenVision Acquisition Corp. (Nasdaq: GRNV), today announced it has entered into a $15.0 million secured term loan facility with an institutional lender. The loan was funded in full on March 23, 2021.
-
Angelo Gordon Bolsters Structured Credit Team With Senior Hires
March 25, 2021Nicholas Smith, former Head of Non-Agency Residential Mortgage Trading and Asset-Backed Securities Trading at Bank of America Securities, has joined the Firm as Managing Director to lead the Firm’s whole loan business and expand the team’s capability across multiple asset classes. Rodney Hutter, former Managing Director and Head of Originations in the Structured Lending Group at Waterfall Asset Management, has joined the Firm as Managing Director responsible for private credit origination.
-
Drip Capital Closes $40M Committed Warehouse Credit Facility from East West Bancorp to Facilitate Trade Finance to Small Businesses
March 25, 2021Drip Capital, a leading Fintech provider of cross-border trade finance, and East-West Bank (EWB), announce a US$ 40M committed credit facility for the expansion of Drip's trade finance solutions to small and medium-sized businesses (SMBs). Drip Capital closes $40M Committed Warehouse Credit Facility from East West Bancorp to facilitate trade finance to small businesses.
-
ING to Appoint Andrew Bester as Head of Wholesale Banking and Member of the Management Board Banking
March 25, 2021ING announced today that Andrew Bester will be appointed member of the Management Board Banking and head of Wholesale Banking. Andrew takes up his position on 6 April 2021, succeeding Isabel Fernandez, who stepped down effective 31 December 2020. Andrew Bester (British/South African) has broad and deep banking experience, managing and transforming wholesale, retail and SME banking businesses across different geographies and economic cycles.
-
CIBC Innovation Banking Provides MayStreet with $10 Million in Growth Financing
March 25, 2021CIBC Innovation Banking is pleased to announce a $10 million credit facility for New York-based MayStreet Inc. (“MayStreet”), an industry-leading market data technology and content provider. The credit facility is available to help the rapidly growing fintech firm further scale its business. Founded in 2012, MayStreet offers market data technology that delivers high-quality global market data to enable data-driven decision-making.
-
U.S. Bank Names Derek Martin St. Louis Market President
March 25, 2021U.S. Bank announced today that Derek Martin has been named St. Louis market president, succeeding Larry Otto, who retired on March 19, 2021. For 20 years, Martin has successfully managed a deep and diverse portfolio of middle-market companies, ranging from manufacturing and retail to distribution and transportation. With this new role, he will lead the Commercial Banking group in the St. Louis market and direct U.S. Bank initiatives across the region.
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