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JPMorgan Names James Roddy to Run Corporate Client Banking
December 21, 2020JPMorgan Chase & Co. named James Roddy as global head of corporate client banking and specialized industries in its commercial banking unit. Roddy, previously co-head of diversified industries investment banking, will report to Doug Petno, chief executive officer of JPMorgan’s commercial bank. The commercial bank, JPMorgan’s smallest line of business by revenue, offers deal advice, treasury services and lending to companies that make up to about $2 billion in revenue. The change was announced in a memo to staff Wednesday and confirmed by a spokeswoman.
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Rosenthal & Rosenthal, Inc. Provides $2.4 Million Purchase Order Finance Facility for Florida-based Government Contractor
December 21, 2020Rosenthal & Rosenthal, Inc., the leading factoring, asset-based lending and purchase order financing firm in the U.S., today announced the completion of a recent purchase order finance facility to support the production financing requirements of a Florida-based minority-owned government contractor.
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Rubenstein Partners Announces Pennant Park Refinancing
December 21, 2020Rubenstein Partners, L.P., a vertically-integrated real estate investment adviser focused on value-added office opportunities (together with its affiliates, "Rubenstein"), has refinanced Pennant Park, a 6-building office park in Atlanta's Northwest submarket, with a $114 million loan facility provided by Nuveen Real Estate. This transaction comes after the substantial completion of Rubenstein's business plan for the property, which involved approximately $17 million of improvements aimed at transforming the property into a walkable Class-A urban office environment with immediate access to Truist Park, home of the Atlanta Braves, and a growing set of local amenities both on and off campus.
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Bank of Southern California Hires William (“Bill”) Sloan and Sam Kunianski to Grow Southern California Presence
December 21, 2020Bank of Southern California, N.A. (OTC Pink: BCAL), a community business bank headquartered in San Diego, announced today the addition of two tenured Commercial Banking executives to support the company’s strategic expansion efforts.
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Team, Inc. Announces Refinancing Of New Capital Structure
December 21, 2020Team, Inc. (NYSE: TISI) a global leading provider of integrated, digitally-enabled asset performance assurance and optimization solutions, today announced the signing of a new $250 million Senior Secured Term Loan due 2026 (the "Term Loan") led by Atlantic Park Strategic Capital Fund, L.P. ("Atlantic Park"). Atlantic Park acted as administrative agent. Concurrent with the signing of the Term Loan, TEAM executed a new $150 million Senior Secured ABL Credit Facility due 2024 (the "ABL Credit Facility") led by Citibank, N.A.
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Victoria Gold Closes US$200 Million Credit Facility To Refinance Project Debt
December 21, 2020Victoria Gold Corp. (TSX-VGCX) (“Victoria” or the “Company”) is pleased to announce that it has entered into a credit agreement with a syndicate of banks, comprised of Bank of Montreal, as Joint Bookrunner, Co-Lead Arranger and Administrative Agent, CIBC, as Joint Bookrunner and Co-Lead Arranger, and BNP Paribas, as Co-Lead Arranger in connection with a secured US$200 million debt facility (the “Loan Facility”). The Loan Facility is comprised of a US$100 million term loan (the “Term Facility”) and a US$100 million revolving facility (the “Revolving Credit Facility”).
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Michelle Moore Named Digital Platform Leader at Wells Fargo
December 21, 2020Wells Fargo & Company (NYSE: WFC) today announced that Michelle Moore will join the company as Digital Platform leader, effective Dec. 31, 2020. She will report to Ather Williams III, head of Strategy, Digital and Innovation, and will be based in Charlotte, North Carolina.
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CPS Announces Renewal of $100 Million Credit Facility
December 21, 2020Consumer Portfolio Services, Inc. (Nasdaq: CPSS) (“CPS” or the “Company”) today announced that on December 18, 2020 it renewed its two-year revolving credit agreement with Citibank, N.A. Loans under the renewed credit agreement will be secured by automobile receivables that CPS now holds, will originate directly, or will purchase from dealers in the future. CPS may borrow on a revolving basis through December 18, 2022, after which CPS will have the option to repay the outstanding loans in full or to allow them to amortize for a one-year period.
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Rent-A-Center Enters Into Definitive Agreement to Acquire Acima to Create Leading Virtual Lease-to-Own Platform, Accelerate Long-Term Growth
December 21, 2020Rent-A-Center has obtained $1.825 billion in debt financing commitments from J.P. Morgan Securities LLC, Credit Suisse and HSBC Securities (USA) Inc., in connection with the transaction, subject to the terms and conditions of the respective commitment letters. J.P. Morgan Securities LLC is serving as lead financial advisor; Credit Suisse is serving as an additional financial advisor and Sullivan & Cromwell LLP is serving as legal counsel to Rent-A-Center. FT Partners is serving as sole strategic and financial advisor and Wachtell, Lipton, Rosen & Katz is serving as legal counsel to Acima.
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Fifth Third Business Capital Arranges New Revolving Credit Facility for HB&G Building Products, Inc.
December 21, 2020Fifth Third Business Capital announced it has arranged a new revolving credit facility for HB&G Building Products, Inc. The Deal Team consisted of Ron Kerdasha, Senior Vice President, Business Development; Jeff Seiden, Senior Vice Presiden, Underwriting and Jeffrey Much, Vice President, Portfolio Management.
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Huntington Business Credit Announces Credit Facility with The Miller Company
December 21, 2020Huntington Business Credit announced it closed a new $15,000,000 credit facility with The Miller Company on December 15, 2020. Proceeds of the facility were used to support the acquisition by Deutsche Invest Capital Partners and to provide ongoing working capital growth financing.
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J D Factors Announces Factoring Facilities
December 21, 2020J D Factors announced it provided the following factoring facilities: $120,000 to a transportation company in Virginia; $300,000 to a transportation company in Alberta; $150,000 to a transportation company in Texas.
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NXCR and Westlake Financial Announce $400 Million Debt Facility and Strategic Partnership to Advance NXCR's Vehicle Subscription Platform
December 21, 2020NextCar Holding Company Inc. (NXCR), a fintech and insurtech vehicle subscription platform, and Westlake Financial (Westlake) have signed a letter of intent to secure a NXCR $400 million debt facility, and to enter into a strategic partnership. Westlake is one of the largest automotive lenders in the U.S. with nearly $12 billion in assets under management, and provides indirect financing through a network of over 20,000 new and used car dealerships throughout the U.S.
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QIAGEN Underlines and Innovates Its Commitment to Sustainability With a EUR 400mn Sustainability-linked Credit Facility
December 21, 2020QIAGEN N.V. (NYSE: QGEN; Frankfurt Prime Standard QIA) announced today that it has successfully concluded a syndicated revolving credit facility for EUR 400mn with an interest rate linked to the company’s environmental, social and governance (ESG) performance. The agreement makes QIAGEN the first provider of molecular diagnostics solutions with a sustainability component built into corporate borrowing. It underlines QIAGEN’s commitment to people and planet by creating financial incentives to further integrate sustainability throughout every part of its business.
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Capital Southwest Supports IntelliSite’s Acquisition of Broad Sky Networks
December 21, 2020Capital Southwest Corporation (“Capital Southwest”) (Nasdaq:CSWC), an internally managed business development company focused on providing flexible financing solutions to support the acquisition and growth of middle market businesses, announced today that it recently supported the acquisition of Broad Sky Networks, Inc. (“Broad Sky”) by IntelliSite Corporation (“IntelliSite”), a portfolio company of DFW Capital Partners (“DFW”). Concurrent with the acquisition, IntelliSite created a new international, technology-focused, holding company EPIC IO Technology (“EPIC IO”) comprised of Broad Sky and IntelliSite as independent subsidiaries.
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Audax Private Debt Provides Financing to Support Add-On Acquisitions and Refinancing for Metalmark Capital’s Portfolio Company, Innovetive Petcare
December 21, 2020Audax Private Debt announced that, as Agent & Sole Lead Arranger, it provided a Second Lien Credit Facility to support add-on acquisitions and a refinancing for Metalmark Capital’s portfolio company, Innovetive Petcare (the “Company” or “Innovetive”). Headquartered in Austin, TX, Innovetive Petcare is a leading acquirer and operator of specialty and general practice veterinary hospitals and clinics for companion animals. The company primarily operates in the south central and southeastern United States.
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Survey: 60% of Executives Will Continue to Let Employees Work Remotely Post-Pandemic
December 21, 2020While COVID-19 has meant tremendous economic hardship across all business sectors, executives widely feel employees have risen to the occasion regarding productivity as a result of much of the country utilizing a work-from-home ("WFH") model. Furthermore, most of these business leaders will continue to let their employees work remotely after widespread application of a coronavirus vaccine. Those are a pair of key findings from EisnerAmper LLP's executive survey, which gauged the outlook of business leaders throughout the United States.
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Antares Supports Novacap’s Acquisition of Logibec
December 21, 2020Antares announced today that it served as lead arranger and is acting as administrative agent on senior secured credit facilities to support the acquisition of Logibec by Novacap. Headquartered in Montreal, Canada, Logibec is a Montreal-based healthcare software company.
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J.P. Morgan Expands Venture Capital Coverage for the Healthcare Industry With the Hiring of Skip Kelly as Managing Director and Relationship Executive
December 21, 2020The healthcare sector continues to attract record levels of venture funding as early-stage startup companies rise to the forefront of delivering critical innovations. Wall Street giant J.P. Morgan’s goal is to bring value to venture capital (VC) firms that are supporting these startup companies through its global network, industry expertise, and tailored financial solutions. To support this goal, today, J.P. Morgan announced the hiring of Skip Kelly as managing director and relationship executive on the Venture Capital Coverage team.
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Rabobank Announces Leadership Changes in U.S., Canadian Offices
December 21, 2020Rabobank, the leading global food and agribusiness bank, has appointed two of its top executives, Tamira Treffers-Herrera and Robert Sinescu, to become Co-Heads of North American Client Coverage, positioning the Bank for future growth in the region. Treffers-Herrera has also assumed the role of Vice Chairperson and Head of the Atlanta office, where she additionally oversees Rabobank Mexico, which is led by Eduardo Palacios. Sinescu is the Head of the Chicago office, and also oversees Rabobank Canada, led by Marc Drouin, who was recently appointed as Canada's General Manager.
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JPMorgan Names James Roddy to Run Corporate Client Banking
December 21, 2020JPMorgan Chase & Co. named James Roddy as global head of corporate client banking and specialized industries in its commercial banking unit. Roddy, previously co-head of diversified industries investment banking, will report to Doug Petno, chief executive officer of JPMorgan’s commercial bank. The commercial bank, JPMorgan’s smallest line of business by revenue, offers deal advice, treasury services and lending to companies that make up to about $2 billion in revenue. The change was announced in a memo to staff Wednesday and confirmed by a spokeswoman.
-
Rosenthal & Rosenthal, Inc. Provides $2.4 Million Purchase Order Finance Facility for Florida-based Government Contractor
December 21, 2020Rosenthal & Rosenthal, Inc., the leading factoring, asset-based lending and purchase order financing firm in the U.S., today announced the completion of a recent purchase order finance facility to support the production financing requirements of a Florida-based minority-owned government contractor.
-
Rubenstein Partners Announces Pennant Park Refinancing
December 21, 2020Rubenstein Partners, L.P., a vertically-integrated real estate investment adviser focused on value-added office opportunities (together with its affiliates, "Rubenstein"), has refinanced Pennant Park, a 6-building office park in Atlanta's Northwest submarket, with a $114 million loan facility provided by Nuveen Real Estate. This transaction comes after the substantial completion of Rubenstein's business plan for the property, which involved approximately $17 million of improvements aimed at transforming the property into a walkable Class-A urban office environment with immediate access to Truist Park, home of the Atlanta Braves, and a growing set of local amenities both on and off campus.
-
Bank of Southern California Hires William (“Bill”) Sloan and Sam Kunianski to Grow Southern California Presence
December 21, 2020Bank of Southern California, N.A. (OTC Pink: BCAL), a community business bank headquartered in San Diego, announced today the addition of two tenured Commercial Banking executives to support the company’s strategic expansion efforts.
-
Team, Inc. Announces Refinancing Of New Capital Structure
December 21, 2020Team, Inc. (NYSE: TISI) a global leading provider of integrated, digitally-enabled asset performance assurance and optimization solutions, today announced the signing of a new $250 million Senior Secured Term Loan due 2026 (the "Term Loan") led by Atlantic Park Strategic Capital Fund, L.P. ("Atlantic Park"). Atlantic Park acted as administrative agent. Concurrent with the signing of the Term Loan, TEAM executed a new $150 million Senior Secured ABL Credit Facility due 2024 (the "ABL Credit Facility") led by Citibank, N.A.
-
Victoria Gold Closes US$200 Million Credit Facility To Refinance Project Debt
December 21, 2020Victoria Gold Corp. (TSX-VGCX) (“Victoria” or the “Company”) is pleased to announce that it has entered into a credit agreement with a syndicate of banks, comprised of Bank of Montreal, as Joint Bookrunner, Co-Lead Arranger and Administrative Agent, CIBC, as Joint Bookrunner and Co-Lead Arranger, and BNP Paribas, as Co-Lead Arranger in connection with a secured US$200 million debt facility (the “Loan Facility”). The Loan Facility is comprised of a US$100 million term loan (the “Term Facility”) and a US$100 million revolving facility (the “Revolving Credit Facility”).
-
Michelle Moore Named Digital Platform Leader at Wells Fargo
December 21, 2020Wells Fargo & Company (NYSE: WFC) today announced that Michelle Moore will join the company as Digital Platform leader, effective Dec. 31, 2020. She will report to Ather Williams III, head of Strategy, Digital and Innovation, and will be based in Charlotte, North Carolina.
-
CPS Announces Renewal of $100 Million Credit Facility
December 21, 2020Consumer Portfolio Services, Inc. (Nasdaq: CPSS) (“CPS” or the “Company”) today announced that on December 18, 2020 it renewed its two-year revolving credit agreement with Citibank, N.A. Loans under the renewed credit agreement will be secured by automobile receivables that CPS now holds, will originate directly, or will purchase from dealers in the future. CPS may borrow on a revolving basis through December 18, 2022, after which CPS will have the option to repay the outstanding loans in full or to allow them to amortize for a one-year period.
-
Rent-A-Center Enters Into Definitive Agreement to Acquire Acima to Create Leading Virtual Lease-to-Own Platform, Accelerate Long-Term Growth
December 21, 2020Rent-A-Center has obtained $1.825 billion in debt financing commitments from J.P. Morgan Securities LLC, Credit Suisse and HSBC Securities (USA) Inc., in connection with the transaction, subject to the terms and conditions of the respective commitment letters. J.P. Morgan Securities LLC is serving as lead financial advisor; Credit Suisse is serving as an additional financial advisor and Sullivan & Cromwell LLP is serving as legal counsel to Rent-A-Center. FT Partners is serving as sole strategic and financial advisor and Wachtell, Lipton, Rosen & Katz is serving as legal counsel to Acima.
-
Fifth Third Business Capital Arranges New Revolving Credit Facility for HB&G Building Products, Inc.
December 21, 2020Fifth Third Business Capital announced it has arranged a new revolving credit facility for HB&G Building Products, Inc. The Deal Team consisted of Ron Kerdasha, Senior Vice President, Business Development; Jeff Seiden, Senior Vice Presiden, Underwriting and Jeffrey Much, Vice President, Portfolio Management.
-
Huntington Business Credit Announces Credit Facility with The Miller Company
December 21, 2020Huntington Business Credit announced it closed a new $15,000,000 credit facility with The Miller Company on December 15, 2020. Proceeds of the facility were used to support the acquisition by Deutsche Invest Capital Partners and to provide ongoing working capital growth financing.
-
J D Factors Announces Factoring Facilities
December 21, 2020J D Factors announced it provided the following factoring facilities: $120,000 to a transportation company in Virginia; $300,000 to a transportation company in Alberta; $150,000 to a transportation company in Texas.
-
NXCR and Westlake Financial Announce $400 Million Debt Facility and Strategic Partnership to Advance NXCR's Vehicle Subscription Platform
December 21, 2020NextCar Holding Company Inc. (NXCR), a fintech and insurtech vehicle subscription platform, and Westlake Financial (Westlake) have signed a letter of intent to secure a NXCR $400 million debt facility, and to enter into a strategic partnership. Westlake is one of the largest automotive lenders in the U.S. with nearly $12 billion in assets under management, and provides indirect financing through a network of over 20,000 new and used car dealerships throughout the U.S.
-
QIAGEN Underlines and Innovates Its Commitment to Sustainability With a EUR 400mn Sustainability-linked Credit Facility
December 21, 2020QIAGEN N.V. (NYSE: QGEN; Frankfurt Prime Standard QIA) announced today that it has successfully concluded a syndicated revolving credit facility for EUR 400mn with an interest rate linked to the company’s environmental, social and governance (ESG) performance. The agreement makes QIAGEN the first provider of molecular diagnostics solutions with a sustainability component built into corporate borrowing. It underlines QIAGEN’s commitment to people and planet by creating financial incentives to further integrate sustainability throughout every part of its business.
-
Capital Southwest Supports IntelliSite’s Acquisition of Broad Sky Networks
December 21, 2020Capital Southwest Corporation (“Capital Southwest”) (Nasdaq:CSWC), an internally managed business development company focused on providing flexible financing solutions to support the acquisition and growth of middle market businesses, announced today that it recently supported the acquisition of Broad Sky Networks, Inc. (“Broad Sky”) by IntelliSite Corporation (“IntelliSite”), a portfolio company of DFW Capital Partners (“DFW”). Concurrent with the acquisition, IntelliSite created a new international, technology-focused, holding company EPIC IO Technology (“EPIC IO”) comprised of Broad Sky and IntelliSite as independent subsidiaries.
-
Audax Private Debt Provides Financing to Support Add-On Acquisitions and Refinancing for Metalmark Capital’s Portfolio Company, Innovetive Petcare
December 21, 2020Audax Private Debt announced that, as Agent & Sole Lead Arranger, it provided a Second Lien Credit Facility to support add-on acquisitions and a refinancing for Metalmark Capital’s portfolio company, Innovetive Petcare (the “Company” or “Innovetive”). Headquartered in Austin, TX, Innovetive Petcare is a leading acquirer and operator of specialty and general practice veterinary hospitals and clinics for companion animals. The company primarily operates in the south central and southeastern United States.
-
Survey: 60% of Executives Will Continue to Let Employees Work Remotely Post-Pandemic
December 21, 2020While COVID-19 has meant tremendous economic hardship across all business sectors, executives widely feel employees have risen to the occasion regarding productivity as a result of much of the country utilizing a work-from-home ("WFH") model. Furthermore, most of these business leaders will continue to let their employees work remotely after widespread application of a coronavirus vaccine. Those are a pair of key findings from EisnerAmper LLP's executive survey, which gauged the outlook of business leaders throughout the United States.
-
Antares Supports Novacap’s Acquisition of Logibec
December 21, 2020Antares announced today that it served as lead arranger and is acting as administrative agent on senior secured credit facilities to support the acquisition of Logibec by Novacap. Headquartered in Montreal, Canada, Logibec is a Montreal-based healthcare software company.
-
J.P. Morgan Expands Venture Capital Coverage for the Healthcare Industry With the Hiring of Skip Kelly as Managing Director and Relationship Executive
December 21, 2020The healthcare sector continues to attract record levels of venture funding as early-stage startup companies rise to the forefront of delivering critical innovations. Wall Street giant J.P. Morgan’s goal is to bring value to venture capital (VC) firms that are supporting these startup companies through its global network, industry expertise, and tailored financial solutions. To support this goal, today, J.P. Morgan announced the hiring of Skip Kelly as managing director and relationship executive on the Venture Capital Coverage team.
-
Rabobank Announces Leadership Changes in U.S., Canadian Offices
December 21, 2020Rabobank, the leading global food and agribusiness bank, has appointed two of its top executives, Tamira Treffers-Herrera and Robert Sinescu, to become Co-Heads of North American Client Coverage, positioning the Bank for future growth in the region. Treffers-Herrera has also assumed the role of Vice Chairperson and Head of the Atlanta office, where she additionally oversees Rabobank Mexico, which is led by Eduardo Palacios. Sinescu is the Head of the Chicago office, and also oversees Rabobank Canada, led by Marc Drouin, who was recently appointed as Canada's General Manager.
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