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Mount Logan Capital Inc. Renews Financing Facility
February 3, 2020Mount Logan Capital Inc. (NEO:MLC) (“Mount Logan” or the “Company”) is pleased to announce that it and its wholly-owned subsidiary Great Lakes Senior MLC I LLC (“MLC Subsidiary”) have entered into an amendment (the “First Amendment”) to its existing facility and security agreement (the “Facility Agreement”) with a subsidiary of Global Atlantic Financial Group, as initial lender, those persons who from time to time become lenders pursuant to the Facility Agreement (collectively, the “Lenders”), as lenders, and U.S. Bank National Association, as administrative agent, custodian, collateral agent and collateral administrator.
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TPG Specialty Lending, Inc. Increases and Extends Its Revolving Credit Facility
February 3, 2020The Facility was led by SunTrust Robinson Humphrey, JPMorgan Chase Bank, N.A. and MUFG Union Bank, N.A. as joint lead arrangers and includes a total of 20 bank participants. The accordion feature, which would allow the Company, under certain circumstances, to upsize the Facility has also increased from a maximum of $1.50 billion to $1.75 billion. Pricing and advance rates under the Facility remain unchanged.
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Anthony Saitta Joins FTI Consulting to Lead Executive Compensation & Corporate Governance Practice
January 30, 2020FTI Consulting, Inc. (NYSE: FCN) today announced that Anthony Saitta has joined its Real Estate Solutions industry group as a Managing Director and will lead the Executive Compensation & Corporate Governance practice.
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Gordon Brothers Announces Expanded Role for Managing Director
January 30, 2020Gordon Brothers, the global advisory, restructuring, and investment firm, announced the expansion of Managing Director Rick Wilichowski’s role to include oversight of the Valuations Division’s Equipment Finance, Asset Management, and Mobile Modular sales functions.
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Wings Capital Partners LLC Announces Closing of $125,000,000 Term Loan
January 30, 2020Wings Capital Partners LLC (“Wings”) announced the successful closing of a secured term loan collateralized by a 777-200LRF on lease to Korean Airlines. The three-tranche financing has a maturity coterminous with the lease tenor and was provided by a syndicate of financial institutions including Barings, Nord LB, Bayern LB, and Investec.
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Griffon Corporation Announces New Credit Facility
January 30, 2020Bank of America acts as administrative agent under the New Credit Facility, which provides for revolver borrowings in an aggregate principal amount of up to $400 million, and contains a $100 million letter of credit sub-facility (increased from $50 million), and a $200 million foreign currency sub-facility (increased from $100 million). The New Credit Facility also has a $100 million accordion feature (increased from $50 million), exercisable if new or existing lenders agree to provide or increase their commitments.
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SunOpta Enters Into an Extension of Its $360 Million Revolving Asset-Based Credit Facility
January 30, 2020The credit facility contains customary covenants and borrowing availability requirements. The facility is provided by a syndicate of banks, including Bank of America, N.A., Rabobank Nederland, Canadian Branch, Bank of Montreal, JP Morgan Chase Bank, N.A., and Wells Fargo Bank, National Association.
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CrowdOut Capital Provides Term Loan and Growth Facility to Wild Wing Cafe
January 29, 2020CrowdOut Capital LLC, a pioneering non-bank lender for middle-market companies, today announced the completion of a term loan and a delayed draw growth facility to Wild Wing Cafe. Founded in Hilton Head, Wild Wing Cafe owns and operates a successful restaurant franchise with 44 system-wide restaurants (16 corporate, 28 franchised) across nine states, predominately across the Southeast.
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CIFC Strengthens High Yield Capabilities With Experienced Team Led by Jason Horowitz as Head of U.S. High Yield Bond Investments
January 29, 2020CIFC LLC (“CIFC”), a leading alternative credit specialist serving institutional investors globally, today announced that it has appointed Jason Horowitz as Head of U.S. High Yield Bond Investments to lead the expansion of CIFC’s high yield investment business. In this new role, Mr. Horowitz is supported by seasoned high yield investment professionals, Managing Director Brandon Hole and Executive Director Eric Seiden. Mssrs. Horowitz, Hole and Seiden join CIFC from Millennium Management and are based in New York.
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Comtech Telecommunications Corp. to Acquire Gilat Satellite Networks for $532.5 Million in a Strategic and Cash Accretive Transaction
January 29, 2020Comtech expects to fund the acquisition and related transaction costs by redeploying a portion of the $100.0 million of pro forma combined cash and cash equivalents plus additional cash expected to be generated prior to closing, and by drawing on a new $800.0 million secured credit facility to be provided by Citibank, N.A., Manufacturers and Traders Trust Company (“M&T Bank”), Santander Bank, N.A., BMO Harris Bank, N.A. (“Bank of Montreal”), Regions Bank, Israel Discount Bank of New York and Goldman Sachs Bank USA.
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SG Credit Partners Provides $4.0 Million to Midwestern Mechanical Contractor
January 29, 2020SG Credit Partners teamed up with CapitalPlus Construction Services to provide a $13.0 MM structured factoring facility based on the Company’s strong ownership group, diversified customer base, and leverage profile.
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TAB Bank Expands West Coast Presence With the Launch of a Los Angeles Loan Production Office (LPO)
January 29, 2020TAB Bank announced today the launch of a Los Angeles Loan Production Office (LPO) to better serve its new and existing clients in the Western Region. TAB Bank has promoted Brett Horwitz to Managing Director and Head of Originations-Western Region and promoted Traci Crabtree to serve as Western Regional Underwriting Manager.
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Luis Massiani Promoted to President of Sterling National Bank
January 29, 2020Sterling Bancorp (NYSE: STL) today announced the promotion of Luis Massiani to President of Sterling National Bank. In addition to maintaining his role as Chief Financial Officer of Sterling Bancorp and Sterling National Bank, Mr. Massiani will lead all finance, bank operations and consumer banking functions.
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White Oak ABL, LLC Provides $75MM Asset-Based Credit Facility to Hunt & Sons, Inc.
January 29, 2020White Oak ABL, LLC ("White Oak"), an affiliate of White Oak Global Advisors, announced today it closed a $75MM asset-based credit facility with Hunt & Sons, Inc., a third-generation, family-owned diversified petroleum products distributor.
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Hedaya Capital Group Announces the Completion of a $750,000 Factoring Facility for a Candle Company; Manufacturing in the United States
January 29, 2020The Hedaya Capital Group, Inc. is pleased to announce a $750,000 factoring facility for a candle manufacturer based in the mid-west. The Company manufactures and wholesales: tealight, votive, pillar, taper, dinner, and filled candle products and distributes them to online, specialty, and retail store chains throughout the United States.
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Oxford Finance Closes Credit Facility with Impact Advisors
January 28, 2020Oxford Finance LLC (“Oxford”), a specialty finance firm that provides senior debt to life sciences and healthcare services companies worldwide, today announced the closing of a senior credit facility to Impact Advisors (“the Company”), a leading provider of clinical, revenue cycle and information technology advisory services to the healthcare industry. Concurrently, the Company entered into a strategic partnership with Chicago Pacific Founders (“CPF”), an investment firm exclusively focused on healthcare services and caring for aging populations. Oxford is the sole lead arranger and administrative agent in this transaction.
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Leading M&A Lawyer Adel Aslani-Far Joins Greenberg Traurig in New York
January 28, 2020M. Adel Aslani-Far, widely recognized as one of the United States’ leading public company mergers and acquisitions attorneys, has joined the New York office of Greenberg Traurig, LLP as a shareholder in the firm’s Global Corporate Practice. Aslani-Far joins from Latham & Watkins LLP, where he was a partner and former global co-chair of the firm’s Mergers & Acquisitions Practice.
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Stephano Slack Builds Accounting and Auditing Practice with New Hire
January 28, 2020Stephano Slack, LLC, a leading regional accounting and consulting firm, has hired James Forgione, CPA as a Partner in the firm’s Accounting and Auditing Department, effective January 2, 2020. He has a blend of national and regional firm experience and a deep client service focus.
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Teekay Tankers Announces Asset Sales and New Debt Facility
January 28, 2020The Company has closed a new five-year, $533 million revolving credit facility to refinance 31 vessels. The size of the new debt facility was reduced since announcing the term sheet signing in November 2019 as a result of excluding five vessels from the new facility, including the three vessel sales noted above and a potential for further opportunistic vessel sales. The proceeds from the new debt facility will be used to repay approximately $455 million of the Company’s existing debt. The new debt facility has substantially similar terms and extends balloon maturities from 2020/2021 until the end of 2024.
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U.S. Xpress Enterprises Announces New $250 Million Revolving Credit Facility
January 28, 2020U.S. Xpress Enterprises, Inc. (NYSE:USX) (the “Company”) today announced the refinancing of its Senior Credit Facility. Eric Peterson, Chief Financial Officer commented, “We appreciate the continued support from our lenders, with Bank of America, JP Morgan Chase Bank, Wells Fargo Bank, and Regions Bank all remaining in our bank group.
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Mount Logan Capital Inc. Renews Financing Facility
February 3, 2020Mount Logan Capital Inc. (NEO:MLC) (“Mount Logan” or the “Company”) is pleased to announce that it and its wholly-owned subsidiary Great Lakes Senior MLC I LLC (“MLC Subsidiary”) have entered into an amendment (the “First Amendment”) to its existing facility and security agreement (the “Facility Agreement”) with a subsidiary of Global Atlantic Financial Group, as initial lender, those persons who from time to time become lenders pursuant to the Facility Agreement (collectively, the “Lenders”), as lenders, and U.S. Bank National Association, as administrative agent, custodian, collateral agent and collateral administrator.
-
TPG Specialty Lending, Inc. Increases and Extends Its Revolving Credit Facility
February 3, 2020The Facility was led by SunTrust Robinson Humphrey, JPMorgan Chase Bank, N.A. and MUFG Union Bank, N.A. as joint lead arrangers and includes a total of 20 bank participants. The accordion feature, which would allow the Company, under certain circumstances, to upsize the Facility has also increased from a maximum of $1.50 billion to $1.75 billion. Pricing and advance rates under the Facility remain unchanged.
-
Anthony Saitta Joins FTI Consulting to Lead Executive Compensation & Corporate Governance Practice
January 30, 2020FTI Consulting, Inc. (NYSE: FCN) today announced that Anthony Saitta has joined its Real Estate Solutions industry group as a Managing Director and will lead the Executive Compensation & Corporate Governance practice.
-
Gordon Brothers Announces Expanded Role for Managing Director
January 30, 2020Gordon Brothers, the global advisory, restructuring, and investment firm, announced the expansion of Managing Director Rick Wilichowski’s role to include oversight of the Valuations Division’s Equipment Finance, Asset Management, and Mobile Modular sales functions.
-
Wings Capital Partners LLC Announces Closing of $125,000,000 Term Loan
January 30, 2020Wings Capital Partners LLC (“Wings”) announced the successful closing of a secured term loan collateralized by a 777-200LRF on lease to Korean Airlines. The three-tranche financing has a maturity coterminous with the lease tenor and was provided by a syndicate of financial institutions including Barings, Nord LB, Bayern LB, and Investec.
-
Griffon Corporation Announces New Credit Facility
January 30, 2020Bank of America acts as administrative agent under the New Credit Facility, which provides for revolver borrowings in an aggregate principal amount of up to $400 million, and contains a $100 million letter of credit sub-facility (increased from $50 million), and a $200 million foreign currency sub-facility (increased from $100 million). The New Credit Facility also has a $100 million accordion feature (increased from $50 million), exercisable if new or existing lenders agree to provide or increase their commitments.
-
SunOpta Enters Into an Extension of Its $360 Million Revolving Asset-Based Credit Facility
January 30, 2020The credit facility contains customary covenants and borrowing availability requirements. The facility is provided by a syndicate of banks, including Bank of America, N.A., Rabobank Nederland, Canadian Branch, Bank of Montreal, JP Morgan Chase Bank, N.A., and Wells Fargo Bank, National Association.
-
CrowdOut Capital Provides Term Loan and Growth Facility to Wild Wing Cafe
January 29, 2020CrowdOut Capital LLC, a pioneering non-bank lender for middle-market companies, today announced the completion of a term loan and a delayed draw growth facility to Wild Wing Cafe. Founded in Hilton Head, Wild Wing Cafe owns and operates a successful restaurant franchise with 44 system-wide restaurants (16 corporate, 28 franchised) across nine states, predominately across the Southeast.
-
CIFC Strengthens High Yield Capabilities With Experienced Team Led by Jason Horowitz as Head of U.S. High Yield Bond Investments
January 29, 2020CIFC LLC (“CIFC”), a leading alternative credit specialist serving institutional investors globally, today announced that it has appointed Jason Horowitz as Head of U.S. High Yield Bond Investments to lead the expansion of CIFC’s high yield investment business. In this new role, Mr. Horowitz is supported by seasoned high yield investment professionals, Managing Director Brandon Hole and Executive Director Eric Seiden. Mssrs. Horowitz, Hole and Seiden join CIFC from Millennium Management and are based in New York.
-
Comtech Telecommunications Corp. to Acquire Gilat Satellite Networks for $532.5 Million in a Strategic and Cash Accretive Transaction
January 29, 2020Comtech expects to fund the acquisition and related transaction costs by redeploying a portion of the $100.0 million of pro forma combined cash and cash equivalents plus additional cash expected to be generated prior to closing, and by drawing on a new $800.0 million secured credit facility to be provided by Citibank, N.A., Manufacturers and Traders Trust Company (“M&T Bank”), Santander Bank, N.A., BMO Harris Bank, N.A. (“Bank of Montreal”), Regions Bank, Israel Discount Bank of New York and Goldman Sachs Bank USA.
-
SG Credit Partners Provides $4.0 Million to Midwestern Mechanical Contractor
January 29, 2020SG Credit Partners teamed up with CapitalPlus Construction Services to provide a $13.0 MM structured factoring facility based on the Company’s strong ownership group, diversified customer base, and leverage profile.
-
TAB Bank Expands West Coast Presence With the Launch of a Los Angeles Loan Production Office (LPO)
January 29, 2020TAB Bank announced today the launch of a Los Angeles Loan Production Office (LPO) to better serve its new and existing clients in the Western Region. TAB Bank has promoted Brett Horwitz to Managing Director and Head of Originations-Western Region and promoted Traci Crabtree to serve as Western Regional Underwriting Manager.
-
Luis Massiani Promoted to President of Sterling National Bank
January 29, 2020Sterling Bancorp (NYSE: STL) today announced the promotion of Luis Massiani to President of Sterling National Bank. In addition to maintaining his role as Chief Financial Officer of Sterling Bancorp and Sterling National Bank, Mr. Massiani will lead all finance, bank operations and consumer banking functions.
-
White Oak ABL, LLC Provides $75MM Asset-Based Credit Facility to Hunt & Sons, Inc.
January 29, 2020White Oak ABL, LLC ("White Oak"), an affiliate of White Oak Global Advisors, announced today it closed a $75MM asset-based credit facility with Hunt & Sons, Inc., a third-generation, family-owned diversified petroleum products distributor.
-
Hedaya Capital Group Announces the Completion of a $750,000 Factoring Facility for a Candle Company; Manufacturing in the United States
January 29, 2020The Hedaya Capital Group, Inc. is pleased to announce a $750,000 factoring facility for a candle manufacturer based in the mid-west. The Company manufactures and wholesales: tealight, votive, pillar, taper, dinner, and filled candle products and distributes them to online, specialty, and retail store chains throughout the United States.
-
Oxford Finance Closes Credit Facility with Impact Advisors
January 28, 2020Oxford Finance LLC (“Oxford”), a specialty finance firm that provides senior debt to life sciences and healthcare services companies worldwide, today announced the closing of a senior credit facility to Impact Advisors (“the Company”), a leading provider of clinical, revenue cycle and information technology advisory services to the healthcare industry. Concurrently, the Company entered into a strategic partnership with Chicago Pacific Founders (“CPF”), an investment firm exclusively focused on healthcare services and caring for aging populations. Oxford is the sole lead arranger and administrative agent in this transaction.
-
Leading M&A Lawyer Adel Aslani-Far Joins Greenberg Traurig in New York
January 28, 2020M. Adel Aslani-Far, widely recognized as one of the United States’ leading public company mergers and acquisitions attorneys, has joined the New York office of Greenberg Traurig, LLP as a shareholder in the firm’s Global Corporate Practice. Aslani-Far joins from Latham & Watkins LLP, where he was a partner and former global co-chair of the firm’s Mergers & Acquisitions Practice.
-
Stephano Slack Builds Accounting and Auditing Practice with New Hire
January 28, 2020Stephano Slack, LLC, a leading regional accounting and consulting firm, has hired James Forgione, CPA as a Partner in the firm’s Accounting and Auditing Department, effective January 2, 2020. He has a blend of national and regional firm experience and a deep client service focus.
-
Teekay Tankers Announces Asset Sales and New Debt Facility
January 28, 2020The Company has closed a new five-year, $533 million revolving credit facility to refinance 31 vessels. The size of the new debt facility was reduced since announcing the term sheet signing in November 2019 as a result of excluding five vessels from the new facility, including the three vessel sales noted above and a potential for further opportunistic vessel sales. The proceeds from the new debt facility will be used to repay approximately $455 million of the Company’s existing debt. The new debt facility has substantially similar terms and extends balloon maturities from 2020/2021 until the end of 2024.
-
U.S. Xpress Enterprises Announces New $250 Million Revolving Credit Facility
January 28, 2020U.S. Xpress Enterprises, Inc. (NYSE:USX) (the “Company”) today announced the refinancing of its Senior Credit Facility. Eric Peterson, Chief Financial Officer commented, “We appreciate the continued support from our lenders, with Bank of America, JP Morgan Chase Bank, Wells Fargo Bank, and Regions Bank all remaining in our bank group.
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