- Concord Serves As Exclusive Financial Advisor and Arranges $20MM in Senior Debt
- Citizens Commercial Banking Appoints New SVP of Retail Finance Group
- Forever 21 Prepares for Potential Bankruptcy Filing
- 12five Capital, LLC
- Stonebriar Closes its Largest Securitization Transaction To Date at $685 Million
China has locked down entire cities and restricted travel to limit the spread of the epidemic, with serious implications for Chinese companies and global supply chains. US technology giant Apple warned that it would not meet its revenue guidance for the March quarter because of slower iPhone production and weaker demand in China.
The uncertain fallout from the coronavirus outbreak in China has paralysed syndications across Asia, as lenders struggle to assess the damage to Chinese businesses and borrowers that rely heavily on Chinese demand.
TSL Express Trending Story
TSL Express Daily Headlines & News
Crestmark Provides More Than $41.6 Million in Commercial Financing to 77 Businesses in the First Half of February
February 25, 2020Crestmark secured a total of $6,300,000 in ABL financial solutions for nine new clients; Crestmark Equipment Finance provided $24,532,533 in 10 new lease transactions; Crestmark Vendor Finance provided $5,580,236 in 56 new lease transactions; and the Government Guaranteed Lending Division provided $5,224,037 in financing for three new clients in the first half of February.
Cosi, Inc. Files for Chapter 11 Bankruptcy Reorganization to Complete its Transformation to a Profit Maximizing Mix of In-store Dining and Catering Which Will Better Align it with Customer Dining Trends
February 24, 2020Cosi expects to emerge from Chapter 11 as a stronger version of itself, with a greater focus on its burgeoning catering business. Cosi has retained a chief restructuring officer, Jason F. Fensterstock, to assist with the development and implementation of its business plan and the associated cost cutting and initiatives which are well underway and include the opening of several new locations in the first half of 2020.
Cohn & Dussi LLC Announces the Addition of Robert Hanna as Director of National Sales and Marketing
February 24, 2020“Bob has been influential in the creditors' rights and commercial collection industry. He is well respected by financial companies throughout the country. We are pleased to have him as a valuable member of our firm,” states Lewis Cohn, Managing Partner of Cohn & Dussi.
Interfor Announces Long Term Debt Financing
February 24, 2020INTERFOR CORPORATION (“Interfor” or the “Company”) (IFP.TO) today announced it has priced US$50 million in long-term debt financing with Prudential Capital Group. The senior secured notes will carry an annual interest rate of 3.34% and have a final maturity in 2030. The financing is expected to close in March and the proceeds will be used for general corporate purposes.
Blank Rome Welcomes New Bankruptcy and Restructuring Associate in Houston
February 24, 2020Blank Rome LLP is pleased to announce that Broocks “Mack” Wilson has joined the Firm as an associate in the Finance, Restructuring, and Bankruptcy practice group. He is based in the Firm’s Houston office. Mack joins Blank Rome from Gerger Law Firm PLLC. He represents debtors, creditors, officers and directors, investors, and trustees in Chapter 7 and 11 bankruptcy proceedings and bankruptcy litigation at trial and appellate levels
Utica Equipment Finance Announces New Hire
February 24, 2020Utica Equipment Finance, a leading provider of equipment-based term loans and leases to companies throughout North America, today announced that Britt Stackhouse has joined the firm as a Managing Director based in New York City. He will be responsible for sourcing and developing client and referral relationships throughout the United States.
Gibraltar Continues to Grow, Welcoming New SVP Robin Oertel to the Upper Midwest Region
February 24, 2020Robin will be using her 20-plus years of experience to originate and execute new asset-based lending relationships in the Upper Midwest region (IL, WI, MN, IA, MO, ND, SD, NE, KS). Her experience in business development, relationship management and field examinations provides a solid platform for delivering solutions that meet or exceed clients’ and financial sponsors’ goals.
Pinnacle Capital Finance Provides a $4.5 Million Line of Credit to a Leading Furniture Manufacturer
February 24, 2020Pinnacle Capital Finance is proud to announce the issuance of a $4.5MM line of credit to a leading San Francisco Bay Area design, manufacturer and distributor of indoor and outdoor modern furniture. The company supplies state of the art furniture and lighting to retail, restaurant, hospitality, rental and design companies located in the United States, Canada and some South American countries.
SB360 Capital Partners Adds New Hires As Growth and Expansion Continue
February 24, 2020Adam Milton joins SB360 as a Senior Financial Analyst. He will be engaged in varied financial analyses of SB360’s business including acquisitions, collateral monitoring, dispositions, and special projects. Tiffany Arredondo joins SB360 as Assistant Vice President of Corporate Development. She will be responsible for corporate initiatives and assisting with new business. Tiffany will play a role in all aspects of assessing new business opportunities, generating business insights to further advance short and long-term growth strategies and priorities.
North Mill Capital Announces $750,000 Asset Based Credit Facility
February 24, 2020The funds will be used to support the working capital needs of the business.
AES Distributed Energy Secures $341 Million of Debt Financing from Silicon Valley Bank, KeyBank N.A. and Nomura
February 24, 2020The financing is the largest domestic debt facility raised for a portfolio of community and distributed solar and represents the third large umbrella facility AES DE has completed since 2017. Silicon Valley Bank (SVB), KeyBank N.A. and Nomura acted as coordinating lead arrangers.
Ralph Hamers to Leave ING to Become CEO of UBS
February 24, 2020Ralph Hamers, CEO of ING, will step down from his position and leave ING as of 30 June 2020. After 29 years at ING he will join UBS on 1 September 2020 and will become Group Chief Executive Officer per 1 November 2020. Over the past six years Ralph Hamers has transformed ING into a leading digital bank, on the way to become the go-to financial platform for our customers. He created value for all stakeholders and played a leading role in driving sustainability efforts in the financial industry.
David Viggiano Joins Sterling National Bank as Senior Managing Director of Asset Based Lending, Commercial Banking
February 24, 2020David has been in the secured lending business his entire career and has held various leadership positions in both ABL and Equipment Finance.
Axiom Bank N.A. Appoints Bryan Scheff as VP, Commercial Relationship Manager
February 24, 2020Axiom Bank N.A., a Maitland-based, leading community bank, recently named Bryan Scheff as VP, Commercial Relationship Manager. In this role, Mr. Scheff will develop relationships with Axiom’s commercial partners in Central Florida.
Heritage Global Valuations ("HGV") Expands
February 24, 2020Heritage Global Valuations ("HGV") is pleased to announce the addition of William (Bill) Kleibenstein, ASA to its Machinery and Equipment valuation practice. Bill comes to HGV with over 30 years of appraisal experience and is based in our new Milwaukee, WI office.
ABLC Opens California Office
February 24, 2020Asset Based Lending Consultants (ABLC) , one of the nation’s leading field examination outsource firms, is pleased to announce the opening of a new office in the Los Angeles, California area. This expansion helps to give ABLC a farther reach within the ever-growing ABL market. With an already global reach with offices in Hollywood, FL and London, England, the ABLC brand is only getting stronger.
Artis Trade Systems Adds 5Star Bank in Colorado to Their Portfolio
February 24, 2020Artis Trade Systems (“Artis”) added another bank to ArtisPay, its supply chain finance (SCF) software platform. On December 2nd, Artis entered into an agreement with 5Star Bank, a community bank in Colorado Springs, CO.
Moody’s and KBRA Upgrade Their Published Ratings on Stonebriar’s ABS
February 24, 2020Stonebriar Commercial Finance (“Stonebriar”), a leading independent large-ticket commercial finance company, is pleased to announce a number of rating upgrades published by both Kroll Bond Rating Agency (“KBRA”) and Moody’s Investors Service (“Moody’s”) on its various asset-backed securities (“ABS”). Stonebriar is an experienced ABS issuer and servicer with approximately $2bn of outstanding ABS across 5 deals each backed by a variety of large ticket equipment asset types.
California Bank of Commerce Welcomes Gokul Nair to its Treasury Management Group
February 24, 2020Nair joins California Bank of Commerce with more than 15 years of experience in commercial banking. He has held various positions with Wells Fargo, most recently serving as Vice President and Senior Treasury Management Consultant for the past three years. Nair was named Wells Fargo’s Top Treasury Consultant in 2018.
Encina Business Credit, LLC Announces the Closing of a $25 Million Credit Facility with Etailz, Inc.
February 24, 2020Encina Business Credit, LLC (“EBC”) announces the completion of a $25.0 million senior secured revolving credit facility for etailz, Inc. The facility will be used to refinance an existing facility and to support etailz ongoing working capital, capex, and general corporate requirements.
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The Secured Lender
SFNet's Asset-Based Capital Issue.