Hilco Global announced today that long time Bank of America executive Betsy Ratto will join the Hilco Global team as Senior Vice President of Capital Solutions with responsibility to drive business for ReStore Capital and Hilco Corporate Finance.
In this new role, Ms. Ratto will be responsible for originating and executing corporate finance and capital markets transactions, with focus on the retail industry and other financing transactions. Ms. Ratto will be based in Hilco’s Boston office and will work on identifying and originating lending/investment opportunities through Hilco Global’s and her own existing network of professional contacts and relationships, including investment banks, private equity firms and hedge funds.
TSL Express Trending Story
In this installment of our series of executive interviews, Charlie Perer sits with Tim Stute to understand his views on the ABL industry, consolidation, new trends including specialization and state of the M&A market, among other things.
TSL Express Daily Headlines & News
Pathlight Capital Closes Second ABL Credit Fund with $1.16 Billion of Commitments
November 9, 2021Pathlight Capital LP ("Pathlight") announced today the final closing of its sophomore funds, Pathlight Capital Fund II LP and Pathlight Capital Offshore Fund II, LP (together, the "Fund"), with $1.16 billion of capital commitments. The Fund was oversubscribed, closing above its original fundraising target of $750 million to $1 billion. Wilmer Cutler Pickering Hale and Dorr LLP provided legal counsel.
Nicholas Financial Enters into a New $175 Million Senior Secured Credit Facility
November 8, 2021Nicholas Financial, Inc. (NASDAQ: NICK) – an industry leading branch-based subprime auto lender focused on servicing the needs of the local independent dealer – announced that on November 5, 2021 the company entered into a senior secured credit facility pursuant to a loan and security agreement with Wells Fargo Bank, N.A., as agent, and the lenders that are party thereto.
CIT Arranges Up to $58 Million to Refinance Four Container Ships
November 8, 2021CIT Group Inc. (NYSE: CIT) today announced that its Maritime Finance business arranged to provide up to $58 million to refinance four container ships operated by Leonhardt & Blumberg.
DCM Announces Credit Facility Refinancing, Expected to Deliver $1.5 million of Interest Expense Savings in 2022
November 8, 2021-DATA Communications Management Corp. (TSX: DCM) (“DCM” or the "Company"), a leading provider of marketing and business communication solutions to companies across North America, is pleased to announce the refinancing of certain of its credit facilities. The proceeds from new term loans will be used to repay a portion of the Company’s outstanding indebtedness.
EMERGE Announces Refinancing of Term Loan and Upsizing of Credit Facility to $25 Million
November 8, 2021EMERGE Commerce Ltd. (TSXV: ECOM) ("EMERGE" or the "Company"), a diversified, rapidly growing acquirer and operator of niche e-commerce brands, is pleased to announce the refinancing of its $8 million term loan, and upsizing of its credit facility providing for a total facility limit of $25 million (the "Facility") with primary use of funds expected to be future acquisition financing.
Lakeland Bancorp, Inc. and 1st Constitution Bancorp Announce the Receipt of FDIC and New Jersey Approvals in Connection with Proposed Merger
November 8, 2021Lakeland Bancorp, Inc. (“Lakeland”) (NASDAQ: LBAI), the parent company of Lakeland Bank, and 1st Constitution Bancorp (“1st Constitution”) (NASDAQ: FCCY), the parent company of 1st Constitution Bank, announced today the receipt of Federal Deposit Insurance Corporation and New Jersey Department of Banking and Insurance approval in connection with the proposed merger of 1st Constitution with and into Lakeland.
First Internet Bank Expands Arizona Commercial Banking Team
November 8, 2021irst Internet Bank announced the hiring of Vice President of Commercial Banking, Ryan Hasher. Mr. Hasher joins First Internet Bank’s Arizona-based commercial banking team, reporting to Regional Vice President Neil Barna.
FTI Consulting Commits to Net-Zero Greenhouse Gas Emissions by 2030
November 8, 2021The Company will identify emission reduction targets for Scope 1 and Scope 2 emissions, as well as business travel, in 2022 and intends to work toward having these goals validated by the Science Based Targets initiative (“SBTi”). The commitment was made as part of FTI Consulting’s inaugural Corporate Sustainability Report, which explains the Company’s approach to its environmental, social and governance (“ESG”) risks and opportunities, programs, policies, practices and goals.
GeminiBio Secures Financing from BroadOak Capital Partners
November 8, 2021Gemini Bioproducts, LLC ("GeminiBio"), a leading manufacturer of cell culture products and custom cGMP bioprocess liquids, announced today that it has secured financing from BroadOak Capital Partners, LLC ("BroadOak"), a boutique direct investment and advisory firm focused on life science research tools and diagnostics. The transaction with BroadOak provides GeminiBio additional capital to expand its cGMP liquid manufacturing facility.
Amerisource Closes $10,000,000 Credit Facility for Water Services Firm
November 8, 2021Amerisource Business Capital announced the closing and funding of a $10,000,000 senior credit facility and real estate term loan for a Texas based water infrastructure, treatment and recycling firm. The proceeds were used to help fund an acquisition and to support their ongoing working capital needs.
BHI Commercial and Industrial Group Closes $1.1 Billion in 2021 Financing Transactions
November 8, 2021BHI, a full-service commercial bank, announced that its Commercial and Industrial Group has closed $1.1 billion in transactions year-to-date 2021. BHI’s C&I Group handles financing for commercial and industrial companies in the middle market and encompasses sectors including private equity, food and beverage, Israeli business, technology, corporate banking, and project finance renewable energy across the bank’s markets in New York, New Jersey, Florida and California.
Moritt Hock & Hamroff Included In U.S. News & World Report –Best Lawyers® 'Best Law Firms' 2022 Edition
November 8, 2021Moritt Hock & Hamroff has been ranked as a Tier 1 in the 2022 U.S. News & World Report - Best Lawyers® "Best Law Firms" list nationally in 1 practice area and regionally in 4 practice areas.
TradeCap Partners Provides $10 million PO Funding Solution for Midwest Steel Distributor
November 8, 2021TradeCap Partners recently closed a $10 million PO funding solution for a Midwest based distributor of rolled steel. The trade finance solution allowed the Company to capitalize on significant customer demand brought on by lack of supply and limited allocation from US steel mills.
Sallyport Announces $1.6 Million in Financing for Canadian Manufacturer
November 8, 2021Sallyport is excited to announce a $1,600,000 accounts receivable facility for a growing Canadian manufacturer in the agricultural space. The client was referred to Sallyport by a broker, and although there were other providers vying for the business, the client ultimately favored Sallyport’s responsiveness and flexible approach to finding a solution that worked for them.
Wolters Kluwer Compliance Solutions Announces Hires
November 8, 2021Shane Martin has joined Wolters Kluwer Compliance Solutions as Digital Mortgage Sales Director, responsible for the growth of the company’s end-to-end digital lending platform. Wolters Kluwer Compliance Solutions has named Jennifer “Jenn” Reid Digital Lending Sales Director to advance awareness of Wolters Kluwer end-to-end digital lending capabilities—delivered through its eOriginal open platform—to financial institutions in the mortgage, auto, consumer and commercial lending markets.
Farm Bureau Bank Hires Gary Armstrong as Chief Commercial Banking Officer, Focuses on Expanding Commercial Banking
November 8, 2021Farm Bureau Bank is announcing the addition of Gary Armstrong as the Chief Commercial Banking Officer. In this role, Armstrong will focus on enhancing and expanding the Bank's Commercial Banking platform.
NewLake Capital Partners Provides $30 Million to Hero Diversified Associates, Inc.
November 8, 2021ewLake Capital Partners, Inc. (OTCQX: NLCP) (“The Company” or “NewLake”), a leading provider of real estate capital to state-licensed cannabis operators, today announced it has provided a nine-month senior secured loan to Hero Diversified Associates, Inc. (“HDAI”), which owns a state-licensed grower and processor of medical marijuana in Pennsylvania.
Viracta Therapeutics Secures $50 Million Credit Facility from Silicon Valley Bank and Oxford Finance
November 8, 2021Viracta Therapeutics, Inc. (Nasdaq: VIRX), a precision oncology company primarily focused on targeting virus-associated malignancies, today announced that the Company has entered into a loan and security agreement with Silicon Valley Bank (SVB) and Oxford Finance LLC (Oxford) for up to $50.0 million. In connection with the $50.0 million credit facility, the Company and SVB agreed to terminate the Company's prior $15.0 million loan and security agreement and the existing $5.0 million debt balance was refinanced.
J D Factors Announces Factoring Facilities
November 8, 2021J D Factors announced it provided the following factoring facilities: $175,000 to a transportation company in Illinois; $300,000 to a transportation company in Oklahoma; $75,000 to a staffing company in Quebec.
Houlihan Lokey Expands Its Chemicals Coverage Capabilities With Senior Hire
November 8, 2021Houlihan Lokey (NYSE:HLI), the global investment bank, announced that David Schneider has joined the firm as a Managing Director in the Industrials Group. He is based in New York and will bolster Houlihan Lokey’s coverage of the chemicals sector.
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The Secured Lender
SFNet's 77th Annual Convention Issue