- Rosenthal Capital Group Closes Two Purchase Order Financing Transactions Totaling $5 Million
- Sallyport Commercial Finance Provides a $500,000 Factoring Facility for a Natural Energy Drink Company
- nFusion Capital Provides a $6 Million ABL Facility for a Commercial Sheet Metal and Roofing Contractors
- SouthStar Capital Provides $300,000 PO & A/R Facility to Support Growing Midwest Supplier
- Bank Economists: Credit Outlook Improves Amid Continued Softening
TSL Express Daily Articles & News
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Siena Lending Group Announces Leadership Changes and Promotions
Scott Elliotto has been named President of Siena Lending Group, while Todd Eubanks is joining SLG as Deputy Chief Risk Officer and Michael Zielinski has been promoted to Director of Portfolio Management, Team Leader. All positions are effective immediately.
TSL Express Trending Story
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Barry Bobrow is a managing director and head of credit markets for Regions Business Capital. He is a widely respected leader in middle-market leveraged finance and asset-based lending. He has spent the past 38 years working in banking, most of it as a debt capital markets professional, primarily in leveraged lending and supply chain finance. Bobrow is the creator and chairman of the Asset Based Capital Conference (ABCC), an SFNet sponsored conference focusing on the middle-market leveraged and asset-based markets, now in its 16th year. Here, Bobrow discusses his career trajectory, his outlook for the industry and his goals for SFNet in 2024.
TSL Express Daily Headlines & News
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Lilium Group Announces Sale of Xcel Bulk Logistics to the Kenan Advantage Group, Inc.
December 2, 2024Peterson Hawkins and Lilium Group announced the sale of Xcel Bulk Logistics (“XBL”) to the Kenan Advantage Group, Inc. (“KAG”), North America’s largest bulk logistics company. Amerisource provided both debt and equity to support the growth of XBL.
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Republic Business Credit Fuels Growth for Innovative Manufacturer with $4,000,000 Factoring Facility
December 2, 2024Fueled by a demand for its innovative automated handling solutions, a national manufacturer has partnered with Republic Business Credit to secure a $4,000,000 recourse factoring facility. Republic partnered with an independent private equity sponsor to complete the corporate divestiture of one orphan division that was primed for growth with the right partner.
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Sallyport Commercial Finance Provides $4M Funding to Further Belluscura’s U.S. Expansion Goals
December 2, 2024Sallyport Commercial Finance is delighted to announce a $4,000,000 funding facility for Belluscura, a trailblazing medical device company focused on developing innovative oxygen enrichment technology. The funding, comprising accounts receivable and cash flow loans, will empower Belluscura to expand its operations into the U.S. market, supporting the production and distribution of their groundbreaking oxygen treatment devices.
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Stoli Group US arm Files for Chapter 11
December 2, 2024Stoli Group's US unit has filed for Chapter 11 bankruptcy in a bid to safeguard its business operations, brands and personnel. The protection, which covers the company's Stoli Group USA LLC and Kentucky Owl LLC entities, was submitted to the United States Bankruptcy Court for the Northern District of Texas.
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Mercuria Successfully Closes Oversubscribed USD 1,699,084,507 Equivalent in USD and CNH Syndicated Term Loan and Revolving Credit Facilities in Asia
December 2, 2024Mercuria Energy Group Ltd. ("Mercuria") is pleased to announce the successful closing of its USD 1,699,084,507 equivalent in USD and CNH Syndicated Term Loan and Revolving Credit Facilities (the "Facilities") in Asia.
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EDF Announces the Signature of a €6 Billion Syndicated Credit Facility Indexed to ESG Indicators
December 2, 2024On 29 November 2024, EDF (BBB positive S&P / Baa1 stable Moody's / BBB+ negative Fitch) signed a €6 billion syndicated credit facility for a five-year term, renewable twice for one year. Its cost will be indexed to three Group sustainability performance indicators, in line with the Loan Markets Association's Sustainability Linked Loans Principles:
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MONTICELLOAM, LLC Closes an $18 Million Bridge Loan for a Wisconsin Seniors Housing Community
December 2, 2024MONTICELLOAM, LLC (“MonticelloAM”), a specialized multifamily and seniors housing bridge lending platform, closed $18,000,000 in bridge financing for a seniors housing community in Wisconsin. The financing was originated by Karina Davydov, Managing Director at MonticelloAM.
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Installed Building Products Announces Successful Repricing of Term Loan B Facility and a Share Repurchase Update
December 2, 2024Installed Building Products, Inc. (the "Company") (NYSE: IBP), an industry-leading installer of insulation and complementary building products, today announced that the Company successfully repriced its $500 million term loan (the "Term Loan").
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Amerisource Business Capital Closes a $3,000,000 Term Loan and Revolving Credit Facility for Utility Firm
December 2, 2024Amerisource Business Capital is pleased to announce the successful closing and funding of a $3,000,000 term loan and revolving credit facility for a utility consulting firm located in Texas.
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Blackstone Credit & Insurance Announces $1 Billion Infrastructure Loan Portfolio Purchase From Santander
December 2, 2024Blackstone and Santander Corporate & Investment Banking today announced an agreement under which funds managed by Blackstone Credit & Insurance (“BXCI”) will acquire interests in a $1 billion portfolio of high-quality infrastructure loans from Santander.
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Cohn & Dussi Promotes Attorney Andrew B. Glaab to Partner
December 2, 2024Cohn & Dussi, a full-service law firm with its principal office in Boston, is proud to announce that Attorney Andrew B. Glaab has been promoted to Partner. Glaab, who has been with the firm since 2014, has demonstrated exceptional leadership and legal acumen, particularly in his role heading the firm's in-house collection group.
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Minerals Technologies Announces Successful Debt Refinancing
December 2, 2024Minerals Technologies Inc. (NYSE: MTX) (MTI), a global specialty minerals company, today announced the closing of a new seven-year $575 million senior secured Term Loan B (TLB) along with the increase of its Revolving Credit Facility (Revolver) from $300 million of capacity due 2027 to $400 million due 2029.
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Barings Launches First European Middle Market Private Credit CLO at €380 Million
December 2, 2024Barings, one of the world’s leading investment managers, today announced that it is executing the first European middle market private credit CLO, Barings Euro Middle Market CLO 2024-1 DAC, at €380 million. S&P and Fitch will rate the CLO, which is backed by a portfolio of European middle market senior secured loans.
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SouthStar Capital Provides $4 Million Invoice Factoring Facility to Boost Second-Generation Manufacturing Company
November 26, 2024SouthStar Capital is proud to announce the provision of a $4 million Accounts Receivable (A/R) facility to a second-generation, family-run manufacturing company that serves industries such as aggregate, sawmill, and asphalt since the 1980s, the company has built a strong reputation for reliability and innovation.
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Practice Better Secures US$13 Million in Growth Capital from CIBC Innovation Banking to Accelerate Expansion of Holistic Health Practice Management Solution
November 26, 2024CIBC Innovation Banking today announced a US$13 million growth capital facility for Practice Better, a leading all-in-one practice management software platform serving health and wellness professionals. The investment will support Practice Better's continued expansion into new markets and accelerate product innovation empowering health and wellness professionals to reach millions of clients.
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Lifecore Biomedical Amends and Extends Revolving Credit Facility with BMO
November 26, 2024Lifecore Biomedical, Inc. (NASDAQ: LFCR) (“Lifecore”), a fully integrated contract development and manufacturing organization (“CDMO”), today announced that it has entered in an agreement with BMO, a leading provider of global investment and corporate banking services and one of North America’s largest banks, which amends and extends the terms of Lifecore’s existing asset-based lending (“ABL”) revolving credit facility entered into between Lifecore and BMO in December 2020.
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Ares Capital Completes $544 Million Debt Securitization
November 26, 2024Ares Capital Corporation ("Ares" or the "Company"), a leading specialty finance company, has completed a significant debt securitization transaction, according to a recent filing with the Securities and Exchange Commission (SEC). On Monday, Ares, through its subsidiary Ares Direct Lending CLO 4 LLC ("ADL CLO 4"), finalized a $544.0 million term debt securitization known as a collateralized loan obligation (CLO), which is an on-balance-sheet financing.
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Hedaya Capital Powers Wholesale Manufacturer's Growth
November 26, 2024The Hedaya Capital Group recently provided a $5 Million factoring/inventory financing facility to a New York-based wholesale manufacturer of licensed electronic and novelty products in a hypergrowth phase
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Adam Hoffman Joins Webster as Head of Treasury Management
November 26, 2024Webster Bank is pleased to announce that Adam Hoffman has joined Webster as executive managing director, Head of Treasury Management. Hoffman is responsible for leading all facets of Treasury Management and Commercial Card, including Sales, Client Delivery and Product Management.
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US Revolvers Show Elevated Utilization, Solid Bankruptcy Recoveries
November 26, 2024Revolving credit facilities continue to show strong bankruptcy recoveries and offer the highest likelihood of recovery among the various types of rated first-lien debt, according to a new report from Fitch Ratings.
The Secured Lender
SFNet's The 81st Annual Convention Issue
