- IDB Bank Appoints David Park as President of Commercial Banking
- Peoples Bancorp Inc. Announces Retirement of Douglas V. Wyatt; Ron J. Majka Appointed Chief Commercial Banking Officer
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Today's Top Story
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Asset-based loan commitments grew in 2023, with fewer new clients, but larger deals
Economic twists and turns marked 2023 but the asset-based lending market still saw growth in commitments of working capital, according to data released by the Secured Finance Network (SFNet). And while there were fewer new client deals last year than in 2022, the deals were larger in size.
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Secured Finance Executives Predicting Modest Growth in 2024
Despite economic headwinds and higher costs of borrowing, secured lenders are expecting a profitable year ahead
TSL Express Daily Headlines & News
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Arq Announces Successful Closing of $30 Million Revolving Credit Facility
January 3, 2025Arq, Inc. (NASDAQ: ARQ) (the "Company" or "Arq"), a producer of activated carbon and other environmentally efficient carbon products, today announced the successful closing of an asset-based revolving credit facility (the "Facility") with MidCap Financial, a leading commercial finance company focused on middle market transactions, ("MidCap Financial").
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Diamond Sports Group Emerges From Chapter 11 as Main Street Sports Group
January 3, 2025Diamond Sports Group announced today that it has completed its financial restructuring and has emerged from Chapter 11 as Main Street Sports Group (“Main Street Sports” or the “Company”) with a significantly deleveraged balance sheet.
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NN, Inc. Announces New Asset-Based Lending Facility
January 3, 2025NN, Inc. (NASDAQ: NNBR), a global diversified industrial company that engineers and manufactures high-precision components and assemblies, announced today that it has entered into an ABL Credit Agreement governing a new asset-backed senior secured revolving credit facility (the “ABL”). The new ABL Credit Agreement will provide NN Inc. with a $50 million revolving credit facility.
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Carbon Revolution Secures $25 Million Financing Agreement with Orion Infrastructure Capital
January 3, 2025Carbon Revolution plc (Nasdaq: CREV) (the "Company"), a Tier 1 OEM supplier and the leading global manufacturer of lightweight advanced technology automotive carbon fiber wheels, today announced that it has reached an agreement with Orion Infrastructure Capital ("OIC") for a further US$25 million financing
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PennantPark Floating Rate Capital Ltd. Upsizes Credit Facility to $736 Million
January 3, 2025PennantPark Floating Rate Capital Ltd. (“PFLT”) (NYSE: PFLT) announced that it has upsized its credit facility, led by Truist Bank (the “Credit Facility”) to $736 million from $636 million. Pricing on this facility remained unchanged at SOFR plus 225 basis points.
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West Red Lake Gold Closes US$35-Million Credit Facility with Nebari and Announces Drawdown of US$15 Million
January 3, 2025- West Red Lake Gold Mines Ltd. (“West Red Lake Gold” or the “Company”) (TSXV: WRLG) (OTCQB: WRLGF) is pleased to announce that on December 31, 2024 it entered into a completed credit agreement (the “Loan Agreement”) with Nebari Natural Resources Credit Fund II LP (“Nebari”) pursuant to which the Company will borrow up to a maximum principal amount of US$35 million.
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Kuber Announces Additional Partner & Increase of Credit Facility to $160 Million
January 3, 2025Kuber Mortgage Investment Corporation ("Kuber" or the "Company") is pleased to announce an increase to its revolving credit facility (the "Credit Facility") from $100 million to $160 million with continued support by two of Canada's largest banks and the addition of one of the largest US banks as a syndicate partner, effective December 23, 2024.
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Ladder Announces $850 Million Revolving Credit Facility to Upsize and Extend Existing Facility and Reduce Cost of Debt
January 3, 2025Ladder Capital Corp (“Ladder,” the “Company,” “we” or “our”) (NYSE: LADR), a leading diversified commercial real estate finance platform, recently closed and subsequently upsized a revolving credit facility (the “Credit Facility”) with commitments of $850 million.
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Greenberg Traurig Expands London Restructuring and Arbitration Practices with Strategic Hires
January 2, 2025Global law firm Greenberg Traurig, LLP has reinforced its commitment to growth in the London market by welcoming two lawyers, Restructuring & Insolvency Shareholder Aaron Harlow and International Arbitration Of Counsel Michael Cottrell.
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SMG Sells Seven CCM Stations, Restructures Balance Sheet
January 2, 2025In a significant restructuring of its financial landscape, Salem Media Group (SMG) has repurchased all $159.4 million of its outstanding 7.125% Senior Secured Notes due 2028 at a discounted rate, issued $40 million in convertible preferred stock, and reached an agreement to sell seven of its radio stations for $90 million.
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Huntington Business Credit closed new credit facilities with JG Kern Enterprises, Inc
January 2, 2025Huntington Business Credit closed $21,000,000 in new credit facilities with JG Kern Enterprises, Inc. on November 27, 2024. Proceeds of the facility were used to refinance existing debt and provide ongoing working capital financing.
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Celtic Capital Corporation Announces New Client Relationship
January 2, 2025Celtic Capital Corporation today announced its most recent new client relationship – a Pacific Northwest company that was acquiring the assets of a long-time precision machine shop working in the aerospace, defense and theme park industries.
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Cadre Holdings Announces Expansion to Credit Facilities
December 23, 2024Cadre Holdings, Inc. (NYSE: CDRE) (“Cadre” or “the Company”), a global leader in the manufacturing and distribution of safety equipment and other related products for the law enforcement, first responder, military and nuclear markets, today announced the closing of a new credit agreement that provides senior secured credit facilities of up to $590 million and matures in five years.
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Sallyport Commercial Finance Welcomes Josh Sapolich
December 23, 2024Sallyport Commercial Finance announced Josh Sapolich has joined the Sallyport sales team. With 16 years of experience in alternative finance, spanning selling and underwriting from New Jersey to Charleston and now the Houston area, Josh brings a wealth of expertise and a strong passion for building lasting relationships with customers, bankers and brokers.
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T-Max Lending LLC Successfully Finalizes $22 Million Multifamily Loan in Titusville, Crawford County, Pennsylvania
December 23, 2024T-Max Lending LLC, a prominent private direct lender within the real estate sector, is delighted to announce the successful closure of a $22 million loan agreement intended to finance a significant multifamily development project in Titusville, Crawford County, Pennsylvania.
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CPS Announces Credit Facility Capacity Increase
December 23, 2024Consumer Portfolio Services, Inc. (Nasdaq: CPSS) (“CPS” or the “Company”) today announced that on December 16, 2024, it amended its two-year revolving credit agreement with Citibank, N.A to increase the capacity of the facility. The amendment also applies to the subordinate third party lender, which was announced last month. The amendment increases the capacity of this facility from $225 million to $335 million.
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Great Plains Communications Secures $500 Million in Financing
December 23, 2024Great Plains Communications (GPC), a leading Midwestern telecommunications provider, announced today the successful closing of $500 million in financing to refinance debt and fund future capital expenditures and expansion.
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The Container Store Group Files for Voluntary Bankruptcy Protection
December 23, 2024The Container Store — once the premier hub for all things storage and organization — filed for bankruptcy amid mounting debt. The 46-year-old retail chain filed for Chapter 11 bankruptcy protection late Sunday in a Texas district court. It comes just days after Big Lots and Party City announced they will be closing down for good in response to their own financial struggles.
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ATC Managers Secures $37 Million Loan for Multifamily Portfolio Acquisition
December 23, 2024ATC Managers is pleased to announce the successful closure of a $37 million acquisition loan for a multifamily portfolio located in Queens, New York, just 15–20 minutes from Manhattan by subway.
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NXT Capital Closes Senior Credit Facility in Support of L Squared Capital Partners' Acquisition of Kano Laboratories
December 23, 2024NXT Capital announced today that it closed a senior credit facility in support of Broad Sky Partners’ acquisition of Frontline Managed Services. NXT Capital acted as Joint Lead Arranger, Joint Bookrunner, and Administrative Agent on this transaction.
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