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TSL Express Daily Articles & News
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Today's Top Story
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Accord Financial Hires Ryan Ray as Director, Business Development, U.S. Asset Based Finance
Accord Financial Corp., one of the U.S. and Canada’s leading independent commercial finance companies ("Accord") (TSX: ACD) announced the hiring of Ryan Ray, an experienced asset-based lending (ABL) and equipment professional to the Accord Financial team.
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Mitigating Borrowers’ Cybersecurity Risk
Financial and collateral review? Check. Appropriate lender agreements, carveouts and lien perfection? Check. Review of borrower’s cybersecurity policies and procedures? Can you repeat that? When it comes to lender due diligence and documentation, organizations are well versed with modeling, credit procedures and deal structures; however, there is a continually growing blind spot that lenders cannot afford to ignore: Cybersecurity.
TSL Express Daily Headlines & News
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Barclay Damon Welcomes 10 Attorneys From Burns & Levinson, Including the Third IP Group This Year
October 2, 2024Barclay Damon announces the addition of 10 lawyers from Burns & Levinson, effective October 7. The group consists of a six-lawyer intellectual property team led by former B&L IP chair Deb Peckham that includes partners Kate Noll and Alex Smolenski, of counsel Jerry Cohen, and associates Dan McGrath and Kat Delos Reyes, along with several support staff.
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Peregrine Closes on Debt Financing from KKR
October 2, 2024Peregrine Energy Solutions LLC ("Peregrine"), an integrated multi-technology clean energy platform with a focus on utility-scale energy storage, and KKR, a leading global investment firm, today announced that Peregrine has closed on a credit facility from insurance accounts managed by KKR that can provide financing for up to $250 million in assets.
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Powin Secures $200 Million in Debt Capital From KKR to Bolster Growth and Innovation in Energy Storage
October 2, 2024Powin, a global leader in battery energy storage solutions, announced today that it has successfully secured a revolving credit facility of up to $200 million primarily from insurance accounts managed by KKR, a leading global investment firm. The facility will be instrumental in supporting Powin’s working capital needs, driving continued innovation, and further enhancing the company’s financial flexibility as it expands its leadership position in the storage industry.
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James Mandolfo Joins Cahill’s Washington, D.C. Office as Congressional Investigations and White Collar Counsel
October 2, 2024Cahill Gordon & Reindel LLP announced today that James Mandolfo has joined the firm’s Congressional Investigations and White Collar Defense & Investigations practices as a counsel in Washington, D.C.
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Six Sawmills and Veneer Mills Close as Besse Forest Products Group Shuts Down Operations in Wisconsin and Michigan
October 2, 2024Besse Forest Products Group, a longtime leader in Northern hardwood veneer, lumber, and specialty plywood manufacturing, has officially closed six of its green lumber sawmills and veneer mills in Wisconsin and Michigan. The closures mark a significant shift for the forest products industry in the Midwest, as the assets from these facilities are now up for sale.
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Tiger Finance Posts Strong Lending Growth in the Third Quarter
October 2, 2024Tiger Finance’s lending platform committed $125 million of capital in the third quarter to support clients’ strategic growth initiatives across various business sectors.
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Monarch Alternative Capital Raises Over $4.7 Billion for Sixth Opportunistic Credit Fund
October 2, 2024Monarch Alternative Capital LP, a leading opportunistic credit and real estate investment firm, announced today the successful final close of Monarch Capital Partners VI ("MCP VI").
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Blue Owl Capital Completes Acquisition of Atalaya Capital Management’s Business
October 2, 2024Blue Owl Capital Inc. (“Blue Owl”) (NYSE: OWL), a leading alternative asset manager, announced today the completion of its acquisition of the business of alternative credit manager, Atalaya Capital Management LP (“Atalaya”). The acquisition was previously announced in July of 2024.
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Lafayette Square Announces ING's Expanded Commitment to Revolving Credit Facility
October 2, 2024Lafayette Square USA, Inc. ("Lafayette Square"), a business development company, announced today that ING Capital LLC ("ING") has increased commitments to the hybrid credit facility that closed earlier this year. EverBank, N.A. ("EverBank") and First Citizens Bank ("First Citizens") will provide additional commitments which will increase the existing facility from $75 million to $150 million.
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Rising Costs from High Inflation and Interest Rates Contribute to a Continued Increase in Large Corporate Bankruptcy Filings through the First Half of 2024
October 2, 2024Large corporate bankruptcy filings continued to climb in the latter half of 2023 through the first half of 2024, according to a report released today by Cornerstone Research.
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BIOLASE Voluntarily Initiates Chapter 11 Proceedings
October 2, 2024BIOLASE, Inc. (NASDAQ:BIOL) (the "Company"), a global leader in dental lasers, today announced that the Company and its direct domestic subsidiaries have voluntarily initiated Chapter 11 proceedings (the "Bankruptcy Petitions") in the United States Bankruptcy Court for the District of Delaware (the "Court").
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ADT Inc. Secures $800 Million Extended Revolving Credit Facility
October 2, 2024ADT Inc. (NYSE:ADT), a leader in security and automation solutions for homes and businesses in North America, has announced the successful amendment and extension of its first lien revolving credit facility.
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David O'Hara Appointed Managing Director of MKP Advisors USA
October 2, 2024MKP Advisors (MKP), a leading global advisory firm, is pleased to announce that David O'Hara has joined the firm to drive the launch of its on-the-ground US operations. Having spent 16 years at Washington Analysis, where he built a strong following around both merger arbitrage and special situations investment strategies, David brings a wealth of knowledge translating complex policy into actionable investment ideas.
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Advantage Business Capital Provides $2.5MM Invoice Factoring Facility to Industrial Crafts Provider
October 2, 2024Advantage is proud to announce the funding of a $2.5MM invoice factoring facility for Houston, Texas area scaffolding, painting, welding, and machining business.
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Rosenthal Acquires Accord Equipment Finance, Further Expanding ABL Business, Capabilities and Solidifying Midwest Footprint
October 1, 2024Rosenthal & Rosenthal, Inc., the leading factoring, asset-based lending, purchase order financing and inventory financing firm in the United States, today announced the completion of a deal to acquire the assets of Accord Equipment Finance, the equipment leasing division of Accord Financial Corp. (TSX – ACD), the Toronto-based commercial finance company.
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Revlon Enters Into Senior Secured Asset-Based Credit Facility Led by MUFG
October 1, 2024n September 30, 2024, Revlon Intermediate Holdings III (“Revlon”) and certain of its subsidiaries entered into a five-year senior secured asset-based credit agreement (the “Credit Agreement”) with Mitsubishi UFJ Financial Group (“MUFG”), as administrative agent, and the lenders party thereto.
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J D Factors Provides $9,875,000 in New Factoring Facilities in September
October 1, 2024J D Factors provided $9,875,000 in new factoring facilities to 40 new clients in the US and Canada during the month of September. Some of these facilities include: A $700,000 factoring facility for a transportation company in Ohio. A $500,000 factoring facility for an oil & gas company in Pennsylvania
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nFusion Provides $25 Million ABL Facility for Construction Management Company
October 1, 2024Headquartered in the Midwestern United States, this construction management company provides engineering and construction services to numerous Fortune 100 clients in the steel, refining, power generation, natural gas, chemical, automotive, food processing, and pharmaceutical industries. The Company has steadily grown since its founding over 30 years ago.
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Second Avenue Capital Partners and Ares Management Provide Gabe’s with New $175,000,000 Credit Facility
October 1, 2024Second Avenue Capital Partners (“SACP”), a Schottenstein affiliate, is pleased to announce the closing of a $175,000,000 Senior Secured Revolving Line of Credit for Gabe’s, a leading off-price retailer operating in the mid-Atlantic and Southeast US. The new credit facility, which was provided by SACP and Ares Management Credit funds (“Ares”), will be used to support Gabe’s ongoing growth initiatives, enhance operational flexibility, and strengthen the company’s capital structure.
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Monroe Capital Supports Relevate Health Group’s Acquisition of Level Ex Games Pharma and Life Sciences Division
October 1, 2024Monroe Capital LLC (“Monroe”) announced it acted as sole lead arranger and administrative agent on the funding of a senior credit facility to support the acquisition of the Level Ex Games (“Level Ex”) pharma and life sciences division by Relevate Health Group (“Relevate”), an existing portfolio company of Mountaingate Capital.
The Secured Lender
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