- Equify Business Funding Funds $13 Million Senior Credit Facility for Gulf Coast Manufacturer
- Fortress Investment Group Leads $500 Million Senior Secured Credit Facility for Blue Raven Solutions
- GoldenTree to Buy About $200 Million of Saks Global Bankruptcy Financing, Bloomberg News Reports
- TSL Feature Articles
- Encina Lender Finance Provides Specialty Finance Company with $75 Million Credit Facility to Scale Origination of Consumer Lease-to-Own Assets
TSL Express Daily Articles & News
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Legislative Alert: SFNet Succeeds in Halting New CA Disclosure Legislation
At a session of the California State Legislature, Senate Bill 869, which would have introduced new, additional disclosure requirements related to APR and subjected asset based lenders and factors to penalties for non-compliance, did not move out of the Senate Appropriations Committee.
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Anatomy of a Deal: Distilling the Right Financial Solution for a Whiskey Business
In 2020, companies across the globe experienced challenges that had previously only been hypothetical scenarios posed by business school professors. Fast forward to 2023: taking their learnings from the unprecedented events of 2020, businesses are exploring capital preservation and unique, flexible financial solutions that will support their company through the next economic challenge. Throughout this article, we will walk through how Wells Fargo completed a transaction for a new customer, working to find a solution suited to fit their needs in a unique and dynamic industry.
TSL Express Daily Headlines & News
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CIBC Innovation Banking Announces Leadership Appointments
November 4, 2024CIBC Innovation Banking has appointed Paul McKinlay and Patrick Martin as Executive Managing Directors and Co-Heads, effective November 1, 2024, as Mark Usher retires from his position as President and Executive Managing Director.
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PennantPark Announces $610 Million Final Close for its Fourth Credit Opportunities Fund
November 4, 2024PennantPark Investment Advisers, LLC (“PennantPark”) today announced the final close of PennantPark Credit Opportunities Fund IV (“PCOF IV”), a private closed-end fund with $610 million of investable capital. The fourth vintage in its family, PCOF IV offers investors access to a diversified portfolio of middle market investments spanning first lien loans, second lien loans, mezzanine debt, and associated equity co-investments.
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Marathon Asset Management Provides Senior Secured Credit Facility to Finance H.I.G. Capital’s Acquisition of SkinCure Oncology
November 4, 2024Marathon Asset Management (“Marathon”), a leading global credit manager with more than $23 billion of assets under management, is pleased to announce the closing of a senior-secured credit facility to finance H.I.G. Capital’s (“H.I.G.”) acquisition of SkinCure Oncology Intermediate LLC (“SkinCure Oncology”). SkinCure Oncology’s executive team, led by CEO Kerwin Brandt, will continue to lead the company and remain significant shareholders.
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Capital Plus Financial Joins Texas Micro-Business Disaster Recovery Loan Program to Support Small Businesses
November 4, 2024Capital Plus Financial, a leading Community Development Financial Institution and subsidiary of Crossroads Impact Corp, is proud to announce its participation in the Texas Micro-Business Disaster Recovery Loan Program. This initiative provides essential access to capital for microbusinesses impacted by declared disasters, helping them recover and rebuild.
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Northrim BanCorp Announces Acquisition of Sallyport Commercial Finance, LLC
November 4, 2024Northrim BanCorp, Inc. (NASDAQ:NRIM) (“Northrim” or the “Company”) today announced the acquisition of Sallyport Commercial Finance, LLC (“Sallyport” or “SCF”) in an all cash transaction that closed on October 31, 2024 and is valued at approximately $53.9 million.
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Franchise Group Reaches Agreement with First Lien Lenders to Substantially Reduce Debt, Enhance Liquidity, and Best Position Profitable Operating Businesses for Sustainable Growth
November 4, 2024Franchise Group, Inc. ("FRG" or the "Company") today announced that it has entered into a restructuring support agreement ("RSA") with holders of approximately 80% of its first lien debt on a comprehensive solution to strengthen FRG's capital structure and best position its leading brands – Pet Supplies Plus, The Vitamin Shoppe, and Buddy's Home Furnishings – for continued sustainable growth.
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TGI Fridays Inc. Files Voluntary Chapter 11 Petitions to Address Legacy Liabilities and Position Restaurants for Long-Term Success
November 4, 2024TGI Fridays Inc. (the "Company"), the owner and operator of 39 domestic restaurants in the TGI Friday's casual dining chain, today filed voluntary petitions under Chapter 11 of the U.S. Bankruptcy Code in the Northern District of Texas.
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Lendscape Strengthens Leadership with Appointment of new CTO
November 4, 2024Lendscape, a global leader in secured finance technology, is pleased to announce the appointment of Patrick Myles as Chief Technology Officer. With over 25 years of experience in senior technology leadership roles, Myles will spearhead Lendscape’s continued innovation and product development, ensuring its solutions remain at the forefront of the fintech industry.
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Robert Meyers Named President of Secured Finance Network
November 4, 2024Robert Meyers, President of Republic Business Credit, was recently elected as President of the Secured Finance Network (SFNet), the essential resource for all organizations and professionals that deliver and enable secured finance to businesses.
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Alvarez & Marsal Enhances Its Procurement and Sourcing Offering Appointing John Fiorentino as a Managing Director
November 4, 2024Leading global professional services firm Alvarez & Marsal (A&M) announces the appointment of John Fiorentino as a Managing Director within the firm’s Private Equity Performance Improvement (PEPI) group. Mr. Fiorentino’s expertise unlocking procurement and supply chain-driven value creation, in support of private equity (PE) firms and their portfolio companies, provides the perfect blend of experience to expand A&M’s Procurement and Sourcing group’s strategic capabilities.
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Bugcrowd Secures $50 Million Growth Capital Facility from Silicon Valley Bank
November 4, 2024Silicon Valley Bank (SVB), a division of First Citizens Bank, today announced it has provided a $50 million growth capital facility to Bugcrowd, a leading provider of crowdsourced cybersecurity solutions. Bugcrowd brings the collective ingenuity of organizations and hackers to mitigate vulnerabilities across all applications, systems, and infrastructure.
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Gunvor Closes Inaugural US Private Placement at US $378.5 Million, Significantly Oversubscribed
November 4, 2024Gunvor Group, one of the largest independent energy commodities trading companies worldwide, has successfully closed its inaugural United States (US) Private Placement, totalling US $378.5 million of senior unsecured notes with US institutional investors placed under Section 4(a)(2) of the Securities Act.
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Jupiter Power Secures $225 Million Corporate Credit Facility to Accelerate Energy Storage Growth
November 4, 2024Jupiter Power LLC ("Jupiter Power"), a leading developer and operator of utility-scale battery energy storage systems, announced today the successful close of a $225 million corporate credit facility.
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GoldenTree Asset Management Announces Closing of $599 Million CLO Under GLM Strategy
November 4, 2024GLM III, LP (“GLM III”) and its affiliated investment manager GoldenTree Asset Management LP (along with other affiliated investment managers “GoldenTree”), announced the closing of a $599 million collateralized loan obligation (“CLO”) to be managed by GLM III.
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J D Factors Provides $22,275,000 in new Factoring Facilities
November 4, 2024J D Factors provided $22,275,000 in new factoring facilities to 48 new clients in the US and Canada during the month of October. Some of these facilities include: A $750,000 factoring facility for a hosiery manufacturing company in North Carolina. A $200,000 factoring facility for an wildfire suppression equipment company in California.
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Runway Growth Capital Announces Combination with BC Partners Credit
November 4, 2024Runway Growth Capital LLC ("Runway"), a leading provider of growth loans to both venture and non-venture-backed companies seeking an alternative to raising equity, and BC Partners Credit, the $8 billion credit arm of BC Partners, an approximately $40 billion AUM alternative investment firm, today announced a definitive agreement whereby BC Partners Credit will acquire Runway.
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Mayer Brown Adds Leading Private Credit Partner Sheel Patel as Head of New York Private Credit
October 31, 2024Mayer Brown announced today that prominent private credit lawyer Sheel Patel has joined the firm as a partner, where he will serve as head of the Private Credit practice in New York. Sheel joins from King & Spalding, where he was a key partner in its Private Credit and Special Situations group.
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Celtic Capital Corporation Provides Funding for a a Pacific-based Manufacturing Company
October 31, 2024Celtic Capital Corporation today announced its most recent new client relationship – a Pacific-based company manufacturing components for the electronics and communications industry.
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A&G Named Real Estate Advisor of the Year in 16th Annual Turnaround Atlas Awards
October 31, 2024Global M&A Network has named A&G Real Estate Partners “Real Estate Advisory Firm of the Year”—the fifth consecutive year in which A&G has received the honor—as part of its 16th Annual Turnaround Atlas Awards.
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Gridiron Capital Partners with Health Monitor Network
October 31, 2024Gridiron Capital, LLC (“Gridiron Capital” or “Gridiron”), an investment firm focused on partnering with founders, entrepreneurs, and management teams, announces an investment in Health Monitor Network (“Health Monitor” or the “Company”).
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