- SFNet Market Pulse
- TPG Collects $6.2 Billion for Bespoke Private-Credit Deals
- Samba TV Secures Up to $60 Million Growth Capital Facility from Horizon Technology Finance
- Rosenthal Capital Group Closes Two Purchase Order Financing Transactions Totaling $5 Million
- Westwood Financial Raises Additional $145 Million in Capital, Accelerating Long-Term Growth Strategy
TSL Express Daily Articles & News
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Neiman Marcus Group Announces Amendment and Extension of its ABL Credit Facility
Neiman Marcus Group announced that on October 27, 2023 it entered into a Fourth Amendment (the "Amendment") to the Credit Agreement governing the Company's $900M asset-based lending facility (the "ABL Facility"), led by Bank of America, N.A. as Administrative Agent and Collateral Agent, which amends the Company's existing Credit Agreement, dated as of September 25, 2020 (as amended, the "Credit Agreement").
TSL Express Trending Story
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SFNet Wins Safe Harbor Fight in California
Last Tuesday, the California Assembly Judiciary Committee voted in favor of a measure that will amend the CA SB 1235 disclosure law to provide an explicit safe harbor protecting asset-based lenders and factors who provide a good faith estimate of APR in compliance with the regulations from any liability should that estimate differ from the actual APR. The measure now moves to a vote in the Assembly and is expected to be signed by the governor by mid-July. This was a critically important concession given the fundamental challenges SFNet has contended exist in using APR as a basis of comparison for secured finance products.
TSL Express Daily Headlines & News
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QualiFi LLC Secures $1 Million Credit Facility for RamClean in Just 48 Hours, Fueling Rapid Growth
September 23, 2024QualiFi LLC, a leading boutique loan firm specializing in innovative financial solutions, proudly announces the successful facilitation of a $1,000,000 Credit Facility for RamClean, a rapidly expanding commercial cleaning company. Remarkably, this transaction was completed in just 48 hours, underscoring QualiFi's agility and commitment to supporting high-growth businesses.
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Interplay Learning Closes Growth Investment from Goldman Sachs Alternatives and Acquires Industrial Training International
September 23, 2024Interplay Learning (Interplay), a leading provider of immersive skilled trades training, today announced it has secured funding from Goldman Sachs Alternatives ("Goldman Sachs") and acquired Industrial Training International (ITI) to expand its footprint in key sectors. As part of this round of Investment, Interplay is adding Richard Waitumbi, Managing Director at Goldman Sachs, to its Board of Directors.
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Forward Financing Announces Expanded $450 Million Credit Facility to Help More Small Businesses
September 23, 2024Forward Financing, a national provider of revenue-based financing to small businesses, announced that the company increased their existing $250 million credit facility to $450 million.
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Trinity Capital Inc. Increases its Credit Facility to $510 Million
September 23, 2024Trinity Capital Inc. (Nasdaq: TRIN) ("Trinity" or the "Company"), a leading provider of diversified financial solutions to growth-stage companies, today announced an increase to $510 million of total commitments under its credit facility led by KeyBank N.A.
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SFNet New Member Spotlight: Goulston & Storrs
September 19, 2024Goulston & Storrs is a full-service law firm known for its real estate, corporate, litigation, private client, and tax practices. We are home to nearly 250 attorneys practicing across multiple disciplines from offices in Boston, New York, and Washington DC.
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Bankwell Hires Head of SBA Lending
September 19, 2024Bankwell Financial Group, Inc. (NASDAQ: BWFG), the parent company of Bankwell Bank, has announced the appointment of Michael Johnston as Senior Vice President in the newly established role of Head of SBA Lending.
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Sucro Limited Secures $325 Million Credit Facility Led by Rabobank
September 19, 2024Sucro Limited (TSXV: SUGR) (OTCQB: SUGRF), a leading growth-oriented sugar refiner, is pleased to announce the successful completion of a new syndicated credit facility with Rabobank.
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NXT Capital Closes Senior Credit Facility in Support of Renovo Capital’s Acquisition of Pavement Maintenance Group
September 19, 2024NXT Capital announced today that it closed a senior credit facility in support of Renovo Capital’s acquisition of Pavement Maintenance Group. NXT Capital acted as the Administrative Agent, Sole Bookrunner, and Sole Lead Arranger on this transaction.
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AllianceBernstein Announces the Launch of Interval Fund AB CarVal Credit Opportunities Fund
September 19, 2024AllianceBernstein L.P. ("AB") (NYSE: AB), a leading global investment management firm, today announced the launch of the AB CarVal Credit Opportunities Fund (ABAYX), an unlisted, closed-end interval fund.
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Barclays Appoints Three Senior Leaders in its Industrials Investment Banking Team
September 19, 2024Barclays today announces the appointments of Derek McNulty as Global Co-Head of Chemicals Investment Banking, Derek Davidson as Head of Americas Commercial, Residential and Industrials Services, and Jared Itkowitz as Head of Americas Transportation and Logistics within Industrials Investment Banking. All three are based in New York and report to Spyros Svoronos, Global Head of Industrials Investment Banking.
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Fundbox Secures Warehouse Capacity from Cross River and Waterfall Asset Management
September 19, 2024Fundbox, a leading embedded capital platform for SMBs, announces a new credit facility with Cross River, a technology infrastructure provider that offers embedded financial solutions, and Waterfall Asset Management, a global alternative investment advisor. The agreement brings Fundbox’s total annual origination capacity to over $2B, including existing capacity.
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KeyBank Survey Finds Business Owners Maintain Confidence Amid Election Uncertainty and Potential Policy Changes
September 19, 2024Election years often bring heightened uncertainty for business owners, who must navigate potential policy shifts that could significantly impact their operations. KeyBank's Fall 2024 Small Business Flash Poll found that more than three in five (61%) small business owners polled plan to delay making major business decisions until after election results come out, underscoring the significant impact the political environment can have on business strategy.
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Viola Credit Announces $500M Strategic Joint Venture with Cadma Capital Partners
September 19, 2024Viola Credit, a global asset manager focused on providing asset-based lending solutions to the innovation economy, today announced a strategic joint venture with Cadma Capital Partners ("Cadma"), an affiliate of Apollo Global Management ("Apollo") that specializes in financing solutions for high-growth technology companies and the investment firms that sponsor them.
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Ocorian Appoints Head of Funds US
September 19, 2024Ocorian, market leader in fund administration and corporate services, has recruited Michael Gull as Head of Funds US as it builds for expansion. He brings deep experience and expertise in fund administration from a near 30-year career in senior roles with major firms in San Francisco, Los Angeles and New York. He will be based in Ocorian’s New York office.
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MidFirst Business Credit Announces New Lending Relationship with Orly International, Inc.
September 18, 2024MidFirst Business Credit (MFBC) announced it has recently provided a $7 million working capital facility to Orly International, Inc. (“Orly”). Headquartered in Los Angeles, CA, Orly is a manufacturer and wholesaler of high-quality nail lacquers and various nail care products.
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Digital Media Solutions, Inc. Reaches Agreement to Transition Ownership to Existing Lenders, Positioning Business for Continued Innovation and Growth
September 18, 2024Digital Media Solutions, Inc., (“DMS” or the “Company”), a leading provider of technology-enabled digital performance advertising solutions connecting consumers and advertisers, today announced it has entered into an asset purchase agreement (the “APA”) with existing lenders (the “Lenders”), including a consortium of leading financial institutions. In addition, the Company has secured an approximately $122 million financing commitment from certain of the Lenders to facilitate voluntary Chapter 11.
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Roku Secures $300 Million Credit Facility, Options for More
September 18, 2024On September 16, 2024, Roku (NASDAQ:ROKU), Inc., a leader in streaming entertainment devices and platforms, announced the establishment of a new credit agreement. The agreement, entered into with Citibank N.A. as the administrative agent, provides Roku with a revolving credit facility of up to $300 million with an option to increase it by an additional $300 million under certain conditions.
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Wells Fargo Expands API Capabilities for its Commercial Banking Business
September 18, 2024Wells Fargo & Company (NYSE: WFC) today announced the launch of specialized Application Programming Interfaces (APIs) tailored for its Commercial Banking clients. This expansion of Wells Fargo’s API portfolio provides immediate access to real-time data that may help increase sales, improve liquidity, reduce credit risk, and reduce expenses for floorplan and channel finance clients in the following industries: auto, motorsports, outdoor products and equipment, recreational vehicles, consumer electronics, appliances, and technology.
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The Huntington National Bank Names Patrice DeCorrevont Regional President of Illinois/Wisconsin
September 18, 2024Today, The Huntington National Bank announced that banking veteran Patrice DeCorrevont has been named president of its Illinois/Wisconsin region. DeCorrevont brings more than three decades of experience to this role.
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Epica International, Inc. Secures $18 Million Growth Capital Credit Facility From Avenue Capital Group to Drive Innovation and Expansion
September 18, 2024Epica International Inc., a global leader in advanced medical imaging and precision robotics, today announced the closing of an $18 million growth capital credit facility with [Avenue Venture Opportunities Fund, L.P. and Avenue Venture Opportunities Fund II, L.P., which are funds of] Avenue Capital Group.
The Secured Lender
SFNet's The 81st Annual Convention Issue
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