- A&G Real Estate Partners Names Senior Investment Banker Jacob Czarnick as Principal, Business Development and Strategy
- Stellus Capital Management, LLC Provides Unitranche Financing in Support of Tailwind Capital's Investment in Valor Fleet Services
- enGene Announces Expanded $125 Million Debt Facility with Hercules Capital, Inc.
- IDB Bank Appoints David Park as President of Commercial Banking
- TSL Feature Articles
TSL Express Daily Articles & News
To submit company news and press releases toTSL Express, email tslexpress@sfnet.com.
Today's Top Story
Featured
Eric Huff Joins S&T Bank as Director of Asset-Based Lending
S&T Bank has named Eric Huff as senior vice president, managing director of asset-based lending.
With over 25 years of experience in financial services, most recently as the senior regional director and business development officer at Huntington Bank, Huff brings a wealth of knowledge and experience. In his role at S&T Bank, he will be responsible for the ongoing sales and growth of the bank’s asset-based lending portfolio.
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Unleashing the Power of AI in the Secured Finance Industry: A Journey into Change and Evolution
Change is the great shapeshifter of existence. It is the unseen artist who paints the landscape of our lives with broad strokes of innovation and evolution. In the world of secured finance, change is manifesting through a potent and promising medium—Artificial Intelligence (AI). One particular AI innovation, OpenAI’s ChatGPT, is at the frontier of this change, offering a path filled with opportunities and potential challenges.
TSL Express Daily Headlines & News
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AFC Gamma Provides Story of Maryland with $41 Million Senior Secured Credit Facility
October 8, 2024AFC Gamma, Inc. (Nasdaq:AFCG) (“Advanced Flower Capital” or “AFC”) today announced that it has committed and funded $41 million to a senior secured credit facility to Story of Maryland, LLC (“Story MD”), a leading, vertically integrated operator in Maryland. Story MD intends to use the proceeds from the credit facility to refinance existing debt and provide working capital.
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Valiant Energy Solutions Partners with Cambridge Savings Bank’s Asset-Based Lending Team to Expand M&A Capabilities and Deliver Innovative Total Energy Solutions
October 8, 2024Valiant Energy Solutions, a trusted name in energy services with a 60-year legacy throughout Connecticut, is excited to announce a strategic partnership with Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and over $7 billion in assets.
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BrightNight Closes $440 Million Strategic Investment from Goldman Sachs Alternatives, Upsizes Corporate Credit Facility to $400 Million
October 8, 2024BrightNight, the next-generation renewable power producer built to deliver clean and dispatchable power solutions, today announced the successful closing of a $440 million strategic equity investment from Goldman Sachs Alternatives.
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Great Rock Capital Closes Term Loan Facility with Pennex Aluminum
October 7, 2024Great Rock Capital, an asset-focused commercial finance company specializing in middle market lending, today announced the closing of a senior secured term loan facility with Pennex Aluminum (“Pennex”).
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Gateway Trade Funding Completes 19 Stretch Finance Transactions Totaling More Than $4,100,000
October 7, 2024Gateway Trade Funding, a PO and Stretch Financing company, is pleased to announce that it has recently completed the following stretch finance transactions: A $100,000 facility for a charter school; a $150,000 facility for a radio manufacturing company.
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Sallyport Commercial Finance Provides Staffing Startup with $500,000
October 7, 2024Sallyport Commercial Finance announced it provided $500,000 in accounts receivable facility to a staffing industry startup. Facing rapid contract growth in their early stages, the company sought funding to bridge working capital gaps and support payroll operations.
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SLR Business Credit Adds Braff as Managing Director of Business Development
October 7, 2024SLR Business Credit announced today that David Braff has joined the company as a Managing Director of Business Development. Braff is the newest addition to the SLR Business Credit team. Based in the San Francisco Bay Area, he will assist in expanding the Company’s presence by providing asset-based lending and invoiced-based financing.
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LSQ Creates $2.5MM Invoice Finance Facility for CA-based Telecom Hardware Company
October 7, 2024LSQ, a leading provider of working capital and payments management solutions, recently originated a $2.5 million accounts receivable credit facility for a California-based telecommunications hardware company.
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Rocky Mountain Chocolate Factory Enters Into New $6 Million Credit Facility
October 7, 2024Rocky Mountain Chocolate Factory Inc. (Nasdaq: RMCF) (the “Company”, “we”, or “RMCF”), an international franchisor and producer of premium chocolates and other confectionery products, including gourmet caramel apples, has entered into a new three-year $6 million credit agreement with RMC Credit Facility, LLC, a special purposes investment entity affiliated with current RMCF board member Steve Craig.
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Medalist Diversified REIT, Inc. Announces $4 Million Line of Credit and Cash Dividend of $0.06 Per Share on Its Common Stock and $0.50 Per Share on Its Series A Preferred Stock Cash Dividend
October 7, 2024Medalist Diversified REIT (NASDAQ: MDRR) (the "Company" or "Medalist"), a Virginia-based real estate investment trust that specializes in acquiring, owning and managing commercial real estate in the Southeast region of the U.S., announced today that the Company has increased its line of credit to $4 million, previously set at $1.5 million, as part of its ongoing strategic efforts to enhance financial flexibility and support future growth.
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Vista Outdoor Enters Into Definitive Agreement with SVP to Sell Revelyst for $1.125 Billion; Delivers an Estimated $45 Per Share in Cash in Combination with CSG Transaction
October 7, 2024Vista Outdoor Inc. (“Vista Outdoor” or “the Company”) (NYSE: VSTO) today announced it has entered into a definitive agreement with funds managed by Strategic Value Partners, LLC, and its affiliates (“SVP”), a global alternative investment firm with approximately $19 billion of assets under management, to sell Revelyst in an all-cash transaction based on an enterprise value of $1.125 billion (the “SVP Transaction”).
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Tempur Sealy Announces Pricing of $1.6 Billion Term Loan B Facility
October 7, 2024Tempur Sealy International, Inc. (NYSE: TPX, "Company" or "Tempur Sealy") today announced that it has successfully priced its previously announced senior secured Term Loan B facility in an aggregate principal amount of $1.6 billion (the "Term Loan B").
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HSBC & Tradeshift Launch SemFi to Transform Business Finance
October 7, 2024HSBC has unveiled SemFi by HSBC, a new venture designed to revolutionise how businesses handle finance. A joint effort with global B2B trade network Tradeshift, SemFi aims to deliver seamless embedded finance solutions to companies across a variety of e-commerce platforms.
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VerticalScope Refinances Its Existing Senior Secured Credit Facility
October 7, 2024VerticalScope Holdings Inc. (“VerticalScope” or the “Company”) (TSX: FORA; OTCQX: VFORF) announced today that it had entered into a second amended and restated credit agreement (such agreement, the “A&R Credit Agreement”), amending and restating the Company’s existing credit agreement with Capital One (the “Existing Credit Agreement”).
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Consortium Led by Mason Capital Management to Acquire CB&I From McDermott
October 7, 2024A consortium led by Mason Capital Management LLC (“Mason”), in partnership with IES Holdings, Inc. (Nasdaq: IESC), Nut Tree Capital Management, LP, 683 Capital Management, LLC, First Pacific Advisors, and other investors, today announced that it has entered into a definitive agreement to acquire the CB&I storage solutions business.
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OpenAI Secures New Credit Facility Enhances Financial Flexibility
October 7, 2024In addition to securing $6.6 billion in new funding from leading investors, we have established a new $4 billion credit facility with JPMorgan Chase, Citi, Goldman Sachs, Morgan Stanley, Santander, Wells Fargo, SMBC, UBS, and HSBC. This is a revolving credit facility that is undrawn at closing.
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Prospect Capital Corporation Extends and Increases Revolving Credit Facility to Over $2.1 Billion of Aggregate Commitments
October 7, 2024Prospect Capital Corporation (NASDAQ: PSEC) (“Prospect”) extended and increased total commitments for its revolving credit facility (the “Facility”) for Prospect Capital Funding LLC, a GAAP consolidated subsidiary of Prospect, with the most recent upsize in the quarter ended September 30, 2024.
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Patrick Industries, Inc. Announces Private Offering of $400 Million of Senior Notes
October 7, 2024Patrick Industries, Inc. (NASDAQ: PATK) ("Patrick" or the "Company") today announced its intention to offer, subject to market conditions and other factors, $400 million aggregate principal amount of Senior Notes due 2032 (the "Notes") in a private placement exempt from registration under the Securities Act of 1933 ("Securities Act").
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Gopher Resource Announces Capital Raise to Refinance Existing Debt
October 7, 2024Gopher Resource (“Gopher” or the “Company”), a leading environmental solutions provider in the United States and a portfolio company of Energy Capital Partners (“ECP”), today announced the closing of a refinancing transaction of its outstanding debt. The transaction was led by a consortium of new and existing lenders including lead lender Silver Point Finance.
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Summit Partners Raises $9.5 Billion for Twelfth U.S. Growth Equity Fund
October 7, 2024Summit Partners, a global growth equity investment firm, today announced the closing of its latest flagship U.S. growth equity fund. Summit Partners Growth Equity Fund XII (“Summit XII”) launched fundraising in late April 2024 and held its closing after approximately five months with $9.5 billion in capital. Consistent with the firm’s prior funds, the general partner will be the single largest investor in Summit XII.
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