- Gateway Completes a Record 39 Stretch Deals in 45 Days Totaling $15 Million
- SEC Senior Trial Attorney Emmett Murphy Rejoins King & Spalding in New York
- SSG Advises Navidea Biopharmaceuticals in the Sale of Substantially All Assets to Cardinal Health
- Prestige Capital Appoints David B. Culotta as Chief Operating Officer
- Eclipse Business Capital Closes $30 Million ABL Credit Facility to Health & Beauty Industry
TSL Express Daily Articles & News
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Encina Lender Finance Continues Leadership Expansion with Addition of Four Seasoned Industry Veterans
Encina Lender Finance, LLC (ELF) announced today the continued expansion of its leadership team with the addition of four seasoned industry veterans. ELF is joined by Rick Snyder as head of Originations for the Consumer Vertical, Aharon Tarnavsky as head of Originations for the Commercial Vertical, Kathy Myers as managing director of Risk, and Megan McKinless as director of Syndications.
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Conference Aims to Set New Strategies for the New World
Now three years since the onset of the global pandemic, the asset-based capital market, like so many others, finds itself at a new beginning. While the economy and environment continue to shift, the asset-based capital community has taken uncertainty into account for its business plans as it marches into a new year. SFNet’s ABCC theme, “The Great Reboot,” is about setting new strategies for a new world.
“We’ve been able to bring together some of the best minds in the space to help us put these changes in context and offer practical implications for our business plans going forward,” Rich Gumbrecht, SFNet CEO, said. I don’t know if we’ve ever had a more august set of speakers. You’ll want to take good notes.”
TSL Express Daily Headlines & News
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Austin Financial Services Closes $12MM Credit Facility to Manufacturer of Textile Floor Coverings
July 30, 2024Austin Financial Services, Inc. (AFS) is pleased to announce the closing of a $12MM asset-based lending (ABL) facility. The financing solution, which was extended to a family office-owned manufacturer of yarns and textile floor coverings, includes an AR and Inventory revolver, alongside a Machinery and Equipment term loan.
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Womble Adds Government Contracts Partner in Huntsville
July 30, 2024Womble Bond Dickinson announced today that Jon Levin has joined the firm’s Huntsville, Alabama, office as a partner in the Corporate and Securities group. Jon has practiced government contracts law for over two decades. He has successfully represented clients in hundreds of bid protests at the Court of Federal Claims and Government Accountability Office, appeals before the Federal Circuit, and on size and status matters before the Small Business Administration.
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Flatbay Capital Welcomes Adam Reese to the Team
July 30, 2024Adam is no stranger to the commercial real estate industry. His experience includes lending, originations, underwriting and brokerage in Denver, New York, and Kuala Lumpur, Malaysia. In his 18 years, he’s held the positions of Vice President, Relationship Manager, Senior Commercial Lender, Senior Business Development Manager and Account Executive at respective companies.
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Sallyport Commercial Finance Provides $900,000 for Toy Distributor
July 30, 2024Sallyport Commercial Finance is pleased to announce that a leading toy distributor has secured $900,000 in funding. This funding package includes a $750,000 accounts receivable (AR) facility and a $150,000 inventory facility.
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CIT Commercial Services Provides Up to $48 Million in Financing to Crown Crafts
July 30, 2024First Citizens Bank today announced that its CIT Commercial Services unit provided up to $48 million in financing to Crown Crafts Inc. (NASDAQ-CM: CRWS), one of America’s largest producers of infant bedding, toddler bedding, bibs, toys and disposable products.
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Renasant Corporation to Acquire The First Bancshares, Inc.
July 30, 2024Renasant Corporation (NYSE: RNST) (“Renasant”) and The First Bancshares, Inc. (“The First”) (NYSE: FBMS) jointly announced today that they have entered into a definitive agreement and plan of merger, pursuant to which The First will merge with and into Renasant (the “Merger”) in an all-stock transaction valued at approximately $1.2 billion, based on Renasant’s closing stock price as of July 26, 2024.
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Citizens Business Conditions Index™ Jumps in Q2
July 30, 2024The national Citizens Business Conditions Index™ (CBCI) rose to 52.2 in the second quarter, pushing into expansionary territory after taking a step back at the beginning of the year. The reading above 50 indicates that economic momentum is building, in this case due to higher company revenue coupled with the prospect of easing monetary policy, which lowers the cost of capital.
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Churchill Serves as Joint Lead Arranger and Administrative Agent for a Senior Secured Credit Facility to Support TJC’s Acquisition of Insulation Technology Group
July 30, 2024Churchill Asset Management (“Churchill” or the “Firm”) today announced that it served as Joint Lead Arranger and Administrative Agent for a senior secured credit facility to support the acquisition of Insulation Technology Group (“ITG” or the “Company”) by TJC, LP (“TJC”).
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Portman Ridge Finance Corporation Amends and Extends Its Senior Secured Revolving Credit Facility
July 30, 2024Portman Ridge Finance Corporation (Nasdaq: PTMN) (the “Company”) today announced that it has amended and extended its existing senior secured revolving credit facility (“Credit Facility”) with JPMorgan Chase Bank, National Association (“JPM”).
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Achieve Life Sciences Announces $20M Loan Refinancing with Silicon Valley Bank
July 30, 2024Achieve Life Sciences, Inc. (Nasdaq: ACHV), a late-stage pharmaceutical company committed to the global development and commercialization of cytisinicline for smoking cessation and nicotine dependence, today announced that it has entered into a $20 million debt refinancing agreement with Silicon Valley Bank (SVB), a division of First-Citizens Bank.
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Fifth Third Bank Joins Wells Fargo to Increase ExchangeRight REIT Credit Facility to $100 Million
July 30, 2024ExchangeRight, one of the nation's leading providers of diversified real estate DST and REIT investments, has announced that Fifth Third Bank has joined Wells Fargo as a co-lender on ExchangeRight's Essential Income REIT's revolving line of credit and has increased the current credit capacity to $100 million. This closing strategically expands the REIT's credit access, adding to the recently announced Credit Facility with Wells Fargo for $75 million.
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Grant Thornton Names 56 New Partners, Principals and Managing Directors
July 30, 2024Grant Thornton, one of America’s largest brands of professionals providing end-to-end audit, assurance, tax, and advisory services, has admitted its annual class of new partners and principals, and promoted a group of professionals to managing directors.
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Peakstone Realty Trust Amends and Extends Credit Facility
July 29, 2024Peakstone Realty Trust (the "Company") (NYSE: PKST), a real estate investment trust that owns and operates a high-quality, newer-vintage portfolio of predominantly single-tenant industrial and office properties, today announced the successful closing of an amended and extended $907 million unsecured credit facility, underscoring the strength of its balance sheet and high-quality portfolio.
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Michael Cardello III Elected Chair Of The Commercial & Federal Litigation Section Of The NYSBA
July 29, 2024Moritt Hock & Hamroff announced today that Michael Cardello III, the firm’s Managing Partner, has been elected to serve as Chair of the Commercial & Federal Litigation Section of the New York State Bar Association (NYSBA). This Section seeks to improve the quality of client representation and enhance the administration of justice in the areas of commercial and federal litigation.
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Great Rock Capital Provides $75 Million of Capital to NWI Aerostructures
July 29, 2024Great Rock Capital, an asset-focused commercial finance company specializing in middle market lending, today announced that they have provided $75 million in total capital to three NWI affiliates.
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Refresco Successfully Completes EUR 400 Million Term Loan B
July 29, 2024Refresco, the global independent beverage solutions provider for retailers and global, national, and emerging (GNE) brands in Europe, North America, and Australia, today announces it has successfully completed a EUR 400 million Term Loan B.
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Diana Shipping Inc. Announces Signing and Drawdown of a US$167.3 Million Term Loan Facility With Nordea Bank to Refinance Two Existing Term Loan Facilities With Nordea
July 29, 2024Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, today announced the successful signing of a US$167.3 million six-year secured term loan facility with Nordea Bank Abp, filial i Norge on July 25, 2024. The full amount was drawn down immediately.
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American Express Global Business Travel Announces Refinancing of its Existing Credit Facility
July 29, 2024--American Express Global Business Travel, which is operated by Global Business Travel Group, Inc. (NYSE: GBTG) (“Amex GBT” or the “Company”), a leading software and services company for travel, expense, and meetings and events, today announced that it entered into an amended and restated credit agreement, which provides for a principal amount of $1,400 million senior secured first lien term loan facility, maturing on July 26, 2031, and a $360 million senior secured first lien revolving credit facility, maturing on July 26, 2029.
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Small Business Owners Depend on Access to Capital But Struggle to Find Ideal Solution, Study Finds
July 29, 2024Today, Lendio released its inaugural State of SMB Lending report. In the survey of over 1000 small business owners, 68% of small businesses say access to financing is the most important factor in the growth of their businesses. While respondents expressed confidence in their ability to access capital, they said the loan amount and term often fall below their expectations.
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Iron Horse Credit Secures a $40 Million Senior Credit Facility and $5MM of Subordinate Capital
July 29, 2024Iron Horse Credit (“Iron Horse”), a leading non-bank, asset-based lender, is pleased to announce it has secured a $40MM senior credit line from Forbright Bank and MA Asset Management (formerly Blue Elephant Capital Management) with an additional $30MM accordion. I
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