- J D Factors Provided $11.2 Million in new Factoring Facilities to 44 New Clients in the US and Canada in June
- Atlas Grove Announces Court Approval of $180 Million Financing Commitment for Harvest Sherwood Bankruptcy Estate
- Sterling Announces Extension and Expansion of Credit Facility to $1.5 Billion
- MarineMax Refinances $1.49 Billion Senior Secured Credit Facilities
- Florida-Based Private Label Company Secures $750,000 Facility from Prestige Capital Through Bank-Enabled Spot Financing Program
TSL Express Daily Articles & News
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Truist Names Beau Cummins Chief Operating Officer and Dontá Wilson Chief Consumer & Small Business Banking Officer; Hires Kristin Lesher as new Chief Wholesale Banking Officer
Truist Financial Corporation (NYSE: TFC) today announced continued progress in the company's transformation journey with the creation of a chief operating officer position, the naming of a new chief consumer & small business banking officer and the hiring of a new chief wholesale banking officer.
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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Associated Bank Announces Trier and Warsek to Join Executive Leadership Team
October 31, 2024Associated Banc-Corp (NYSE: ASB) ("Associated") announced today the appointment of Phillip Trier and Gregory Warsek to its Executive Leadership Team (ELT), effective November 1, 2024.
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CIBC Innovation Banking Provides Procurify with US$20 Million in Growth Capital
October 31, 2024CIBC Innovation Banking announced today it has provided US$20 million in growth capital to Procurify, a leader in proactive spend management solutions. This funding will support Procurify’s continued development of innovative procurement technologies and its mission to enhance organizational spend transparency and efficiency.
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Latham & Watkins Advises PL Developments on Successful Corporate Debt Refinancing
October 31, 2024PL Developments (PLD), a leader in the development, manufacturing, packaging, and distribution of consumer healthcare products, has announced the successful completion of its offer to exchange US$350 million aggregate principal amount of its outstanding 7.750% senior secured notes due 2025 for new PIK toggle senior secured notes due 2029 in an aggregate principal amount of US$368.55 million.
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TAB Bank Secures Nearly $100 Million in Q3 Financing Deals, Empowering 385 Businesses Nationwide
October 31, 2024TAB Bank successfully closed $98.4 million in credit facilities across 385 deals during the third quarter of 2024. The financing includes a diverse range of loans such as working capital, equipment, commercial real estate, small business lines of credit and accounts receivable funding across numerous sectors, including homeware, restaurant, manufacturing, real estate, transportation, and more.
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Ares Capital Corporation Appoints Jim Miller as Co-President
October 31, 2024Ares Capital Corporation (“Ares Capital”) (NASDAQ: ARCC) announced today that James (“Jim”) R. Miller was appointed as Co-President to serve alongside current Co-President, Kort Schnabel. Concurrently, Ares Capital’s Board of Directors was expanded by one member. Mitchell (“Mitch”) Goldstein joined Ares Capital’s Board of Directors, and Mitch Goldstein and Michael L. Smith have been appointed to serve as Co-Chairmen of Ares Capital’s Board of Directors.
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SLR Credit Solutions Provides Unitranche Credit Facility
October 31, 2024SLR Credit Solutions has structured a unitranche asset-based credit facility to support Directional Capital’s acquisition of a collection of rent-to-own retail locations across the New York and New Jersey markets, via a new entity known as Purple Apple.
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Diamcor Announces Term Loan Financing to Expedite Increased Processing at Krone-Endora
October 30, 2024Diamcor Mining Inc. (TSXV:DMI)(OTCQB:DMIFF)(FRA:DC3A), ("Diamcor" or the "Company"), a well-established Canadian diamond mining company with a proven history in the mining, exploration, and sale of rough diamonds, announces that the Company intends to complete a term loan financing (the "Financing") of up to CAD$1,500,000.
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Oportun Announces Next Step to Optimize Capital Structure and Drive Improved Profitability
October 30, 2024Oportun (Nasdaq: OPRT) ("Oportun", or the "Company"), a mission-driven financial services company, announced today another important step in its plans to optimize the Company’s capital structure and drive improved profitability. Following an extensive review of a range of alternatives led by the Board of Directors, Oportun has entered into a Credit Agreement to refinance its existing corporate financing facility with a new $235 million Senior Secured Term Loan (“Term Loan”).
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eCapital Secures $100 Million Junior Capital Facility Increase from Ares Management, Amplifying Strategic Growth
October 30, 2024eCapital Corp. (“eCapital”), a leading technology-enabled provider of financing to small and medium-sized businesses (SMBs) across North America and the U.K., has closed a $100 million increase to its existing secured junior capital facility with Ares Management Credit funds (“Ares”), bringing the total facility size to in excess of $330 million.
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RelPro Partners with CRB Monitor to Add Cannabis Industry Data
October 30, 2024RelPro, the fast-growing business development and relationship management solution for Financial & Professional Services, announced today its latest partnership with CRB Monitor, introducing cannabis-related business insights as the latest data addition to the RelPro platform.
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First Citizens Bank Offering Tax Equity Investments in Renewable Energy Projects
October 30, 2024First Citizens Bank today announced that its Energy Finance business is introducing a new tax equity investment product to help finance renewable energy projects.
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LBC Capital and Northpoint Commercial Finance Brands Merge
October 30, 2024Laurentian Bank (TSX: LB) is proud to announce its LBC Capital and Northpoint Commercial Finance (Northpoint) subsidiaries are uniting under one brand, Northpoint Commercial Finance, as of November 1, 2024. The merging of these two brands is a natural and anticipated evolution of this business, allowing for streamlined efficiencies and offerings for its customers throughout North America.
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o15 Capital Partners Provides Financing for Pediatric Dental Services Company
October 30, 2024o15 Capital Partners ("o15"), through its o15 Emerging America Credit Opportunities ("EACO") fund, is pleased to announce it has provided incremental debt financing and an equity co-investment totaling $25 million to a dental services organization ("DSO") primarily serving pediatric Medicaid patients (the "Company") to provide runway for future growth.
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Blackstone Closes First Series of Evergreen Institutional U.S. Direct Lending Fund with $22 Billion of Investable Capital
October 30, 2024Blackstone today announced the final close of the first series of its evergreen institutional U.S. direct lending fund, Blackstone Senior Direct Lending Fund (“BXD”). Blackstone has closed on approximately $22 billion of investable capital for the inaugural series of BXD and related vehicles, including anticipated leverage, exceeding our $10 billion target.
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Allied Credit Selects Solifi’s End-to-End Automotive Lease Solution
October 30, 2024Solifi, a global fintech software partner for secured finance, announced that Allied Credit Group, an Australian-based automotive and equipment finance organization, will implement the company’s Open Finance Platform SaaS solutions in support of its Automotive novated lease offering.
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RYAM Raises $700 Million of Debt to Refinance its Capital Structure
October 29, 2024Rayonier Advanced Materials Inc. (NYSE: RYAM) (the “Company” or “RYAM”), the global leader in High Purity Cellulose, announced it has raised $700 million in aggregate principal amount of secured term loan financing (the “Term Loan”) from funds managed by Oaktree Capital Management, L.P., as lead lender, as well as certain affiliates and managed funds of Silver Point Capital, L.P. and Blue Torch Capital LLC.
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Patrick Closes on $500M Offering; Secures $1B Credit Facility
October 29, 2024Patrick Industries, Inc. (NASDAQ: PATK) announced the closing on Oct. 22 of its previously announced private offering of $500 million aggregate principal amount of 6.375% Senior Notes due 2032, at an issue price of 100% of the principal amount of the Notes, in a private placement exempt from registration under the Securities Act of 1933.
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MMP Capital Closes $20.0 Million Investment-Grade Corporate Note Financing
October 29, 2024MMP Capital, LLC (MMP), an independent equipment leasing company, announced the recent closing of a $20.0 million investment-grade corporate note issuance. Proceeds from the BBB-rated transaction will support continued growth, primarily by funding new originations.
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King Trade Capital Provides a Seasonal $2.5MM PO Finance Facility
October 29, 2024King Trade Capital is pleased to announce the completion of a $2.5MM purchase order finance facility for a returning client in support of their seasonal sales needs. An old client that KTC has financed in several different businesses, contacted King Trade Capital to help provide a PO finance solution in support of their growing holiday sales.
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Winston & Strawn LLP Advises in a Landmark Telecom Transaction Across Central America
October 29, 2024Winston & Strawn LLP advised Millicom International Cellular S.A. (Millicom) in an agreement with SBA Communications Corporation (SBA Communications) to sell and leaseback a tower portfolio of approximately 7,000 towers in Guatemala, Honduras, Panama, El Salvador, and Nicaragua for approximately US$975 million.
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