- SLR Business Credit Provides $10 Million Senior Secured Asset-Based Credit Facility to a European Foods Importer
- Sallyport Commercial Finance Provides $2MM Factoring Facility to a Canadian Printing Company
- Shane McDonald Joins Cahill’s London Office as Leveraged Finance Partner
- Citizens Serves as Exclusive Financial Advisor to Lync Health Partners on its Majority Recapitalization by United Surgical Partners International
- CIBC Innovation Banking Provides Growth Capital to REG Technologies
TSL Express Daily Articles & News
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Valley Bank Hires Matthew Weidle to Lead Chicago and Midwest Markets
Valley Bank, a regional bank with operations along key East Coast markets and California, is expanding its Chicago office with the hiring of Matthew Weidle as First Senior Vice President and Midwest Regional President.
In this new role, Weidle will focus on expanding Valley’s Commercial Banking presence in the Chicago market and Midwest region. Valley inherited the talented and well-established Commercial Banking team through Valley’s merger with Bank Leumi USA in April 2022.
In this new role, Weidle will focus on expanding Valley’s Commercial Banking presence in the Chicago market and Midwest region. Valley inherited the talented and well-established Commercial Banking team through Valley’s merger with Bank Leumi USA in April 2022.
TSL Express Trending Story
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Since the COVID-19 shutdowns, discussions about supply chain and inventory levels have focused on the need to build inventories to offset supply chain risk. Companies have replaced just in time inventory approaches with higher inventory levels to offset the supply chain problems. In addition to building inventory quantity levels, the per unit value of the inventory has been increasing as evidenced by inflation at 40-year highs. The June CPI was 9.1% and the June PPI was 11.3%.
TSL Express Daily Headlines & News
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Altriarch Empowers Dozens of Businesses Through Innovative Finance Strategies for Factors
May 6, 2024
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Ambri Agrees to Terms of Proposed Sale with Lender Consortium
May 6, 2024-Ambri, the provider of long-duration Liquid Metal™ battery storage systems, today announced that it has agreed to the terms of a stalking horse purchase agreement with a consortium of its lenders (the "Lender Consortium"), pursuant to which the Lender Consortium would acquire substantially all of the assets of the Company, subject to higher and better bids from other parties during an expedited sale process.
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EyeCare Partners Announces Refinancing Transaction Completion
May 6, 2024EyeCare Partners LLC ("EyeCare Partners", or the "Company"), the nation’s leading provider of clinically integrated eye care, announced today it has closed a follow-on debt exchange with holders of its existing term loans following an initial debt exchange closed in April.
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KKR to Acquire Healthium from Apax Funds
May 6, 2024KKR, a leading global investment firm, today announced the signing of definitive agreements under which funds managed by KKR will acquire Healthium Medtech Ltd. (“Healthium”), a leading Indian medical devices company, from an affiliate of Funds advised by Apax Partners LLP (“Apax”), a leading global private equity advisory firm.
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Latham Advises JOANN in Successful Emergence From Financial Restructuring Process
May 6, 2024JOANN, the nation’s category leader in sewing and fabrics with one of the largest arts and crafts offerings, has announced it has successfully emerged from its court-supervised financial restructuring process, and has substantially reduced its funded debt by half while further enhancing its liquidity through a US$153 million exit financing facility that replaces the previously announced debtor-in-possession financing.
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Apparel Retailer rue21 Files for Third Bankruptcy, Will Close all Stores
May 6, 2024Teen apparel retailer rue21 (RUET.UL) filed for Chapter 11 bankruptcy protection for a third time on Thursday, seeking to shut down its 540 stores and sell its intellectual property.
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LSQ Creates $2MM in Invoice Finance Facilities for New York-based Software Companies
May 6, 2024LSQ, a leading provider of working capital and payments management solutions, recently originated twin $1 million accounts receivable finance facilities ($2 million total) for sister software firms offering access management SAAS solutions for numerous industry verticals.
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Red River West Strengthens With the Arrival of two new Strategic Partners
May 6, 2024Red River West (RRW), a transatlantic venture capital fund supporting ambitious European startups looking to expand into the American market, continues its development today with the reinforcement of two exceptional profiles: Matthieu Bucaille and Yves Sisteron, who join the company as Strategic Partners.
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U.S. Bancorp Promotes Gunjan Kedia to President
May 6, 2024U.S. Bancorp (NYSE: USB), parent company of U.S. Bank, announced today that Gunjan Kedia will be its new president, reporting to Andy Cecere, who will retain the title of chairman and CEO.
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Bowman Closes On $100 Million Revolving Credit Agreement
May 6, 2024Bowman Consulting Group Ltd. (“Bowman” or “the Company”) (NASDAQ: BWMN), today announced it entered into a $100 million aggregate revolving credit agreement with Bank of America, N.A, as Administrative Agent, and TD Bank, N.A., as Syndication Agent (the “Credit Agreement”).
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Charles River® Appoints Vin Bhat as New Head of Asia-Pacific
May 6, 2024Charles River Development (CRD), a State Street Company, has appointed Vinayak Bhat (Vin) as senior vice president (SVP), head of Asia Pacific (APAC), where he will be responsible for all business oversight within the region and collaboration with State Street Alpha®, the first front-to-back asset servicing platform from a single provider for institutional investors.
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Bastion Management Closes $50 Million Facility with Cashco Financial
May 6, 2024Bastion Management ("Bastion"), a private investment firm focused on asset-based lending in the specialty finance sector, announced today that it agented a senior debt investment of $50 million in Cashco Financial ("Cashco") to refinance an existing senior lender and fund future growth of their Canadian consumer lending portfolio.
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KeyBank Survey Finds Signs of Confidence with Small Business Owners Coupled With Concerns about Inflation, Fraud and Political Noise
May 6, 2024Often the first to feel the effects of inflation and economic volatility, small business owners are optimistic about their businesses, even as economic challenges remain. KeyBank's 2024 Small Business Survey found that 65% of small business owners feel confident they could fund their operating expenses for one month with their cash reserves, if an unexpected need arose.
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Sunflower Bank Announces Expansion in Southern California With Hiring of Regional President James Canepa and Experienced Commercial Banking Teams
May 6, 2024James Canepa joined Sunflower Bank in April 2024 to lead the new teams as Executive Vice President & Regional President. In this role, Canepa is responsible for the strategy, management and growth of Sunflower Bank’s commercial banking, private banking and wealth management services in greater Los Angeles, Riverside, San Bernadino, Orange and San Diego Counties.
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Edelstein & Company Combines with EisnerAmper
May 6, 2024Global business advisory firm EisnerAmper announces that the partners and colleagues of Boston, Massachusetts-based CPA firm Edelstein & Company, LLP, are joining EisnerAmper in a combination expected to close in June 2024.
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SVB Financial Group Enters into Definitive Agreement for the Sale of SVB Capital
May 6, 2024SVB Financial Group (Pink Sheets: SIVBQ) today announced that it has entered into a definitive agreement under which a newly created entity affiliated with Pinegrove Capital Partners ("Pinegrove") and backed by permanent capital from Brookfield Asset Management ("Brookfield") and Sequoia Heritage, will acquire the Company's investment platform business, SVB Capital.
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1st Source Corporation Announces the Promotion of Andrea Short to President
May 6, 2024Christopher J Murphy III, Chairman and CEO of 1st Source Corporation and Chairman of 1st Source Bank announced today that as part of 1st Source’s long-term succession planning, the Board of 1st Source promoted Andrea G. Short to President of 1st Source Corporation.
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Encina Lender Finance Provides $25 Million Senior Credit Facility to Consumer Unsecured Installment Lending Platform
May 6, 2024Encina Lender Finance, LLC announced today that it has closed a $25 million senior credit facility for a consumer unsecured installment lending platform with a 20+ year track record.
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Davis Polk Welcomes Leading Finance Partner Luke McDougall in London
May 2, 2024Davis Polk today announced that prominent leveraged finance practitioner Luke McDougall will join the firm as a partner in the Finance practice based in London.
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eCapital Injects $5MM Funding Boost, Paving the Way for Medical Supplier's US Debut
May 2, 2024eCapital Corp. (“eCapital”), a leading tech-enabled finance provider specializing in tailored solutions for businesses across North America and the United Kingdom, is pleased to announce the closing of a $5 million non-notification ledger line factoring facility for a private equity-backed medical supply company.
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