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- MidCap Financial Announces Key Leadership Appointments as Part of Planned Succession
- Brean Capital Extends and Upsizes Corporate Note to $30 Million for North Mill
- TAB Bank Extends a $15 Million Asset-Based Lending Facility to Gehr Industries
- Brean Capital to Acquire Depository & Insurance Investment Banking, Equity Research, and Institutional Equity Sales Businesses from Janney Montgomery Scott
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STX Group Announces Innovative €150M Credit Facility as Global Banks Support Energy Transition
STX Group (STX), a leading global environmental commodity trader and climate solutions provider, has closed an up-to EUR 150 million syndicated borrowing base credit facility to foster the rapid expansion of its business operations. The credit facility, which was comfortably oversubscribed, has the unique quality of being partially secured by a diverse portfolio of environmental commodities.
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Eileen Kowalski is SVP and manager of Training, Development, Quality Control, Recruiting and Diversity & Inclusion for PNC Business Credit.
Kowalski is a 30-plus year veteran of commercial finance and asset-based lending. She is integral to PNCBC’s Field Exam training program and to the team tasked with developing talent for PNCBC. Eileen joined PNCBC in 2004 as an AVP & Senior Field Examiner after serving as a Field Examiner for a predecessor bank of M&T Bank and an AVP & Senior Field Examiner with LaSalle Bank. Eileen’s responsibilities also include field exam quality control, campus and experienced hire recruiting activities and she serves as editor-in-chief for the quarterly PNCBC employee newsletter. She chairs the Business Credit D&I Committee and is a member of the C&IB/AMG DEI Council. Eileen is a member of the SFNet Education Committee, the SFNet DEI Committee and is the SFNet Education Champion for PNCBC. She is also a member of the quarterly WISF Newsletter committee.
TSL Express Daily Headlines & News
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Spearmint Energy Secures $47.5 Million Project Finance Term Loan from Manulife for Battery Energy Storage Project in ERCOT
February 7, 2024Spearmint Energy (“Spearmint” or the “Company”), a next-generation renewable energy company enabling the clean energy revolution through battery energy storage, today announced it has successfully closed a $47.5 million project finance term loan from Manulife, a global financial services provider. The term loan will support the commercial operation of Revolution, Spearmint’s 150 MW, 300 MWh battery energy storage system (“BESS”) project located in West Texas’ ERCOT power market.
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Quasar Capital Welcomes Tanya Fontenot as Vice President of Business Development
February 7, 2024Quasar Capital Partners proudly announces the appointment of Tanya Fontenot as the new Vice President of Business Development. Based in Baton Rouge and with over 17 years of experience in the finance industry, Tanya brings a wealth of knowledge and a proven track record of success in banking, factoring, and commercial finance.
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Georgia Banking Company Announces Strategic Leadership Changes to Support Continued Growth
February 7, 2024In response to the remarkable growth experienced by Georgia Banking Company (GBC) over the last three years, the organization is proud to announce strategic leadership changes that reflect its commitment to maintaining momentum and focusing on key strategic priorities.
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Iron Horse Credit Provides a $1 Million Inventory Line of Credit to a Wholesaler of Men's Designer Shoes
February 7, 2024Iron Horse Credit (“IHC”), a leading inventory lender, is pleased to announce the closing of a $1,000,000 stand-alone inventory revolving line of credit to a wholesaler of men's designer shoes.
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San Diego Business Journal Names Schultz and Jackson 2024 Women of Influence in Accounting & Finance
February 7, 2024CohnReznick LLP, one of the leading advisory, assurance, and tax firms in the United States, today announced that Kayla Schultz, Partner, and Michelle Jackson, Manager, have been recognized by the San Diego Business Journal as Women of Influence in Accounting & Finance for 2024.
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John Trendell Joins OCF as Senior Business Development Officer
February 7, 2024John Trendell brings a proven track record in business development and over 22 years of experience in all aspects of Asset-Based Lending (ABL) and Accounts Receivable Financing to his new role as OCF’s VP, Senior Business Development Officer.
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DMC Global Closes $300 Million Senior Secured Credit Facility
February 7, 2024DMC Global Inc. (Nasdaq: BOOM) today announced it has closed a $300 million, five-year senior secured credit facility consisting of a $200 million revolving credit facility, a $50 million term loan and a $50 million delayed draw term loan. The facility replaces DMC’s prior $200 million credit facility.
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Barclays Appoints Na Wei as Global Head of Leveraged Finance
February 7, 2024Barclays today announces the appointment of Na Wei as Global Head of Leveraged Finance, reporting to Travis Barnes and Tom Johnson, Global Co-Heads of Capital Markets at Barclays.
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Capstone Partners Strengthens Industry Coverage for 2024 with Additional Agriculture and Industrial Technology Expertise
February 7, 2024Capstone Partners, a leading middle market investment banking firm, is pleased to announce the appointment of three seasoned M&A advisory professionals as new Managing Directors on its industry banking teams. Steven Dana will join the firm's Industrial Technology Investment Banking Group and Jerry Sturgill and Skye Root will join the firm's Agriculture Investment Banking Group, enhancing the firm's substantial portfolio of specialized sector knowledge.
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PineBridge Private Credit Closes Oversubscribed Third Direct Lending Fund
February 7, 2024PineBridge Investments (“PineBridge”), a private, global asset manager focused on active, high-conviction investing, today announced the final close of PineBridge Private Credit III (“Fund III”) as of 30 January 2024, as part of the firm’s lower-middle-market direct lending strategy. Inclusive of fund-level leverage, the Private Credit team raised $1.7 billion1 of capital in Fund III, above its target size of $1.0 billion. This latest close brings the total Private Credit platform to $5.0 billion.2
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Legacy Corporate Lending Further Expands Leadership Team with Appointment of Margaret Ceconi as Executive Vice President
February 7, 2024Legacy Corporate Lending, LLC (“Legacy”), an independent asset-based lending (ABL) company focused on serving the needs of middle market companies across North America, today announced the appointment of Margaret Ceconi as Executive Vice President, Portfolio & Underwriting.
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Ocorian Expands Global Regulatory and Compliance Team With Bovill Acquisition
February 7, 2024Ocorian, the specialist global provider of financial and corporate administration services and regulatory solutions to financial institutions, asset managers, corporates and high net-worth individuals, has completed the acquisition of specialist regulatory consultancy Bovill.
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First Citizens Bank Provides $22.5 Million for Orlando Ambulatory Surgery Center
February 6, 2024First Citizens Bank today announced that it has provided $22.5 million in financing for the development of a new outpatient surgery center in Orlando, Florida.
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SMBC Americas Continues Expansion With Senior High Yield and Leveraged Finance Hires
February 6, 2024Sumitomo Mitsui Banking Corporation (SMBC) Americas Division today announced the appointment of Clarke Adams as Head of High Yield Capital Markets and Matt Burke as Head of Leveraged Finance Origination. Additionally, Clarke joins Miguel Roman as Co-Head of Leveraged Capital Markets.
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Coherus Amends Term Loan Agreement with Pharmakon Advisors, LP
February 6, 2024Coherus BioSciences, Inc. (“Coherus,” NASDAQ: CHRS) today announced it has entered into an agreement with Pharmakon Advisors, LP to revise the terms of its loan agreement entered in January 2022. Following the closing of the previously announced divestiture of the ophthalmology franchise to Sandoz, Coherus plans to prepay $175 million of $250 million principal balance in Q2 2024, leaving a residual balance of $75 million and reducing projected annual interest payments by about 70%.
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Richard F. NeJame Joins England & Company to Expand Capital Structure Advisory Practice
February 6, 2024England & Company, a leading independent investment bank, announced today that Richard F. NeJame has joined the firm to enhance its Capital Structure Advisory Practice, focusing on corporate restructuring and special situations. Mr. NeJame brings over 25 years of experience advising leveraged and distressed corporate clients, as well as institutional, private equity, and other investing clients.
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Axiom Bank, N.A. Provides $10 Million for Purchaser and Collection Management of Medical Receivables
February 6, 2024Axiom Bank, N.A. announced it has provided a $10 million revolving line of credit for a company that is a purchaser and collection management of medical receivables.
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Republic Business Credit Provides $12.5 Million Asset-Based Loan to Illinois-based Food Manufacturer and Distributor
February 6, 2024In January 2024, Republic Business Credit financed a $9.0 million revolver and a $3.5 million real estate term loan for a family-owned, Illinois-based food manufacturing company.
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J D Factors Provides $7.5 Million in New Factoring Facilities to 26 New Clients in January
February 6, 2024J D Factors provided $7,555,000 in new factoring facilities to 26 new clients in the US and Canada during the month of January. Some of these facilities include: a $500,000 factoring facility for a transportation company in South Carolina; $1,500,000 factoring facility for a gas detection sensor manufacturing company in Nevada.
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First Business Bank’s Asset-Based Lending Team Funds $8 Million Credit Facility For Restructuring
February 6, 2024Mike Colloton, Vice President – Asset-Based Lending at First Business Specialty Finance, LLC, a subsidiary of First Business Bank, announces a recently closed and funded $8,000,000 revolving line of credit, equipment term loan, and a capital expenditure equipment loan to a healthy snack food manufacturer in Wisconsin for restructuring.
The Secured Lender
SFNet's The 81st Annual Convention Issue
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