TSL Express Daily Articles & News
To submit company news and press releases to TSL Express, email tslexpress@sfnet.com.Today's Top Story
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Signature Bank Launches New National Business Line With Appointment of Healthcare Banking and Finance Team
Signature Bank (Nasdaq: SBNY), a New York-based, full-service commercial bank, announced today the launch of a new business line with the appointment of a nine-person Healthcare Banking and Finance (HBF) team. The new private client banking team will provide lending services while garnering deposits to clients within the healthcare arena.
Leading the new business and HBF team is Matthew T. Huber, recently named Senior Vice President and Managing Group Director. In this capacity, Huber will oversee all aspects of the HBF team, including managing the team’s pipeline and banking activities and building a healthcare-related portfolio spanning both lending and deposit clients.
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Bankruptcy & Restructuring - Where are we Now? Update 2022
The last two years have been a roller coaster for businesses. The early pandemic lockdowns initially wreaked havoc on small businesses; and then we saw what some consider to be a market overcorrection. Relief came in the form of PPP loans, Main Street Lending, and various other subsidies and programs. We look to the data – year over year commercial bankruptcy filings are down 31% and Chapter 11 filings are down 48%. Comparing 2021 to 2019, commercial bankruptcy filings are down 31% and Chapter 11 filings are down 33%.
TSL Express Daily Headlines & News
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CNH Finance Announces Over $40 Million in New Commitments Throughout Q1 2022
May 17, 2022CNH Finance is pleased to announce over $40 million in new commitments throughout Q1 2022, continuing its trend of solid portfolio growth. Recent financings include revolving line of credit facilities secured by AR and a term loan. Recent transactions support several skilled nursing facilities and other healthcare providers.
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SNC-Lavalin Extends its Corporate Credit Facilities and Incorporates a Sustainability-linked Framework that Further Advances its ESG Strategy
May 16, 2022Bank of Montreal, HSBC Bank Canada, Royal Bank of Canada, BNP Paribas, Canadian Imperial Bank of Commerce, National Bank Financial Markets, The Bank of Nova Scotia and TD Securities acted as Joint Bookrunners and Co-Lead Arrangers on the Revolving Credit Facility. National Bank Financial Markets, Bank of Montreal and The Bank of Nova Scotia acted as Joint Bookrunners and Co-Lead Arrangers on the Term Facility.
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Winston and Strawn Advises Brandshare
May 16, 2022Winston and Strawn advised Brandshare, a leading provider of omnichannel brand experiences through product sampling and digital engagement, in its sale to Advantage Solutions from private equity investors Aperion Management, Leeds Novamark Capital, and Ocean Avenue Capital Partners.
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SLR Equipment Finance, Formerly Known as Nations Equipment Finance, Expands its business Development Capabilities and Announces That Phil Priolo has Joined the Company
May 16, 2022SLR Equipment Finance is pleased to announce Phil Priolo has joined as a senior president of Business Development. In his role, Phil will help grow SLR Equipment Finance’s leasing and lending activities with equipment dealers along the east coast of the U.S. Phil began his career with Prime Financial Group Inc. He most recently was with DLL Finance.
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Alexander Litt Appointed Co-Chair Of The Membership Committee Of The Commercial & Federal Litigation Section Of The New York State Bar Association
May 16, 2022Moritt Hock & Hamroff LLP has announced that Alexander Litt, an associate of the firm, has been recently appointed to serve as Co-Chair of the Membership Committee of the Commercial & Federal Litigation Section of the New York State Bar Association (COMFED).
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J D Factors Announces Factoring Facilities
May 16, 2022J D Factors announced it has provided the following factoring facilities: $100,000 to a transportation company in Ontario; $350,000 to a transportation company in California; $500,000 to a transportation company in Wisconsin; $100,000 to a transportation company in British Columbia; $350,000 to a transportation company in Alberta.
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RealManage Announces the Successful Closing of up to $100M Debt Capital
May 16, 2022RealManage is pleased to announce the successful closing of up to $100 million of debt capital. On February 16, 2022, Prosperity Bank led and served as the administrative agent of the credit facility, which includes a syndicate of institutional lenders.
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GoldenTree Announces Closing of $599 Million CLO Under GLM Strategy
May 16, 2022GoldenTree Loan Management II ("GLM II") and its affiliated investment manager GoldenTree Asset Management LP (along with other affiliated investment managers "GoldenTree"), announced the closing of a $599 million collateralized loan obligation ("CLO") to be managed by GLM II.
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Smart for Life Executes Letter of Intent with Diamond Creek Capital for $4 Million Senior Credit Facility
May 16, 2022mart for Life, Inc. (Nasdaq: SMFL) (“Smart for Life” or the “Company”), a global leading developer, marketer, and manufacturer of nutritional and related products, announced today that it has executed a non-binding letter of intent with Diamond Creek Capital, LLC for the provision of a senior secured credit facility up to $4,000,000 principally to assist in its acquisition of 100% of the membership interests in Ceautamed Worldwide, LLC.
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Sol Gindi Named Head of Wells Fargo Advisors, Jim Hays to Retire
May 16, 2022Wells Fargo & Company today announced that Sol Gindi is the new head of Wells Fargo Advisors (WFA) and head of the Wealth & Investment Management (WIM) Client Relationship Group, reporting to Barry Sommers, head of WIM. In this role, Gindi will lead the Wells Fargo brokerage and wealth management channels, the independent business, and First Clearing. Every advisor leading a client relationship reports up to him.
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Pareteum to Use Voluntary Chapter 11 Process to Facilitate Efficient Sale Process and Position Business for Long-Term Success; Company to Maintain Operations as Usual
May 16, 2022Pareteum Corporation (OTC: TEUM) and certain affiliates (collectively, "Pareteum" or the "Company"), a global cloud Communications-Platform-as-a-Service (CPaaS) company, today announced that the Company filed for voluntary protection under Chapter 11 of the U.S. Bankruptcy Code ("Chapter 11") in the United States Bankruptcy Court for the Southern District of New York (the "Bankruptcy Court").
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Liquidibee Secures up to 50mm Credit Facility
May 16, 2022Liquidibee, one of the fastest growing U.S. specialty finance companies serving small- and medium-sized businesses "SMBs", announces the close of a multi-draw funding credit facility. The credit line will provide Liquidibee a same-day capital provider with borrowing capacity up to $50 million to expand on its current business operations and further strengthen Liquidibee's ability to provide immediate funding for SMBs throughout the US.
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Amerisource Closes $1,000,000 Credit Facility for Technology Firm
May 16, 2022Amerisource Business Capital announced the closing and funding of a $1,000,000 credit facility for a Maryland based data solutions firm. The proceeds were used to provide working capital for the company’s rapid growth.
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ARI Global & EX-IM Bank Combine in Support of Florida Exporter’s Rapid Growth
May 16, 2022A supplier of motor controls within the state of Florida partnered with ARI Global and the Export-Import Bank of the United States (EXIM Bank) to support the expansion efforts of their international sales. Through the creation of a program to insure the entire portfolio of Foreign Accounts Receivable, via single debtor limits and a discretionary credit limit, a local bank was willing to provide a credit-backed working capital line of the insured receivables.
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BHI Appoints Noam Katz as Head of High-Tech, First Vice President
May 16, 2022BHI, a full-service commercial bank, announced that it has appointed Noam Katz as Head of High-Tech, First Vice President. With a banking career that spans 15 years, Katz will oversee a team of relationship managers, as well as develop and manage BHI’s customer portfolio in the technology industry.
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SK Capital Announces Richard Jackson as Managing Director
May 16, 2022SK Capital Partners, LP (“SK Capital”), a private investment firm focused on the specialty materials, specialty chemicals and pharmaceuticals sectors, today announced the hiring of Richard Jackson as Managing Director, Head of Capital Markets.
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Allspring Global Investments Names Melissa Murphy to Lead PR
May 16, 2022Allspring Global Investments (Allspring), a leading independent asset manager with more than $541 billion in assets under management,* today announced a new senior hire on its corporate communications team.
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M&T Bank Names Michael Seaver Vermont Regional President and Head of Commercial Banking for the State
May 16, 2022Michael Seaver has been named Vermont Regional President and Head of Commercial Banking across the state for M&T Bank, a role he has held with People's United Bank since 2009. Seaver will ensure collaboration across all lines of business and community banking activities, providing value for customers, businesses and communities across the region.
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M&T Bank Names Frank Micalizzi Bridgeport Regional President and Head of Commercial Banking for Connecticut
May 16, 2022Frank Micalizzi has been named M&T Bank Bridgeport Regional President and Head of Commercial Banking for Connecticut. In his new role, Micalizzi will ensure collaboration across all lines of business and direct community banking activities that advance the bank's localized focus to provide more value for customers, businesses and communities throughout the region.
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Ametek Announces Amended Revolving Credit Facility
May 16, 2022AMETEK, Inc. (NYSE: AME) announced that it has completed an amended and restated Revolving Credit Facility increasing the size from $1.5 billion to $2.3 billion. The facility, previously due to expire in October 2023, now has a maturity date of May 2027. In conjunction with this expanded Revolving Credit Facility, AMETEK has terminated the $800 million delayed draw, bank term loan.
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The Secured Lender
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