Newbridge Global Sourcing (“Newbridge”), a leading capital provider to small and medium-sized businesses with supply chain and purchase order financing needs, announced a $50 million partnership with a Canadian-based originator of receivables. The technology-enabled specialty lender provides receivables financing to companies with strong end-debtors. The partnership expands Newbridge’s scale and diversifies its customer base and sector exposure.
TSL Express Trending Story
SFNet's 75th Annual Convention featured a fantastic lineup of thought leaders whose insights helped attendees see around corners and make the best decisions for their business. From leading private debt and equity players and supply chain experts to M&A advisors, ground-breaking economists and the best minds in the legal community, industry authorities shed light on the issues affecting attendees' business now and in the future. The latest data and forecasts including all new studies dimensioning the secured finance market and examining its inter-relationships was also presented. Whether an ABL lender, factor, advisor, intermediary or other, there was something for everyone in our Network.
TSL Express Daily Headlines & News
Blacksail Capital Partners Closes $5,875,000 Credit Facility for Industrial Plant Completion
December 5, 2019Blacksail Capital Partners announced the closing and funding of a $5,875,000 senior credit facility for a sponsor owned Industrial Manufacturer based in North Carolina. Proceeds of this term loan are being used for the completion of a brand new manufacturing facility and to support working capital for future growth.
Huntington Business Credit Announces Credit Facilities
December 5, 2019Huntington Business Credit announced it closed a new $40,000,000 credit facility with TeleTracking Technologies, Inc. on October 23, 2019 and closed new $37,240,000 credit facilities with Laminate Technologies, Inc. on October 29, 2019.
Bridge Bank Extends $4MM Senior Debt Facility to Factor 75 LLC
December 5, 2019Bridge Bank today announced it has extended a senior debt facility to Factor 75 LLC. (Factor), a market-leading, online subscription service that delivers fresh, prepared, restaurant-quality meals that are uniquely positioned at the intersection of food and fitness.
Blacksail Capital Partners Announces Recent Transactions
December 4, 2019
Webster Promotes Sam Hanna to Executive Vice President, Middle Market Banking
December 4, 2019In this capacity, Sam will continue to lead the bank’s regional middle market banking organization, as well as equipment finance and other established middle market verticals including healthcare, emerging growth and government lending.
Santander US Announces Leadership Appointments
December 4, 2019Tim Wennes was named Santander US CEO and Country Head, and Mahesh Aditya named CEO of Santander Consumer. Sarah Drwal named Santander US CRO, and Juan Carlos "JC" Alvarez Joins Santander Consumer Board of Directors.
TAB Bank Provides Technology Company in Florida with a $4 Million Asset-Based Revolving Credit Facility
December 4, 2019The new facility is extended through a multi-year agreement and will provide for the company’s ongoing working capital needs. The company provides high-temperature point-of-sales systems and software peripherals to the restaurant industry.
Secure Trust Bank Commercial Finance Announces Senior Hire
December 4, 2019Secure Trust Bank Commercial Finance has bolstered its senior team in the North West by appointing a new regional managing director. Paul Johnston has more than 30 years of experience within the asset-based lending market. He joins from Santander and has also held senior roles at Landsbanki Commercial Finance and Lloyds Bank.
Destination Maternity Announces $50M Stalking Horse Bid
December 4, 2019Retailer Destination Maternity Corp. is asking the Delaware bankruptcy court to approve a $50 million stalking horse bid from brand acquisition company Marquee Brands for its e-commerce operation, store-in-store locations and trademarks. Destination Maternity is represented by Adam G. Landis, Kerri K. Mumford and Jennifer L. Cree of Landis Rath & Cobb LLP and Christopher T. Greco of Kirkland & Ellis LLP.
Astorius Forms Strategic Partnership with Twin Bridge Capital Partners to Expand Private Equity Product Offering
December 4, 2019Astorius, one of Germany's leading private equity firms, announced that it has entered into a strategic partnership with Twin Bridge Capital Partners, a U.S. private investment firm, to expand its small and lower middle-market private equity product offering.
Gridiron Capital Expands Business Development Capabilities
December 4, 2019Gridiron Capital, LLC (“Gridiron Capital”), a leading investment firm focused on partnering with founders, entrepreneurs, and management teams, is pleased to announce it has promoted Sean Kelley to Managing Director, Business Development and added and promoted Ty Black to Associate as part of the Business Development Team.
Arnold & Porter Expands Capital Markets Practice, Partner Carol Anne Huff Joins Chicago Office
December 4, 2019Carol Anne Huff announced today that Carol Anne Huff has joined the firm's Chicago office as a partner in the Corporate & Finance practice. Ms. Huff brings more than 20 years of experience in capital markets and M&A transactions, with a focus on the representation of private equity firms and public companies. Ms. Huff joins Arnold & Porter from an AmLaw100 firm.
Umpqua Bank Releases “State of the Middle Market 2020” Survey
December 4, 2019Umpqua Bank, a West Coast regional bank, has released its “State of the Middle Market 2020,” a national survey gauging the confidence of companies that together account for one-third of all U.S. private sector GDP. More than 500 decision-makers at middle market companies across all industries and geographic regions were polled on issues impacting their economic confidence and decision-making heading into 2020, including U.S.-China trade, stock market volatility, the labor market and interest rate environment.
Newbridge Provides More than $40 Million in Financing Facilities to Global Companies
December 4, 2019Newbridge Global Sourcing (“Newbridge”), a leading specialty finance company, recently provided a $40 million receivables financing facility to a telecommunications equipment manufacturer headquartered in Mexico. In addition, Newbridge provided $500,000 in supply chain financing to a leading designer and manufacturer of high-quality outdoor apparel to purchase inventory and fill customer orders.
Chesapeake Energy Corporation Announces Arrangement Of $1.5 Billion Term Loan Facility
December 4, 2019Chesapeake Energy Corporation (NYSE:CHK) announced today that it has engaged JPMorgan Chase Bank, N.A., Morgan Stanley Bank, N.A., Bank of America, N.A. and MUFG Bank, N.A. to assist with the arrangement of a secured first lien last out 4.5-year term loan facility in the aggregate principal amount of up to $1.5 billion.
Encina Business Credit, LLC Provides $30MM Facility to Coal Producer
December 3, 2019Encina Business Credit, LLC (EBC) announced today that it has provided a $30 million senior secured credit facility to a company that produces coal for blast-furnace steel production. The facility consists of a revolving line of credit based on accounts receivable and inventory. Loan proceeds will be used to provide a dividend and to support working capital, capex, and other corporate requirements.
Concord Serves As Exclusive Financial Advisor and Arranges $20MM in Senior Debt
December 3, 2019The client was a Luxury Jewelry Retailer based in the Northeastern U.S. The financing will be used to refinance existing debt & provide additional working capital.
Indicator Survey Shows that Substantial Risk, Compliance Concerns Remain for U.S. Lenders
December 3, 2019Notable regulatory compliance and risk challenges remain high in a number of key areas for U.S. banks and credit unions, according to results of Wolters Kluwer’s 2019 Regulatory & Risk Management Indicator survey. This year’s survey generated a Main Indicator Score of 95, a 10-point increase from the 2018 score, that was influenced by concerns about the impact of Home Mortgage Disclosure Act (HMDA) rules; cybersecurity, credit and compliance risks; and an increased level of regulatory agency fines.
Pinnacle Capital Finance Provides a Line of Credit and a Term Loan to a Leading Aerospace Company Totaling $995,000.00
December 3, 2019The company has been an industry leader for forty years and has the largest privately held inventory of forming equipment in the world. The line of credit will be used to supplement cash flow during crucial times of need, meet payroll demands and increase sales and production.
Capital One Provides $182 Million Loan to BioMed Realty for Modernization and Conversion of Office Portfolio to Life Science
December 3, 2019Capital One announced today that it closed a $182 million loan to finance substantial improvements for a four-building, 288,000 sq. ft. office campus in San Diego’s University Town Center by BioMed Realty, a Blackstone portfolio company. Funding includes a holdback for the redevelopment currently underway, led by the conversion of certain office space to laboratory/life science use and the addition of a variety of Class A amenity features serving the entire campus.
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The Secured Lender
SFNet's 75th Annual Convention Issue.