- Republic Business Credit Supports Growth of Emerging Footwear Manufacturer with a $750,000 Factoring Facility
- Brown Plus Acquires Ross Buehler Falk & Company, LLP, Effective January 1, 2026
- American Signature’s Retail Boxes Create Expansion Opportunity for Growing Retailers
- SouthStar Capital Funds $2 Million Invoice Factoring Facility for Growing U.S. Manufacturer
- Monroe Capital Launches Monroe Capital Enhanced Corporate Lending Fund (MLEND)
TSL Express Daily Articles & News
To submit company news and press releases toTSL Express, email tslexpress@sfnet.com.
Today's Top Story
Featured
Wingspire Capital Commits $30 Million Term Loan and $15 Million Revolver to Mondee as Part of Add-On Financing
Wingspire Capital LLC (“Wingspire”) committed a $30 million term loan A and a $15 million revolver to travel technology and marketplace firm Mondee, Inc., participating and adding to an existing loan facility led by TCW Asset Management Company LLC.
The proceeds will be used to fund general corporate business for the Austin, Texas-based company, including a disciplined and accretive M&A strategy.
TSL Express Trending Story
Featured
Meredith Coffey of LSTA provides readers with an update on the LIBOR transition.
- When is LIBOR ending?
The UK’s Financial Conduct Authority (“FCA”) – the regulator of the ICE Benchmark Administration, the administrator of LIBOR – has said that all sterling, Swiss franc, euro and Japanese yen LIBOR settings will cease or no longer be representative after year-end 2021. The FCA also said that the settings for one-week and two-month USD LIBOR will also cease or will be non-representative after year-end 2021. The remaining USD LIBOR tenors will cease or be non-representative after June 30, 2023. Importantly, while USD LIBOR will continue to exist after the end of 2021, this is only for pre-existing “legacy” contracts. The U.S. banking regulators have said that banks should not originate new LIBOR contracts after the end of 2021.
TSL Express Daily Headlines & News
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Everbank Welcomes Five New Experienced Hires to Support Its Newly Launched Fund Finance Division
October 24, 2023EverBank, formerly TIAA Bank, is proud to announce the addition of five experienced leaders to its recently launched Fund Finance division.
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Trafigura Closes USD2.7 Billion-equivalent Syndicated Revolving Credit Facility and Term Loan Facilities
October 23, 2023Trafigura Group Pte Ltd (“Trafigura”), a market leader in the global commodities industry, announced the closing of its new Syndicated Revolving Credit Facility (“RCF”) and Term Loan Facilities (the “Facilities”) at c. USD2.7 billion-equivalent. The Facilities were substantially oversubscribed and upsized from their initial launch amount of USD2.0 billion-equivalent, with 30 financial institutions participating in the transaction, including four new lenders.
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Castlelake to Provide $200 Million Private Structured Financing Solution to Oportun to Finance Personal Loan Product
October 23, 2023Castlelake, L.P., a global alternative investment firm specializing in asset-based opportunities and Oportun (Nasdaq: OPRT), a mission-driven fintech, today announced the entry into a new agreement whereby certain of Castlelake funds and affiliates, will provide a $200 million private structured financing solution to Oportun. Under the terms of the agreement, Oportun will use the funds to finance the origination of its personal loan products.
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SFNet Prepares to Respond to Interagency Notice of Proposed Rulemaking Modifying Bank Capital Requirements
October 23, 2023SFNet’s Advocacy Committee has assembled a task force including member banking institutions, legal resources and strategic advisors to address proposed new regulations incorporating Basel III risk weighted capital standards.
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Austin Financial Services Closes $8MM ABL Facility with an Equipment T/L to a PE owned Metal Door Manufacturer
October 23, 2023Austin Financial Services, Inc. (AFS) is pleased to announce the closing of an $8MM ABL facility, which includes an equipment term loan, to a manufacturer of metal door and hallway systems for the self-storage industry. Proceeds from AFS’ revolver and term loan will be used to purchase materials to support order demand and execute the Company’s long-term growth projections.
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Sallyport Commercial Finance Provides $350,000 in Financing for Oil and Gas Business
October 23, 2023Sallyport Commercial Finance announced it has provided a $350,000 accounts receivable facility for an oil and gas services business to step forward with their plans after the bank was unwilling to extend their facility. The facility will allow the company to reduce their accounts payable obligations and focus on growing sales in some of their target regions.
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Armory Advises Kent's Bromeliad Nursery on Sale to Elevate Living Design Inc.
October 23, 2023Kent’s Bromeliad Nursery (“KBN”) is one of the world’s leading suppliers of premium Bromeliad plants. Its expert team of horticulturists have extensive knowledge of bromeliad cultivation that has resulted in creation of over 47 unique bromeliad plant varieties and more than 19 patents for additional hybrids.
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Hilco Redevelopment Partners Breaks Ground on Vertical Construction at The Bellwether District
October 23, 2023Hilco Redevelopment Partners (HRP) broke ground today on the first phase of vertical construction on The Bellwether District’s 1,300-acre South Philadelphia site.
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Solifi wins Digital Innovation of the Year at the Motor Finance Europe Awards
October 23, 2023Solifi, a global fintech software partner for secured finance, received an accolade at the 9th annual Motor Finance Europe Awards in the Digital Innovation of the Year (Technology Company), Retail Solutions/Vehicle Management category. The Awards, which took place in Vienna on 19 October, celebrate organisations across the European automotive finance industry for their expertise in various categories.
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Credit Genie Secures $10 Million in Financing to Expand its Innovative Approach to Behavioral Finance and Personalized Budgeting
October 23, 2023Creditly Corp., dba Credit Genie, a leading digital personal finance platform that has served more than one million Americans, announced today the successful completion of an additional funding round, securing $10 million in capital, bringing its total financing to $21 million.
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UBS Hires Advisor Team of Four in Washington, D.C.
October 23, 2023UBS today announced that a four-person advisor team, The Charles Drew Group, has joined the firm in Washington, D.C. The team, which manages $460 million in client assets, is led by Managing Director and Financial Advisor Charles Drew, and also includes Financial Advisors Bennett Kavlick, Matthew Tomczuk and Client Service Associate Justin Hatch.
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Elavon Financial Services Receives UK Banking Authorisation
October 23, 2023Macquarie Capital, the corporate advisory, capital markets and principal investing arm of Macquarie Group, today announced it has joined a US Government initiative to improve energy efficiency, emissions and energy resilience across the healthcare sector, with a focus on safety-net providers in economically disadvantaged communities. Macquarie Capital has committed to support up to $US300 million in renewable energy project developments for hospitals and hospital systems designated as key priorities under the initiative.
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Flow Capital Announces a US$2.5M Investment in a CivTech Company
October 23, 2023Flow Capital Corp. (TSXV:FW) (“Flow Capital” or the “Company”), a leading provider of flexible growth capital and alternative debt solutions, announces that it has closed a US$2.5M investment in a women-led software and data company in the civic space.
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BB Energy Successfully Renews and Expands its Digital Borrowing Base Credit Facility to USD 600 Million
October 23, 2023BB Energy, a leading global independent energy trading company, has successfully renewed and expanded its senior secured borrowing base credit facility (the 'Facility') in the Americas. The Facility finances the company's working capital needs for inventory and receivables in the region.
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Federal Reserve Board Launches Data Collection to Gather More Information From Banks Affected by Large Bank Capital Proposal and Extends Comment Period
October 23, 2023The Federal Reserve Board on Friday launched a data collection to gather more information from the banks affected by the large bank capital proposal it announced earlier this year. When the proposal was announced, the Board indicated that it would undertake this supplemental data collection.
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Crescent Capital Group Announces Hiring of Felipe Esguerra as Managing Director, Head of Eastern U.S. Region in the Investor Solutions Group
October 23, 2023Crescent Capital Group LP, a leading alternative credit investment firm, announced today that it has hired Felipe Esguerra as Managing Director, Head of Eastern U.S. Region in the Investor Solutions Group. Based out of Crescent’s New York office, Mr. Esguerra is responsible for marketing Crescent Capital’s strategies to institutional investors including corporate and public pension plans, endowments, foundations, healthcare systems and family offices across the Eastern U.S.
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Santander Bank Unifies U.S. Commercial Businesses, Names Michael Lee Head of Commercial Banking
October 23, 2023Santander Bank, N.A. (“Santander” or “the Bank”) recently unified its commercial & industrial business and its commercial real estate & vehicle financing business into one Commercial Bank in the United States under the leadership of Michael Lee. Mike joined Santander in 2009, and most recently served as Managing Director and Head of Commercial Real Estate & Vehicle Finance. He will continue to report to Tim Wennes, Santander US CEO and Country Head, and Santander Bank President and CEO.
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PacWest Bancorp and Banc of California Receive Final Regulatory Approval for Merger
October 23, 2023PacWest Bancorp (“PacWest”) (Nasdaq: PACW) today announced that the Board of Governors of the Federal Reserve System granted its approval of the previously announced combination of PacWest and Banc of California, Inc. (“Banc of California”) and their respective bank subsidiaries, Pacific Western Bank and Banc of California, N.A.
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Spring Oaks Capital Successfully Completes New Credit Facility and Capital Raise
October 23, 2023Spring Oaks Capital, LLC is pleased to announce the closing of a new credit facility, as well as a large capital raise to support the growth of its technology-focused consumer debt investing and collections platform. The $150 million senior secured revolving credit facility is provided by funds managed by Värde Partners and UBS O’Connor.
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Meers Joins CohnReznick as Managing Director, Technology+
October 23, 2023CohnReznick LLP, one of the leading advisory, assurance, and tax firms in the United States, today announced that Dan Meers has joined the firm as a Managing Director in its Technology+ practice. Meers will assume the role of data and analytics leader for the practice, initially focusing on delivering technology and data solutions to CohnReznick clients in the federal government/public sector and financial services industries.
The Secured Lender
SFNet's The 81st Annual Convention Issue
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