- CohnReznick Names Scott G. Sachs Private Equity Practice Leader
- Gateway Completes a Record 39 Stretch Deals in 45 Days Totaling $15 Million
- Faccorp Funds Three New Factoring Facilities so far Q1; Supporting Growth Across Security, Infrastructure, and Energy Sectors
- SFNet Market Pulse
- GA Group Appoints Curt Germany, Jr., CVA, to Lead and Expand its Financial Advisory Services Practice
TSL Express Daily Articles & News
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Danimer Scientific Announces Improved Liquidity Position with Closing of $130 Million Senior Secured Term Loan
Danimer Scientific, Inc. (NYSE: DNMR) (“Danimer” or the “Company”), a leading next-generation bioplastics company focused on the development and production of biodegradable materials, today announced it had closed a new senior secured term loan (“Term Loan”) with an aggregate principal amount of $130 million that expands its capital structure, significantly improves its near-term liquidity position, and enables it to maintain strategic and operational flexibility as it executes its growth strategy.
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Confidence in Asset-Based Lending Holds Steady
Confidence in the asset-based lending market held steady in the third quarter as banks and other lenders kept a close eye on the bigger economic picture, according to data released by the Secured Finance Network (SFNet).
SFNet surveyed bank and non-bank asset-based lenders (ABLs) on key indicators for its quarterly Asset-Based Lending Index and SFNet Confidence Index.
SFNet surveyed bank and non-bank asset-based lenders (ABLs) on key indicators for its quarterly Asset-Based Lending Index and SFNet Confidence Index.
TSL Express Daily Headlines & News
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Iron Horse Credit Provides a $4 Million Inventory Line of Credit to a Fleet Parts Manufacturer
January 16, 2024Iron Horse Credit (“IHC”), a leading inventory lender, is pleased to announce the closing of a $4,000,000 stand-alone inventory revolving line of credit to a fleet parts manufacturer, sister company to a forging manufacturer currently being financed by IHC.
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Mitsubishi HC Capital Canada Signs Partnership with Global OEM to Provide FMV leasing
January 16, 2024Mitsubishi HC Capital Canada, a subsidiary of Mitsubishi HC Capital America, announces it has signed a fair market value (FMV) lease program for a global OEM in the material handling industry.
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Jefferies and SMBC Expand and Strengthen Strategic Alliance, Broadening Joint Business Efforts Across EMEA
January 16, 2024-Jefferies Financial Group, Inc. (NYSE: JEF) (“Jefferies”) and Sumitomo Mitsui Financial Group, Inc. (NYSE: SMFG) (“SMFG”), Sumitomo Mitsui Banking Corporation (“SMBC”), and other group companies (collectively, “SMBC Group”) announced today that they have signed a memorandum of understanding to further expand their global strategic alliance to now include enhanced collaboration across Europe, the Middle East and Africa (“EMEA”) on future corporate and investment banking business opportunities.
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Black Press Announces Corporate Restructuring and Sale Transaction
January 16, 2024The Initial Order provides for, among other things, a stay of proceedings in favour of the Company, the approval of debtor-in-possession financing ("DIP Financing") to be provided by Canso Investment Counsel Ltd ("Canso"), and the appointment of KSV Restructuring Inc. as monitor of the Company (in such capacity, the "Monitor"). The Initial Order also extends the stay of proceedings to certain subsidiaries of the Company that are not petitioners in the CCAA Proceedings.
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Cooper Wage Joins First Business Bank As Vice President – Commercial Banking
January 16, 2024First Business Bank is pleased to welcome Cooper Wage to its Southeast Wisconsin office as Vice President – Commercial Banking.
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Huntington Business Credit Closes $20 Million Credit Facility with Energy Alloys Global Solutions Americas, LLC
January 16, 2024Huntington Business Credit announced it closed a $20,000,000 new credit facility with Energy Alloys Global Solutions Americas, LLC on December 8, 2023. Proceeds of the facility were used to refinance existing debt and provide ongoing working capital financing.
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Legacy Corporate Lending Closes 2023 with Four New ABL Investments
January 16, 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 closing of a robust slate of asset-based lending transactions during the second half of 2023.
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A&G Plans to Offer Eight Additional Rite Aid Store Leases and Three New Fee-Owned Properties
January 16, 2024A&G Real Estate Partners, in its capacity as real estate advisor to Rite Aid Corporation (“Rite Aid” or the “Company”), today announced plans to market for sale an additional tranche of neighborhood pharmacy leases and fee-owned properties, pending approval by the U.S. Bankruptcy Court for the District of New Jersey.
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Uniform Manufacturer Secures $12MM in ABL Funding from eCapital
January 16, 2024eCapital Corp. (“eCapital” or “the Company”), a leading technology-enabled provider of financing to small and medium-sized businesses (SMBs) across North America and the U.K., announces the recent funding of a $12MM asset-based lending facility tailored to support a US-based manufacturing company experiencing financial stress.
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Austin Financial Services Provides $15MM ABL Facility to a Poultry Processor & Distributor
January 16, 2024Austin Financial Services, Inc. (AFS) is pleased to announce the closing of a $15MM ABL facility, comprised of an AR and Inventory revolver to a Custom Poultry Processor & Distributor. The Company was seeking a lending partner who could provide greater flexibility than its current bank lender, while also understanding the unique challenges inherent to its business and their industry.
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BizCap Further Strengthens Financial Expertise, Welcomes Jeffrey K. Scott as Managing Director
January 16, 2024BizCap®, a commercial finance firm established in 2002, is thrilled to welcome Jeffrey K. Scott as Managing Director, based in Los Angeles. With an illustrious career spanning three decades in banking, finance, and advisory roles at esteemed institutions, Jeff brings unparalleled expertise and strategic vision to the BizCap team.
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Sallyport Commercial Finance Provides $500,000 in Financing for StartUp to Accelerate Growth
January 16, 2024Sallyport Commercial Finance is delighted to announce the first funding for 2024 - $500,000 in financing for a chemicals importer experiencing a common challenge for newer businesses. With no payment terms from their suppliers and extended payment terms from their customers, the client had a bottleneck in working capital preventing them fulfilling orders.
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Culain Capital Funding Closes $250,000 for Ohio-Based Artisan Food Company
January 16, 2024More and more businesses in need of fast, flexible working capital solutions beyond typical bank lending are turning to Culain Capital Funding. The latest is an Ohio-based food company, which recently received a $250,000 purchase order financing and accounts receivable factoring facility through Culain.
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Momnt and Saluda Grade Joint Venture Closes $200 Million Warehouse Facility from Macquarie Group
January 16, 2024Momnt, a leading fintech company specializing in real-time lending and payment solutions for businesses, and Saluda Grade, a synergistic and vertically integrated investment platform investing in emerging asset classes within the U.S. real estate sector, have closed an asset-backed revolving warehouse facility of up to $200 million from Macquarie Group (“Macquarie”).
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Alvarez & Marsal Announces 2024 Managing Director Promotions
January 16, 2024Leading global professional services firm Alvarez & Marsal (A&M) has announced the promotion of 69 professionals, across Europe and Middle East, India, Latin America, North America, North Asia and Southeast Asia & Australia to the position of Managing Director.
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Ares set to Close Largest Ever Direct Lending Fund
January 16, 2024Ares Management is set to close the largest ever direct lending fund, which will be valued at more than €20bn (£17.2bn). The investment firm is looking to raise at least €15bn from investors, according to sources cited by Bloomberg, with additional leverage of around €5bn.
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NXT Capital Closes Senior Credit Facility in Support of Sentinel Capital Partners’ Recapitalization of Online Labels Group
January 16, 2024NXT Capital announced today that it has provided a senior credit facility to support Sentinel Capital Partners’ recapitalization of Online Labels Group. NXT Capital acted as the Administrative Agent, Joint Lead Arranger, and Joint Bookrunner on this transaction.
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BlackRock Agrees to Acquire Global Infrastructure Partners (“GIP”), Creating a World Leading Infrastructure Private Markets Investment Platform
January 16, 2024BlackRock, Inc. (NYSE: BLK) and Global Infrastructure Partners (“GIP”), a leading independent infrastructure fund manager, jointly announce that they have entered into an agreement for BlackRock to acquire GIP for total consideration of $3 billion of cash and approximately 12 million shares of BlackRock common stock.
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SG Credit Partners Announces A Senior Debt Investment in 4th & Heart
January 16, 2024CHICAGO (January 11, 2024) ––SG Credit Partners, through its Consumer Products division, is excited to partner with 4th & Heart, an emerging premium food brand. The brand is focused on disrupting the $5.6 billion butter category through its ghee products including sticks, jars and sprays. Their products can be found nationwide in major retailers like Whole Foods and Kroger as well as specialty stores like Citarella and Erewhon.
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Castlelake and Vervent Reach Agreement for up to $180 Million of Financing for Consumer Credit Card Programs
January 11, 2024Castlelake, L.P., a global alternative investment firm specializing in asset-based opportunities and Vervent, a leading fintech servicing company, today announced the entry into a new forward flow agreement whereby certain Castlelake funds and affiliates will provide up to $180 million to Vervent and its affiliates.
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