- Asset-Based Lending & Factoring Surveys
- Regions Financial Announces Retirement of Deron Smithy, Names Allen Mayer as Treasurer
- SG Credit Partners Provides a Senior Debt Credit Facility to Family-Owned Food Distributor
- Rosenthal Capital Group Closes Two Transactions Over $10 Million Across its Purchase Order Financing and Recourse Factoring Divisions
- MidCap Business Credit LLC Completes $13 Million Asset-Based Credit Facility to Support the Acquisition of Anchor Manufacturing Group,Inc.
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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Heritage Global Announces New Upsized $17 Million Credit Facility with C3bank
Heritage Global Inc. (NASDAQ: HGBL) (“Heritage Global,” “HG” or “the Company”), an asset services company specializing in financial and industrial asset transactions, today announced an upsized $17 million credit facility with C3bank which includes the renewal of its existing $10 million line of credit as well as a new $7 million term loan.
TSL Express Trending Story
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With the second half of 2022 underway, it is a good time to evaluate cybersecurity issues and concerns. The cybersecurity front continues to be an area of significant risk for businesses. In this article we will explore recent trends, and specific industries at more risk of attack. For a perspective on the dollar impact, the largest payment in 2021 was a $40 million payment made by an insurance company. For a perspective on number of attacks, there is a cyber-attack every 11 seconds.
The National Cyber Security Alliance estimated that 60% of small businesses fail within six months of an attack.
TSL Express Daily Headlines & News
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MH&H Welcomes 2024 Class Of Summer Associates & Legal Interns
June 6, 2024Moritt Hock & Hamroff is pleased to welcome Julia DeFazio, Douglas Notaris and Pacika Guerra to its 2024 Summer Associates & Legal Interns Program. Julia and Douglas join the firm as Summer Associates while Pacika joins as a Legal Intern.
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White Oak Real Estate Capital and Thorofare Team Up on Tribeca Self-Storage Conversion
June 6, 2024White Oak Real Estate Capital (“WOREC”), an affiliate of White Oak Global Advisors, and Thorofare Capital today announced a $21.5 million two-year, floating rate senior loan for the acquisition and conversion of 78 Walker Street into a Class A, self-storage facility to-be operated by Public Storage.
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VOSKER Secures USD $125 Million in Debt Financing to Propel Global Expansion
June 6, 2024VOSKER, a leading provider of cutting-edge surveillance solutions, is excited to announce the successful closing of USD $125 million[1] in senior debt financing. The oversubscribed financing round marks a significant milestone for VOSKER, enabling the company to advantageously recapitalize its debt structure and strategically position itself for future growth initiatives.
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InterNex Capital Announces $4 Million Facility to IT Solution and Staffing Company
June 6, 2024InterNex Capital provided a $4 million line of credit with flexibility to accommodate growth opportunities with their large customers. The company sought an innovative lender that understood the vendor and customer complexities that Tier 1 IT solution companies manage.
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Dresser Utility Solutions Secures $335 Million Credit Facility From Blue Owl Capital Inc.
June 6, 2024Dresser Utility Solutions, a leading provider of global infrastructure technology for the energy transition including measurement, instrumentation, coupling and repair, pressure and flow control solutions to water and gas utility and industrial customers, and a portfolio company of First Reserve, has secured a $335 million credit facility from funds managed by Blue Owl Capital's Credit platform.
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Golub Capital Acts as Administrative Agent to Freddy's Frozen Custard & Steakburgers
June 6, 2024Golub Capital acted as Administrative Agent, Lead Arranger and Sole Bookrunner on a unitranche facility to support Freddy’s Frozen Custard & Steakburgers (“Freddy’s”). The facility is composed of a term loan and a revolver; proceeds will be used to support Thompson Street Capital Partners’ (“TSCPs’”) refinancing of the Company’s existing first lien credit facility. Additional deal terms were not disclosed.
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Trinity Capital Inc. Exits Its Equity Position in Core Scientific
June 6, 2024Trinity Capital Inc. (Nasdaq: TRIN) ("Trinity" or the "Company"), a leading provider of diversified financial solutions to growth-stage companies, announced today that as of June 4, 2024, it has completed the liquidation of the shares of common stock of Core Scientific (CORZ) ("Core") that it received in satisfaction of its claim in Core's Chapter 11 bankruptcy.
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CIBC Innovation Banking Provides Spare With $10 Million in Growth Capital to Accelerate Expansion of AI-Driven Mobility Solutions
June 5, 2024CIBC Innovation Banking announced today it has provided $10 million in growth capital to Spare, a leading provider of on-demand transit software. The funding will accelerate Spare's development of Artificial Intelligence (AI) solutions, helping to advance its mission to enhance public transit accessibility and efficiency for people underserved by conventional transit systems.
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XS Financial Closes Amended $70 Million Secured Credit Facility
June 5, 2024XS Financial Inc. ("XS Financial", "XSF" or the "Company") (CSE:XSF)(OTCQB:XSHLF), a specialty finance company providing CAPEX and equipment financing solutions to cannabis companies in the United States, announced that it has amended and upsized its current $54 million line of credit with Needham Bank ("Credit Facility") to $70 million. All figures are in US Dollars.
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Principal® Direct Lending Business Launches Private Credit Fund
June 5, 2024Principal Asset ManagementSM today launched the Principal Private Credit Fund I, offering exposure to lower and core middle market loans, with immediate access to these direct lending investments.
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Gridiron Capital-Backed Vertical Supply Group Acquires Yates Gear, Leaders in Fall Protection
June 5, 2024Gridiron Capital, LLC (“Gridiron Capital”), an investment firm focused on partnering with founders, entrepreneurs, and management teams, is pleased to announce that its portfolio company Vertical Supply Group (“VSG” or the “Company”), a leading supplier and manufacturer of life safety equipment, has acquired Yates Gear (“Yates”)
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CFPB Issues Final Rule for Section 1071
June 5, 2024On May 17, 2024, the Consumer Financial Protection Bureau (CFPB) announced plans to extend the compliance deadlines for its Small Business Lending Rule, following a Supreme Court ruling that ended a temporary injunction on the rule. The rule, implementing Section 1071 of the Dodd-Frank Act, requires financial institutions to collect and report data on small business lending activities.
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Lendbuzz and MUFG Announce $100 Million Warehouse Facility
June 5, 2024Lendbuzz, an AI-based fintech company that helps consumers obtain better access to credit when purchasing a vehicle, announced today that it has closed a $100 million credit facility with MUFG. The additional warehouse capacity will fuel Lendbuzz’s continued loan origination growth.
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U.S. Bancorp Announces new WCIB Business Leaders, new Institutional Client Group
June 5, 2024U.S. Bancorp (NYSE: USB), parent company of U.S. Bank, today announced expanded leadership roles for Stephen Philipson and Felicia La Forgia as part of an effort to strategically position the bank’s Wealth, Corporate, Commercial and Institutional Banking (WCIB) team.
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FTI Consulting Appoints Asset-Based Lending Expert to Lender Services Practice as Managing Director
June 5, 2024FTI Consulting, Inc. (NYSE: FCN) today announced the appointment of Peter Dumas as a Managing Director in the Lender Services practice within the firm’s Corporate Finance & Restructuring segment.
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May Small Business Filings Increase 53 Percent Over the Same Period Last Year
June 5, 2024Small business filings, captured as subchapter V elections within chapter 11, registered a 53 percent increase to 228 in May 2024 from 149 in May 2023, according to data provided by Epiq AACER, the leading provider of U.S. bankruptcy filing data. Commercial chapter 11 filings increased 11 percent in May 2024 to 759 from the 683 filings in May 2023.
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In Memoriam: Eric Anderson
June 4, 2024Eric William Anderson, age 63, of Atlanta, Georgia, passed away peacefully in his home on May 30, 2024. He was born on May 24, 1961, in Madison, Wisconsin, to Eleanor Shefferman and Norman Anderson. He is survived by his wife, Ellen; his children, Ian, Henry, and Eva; and his grandchildren, Bowen and Brooks.
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Raketech Signs Revolving Credit Facility with Bank of Valletta
June 4, 2024Raketech Group Holding Plc (Nasdaq:RAKE), the iGaming performance marketing partner is pleased to announce that the company has signed a revolving credit facility (RCF) with Bank of Valletta, one of the largest banks in Malta, partially owned by the Maltese government.
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First Citizens BancShares Debuts on Fortune 500
June 4, 2024First Citizens BancShares Inc. (Nasdaq: FCNCA), parent company of First Citizens Bank, today was named for the first time to the Fortune 500™ list of the largest companies in the United States by revenue.
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Monroe Capital Supports Sheer Logistics’ Acquisition of CargoBarn
June 4, 2024Monroe Capital LLC (“Monroe”) announced it acted as sole lead arranger and administrative agent on the funding of a senior credit facility and equity co-investment to support the acquisition of CargoBarn by Sheer Logistics, an existing portfolio company of Woodlawn Partners.
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