- Ares Raises $12.7 Billion to Invest in Asset-Based Finance Through the Pathfinder Closed-End Strategy
- Molly Drescher Joins Barclay Damon
- Asset-Based Lending & Factoring Surveys
- J D Factors Provides $14.7 Million in New Factoring Facilities in May
- Rosenthal Capital Group Closes Three Transactions Totaling $5 Million
TSL Express Daily Articles & News
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Collectors Closes $125M Revolving Line of Credit with J.P. Morgan, KeyBanc Capital Markets Inc. and California Bank & Trust
Collectors Holdings, Inc. (“Collectors”), announced today the closing of a $125M revolving line of credit with a syndicate co-led by J.P. Morgan and KeyBanc Capital Markets Inc., with participation by California Bank & Trust.
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Ikhwan Rafeek is a Member in the Otterbourg P.C.’s Banking and Finance Department.
Ikhwan represents institutional lenders, banks, commercial finance companies, and factors in connection with the documentation of domestic and international secured lending arrangements, including asset-based, term loan, healthcare, real estate, middle market, leveraged, and first and second lien loan transactions. Mr. Rafeek also frequently represents secured lenders in workouts and restructurings, and in portfolio acquisitions and dispositions.
TSL Express Daily Headlines & News
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Greenalia Secures $200 Million of 3-Year Credit Facilities
February 20, 2024Greenalia S.A. (the "Company" or "Greenalia"), a leading Spanish developer of renewable power projects, today announced the close of $200 million of three-year credit facilities to support the development of its solar and wind project pipeline in the U.S. Greenalia Power US Advanced II, LLC ("Greenalia US" or the "Borrower") is a subsidiary of Greenalia that acquires, develops, constructs and operates utility-scale solar, wind and energy storage projects in the U.S.
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Montrose Environmental Group Upsizes Credit Facility to $400 Million
February 20, 2024Montrose Environmental Group, Inc. (the “Company,” “Montrose” or “MEG”) (NYSE: MEG), today announced that it has upsized its Senior Secured Credit Agreement (“Credit Facility”) to $400 million. The additional $100 million of availability includes a $50 million increase in the revolving credit facility to $175 million and a $50 million increase to the term loan.
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Tech-Enabled Private Credit Asset Manager Liquidity Group Strengthens Ties with Institutional Investors with Senior Hires
February 20, 2024Liquidity Group, the global $2.5B AUM asset manager specializing in growth-stage private credit, added three executives to lead its newly formed Financial Institutions Group (FIG). Reggie Mills, Robert Amato and Sonia Peterson now hold roles as Head of FIG; Head of FIG, North America; and Head of FIG, Europe respectively.
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Trident Royalties PLC Announces Completion of Revolving Credit Facility
February 20, 2024Trident Royalties Plc ("Trident" or the "Company") (AIM:TRR)(OTCQB:TDTRF) is pleased to announce that, following the announcement on 29 November 2023, the Company has now signed the facility agreement with BMO Capital Markets and CIBC for a new US$40 million revolving credit facility (the "RCF"), with an option to increase the facility to US$60 million via an accordion feature.
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Golub Capital Acted as Sole Lender on Unitranche Facility for Agilio Software
February 20, 2024Golub Capital acted as Sole Lender on a unitranche facility to support the acquisition of Agilio Software (“Agilio”) by Five Arrows and TA Associates (“TA”). Terms of the deal were not disclosed.
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U.S. Small Businesses Increasingly Upbeat About the Economy—and Their Banks
February 20, 2024-Increased optimism among small businesses about the U.S. economy is carrying over to their banking relationships. Falling inflation, a friendlier Federal Reserve and diminishing concerns about a recession have elevated small business owners’ and executives’ outlook for the economy to the strongest levels since 2022, according to new data from the Greenwich Business Community.
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New England Consulting Partners Marks Milestone Growth with Promotions
February 20, 2024New England Consulting Partners, a national turnaround management firm headquartered in Boston, today announced two senior-level promotions in conjunction with the company’s recent expansion into new industries and geographies, including Europe.
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Republic Business Credit Provides Non-Borrowing Traditional Factoring Facility to Apparel Company
February 20, 2024Republic provided a non-borrowing traditional factoring facility to help reduce the company’s payment risk. Republic gave the company comfort that its shipments would be paid for in full, so the company could focus on growing its new brand.
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Norsk Hydro: Hydro Signs New USD 1,000 Million Revolving Credit Facility
February 20, 2024Credit Agricole CIB and DNB acted as the coordinating Mandated Lead Arrangers and Bookrunners on the transaction. In addition, Danske Bank and ING acted as the Bookrunners, while BNP Paribas, Citibank, Goldman Sachs Bank, Handelsbanken, JP Morgan, Nordea Bank, and SEB participated in the transaction as Mandated Lead Arrangers.
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First Business Bank Announces Commercial Banking Promotion
February 20, 2024Schremp has more than a decade of commercial banking experience. First Business Bank hired Schremp as a credit analyst in 2013. He eventually moved to the commercial banking team.
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Mountain Ridge Capital Provides $29 Million Credit Facility Designer and Manufacturer of Plastic Injection Products
February 20, 2024Mountain Ridge Capital (“MRC”) is pleased to announce the closing of a $29 million senior secured credit facility for a category-leading designer and manufacturer of plastic injection products.
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Northleaf Leads $75 Million Senior Secured Credit Facility for Duetti
February 16, 2024Northleaf Capital Partners (Northleaf), a leading global private markets investment firm, announced today that it acted as the sole lead arranger of a US$75 million asset-backed senior secured credit facility to support the growth of Duetti, a music financing platform focused on a wide range of independent artists.
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MB2 Dental Raises US$2.344bn Unitranche Debt Facility With KKR
February 15, 2024Leading dental partnership organization (“DPO”), MB2 Dental has closed a US$2.344bn unitranche debt facility with credit vehicles and accounts managed by KKR, which acted as Lead Investor and Arranger on the transaction.
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Electrovaya Announces Increase in Credit Facility to C$22 million
February 15, 2024Electrovaya Inc. ("Electrovaya" or the "Company") (NASDAQ:ELVA)(TSX:ELVA), a lithium ion battery technology and manufacturing company, today announced that its credit facility has been increased from C$16 million to C$22 million, with uncommitted accordions up to $4MM to increase the facility to C$26 million in the future.
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Robertshaw Takes Strategic Actions to Position the Company for Long-Term Growth
February 15, 2024Robertshaw US Holding Corporation and certain of its U.S. affiliates (“Robertshaw” or the “Company”), a leading global design, engineering, and manufacturing company, today announced that it has commenced a financial restructuring process to improve its capital structure, strengthen its business, and position the Company for future growth.
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Cambridge Savings Bank Hires Ryan Bailey as New President and Chief Executive Officer
February 15, 2024Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and nearly $7 billion in assets, today announced that it has hired Ryan Bailey as the bank’s new president and chief executive officer (CEO).
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TD Bank Names Don Baker Northern New England Commercial Market President
February 15, 2024TD Bank, America's Most Convenient Bank®, has named Don Baker Commercial Market President of Northern New England. In this expanded role, Baker will lead the commercial and small business banking teams in Maine, New Hampshire and Vermont.
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Citizens Financial Group Appoints Brendan Goode as Chief Security Officer
February 15, 2024Citizens Financial Group, Inc. (NYSE: CFG) today announced that Brendan Goode will assume the role of Chief Security Officer, effective April 29, 2024. Upon assuming the CSO role, Goode will report to Michael Ruttledge, CIO and Head of Enterprise Technology & Security. He will succeed Holly Ridgeway, who will retire from Citizens at the end of June.
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Fund Finance Report Reveals Growth Outlook Despite Challenges
February 15, 2024Haynes and Boone, LLP released its first-ever Fund Finance Annual Report, which revealed an industry cautiously optimistic about growth despite facing headwinds, including rising interest rates and market disruptions.
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Bain Capital Credit Announces $2 Billion of Financing Investments in 2023
February 15, 2024Bain Capital Credit, L.P., a leading global credit specialist, today announced that the firm’s Private Credit Group invested approximately $2 billion to support the growth of middle market and private equity-backed companies in 2023.
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