- STG Logistics Advances Toward Fully Consensual Emergence from Chapter 11; Seeks Confirmation of Plan of Reorganization Following Completion of Marketing Process and Final Resolution of LME Litigation
- SFNet New Member Spotlight - Benesch Law
- Arch Capital Management Launches to Provide Flexible Working Capital, Factoring, and ABL Facilities
- MidCap Financial Closes Senior Secured Credit Facility to Northridge Infrastructure Solutions
- Utica Funds $7 Million Capital Lease for Heavy Civil Contractor Acquisition
TSL Express Daily Articles & News
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Greetings and Happy New Year! There is much to be excited about as our network of secured lenders and service providers presses forward, fulfilling our essential purpose of putting capital to work. After a record year of member engagement and innovation, and a successful Annual Convention that marked our return to live events, we are eager to build on those achievements.
In 2022 we will carry over some of our most our most popular member-only benefits, such as company-wide registration for virtual and hybrid programs, free Crucial Conversation webinars and Member Forums, committee opportunities and editorial privileges, and differentiated event pricing. New this year will be FREE unlimited access to our popular on-demand education classes for all members.
TSL Express Daily Headlines & News
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Sterling Announces Extension of Credit Facility
January 2, 2024Sterling Infrastructure, Inc. (NasdaqGS: STRL) (“Sterling” or “the Company”) today announced that it requested and received an amendment to its 2019 credit agreement that extends the maturity of the credit facility by 18-months to April of 2026.
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Marco Provides a Factoring Facility for Spectron Systems Technology Inc.
January 2, 2024The company located on Hauppauge, New York on Long Island, that specializes in designing and creating tilt sensors and inclinometers since 1947, Spectron Systems Technology, opened a factoring line with Marco with the purpose of optimizing cash flow and operations.
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Haversine Funding Announces $35 Million in New Lender Finance Loans for Q4 2023
January 2, 2024Haversine Funding announces $35 million in new lender finance loans for the final quarter of 2023. These transactions further underscore Haversine’s commitment to providing comprehensive and tailored solutions to the specialty finance market.
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QMC Telecom International Secures New R$1.25 Billion Credit Facility
January 2, 2024QMC Telecom International Holdings, LLC ("QMC"), a scaled, fast-growing wireless infrastructure platform in Latin America, announced today the successful issuance of debentures in Brazil totaling R$1.25 billion (more than US$250 million) by QMC Telecom do Brasil Cessão de Infraestrutura S.A. ("QMC Brazil"), its Brazilian subsidiary.
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ProFrac Holding Corp. Completes Refinancing of Senior Secured Term Loan and Enhances Financial Flexibility
January 2, 2024ProFrac Holding Corp. (NASDAQ: ACDC) ("ProFrac", or the "Company") today announced that, on December 27, 2023, it completed the refinancing of its existing Senior Secured Term Loan and other debt with two new financings totaling $885 million, which will both mature in 2029.
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Eastern Bank Welcomes Richard Norberg As Vice President, Underwriter And Portfolio Manager, Asset-Based Lending
January 2, 2024Eastern Bank is pleased to welcome Richard Norberg as Vice President, Underwriter and Portfolio Manager focused on asset-based lending. Based in Boston, Mr. Norberg’s experience spans asset-based lending as well as broader commercial lending, primarily focused on executing and managing asset-based lending solutions for a diverse range of both retail and C&I clients.
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Parker Hudson Names Wes Pickard, Tara Ravi, and Matthew M. Weiss to the Partnership
January 2, 2024Parker, Hudson, Rainer & Dobbs LLP is pleased to announce real estate attorney Wes Pickard, healthcare attorney Tara Ravi, and bankruptcy attorney Matthew M. Weiss have been admitted to the partnership as of January 1, 2024.
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Armstrong Teasdale Elects Richard Engel to Managing Partner
January 2, 2024Over the course of its 123-year history, Armstrong Teasdale has enjoyed a proud tradition of strong and visionary leadership. In keeping with that tradition, Armstrong Teasdale is proud to announce that effective Jan. 1, 2024, Richard (Rick) W. Engel, Jr. has been elected managing partner.
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Verona Pharma Secures Debt Facility Of Up To $400 Million
January 2, 2024Verona Pharma plc (VRNA) on Tuesday announced that its unit Verona Pharma, Inc. has entered into a debt financing with Oxford Finance LLC and Hercules Capital, Inc. (HTGC) to the tune of up to $400 million.
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Fourshore Partners Announces Acquisition of Power Funding
January 2, 2024Fourshore Partners (Fourshore) announced today its acquisition of Power Funding (“Power”; “Company”), a premier factoring company focused on the oil & gas and transportation industries.
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Culain Capital Funding Closes $250,000 for School Supplies Company
December 21, 2023More and more businesses in need of fast, flexible working capital solutions beyond typical bank lending are turning to Culain Capital. The latest is a Georgia based School Supplies company that services various schools throughout the United States, which just received a $250M accounts receivable factoring facility through Culain Capital.
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Harmonic Announces New $160 Million Credit Facility
December 21, 2023Harmonic Inc. (NASDAQ: HLIT) today announced that it has entered into a new five-year, $160 million committed credit agreement (the "Credit Facility") with a lending syndicate led and arranged by Citibank, N.A., co-led by JPMorgan Chase Bank, N.A. and Wells Fargo Securities, LLC, and includes HSBC and MUFG as additional lenders. The Credit Facility replaces the Company's existing $25 million line of credit with JPMorgan Chase Bank, N.A.
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KonaTel Announces Closing of a $5 Million Secured Credit Facility
December 21, 2023KonaTel, Inc. (OTCQB:KTEL) (www.konatel.com), a voice/data communications holding company, announced that to support the expansion of its wholly owned subsidiary, IM Telecom LLC /d/b/a Infiniti Mobile a national Lifeline and ACP provider, it has closed a secured credit facility with ACP Financing VII LLC ("ACP Finance").
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Travel + Leisure Co. Successfully Reprices and Upsizes Secured Term Loan B Facility to $598 Million
December 21, 2023Travel + Leisure Co. (NYSE:TNL) announced today the closing of the Fifth Amendment to its Credit Agreement, which established $598 million of incremental term loans (the “2023 Term Loan B Facility”).
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North Avenue Capital Facilitates $1.8 Million USDA REAP Loan for SEPV Cuyama, LLC's Renewable Energy Project
December 21, 2023North Avenue Capital (NAC), a leading provider of USDA Rural Development Program financing across America, is pleased to announce the successful closing of a $1.8 million USDA Rural Energy for America Program (REAP) Loan for SEPV Cuyama, LLC (SEPV). As an industry leader, NAC's alignment with the renewable energy sector demonstrates its commitment to bolstering innovation and sustainability across rural America.
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Private Equity Veteran Kelly Williams Joins Blank Rome in Houston
December 21, 2023Blank Rome LLP is pleased to announce that A. Kelly Williams has joined the firm’s Houston office as senior counsel in the Corporate, M&A, and Securities group. Kelly will focus his practice on advising clients, including private equity funds, portfolio companies, financial institutions, and privately held businesses, on structuring and implementing acquisitions, divestitures, and financing transactions, as well as providing strategic business counsel to support future growth.
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Many Multiunit Restaurant Chains Need to Reboot Their Balance Sheets
December 21, 2023Post-pandemic shifts necessitate more efficient operations and portfolios, advises Joe McKeska of A&G, along with fellow panelists at major restaurant industry conference
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Hilco Global Warms the Winter by Providing Coats to Asylum Seekers and the Homeless
December 21, 2023Hilco donates over 8,000 new winter coats to those in need and living in shelters in Chicago, IL, Boston, MA, Philadelphia, PA, and Alexandria, VA.
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US Private Credit: Stone Point Leads Financing for Vensure Employer Solutions
December 21, 2023Vensure Employer Solutions, a leading provider of HR/HCM technology, managed services, and global business process outsourcing, today announced that Stone Point Capital Markets, a division of Stone Point Capital LLC, a private equity firm based in Greenwich, Connecticut, led a senior secured financing of $500 million to support Vensure Employer Solutions.
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Amerisource Closes $5,000,000 Working Capital Facility for Manufacturer
December 21, 2023Amerisource Business Capital announced the closing and funding of a $5,000,000 working capital facility for a Texas-based manufacturer of outdoor recreational products. The proceeds were used to refinance the company's existing bank line and support its ongoing working capital needs.
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