- AFC Expands Revolving Credit Facility with $30 Million Additional Commitment from Existing FDIC-Insured Banking Partner
- Southstar Capital Provides $2MM A/R Facility to Support Growth of Private Equity-Backed Analytics Firm
- GACC™ Appoints Jared Price as Director, Further Expanding Leadership Team
- SFNet Outlines Next Steps on Proposed Basel III Bank Capital Rules
- Alkane Executes $110 Million Revolving Credit Facility
TSL Express Daily Articles & News
To submit company news and press releases toTSL Express, email tslexpress@sfnet.com.
Today's Top Story
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Rosenthal Broadens Its Financing Offerings to Span Both Recourse and Non-Recourse Factoring
Rosenthal & Rosenthal, Inc., the leading factoring, asset-based lending, purchase order financing, d2c and e-commerce inventory financing firm in the United States, today announced the launch of a new recourse factoring program designed to meet the unique financing needs of growing service businesses and light manufacturing or assembly businesses. An alternative to bank financing, Rosenthal’s recourse factoring offering is an excellent solution for start-ups, turnarounds and companies that are not yet profitable due to rapid growth.
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SFNet Announces Important Convention Updates and Safety Protocols
As we surpass the 600 attendee threshold for SFNet's upcoming 77th Annual Convention, we’d like to share some important updates.
TSL Express Daily Headlines & News
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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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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.
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First Citizens Bank Closes More Than $66 Million in Financings with Consumer Products Companies
October 19, 2023First Citizens Bank today announced that its CIT Commercial Services subsidiary, a national leader in factoring, credit protection and accounts receivable management solutions, recently closed three major client financing transactions.
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Mammoth Energy Announces Revolving Credit Facility Refinancing
October 19, 2023The new five-year revolving credit facility with Fifth Third Bank, National Association ("Fifth Third"), provides for revolving commitments of up to $75 million, subject to a borrowing base calculation prepared monthly. The new five-year term loan agreement with Wexford Capital LP ("Wexford"), an affiliate of Mammoth, provides for term commitments of $45 million.
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AVITA Medical, Inc. Enters into a Credit Agreement for a Credit Facility Up to $90 Million
October 19, 2023AVITA Medical, Inc. entered into a Credit Agreement, by and between the Company, as borrower, and an affiliate of OrbiMed as the lender and administrative agent . The Credit Agreement provides for a five-year senior secured credit facility in an aggregate principal amount of up to $90 million, of which (i) $40 million was made available on the Closing Date,
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Pantheon International plc Announces Refinancing of Credit Facility with Additional Flexibility
October 19, 2023Pantheon International PLC announced that it has agreed a new £500 million equivalent multi-tranche, multi-currency revolving credit facility agreement (the "Loan Facility"), which replaces the existing £500 million equivalent credit facility and Credit Suisse AG London Branch as a Lender.
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Haversine Funding Announces OnDeck with Haversine, a Limited Series Podcast Dedicated to the Specialty Finance Industry
October 19, 2023Haversine Funding, a premier lender finance platform in the specialty finance space, proudly announces its newest endeavor - the limited series podcast, OnDeck with Haversine. Available on Spotify, YouTube, Apple, Google Podcasts, and LinkedIn, audiences can anticipate monthly episodes into early 2024.
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Clifford Chance Continues US Energy & Infrastructure Growth With Hire of Partner Cephas Sekhar and Counsel Kyle Kreshover in Houston
October 19, 2023Global law firm Clifford Chance has hired corporate M&A partner Cephas Sekhar in its Houston office. Sekhar's appointment sees the Houston team grow to 11 partners following its opening in June, which marked the expansion of the firm's global Energy & Infrastructure team in the US.
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BMO Blue Book: U.S. Economy is Resilient but Predicted to Slow in Early 2024
October 19, 2023New flagship research report, BMO Blue Book, features regional economic analysis from BMO experts and an outlook for the U.S. economy.
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First Citizens Announces Leadership Changes in Community Association Banking Business
October 19, 2023First Citizens today announced leadership changes in its Community Association Banking business - including naming Nick Mirabal as its new head of Association Banking and expanding the roles of several leaders - to drive continued collaboration and synergy.
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nFusion Capital Welcomes Brice Reid to the Team
October 19, 2023nFusion Capital (the “Company”), a leading commercial finance company to entrepreneurs, announced that William Brice Reid has joined their team as Senior Vice President. Brice will be responsible for receivables purchasing, asset-based lending and loan originations and developing client and referral relationships across the United States. He will be based in nFusion Capital’s Dallas office.
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A&G Announces Plan to Sell Certain Company-Owned Store Leases and Properties in Connection with Rite Aid’s Financial Restructuring
October 19, 2023A&G Real Estate Partners, in its capacity as real estate advisor to Rite Aid Corporation (the “Company”), today announced plans to market for sale 78 Rite Aid and Bartell Drugs neighborhood pharmacy leases, as well as 21 fee-owned properties, pending approval by the U.S. Bankruptcy Court for the District of New Jersey.
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