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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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Robert Grbic has more than 30 years of commercial lending experience. He has been with the company and its predecessor since 2005, previously serving as senior executive vice president and chief credit officer where he was involved in creating a hands-on, best-practices credit culture, as well as helping the Company expand its client portfolio.
Before that, Grbic was managing director at MorrisAnderson & Associates ltd., a turnaround-consulting firm. He also co-founded MetSource Capital, LLC, a restructuring and corporate finance firm, working primarily with small- and medium-sized companies. In addition, Grbic has also served at GMAC Commercial Credit, LLC, BNY Financial Corp and Bankers Trust. He has served as an instructor for the Finance, Tax and Law Department at the NYU School of Continuing Education. Grbic holds master’s and bachelor’s degrees in Business Administration from Pace University.
TSL Express Daily Headlines & News
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Brian Rush Joins UpField Financial as newest Partner, Focused on Financial Diligence Services
March 19, 2024UpField Financial, LLC ("UpField"), a financial diligence and consulting firm, announced that Brian Rush, CPA, has joined the firm as a Partner— focused on lender due-diligence and specializing in providing collateral exams, desktop reviews, portfolio reviews and quality of earnings reports for commercial banks and non-bank lenders in their Commercial, Corporate, and Asset-based Groups.
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B. Riley Serves as Lead Left Bookrunner in Connection with Landsea Homes Corporation's $32.5 Million Secondary Offering
March 19, 2024B. Riley Securities, Inc. ("B. Riley"), a leading middle market investment bank, is pleased to have served as the Lead Left Bookrunner in connection with Landsea Homes Corporation's (Nasdaq: LSEA) (“Landsea” or the "Company”) recent $32.5 million secondary offering. B. Riley led the sale of 2,800,000 shares of the Company’s common stock at a public offering price of $11.60 by Landsea Holdings Corporation (“Selling Stockholder”).
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Faegre Drinker Bolsters Finance & Restructuring Team With Partner Deanna Reitman in Dallas
March 19, 2024Reitman provides clients with legal, regulatory and business advice on commodities. She has more than 25 years’ experience in commodity markets and more than 18 years of senior management experience, with a particular focus on energy, metals, agriculture, carbon and other sustainable commodities.
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Drilling Tools International Corp. Amends and Extends ABL Credit Facility and Enters into New Term Loan
March 19, 2024Drilling Tools International Corp. (NASDAQ: DTI) ("DTI" or the "Company"), a global oilfield services company that manufactures and provides a differentiated, rental-focused offering of tools for use in onshore and offshore horizontal and directional drilling operations, today announced that it has completed an amendment (the "ABL Amendment") to its existing Amended and Restated Senior Secured Asset-Based Revolving Credit, Security And Guaranty Agreement, with PNC Business Credit, a division of PNC Bank, National Association (the "ABL Credit Facility").
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KeyCorp and Blackstone Credit & Insurance Announce Forward Flow Origination Partnership
March 19, 2024Today, KeyCorp (NYSE: KEY, "Key") announced a forward flow origination partnership with Blackstone Credit & Insurance ("Blackstone") focused on Key's Specialty Finance Lending (SFL) group. SFL is a leading asset-based lender serving clients nationally across middle market, growth capital, transportation, equipment, and other verticals.
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Comvest Partners Announces Close of Sixth Flagship Private Equity Fund at $881 Million
March 19, 2024Comvest Partners (“Comvest”), a leading middle-market private equity and credit investment firm, today announced the final close of its sixth flagship private equity fund, Comvest Investment Partners VI, L.P. (“CIP VI”, or the “Fund”), with total capital commitments of $881 million.
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Wintrust Receivables Finance Announces Closing of $15M Line of Credit for Third-Party Logistics Firm
March 19, 2024Wintrust Receivables Finance (WRF) is happy to announce the closing of a new $15,000,000 account receivable line of credit for a well-established Midwest-based third-party logistics firm.
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Accord Announces Amendments to its Banking Facility
March 18, 2024ccord Financial Corp. (“Accord” or the “Company”) (TSX – ACD) today announced that it has entered into amendments to its primary credit facility with its banking syndicate. As disclosed in its third quarter report, in November 2023, the Company uncovered significant irregularities in collateral reporting by a borrower related to a $14.4 million loan, which led the Company to record a specific provision for credit losses relating to this loan.
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bluebird bio Secures up to $175 Million Debt Financing with Hercules Capital
March 18, 2024bluebird bio, Inc. (NASDAQ: BLUE) (“bluebird bio” or the “Company”) today announced that it has entered into a $175 million five-year, term loan facility with Hercules Capital, Inc. (NYSE: HTGC) (“Hercules”). The transaction strengthens the Company’s balance sheet as it executes on the commercial launches for its three FDA approved gene therapies – LYFGENIA for sickle cell disease, ZYNTEGLO for beta-thalassemia and SKYSONA for cerebral adrenoleukodystrophy.
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Tradewind Finance Adds EUR 35 Million Factoring Facility for Steel Manufacturer in Europe, Funds Largest Single Shipment To Date
March 18, 2024Businesses dealing in lower-priced, lower margin products typically need to sell higher volumes to turn a profit. Financing exports can facilitate large enough shipments to achieve profitability in these cases.
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Barnes & Thornburg Welcomes Experienced Bankruptcy Group Led By Partners Frank DeBorde and Lisa Wolgast
March 18, 2024Barnes & Thornburg announced today that a bankruptcy group, led by partners Frank W. DeBorde and Lisa Wolgast, has joined the firm’s Finance, Insolvency and Restructuring Department in Atlanta. The team includes of counsel Jason H. Watson and associate Talia B. Wagner.
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Mountain Ridge Capital Provides $30 Million Credit Facility for Southeastern Food Distributor
March 18, 2024Mountain Ridge Capital ("MRC") is pleased to announce the closing of a $30 million senior secured credit facility for a regional distributor focused on fast food and fast casual dining.
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Court Approves Enviva’s DIP Financing and Syndication Process
March 18, 2024In the United States (US), Enviva Inc. has announced that the US Bankruptcy Court for the Eastern District of Virginia has approved, among other matters, its previously announced US$500 million debtor-in-possession financing (DIP Facility) under the Debtor-in-Possession Credit and Note Purchase Agreement (DIP Facility Agreement) and the procedures and related materials that will govern the syndication of the DIP Facility.
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Hilco Streambank Seeks Offers to Acquire Brand Assets of Legacy Furniture Brand Klaussner
March 18, 2024Hilco Streambank (www.HilcoStreambank.com), a leading intellectual property advisory firm specializing in intangible asset advisory services including sell-side, buy-side and valuation expertise, announced that it is seeking offers to acquire the brand assets of the Klaussner home furnishings brand.
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Grasshopper Expands Fund and Sponsor Banking Team with Addition of Gabrielle Piasio
March 18, 2024Grasshopper, the client-first digital bank built for the business and innovation economy, today announced the addition of Gabrielle Piasio as Senior Vice President of Sponsor Banking, marking the bank's continued momentum and commitment to providing comprehensive lending and depository solutions to companies of all stages
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Comerica Bank Appoints Tim Maiden as Group Manager of Southern Dallas Business Banking Team
March 18, 2024Comerica Bank named Tim Maiden Senior Vice President, Group Manager for its Southern Dallas Business Banking Team. He will report to Corey Bailey, Executive Vice President, Executive Director, Middle Market & Business Banking
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Suburban Propane Partners, L.P. Announces Refinancing of Revolving Credit Facility
March 18, 2024Suburban Propane Partners, L.P. (NYSE:SPH) (the "Partnership"), a nationwide distributor of propane, renewable propane, renewable natural gas, fuel oil and related products and services, as well as a marketer of natural gas and electricity and investor in low carbon fuel alternatives, today announced the refinancing of the $500 million senior secured credit facility (the "Revolving Credit Facility") of its operating partnership, Suburban Propane, L.P.
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Grant Thornton to Accelerate Business Strategy with Investment from New Mountain Capital
March 18, 2024Grant Thornton LLP, one of America’s leading providers of audit and assurance, tax, and advisory services, and New Mountain Capital, LLC, a leading growth-oriented investment firm with approximately $50 billion in assets under management, today announced a significant growth investment to accelerate Grant Thornton’s business strategy.
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Landsea Homes Announces Commencement of Private Offering of Senior Notes
March 18, 2024andsea Homes Corporation (Nasdaq: LSEA) (“Landsea Homes” or the “Company”) announced today that it intends to offer $300,000,000 aggregate principal amount of senior notes due 2029 (the “Notes”), subject to market conditions and other factors. The Notes will be guaranteed, jointly and severally, on a senior unsecured basis, by all of the Company’s material wholly owned subsidiaries as of their issuance (the “Guarantors”) and will rank pari passu with all other unsecured and unsubordinated indebtedness of the Company and Guarantors.
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FCPT Announces New $85 Million Term Loan Under Existing Credit Facility
March 18, 2024Barclays Bank PLC acted as Syndication Agent and Joint Lead Arranger on the Term Loan with J.P. Morgan Chase Bank, N.A. remaining as administrative agent. The additional lenders acting as Joint Lead Arrangers and Co-Documentation Agents were The Huntington National Bank, Mizuho Bank, Ltd, Raymond James Bank, Truist Bank, and Wells Fargo Bank, N.A..
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