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- Quickpay Funding Provides $200,000 Factoring Facility to Fresh Produce Wholesaler Ahead of Peak Season
- Eversheds Sutherland Continues to Build Momentum in Texas with Addition of Three Houston Partners
- Ares Raises Combined $5.4 Billion for U.S. and Europe Value-Add Real Estate Strategies
- Blue Owl Capital Announces $2.9 Billion Final Close for Asset Special Opportunities Fund
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Otterbourg Promotes James Cretella to Chairman of The Finance Department
Otterbourg P.C. announced today that James Cretella has been named Chairman of the Firm’s Finance Department.
A career member of Otterbourg’s Finance Department, Mr. Cretella represents institutional lenders, factoring companies and specialty lenders, as well as borrowers, in a variety of asset-based lending, specialty finance and other corporate transactions. In 2021, he was named Chair of the Alternative and Specialty Finance practice group.
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Restaurant Rebound Tests the Limits of U.S. Food Distributors
Foodservice distributors generally adapted well to the massive disruptions triggered by the pandemic, but the sector is feeling the strain of the latest shift—the rapid return of tens of millions of Americans to in-person dining.
TSL Express Daily Headlines & News
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Truist Partners with Standard Chartered to Strengthen Trade Finance Capabilities in Emerging Markets
September 20, 2023Standard Chartered Americas (the “Bank”) today announced that it has entered a trade finance partnership with Truist Bank (NYSE: TFC) that will enhance Truist clients’ ability to conduct global business.
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Golub Capital Leads $3.4 Billion Unitranche Facility for Hyland Software
September 20, 2023Golub Capital acted as Administrative Agent, Left Lead Arranger and Joint Bookrunner on a $3.4 billion unitranche facility for Hyland Software ("Hyland"). The proceeds will be used to refinance Hyland's existing broadly syndicated debt which is made up of a first lien loan, second lien loan and revolving credit facility.
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Soft Surroundings Files for Bankruptcy, Partially Acquired by Coldwater Creek
September 20, 2023Women’s apparel retailer Soft Surroundings last week filed for Chapter 11 bankruptcy and announced plans to close all 44 of its stores. The company’s remaining assets have been acquired by Coldwater Creek under the ownership of Newtimes Group, which plans to continue to sell Soft Surroundings' apparel and accessories online and via catalogs. Soft Surroundings has secured $18 million in debtor-in-possession financing from liquidation consultancy Gordon Brothers to enable business continuity.
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UpHealth Subsidiary, UpHealth Holdings, Files Voluntary Reorganization Under Chapter 11 of the U.S. Bankruptcy Code
September 20, 2023UpHealth, Inc. (“UpHealth,” the “Company”) (NYSE: UPH), a global digital health company delivering technology platforms, infrastructure, and services to modernize care delivery and health management, today announced that its subsidiary, UpHealth Holdings, has filed a voluntary petition for reorganization under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware
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Leveraged Finance Industry Veteran Anthony Sage joins Termgrid
September 20, 2023Termgrid, the software platform for private capital markets today announced that Anthony Sage has joined as Global Head of Private Credit and Bank Coverage.
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Cambridge Bancorp Enters Into Definitive Agreement to Merge with Eastern Bankshares, Inc.
September 20, 2023Cambridge Bancorp (NASDAQ: CATC) ("Cambridge"), the parent company of Cambridge Trust Company ("Cambridge Trust"), and Eastern Bankshares, Inc. ("Eastern") (NASDAQ Global Select Market: EBC), the stock holding company for Eastern Bank, announced they have entered into a definitive merger agreement pursuant to which Cambridge will merge with and into Eastern in an all-stock transaction valued at approximately $528 million.
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U.S. Bank Names Kai Sakstrup Chief Product Officer for WCIB division
September 20, 2023U.S. Bank announced today that strategy and marketing executive Kai Sakstrup has been named chief product officer for its Wealth, Corporate, Commercial and Institutional Banking (WCIB) division. Beginning Oct. 1, Sakstrup will lead a cross-functional team in developing and creating new products across the WCIB organization to better serve wealth and institutional clients, commercial businesses and corporations.
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Sallyport Commercial Finance Provides $1.5 Million for an Oil and Gas Services Company
September 20, 2023Sales growth meant this flourishing oil and gas services business needed additional working capital to fulfill a growing number of orders. With a limited financial history, the banks were reluctant to help and they were referred to Sallyport.
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Baker Garrington Capital Corp. Announces New Funding Transactions
September 20, 2023Baker Garrington Capital Corp. announced it originated a $1 million factoring facility for a company in the energy sector based in Texas. Funds were needed for cash flow.
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Baker Garrington Capital Corp. Announces New Funding Transactions
September 20, 2023Baker Garrington Capital Corp announced it has provided a $3 million factoring facility to a company in the construction and energy industries, based in Texas. Funds were needed for cash flow.
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IMER USA Partners with SLR Equipment Finance
September 20, 2023IMER USA and SLR Equipment Finance announced today that the companies have entered into a strategic partnership that provides custom financing solutions for IMER USA’s end users.
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Enfusion Announces Closing of New $100 Million Credit Facility
September 20, 2023Enfusion, Inc. (“Enfusion”) (NYSE: ENFN), a leading provider of cloud-native software-as-a-service (SaaS) solutions for investment managers, announced today that on September 15, 2023, it entered into a new $100 million revolving credit facility.
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LSQ Creates AR Finance Facility for Plastics Recycler
September 20, 2023LSQ, a leading provider of working capital and payments management solutions, recently originated a $5 million credit facility for an automotive parts producer. The manufacturer had been struggling to meet its obligations to its suppliers and had to find additional liquidity.
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Kristyn Scott Joins Mitsubishi HC Capital America as Director of Capital Markets
September 20, 2023Mitsubishi HC Capital America, the largest non-bank, non-captive finance provider in North America with $7.5 billion in owned and managed assets, is pleased to announce that Kristyn Scott has recently joined the company as Director of Capital Markets.
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First Business Bank’s Asset-Based Lending Group Funds $12 Million Credit Facility For Refinance
September 20, 2023Michael Doyle, vice president – Asset-Based Lending at First Business Specialty Finance, LLC, a subsidiary of First Business Bank, announces a recently closed and funded $12,000,000 revolving line of credit, equipment term loan, and equipment CapEx line for an oilfield service company in Texas.
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SLR Credit Solutions Agents $40.0MM Credit Facility for Bargain Hunt›
September 19, 2023SLR Credit Solutions (“SLR CS”) announced the closing of a $40,000,000 senior credit facility comprising a revolver and term loan for Essex Technology Group, LLC (dba Bargain Hunt or “the Company”).
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Neuberger Berman High Yield Strategies Fund Announces Leverage Refinancing
September 19, 2023Neuberger Berman High Yield Strategies Fund Inc. (NYSE American: NHS) (the "Fund") announced today that it has successfully refinanced its leverage by entering into a new revolving debt financing facility ("Revolving Credit Facility") with a major unaffiliated financial institution.
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Mercer International Inc. Announces Plans to Issue $200 Million of Senior Notes in Private Offering
September 19, 2023Mercer International Inc. (Nasdaq: MERC) (the "Company") today announced that it intends to offer for sale (the "Offering") $200.0 million in aggregate principal amount of senior notes due 2028 (the "2028 Notes").
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Dave Amends Credit Facility to Increase Capacity and Advance Rate, Reduce Cost of Funds, and Extend Maturity
September 19, 2023Dave Inc. (“Dave” or the “Company”) (Nasdaq: DAVE), one of the nation’s leading neobanks, has amended its existing Delayed Draw Senior Secured Loan Facility (the “Credit Facility”) with Victory Park Capital Advisors, LLC (“VPC”), effective September 13, 2023.
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Concord Serves as Exclusive Financial Advisor and Arranges $20MM in Senior Debt Financing for Global Company
September 19, 2023The Company is a leading innovator and provider of services and solutions for intelligent transportation systems in North America, and is one of the top four companies in their space in the U.S.
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