- Donald Cosenza, CLFP Joins Maxim Commercial Capital as SVP, Business Development
- Westwood Financial Expands Corporate Credit Facility By $145 Million To $470 Million Total
- Seth Friedman of Abacus Finance Group Appointed to SBIA Board of Governors as Northeast Regional Chair
- Asset-Based Lending & Factoring Surveys
- Errin Richardson Glasgow Named as new President of Nationwide Operations of Cascade Credit Services, LLC
TSL Express Daily Articles & News
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Gordon Brothers, the global advisory, restructuring and investment firm, has provided Everlane Inc. a $25 million term loan that’s secured by the sustainable apparel, accessories and footwear retailer’s digitally native brand and working capital assets. Everlane will use the loan to support over a decade of continued growth.
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The thing I love most about stoicism is the ability to combine its philosophy at work and home. Most people, myself included, do not truly look at themselves dispassionately in either setting. We are great, we are smart, we are everything someone should be and capable of everything; until we are not. I experience this recently when I had to look deep inside myself and acknowledge that like all people, I am flawed and have weaknesses. Most people overestimate their skills while failing to give themselves credit for what they are really great at. When you truly understand who you are, you will be better at every aspect of your job. What does this have to do with lending, you might ask; patience is another stoic virtue.
TSL Express Daily Headlines & News
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GoldenTree Announces Closing of $493 Million CLO Under GLM Strategy
June 26, 2023GoldenTree Loan Management II (“GLM II”) and its affiliated investment manager GoldenTree Asset Management LP (along with other affiliated investment managers “GoldenTree”), announced the closing of a $493 million collateralized loan obligation (“CLO”) to be managed by GLM II. With the closing of this CLO, GoldenTree Loan Management US CLO 17 (“GLM US CLO 17”), GoldenTree has issued 23 CLOs totaling approximately $13 billion under its GLM CLO strategy.
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HSBC Leads $125 Million Refinancing Deal for Design Group
June 26, 2023HSBC Group has announced that it led a $125 million refinancing deal for IG Design Group plc (Design Group), one of the world’s leading designers, innovators and manufacturers of gift packaging, celebrations, craft and creative play, stationery, gifting, and related product categories.
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TIAA Bank to Become EverBank, a Brand Built on Legacy, Partnership and Forward-Looking Confidence
June 26, 2023Celebrating a fresh start built on a legacy of decades of strong performance and innovative client service, TIAA Bank announced that it will become EverBank.
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Oaktree Closes First Life Sciences Fund at $2.3B
June 26, 2023Oaktree Capital Management has raised $2.3 billion for its oversubscribed first dedicated life sciences fund. The company said the fund will look to provide capital solutions to companies across the life sciences sector globally, with a focus on “high-growth subsectors such as biopharma and medical devices”.
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First Citizens Bank Provides $10 Million in Financing to Nordic Hamburg
June 26, 2023First Citizens Bank today announced that its Maritime Finance group, part of the CIT division, arranged to provide Nordic Handysize IV AS, a subsidiary of Nordic Hamburg, $10 million to finance two dry bulk ships.
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Credit Acceptance Announces Extension of Revolving Secured Line of Credit Facility
June 26, 2023Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) announced today that we have extended the maturity of our revolving secured line of credit facility with a commercial bank syndicate from June 22, 2025 to June 22, 2026.
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Vince Holding Corp. Successfully Completes Refinancing of ABL Credit Facility
June 26, 2023Vince Holding Corp. (NYSE: VNCE) (“VNCE” or the “Company”), a global contemporary retailer, today announced that it has entered into a new five-year credit agreement for an $85 million senior secured asset-based revolving credit facility (“ABL Credit Facility”) expected to mature in June 2028. The new ABL Credit Facility was entered into with Bank of America, N.A acting as administrative agent and replaces the Company's previous $70 million senior secured asset-based revolving credit facility.
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Liberty Defense Announces Factoring Agreement to Support Improved Working Capital Credit Facility up to $10M
June 26, 2023Liberty Defense Holdings Ltd., a leading technology provider of AI-based next generation detection solutions for concealed weapons and threats, announces it has finalized an accounts receivable-based factoring agreement with a well established financial firm that will advance capital to the Company.
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BHI International Commercial and Industrial Team Arranges $40 Million Financing For A Premier Global Insurance Provider
June 26, 2023BHI, a full-service commercial bank, announced that its International Commercial & Industrial Team has provided a $40 million credit facility for the issuance of standby letters of credit to a premier global insurance company. The facility, backed by the premier global insurance provider, will support the ongoing efforts of Doral Renewables LLC (“Doral Renewables”), to further develop its renewable energy pipeline in the US.
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Equipment Leasing and Finance Association’s Survey of Economic Activity: Monthly Leasing and Finance Index
June 26, 2023The Equipment Leasing and Finance Association’s (ELFA) Monthly Leasing and Finance Index (MLFI-25), which reports economic activity from 25 companies representing a cross section of the $1 trillion equipment finance sector, showed their overall new business volume for May was $9.5 billion, up 1 percent year-over-year from new business volume in May 2022. Volume was down 2 percent from $9.7 billion in April. Year-to-date, cumulative new business volume was up 0.9 percent compared to 2022.
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Ares Management Acquires $3.5 Billion Lender Finance Portfolio from Pacific Western Bank
June 26, 2023Ares Management Corporation (NYSE: ARES) (“Ares”), a leading global alternative investment manager, announced today that certain funds managed by its Alternative Credit strategy (“Alternative Credit”) have completed the acquisition of a $3.5 billion specialty finance loan portfolio (the “Portfolio”) from PacWest Bancorp (Nasdaq: PACW).
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Huntington Business Credit Provides $40 Million Credit Facility to Tex-Tube Company
June 26, 2023Huntington Business Credit announced it closed a $40,000,000 new credit facility with Tex-Tube Company on May 25, 2023. Proceeds of the facility were used to refinance existing debt and provide ongoing working capital financing.
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Caltius Structured Capital Fuels AspireHR's Growth with Significant Debt and Equity Investment
June 26, 2023Caltius Structured Capital, is pleased to announce a debt and equity investment in AspireHR, a Human Capital Management (HCM) implementation, software, and managed services firm. The strategic infusion of capital will bolster AspireHR's growth trajectory and allow it to strategically invest in new innovation.
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Republic First Bancorp, Inc. Enhances Senior Leadership Team with Appointment of Brian F. Doran as Executive Vice President and General Counsel
June 26, 2023Republic First Bancorp, Inc. (NASDAQ: FRBK) (the “Company”), the parent company of Republic First Bank d/b/a Republic Bank (the "Bank"), today announced the appointment of Brian F. Doran, Esq., as Executive Vice President and General Counsel, effective June 20, 2023. Mr. Doran has a distinguished background in the financial services industry that includes relevant legal and corporate governance roles at top institutions.
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Theratechnologies Draws Down on US$20 Million Second Tranche Under its Term Loan Facility With Affiliates of Marathon Asset Management
June 26, 2023Theratechnologies Inc. (“Theratechnologies”, the “Company”, or “we”) (TSX: TH) (NASDAQ: THTX), a biopharmaceutical company focused on the development and commercialization of innovative therapies, today announced that it drew down on its second tranche of US$20 million under its credit agreement dated July 20, 2022, as amended (the “Credit Facility”), with certain funds and accounts for which Marathon Asset Management, L.P. acts as investment manager (collectively, “Marathon”).
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Alvarez & Marsal's Automotive & Industrials Group Names Sohin Chinoy a Managing Director In Its Dallas Office
June 26, 2023Mr. Chinoy brings more than two decades of consulting, real-world strategy and M&A experience across a wide field of engagements and management decision levels. He advises global clients in transportation and logistics sectors, supply chain management, industrial automation and robotics technology, commercial real estate, defense and aerospace, and financial services.
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6sense Secures $100 Million Revolving Debt Facility with Silicon Valley Bank
June 26, 20236sense, the leading platform to revolutionize the way B2B organizations create, manage and convert pipeline to revenue, today announced it has secured new debt financing totaling $100 million comprising a senior secured revolving credit facility from Silicon Valley Bank (SVB), a division of First Citizens Bank.
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McGuireWoods Appoints New Office Leaders
June 26, 2023Maintaining the firm’s longstanding practice of rotating key leadership positions, McGuireWoods has appointed new office leaders in Los Angeles; Austin; Washington, D.C.; Pittsburgh; and Tysons, Virginia.
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GridPoint Announces New $150M Credit Facility from HASI to Expand Financing of Energy Optimization Platform
June 26, 2023GridPoint, a leader in energy management and optimization technology that decarbonizes commercial buildings, today announced that HASI (NYSE: HASI), a leading investor in climate solutions, has provided a credit facility of up to $150 million to enable GridPoint to meet the growing demand for its award-winning energy optimization platform.
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Scorpio Tankers Inc. Announces a New Credit Facility
June 26, 2023Scorpio Tankers Inc. (NYSE:STNG) (“Scorpio Tankers” or the “Company”) announced today that it has received a commitment from DekaBank Deutsche Girozentrale for a credit facility of up to $94 million. The credit facility will be used to finance one MR product tanker and three LR2 product tankers.
The Secured Lender
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