- J D Factors Provides $14.7 Million in New Factoring Facilities in May
- Hedaya Capital Helps Pillow and Home Décor Importer Enter New Growth Phase with $1 Million Factoring Facility
- Hallmark Financial Services Takes Strategic Action to Strengthen Holding Company Capital Structure and Support Long-Term Success
- J D Factors Provides $14.7 Million in New Factoring Facilities in May
- Jones Day’s Growth in Real Assets Continues With Arrival of Commercial Real Estate Transactions Partner Tim Swearingen in New York
TSL Express Daily Articles & News
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Today's Top Story
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Encina Lender Finance Provides $50MM Credit Facility for Mountain Ridge Capital
Ed Chang, CEO of ELF, said, “We are proud to support Mountain Ridge Capital and its senior management team comprised of long-standing industry veterans, who have a demonstrated and impressive track record in asset-based lending. We look forward to working closely with Craig Winslow and his team as they continue to grow their business.”
TSL Express Trending Story
Featured
SFNet's Cross-Border Lending Summit is back in a two-part virtual conference and will explore what the cross-border ABL world looks like now. The event will be live online over two days, Thursday, Sept. 23 and Thursday, Sept. 30 from 10:00 a.m.-12:00 p.m. EDT each day.
The Summit will discuss:
- the UK—First it was Brexit, then it was COVID, then it was sausages. Now what?
- A deep dive into the Luxembourg pool to consider Luxco lending structures for the first time
- A two-part exploration of cross-border ABL financing in 2021 and beyond. Are there now two universes?
Thank you to our conference sponsor, Winston & Strawn LLP.
TSL Express Daily Headlines & News
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Legacy Corporate Lending Secures $100 Million Credit Facility from Wells Fargo
October 24, 2023Legacy Corporate Lending, LLC (“Legacy”), an independent asset-based lending (ABL) company focused on serving the needs of middle market companies across North America, today announced the closing of a $100 million senior credit facility from Wells Fargo Capital Finance. The facility will support Legacy’s continued growth in serving the middle market ABL space.
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HealthCare Royalty Announces Closing of Credit Facility, New Debt Focused Fund and Appointment of Josh House as West Coast Lead
October 24, 2023HealthCare Royalty (“HCRx” or the “Company”), a leading middle market royalty acquisition firm that has raised $7.6 billion in capital since inception, today announced several important firm developments:
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Cantaloupe Named “2023 Champion of Board Diversity” by The Forum of Executive Women for Third Year in a Row
October 24, 2023Cantaloupe, Inc. (NASDAQ: CTLP), a digital payments and software services company that provides end-to-end technology solutions for self-service commerce, is honored to be recognized as a “2023 Champion of Board Diversity” by The Forum of Executive Women, a Greater Philadelphia premier women’s organization. This is the third year in a row that Cantaloupe has been honored.
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EisnerAmper’s Wilen Selected Turnaround Management Association Global President for 2024
October 24, 2023Global business advisory firm EisnerAmper announces that Allen Wilen, Partner and National Director of the firm’s Financial Advisory Services Group, has been named the Global President of the Turnaround Management Association (“TMA”) for the organization’s 2024 term.
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King Trade Capital Provides a $3MM Purchase Order Finance Line
October 24, 2023King Trade Capital (“KTC”) is pleased to announce the completion of a $3MM purchase order finance facility for an aircraft parts company based in Texas. King Trade Capital was introduced to the company by a prior Client of KTC’s, who suggested that King Trade’s expertise and financial capabilities could help them execute upon their sales growth.
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First Citizens Provides $60 Million Credit Facility for 200-Megawatt Battery Storage Project in California
October 24, 2023First Citizens Bank today announced that its Energy Finance business has served as lead agent on $60 million in financing to Gore Street Energy Storage Fund plc for the development of a 200-megawatt battery storage project located in Imperial County, California.
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First Business Bank Funds $1 Million Factoring Facility to Software Development Company
October 24, 2023First Business Bank announces that its Accounts Receivable Financing team recently funded a $1 million factoring facility to a software development company. First Business Bank’s new client specializes in developing software solutions that enhance the automation and efficiency of its customers.
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Everbank Welcomes Five New Experienced Hires to Support Its Newly Launched Fund Finance Division
October 24, 2023EverBank, formerly TIAA Bank, is proud to announce the addition of five experienced leaders to its recently launched Fund Finance division.
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Trafigura Closes USD2.7 Billion-equivalent Syndicated Revolving Credit Facility and Term Loan Facilities
October 23, 2023Trafigura Group Pte Ltd (“Trafigura”), a market leader in the global commodities industry, announced the closing of its new Syndicated Revolving Credit Facility (“RCF”) and Term Loan Facilities (the “Facilities”) at c. USD2.7 billion-equivalent. The Facilities were substantially oversubscribed and upsized from their initial launch amount of USD2.0 billion-equivalent, with 30 financial institutions participating in the transaction, including four new lenders.
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Castlelake to Provide $200 Million Private Structured Financing Solution to Oportun to Finance Personal Loan Product
October 23, 2023Castlelake, L.P., a global alternative investment firm specializing in asset-based opportunities and Oportun (Nasdaq: OPRT), a mission-driven fintech, today announced the entry into a new agreement whereby certain of Castlelake funds and affiliates, will provide a $200 million private structured financing solution to Oportun. Under the terms of the agreement, Oportun will use the funds to finance the origination of its personal loan products.
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SFNet Prepares to Respond to Interagency Notice of Proposed Rulemaking Modifying Bank Capital Requirements
October 23, 2023SFNet’s Advocacy Committee has assembled a task force including member banking institutions, legal resources and strategic advisors to address proposed new regulations incorporating Basel III risk weighted capital standards.
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Austin Financial Services Closes $8MM ABL Facility with an Equipment T/L to a PE owned Metal Door Manufacturer
October 23, 2023Austin Financial Services, Inc. (AFS) is pleased to announce the closing of an $8MM ABL facility, which includes an equipment term loan, to a manufacturer of metal door and hallway systems for the self-storage industry. Proceeds from AFS’ revolver and term loan will be used to purchase materials to support order demand and execute the Company’s long-term growth projections.
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Sallyport Commercial Finance Provides $350,000 in Financing for Oil and Gas Business
October 23, 2023Sallyport Commercial Finance announced it has provided a $350,000 accounts receivable facility for an oil and gas services business to step forward with their plans after the bank was unwilling to extend their facility. The facility will allow the company to reduce their accounts payable obligations and focus on growing sales in some of their target regions.
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Armory Advises Kent's Bromeliad Nursery on Sale to Elevate Living Design Inc.
October 23, 2023Kent’s Bromeliad Nursery (“KBN”) is one of the world’s leading suppliers of premium Bromeliad plants. Its expert team of horticulturists have extensive knowledge of bromeliad cultivation that has resulted in creation of over 47 unique bromeliad plant varieties and more than 19 patents for additional hybrids.
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Hilco Redevelopment Partners Breaks Ground on Vertical Construction at The Bellwether District
October 23, 2023Hilco Redevelopment Partners (HRP) broke ground today on the first phase of vertical construction on The Bellwether District’s 1,300-acre South Philadelphia site.
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Solifi wins Digital Innovation of the Year at the Motor Finance Europe Awards
October 23, 2023Solifi, a global fintech software partner for secured finance, received an accolade at the 9th annual Motor Finance Europe Awards in the Digital Innovation of the Year (Technology Company), Retail Solutions/Vehicle Management category. The Awards, which took place in Vienna on 19 October, celebrate organisations across the European automotive finance industry for their expertise in various categories.
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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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