TSL Express Daily Articles & News
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Evans Transportation Services Inc. announced it has closed a new credit facility with PNC Bank, N.A. The new larger credit facility will serve as a vehicle for supporting the company’s current growth trajectory, which includes a revenue increase from $80 million to $400 million since 2018. Officials said newly expanded resources add support for Evans’ scalable growth, while allowing the company to return meaningful value to its client-carriers.
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What if I don’t want to come back? Do I have to disclose whether I was vaccinated to my employer? What are the impacts of remote operations from a commercial real estate perspective? How does corporate culture survive in a remote or hybrid environment? What is the impact on career mobility? How are new technologies being deployed to revolutionize workflows and the customer experience in the equipment finance industry?
As the country continues to make its comeback after more than a year of fear and uncertainty from COVID-19, we are left with a lot of questions on what this all means about the work world—returning to offices and what the future will look like. In response to this, SFNet will host its first Innovation Conference, focusing on The Future of Work on July 14 and July 21, 2021 from 12:00-3:00 EDT each day. The Conference will focus on what the world of secured finance will look like as we emerge from the crisis. Attendees will walk away with the knowledge of whether their business is leading, adapting or falling behind.
TSL Express Daily Headlines & News
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Julie A. Bonness Appointed as Senior Vice President - Global Strategic Partnerships at SAPRO
August 8, 2023SAPRO, a renowned global talent outsourcing firm providing expert professionals in tax, audit, and advisory services, is thrilled to announce the appointment of Julie Bonness as the new Senior Vice President - Global Strategic Partnerships.
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Legacy Corporate Lending Expands Team with Addition of Anthony DiChiara as Managing Director of Originations
August 8, 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 that Anthony DiChiara has joined the firm as Managing Director of Originations.
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NOG Announces Expansion of Revolving Credit Facility
August 7, 2023Northern Oil and Gas, Inc. (NYSE: NOG) (the “Company” or “NOG”) today announced the completion of its semi-annual borrowing base redetermination under its reserves-based revolving credit facility (the “Facility”). In connection with the redetermination, NOG entered into an amendment to the Facility that will increase the borrowing base to $1.8 billion (from $1.6 billion) and increase the elected commitment amount to $1.25 billion (from $1.0 billion).
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Credibly Announces Management Buyout
August 7, 2023Brean Capital and RBC Capital Markets served as financial advisors on this transaction, and Brean Capital also served as the placement agent.
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Gibraltar Equipment Finance Provides $1MM to Transportation Maintenance Contractor
August 7, 2023Gibraltar Equipment Finance (GEF), a non-bank, middle market equipment financing company and affiliate of Gibraltar Business Capital, is pleased to announce the successful completion of a $1MM equipment financing transaction.
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Flatbay Capital Funds a $1.7MM Bridge Loan to Premier Fiber Internet Provider
August 7, 2023Flatbay Capital funds a $1.7MM bridge loan to a Houston, Texas-based provider of private fiber-optic connections to cities, municipalities, and educational institutions across the state. The commercial real estate loan was secured by an owner-occupied light industrial building whose main use is a data center.
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Austin Financial Services Closes a $10MM Club Facility to a toy Manufacturer and Distributor
August 7, 2023Austin Financial Services, Inc. (AFS) is pleased to announce the closing of a $10MM club ABL facility to a toy manufacturer and distributor. Proceeds from AFS’ revolver were used for seasonal inventory purchases and will also provide ongoing working capital to support the Company’s growth plans.
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Bright Health Group Secures Financing to Support Operations Pending the Expected Close of California Medicare Advantage Business Sale
August 7, 2023Bright Health Group, Inc. (“Bright Health” or the “Company”) (NYSE: BHG), the technology enabled, value-driven healthcare company, today announced that it entered into a credit facility with an investment partnership of New Enterprise Associates (“NEA”) with $60 million of credit capacity on August 4, 2023.
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OncoSec R&D Facility and Lab Goes to Auction on Aug. 10
August 7, 2023By order of a U.S. bankruptcy court, Tiger Group and Liquidity Services on Aug. 10 will auction OncoSec Medical Inc.’s former immunotherapy laboratory and R&D facility in San Diego.
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1st Capital Bancorp Announces Change In Executive Management Position
August 7, 20231st Capital Bancorp (the “Company”), (OTCQX: FISB), the $960 million asset bank holding company and parent company of 1st Capital Bank (the “Bank”), announced a recent change in executive management.
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Janus International Group Successfully Completes Debt Refinancing
August 7, 2023Janus International Group, Inc. (NYSE: JBI) (“Janus” or the “Company”), a leading provider of cutting-edge access control technologies and building product solutions for the self-storage and other commercial and industrial sectors, today announced a series of related transactions to refinance its debt.
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Macquarie Leads $275 Million Syndicated Financing for Precious Metals Merchant Auramet
August 7, 2023Auramet was pleased to expand its lender group to include Wells Fargo Bank. The Facility also includes previous participants Coöperatieve Rabobank U.A., N.Y. Branch, HSBC Bank USA, N.A., Commonwealth Bank of Australia, CIBC Bank USA, and Brown Brothers Harriman & Co.
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Franklin BSP Realty Trust, Inc. Announces Closing of a $80 Million Loan on the Alexan Waterloo, a Luxury High-Rise Multifamily Property
August 7, 2023Franklin BSP Realty Trust, Inc. (NYSE: FBRT) (“FBRT” or the “Company”) today announced the closing of a $80 million loan facilitating the refinancing of the Alexan Waterloo (“the Alexan”), a 272-unit, 30-story, 2021-vintage luxury high-rise multifamily property located in downtown Austin, Texas, centrally located to the medical district. Crow Holdings Capital (the “Borrower”, “Crow”) is the property developer and is a subsidiary of Crow Holdings, a privately owned real estate investment and development firm with more than 70 years of history and approximately $24 billion of assets under management.
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Credit Card Fintech Petal Secures $200m Debt Facility from Victory Park Capital
August 7, 2023The credit card start-up has secured a $200 million debt facility from Victory Park Capital (VPC) and a new term loan facility for up to $20 million of incremental commitments with Trinity Capital.
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Rosenthal & Rosenthal Promotes Derek Sigler to EVP, Northeast Region Co-Portfolio Manager
August 7, 2023Rosenthal & Rosenthal has promoted Derek Sigler to EVP, Northeast Region Co-Portfolio Manager. Derek has been at Rosenthal for more than 10 years and will work alongside his colleague Josh Ceccarelli to run the Northeast factoring portfolio.
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CoreWeave Secures $2.3 Billion Debt Financing Facility led by Magnetar Capital and Blackstone to Meet Surging Demand and Ongoing Expansion of Specialized Cloud Infrastructure to Power AI
August 7, 2023CoreWeave, a specialized cloud provider of large-scale GPU-accelerated workloads, today announced it has secured a $2.3 billion debt financing facility. The funding was led by Magnetar Capital and funds managed by Blackstone Tactical Opportunities ("Blackstone") with strategic participation from leading asset management firms Coatue and DigitalBridge Credit, and funds and accounts managed by BlackRock, PIMCO, and Carlyle.
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Flux Power Closes New $15 Million Credit Facility with Gibraltar Business Capital
August 7, 2023-Flux Power Holdings, Inc. (NASDAQ: FLUX), a developer of advanced lithium-ion energy storage solutions for electrification of commercial and industrial equipment, today announced that it has secured a new $15.0 million credit facility from Gibraltar Business Capital (“GBC”) to fund working capital and to refinance its existing credit facility with Silicon Valley Bank (“SVB”).
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Eclipse Business Capital Provides $23.4 Million ABL Credit Facility
August 7, 2023Eclipse Business Capital LLC (“EBC”) announced that it has provided a $23.4 million senior secured ABL credit facility to a distributor of travel products and accessories. The Company primarily sells branded products through Amazon and other various retailers.
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A&G Named 'Real Estate Restructuring Firm of the Year’ in 15th Annual Turnaround Atlas Awards
August 7, 2023Global M&A Network has named A&G Real Estate Partners “Real Estate Restructuring Firm of the Year” as part of its 15th Annual Turnaround Atlas Awards—the latest recognition of A&G’s national role as a provider of portfolio-optimization strategy, lease-restructuring and real estate sales.
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X4 Pharmaceuticals Closes $115 Million Loan Facility with Hercules Capital
August 7, 2023X4 Pharmaceuticals (Nasdaq: XFOR), a leader in the discovery and development of novel small-molecule therapeutics to benefit people with rare diseases of the immune system, today announced the closing of a $115 million loan facility with Hercules Capital, Inc. (NYSE: HTGC) (“Hercules”).
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