- Heritage Global Valuations Appoints Elise DiBenedetto as Director of Business Development
- Monroe Capital Supports Altamont Capital Partners’ Investment in Key Container
- Montepino Logística Secures €460.0 Million Green Syndicated Financing for Logistics Real Estate Portfolio
- Mattr Announces Closing of Credit Facility Extension
- NextGen Growth Partners Grows Executive Team
TSL Express Daily Articles & News
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C2FO Expands Leadership Team With Addition of Chief Credit Officer and Chief Accounting Officer
C2FO, the world’s on-demand working capital platform, announced the addition of two new executive roles to its leadership team, naming Dan Karas as its first chief credit officer and promoting Controller Bri Simoneau as the first chief accounting officer. Karas brings extensive leadership experience in lending and risk management, and Simoneau brings deep knowledge and experience in financial controls and reporting. Both executives will be essential as C2FO continues to enhance its business and overall global footprint.
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(Editor’s Note: This is the beginning of a new interview series by Charlie Perer of SG Credit Partners.)
In this installment of our series of executive interviews, Charlie Perer sits with Ken Pardue to understand his plans to grow Triumph, the pace of change in the ABL business and state of the market, among other things.
TSL Express Daily Headlines & News
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Marc Cadieux Appointed President of Silicon Valley Bank Commercial
June 8, 2023First Citizens Bank today announced that Marc Cadieux, a 30-year veteran of Silicon Valley Bank (SVB), has been appointed President of Silicon Valley Bank's commercial banking business. Based in the California Bay Area, Cadieux leads an SVB Commercial team of more than 1,000 experienced bankers nationwide who are dedicated to the innovation economy.
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Republic Bank Appoints Francis Mitchell as Senior Vice President, Treasurer and Chief Investment Officer
June 8, 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 Francis "Fran" Mitchell as Senior Vice President, Treasurer and Chief Investment Officer, effective June 1, 2023.
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Energy Capital Partners and Former GIP Credit Partners Launch ECP ForeStar Sustainable Credit Platform
June 8, 2023Energy Capital Partners (“ECP”), a leading energy transition-focused investor with a nearly two-decades-long track record of investments in the electricity, clean energy, renewable and sustainable infrastructure sectors, today announced that a team led by former Global Infrastructure Partners’ (“GIP”) partners, Jennifer Powers and Reiner Boehning, will merge into ECP’s dedicated credit investing business and launch a sustainable credit platform named ECP ForeStar.
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Apollo Announces Expansion of ATLAS SP Partners and ABF Franchise with Cornerstone Commitments from ADIA
June 8, 2023Apollo (NYSE: APO) (or the “Firm”) today announced that its newly established Asset-Backed Finance (ABF) franchise and ATLAS SP Partners, two core components of the Firm’s broad asset-backed ecosystem and strategy to directly originate an increasing share of the $20 trillion global asset-backed financing market, have received cornerstone capital commitments from a wholly owned subsidiary of the Abu Dhabi Investment Authority (“ADIA”).
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ARM Energy and Rabobank Enter $110 Million Credit Facility
June 8, 2023ARM Energy Services, LLC (AES), a private energy marketing firm and one of the leading North American physical natural gas marketers, has entered into a $110 million senior secured revolving credit facility with Rabobank as administrative agent, book runner and lead arranger.
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BMW Group Successfully Completes €8bn Revolving Credit Facility
June 8, 2023The BMW Group has signed a €8.0 billion syndicated revolving credit facility (RCF) with a tenor of five years and two one-year extension options. A total of 43 international and regional banks from Europe, America and Asia have taken part in the transaction. With BNP Paribas, Citi and Deutsche Bank as coordinating bookrunners, the BMW Group has replaced the existing RCF of €8.0 billion signed in 2017.
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Bread Financial Announces Refinancing Commitments
June 8, 2023Bread Financial Holdings, Inc. (NYSE: BFH) announced today that it has entered into a credit agreement with JPMorgan Chase Bank, N.A., and other financial institutions, pursuant to which the lenders have agreed to provide a $700 million senior unsecured revolving credit facility and a $575 million senior unsecured delayed draw term loan facility, subject to certain conditions.
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BlackRock, Inc. to Acquire Private Debt Manager Kreos Capital
June 8, 2023BlackRock Inc. (NYSE: BLK) and Kreos Capital (“Kreos”) today announced a definitive agreement under which BlackRock will acquire full control of Kreos, a leading provider of growth and venture debt financing to companies in the technology and healthcare industries.
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Flatbay Capital Announced the Funding of an Automotive Company
June 7, 2023Flatbay Capital announces the funding of a $2.2MM owner-occupied commercial real estate loan for a Central Texas-based automotive organization. The 15-year-old company provides repairs for domestic, Asian, and European vehicles.
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Alleon Healthcare Capital Provides a $500,000 Medical Accounts Receivable Factoring Facility to a California based Management Services Organization
June 7, 2023Alleon Healthcare Capital (“Alleon”), a specialty finance company focused on providing healthcare accounts receivable financing, medical accounts receivable factoring, and cash flow solutions to medical providers in the U.S., recently closed a $500,000 medical accounts receivable factoring facility with a management service organization in California (“Company”).
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BHI Provides $29.25 Million Construction Financing to ZDJ Jamaica LLC
June 7, 2023BHI, a full-service commercial bank, announced that it has provided a $29.25 million loan to ZDJ Jamaica LLC. Funds from this loan will finance the construction of 138-45 Jamaica Avenue, located in Jamaica, Queens.
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B. Riley Serves as Exclusive Financial Advisor to Gladstein, Neandross & Associates in Acquisition
June 7, 2023B. Riley Securities, Inc. ("B. Riley"), a leading middle market investment bank, is pleased to have served as exclusive financial advisor to Gladstein, Neandross & Associates (“GNA” or "the Company"), in connection with its sale to TRC Companies, Inc. (“TRC”), a portfolio company of Warburg Pincus.
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First Citizens Bank Announces Promotions in CIT Commercial Services Top Leadership Roles
June 7, 2023First Citizens Bank today announced that Marc Heller has been promoted to the position of vice chairman of CIT Commercial Services[1], a subsidiary of First Citizens Bank, and that Michael Hudgens has been promoted to the role of CIT Commercial Services president with full responsibility for the day-to-day operation of the business. The new appointments are effective July 1.
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Chris Saldana Moves Into a Business Development Role for CIBC
June 7, 2023Chris Saldana moves into business development role for CIBCs US Asset-based Lending team. Prior to joining CIBC as a underwriter in 2022, he served as regional executive leading Southwest originations at First Business Capital Corp.
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HPS Investment Partners Closes $10 Billion in New Investable Capital for HPS Core Senior Lending Fund II and Parallel Funds
June 7, 2023HPS Investment Partners, LLC ("HPS"), a leading global credit investment firm with $101 billion in assets under management, today announced the closing of its second Core Senior Lending Fund ("CSL II") and parallel investment funds and accounts, with approximately $10 billion in investable capital. This includes $7.3 billion in equity commitments.
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RSM US Middle Market Business Index Eases, Business Conditions Remain Solid
June 7, 2023The RSM US Middle Market Business Index (MMBI), presented by RSM US LLP ("RSM") in partnership with the U.S. Chamber of Commerce, eased to 131.3 in the second quarter, down modestly from 134.0 in the first quarter on a seasonally adjusted basis.
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Eightco Holdings Inc. Secures Asset Based Lending Facility for Forever 8
June 7, 2023Eightco Holdings Inc. (NASDAQ: OCTO), a leader in the e-commerce inventory solutions space is pleased to announce a milestone in its growth journey. The company has successfully closed an asset-based lending facility (ABL) from several investors, including members of its management team and the visionary founders of Forever 8.
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TraQiQ Announces the Acquisition of Titan Trucking Facilitating Its Strategic Shift Towards Environmental Services
June 7, 2023TraQiQ, Inc. (OTC QB: TRIQ) (the "Company" or "TraQiQ"), a leading diversified waste and recycling services provider, today announced that it has closed the acquisition of Titan Trucking, LLC as it continues to execute the Company’s plan to shift its focus to providing traditional and alternative environmental services.
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Stellus Capital Management, LLC Provides Unitranche Financing to Support the Acquisition of Pink Buckle and Ruby Buckle by Equine Network, a Portfolio Company of Growth Catalyst Partners
June 7, 2023Stellus Capital Management, LLC (“Stellus”) announced today that its affiliates provided senior debt financing to support the acquisition of Pink Buckle and Ruby Buckle (“P&R”), a series of prestigious barrel racing competitions, by Equine Network, LLC (“Equine Network” or the “Company”), a portfolio company of Growth Catalyst Partners (“GCP”).
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Mountain Ridge Capital Announces New Executive Hire
June 7, 2023Mountain Ridge Capital (www.mountainridgecap.com), an asset-based commercial finance company, announced the hiring of Daniel Williams as a Managing Director of Business Development covering the Northeast region. Mountain Ridge seeks to provide creative asset-based financing solutions that commercial banks do not wish to provide or cannot provide.
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