- Verano Announces $195 Million Senior Secured Term Loan Refinancing Agreement to Fund Company’s Strategic Growth Initiatives
- Hallador Energy Closes $120 Million Senior Secured Credit Facilities
- Franklin Capital Announces Promotion of Steven Damon to Senior Vice President of Operations and A/R Department Head
- Cumulus Media Announces Agreement to Eliminate Substantially All Remaining Debt and Significantly Strengthen Financial Position
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SFNet Creates the SFNet Guide to the California Commercial Finance Disclosure Laws and Regulations
SFNet is pleased to provide its members with what it believes is the most comprehensive Guide to complying with the controversial new California Disclosure Regulations for Commercial Finance Transactions that go into effect December 9, 2022. The Regulations apply to non-regulated commercial institutions offering financial transactions of $500,000 or less to California borrowers.
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On March 9-11, we will bring ABCC to you live online, with the great content and opportunities for networking that you have come to expect from the conference. The Conference will be accessible through our acclaimed SFNet Connect Platform, offering hours of dedicated and facilitated meeting time each day. This year, we will be offering more insightful sessions than ever before.
“While we are all disappointed that we won’t be able to get together in person for this year’s event, the move to a virtual format has opened up many new possibilities for the actual content,” said Barry Bobrow, managing director, Wells Fargo Securities, LLC and ABCC Conference Chair. “ABCC has always been known for having rich and important content for attendees. Without the requirement for our presenters to be in attendance in Las Vegas we have been able to significantly broaden and strengthen our content for 2021, with significantly more segments than we have been able to include in prior ABCC events.
TSL Express Daily Headlines & News
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HASI Upsizes Revolving Credit Facility to $840 Million, Increasing Liquidity to Fund Growth
June 1, 2023The bank group is led by JPMorgan Chase Bank, N.A. as administrative agent, sustainability structuring agent, lead arranger and bookrunner. Bank of America, N.A., Barclays Bank PLC, Citibank, N.A., Morgan Stanley Bank, N.A., RBC Capital Markets, Sumitomo Mitsui Banking Corporation and Wells Fargo Bank, N.A., are documentation agents.
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Brightwood Capital Advisors Announces Investment Activity Totals for 2022 and Firmwide Growth
June 1, 2023Brightwood Capital Advisors (“Brightwood”), a middle market private credit firm, announced that it deployed nearly $2 billion of capital to 35 new borrowers, in fiscal year 2022. This volume of investment activity was spurred by asset growth across Brightwood’s portfolio throughout the year, with the firm’s assets-under-management (AUM) surpassing $5 billion in 2022.
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Ranger Energy Services, Inc. Announces New Asset Based Lending Facility
June 1, 2023Ranger Energy Services, Inc. (NYSE: RNGR) (“Ranger” or the “Company”), a leading provider of well service rigs and associated services to the oil and gas industry, is pleased to announce the successful closing of a new asset based lending facility (“ABL”) with Wells Fargo Bank, N.A, as administrative agent and sole lender.
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Veteran Bankruptcy and Restructuring Lawyer, Robert "Bob" Fishman, Joins Algon Group as Vice Chairman
June 1, 2023The Algon Group, a specialized financial advisory firm, is pleased to announce that highly-regarded bankruptcy and restructuring lawyer, Robert "Bob" Fishman, has joined the firm as Vice Chairman. Fishman, coming out of a very brief retirement, brings 40 years of experience representing all parties in insolvency/bankruptcy settings, including debtors in possession, trustees, secured creditors, Creditors' Committees and disinterested directors.
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Blackstone Completes Acquisition of Majority Stake of Copeland, Formerly Emerson Climate Technologies
June 1, 2023Blackstone (NYSE: BX) and Emerson (NYSE: EMR) today announced that private equity funds managed by Blackstone (“Blackstone”) have completed the previously announced acquisition of a majority stake in Emerson’s Climate Technologies business in a transaction valuing the business at $14.0 billion. This closing marks a significant milestone in the HVAC and refrigeration (HVACR) industry leader’s journey to advance the next generation of climate technologies.
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Dwight Funding Expands Client Portfolio, Adding High-Growth PE-Backed Consumer Brands
June 1, 2023The recent transactions represent the varying product categories, company sizes, and capital needs addressed by Dwight’s flexible asset-based loans, and help to further position the lender as the go-to in their field.
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Glater Joins CohnReznick as Assurance Partner
June 1, 2023CohnReznick LLP, one of the leading advisory, assurance, and tax firms in the United States, today announced that Greg Glater has joined the firm as a partner in its Assurance practice.
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Commercial Finance Partners Closes $15MM Acquisition of a Metal Stamping and Plating Company
June 1, 2023Commercial Finance Partners (“CFP”) is pleased to announce that it has facilitated the closing of $5,235,000 Conventional Term Loan and $4,000,000 Revolving AR Line of Credit to support the acquisition of a Metal Stamping and Plating Company located in Texas.
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Private Credit Manager Pemberton Appoints First Head of Sustainable Investing
June 1, 2023London-based private credit manager Pemberton Asset Management has recruited sustainable investment veteran Niamh Whooley to spearhead the firm’s ESG ambitions, a further sign of the growing importance of sustainability in private credit markets.
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Natixis Corporate & Investment Banking Leads Financing for US$364 Million Portfolio of PV Projects in Chile
June 1, 2023The portfolio has a combined capacity of approximately 284MWdc. Natixis CIB acted as Sole Debt Structuring Advisor for a US$ 75 million mezzanine facility, Sole Lead Arranger for a US$55 million PMGD bridge-loan facility, co-Lead Arranger for a US$19 million LC Facility, as well as co-Global Coordinator Placement Agent and Green Issuance Coordinator for a US$178 million private placement. A $37 million bridge loan was separately provided.
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Gateway Trade Funding Completes 12 Transactions Totaling More Than $4,700,000
May 31, 2023Gateway Trade Funding, a PO and stretch financing company, is pleased to announce that we have recently completed the following stretch finance transactions:
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Celtic Capital Corporation Provides Funding for a California-based Manufacturer of Tortillas, Wraps and Flat Bread
May 31, 2023He was looking for working capital to fund that growth and Celtic Capital provided a $1,500,000 accounts receivable line of credit and a $738,000 equipment loan to meet the Company’s working capital needs.
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SVP Managing Director of Oxford Commercial Finance Robyn Barrett Named Board President of American Factoring Association (AFA)
May 31, 2023Oxford Commercial Finance (OCF), a subsidiary of Oxford Bank, is announcing its Senior Vice President and Managing Director, Robyn Barrett, has been named incoming president of the American Factoring Association (AFA) for a two-year term.
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Areté Capital Partners Expands Unique Restructuring Approach to Midwest Companies in Distress
May 31, 2023Areté Capital Partners, a boutique, special-situation advisory and capital firm, is pleased to announce the addition of Managing Director Stuart Kaufman. Based out of Chicago, Illinois, Kaufman will enable Areté to expand its services and mission of bringing empathy to the restructuring industry to help successfully navigate more customers through the often painful and difficult process.
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Standard Lithium Retains BNP Paribas to Lead Debt Advisory Services for First Commercial Project
May 30, 2023The debt financing will be used to fund the majority of the Company’s proposed first commercial project, the Lanxess 1A Project, located near El Dorado in southern Arkansas. BNP Paribas is a global leader in the financial advisory and project financing role for battery and critical mineral projects.
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Wildpack Closes US$25 Million Convertible Loan with Sandton Capital Partners and Provides MCTO Update
May 30, 2023Wildpack Beverage Inc. today announces the closing of its previously announced non-revolving term credit facility in the principal amount of USD$25,000,000 pursuant to an amended and restated loan agreement among Sandton Credit Solutions Master Fund V, LP, an affiliate of Sandton Capital Partners, L.P. and the Company's wholly-owned subsidiaries, Thirsty Cat, LLC, Hungry Hippo Company, Wildpack Holdings U.S. Inc., K.T. Murray Corporation, CraftPac LLC, Wild Leaf Holdings U.S. LLC, Vertical Distilling LLC and Wild Leaf Ventures Group Nevada Inc., as borrowers.
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Peoples Bancorp Inc. Elects New Director
May 30, 2023Peoples Bancorp Inc. ("Peoples") (Nasdaq: PEBO) today announced that W. Glenn Hogan has been elected to the Peoples Board of Directors. He also joined the Board of Directors of Peoples' banking subsidiary, Peoples Bank. Mr. Hogan, 61, formerly served as Chairman of the Board of Directors of Limestone Bancorp, Inc. ("Limestone") until Limestone was acquired by Peoples on April 30, 2023. He was a member of the Board of Directors of Limestone since 2006.
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Lazard Appoints Peter R. Orszag as CEO and Kenneth M. Jacobs as Executive Chairman
May 30, 2023Lazard Ltd (NYSE: LAZ) today announced that Peter R. Orszag, currently CEO of Financial Advisory at Lazard, has been unanimously elected by its Board to serve as CEO of Lazard and as a Board Director. Kenneth M. Jacobs, Chairman and CEO of Lazard, will serve as Executive Chairman of the Board and will continue to advise clients on strategic financial matters. These changes will take effect October 1, 2023.
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Sierra Metals Announces Completion of Refinancing Agreement With Major Lenders
May 30, 2023Sierra Metals Inc. (TSX: SMT) (“Sierra Metals” or the “Company”) announces that, in connection with the press release dated March 13th 2023, it has finalized the definitive agreement (the “Agreement”) with Banco de Credito del Peru and Banco Santander S.A. (together, the “Lenders”) to refinance $18.75 million out of the $25.00 million principal debt repayment obligations that were originally due in 2023 under the Company’s senior secured credit facility.
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Entrepreneur Growth Capital LLC Provides $1,000,000 Line of Credit to West Coast Distributor
May 30, 2023Entrepreneur Growth Capital LLC (“EGC”) is pleased to announce the closing of a $1 million asset-based facility for a wholesale distributor of horticultural products. The facility provides availability against both accounts receivable and inventory.
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