- First Business Bank Funds $1 Million Factoring Facility For Transportation Company Growth
- Benefit Street Partners Closes Milestone CLO 50 With $500 Million
- Perkins Joins CohnReznick as Partner and Leader of New Sage Intacct Advisory Practice
- Georgia Banking Company, Inc. Completes $77.7 Million Private Placement
- SFNet New Member Spotlight: PIRS Capital, LLC
TSL Express Daily Articles & News
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CohnReznick Hires Two Senior Leaders for Expanding Value360 Practice
CohnReznick LLP, one of the leading advisory, assurance, and tax firms in the United States, today announced that Virginia Schnippel, Principal, Valuation Advisory Services, and Aaron Kolko, Managing Director, Transaction Advisory Services, have joined the firm’s rapidly expanding Value360 practice. Value360 offers a full spectrum of advisory services to businesses at key points throughout their life cycle.
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Pandemic Bankruptcy Activity Highest in Ten Years
It is no surprise that many businesses, large and small, experienced significant financial difficulties due to the pandemic in 2020. But despite the massive and unprecedented aid from federal and state government to try and keep businesses afloat, businesses are seeking bankruptcy protection at a rate not seen since the end of the Great Recession. As seen in the latest Polsinelli-TrBK Distress Indices Report for the fourth quarter of 2020, the last three quarters of 2020 showed Chapter 11 filings occurring at the highest rate since 2011.
TSL Express Daily Headlines & News
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SVB Financial Group Enters into Definitive Purchase Agreement to Sell SVB Securities to Management Team Group Led by Jeff Leerink and Backed by The Baupost Group
June 21, 2023SVB Financial Group (Pink Sheets: SIVBQ) today announced that it has entered into a definitive purchase agreement with the management team bidder group led by Jeff Leerink, SVB Securities' Chief Executive Officer and Founder, and backed by funds managed by The Baupost Group L.L.C., for the sale of its investment banking business, SVB Securities. A hearing to seek required court approval is scheduled for June 29, 2023, and the transaction is expected to close shortly thereafter.
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Carlyle Names John Redett as Chief Financial Officer and Head of Corporate Strategy
June 21, 2023Global investment firm Carlyle (NASDAQ: CG) today announced that John Redett will become the firm’s Chief Financial Officer and Head of Corporate Strategy, effective October 1, 2023. Redett succeeds Curt Buser, Chief Financial Officer at Carlyle since 2014, who has decided to retire from the firm effective at the end of the year. Buser will step down as Chief Financial Officer effective September 30, 2023 and will become a Senior Advisor,
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ENGlobal pays off Pacific Western credit facility
June 20, 2023ENGlobal (NASDAQ:ENG) has repaid its credit facility with Pacific Western Business Finance in full and entered into a new credit agreement with Alliance 2000, the family limited partnership of ENGlobal executive chairman William A. Coskey, P.E.
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Ninepoint Partners and Third Eye Capital announce Pieridae Energy’s successful refinancing and early repayment of term loan
June 20, 2023Ninepoint Partners LP (“Ninepoint”), one of Canada’s leading alternative investment managers, and Third Eye Capital Corporation (“TEC” or “Third Eye Capital”), whose affiliate, Third Eye Capital Management Inc., is sub-advisor of the Ninepoint-TEC Private Credit Fund and the Ninepoint-TEC Private Credit Fund II (“the Funds”), today announced that Pieridae Energy Limited (“Pieridae”)
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First Citizens Bank Acquires $123 Million Maritime Portfolio for Greece Vessels
June 20, 2023division, has successfully completed the acquisition of $123 million of Greek shipping loans, sharply increasing the bank’s maritime financings for clients in Greece.
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White Oak ABL and White Oak Commercial Finance Provide $40 Million Credit Facility to Invacare, a Leading Provider of Medical Equipment
June 20, 2023White Oak ABL, LLC and White Oak Commercial Finance, LLC, the asset-based lending affiliates of White Oak Global Advisors, LLC, (collectively, “White Oak”) provided a $40 million North America ABL credit facility (the “ABL Facility”) to Invacare Holdings Corporation (“Invacare” or the “Company”)
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Bell Business Credit Provides $2,000,000 Asset-Based Credit Facility to Fulfillment/Logistics Firm
June 20, 2023Bell Bank, through its Bell Business Credit asset-based lending business channel, provided a $2,000,000 credit facility to a Kentucky-based promotional fulfillment and logistics firm specializing in digital marketing campaigns for Fortune 500 entities.
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Quarterhill Announces Update to Credit Agreement
June 20, 2023Quarterhill Inc. ("Quarterhill" or the "Company") (TSX: QTRH) (OTCQX: QTRHF), a leading provider of tolling and enforcement solutions in the Intelligent Transportation System ("ITS") industry, announces that it has reached an agreement in principle with its existing syndicate of bank lenders led by HSBC Bank Canada
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Altus Power, Inc. Secures Capital to Finance Additional 35 Megawatts of Operating Assets
June 20, 2023Altus Power, Inc. (“Altus Power” or the “Company”) (NYSE: AMPS), the premier independent developer, owner and operator of commercial-scale solar facilities, today announced that it has secured an incremental $47 million in capital from Blackstone.
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Sensys Gatso Group has signed a new MSEK 100 facility agreement with Rabobank Netherlands for financing US Growth plan
June 20, 2023Sensys Gatso Group, a global leader in traffic safety solutions, has signed a new facility agreement with Rabobank Netherlands for financing the US Growth plan.
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Alignment Credit Provides Senior Secured Term Loan Commitment to Total Primary Care
June 20, 2023Alignment Credit, a leading provider of strategic credit solutions for growth and lower middle-market companies, acted as the sole lead arranger and administrative agent for a senior secured term loan commitment to Total MD, LLC (“Total Primary Care”) to refinance previous debt facilities and provide capital for continuing expansion.
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Stellus Capital Management, LLC Provides Unitranche Financing in Support of Recognize Partners’ Investment in 2X LLC
June 16, 2023Stellus Capital Management, LLC (“Stellus”) announced today that its affiliates acted as administrative agents and provided senior debt financing and an equity co-investment in support of Recognize Partners’ (“Recognize”) investment in 2X LLC (“2X” or the “Company”), an outsourced digital business-to-business (“B2B”) marketing-as-a-service (“MaaS”) provider.
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Norton Rose Fulbright Adds to Finance Group in Dallas
June 16, 2023Global law firm Norton Rose Fulbright announced today that corporate finance lawyer Kimberly Perdue has joined its Dallas office as a partner.
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SKF Signs EUR 800 Million Multicurrency Revolving Credit Facility
June 16, 2023The facility is supported by a group of ten leading global and regional banks. Bank of America and SEB acted as joint Co-ordinating Mandated Lead Arrangers and Bookrunners in the process. In addition, Bank of China, BNP Paribas, Citibank, Deutsche Bank, Handelsbanken, HSBC, J.P. Morgan, and Nordea, joined the facility as Mandated Lead Arrangers and Bookrunners.
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First Bank Named a Best Employer in NC
June 16, 2023First Bank has ranked #1 as a BEST Employer in the Extra Large (330+) Employer category in Business NC Magazine. The nod, announced in the June issue, features 50+ employers (categorized by number of employees) in the state who were selected for the designation out of hundreds of nominations.
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Huntington Business Credit Closes a $35 Million new Credit Facility With SupplyCore Inc. on May 19, 2023
June 16, 2023Huntington Business Credit announced it closed a $35,000,000 new credit facility with SupplyCore Inc. on May 19, 2023. Proceeds of the facility were used to refinance existing debt and provide ongoing working capital financing.
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Clifford Chance names Ness Cohen as New York Office Managing Partner
June 16, 2023Cohen joined the firm in 1998 and was promoted to partner in 2007. He is Regional Practice Area Leader of the Americas Real Estate practice and Chair of the Americas Personnel Committee. His practice focuses on real estate private equity and joint ventures as well as acquisitions, dispositions and financings involving real estate.
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CIBC Innovation Banking Leads $60 Million Syndicated Debt Financing Solution for Bloomerang, LLC
June 16, 2023CIBC Innovation Banking is pleased to announce the lead arrangement of a $60 million syndicated debt financing commitment for Indianapolis-based Bloomerang, LLC (Bloomerang), a complete donor relationship management solution for thousands of small and medium-sized nonprofits.
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NMEF Wins Prestigious GlobalCapital US Securitization Award for ABS Deal of the Year for 2022 for its NMEF 2022-A Equipment Loan Securitization
June 16, 2023NMEF, a leading independent commercial equipment lender located in Norwalk, Connecticut, announced that the company won the prestigious GlobalCapital US Securitization Award for ABS Deal of the Year for 2022 for its NMEF 2022-A equipment loan securitization. The company accepted its award at a gala industry dinner in New York City at the Metropolitan Club.
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First Business Bank’s Asset-Based Lending Group Funds $7 Million Credit Facility
June 16, 2023Mike Colloton, Vice President – Asset-Based Lending at First Business Specialty Finance, LLC, a subsidiary of First Business Bank, announces a recently closed and funded $7 million revolving line of credit, equipment term loan, and real estate term loan for a tempered glass product manufacturer in Tennessee.
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