- Market Sizing & Impact Study 2023
- First Business Bank Promotes Kevin McGraw To Vice President - Asset-Based Lending
- Gateway Completes a Record 39 Stretch Deals in 45 Days Totaling $15 Million
- Eagle Point Holds Final Close on its Defensive Income Fund III, Exceeding its Original Hard Cap
- Market Sizing Study
TSL Express Daily Articles & News
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Winston & Strawn Corporate Partners Elevated to Leadership Positions
Winston & Strawn is pleased to announce that five partners have been elevated to leadership positions. Four partners have been promoted to serve as co-chairs of the Leveraged Finance and Asset-Based Lending practices, and one partner as chair of the Sponsor Finance practice.
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Andy McGhee is vice chairman of White Oak Commercial Finance (White Oak), an affiliate of White Oak Global Advisors, LLC, and leads the firm’s lender finance business. He has over 30 years of experience in the lending business, most recently managing a multi-billion-dollar loan portfolio as the CEO of AloStar Capital Finance. In 2011, McGhee co-founded AloStar Capital Finance by acquiring a failed bank in Birmingham, AL.
At the time of its sale in 2017, AloStar had committed more than $3 billion to middle-market companies. McGhee has also served in various leadership roles covering asset-based lending (ABL) at SunTrust, Citicorp, Bank South and Bank of America. McGhee sits on the board of directors for Piedmont Hospital in Atlanta and is an Elder at Peachtree Presbyterian Church. He holds a B.A. in economics from the University of Georgia.
TSL Express Daily Headlines & News
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David’s Bridal Files for Bankruptcy
April 17, 2023David’s Bridal has filed for Chapter 11 bankruptcy, according to the Wall Street Journal. This comes just days after David’s Bridal, one of the largest sellers of wedding gowns in the United States, planned to cut at least 9,000 positions across the United States.
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StratCap Acquires Over $35 Million In Digital Infrastructure Assets
April 17, 2023StratCap (“StratCap” or “the Company”) announced today that its wireless infrastructure division (“StratCap Wireless”) has completed the acquisition of more than $35 million in data centers and cell towers.
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Madison Realty Capital Originates $44 Million Transitional Loan for Lease-Up of Luxury Apartment Complex in Summerville, South Carolina
April 17, 2023Madison Realty Capital, a vertically integrated real estate private equity firm focused on debt and equity investment strategies, today announced that the firm has provided a $44 million loan to McKee Homes, a Raleigh, North Carolina-based home builder and developer, and the Huff Family Offices, for The Palms at Edgewater, a 288-unit multifamily apartment complex in Summerville, South Carolina.
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Getzler Henrich & Associates Expands its Automotive Industry Practice with the Addition of Jonathan Vukanovich as Director
April 17, 2023Jonathan Vukanovich, CPA, has been named a Director of the Automotive Industry Practice of Getzler Henrich & Associates LLC (getzlerhenrich.com), one of the nation's oldest and most respected middle-market corporate restructurings and operations improvement firms.
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Saul Van Beurden Named CEO of Consumer & Small Business Banking for Wells Fargo; Mary Mack to Retire; Tracy Kerrins Named Head of Technology
April 17, 2023Wells Fargo & Company (NYSE: WFC) today announced that Mary Mack will retire from the company this summer and Saul Van Beurden, head of Technology at Wells Fargo, will succeed Mack as CEO of Consumer & Small Business Banking (CSBB), effective May 1
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NXT Capital Closes Senior Credit Facility in Support of Audax Private Equity’s Acquisition of Krayden
April 17, 2023NXT Capital announced today that it closed a senior credit facility in support of Audax Private Equity’s acquisition of Krayden. NXT Capital acted as the Administrative Agent, Joint Lead Arranger and Joint Bookrunner on this transaction.
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Koppers Announces Closing of $400 Million Term Loan B; Redeems 6.00% Senior Unsecured Notes due 2025
April 17, 2023Wells Fargo Bank, National Association is acting as administrative agent for the TLB. Wells Fargo Securities LLC, PNC Capital Markets LLC, BofA Securities, Inc., Fifth Third Bank, National Association, Citizens Bank, N.A. and Truist Securities, Inc. are acting as joint lead arrangers and bookrunners for the TLB.
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Phoenix Lending Survey Results Reveals Consumer Spending is Expected to Dramatically Slow Down
April 13, 2023rom the fourth quarter Phoenix Management “Lending Climate in America” survey results reveals the imminent threat of a slow-down in consumer spending. With extra tax credits and pandemic-related stimulus payments halted, the IRS has warned Americans to brace for smaller refunds from 2022 tax filings.
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HALO Concludes First Deal with Announcement of a Credit Facility for Republic Airways to Finance a Portfolio of CF34 Engines
April 13, 2023HALO AirFinance ("HALO"), a joint venture between GA Telesis ("GAT") and Tokyo Century Corporation ("TC"), closed a credit facility for Republic Airways, a market-leading US regional airline, to finance a portfolio of General Electric CF34-8E engines. This is the inaugural transaction executed under HALO's first fund HALO One, which was launched last month in partnership with InterVest Capital Partners.
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1st Security Bank Announces Chief Lending Officer Succession Plan
April 13, 20231st Security Bank of Washington has named Ben Crowl to succeed Dennis O’Leary as Chief Lending Officer (“CLO”), effective July 1, 2023. Crowl currently serves as Senior Vice President, Director of Consumer Lending. He previously served the Bank as Senior Vice President, Commercial Lending Team Lead.
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Transportation Sector Lender Mitsubishi HC Capital America now $7.5B Commercial Finance Provider Through Company Integration
April 13, 2023Mitsubishi HC Capital America – and its subsidiary, Mitsubishi HC Capital Canada – along with Mitsubishi HC Capital (U.S.A.) and ENGS Commercial Finance merged to create the largest non-bank, non-captive finance provider throughout North America with more than $7.5 billion in owned and managed assets on April 1.
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Matrix Announces the Successful Sale Of Li’l Thrift Food Marts, Inc.
April 13, 2023Matrix Capital Markets Group, Inc. (“Matrix”), a leading, independent investment bank, announces that it has advised Fayetteville, NC-based Li’l Thrift Food Marts, Inc. and its affiliates d/b/a Short Stop (“Li’l Thrift” or the “Company”) on the sale of the Company’s 43 company-operated petroleum marketing and convenience retail stores to an affiliate of Petroleum Marketing Group, Inc.
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U.S. Middle Market Growth Continues to Exceed Expectations
April 13, 2023Middle market private companies in the Golub Capital Altman Index experienced year-over-year earnings growth of 11% and revenue growth of 11% during the first two months of the first quarter of 2023.
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Cineworld Files Reorganization Plan With U.S. Bankruptcy Court
April 13, 2023Further to its April 3 announcement that it had reached a conditional agreement with lenders to emerge from Chapter 11, Regal owner Cineworld today submitted its reorganization plan to the U.S. Bankruptcy Court for the Southern District of Texas.
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U.S. Bank Announces Key Leadership Team Changes
April 13, 2023U.S. Bank announced several changes to its executive leadership team today to succeed two leaders who are leaving the company this summer.
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Thompson Coburn LLP Announces Diona Rogers Named 2023 Secured Finance Network 40 Under 40 Award Winner
April 13, 2023Thompson Coburn is thrilled to announce that Chicago partner Diona Rogers has been named a winner of the 2023 SFNet 40 Under 40 Awards. The SFNet 40 Under 40 Awards launched in 2016 to celebrate the achievements of young professionals in the secured finance industry. Recipients of the honor are recognized as the "future leaders who exemplify true excellence in their careers and demonstrate commitment to their communities as well as to the industry."
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Blank Rome Announces Mirlande Telfort Named a 40 Under 40 2023 Award Recipient by Secured Finance Network
April 13, 2023Blank Rome partner Mirlande Telfort was named a 40 Under 40 2023 award recipient by the Secured Finance Network ("SFNet"). In receiving this award, Mirlande joins fellow Blank Rome attorneys Jillian Zvolensky, Samir Ahuja, Shadi Enos Jahangir, Heather Sonnenberg, and Kevin O’Malley, who are all past 40 Under 40 honorees and were recognized as the “future of the secured finance community.”
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Online Auction Features Live Event and Entertainment Production Rental Gear from North American Leader PRG
April 13, 2023On April 18 Tiger Group will conduct an online auction offering a wide array of professional entertainment production gear from the rental inventories of North American leader PRG. The sale includes more than 600 lots of digital cameras, lenses, audio, speakers, LED walls, projectors, monitors and gear accessories.
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Monroe Capital Supports Alpine Investors’ Acquisition of Medusind
April 13, 2023Monroe Capital LLC announced it acted as administrative agent and joint lead arranger on the funding of a senior credit facility to support the acquisition of Medusind by private equity sponsor Alpine Investors.
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Citizens Financial Group Announces Risk Organization Succession Plan
April 13, 2023Citizens Financial Group, Inc. (NYSE: CFG) today announced that Richard Stein will assume the role of Chief Risk Officer upon the retirement of Malcolm Griggs in the first quarter of 2024. Upon assuming the CRO role, Mr. Stein will report to Bruce Van Saun, Chairman and CEO, and serve on the bank’s Executive Committee.
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