- In Memoriam: Michael Sacco
- Rosenthal Capital Group Closes Three Transactions Across ABL Equipment Finance And Recourse Factoring Divisions, Totaling $20 Million
- Citizens Financial Group Names Chris Emerson Head of Investor Relations
- Silver Point Leads $500 Million Term Loan Financing Supporting Acquisition of KUBRA by REPAY
- Market Sizing & Impact Study 2023
TSL Express Daily Articles & News
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Citizens Leads $98.7 Million Loan to Houston-based Hanover Company
Citizens announced today that its Commercial Real Estate Finance team led a $98.7 million loan to Houston-based Hanover Company for the construction of a six-story, 309-unit multi-family project in Laguna Niguel, Calif. Citizens is Joint Lead Arranger and Administrative Agent.
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Credit cycles typically bring about two correlated occurrences – consolidation and credit voids. This last cycle has been no different as several market segments experienced consolidation, which has created unique and unrelated voids in both small-ticket ABL and the asset-backed term space. New firms are emerging to fill the voids as we are about to enter a new cycle of competition and innovation.
TSL Express Daily Headlines & News
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Pemberton Strengthens Leadership Team With Appointment of Harriet Steel
May 10, 2023Pemberton, one of the leading alternative credit managers, today announces the appointment of Harriet Steel. She joins the firm as Partner and Head of Global Clients.
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Alvarez & Marsal Expands its Business in The Portuguese Market, Opening an Office in Lisbon
May 10, 2023The Portuguese team will be led by Managing Director Mário Trinca, bringing 30 years of management and technology consulting experience in banking and insurance across three continents, leading a variety of projects that combine extensive end-to-end knowledge of business processes with technological enablers.
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Stellus Provides Unitranche Financing in Support of Bishop Lifting Products’ Add-On Acquisition of General Work Products
May 10, 2023Stellus Capital Management, LLC (announced today that its affiliates provided senior debt financing and an equity co-investment in support of Bishop Lifting Products, Inc. (“BLP” or the “Company”), a portfolio company of Altamont Capital Partners.
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TAB Bank Provides Commercial Geoscience Company in Alaska with a $2 Million Asset-Based Credit Facility
May 10, 2023TAB Bank is pleased to announce it has provided a geoscience company in Alaska with a $2 million asset-based credit facility. The new facility is extended through a multi-year agreement and will provide for the company’s ongoing working capital needs.
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Alleon Healthcare Capital Provides a $1 Million Medical Accounts Receivable Factoring Facility to a Pennsylvania Durable Medical Equipment Healthcare Provider
May 10, 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 $1,000,000 medical accounts receivable factoring facility with a Durable Medical Equipment company in Pennsylvania (“Company”).
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Judges Announced for CohnReznick’s Gamechangers in ESG Awards Program
May 10, 2023CohnReznick LLP, one of the leading advisory, assurance, and tax firms in the United States and a leader in industries driving ESG and sustainability for decades, is announcing the opening of its second annual Gamechangers in ESG Awards program.
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Tide Rock Secures $100 Million Line of Credit for Working Capital and Expansion
May 10, 2023Tide Rock, a growth-oriented holding company of diverse, economically resilient B2B businesses, today announced that its investment vehicle, Tide Rock YieldCo, LLC, has secured a $100 million syndicated revolving loan facility from California Bank & Trust (CB&T), a division of Zions Bancorporation, CIBC Bank USA, and Manufacturers Bank.
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Kolibri Global Energy Inc. Announces Bank Line Increase to US$40 Million
May 10, 2023Kolibri Global Energy Inc. is pleased to announce that its indirect wholly owned subsidiary BNK Petroleum (US) Inc. has obtained an increase in its Borrowing Base from US$25 million to US$40 million on its revolving line of credit from BOK Financial.
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Armory Securities, LLC Announces the Sale of National Railway Equipment Co.
May 10, 2023Armory Securities, LLC is pleased to announce the sale of National Railway Equipment Co. The transaction closed on May 2, 2023. Armory served as the exclusive financial advisor to the company for the transaction.
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MPOWER Financing Closes a $150 million Financing Facility with Goldman Sachs to Support International Students' Education
May 10, 2023MPOWER Financing, a mission-driven fintech firm and a leading provider of non-cosigned loans to promising students from around the world, announced that it recently closed a $150 million revolving asset-backed warehouse facility with Goldman Sachs.
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Senior Loan Officer Opinion Survey on Bank Lending Practices
May 10, 2023The April 2023 Senior Loan Officer Opinion Survey on Bank Lending Practices (SLOOS) addressed changes in the standards and terms on, and demand for, bank loans to businesses and households over the past three months, which generally correspond to the first quarter of 2023
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Tellus Equipment Solutions Announces Completion of $115 Million Credit Facility
May 10, 2023Tellus Equipment Solutions ("Tellus"), a leading John Deere Agricultural and Turf dealer with 24 locations across South and Central Texas, announced that it has closed a new $115 million credit facility (the "Credit Facility").
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Baker Botts Represents Par Pacific Holdings, Inc. in $600 Million Asset-Based Revolving Credit Facility
May 10, 2023Wells Fargo Bank, National Association, Bank of America, N.A., Goldman Sachs Bank USA, MUFG Bank, LTD, and Fifth Third Bank acted as joint lead arrangers and joint bookrunners for the ABL Facility (the “Lead Arrangers”). Wells Fargo Bank, National Association serves as administrative agent under the ABL Facility (the “Administrative Agent”).
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Hundreds of Bed Bath & Beyond and buybuy BABY Leases Available at Auction Pending Court Approval
May 10, 2023A&G Real Estate Partners (A&G), in its capacity as real estate advisor to Bed Bath & Beyond Inc. (“the Company”) plans to auction hundreds of Bed Bath & Beyond and buybuy BABY leases as part of the Company’s Chapter 11 cases, subject to Court approval of bid procedures.
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MidCap Business Credit Closes on an $6.5 Million Asset-based Credit Facility Licensed Pharmaceutical Products Distributor
May 10, 2023MidCap Business Credit announced today they have closed on an $6,500,000 asset-based credit facility to a New England-based distributor of licensed pharmaceutical products. The new relationship and was sourced and closed out MidCap’s headquarters in West Hartford, CT.
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Blue Ridge Bankshares, Inc. Announces Appointment of G. William ("Billy") Beale as Chief Executive Officer of Blue Ridge Bank, N.A.
May 10, 2023Blue Ridge Bankshares, Inc. (NYSE American: BRBS) (the "Company"), the holding company of Blue Ridge Bank, N.A. (the "Bank") and BRB Financial Group, Inc., today announced that G. William ("Billy") Beale has been appointed as Chief Executive Officer of the Bank, effective as of May 7, 2023.
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Wells Fargo Announces Jeff Hogan Joins the Corporate & Investment Bank as Co-head of Global Mergers & Acquisitions
May 10, 2023He will co lead the M&A team with David DeNunzio, who has led the business since he joined Wells Fargo in late 2016. Both report to Tim O’Hara, head of Banking. Jeff joins Wells Fargo from Morgan Stanley where he most recently was co head of Global Technology Mergers & Acquisitions.
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Alterna Capital Solutions Adds $65 Million to LOC During Firm’s Record Quarter
May 10, 2023Fueled by the firm’s total commitments exceeding $100 Million in Q1 of 2023, financial position strengthens as Wells Fargo and Truist Financial welcome Bank of America to participate in the line of credit.
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FGI Grows Business Development Team with Addition of Kasey Fagan (Krum)
May 10, 2023Based out of the Chicago office, Ms. Fagan is responsible for originating new business opportunities for FGI’s asset-based lending business by cultivating relationships throughout the Midwest marketplace.
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Wintrust Business Credit Expands Team
May 10, 2023Wintrust Business Credit (WBC), a subsidiary of Wintrust (NASDAQ: WTFC), today announced the addition of Benjamin Doran as Senior Vice President- Business Development, expanding WBC's footprint into the upper Midwest as part of the group's expansion into new strategic markets.
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