- Morgan Lewis Strengthens Aviation Finance Capabilities with Addition of Mehtap Cevher Conti in New York
- Asset-Based Lending & Factoring Surveys
- SouthStar Capital Provides $2 Million Accounts Receivable Financing Facility to Industrial Services Company
- First Bank Headquartered in Hamilton, NJ Announces New Client Relationship
- Mitsubishi HC Capital Canada Closes US$62.5 Million Through Private Credit Platform to Accelerate Growth for Four Canadian Businesses
TSL Express Daily Articles & News
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Today's Top Story
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Pathway Homes Secures $225M Credit Facility
Pathway Homes ("Pathway"), a real estate platform with a mission to create more homeowners, announced today that it has entered into a secured credit facility in the aggregate amount of $225 million, with Bank of America, acting as Administrative Agent and Sole Lead Arranger. This is Pathway's inaugural credit facility and includes an accordion feature that permits an increase in total commitments up to $475 million under certain conditions.
TSL Express Trending Story
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Two months ago we discussed the questions that lenders should be asking their borrowers as borrowers were beginning to finalize their June 30, 2020 results and report the initial impact of the Covid shutdown and the CARES Act program funds. With the end of August around the corner, the second quarter results and even July 2020 results are available.
It is time to consider updating and expanding discussions with borrowers looking toward the remainder of 2020.
The outline of questions is a guideline to facilitate a discussion focused on the thought processes the business is going through and the financial impact over the past few months and into the future. Open ended questions that encourage a discussion are the most important tools lenders can use to understand their borrowers and the impact of the Covid-19 situation.
TSL Express Daily Headlines & News
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Martin Midstream Partners Announces Amendment To Revolving Credit Facility
January 30, 2023Martin Midstream Partners L.P. (NASDAQ:MMLP) (“MMLP”) announced today that its wholly owned subsidiary, Martin Operating Partnership L.P., as borrower, MMLP and certain of MMLP’s other subsidiaries, as guarantors, entered into an amendment to MMLP’s existing revolving credit facility (as so amended, the “Amended Credit Facility”).
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Siena Healthcare Finance Hires NYC-Based Business Development Officer
January 30, 2023Siena Healthcare Finance is pleased to announce the addition of Brendan Tully as NYC-based business development officer. Located in New York City, Brendan spent three years as a field examiner for PNC Business Credit before joining Chesapeake Corporate Advisors then B.C. Ziegler & Company as an investment banking analyst focused on mergers and acquisitions.
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Crown Partners Arranges $16 Million Financing for Arsenal Funding
January 30, 2023Crown Partners LP announced that Arsenal Funding, a merchant cash advance funder headquartered in West Palm Beach, FL, has closed on $16 million of bank financing to continue growing its funding portfolio. Since 2021, Crown Partners has served as exclusive financial advisor to Arsenal. During this time, Crown has facilitated Arsenal’s capital objectives, including arranging financing from two commercial banks, and establishing a strategic forward flow funding relationship with a private credit fund.
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New Chubb and National Center for the Middle Market Survey Finds Middle Market Economic Confidence Rebounds from 2022 Mid-Year, but Still Trailing 2021 Historical Averages
January 30, 2023New data released from Chubb and the National Center for the Middle Market (NCMM), reveals a rebound in middle market economic confidence from mid-year 2022, but confidence has yet to return to the historical levels experienced in 2021. More than half of middle market companies expressed a notable optimism about the potential for 2023 revenue growth.
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Harris Williams Advises Prima Solutions on its Sale to Total Specific Solutions
January 30, 2023-Harris Williams, a global investment bank specializing in M&A advisory services, announces it advised Prima Solutions on its sale to Total Specific Solutions (TSS), a subsidiary of Topicus.com (TSXV:TOI; Topicus) and part of Constellation Software Inc. (TSX:CSU; Constellation). Prima Solutions is a leading European insurtech company that helps insurance professionals transform existing legacy systems and streamline core business processes, thereby speeding up their digital transformation.
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KBRA Assigns Preliminary Ratings to Monroe Capital ABS Funding II, LP
January 30, 2023KBRA assigns preliminary ratings to five classes of debt issued by Monroe Capital ABS Funding II, LP (MCAF II), a securitization backed by a portfolio of recurring revenue and middle market corporate loans. MCAF II is an approximate $378.4 million securitization managed by Monroe Capital Management Advisors, LLC (“Monroe” or the “Collateral Manager”), an affiliate of Monroe Capital LLC.
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Loomis Signs a Three-year Credit Facility of EUR 150 Million
January 30, 2023Loomis AB has signed an agreement for a syndicated, revolving credit facility of EUR 150 million. The facility has a tenor of three years with two extension options of one year each. The lead arrangers are Bank of America, Danske Bank, NatWest, Nordea Bank and Société Générale.
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Permira to Acquire Acuity Knowledge Partners From Equistone
January 30, 2023Acuity Knowledge Partners (“Acuity”), a leading provider of high-value research, analytics and business intelligence to the financial services sector, today announces that funds advised by Permira, the global private equity firm, have acquired a majority stake in the business from Equistone Partners Europe (“Equistone”), one of Europe’s leading mid-market private equity investors. Equistone will reinvest in Acuity as a minority shareholder.
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Atlantic Union Bank Names New Chief Information Officer
January 30, 2023Atlantic Union Bank has named Matt Linderman as its new Chief Information Officer. Linderman, 48, will be responsible for providing leadership, planning and management for all areas of technology and digital strategy, development and implementation.
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J D Factors Announces Factoring Facilities
January 30, 2023J D Factors announced it has provided the following factoring facilities: $100,000 to a transportation company in California; $400,000 to a transportation company in Quebec; $250,000 to a transportation company in New Jersey; $500,000 to a transportation company in Pennsylvania...
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Bibby Financial Services Appoints Martin King to Head-up Corporate Sales and Partnership Strategy
January 30, 2023The UK’s largest independent invoice finance provider, Bibby Financial Services (“BFS”) has appointed Martin King as Head of Corporate Sales, Strategy and Partnerships as it continues to grow its support for SMEs and advisors throughout the UK. With over twelve years’ experience in providing asset based lending and cashflow solutions, Martin joins BFS from BOOST&Co, where he developed growth and venture debt funding for SMEs. Prior to this, he held senior ABL roles with Lloyds Bank and NatWest Group.
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TCC Financial Closes U$30.8 Million Senior Secured Term Loan To Support Heavy Equipment Rental Company's Growth Needs
January 30, 2023TCC Financial, Inc. (TCC), the US lending division of Travelers Capital Corp., a Canadian asset-based lender, is pleased to announce the successful closing of a US $30.8 million senior secured term loan facility to support the growth and development needs of a leading heavy equipment rental business headquartered in California.
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Dwight Capital & Dwight Mortgage Trust Close Over $191MM in Seniors & Healthcare Financing During Q4 2022
January 30, 2023Dwight Capital and its affiliate REIT, Dwight Mortgage Trust, financed over $191MM in seniors and healthcare financing during Q4 2022. Featured among the transactions are bridge loans for a Skilled Nursing Facility (“SNF”) Portfolio in Florida and a SNF Portfolio in Georgia.
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Abacus Finance Provides Senior Debt Financing to Support the Growth Recapitalization of Mobility Market Intelligence by WestView Capital Partners
January 30, 2023Abacus Finance Group, LLC – a leading provider of cash flow-based, classic senior debt for sponsor-led buyouts of lower middle-market companies – today announced that it served as Senior Secured Credit Facilities Administrative Agent and Lead Arranger for senior secured credit facilities to support the growth recapitalization of Mobility Market Intelligence (“MMI”) by WestView Capital Partners. Additionally, Abacus made an equity co-investment in MMI.
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Tesla Gets $5 Billion Credit Line in Sign It’s Nearing Investment-Grade Status
January 30, 2023Tesla Inc. has secured a new $5 billion revolving credit facility, another sign that the company is nearing investment-grade status. The electric-vehicle maker may increase the facility by up to $2 billion, according to a filing. Citigroup Inc. is the administrative agent for the revolver, which has a five-year maturity.
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John Marshall Bank Hires Tamoor Ijaz as New Market Leader - Vice President, Commercial Lender
January 30, 2023John Marshall Bank (“JMB” or the “Bank”), subsidiary of John Marshall Bancorp, Inc. (the “Company”) (Nasdaq: JMSB), is proud to announce the recent hire of Tamoor Ijaz as Vice President, Commercial Lender in the Arlington Region. In his position, Mr. Ijaz will use his near 10 years of commercial lending experience to focus on Commercial and Industrial loans as well as fostering new deposit business development opportunities.
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Audax Strategic Capital Builds Out Team and Platform
January 30, 2023Audax Strategic Capital (ASC), a provider of mid-hold capital solutions that enable private equity sponsors to continue investing in expanding middle market companies, today announced recent additions to its growing team that reflect ongoing momentum since the launch of ASC in December.
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Bed Bath & Beyond Gets Loan Default Notice From JPMorgan - Filing
January 30, 2023Bed Bath & Beyond Inc (BBBY.O) said on Thursday it had received a notice of default on its loan from JPMorgan Chase Bank N.A., triggering a 22% slump in its shares. The company said in a regulatory filing it does not have sufficient resources to repay the amounts under the credit facilities, adding it will consider all strategic alternatives, including restructuring its debt under the U.S. Bankruptcy Code.
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Commercial Lending Startup Foro Emerges From Stealth Mode to Democratize Access to Capital For Mid-Size Businesses
January 30, 2023Foro, a Charlotte-based fintech startup, today emerged from stealth mode with the national launch of its digital commercial lending platform. Foro’s platform guides business owners through the complex commercial lending process and introduces them to financial institutions that fit their capital needs, while providing those same financial institutions with verified, high-quality leads that meet their lending strategies and goals.
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Gerald Group Successfully Closes Thirteenth Revolving Credit Facility of US$180 Million
January 30, 2023Gerald Group ("Gerald / the Group"), the world's largest independent and employee-owned metals trading house is pleased to announce the successful closure of its new annual syndicated Revolving Credit Facility ("RCF") for US$180 million. The RCF was oversubscribed and was upsized from its initial launch at US$125 million. The one-year committed, unsecured RCF will be used by Gerald for refinancing the maturing US$140 million facility and for general corporate purposes.
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