- Sound Point Capital Leads $575 Million Financing to Support Greenbelt Capital Partners’ Acquisition of Peak Utility Services Group
- Trinity Capital Receives SBIC License from US SBA
- MONTICELLOAM, LLC Finances $144MM For Six Washington Skilled Nursing Facilities
- Market Sizing & Impact Study 2023
- Encina Private Credit Provides a $30 Million First Out Commitment to a Manufacturing Company Backed by a Sponsor in a Minority Equity Position
TSL Express Daily Articles & News
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CIBC Welcomes Experienced Business Development Officer to its Asset-based Lending Team
CIBC today announced Ramsey Naber, managing director and business development officer, has joined its Asset-based Lending team in the Western Region.
In his role, Naber will be responsible for new deal originations and relationship development in the Western Region. Prior to joining the Bank, Naber served as Asset Based Finance Group Manager at East West Bank in Pasadena, California.
TSL Express Trending Story
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The events of 2020 have given commercial lenders the enormous opportunity of being the catalyst for helping to create greater economic stability. With the release of urgent stimulus programs, lenders must be nimble enough to make financing available to businesses that need it to keep their heads above water while they handle the COVID-19 effect on our economy. But at the same time, it is crucial for lenders to carefully mitigate risks and maintain strong lending practices to protect their organization so that they can continue to lend in a more uncertain world.
For astute lenders, it is possible to take steps to protect their business now and be poised for a bright future. To do this, what should lenders focus on to help them exceed expectations and achieve growth in a difficult time?
TSL Express Daily Headlines & News
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Armory Securities, LLC Announces that Yucatan Foods, LLC has Been Sold to Flagship Food Group and CREO Capital Partners
March 1, 2023Armory Securities, LLC is pleased to announce that Yucatan Foods, LLC has been sold to Flagship Food Group and CREO Capital Partners. The transaction closed on February 7, 2023. Armory served as exclusive M&A advisor for the transaction. Yucatan Foods, LLC (a subsidiary of Curation Foods and Lifecore Biomedical) markets pre-made fresh guacamole products under the Yucatan® and Cabo Fresh® brands which are among the largest retail brands in the category.
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Axiom Commercial Finance Welcomes Kurt Tegge as Senior Underwriter for Asset Based Lending
March 1, 2023Dallas-based Axiom Commercial Finance is proud to announce the addition of Kurt Tegge to its team as Senior Underwriter for Asset Based Lending. Kurt brings over two decades of experience in underwriting asset-based loans and has an extensive background in credit risk analysis and portfolio management. He will be responsible for underwriting new loan opportunities.
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Rosenthal Closes Multiple Transactions Across Factoring, Asset-Based Lending and Purchase Order Financing Divisions
March 1, 2023Rosenthal & Rosenthal, Inc., the leading factoring, asset based lending, purchase order financing, d2c and e-commerce inventory financing firm in the United States, today announced the completion of three recent transactions in the apparel and outdoor sectors, including a $1 million factoring deal for an outdoor apparel company, a $5 million asset based loan for a growing apparel brand and a $1.5 million purchase order financing program for a luxury outdoor home goods company.
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J D Factors Announces New Factoring Facilities
March 1, 2023J D Factors provided $10,745,000 in new factoring facilities to over 30 new clients in the US and Canada during the month of February.
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Prestige Capital Extends a $10,000,000 AR Finance Facility for Southeast Call Center Committed to Maintaining a Human Touch
March 1, 2023A Southeast-based subsidiary of a European holding company was introduced to Prestige by one of its premier referral sources seeking a solution to expand its call center operations and repay some of its intracompany advances. Within two weeks of signing the proposal letter, Prestige underwrote and closed the deal, enabling the company to expand its call center operations in the US and obtain additional funds to smooth out its cash flow needs.
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United Capital Funding and KLC Financial Provide Equipment Finance and AR Facility to Commercial Printing Company
March 1, 2023United Capital Funding Group LLC, a Florida-based factoring firm with offices in Tennessee recently provided a $3 million accounts receivable facility to a Tennessee-based commercial printing company in partnership with KLC Financial, a Minnesota-based equipment finance firm, to issue an equipment loan. This was secured after the company was denied an increase in its SBA-guaranteed bank line of credit.
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Cambridge Savings Bank Extends $10 Million in Financing to American Gas Products to Support Rapid Growth
March 1, 2023Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and over $6 billion in assets, today announced that it has provided $10 million in financing to American Gas Products (AGP), a full-service national industrial and specialty gas supplier. The capital will help finance new equipment, leasehold improvements at AGP’s new headquarters, and refinance existing debt.
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Forever Starts With the First 125 Years: First Citizens Bank Celebrates Milestone Anniversary
March 1, 2023On March 1, First Citizens Bank celebrates its 125th year of delivering long-term value and excellent service to clients and strong results to shareholders. First Citizens is recognizing this significant service milestone with a celebration throughout the year highlighting core principles that have fostered success for the bank and its customers alike.
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Theratechnologies Announces Amendment to its Term Loan Facility With Affiliates of Marathon Asset Management
March 1, 2023Theratechnologies Inc. (“Theratechnologies”, the “Company”, or “we”) (TSX: TH) (NASDAQ: THTX), a biopharmaceutical company focused on the development and commercialization of innovative therapies, today announced that it has entered into a first amendment to its credit agreement dated July 20, 2022 (the “Credit Facility”) with certain funds and accounts for which Marathon Asset Management, L.P. acts as investment manager (collectively, “Marathon”).
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KKR Completes Acquisition of Hitachi Transport System
March 1, 2023Global investment firm KKR announced today that KKR has completed KKR’s acquisition of Hitachi Transport System Ltd. (“HTS” or the “Company”). KKR holds the shares of HTS through HTSK Co., Ltd. (“HTSK”), a special purpose entity which owns 100% of the shares with voting rights in HTS, and through HTSK Holdings Co., Ltd. (“HTSK Holdings”), a 100% parent and holding company of HTSK. KKR will work in strategic partnership with Hitachi Ltd. (“Hitachi”), which owns 10% of the shares with voting rights in HTSK Holdings and KKR owns the remaining 90% of the shares with voting rights.
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U.S. Bank to Offer CLO Clients Tailored Portfolio Optimization Capabilities for More Streamlined and Effective Trade Structuring
March 1, 2023U.S. Bank announced today that it has added portfolio optimization capabilities to its Pivot client platform, giving collateralized loan obligation (CLO) clients comprehensive insights for faster and more effective trading. Using a set of criteria selected by the client, Pivot Portfolio Optimization sorts through tens of thousands of potential portfolio combinations to identify a combination of investments that best advance the client’s stated objective – typically, maximizing the weighted average spread of the CLO.
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Getzler Henrich & Associates Names Robert Gorin Leader of Consumer Products Practice
March 1, 2023Robert Gorin has been named the Consumer Products Practice Leader of Getzler Henrich & Associates LLC (getzlerhenrich.com), one of the nation’s oldest and respected middle-market corporate restructurings and operations improvement firms. A Managing Director at Getzler Henrich since 2014, Mr. Gorin has more than 30 years of client-centric focus to business strategy and operations through his work in corporate turnarounds, process design and improvement, corporate mergers and acquisitions, and management consulting.
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Carnival Corporation & plc Announces Arrangement of New Forward Starting $2.1 Billion Revolving Credit Facility
March 1, 2023Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) (the "Company") today announced that it has successfully arranged a new forward starting $2.1 billion multi-currency revolving credit facility (the "New Revolver"). The New Revolver will replace Carnival Corporation's existing multi-currency revolving credit facility (the "Existing Revolver") upon its maturity in August 2024.
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NioCorp Expands Existing Non-Revolving Credit Facility to US$4 Million
February 28, 2023NioCorp Developments Ltd. ("NioCorp" or the "Company") (TSX: NB; OTCQX: NIOBF) is pleased to announce that it has expanded its existing non-revolving credit facility between the Company and its Executive Chairman, Mark Smith, to US$4 million from the previous limit of US$3.5 million.
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AmeriFactors Provides Funding to Companies Experiencing Rapid Growth
February 28, 2023AmeriFactors Financial Group, LLC. recently provided funding to one of their return clients for a new start-up company. The business owners came back to AmeriFactors for a third time to help fund their third successful business.
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Anthony Lavinio Joins Eclipse Business Capital, LLC’s Underwriting Team as a Managing Director
February 28, 2023Eclipse Business Capital, LLC (“EBC”) is pleased to announce that Anthony Lavinio has joined its underwriting team as a Managing Director. Mr. Lavinio is an asset-based lending professional with over 25 years of experience in underwriting, portfolio management, and new business originations at non-bank private debt funds.
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Celtic Capital Corporation Provides Financing for Specialty Chemicals Producer
February 28, 2023The company needed to replace an existing bank line so approached Celtic Capital for a $750,000 accounts receivable line of credit and a $150,000 inventory line of credit to replace the bank financing and provide working capital to help them effectuate their turnaround plan. Celtic Capital provided the requested financing and the company is off and running on their plan.
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ProFrac Holding Corp. Completes Acquisition of Performance Proppants and Upsize of ABL Credit Facility
February 28, 2023ProFrac Holding Corp. (NASDAQ: ACDC) ("ProFrac" or the "Company") announced today that it has successfully completed its acquisition of Performance Proppants, making it the largest in-basin proppant producer serving the Haynesville. ProFrac acquired Performance Proppants for approximately $475 million, consisting of $469 million in cash and the remainder in shares of ProFrac Class A common stock.
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CVC Credit Successfully Prices First new CLO of 2023
February 28, 2023CVC Credit is pleased to announce that it has priced Apidos XLIII (43), a Collateralized Loan Obligation (“CLO”) fund totalling c.$500m (c.€ 470m), arranged by Deutsche Bank. Apidos XLIII is the first new CLO priced by CVC Credit’s transatlantic performing credit platform this year and will increase CVC Credit’s global AUM to over $38 billion (€36 billion).
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Octaura Hires Howard Cohen as Head of Loan Execution
February 28, 2023Octaura, the electronic trading platform for syndicated loans, today announced the appointment of Howard Cohen as Head of Loan Execution. In this role, Mr. Cohen will be responsible for leading the platform's growth and integration strategies and is a member of the Octaura leadership team.
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