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TSL Express Daily Articles & News
To submit company news and press releases to TSL Express, email tslexpress@sfnet.com.Today's Top Story
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Bell Bank announces the launch of Bell Business Credit, a national specialty lending team providing asset-based lending and factoring services ideally suited for working capital intensive companies that generate $2 million to $120 million in annual revenue.
Led by industry veterans Kei Lehigh, who serves as president, and Matt Howe, director of credit and operations, Bell Business Credit further expands Bell Bank’s commercial finance and specialty lending areas. Lehigh and Howe bring to Bell more than 50 years of combined commercial lending experience in this niche.
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SFNet values its members’ input and feedback as it helps shape priorities and drills down to focus on what matters most. Results from SFNet’s Annual Membership Survey, completed earlier this year, were very positive, with 90% of SFNet members reporting they’d recommend SFNet to friends and colleagues and two thirds reporting SFNet’s response to the pandemic has been better than any other association to which they belong.
In fact, our association has seen our Net Promoter Score (a key measure of loyalty) steadily increase over the past three years, up 37 points since 2018 and well above trade association averages. Results also gave us ideas for areas of improvement, and SFNet is taking on several new initiatives in response to this. This article will break down the membership survey results and what the Association has planned for the remainder of 2021.
TSL Express Daily Headlines & News
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Pinnacle Capital Finance Provides a $5 Million Credit Facility to a Mid-Western Based Die Casting Company
July 24, 2023Pinnacle Capital Finance is proud to announce the issuance of a $5MM combination asset-based AR & Inventory line of credit along with a variety of term loans. The revolver is being used to fund operations, while the term loans that total half the amount of the entire credit facility were used as acquisition funding to complete the sale of this nearly 100-year-old Die Casting company.
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O2 Investment Partners Announces Promotions
July 24, 2023O2 Investment Partners (www.o2investment.com) is excited to announce the promotions of Andrew Faubel to Vice President, Sam Wegenke to Senior Associate and William Laffrey to Senior Associate.
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AppHarvest Announces Chapter 11 Filing to Support a Financial and Operational Transition
July 24, 2023The company has also obtained a commitment from Equilibrium, the company’s largest secured creditor, to provide approximately $30 million of debtor-in-possession (“DIP”) financing to provide the necessary liquidity to support operations at the AppHarvest Morehead, AppHarvest Richmond and AppHarvest Somerset farms during the Chapter 11 process. The DIP financing is subject to approval of the Court.
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Berkshire Bank Welcomes David Coughlin, SVP, Private Banking
July 24, 2023Berkshire Bank, a leading, socially responsible community bank with financial centers in New England and New York, is proud to announce that David J. Coughlin, a seasoned private and commercial banking professional, has joined Berkshire’s growing Private Banking team as a senior vice president (SVP), Private Banking, serving the Boston market.
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CVC Credit Prices Seventh New CLO of 2023
July 24, 2023CVC Credit, the $41 billion global credit management business of CVC, is pleased to announce that it has priced Apidos XLVI (46) a $504 million (c.€453 million) Collateralized Loan Obligation ("CLO"). Societe Generale acted as lead arranger.
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Verrica Pharmaceuticals Enters into Non-Binding Term Sheet for up to $125 Million Debt Financing
July 24, 2023Verrica Pharmaceuticals Inc. (“Verrica” or “the Company”) (Nasdaq: VRCA), a dermatology therapeutics company developing medications for skin diseases requiring medical interventions, today announced that the Company has entered into a non-binding term sheet for a term loan facility of up to $125 million, which the Company expects to close by the end of this week.
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Steering Committee of Ad Hoc Term Loan Lenders and BYJU’S Agree to Complete Loan Amendment by August 3, 2023
July 24, 2023Houlihan Lokey serves as financial advisor to the term loan lender group and Kirkland & Ellis LLP, Cahill Gordon & Reindel LLP, and Shearman & Sterling LLP are serving as legal advisors.
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Angelo Gordon Bolsters Structured Credit Team to Capture Growing Opportunity Set
July 24, 2023Angelo, Gordon & Co., L.P. (“Angelo Gordon” or the “Firm”), a $73* billion alternative investment firm focused on credit and real estate investing, today announced a number of senior personnel moves to bolster the Firm’s structured credit business.
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1st Commercial Credit, LLC Supports Louisiana-Based Temp-Agency Client's Expansion into Florida Market with $100,000 Loan
July 24, 20231st Commercial Credit, LLC, a leading financial services provider specializing in invoice factoring solutions, is pleased to announce its support for a Louisiana-based temp-staffing agency's expansion into the lucrative Florida market. Facilitating a $100,000 loan, 1st Commercial Credit, LLC aims to empower its valued client to capitalize on the flourishing opportunities in Florida and continue their remarkable growth trajectory.
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Paul Black II, Leslie Hammond, Kelly Maxwell and Alan Patterson join Coastal States Bank's Commercial Banking Team in Atlanta
July 24, 2023Coastal States Bank ("CSB") is pleased to announce the addition of four new bankers to their Atlanta region. Paul Black II, Leslie Hammond, Kelly Maxwell and Alan Patterson joined CSB's Cobb County team in July and will serve customers at CSB's Akers Mill branch.
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FTI Consulting Strengthens Restructuring Capabilities with Addition of Two Senior Hires and Dedicated Practice in Manchester
July 24, 2023FTI Consulting, Inc. (NYSE: FCN) today announced the appointment of two Senior Managing Directors in the Corporate Finance & Restructuring segment and the launch of a dedicated Restructuring practice in Manchester, England, to further strengthen the firm’s restructuring and insolvency capabilities in the United Kingdom.
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Obra Capital Completes Acquisition of KDP Assets
July 24, 2023Obra Capital, Inc. (“Obra”), a specialized alternative asset management firm that provides investment products and solutions across insurance special situations, structured credit, asset-based finance, and longevity, today announced that it has completed the acquisition of the assets of KDP, LLC and its affiliated companies (“KDP”).
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Christopher Tomai Joins Peapack Private
July 24, 2023New Jersey holding company Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC) announces that Christopher Tomai has joined Peapack Private, a division of Peapack-Gladstone Bank, as Senior Managing Director and Senior Relationship Manager. He is part of a team of private banking professionals being assembled to support Peapack Private as it expands its business into New York City.
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NineDot Energy Closes $25 Million Revolving Credit Facility with NY Green Bank (NYGB)
July 24, 2023NineDot Energy®, a leading developer of community-scale clean energy projects, today announced the closing of a new $25 million revolving credit debt facility provided by NY Green Bank (NYGB), a division of the New York State Energy Research and Development Authority (NYSERDA).
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Salmon Raises $20m Debt Facility From Argentem Creek Partners
July 24, 2023Salmon, a consumer FinTech company, has secured a $20 million debt facility from U.S-based investment firm Argentem Creek Partners, enabling Salmon to scale its lending operations across the Philippines further.
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SLR Digital Finance Hires RJ Ammons as AVP, Underwriter and Linda Aghajanian as VP, Account Executive
July 24, 2023SLR Digital Finance, a wholly owned subsidiary of SLR Business Credit, is proud to announce the hiring of RJ Ammons as Assistant Vice President and Underwriter, and Linda Aghajanian as Vice President and Account Executive. Based in Sherman Oaks, CA, SLR Digital Finance offers asset-based lending and factoring for businesses in the digital media and advertising sector nationwide.
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B. Riley Securities Serves as Sole Bookrunner and Placement Agent in Lilium Upsized $192 Million Financing
July 24, 2023B. Riley Securities, Inc. (“B. Riley”), leading middle market investment bank and subsidiary of B. Riley Financial, Inc. (Nasdaq: RILY), is pleased to have served as sole bookrunner, underwriter and placement agent in connection with an upsized underwritten public offering for Lilium N.V. (Nasdaq: LILM), the developer of the first all-electric vertical take-off and landing jet.
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SFNet Member Spotlight: Riemer & Braunstein
July 21, 2023R&B's Commercial Finance Group works with clients providing financing to support businesses ranging from public companies to private equity-backed companies. Our clients include maior domestic and international lenders. middle-market and regional lenders, and alternative lenders.
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Kirkland Advises Intersect Power on Up to $800 Million Revolving Credit Facility
July 20, 2023Kirkland & Ellis advised Intersect Power in obtaining an up to $800 million revolving credit facility to support the development, construction and operation of Intersect’s next wave of renewables, energy storage and green hydrogen projects.
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Ekinops Signs up for a €100 Million Credit Line to Support its External Growth Strategy
July 20, 2023EKINOPS (Euronext Paris - FR0011466069 - EKI), leading provider of telecommunications solutions for telecom operators and enterprises, announces the signing of a new credit line with its banking partners.
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