- Commercial Finance Partners Closes Five Factoring Facilities in Five Days
- Flagstar Bank Extends Joseph Otting's Term a CEO and Announces Executive Leadership Updates
- Darin Cabral Joins BRG as Chief Financial Officer
- Brean Capital Closes $74.5 Million Corporate Note Financing for Renovo
- Legacy Corporate Lending Provides a $31MM Asset-Based Revolver to Natural Alternatives
TSL Express Daily Articles & News
To submit company news and press releases toTSL Express, email tslexpress@sfnet.com.
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Jeter to Serve as BOK Financial Commercial Banking Executive Director
David Jeter has been named executive director for BOK Financial’s Commercial Banking line of business. The line of business, which generally serves owner-managed companies and nonprofits with $5 million to $50 million in revenue, is one of the company’s largest lines of business.
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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Eastern Bank Launches Equity Alliance for Business, Further Advancing Growth Opportunities for Underrepresented Business Owners
March 13, 2023As part of its deep and long-standing commitment to drive greater economic inclusion and mobility, Eastern Bank is announcing today the launch of Equity Alliance for Business to further advance the growth of underrepresented business owners and entrepreneurs. Specifically for business owners who are women or people of color and all their intersectionality, including the LGBTQIA+, veterans and disabled communities, Equality Alliance for Business provides a specialized credit offering designed to meet the needs of diverse business owners.
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BizCap Announces Hiring of Kylie Whetsel as Marketing Manager
March 13, 2023BizCap, a leading provider of financial solutions for small and lower middle market businesses, is pleased to announce that Kylie Whetsel has joined the firm as Marketing Manager. In this role, Kylie will be responsible for developing and executing strategies that will further enhance the company's visibility and growth in the marketplace.
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Flatbay Capital Funds Commercial Transportation Company in Five Days
March 13, 2023Just days before Christmas, 2022 Flatbay Capital LLC closed the fastest loan in Flatbay Capital’s company history, from term sheet signing to funding in 5 days! The deal was a $6,960,000 owner-occupied CRE loan for a Texas-based commercial transportation company.
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Gibraltar Business Capital Expands Line of Credit with Bank of America
March 9, 2023Gibraltar Business Capital (“GBC”) is proud to announce it has secured an increased line of credit with Bank of America, building upon the partnership first announced in May 2021. While Bank of America remains the lead agent in the expanded senior line of credit financing arrangement, the syndicate backing this credit line also includes M&T Bank, Truist Bank and Wells Fargo.
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Drive Shack Inc. Announces $26.5 Million Term Loan Facility
March 9, 2023Drive Shack Inc. (OTCQX: DSHK) (the “Company”), a leading owner and operator of golf-related leisure and entertainment businesses, announced today that it has obtained a $26.5 million senior secured term loan facility to fund the construction of its Puttery venues currently in development.
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Medexus Announces US$58.5 Million in New Credit Facilities
March 9, 2023Medexus Pharmaceuticals (TSX: MDP; TSX: MDP.DB; OTCQX: MEDXF) today entered into a new senior secured credit agreement agented by BMO. The credit agreement provides for a US$35 million term loan facility and a US$3.5 million revolving loan facility for working capital. The term loan facility benefits from an additional US$20 million uncommitted accordion feature, which Medexus is confident will be available.
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Embraer Closes US$ 200 Million Credit Facility in the US
March 9, 2023Embraer (NYSE: ERJ, B3: EMB3) has closed a US$200 million credit facility to finance purchases from direct suppliers in the United States. This financing is being provided by Citibank and guaranteed by the Export-Import Bank of the United States (EXIM), the country’s official export credit agency.
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Marathon Asset Management Closes $400 Million New Issue Collateralized Loan Obligation
March 9, 2023Marathon Asset Management LP (“Marathon”) is pleased to announce the closing of Bryant Park Funding 2023-19 Ltd., a $400mm new issue Collateralized Loan Obligation (“CLO”). This is the first new CLO executed by Marathon’s global Performing Credit platform in 2023, as well as the first under the firm’s Bryant Park Funding shelf. Marathon’s Bryant Park Funding CLO program focuses on high-quality, liquid, broadly syndicated senior secured loans with an emphasis on capital preservation, lower volatility, and structural durability.
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Automated Financial Systems, Inc. Announces Latest Version of the Industry’s Next-Generation Lending Solution, AFSVision®
March 9, 2023Automated Financial Systems, Inc. (AFS®) is pleased to announce the delivery of our latest release 3.4 of AFSVision, the industry’s only true real-time, end-to-end, commercial lending platform.
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A&G Auctioning Over 250 Tuesday Morning Leases Nationwide in Connection With Retailer’s Chapter 11 Reorganization
March 9, 2023A&G Real Estate Partners will be auctioning over 250 leases nationwide as part of a first round of store closures from Tuesday Morning Corp. in connection with the off-price home goods and décor retailer’s voluntary Chapter 11 reorganization.
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Fintechs Unite With Launch of ‘Lenvi’
March 8, 2023A trio of fintechs with years of industry-leading experience are joining forces to form a powerhouse set to take on consumer and commercial lending markets. Lenvi brings together EQ Credit Services, EQ RiskFactor and EQ KYC Solutions into a single entity under a new leadership team, with big ambitions to deliver more powerful, relevant and responsible lending solutions for customers.
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RRD Announces Pricing and Allocation of $1.25 Billion Term Loan
March 8, 2023R.R. Donnelley & Sons Company (“RRD” or the “Company”) today announced the pricing and allocation of a 5-year $1.25 billion senior secured term loan B (the “New Term Loan”).
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FTI Capital Advisors Strengthens Positioning in Asia with Hong Kong Expansion
March 8, 2023FTI Consulting, Inc. (NYSE: FCN) today announced the launch of its FTI Capital Advisors offering in Hong Kong, complementing the existing operations in Singapore. Led by Senior Managing Director Jason Ho, the senior team based in Hong Kong includes Managing Director Alex Wong.
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Hilco Global and SB360 Capital Partners Engaged as Exclusive Agents in United Furniture Industries' Chapter 11 Dispositions
March 8, 2023United Furniture Industries, Inc. ("UFI") has engaged a joint venture of SB360 Capital Partners, LLC ("SB360") and Hilco Global ("Hilco") (SB360 and Hilco together are hereinafter referred to as the "JV") as exclusive agents for the disposition of Inventory, M&E, and FF&E, as well as the servicing and settlement of Receivables on the Company's behalf. Specific engaged Hilco entities include Hilco Wholesale Solutions, LLC, Hilco Commercial Industrial, LLC, and Hilco Receivables, LLC.
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Golub Capital Expands in Europe
March 8, 2023Golub Capital has expanded its presence in Europe with three new additions to its London-based team. Daniel von Rothenburg joined as a Managing Director and Head of EMEA on the Business Development and Investor Relations team. Philipp Schroeder joined Golub Capital as a Senior Director on the Direct Lending team. Mensah Lambie joined Golub Capital as a Principal on the Direct Lending team.
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Sound Point Capital Provides Financing to Support the Acquisition of Gannett Fleming
March 8, 2023Sound Point Capital Management (“Sound Point”) is pleased to announce that it acted as Administrative Agent on a first lien senior secured credit facility to Gannett Fleming (the “Company”), a leading engineering and infrastructure solutions provider. The financing was used to support the acquisition of the Company by OceanSound Partners (“OceanSound”).
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Rosenthal Closes Joint Recourse Factoring and Purchase Order Financing Facility for Specialty Foods Company Totaling $5.5 Million
March 8, 2023Brian Gagel Joins Rosenthal as Recourse Factoring Portfolio Manager (NEW YORK) MARCH 9, 2023– Rosenthal & 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 a combined deal for a specialty foods company that includes a $3.5 million recourse factoring facility and a $2 million purchase order line.
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Oakworth Capital Bank Finances Facility Supporting Navis Clinical Laboratories' Purchase of Lab Business
March 7, 2023Oakworth Capital Bank (OTCQX: OAKC) acted as servicer and sole agent for a senior secured credit facility that supports the Navis Clinical Laboratories purchase of the clinical laboratory business of Cordant Health Solutions. Proceeds from the financing were used to fund the acquisition, as well as support Navis’ ongoing working capital needs.
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Origis Energy Announces $750 Million Credit Facility for Solar and Energy Storage Development Pipeline in the U.S.
March 7, 2023Origis Energy, one of America’s leading renewable energy platforms, today announced the close of an upsizing amendment to their development finance facility doubling capacity to $750 million. With enhanced flexibility and increased capacity, the credit facility will support further expansion of its solar and energy storage project pipeline. This financing round follows a $375 million facility announced in May 2022.
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Vmo Aircraft Leasing Upsizes and Extends Warehouse Credit Facility to $1.225 Billion
March 7, 2023Vmo Aircraft Leasing (“Vmo”), announces the upsizing and extension of its warehouse credit facility to $1.225 billion. The five-year senior secured warehouse facility originally closed in November 2021, with an initial committed amount of $600 million. The upsizing more than doubles the capacity of the facility and brings new banking partners into the credit facility, including BNP Paribas, Goldman Sachs, KeyBank and Societe Generale.
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