- Vistina Strengthens Structured Credit and Ratings Advisory Platform with Appointment of Jeanine Arnold
- SouthStar Capital Delivers $750,000 Working Capital Facility for Texas Environmental Materials Business
- MONTICELLOAM, LLC Delivers $435MM Supporting over 1,890 Skilled Nursing Beds
- Gordon Brothers Acquires Radley Brand
- Alpine Ridge Funding Announces New Executive Hire
TSL Express Daily Articles & News
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CIT Arranges $58.9 Million Financing for Micro-Hospital Portfolio
CIT, a division of First Citizens Bank, today announced that its Healthcare Finance business served as lead arranger of $58.9 million in financing for the acquisition of a portfolio of six micro-hospitals.
The buyer is a joint venture directed by an affiliate of Rethink Healthcare Real Estate, formerly Seavest Healthcare Properties. Each property within the portfolio is branded Baylor Scott & White Emergency Hospital.
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The Courts’ View of UCC Article 9 Sales In The COVID-19 Environment Is Clearly Changing
In the beginning of the pandemic, we reported that courts viewed Article 9 sales with a more critical eye. For example, we previously reported that Justice Masley of the New York Supreme Court, New York County Commercial Division, issued a decision on June 23, 2020 in D2 Mark LLC v. OREI VI Investments, LLC, holding that a UCC Article 9 sale on thirty-six (36) days’ notice, which required the winning bidder to make a non-refundable deposit of 10% of the purchase price, pay the remaining balance within 24 hours, and precluded the borrower from submitting a bid, was commercially unreasonable because of the dire implications of COVID-19. Article: Lender Stayed From Proceeding With UCC Article 9 Sale
TSL Express Daily Headlines & News
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Rosenthal Closes $25 Million Factoring Facility to Support Popular Baby Products Company
March 6, 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 a recent $25 million factoring deal for an established and growing company in the juvenile products space.
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Exela Technologies Announces New Funding, Amendment Increases Existing Securitization Facility to $185 Million and Other Related Transactions
March 6, 2023Exela Technologies, Inc. (“Exela” or the “Company”) (NASDAQ: XELA, XELAP), a global business process automation leader, today reported its subsidiaries had obtained $51 million of new funding from B. Riley Commercial Capital, LLC (“BRCC”) and an affiliate of BRCC through a combination of an amendment of the Company’s existing $150 million PNC securitization facility to permit the addition of $35 million of junior secured financing, a separate sale of receivables, and an increase in availability under a revolving line of credit.
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Sachem Capital Corp. Announces New Credit Facility
March 6, 2023Sachem Capital Corp. (NYSE American: SACH) (“Sachem”, “the Company”), a financing company that specializes in originating, underwriting, funding, servicing, and managing a portfolio of first mortgage loans, announced today the Company has entered into a $45 million revolving line of credit with Needham Bank.
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First Citizens Bank Provides Financing to Purus Marine
March 2, 2023First Citizens Bank today announced that its Maritime Finance group, part of the CIT division, provided financing to Purus Clean Energy, a subsidiary of Purus Marine, to support the acquisition of the MV Green Power, a 40,000 cbm ammonia carrier.
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Medalist Partners Expands Senior Investment Team within Specialty Finance
March 2, 2023Medalist Partners, an alternative investment management firm focused on asset-based private credit and structured credit, announced today that industry veteran Mark Crawley has joined the firm as a Private Credit Sector Manager.
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Culain Capital Funding Closes $250,000 for National Security Staffing and Investigative Company
March 2, 2023Culain Capital Funding LLC, a specialty finance firm focusing on responsive and efficient funding solutions for small and medium sized businesses in the United States announces the completion of a $250,000 Accounts Receivable Factoring Facility with a privately-owned national provider of Security Guards and Investigative Services Company.
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SLR Equipment Finance Expands its Business Development Capabilities and Announces That Kevin Libert has Joined the Company
March 2, 2023SLR Equipment Finance is pleased to announce Kevin Libert has joined our company as a Senior Vice President of Business Development. In his role, Kevin will help grow SLR Equipment Finance’s leasing and lending activities with equipment dealers in California, Nevada, Arizona, Utah, Wyoming, Idaho, Montana, Oregon, Washington, Alaska, and Hawaii. Kevin began his career with ITT Industrial Credit Company.
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SG Stonegate Announces a Senior Debt Investment in Chomps
March 2, 2023Chomps, a family-owned and operated healthy meat snack brand offering products made from the highest-quality, sustainably sourced proteins. This announcement comes on the heels of Chomps’ latest innovation launch of Habanero Beef and Taco Beef on March 1, as well as the brand’s appointment of Liz Carter as President and COO.
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Hofstra Law Awards 2022-2023 Recipients of Moritt Hock & Hamroff Fellowship & Marc Hamroff Annual Scholarship
March 2, 2023The Maurice A. Deane School of Law at Hofstra University has named Juliana Gonzalez as the recipient of the 2022-2023 Moritt Hock & Hamroff Business Law Honors Fellowship and Estelle Gregory as the recipient of the 2022-2023 Marc Hamroff Annual Scholarship. The Fellowship is awarded to an incoming law student who has demonstrated outstanding academic achievements and an interest in pursuing a career in business law. The Scholarship is awarded to a deserving entering student on the basis of demonstrated academic achievement and/or financial need.
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Nuveen Closes Acquisition of Arcmont, Leading European Private Debt Manager
March 2, 2023Nuveen, the investment manager of TIAA, has successfully completed its acquisition of a controlling interest in Arcmont Asset Management, a leading European private debt investment manager. The deal was initially announced on October 27, 2022.
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Former Assistant U.S. Attorney in District of New Jersey Adam Baker Joins King & Spalding in New York
March 2, 2023King & Spalding announced today that Adam Baker has joined the firm’s Special Matters and Government Investigations team as a partner in the New York office. Baker most recently served as Assistant U.S. Attorney in the U.S. Attorney’s Office (USAO) in the District of New Jersey.
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Monroe Capital Selected as 2022 Lower Mid-Market Lender of the Year and CLO Manager of the Year by Private Debt Investor
March 2, 2023Monroe Capital LLC (“Monroe”) was selected as the recipient of two separate Private Debt Investor (“PDI”) awards, including the 2022 Lower Mid-Market Lender of the Year and CLO Manager of the Year in the Americas. PDI is published by PEI, the only global B2B information group focused exclusively on private equity, private debt, private real estate, infrastructure and agri investing.
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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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