- TSL Feature Articles
- Cambridge Wilkinson Investment Bank Closes $100 Million Credit Facility Upsizing for Specialty Finance Platform
- Equify Business Funding Provides $5,000,000 ABL Facility Refinance to Gulf Coast Power Systems Manufacturer
- RelPro Partners with the National Center for the Middle Market to Power Deeper Insights and Outreach
- Trinity Capital Inc. Provides $20 Million in Growth Capital to Emboline, Inc. to Advance Interventional Heart Procedure Technology
TSL Express Daily Articles & News
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First Citizens Bank Launches Middle Market Banking Across Southeastern U.S.
First Citizens Bank today announced the official launch of its Middle Market Banking unit to support the financial needs and goals of midsize businesses across the Southeastern U.S.
Headquartered in Charlotte, First Citizens Middle Market Banking is now serving clients across North Carolina and neighboring Southeastern states, including Virginia, South Carolina, Georgia and Florida, with a full-suite of banking services.
TSL Express Trending Story
Featured
Lender Stayed From Proceeding With UCC Article 9 Sale
Moritt Hock & Hamroff recently reported on the impact of the COVID-19 pandemic on Uniform Commercial Code (“UCC”) Article 9 sales. Now, a second significant decision on this issue has been published. While our last alert concerned whether Article 9 sales may proceed in light of Governor Andrew Cuomo’s Executive Order precluding foreclosures (and reported a decision holding such Article 9 sales may proceed), this latest decision addresses the Article 9 “commercial reasonableness” standard in the present environment, holding that the sale terms established by the lender in question were not reasonable and staying the sale for at least thirty (30) days.
TSL Express Daily Headlines & News
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Amerisource Closes $3,000,000 Revolver for Independent Sponsor/Specialty Pumping Services Firm
February 9, 2023Amerisource Business Capital announced the closing and funding of a $3,000,000 asset-based revolver for a Texas-based specialty pumping services firm. The proceeds were used to support the company’s growth.
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B. Riley Securities Serves as Sole Bookrunner on Bed Bath & Beyond $1.025bn Public Equity Offering
February 9, 2023B. Riley Securities, Inc., a leading middle market investment bank and subsidiary of B. Riley Financial, Inc. (Nasdaq: RILY), is pleased to have served as sole bookrunner on a successful underwritten public offering of Bed Bath & Beyond Inc. (Nasdaq: BBBY) Series A convertible preferred stock and warrants.
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SLR Digital Finance Provides a $5MM Credit Facility to Ignite Media Group
February 8, 2023SLR Digital Finance is pleased to announce the funding of a $5MM credit facility for Ignite Media Group, a performance marketing company that offers digital marketing strategy, multi-channel targeted advertising, compliance management, analytics, and campaign optimization to support customer acquisition efforts for Fortune 500 brands. Ignite Media Group was recently spun out of Amobee, an international advertising technology company that sold to Tremor International in September, 2022.
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Crown Capital Announces New C$43.5 million Credit Facility with Canadian Western Bank
February 8, 2023Crown Capital Partners Inc. ("Crown" or the "Corporation") (TSX: CRWN), a capital partner to entrepreneurs and growth businesses, today announced that it has entered an agreement for a new senior secured corporate credit facility of up to $43.5 million ("Credit Facility") with Canadian Western Bank. This Credit Facility replaces Crown's previous $23.5 million corporate credit facility.
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Autocanada Announces Credit Facility Extension and Upsizing To $1.6 Billion
February 8, 2023AutoCanada Inc. ("AutoCanada" or the "Company") (TSX: ACQ), a multi-location North American automobile dealership group, announced today that it has amended and extended its existing credit facility to April 15, 2026.
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Culain Capital Funding Announces a $4.5MM Funding for a Pennsylvania-based Manufacturer of Machined Parts and Fasteners
February 8, 2023Culain Capital Funding LLC, a specialty finance firm focusing on responsive and efficient funding solutions for small and medium sized business in the United States announces the closing of a $3,000,000 Accounts Receivable Factoring Facility along with a $1,500,000 acquisition term note for a manufacturing company specializing in custom steel bar and bolting products
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nFusion Capital Reveals 2022 as Banner Year
February 8, 2023nFusion Capital recently announced their 2022 year-end results, which included building 156 new client relationships, purchasing $488 million in receivables, and offering 193 lines of credit totaling over $83 million. In addition, the team built an industry-leading 24/7/365 funding program to make funding available anytime, including on federal holidays.
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First Citizens Bank Provides $31.2 Million for Acquisition of Cancer Treatment Center in Columbia, South Carolina
February 8, 2023First Citizens Bank today announced that its Healthcare Finance group, part of the CIT division, provided $31.2 million to Montecito Medical Real Estate to finance the acquisition of a cancer treatment center in Columbia, South Carolina.
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MetLife Investment Management to Acquire Alternative Investment Firm Raven Capital Management
February 8, 2023MetLife Investment Management (MIM), the institutional asset management business of MetLife, Inc. (NYSE: MET), announced that it has entered into a definitive agreement to acquire Raven Capital Management, a privately-owned alternative investment firm. As of December 31, 2022, Raven’s assets under management totaled $2.1 billion. The acquisition is subject to customary closing conditions.
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Wingspire Capital Exceeds $3 Billion In Commitments
February 8, 2023“We are pleased to reach this commitment milestone in our third year of operations as we continue to solidify and expand our standing as a leading diversified specialty finance firm serving the middle market,” said David Wisen, CEO and Co-Founder of Wingspire. “In addition to continuing to offer flexible capital during a challenging year, we also acquired Liberty Commercial Finance, expanding our product offering. Rebranded as Wingspire Equipment Finance, this vertical will accelerate Wingspire’s growth via a dedicated equipment finance direct originations platform.”
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Crescent European Specialty Lending Announces Financing for Equistone’s Acquisition of BUKO Infrasupport and BUKO Waakt
February 8, 2023Crescent Capital Group LP, a leading alternative credit investment firm, announced today that its European Specialty Lending strategy has provided financing to support Equistone Partners Europe’s (“Equistone”) acquisition of a majority stake in BUKO Infrasupport and BUKO Waakt (“BUKO”), leading providers of outsourced traffic and safety management solutions in the Netherlands.
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Solifi’s Latest ABL Release Sets the Stage for 2023 Enhancements
February 8, 2023Solifi™, a global fintech software partner for secured finance, announced the release of its latest version of Solifi Asset-Based Lending (ABL) software, which includes several new and enhanced features designed to improve both the lender and borrower experiences through greater risk management controls, efficiency gains with loan syndication data and automated workflows, and self-service white-label capabilities to brand the ABL borrower portal.
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SG Provides Growth Capital Facility to Promenade
February 7, 2023Promenade was seeking growth financing to capitalize on new market opportunities in underserved verticals. SG structured a non-dilutive growth facility that provided the Company with sufficient capital to add key product development and sales personnel to execute on its plans.
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Hecate Grid Secures a $98.9 Million Term Loan & Letter of Credit Facility Package
February 7, 2023Hecate Grid, a joint venture between Hecate Energy and Infrared Capital Partners ("IRCP"), today announced the recent close of a six-year $98.9 million credit facility package to recapitalize its operating assets and fund the construction of a portfolio of standalone battery storage assets in Southern California. The debt facility package, which includes a $79.5 million term loan and $19.4 million Letter of Credit ("LC") facility, is collateralized by Hecate Grid's energy storage projects without a guarantee or other credit support.
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Capstone Partners Aggressively Expands Debt Advisory Group
February 7, 2023Brad Stewart is based in Boston and brings over 20 years of debt financing experience to the team. He was previously a Partner at debt advisory firm Capital Solutions Group and, prior to that, was in the debt capital markets group at Audax Private Equity. Brad brings a track record of success in middle market financings having placed debt both as an advisor and as a private equity sponsor.
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Scott Welkis Joins Kramer Levin as Partner in the Banking and Finance Group and Chair of Special Situations Practice
February 7, 2023Scott Welkis has joined Kramer Levin’s New York office as a partner in the Banking and Finance group of the Corporate department and chair of the firm’s Special Situations practice. Mr. Welkis has extensive experience handling a wide variety of debt financing transactions. He advises credit funds, private equity funds, hedge funds and other alternative capital sources, as well as banks and other financial institutions.
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Bed Bath & Beyond Plans to Sell Shares in bid to Avoid Bankruptcy
February 7, 2023Struggling retailer Bed Bath & Beyond said Monday it plans to sell shares of the company in hopes of generating enough cash to avoid filing for bankruptcy. Bed Bath & Beyond is aiming to raise $1 billion from the offering and use the proceeds to pay down some of its debt and make interest payments it missed on other loans. Mired in a sales slump, the home goods chain is set to close 87 more stores in coming weeks after shutting 150 locations last year.
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Solar Integrated Roofing Corp. Secures $10 Million Revolving Credit Facility with Top Four National Bank
February 6, 2023Solar Integrated Roofing Corp. (OTC:SIRC), an integrated, single-source solutions provider of solar power, roofing and EV charging systems, today announced it has secured a new $10 million revolving credit facility with a top four national bank to finance the Company’s working capital requirements, subject to customary closing conditions.
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AutoCanada Boosts Credit Facility to C$1.6 Billion
February 6, 2023AutoCanada Inc. said Monday it extended and boosted the size of a credit facility to 1.6 billion Canadian dollars (US$1.19 billion), providing the company further flexibility to push ahead with growth plans. The automobile-dealership company said its existing credit facility has been extended to April 15, 2026, and the revolving facility increases by C$100 million, to $375 million.
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Portillo’s Inc. Completes Successful Debt Refinancing Transaction
February 6, 2023Portillo’s Inc. (Nasdaq: PTLO), the fast-casual restaurant concept known for its menu of Chicago-style favorites, today announced that it has successfully refinanced its existing credit facility with a new 5-year $300 million Term A Loan, resulting in a significant reduction in interest expense. At prevailing rates, the all-in interest rate on the term debt has been reduced by approximately 270 basis points. The refinancing provides Portillo’s with greater financial flexibility in support of the Company’s ongoing expansion.
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