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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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ePlus Expands Credit Facility
ePlus inc. (NASDAQ NGS: PLUS – news) a leading provider of technology and financing solutions, today announced that its wholly-owned subsidiaries ePlus Technology, inc., ePlus Technology Services, inc. and SLAIT Consulting, LLC (collectively, the "Borrowers") recently entered into an amendment to their credit agreement with their lenders (the "Lenders") for which Wells Fargo Commercial Distribution Finance Corporation ("WFCDF") acts as administrative agent.
TSL Express Trending Story
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As the ongoing COVID-19 pandemic continues to disrupt global trade, port congestion has reached critical levels. With little to no excess shipping capacity and high demand, Gordon Brothers expects supply chain congestion through at least the first half of 2021.
A previous article in this two-part series reviewed current supply chain stresses, the manufacturing and shipping irregularities causing stress and the pandemic’s continued ramifications for U.S. consumers.
In this follow-up article, Gordon Brothers’ inventory and valuation expert Ulos Anderson takes a closer look at this tight capacity and how sharp increases in shipping costs are compounding current issues. Additionally, he reviews the effects trade with China and demand for consumer products, which have soared amid pandemic lockdowns, have on supply and demand across industries and asset types for those in the banking, lending and restructuring industries.
A previous article in this two-part series reviewed current supply chain stresses, the manufacturing and shipping irregularities causing stress and the pandemic’s continued ramifications for U.S. consumers.
In this follow-up article, Gordon Brothers’ inventory and valuation expert Ulos Anderson takes a closer look at this tight capacity and how sharp increases in shipping costs are compounding current issues. Additionally, he reviews the effects trade with China and demand for consumer products, which have soared amid pandemic lockdowns, have on supply and demand across industries and asset types for those in the banking, lending and restructuring industries.
TSL Express Daily Headlines & News
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Blue Bridge Financial Extends and Upsizes Corporate Note to $20.0 Million
June 28, 2023Blue Bridge Financial, Inc. (“Blue Bridge” or the “Company”), a leading independent commercial equipment finance company, announced the successful upsizing and extension of its corporate notes to $20.0 million. These notes refinanced the Company’s $15.0 million corporate notes financing from January 2021.
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Leslie Berkoff, Theresa Driscoll Named To Lawdragon's 500 Leading U.S. Bankruptcy & Restructuring Lawyers For 2023
June 28, 2023Moritt Hock & Hamroff announced today that Leslie Berkoff and Theresa Driscoll, partners of the firm, have been recognized by Lawdragon as 500 Leading U.S. Bankruptcy & Restructuring Lawyers for 2023. The annual Lawdragon 500 Leading Lawyers in America is the most elite distinction in the profession, covering the best of the best in all practice areas.
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BHI Provides $90 Million Line of Credit to Yellowstone Real Estate Investments
June 28, 2023BHI, a full-service commercial bank, announced that it has closed a $90 million capital call line of credit facility for Yellowstone Real Estate Investments. The financing provides a one-year line of credit that the company will employ for ongoing property acquisitions.
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Aequum Capital Expands Existing Warehouse Line with the Addition of Wells Fargo & Company
June 28, 2023Aequum Capital recently expanded its revolving line of credit led by Texas Capital Bank to $60 million by adding Wells Fargo & Company to the bank lending group. This new financing will further augment Aequum's significant equity base led by Castlelake, LP.
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Huntington Names Vijay Konduru Chief Marketing Officer
June 28, 2023The Huntington National Bank ("Huntington") has welcomed Vijay Konduru as executive vice president, chief marketing officer (CMO). In this role, Konduru will lead Huntington's marketing organization, overseeing the bank's marketing strategy and long-term vision.
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CIBC Innovation Banking Provides Growth Financing to KeyOps
June 28, 2023CIBC Innovation Banking announced today that it has provided growth financing to KeyOps, a Toronto-based insights and engagement platform that connects physicians to life science companies. KeyOps will use the funds to invest in product development and expansion into the US market.
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Texas Capital Launches Innovative Onboarding Technology Solution for Commercial Businesses
June 28, 2023Texas Capital Bancshares, Inc. (NASDAQ: TCBI), the parent company of Texas Capital, has announced the launch of Texas Capital Initio™, an internally developed, proprietary digital onboarding solution designed to revolutionize the commercial banking experience by simplifying and accelerating the process of opening an account.
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D'Aloia Joins CohnReznick as Financial Services Partner
June 28, 2023CohnReznick LLP, one of the leading advisory, assurance, and tax firms in the United States, today announced that Danielle D’Aloia has joined the firm as a partner in its Financial Services practice. She brings more than 27 years of combined experience providing tax planning, compliance services, audit, and fund administration to investment management organizations and the alternative investments industry.
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Trident Maritime Systems Acquires Assets of Custom Alloy Corporation
June 28, 2023Blank Rome and Keller Benvenutti Kim provided legal counsel to Trident. SSG Capital Advisors served as financial advisor to CAC and Rabinowitz, Lubetkin & Tully and Cole Schotz provided legal counsel to CAC.
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Intersect Power Secures an Up to $800 Million Revolving Credit Facility to Support Expansion of its Clean Energy Platform
June 28, 2023Intersect Power, LLC, ("Intersect Power" or "Intersect"), announced the closing of an up to $800 million new revolving corporate credit facility to support its continued organizational growth and expansion of its clean energy platform. Partnering with Coordinating Lead Arrangers and Joint Bookrunners, Deutsche Bank AG, Nomura Securities International, and Santander Corporate & Investment Banking ("CIB"), Intersect closed on this revolving loan and letter of credit facility that will be used to further support Intersect's development pipeline and growing operational fleet.
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Eclipse Business Capital Provides Financing to Shoppers World
June 28, 2023Eclipse Business Capital LLC (“EBC”) announced it has provided financing to certain members of Shoppers World in conjunction with their acquisition of Forman Mills. Shoppers World is a discount retailer with 40 locations owned by the Dushey family. With the acquisition, Shoppers World continues their growth initiative, by doubling its store count and saving jobs across the Greater Atlantic and Midwest regions.
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Mitsubishi HC Capital America Sees Surge in Rental, Leasing Structures as Construction Businesses Look to Minimize Risk
June 28, 2023Mitsubishi HC Capital America, the largest non-bank, non-captive finance provider in North America, is experiencing significant growth in rental financing for dealer-owner and dedicated rental fleets, with year-over-year increases of 150%-550% among some of its clients.
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BMO Recognized as Best Private Bank, Best Commercial Bank and Best Retail Bank
June 27, 2023BMO has been named the Best Private Bank and Best Commercial Bank in Canada by World Finance Magazine for the 13th and 9th consecutive time respectively. BMO has also been awarded the Best Retail Bank in Canada for the second year in a row and Best Private Bank in the U.S. and Best Commercial Bank in the U.S. for the first time.
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Porsche AG Links Syndicated Credit Facility to ESG Strategy
June 27, 2023Porsche AG has signed a syndicated revolving credit facility of €2.5 billion. In total 21 banks from Europe, the Americas, and Asia have taken part in the transaction and will form the strategic core banking group in the future. The credit facility has a term of five years with two one-year extension options. There are currently no plans to draw the credit line as its sole purpose is to further strengthen Porsche’s liquidity position.
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CIBC Innovation Banking Provides Growth Capital to KeyOps
June 27, 2023CIBC Innovation Banking announced today that it has provided growth financing to KeyOps, a Toronto-based insights and engagement platform that connects physicians to life science companies. KeyOps will use the funds to invest in product development and expansion into the US market.
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H.I.G. Capital Completes Recapitalization of Advanced Dental Brands
June 27, 2023H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with $56 billion of equity capital under management, is pleased to announce that one of its affiliates has completed a significant growth investment in Advanced Dental Brands, LLC (“ADB” or the “Company”).
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Exchange Bank Announces Paul Yeomans as Senior Vice President, Senior Lending Officer
June 27, 2023-Exchange Bank (OTC: EXSR) announces the expansion of Paul Yeomans’ role from SVP, wholesale banking sales manager to SVP, senior lending officer, combining the Commercial Banking and Construction and Mortgage Lending departments into a single commercial lending origination force under his executive leadership. This includes Exchange Bank’s Roseville Commercial team and SBA loan production.
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MUFG Bolsters Sponsor Coverage Capabilities With new Hire
June 27, 2023Mitsubishi UFJ Financial Group (MUFG) announced today the expansion of its Sponsor Coverage effort with the hiring of Pam Bruno as Managing Director. Pam will be responsible for covering Private Equity Financial Sponsors for the bank. Based in New York, Pam will report to Robert Smock, Head of Sponsor Coverage & Advisory at MUFG.
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Strong Demand Drives Culain Capital’s Recent Hiring of Secured Finance Professionals
June 27, 2023Culain Capital (www.culaincapital.com) has announced the hiring of Anita Hall, Neal Polshuk and Daniel Stacey and has retained the services of David Weinstein to meet increased client demand for comprehensive accounts receivable factoring facilities to small and medium sized businesses nationwide.
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MidCap Business Credit Closes in a $12 Million Asset-based Credit Facility to EQ Holdings
June 27, 2023MidCap Business Credit announced today they have closed on an $12,000,000 asset-based credit facility to EQ Holdings, located in Golden Valley Minnesota. The new relationship and was sourced out of MidCap’s office in Dallas, TX.
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