- OceanFirst Financial Corp. and Flushing Financial Corporation Announce Receipt of the Requisite Shareholder Approvals for Pending Merger Transaction
- Top California Lender Closes $7.8 Million in Acquisition Loans Across Denver and Austin
- Bed Bath & Beyond, Inc. Signs Definitive Agreements to Bring The Container Store, Elfa, and Closet Works Into its Everything Home Ecosystem
- TradeCap Partners Provides $4 Million Purchase Order Funding Facility to Support Growth for Northeast Industrial Parts and Materials Distributor
- TSL Feature Articles
TSL Express Daily Articles & News
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Huntington Business Credit Closes Credit Facility with Spirit Pharmaceuticals, LLC
Huntington Business Credit announced it closed a $20,000,000 new credit facility with Spirit Pharmaceuticals, LLC on July 6, 2022. Spirit Pharmaceuticals, LLC, headquartered in Ronkonkoma, New York, is a packager and wholesaler of private label over the counter (“OTC”) pharmaceutical products.
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The “New Normal” Roundtable
What challenges have industry executives been up against since the pandemic hit and what kind of future do they envision for the industry? TSL spoke with several SFNet members: Jason Hoefler, managing director/asset-based lending, BMO Harris Bank; Candice Hubert, senior vice president of business development, Republic Business Credit; Mark Polinsky, executive vice president and co-founder of Gateway Trade Funding; Georgia Quenby, partner, Morgan Lewis & Bockius; Stuart Rosenthal of Prestige Capital; and Dan Tortoriello, executive vice president/chief operating officer of North Mill Capital.
TSL Express Daily Headlines & News
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Blue Bird Corporation Announces Amendment and Extension of Credit Facility
November 29, 2022Blue Bird Corporation (NASDAQ: BLBD), the leader in electric and cleaner-emission school buses, announced that it entered into a sixth amendment to its credit facility, dated as of December 12, 2016, extending the maturity date through December 31, 2024.
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The Interface Financial Group Has Provided $37,000,000 of Digital Supply Chain Finance to Group of Suppliers in Multiple Countries
November 29, 2022The Interface Financial Group (“IFG”) announced the funding of a $37,000,000 digital supply chain finance for a group of suppliers in multiple countries. The digital early payments program provided by IFG helps suppliers to address the pressure of the current economic environment.
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Greenbacker Closes new $150 Million Senior Secured Sustainability Revolving Credit Facility
November 29, 2022Greenbacker Renewable Energy Company LLC (“GREC” or “Greenbacker”), a leading climate-focused investment manager and independent power producer, today announced that it completed the closing of a new $150.0 million senior secured sustainability revolving credit facility. The closing of the credit facility reaffirms Greenbacker’s position among renewable energy companies as a well-capitalized owner and operator with access to capital through market cycles.
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Norton Rose Fulbright Adds to Highly Regarded Energy Practice With Transactions Partner in Houston
November 29, 2022Global law firm Norton Rose Fulbright today announced that energy transactions lawyer McCaleb “Mac” Marshall has joined its highly regarded energy, infrastructure and resources practice as a partner in Houston. Joining from Porter Hedges, Marshall represents energy clients in connection with onshore, offshore, upstream and midstream projects located in the US and around the world. He has particular experience in acquisitions and divestitures, joint ventures, exploration and development projects, gas storage agreements, oil and gas transportation and marketing agreements as well as service and drilling contracts.
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Tiger Finance Provides $20 Million Credit Facility to Pilot Wave E-Commerce
November 29, 2022Tiger Finance, LLC and Pilot Wave E-Commerce Holdings, LLC (PWE) have closed on a flexible, $20 million credit facility — providing working capital to support PWE’s data-driven approach to acquiring, operating, and scaling ecommerce businesses.
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Huntington Business Credit Closes new Credit Facility with Leader Global Solutions, LLC
November 29, 2022Huntington Business Credit acting as Administrative Agent, Bookrunner and Lead Arranger announced it closed a $150,000,000 new credit facility with Leader Global Solutions, LLC on September 23, 2022. Leader Global Solutions, LLC, headquartered in Coral Gables, Florida, provides trade finance solutions to companies predominantly in Central and South America.
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LBC Credit Partners Supports the Acquisition of Machinery Services Corp. and Rapid Pump & Meter Services Co., Inc.
November 29, 2022LBC Credit Partners (“LBC”), one of the leading providers of financing solutions to middle market companies, provided senior secured credit facilities to Hidden Harbor Capital Partners (“Hidden Harbor”) to support the acquisition of Machinery Services Corp. and Rapid Pump & Meter Services Co., Inc. (“MSC&RPM”). LBC served as Agent and Sole Lead Arranger for the senior secured credit facilities.
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Centerspace Expands Capacity with $100 Million Term Loan
November 29, 2022Centerspace (NYSE: CSR) announced that on November 22, 2022, it closed on a $100 million term loan with PNC Bank as administrative agent. The loan currently bears interest at a floating rate of 1.20% to 1.75% over the Secured Overnight Financing Rate, or SOFR, based upon Centerspace's leverage ratio and is for a term of one year with a one-year extension option. Proceeds from the term loan will be used to repay a portion of the balance on Centerspace's existing credit facility.
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Safra New York Corporation To Acquire Delta National Bank and Trust
November 29, 2022Safra New York Corporation, the parent company of Safra National Bank of New York, announced that it has entered into a definitive agreement to acquire Delta North Bankcorp and its subsidiary, Delta National Bank and Trust ("Delta"). Delta provides private banking and wealth management services to high net-worth clients through its offices in New York and Miami.
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Regions Bank Launches Multi-Assets Solutions Group, Combining Investment Research Strengths of Regions and Highland Associates
November 29, 2022Regions Bank on Monday announced the launch of its Multi-Assets Solutions Group, the result of combining the bank’s Investment Research Group with the research team from Regions subsidiary Highland Associates.
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Express, Inc. Announces Refinancing Transactions
November 29, 2022Fashion apparel retailer Express, Inc. (NYSE: EXPR) today announced two transactions in support of a comprehensive plan to refinance its capital structure and expand its liquidity access while concurrently reducing interest rate exposure and providing flexibility to pay down its outstanding term debt balance.
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HSBC Agrees to Sell Its Business in Canada to Royal Bank of Canada
November 29, 2022RBC will acquire 100% of the issued common equity of HSBC Canada for a base cash consideration of CA$13.5bn (US$10.1bn1). In addition, RBC will acquire all the preferred shares and the outstanding subordinated debt issued by HSBC Canada and held by the HSBC Group for approximately CA$1.1bn (US$0.8bn) and CA$1.0bn (US$0.7bn), respectively. The Transaction is expected to complete in late 2023.
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Consolidated Communications Announces Extension of Revolving Credit Facility
November 28, 2022Consolidated Communications Holdings, Inc. (Nasdaq: CNSL) (the “Company”) announced the next step in positioning the Company to continue to execute on its Fiber-to-the-Premise (“FttP”) expansion plan to upgrade 1.6 million locations by the end of 2025. Consolidated has extended the maturity of its $250 million revolving credit facility (the “Revolver”) by two years from 2025 to 2027, subject to springing maturity, and enhanced its financial flexibility under the Revolver.
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OTC Global Holdings (OTCGH) Secures $55 Million Loan to Fuel Strategic Growth
November 28, 2022OTCGH intends to use the proceeds to fuel its strategic acquisitions roadmap and continue to recruit top brokerage talent. "We are very excited about our markets and the prospect of opportunity that the partnership with H.I.G. Whitehorse offers for us to continue to innovate in every commodity market around the world," added Joe Kelly, President and Co-CEO of OTC Global Holdings.
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1st Source Announces Two Promotions with an Eye on the Future
November 28, 2022Effective December 1, 2022, Andrea G. Short, President of 1st Source Bank will also become its CEO. Christopher J. Murphy III will remain Chairman, President and CEO of 1st Source Corporation and Chairman of 1st Source Bank. In her new role, Ms. Short will have Personal Banking, Business Banking, Specialty Finance, Wealth Advisory Services, Credit, and the Operations functions of the Bank reporting up through her. She remains an Executive Vice President of 1st Source Corporation.
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Fifth Third Bank Provides a New $25 Million Asset Based Lending Revolving Credit Facility to Support the Acquisition of Capital Pump & Equipment, LLC
November 28, 2022On August 31, 2022, Harkness Capital Partners ("HCP"), a New York-based private equity firm focused on investments in leading service-oriented companies, completed an investment in Capital Pump & Equipment ("CPE"), a specialty pump rental and services platform based in Chandler, Arizona. HCP brings deep operating experience in specialty rental and in partnering with management teams in support of business building and growth initiatives. Fifth Third Bank provided a new Revolving Credit Facility to assist in facilitating the investment and to provide funding going forward to support CPE's growth strategy and build-out of new branch locations.
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HBT Financial, Inc. Announces Executive Officer Transition Plans
November 28, 2022HBT Financial, Inc. (NASDAQ: HBT) (the “Company” or “HBT”), the holding company for Heartland Bank and Trust Company (“Heartland Bank”), today announced that Patrick F. Busch, Executive Vice President and Chief Lending Officer of the Company and President and Chief Lending Officer of Heartland Bank, will step down from these roles on December 31, 2022.
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BMO the Top Ranked Financial Institution on New Global Sustainability Benchmark Announced at COP 27
November 28, 2022BMO has been recognized as the world's top ranked financial institution by the World Benchmarking Alliance's new global benchmark (WBA) for helping make progress in support of a just and sustainable economy. The WBA noted BMO's strong performance across all three measurement areas, noting it is one of the few financial institutions that has set targets for both environmental and social impact of its financing activities and tracks progress against them.
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National Capital Bancorp, Inc. Announces Richard B. (Randy) Anderson, Jr. to Retire
November 28, 2022National Capital Bancorp, Inc. (the “Company”) announced today that Richard B. (Randy) Anderson, Jr. has decided to retire as Chief Executive Officer of its subsidiary, The National Capital Bank of Washington (the “Bank”) on December 31, 2022 after a distinguished 47-year career including the last seven years with the Bank. Mr. Anderson will continue to serve as President and Chief Executive Officer of the Company and a director of the Bank.
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J D Factors Announces Factoring Facilities
November 28, 2022J D Factors announced it has provided the following factoring facilities: $200,000 to a transportation company in Illinois; $300,000 to a transportation company in Delaware; $150,000 to a transportation company in Texas; $400,000 to a transportation company in California.
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