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- Haversine Funding Announces Recent Lender Finance Closings and Facility Expansions
TSL Express Daily Articles & News
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Cyxtera Closes Accounts Receivable Securitization Facility of $37.5 Million with PNC Bank, N.A.
Cyxtera (NASDAQ: CYXT), a global leader in data center colocation and interconnection services, today announced it has closed an accounts receivable securitization facility of $37.5 million with PNC Bank, N.A. The new facility provides increased availability and reduced interest expense compared to Cyxtera’s former accounts receivable factoring facility. The facility has a committed term of three years.
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SFNet Advocacy Alert: CFPB Section 1071 Rule Could Place Burden on Financial Institutions—ACTION REQUIRED
(Editor's Note: A member of SFNet’s Advocacy Committee, Brett Garver of Moritt Hock & Hamroff LLP, has provided this alert pertaining to CFPB Section 1071, which could prove to be unduly burdensome to the vast majority of small and mid-sized finance companies that provide credit to small businesses. If you have any questions or comments, please contact Michele Ocejo at mocejo@sfnet.com.)
TSL Express Daily Headlines & News
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Pathlight Capital Increases Term Loan Credit Facility for B. Riley Receivables II, LLC To $198.7MM
February 6, 2023Pathlight Capital LP ("Pathlight") is pleased to announce the closing of a $78.3MM upsize ("Upsize Facility") to the existing senior secured term loan credit facility to an SPV majority owned by a subsidiary of B. Riley Financial, Inc. to support an incremental purchase of a portfolio of performing receivables from W.S. Badcock Corporation ("Badcock" or the "Company"), one of the largest home-furnishing retailers in the country and subsidiary of Franchise Group, Inc (NASDAQ: FRG).
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Abacus Finance Provides $34.5 Million in Senior Debt Financing to Support the Leveraged Buyout of Media 1 Digital Imaging Solutions, LLC by American Pacific Group
February 6, 2023Abacus Finance Group, LLC – a leading provider of cash flow-based, classic senior debt for sponsor-led buyouts of lower middle-market companies – today announced that it served as Senior Secured Credit Facilities Administrative Agent and Lead Arranger for $34.5 million in senior secured credit facilities to support the leveraged buyout of Media 1 Digital Imaging Solutions, LLC by American Pacific Group.
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Bridge Bank’s Capital Finance Group Adds Three New Hires in Key Markets
February 6, 2023Bridge Bank today announced that its Capital Finance Group has added three new hires to support key markets. The new team members, based in Seattle, Chicago and Las Vegas, will serve Bridge Bank clients nationwide.
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FTI Consulting Appoints Michael Baumkirchner to Lead Esoteric ABS Offering
February 6, 2023FTI Consulting, Inc. (NYSE: FCN) today announced the appointment of Michael Baumkirchner as a Senior Managing Director to lead the Esoteric Asset-backed Securitization offering within the firm’s Lender Services practice. Mr. Baumkirchner, who is based in New York, rejoins FTI Consulting from Ankura Consulting Group and brings 25 years of experience providing financial and business advice to clients involved in capital markets transactions and corporate restructurings.
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Taseko Extends Term of Undrawn Revolving Credit Facility and Provides Update on Hedging Program
February 6, 2023Taseko Mines Limited (TSX: TKO) (NYSE American: TGB) (LSE: TKO) ("Taseko" or the "Company") is pleased to announce it has entered into an agreement to extend the maturity date of its US$50 million Revolving Credit Facility (the "Facility") by an additional year to July 2, 2026. The Facility, which is arranged and fully underwritten by National Bank of Canada ("National Bank"), is currently undrawn and available for general and working capital purposes.
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Mulligan Funding Closes $100 Million Securitization
February 6, 2023Mulligan Funding, one of the largest providers of SMB access to working capital in the country, today announced the closing of a $100 million asset-backed securitization (ABS). This new financing continues a history of impressive growth for the company, even during difficult market conditions. As Mulligan Funding’s first securitization, the senior bonds achieved an A rating from Kroll Bond Rating Agency (KBRA), the highest rating they will award a first-time issuer in this asset class. The facility has a 3-year revolving period and is expandable to $500 Million.
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Cushman & Wakefield Announces Amendment and Maturity Extension of $1.0 Billion of Its Senior Secured Term Loan
February 6, 2023Cushman & Wakefield (NYSE: CWK), a leading global real estate services firm, today announced an amendment to its current Credit Agreement that extends the maturity of $1.0 billion of its existing $2.6 billion Senior Secured Term Loan.
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J D Factors Announces Factoring Facilities
February 2, 2023J D Factors announced the following factoring facilities: $200,000 to a transportation company in Ontario; $250,000 to a transportation company in Florida; $750,000 to a transportation company in Pennsylvania; $500,000 to a transportation company in Ohio...
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Monroe Capital Supports PPC Enterprises, LLC’s Acquisition of EduStaff, LLC
February 2, 2023Monroe Capital LLC announced it acted as administrative agent and sole lead arranger on the funding of a senior credit facility to support the acquisition of EduStaff, LLC (“EduStaff”) by private equity sponsor PPC Enterprises, LLC.
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First Citizens Bank Serves as Lead Arranger on $65.7 Million in Financing for Development of Apartments in Washington State
February 2, 2023First Citizens Bank today announced that its Real Estate Finance group, part of the CIT division, served as lead arranger on $65.7 million in financing to MainStreet Property Group for the development of The Spark Apartments, a 211-unit, Class A multifamily project in Redmond, Washington.
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Comvest Credit Partners Announces Investment in The JG Wentworth Company
February 2, 2023Comvest Credit Partners (“Comvest”), a leading provider of flexible direct financing solutions to middle-market companies, is pleased to announce that it has acted as Administrative Agent on a $30 million senior secured credit facility (the “Financing”) to The JG Wentworth Company, LLC (“JG Wentworth,” or the “Company”), a leading provider of consumer financial services. The Financing was used to fund a strategic acquisition by the Company and provide capital for further business growth.
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Aruze Gaming America, Inc. Announces Plan for Financial Restructuring
February 2, 2023Aruze Gaming (Aruze), a leading developer of gambling entertainment solutions for the global casino market, today announced it has filed a voluntary petition under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the State of Nevada.
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Wolters Kluwer Enablon and Makersite Announce Strategic Collaboration to Help Enterprises Reach ESG Goals
February 2, 2023Manufacturing enterprises will more easily be able to progress toward achieving Net Zero and reaching their ESG (environmental, social, governance) goals, thanks to a new strategic collaboration between Wolters Kluwer Enablon and Makersite. The two industry leaders will help organizations manage Net Zero ambitions through decarbonizing supply chains. This involves data collection, modelling, reporting, planning, forecasting, and operational execution across all three Scopes of greenhouse gas (GHG) emissions.
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Abacus Finance Provides Senior Debt Financing to Support the Leveraged Buyout of Marshall & Stevens by Pine Tree Equity Partners
February 2, 2023Abacus Finance Group, LLC – a leading provider of cash flow-based, classic senior debt for sponsor-led buyouts of lower middle-market companies – today announced that it served as Senior Secured Credit Facilities Administrative Agent and Lead Arranger for senior secured credit facilities to support the leveraged buyout of Marshall & Stevens by Pine Tree Equity Partners.
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Cushman & Wakefield Announces Amendment and Maturity Extension of $1.0 Billion of Its Senior Secured Term Loan
February 2, 2023-Cushman & Wakefield (NYSE: CWK), a leading global real estate services firm, today announced an amendment to its current Credit Agreement that extends the maturity of $1.0 billion of its existing $2.6 billion Senior Secured Term Loan. The $1.0 billion of the Senior Secured Term Loan is extended from a maturity date of August 21, 2025 to January 31, 2030, and it will bear interest at a rate of Term SOFR plus an applicable spread adjustment plus 3.25% with a 0.50% Term SOFR floor.
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Carlyle Serves as Administrative Agent, Joint Lead Arranger and Bookrunner on the Senior Debt Financing of Apex Companies
February 2, 2023Global investment firm Carlyle (Nasdaq: CG) today announced that its Global Credit platform has provided senior debt financing in support of the acquisition of engineering consultancy Apex Companies LLC, managed by Morgan Stanley Capital Partners (“MSCP”).
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BMO Completes Acquisition of Bank of the West
February 2, 2023BMO Financial Group (TSX: BMO) (NYSE: BMO), and its subsidiaries BMO Financial Corp. and BMO Harris Bank N.A. (together, "BMO"), announced today it has completed the acquisition of Bank of the West from BNP Paribas (XPAR: BNP).
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Siena Lending Group LLC Increases its Senior Leverage Facility to $672.5 Million
February 1, 2023Siena Lending Group LLC ("Siena") today announced an increase to its senior credit facility with Wells Fargo Capital Finance to $672.5 million to support its continued growth. Siena is a leading independent asset based lending business, supporting middle market companies with credit facility requirements of $10 -$100MM. Siena operates nationwide throughout the U.S. and Canada and offers financing for healthcare companies through its Siena Healthcare division.
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Versant Funds $4.5 Million Non-Recourse Factoring Transaction to MedTech Company
February 1, 2023Versant Funding LLC is pleased to announce it has funded a $4.5 Million non-recourse factoring transaction to a MedTech company which provides services to major hospitals and pharmaceutical companies.
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InterNex Capital Announces $750,000 Line of Credit to Oil & Gas Company
February 1, 2023InterNex Capital provides $750,000 facility to an oil and gas servicing company based in Arkansas. The company sought a stable and consistent working capital partner to satisfy daily needs, improve cost of capital, and help plan for future high-tech investments to meet their growth plans.
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