- Essex Capital Group Closes $2.75 Million Short-Term Bridge Facility
- Western Alliance Bank Names Kristen Hillenbrand Head of Treasury Management Sales
- FBT Gibbons Bolsters Commercial Finance Capabilities with Addition of New York Partner Leon Yel
- Solifi Appoints Kevin Smith as Chief Legal Officer to Strengthen Global Governance and Support Next Phase of Growth
- First Business Bank Funds $11.5 Million Factoring & Inventory Financing Facility For Food & Beverage Company’s Growth
TSL Express Daily Articles & News
To submit company news and press releases toTSL Express, email tslexpress@sfnet.com.
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Mountain Ridge Capital Announces New Executive Hires
Mountain Ridge Capital, an asset-based commercial finance company, announced the hiring of Bill Drmacich and Jay Fabian as Managing Directors of Business Development.
Drmacich, an industry veteran, is responsible for business in the Southeast market from Atlanta where he has been a member of the community for over 25 years. Prior to joining Mountain Ridge, Fabian was a Senior Originator with First Merchants Bank and during the 15 years before that, was a highly valued contributor at Stonegate Capital and Wells Fargo.
Drmacich, an industry veteran, is responsible for business in the Southeast market from Atlanta where he has been a member of the community for over 25 years. Prior to joining Mountain Ridge, Fabian was a Senior Originator with First Merchants Bank and during the 15 years before that, was a highly valued contributor at Stonegate Capital and Wells Fargo.
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Women Leaders Talk About Advancing in the Ranks
Secured Finance executives and an executive recruiter discuss how the industry can attract and retain more women.
TSL Express Daily Headlines & News
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Viva Capital Funding Closes $85.0 Million in Bank Credit Facilities
November 30, 2022Viva Capital Funding, LLC (“Viva”), a leading invoice factoring specialty finance company, today announced the closing of $85.0 million in two bank credit facilities; consisting of $45.0 million for factoring and $40.0 million for land banking. This transaction follows a successful $18.5 million investment-grade rated corporate note financing completed by the Company in June 2022.
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HYPERAMS Announces Upcoming Auction of Gerke Excavating, Inc. Assets
November 30, 2022HYPERAMS, LLC announced the December 15, 2022 live virtual online auction of surplus assets owned by Gerke Excavating, a leading provider of excavation, site grading, gravel crushing, and trucking services in western Wisconsin. The assets are located in Onalaska, Wisconsin and will be available for auction preview and inspection prior to the auction date on December 13 and 14 by appointment only. Event details can be viewed at https://www.hyperams.com/yellow-iron-auction-december-2022.
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TD Bank Invests $5 Million in Citizens Trust Bank, a Minority-owned Financial Institution Serving the Atlanta Region for Over 100 Years
November 30, 2022The Commercial Bank of TD Bank, America’s Most Convenient Bank®, announced today that it has made a $5 million equity investment in Citizens Trust Bank in Atlanta, Ga., to help expand opportunities for minority-owned businesses as it eyes further expansion into the region.
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TAB Bank Provides Commercial Truck Parts Distributor in Texas with a $5 Million Asset-Based Credit Facility
November 30, 2022TAB Bank is pleased to announce it has provided a commercial truck parts distributor in Texas with a $5 million asset-based credit facility. The new facility is extended through a multi-year agreement and will provide for the company’s ongoing working capital needs.
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Sallyport Tailors $2.5 Million Finance for Food and Beverage Manufacturer
November 30, 2022Sallyport is thrilled to announce a tailored finance package of $2,500,000 for a family-owned manufacturer of powdered coffees, cappuccino mixes and other specialty drinks. The funding comprises accounts receivable and inventory finance and a cash flow loan which will enable the client to cover their operational expenses as they expand the business both at home and abroad.
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Runway Growth Finance Corp. Commences Offering of Notes
November 30, 2022Oppenheimer & Co. Inc., UBS Securities LLC, B. Riley Securities, Inc. and Ladenburg Thalmann & Co. Inc. are acting as joint book-running managers of this offering. Compass Point Research & Trading, LLC, Janney Montgomery Scott LLC and Hovde Group, LLC are acting as co-managers of this offering.
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Focus Financial Partners Closes Credit Refinancing, Raising New Term Loan and Extending Maturities and Increasing Financial Flexibility
November 29, 2022Focus Financial Partners Inc. (NASDAQ:FOCS) ("Focus"), a leading partnership of independent, fiduciary wealth management firms, announced today that it has closed on its credit refinance and term loan raise. Focus raised a new $1,760 million First Lien Term Loan B ("Term Loan B") and a new $240 million First Lien Term Loan A ("Term Loan A"), which is available on a 9 month delayed draw basis.
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PRA Group Announces Refinancing of European Revolving Credit Facility
November 29, 2022PRA Group, Inc. (Nasdaq: PRAA), a global leader in acquiring and collecting nonperforming loans, announced today that on November 23, 2022, it completed the refinancing of its $750 million European revolving credit facility.
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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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