- News Detail
- Advantage Business Capital Acquires $22MM Factoring Portfolio
- Top California Lender Closes $7.8 Million in Acquisition Loans Across Denver and Austin
- United Capital Funding Issues $15.45MM in Total Credit Facilities in Q1 2026
- CIBC Innovation Banking Provides Growth Capital to REG Technologies
TSL Express Daily Articles & News
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Great Rock Capital Names Chief Commercial Officer
Great Rock Capital is pleased to announce the promotion of Jim Clifton to Chief Commercial Officer. Jim will be based in Chicago and is responsible for expanding the firm’s origination efforts and strategic relationships across North America.
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Recalibration of the Asset Footprint Focusing on International Platforms in Bankruptcy or Insolvency
Cross-border loan workouts and enforcement of security interests across multiple jurisdictions is a complex matter and greatly depends on the venue of the insolvency and the location of the collateral. These factors are also intertwined with the overall reach of the credit facility. A deep understanding of the multiplicity of issues that may arise during a workout or insolvency can not only enhance a lender’s ability to be made whole in an enforcement scenario, but can also create opportunity for liquidity providers to expand their geographic offerings and create unique value for their global borrowers.
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TD Bank Finances $18 Million to Support YMCA of Delaware
October 17, 2022TD Bank, America’s Most Convenient Bank®, announced today that it provided a $18 million, tax-exempt loan to YMCA of Delaware for the construction of a new facility in Middletown. The loan was completed by Matthew Barnes, TD Bank Relationship Manager, and Lisa Kirkwood, Regional Vice President of Delaware, TD Bank.
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Avid Technology Announces Amended Credit Facility Which Provides Incremental Flexibility to Support its Strategy and Growth Plans
October 17, 2022Avid® (NASDAQ: AVID), a leading technology provider that powers the media and entertainment industry, today announced that it has entered into an amended secured credit facility with JPMorgan Chase Bank, N.A. and a syndicate of banks, including $186.7 million in senior secured term loans and a $120 million unfunded revolving line of credit.
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Astra Secures $10 Million in Series A Funding with a $30 Million Line of Credit
October 17, 2022Astra, a leading provider of instant card-to-card funding as a service in the U.S., today announced a $10 million Series A funding round led by FPV Ventures, with participation from Slow Ventures and Allegis Capital, as well as a $30 million line of credit through CoVenture to support the company’s rapid expansion in the payments industry.
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H.I.G. Capital Completes Sale of Salary.com
October 17, 2022H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with over $50 billion of equity capital under management, is pleased to announce the sale of its portfolio company Salary.com (the “Company”) to Accel-KKR. Terms of the transaction were not disclosed.
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Capital One Bank Closes $2.1 Billion Senior Secured Asset-Based Revolving Credit Facility for EquipmentShare
October 17, 2022Capital One announced today that it has served as administrative agent for an amended and restated credit facility for EquipmentShare, a nationwide construction solutions provider. EquipmentShare will use the facility, which increased its borrowing capacity from $1.2 billion to $2.1 billion, to expand its footprint and finance further growth of the company. The revolver has a $1.0 billion accordion option.
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Clifford Chance Advises BlackRock on $150 Million Financing
October 17, 2022Leading international law firm Clifford Chance has advised BlackRock in connection with a US$150 million term loan facility for Puttshack, a tech-infused mini golf entertainment venue. The proceeds of the loan will support Puttshack's rapid growth strategy in the United States as it continues to open venues in cities across the country.
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SPECTRUM Commercial Services adds Ryan Baker to Sales Team
October 13, 2022SPECTRUM Commercial Services adds new Vice President, Ryan Baker, to its team of business development officers. Ryan joins SPECTRUM Commercial Services Company (spectrumcommercial.com), bringing well over a decade of aligning lending solutions for clients in the finance and legal industry. His track record of success working with commercial lenders, consultants and business owners make him an excellent fit for SPECTRUM’s sales role in Minneapolis and surrounding markets.
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Maxim Commercial Capital Expanded Truck Financing Program in Q3 2022
October 13, 2022Maxim Commercial Capital (“Maxim”) expanded its target market with positive results during the third quarter of 2022. The direct lender launched an enhanced risk-based scoring system for its Truck Financing Program, resulting in lower down payments for owner operators with better credit. Buyers with sufficient real estate equity or other excess collateral may qualify for 100% purchase financing under Maxim’s Structured Finance Program.
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First Citizens Middle Market Banking Names James Ligman as Managing Director
October 13, 2022First Citizens Bank today announced that James Ligman has joined as a managing director in its Middle Market Banking business to lead expansion efforts in the Orange County and Inland Empire regions. In this role, Ligman will be responsible for developing, maintaining and expanding client and prospect relationships throughout the middle market financing sector. Based in Newport Beach, he will report to Brendan Chambers, who leads First Citizens Middle Market Banking.
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Winston Represents MacLean Power Systems in Majority Investment from Centerbridge Partners
October 13, 2022Winston & Strawn advised MacLean Power Systems (“MPS”), a subsidiary of MacLean-Fogg Company (“MacLean-Fogg”) and a leading manufacturer of products for transmission, distribution, substation, and communications infrastructure, with respect to a majority investment from Centerbridge Partners, L.P.
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United Capital Funding Provides $10 Million Facility, AR Management in Q3 2022
October 13, 2022United Capital Funding Group LLC, a Florida-based factoring firm completed 12 transactions totaling $10 million in accounts receivable financing in Q3 of 2022. The firm is a wholly owned subsidiary of Gulf Coast Bank & Trust Company, an FDIC-insured bank based in New Orleans, Louisiana.
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First Citizens Middle Market Banking Provides $19 Million for Truckee-Tahoe Lumber
October 13, 2022First Citizens Bank today announced that its Middle Market Banking business provided $19 million in financing to Truckee-Tahoe Lumber Company to provide support for their expanding business operations. Headquartered in Reno, Nevada, Truckee-Tahoe Lumber (TTL) is a family owned and operated business that supplies lumber, building materials, custom doors, cabinets, and hardware from six locations in Northern California and Nevada.
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Comwest Credit Partners Offers New $100MM Credit Facility for Ojos Locos
October 13, 2022Comvest Credit Partners Acted as administrative agent and sole lender in providing a new $100 million senior secured loan facility to Ojos Locos, LLC, a Dallas-based restaurant chain operator in Comwest’s direct lending portfolio. The financing will be used to support Ojos Locos’ working capital and development needs. Comwest also made an equity co-investment in the company.
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BWXT Closes Amended and Restated Credit Agreement
October 13, 2022BWX Technologies, Inc. (NYSE: BWXT) announced today that it has closed on an amended and restated credit agreement with Wells Fargo Bank, N.A. and other lenders that increases the company’s liquidity while improving a number of key terms for BWXT.
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Utz Brands, Inc. Issues Real Estate Senior Secured Term Loan
October 13, 2022Utz Brands, Inc. (NYSE: UTZ) (“Utz” or the "Company"), a leading U.S. manufacturer of branded salty snacks, announced today that the Company’s subsidiaries Utz Quality Foods, LLC (“UQF”), Kennedy Endeavors, LLC (“Kennedy”) and Condor Snack Foods, LLC (together with UQF and Kennedy, the “Borrowers”) have entered into a new real estate senior secured term loan in the original aggregate principal amount of $88.14 million (the “Real Estate Term Loan”) with City National Bank, as administrative agent (“CNB”) and each lender from time to time party thereto (the “Lenders”).
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Ridgefield Partners Announces Launch of Middle-Market M&A Advisory Practice
October 13, 2022Veteran private equity fund manager Richard Waryn has joined forces with transportation and logistics entrepreneur Todd Harman and M&A specialist Michael Seeley to form Ridgefield Partners LLC, a top-tier mergers & acquisitions and strategic advisory firm serving the middle-market.
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Aequum Capital Provides $6MM Asset-Based Revolver to Industry Leading Home Goods Distributor
October 13, 2022Aequum Capital is pleased to announce it recently closed a $6,000,000 credit facility to a Midwest based industry-leading designer, marketer, and distributor of home goods and sleep environment products. These are sold through multiple national retailers and a vast network of e-commerce channels.
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TD Bank Names Steve Boyle Chief Operating Officer
October 13, 2022TD Bank, America's Most Convenient Bank®, today announced that Steve Boyle has been named Chief Operating Officer, a newly created position reporting to Leo Salom, President and CEO. Boyle will be responsible for scaling the bank’s operations to support its growth priorities, continuing the transformation of its data and analytics function, and ensuring the successful integration of First Horizon – following regulatory approval of TD's definitive agreement to acquire the bank announced earlier this year.
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Wings Capital Partners LLC Announces New Financing Activity
October 12, 2022Wings Capital Partners LLC (“Wings”) announced the closing of an unsecured corporate revolving credit facility provided by City National Bank. In addition, Wings recently completed the refinancing of four aircraft in a $76m secured loan facility. The term facility was due to mature early next year and Wings proactively refinanced the vehicle using its existing warehouse loan facility.
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CIT Closes $50 Million Factoring Facility with Consumer Technology Firm
October 12, 2022CIT Commercial Services, a subsidiary of First Citizens Bank, today announced that it has completed a $50 million factoring facility with a West Coast consumer technology firm. CIT worked closely with the client to create a unique factoring arrangement to provide the technology designer and producer with additional flexibility in meeting its working capital needs.
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