- SFNet Outlines Next Steps on Proposed Basel III Bank Capital Rules
- Ares Raises Combined $5.4 Billion for U.S. and Europe Value-Add Real Estate Strategies
- BHI Provides $167 Million Construction Loan to Yellowstone to Convert 221 West 41st Street Into a 176 Unit Multifamily Building
- RelPro Named to Inc.’s List of Fastest-Growing Companies in the Northeast for Fifth Straight Year
- Tiger Infrastructure Partners Announces Transformational Growth Capital Investment in Orbis Protect, a Leading Provider of Critical Security Infrastructure Solutions
TSL Express Daily Articles & News
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Huntington Business Credit Closes a $175 Million new Credit Facility With Second Avenue Capital Partners, LLC
Huntington Business Credit acting as Administrative Agent, Bookrunner and Lead Arranger announced it closed a $175,000,000 new credit facility with Second Avenue Capital Partners, LLC on June 27, 2022. Proceeds of the facility were used to refinance existing indebtedness and provide ongoing growth financing.
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The Staged Return to Normal
We all want to return to normal, or the new normal, as quickly as possible. The question businesses and their stakeholders need to ask themselves is what does normal mean and how can the return be funded.
For most companies, their working capital has been depleted during the shutdown as they struggled to pay employees and keep vendors satisfied, while dealing with impacts to sales and accounts receivable.
TSL Express Daily Headlines & News
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Sheer Logistics Announces Growth Investment by Industry Veterans Eddie Leshin and Brian Winshall and Monroe Capital
October 10, 2022SheerTrans Solutions ("Sheer Logistics") announced today that it completed a debt and equity co-investment with industry veterans Eddie Leshin and Brian Winshall of Woodlawn Partners and Monroe Capital LLC. Woodlawn Partners and Monroe Capital partnered with Joe Egertson, the founder of Sheer Logistics, who has retained a significant ownership stake in the business and will continue as CEO.
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Regents Capital Closes $100.0 Million Bank Credit Facility
October 10, 2022Regents Capital Corporation (Regents), a leading provider of equipment leasing and financing solutions to middle-market borrowers, announced it has entered into a $100.0 million three-year revolving credit facility with Bank OZK (NASDAQ: OZK), a regional bank based in Little Rock, AR. The new facility includes an accordion of up to an additional $50 million and follows a successful $25.0 million investment-grade rated corporate note financing announced by the company in January 2022.
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Seacoast Completes Acquisitions Of Apollo Bancshares, Inc. and Drummond Banking Company
October 10, 2022Seacoast Banking Corporation of Florida, the holding company for Seacoast National Bank, announced today the completion of its acquisitions of Apollo Bancshares, Inc. (“Apollo”), parent company of Apollo Bank and of Drummond Banking Company (“Drummond”), parent company of Drummond Community Bank effective October 7, 2022. The mergers of Apollo Bank and Drummond Community Bank with and into Seacoast National Bank were also effective October 7, 2022 with Seacoast National Bank being the surviving financial institution.
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Senior Credit Officer Joins First Internet Bank’s SBA Team
October 10, 2022First Internet Bank announced today that David Bybee has joined its Small Business Administration (SBA) lending team as Vice President, Senior Credit Officer. In this role, he will oversee credit guidelines, underwriting and the credit approval process for the bank’s small business lending effort
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Enerflex Ltd. Announces Successful Placement of Committed Financing for Pending Acquisition of Exterran Corporation
October 10, 2022Upon closing, the committed financing for the pro forma business is expected to comprise of: A private offering (the "Offering") of U.S.$625 million aggregate principal amount of 9.00% senior secured notes due 2027 (the "Notes"); Commitments from a syndicate of financial institutions for a newly drawn U.S.$150 million three-year secured term loan credit facility, and as previously announced, a U.S.$700 million three-year secured revolving credit facility, which the Company expects to be drawn by approximately U.S.$227 million upon closing.
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Tradecycle Capital Delivers Two New Accounts Payable Finance Facilities in September
October 10, 2022Tradecycle Capital, an Indianapolis based trade finance provider, announced it funded two new revolving accounts payable funding facilities in September. The first, is a $3,000,000 limit to a privately owned manufacturer of bean bag furniture and pool float products. Tradecycle was introduced to the company by their senior lender to assist with foreign sourcing of product.
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Amendment of Short-Term Loan Facility into new Term Loan Facility With Oaktree
October 10, 2022Under the terms of such refinancing, the Company has partially repaid the outstanding amounts under the Short-Term Loan Facility and amended the facility into a new senior secured four year term loan facility provided by Oaktree in a principal amount of US$50 million (the “Term Loan”).
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Greenbox Capital, Alternative Lending's Rising Star, Refinances Credit Facility to Expand Operations
October 10, 2022Today Greenbox Capital, a leading fintech providing working capital solutions to small businesses, announced the expansion and restructuring of its credit facility. The facility's extremely favorable terms with a prominent commercial bank are a testament to the company's track record and stability in an uncertain economy.
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FirstSun Capital Bancorp Announces Expansion of Executive Leadership Team at Sunflower Bank, N.A.
October 10, 2022FirstSun Capital Bancorp (“FirstSun”) (OTCQX: FSUN) announces the expansion of the Sunflower Bank, N.A. (“Sunflower Bank”) Executive Leadership team to reflect Sunflower Bank’s commitment to ensure its management structure continues to support its geographic and business line investments.
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Brightwood Capital Advisors Leads Senior Secured Credit Facility to Support Orangewood Partners’ Acquisition of Barrington James
October 10, 2022Brightwood Capital Advisors (“Brightwood”), a leading private credit firm, announced that it acted as sole lead arranger and administrative agent to provide a senior secured credit facility in support of Orangewood Partners’ acquisition of Barrington James (“the Company”).
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Signature Bank Expands Into Nevada With Appointment of Bankers and Opening of Reno Private Client Banking Office
October 10, 2022Signature Bank (Nasdaq: SBNY), a New York-based full-service commercial bank, announced today further expansion of its West Coast presence with the appointment of veteran banking professionals and the opening of a new private client banking office in Reno, Nevada.
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Warby Parker Enters Into Credit Agreement to Provide for Revolving Credit Facility
October 10, 2022Warby Parker (NYSE: WRBY) announced via an SEC filing on Oct. 4 that on Sept. 30 Warby Parker, Inc. and Warby Parker Retail, Inc. have entered into a credit agreement with lenders which provides for a revolving credit facility with borrowing capacity up to $100 million at any time outstanding.
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Shorehill Forms Rigging Products Distribution Platform
October 10, 2022Shorehill Capital has formed Ascent Lifting as a new platform to acquire sister companies Advantage Sales & Supply and Susquehanna Wire Rope & Rigging. Both Advantage and Susquehanna are distributors and fabricators of lifting and rigging products including wire rope, chain, synthetic slings, cargo control, and rigging hardware.
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Gordon Brothers & TAGeX Brands Form Strategic Alliance to Support Food Service Industry
October 10, 2022Gordon Brothers, the global advisory, restructuring and investment firm, and TAGeX Brands, one of the nation’s largest liquidation resources for restaurants, food service operators, supermarkets and convenience stores, have formed a strategic alliance to provide comprehensive real estate and equipment services to support the food service industry, including the purchase of surplus equipment and real estate.
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Sallyport Commercial Finance Provides Oil and Gas Company with $1,750,000 in Capital
October 6, 2022Sallyport is delighted to announce $1,750,000 in accounts receivable finance for an oil and gas company in the US. The client was referred to Sallyport through an existing client in the energy services space who were more than happy to recommend our services. We secured the business through our clients’ strong connection with the prospect and their ongoing relationship with Sallyport EVP Emma Hart.
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BMO Supporting Communities Impacted by Hurricane Ian
October 6, 2022BMO today announced a donation of $100,000 to the American Red Cross to support affected communities following Hurricane Ian. The bank is also offering disaster relief options to support customers impacted by the events.
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ClearStream Increases Credit Facility to $50 Million
October 6, 2022ClearStream Energy Services Inc. (“ClearStream” or the “Company”) (TSX: CSM) today announced that it has amended its asset-based revolving credit facility (the “ABL Facility”) with The Toronto-Dominion Bank to increase the maximum borrowings available thereunder to $50 million.
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Pathlight Capital Serves as Documentation Agent on $400 Million Credit Facility to Beyond Finance, LLC
October 6, 2022Pathlight Capital LP ("Pathlight") announced it is serving as the Documentation Agent on a $400 million senior secured delayed-draw term loan facility ("DDTL") to Beyond Finance, LLC ("Beyond" or the "Company"), a provider of success fee-based debt resolution services. Comvest Credit Partners, a leading provider of flexible direct financing solutions to middle-market companies, served as Administrative Agent.
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Year-over-year U.S. Bankruptcy Filings Increase for Second Consecutive Month in September 2022
October 6, 2022Year-over-year U.S. bankruptcy filings increased seven percent across all chapters for the second consecutive month in September, according to data released today from Epiq's Bankruptcy Analytics platform.
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CIBC Announces Senior Executive Appointments
October 6, 2022CIBC (TSX: CM) (NYSE: CM) President and CEO Victor Dodig today announced senior leadership appointments to further the bank's client-focused strategy.
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