- Commercial Finance Partners Closes Five Factoring Facilities in Five Days
- FGI Appoints Victor Espinosa to Lead Brokerage Division
- Monroe Capital Supports Warburg Pincus’ Investment in Cornerstone Caregiving
- Fortress Investment Group Leads Senior Secured Credit Facility for H.I.G. Capital’s Acquisition of International Aerospace Coatings
- Bit Digital Originates Strategic Financing Facility Supporting WhiteFiber Growth Initiatives
TSL Express Daily Articles & News
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Fifth Third Business Capital Supports Precision Marshall with $43 Million Upsized Credit Facility for Acquisition of Kinetic Co., Inc.
Fifth Third Business Capital announced it has provided a $43 million capital expenditure facility, revolving credit facility and term loan for Kinetic in Greendale, WI. Kinetic was founded in 1948 and is recognized as one of the world's premiere manufacturers of industrial knives for the tissue, metals, plastic, wood and recycling industries and was recently acquired by Precision Marshall.
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SFNet’s recent Virtual International Lending Conference offered insight on the effects of the COVID-19 crisis from geopolitical risk consultant, David Chmiel, co-founder/managing director, Global Torchlight; Marc Finer, director, Debt Advisory Group, KMPG LLP; Scott Fuller, director, Valuations, Gordon Brothers; Richard Hawkins, CEO, AtlanticRMS and Robert Horak, managing director, Lincoln International. David Morse, partner, Otterbourg P.C. and Richard Kohn, principal, Goldberg Kohn Ltd. served as conference moderators.
TSL Express Daily Headlines & News
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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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Stonebriar Commercial Finance Closes a $75 Million Sale-Leaseback for Private Equity Backed Beverage Manufacturer
November 28, 2022Stonebriar Commercial Finance (“Stonebriar”) today announced the closing of a $75 million sale and leaseback of beverage production and packaging equipment for a market-leading co-manufacturer of high-growth beverages in the U.S. The lease proceeds will be used to support the lessee’s strategic investments in its various facilities and for general corporate purposes.
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LSQ Ramps Up Funding for Utilities Staffing Firm Working to Fully Restore Service After Hurricane Ian
November 28, 2022When Hurricane Ian hit Florida in late September, more than 2.5 million homes and businesses were without electricity throughout the state. Once the danger from the storm subsided, crews quickly got to work assessing the damage and planning restoration of power. One such company - based in Orlando - was the first on the scene in many parts of the state and its team realized that in order to get vital utilities restored quickly, they were going to need to ramp up quickly. That would require more people - and getting those people was going to take working capital.
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Windstream Announces New Term Loan and Revolver Extension
November 28, 2022Windstream Holdings II, LLC, (the “Company”) today announced the completion of a new $250 million Super Senior Incremental Term Loan as well as a refinancing of its existing revolver that will extend the revolver maturity to 2027 from 2024.
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Great Rock Capital Adds Senior Originator in New York Market
November 28, 2022Great Rock Capital, an asset-focused commercial finance company specializing in middle market lending, today announced Stephen Shelton has joined the firm as Managing Director of Originations. Stephen will be responsible for expanding the firm’s origination efforts throughout New York City and the surrounding area.
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Orange Signs an Agreement for a Sustainability-linked Refinancing of its €6bn Syndicated Credit Facility With 27 Banks
November 28, 2022Orange signed today with 27 international banks a new Sustainability-linked multi-currency EUR 6 billion syndicated revolving facility in order to refinance in advance the existing facility expiring December 2023. This Sustainability-linked refinancing reflects the Group's commitments in terms of environmental and social responsibility, as the margin is linked to the achievement of sustainability targets relating to CO2 emissions (Scopes 1 & 2, Scope 3), supporting its aim to become Net Zero Carbon by 2040, and gender diversity.
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New York Court of Appeals Sets Important Precedent for Secured Lenders
November 28, 2022As previously reported, in early 2022, the New York Court of Appeals granted the request of the Secured Finance Network (SFNet) to appear as amicus curiae in support of a secured lender’s appeal of problematic rulings issued in litigation between Worthy Lending, LLC and New Style Contractors, Inc. SFNet believed that the lower courts’ rulings were inconsistent with established commercial law and practice and, if allowed to stand, would operate to the detriment of secured lenders, borrowers and account debtors.
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Abacus Finance Provides Senior Debt Financing to Support the Leveraged Buyout of Pinnacle Clinical Research by LongueVue Capital
November 28, 2022Abacus Finance Group, LLC – a leading provider of cash flow-based, classic senior debt for sponsor-led buyouts of companies with $3 million to $15 million in EBITDA – today announced that it served as Senior Secured Credit Facilities Administrative Agent and Sole Lender for senior secured credit facilities to support the leveraged buyout of Pinnacle Clinical Research, LLC by LongueVue Capital. Additionally, Abacus made an equity co-investment in Pinnacle Clinical Research.
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Stradley Ronon’s Bill Sasso to Chair Pennsylvania Gov.-Elect Josh Shapiro’s Transition Leadership Board
November 28, 2022Longtime Stradley Ronon leader Chairman Emeritus Bill Sasso was selected as chair of Pennsylvania Gov.-Elect Josh Shapiro and Lieutenant Gov.-Elect Austin Davis’ Transition Leadership Board on Nov. 22. Bill will help lead the “diverse, dynamic, bipartisan group” to ensure a smooth transition from the Gov. Wolf Administration to the historic Shapiro-Davis Administration.
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Cushman & Wakefield Arranges $25M in Revolving Credit Facility For Epum Holdings
November 28, 2022Cushman & Wakefield announced today that the real estate services firm served as the exclusive advisor to Epum Holdings (“Epum”) in the structuring of a senior secured revolving credit facility with initial loan proceeds of $25 million and the ability to increase to $50 million over time. Epum currently owns five marinas, and the facility is meant to help Epum continue to grow their marina portfolio in the eastern United States.
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PayUp Announces Partnership with nFusion Capital
November 28, 2022Peter Rex, founder and Executive Chairman of Rex, announced that PayUp, a Rex company, has partnered with Austin-based nFusion Capital. PayUp is a technologized early payment solution for small and medium-sized businesses ensuring convenient and affordable access to capital. nFusion Capital is a private working capital finance company delivering customized financing solutions to small and medium-sized businesses.
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Balance Partners With Viola Credit to Power Merchants’ Ecommerce Growth
November 28, 2022-Balance, the leader in B2B payments specializing in financing and ecommerce, has announced a $350 million credit facility from Viola Credit to continue enabling B2B commerce and ease working capital. This announcement comes on the heels of Balance’s $56M in Series B financing round to help merchants and marketplaces scale ecommerce payments with instant financing and a B2B checkout.
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DXP Enterprises, Inc. Announces Raising an Incremental $105M In Term Loan B Borrowings
November 28, 2022-DXP Enterprises, Inc. (NASDAQ: DXPE) today announced that it has closed on raising incremental $105 million Senior Secured Term Loan B (“TLB”) borrowings that will be added to the initial $330 million Term Loan B raised in December of 2020. Including the new borrowings, DXP will have $417.2 million in Senior Secured Term Loan B borrowings.
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CIBC Innovation Banking Provides $25 Million in Debt Financing to Podimetrics, Inc.
November 28, 2022CIBC Innovation Banking is pleased to announce a $25 million debt financing for Massachusetts-based Podimetrics Inc. ("Podimetrics"), an integrated clinical care service company that helps prevent amputations in patients suffering from complex diabetes. Podimetrics plans to use the growth capital to expand its commercial operations.
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Liberty Commercial Rebrands To Wingspire Equipment Finance
November 22, 2022Liberty Commercial Finance LLC has changed its name to Wingspire Equipment Finance LLC, adopted a new logo, and redesigned its website as it integrates with parent company Wingspire Capital Holdings LLC. Earlier this year, Wingspire Capital acquired majority ownership of Liberty to gain a fast-growing direct originations platform with nationwide reach providing equipment finance solutions to middle-market companies.
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Fordham Athletics Partners With Moritt Hock & Hamroff LLP For NIL Matters
November 22, 2022Fordham University director of athletics Ed Kull announced today a partnership with Moritt Hock & Hamroff LLP to advise the Rams with Name, Image, and likeness (NIL) matters for their student-athletes.
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Ocean Bank Closes $5 Million Factoring Facility to Hispanic Food Distributor
November 22, 2022Ocean Bank announced its Factoring Division funded a $5 million factoring facility to a rapidly growing Importer and distributor of Hispanic food brand products to companies nationwide.
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Charles River Associates (CRA) Expands Its Financial Markets Practice
November 22, 2022Charles River Associates (NASDAQ: CRAI), a worldwide leader in providing economic, financial and management consulting services, today announced that Ozgur B. Kan has joined CRA’s Financial Markets Practice as a vice president in the Company’s New York office.
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FTI Consulting Launches Corporate Finance & Restructuring Segment in Québec with Appointment of Restructuring Expert Martin Franco
November 22, 2022FTI Consulting, Inc. (NYSE: FCN) today announced the launch of the firm’s Corporate Finance & Restructuring segment in Québec with the appointment of restructuring expert Martin Franco as a Senior Managing Director in Montréal. The addition of the Corporate Finance & Restructuring segment in Québec expands the firm’s existing capabilities in the market, which include forensic and litigation consulting services.
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