- Seth Friedman of Abacus Finance Group Appointed to SBIA Board of Governors as Northeast Regional Chair
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- Sallyport Commercial Finance Provides $1 Million for Electronics Distributor for Expansion
- Errin Richardson Glasgow Named as new President of Nationwide Operations of Cascade Credit Services, LLC
TSL Express Daily Articles & News
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Natixis Corporate & Investment Banking Provides $140 Million Revolving Credit Facility to a Rialto Capital Management and YourStorageUnits JV
Natixis Corporate & Investment Banking announced today that it has provided a $140 million secured revolving credit facility to a JV between Rialto Capital Management and YourStorageUnits.
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Recently, People's United Bank, N.A., a subsidiary of People's United Financial, Inc., announced it had expanded its Commercial Specialty Business with the formation of a dedicated Lender Finance team. The Team is led by Patrick Lee, managing director, head of Lender Finance, and is an extension of the Bank's existing Asset-Based Lending group. The Team will work with non-bank lender finance companies nationally to provide tailored solutions of $10MM or more to help them achieve their near and long-term growth objectives.
Here, Patrick Lee discusses his background and new role.
TSL Express Daily Headlines & News
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ADC Therapeutics Announces $175 million Senior Secured Term Loan from Owl Rock and Oaktree and Settlement of Existing Senior Secured Convertible Notes
August 16, 2022ADC Therapeutics SA (NYSE: ADCT) today announced that it has completed a series of strategic transactions in which it entered into a new $175 million senior secured term loan with certain funds of Owl Rock, a division of Blue Owl Capital, Inc. (“Owl Rock”), and funds managed by Oaktree Capital Management, L.P. (“Oaktree”) with an upfront tranche of $120 million received upon closing today.
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Pro-Grade AV from Keslow Camera and The Camera Division Slated for Auction
August 16, 2022Tiger Group sets August 23 online auction which includes 350 lots of digital cameras, lenses, heads, filters, monitors, transmitters/receivers, memory/readers and gear accessories.
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Solifi Launches SaaS Pricing Solution
August 16, 2022Solifi™, a global fintech software partner for secured finance, announced the launch of its software-as-a-service (SaaS)-based lease and loan pricing solution for the U.S. equipment and automotive finance industries.
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Global M&A Network Honors Katten's Insolvency and Restructuring Team With Turnaround Atlas Awards
August 15, 2022Katten's Insolvency and Restructuring practice was honored three times during the Global M&A Network's presentation of the 14th Annual Turnaround Atlas Awards, which are a celebration of excellence among "the best value-creating transactions, outstanding firms, professionals and leaders from the global restructuring, insolvency, and distressed investing communities."
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Electric Entertainment Closes $100M Credit Facility With Bank Of America
August 15, 2022Dean Devlin’s Electric Entertainment has closed a five-year, $100-million loan credit facility with Bank of America to fund its expanding production slate that includes Leverage: Redemption, The Ark and Almost Paradise among others.
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Regis Corporation Successfully Renegotiates Debt
August 15, 2022Regis Corporation (NYSE: RGS), a leader in the haircare industry, announced today that it successfully amended its credit facility and extended the maturity date from March 23, 2023 to August 31, 2025. Under the amendment, the revolving credit facility was converted to a $180 million term loan and $55 million revolving credit facility with the minimum liquidity covenant reduced to $10 million from $75 million
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Diana Jackson Named as VP, National Business Development Officer in CIT Equipment Finance-Industrial Business
August 15, 2022CIT, a division of First Citizens Bank, today announced that Diana Jackson has joined its Equipment Finance-Industrial business as a vice president and national business development officer. In this role, Jackson will be responsible for developing and maintaining vendor programs with OEM’s and very large dealers in the construction, transportation, material handling and manufacturing sectors.
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Texas Capital Bank Appoints Vivek Misra to Serve as Chief Compliance Officer
August 15, 2022Texas Capital Bancshares, Inc. (NASDAQ: TCBI), the parent company of Texas Capital Bank (“the Bank”), today announced that Vivek Misra has been appointed to serve as Executive Vice President, Chief Compliance Officer, effective immediately.
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Quipt Home Medical Announces Commitment Letter for $80 Million of Senior Credit Facilities to Fund Future Growth
August 15, 2022Quipt Home Medical Corp. (“Quipt” or the “Company”) (NASDAQ:QIPT; TSXV:QIPT), a U.S. based leader in the home medical equipment industry, focused on end-to-end respiratory care, is very pleased to announce it has received a binding commitment letter from CIT Bank, N.A. (“CIT”), a division of First-Citizens Bank & Trust Company, that CIT will commit to provide 100% of the senior secured credit facilities in the aggregate amount of up to $80,000,000
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atai Life Sciences Secures Term Loan Facility for up to $175 Million from Hercules Capital
August 15, 2022atai Life Sciences N.V. (Nasdaq: ATAI) (“atai”), a clinical-stage biopharmaceutical company aiming to transform the treatment of mental health disorders, today announced that the company has entered into a term loan facility for up to $175 million with Hercules Capital, Inc. (NYSE: HTGC).
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SAS Shares Jump as Apollo Provides $700 Million Loan to Airline
August 15, 2022SAS AB shares jumped in Stockholm trading after the Scandinavian airline reached a key goal in its restructuring plan by obtaining a $700 million loan from U.S. private equity firm Apollo Global Management Inc.
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HYPERAMS, LLC Announces Completion of The Grommet E-Commerce Liquidation Sale
August 15, 2022HYPERAMS, LLC is pleased to announce the completion of the e-commerce liquidation sale of The Grommet. The liquidation, which was conducted entirely via the company’s website, was highly successful and generated significant cost recovery for the business’ ownership.
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King & Spalding Adds Financial Services Litigation Partner Jamie Dycus in New York
August 15, 2022King & Spalding announced today that partner Jamie Dycus has joined the firm’s Trial and Global Disputes practice group in the New York office. Dycus represents financial institutions and other commercial clients in a variety of complex litigation, regulatory and enforcement matters.
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The 2nd Version of Asset Based Lending Disciplines is Available
August 15, 2022The 2nd version of Don’s Clarke’s book, Asset Based Lending Disciplines, is available today. Donald Clarke is a world-renowned scholar and teacher on the disciplines of asset-based lending. This updated and well written book, covers all aspects of asset-based Lending and filled is with vital information that will help ABL professionals become efficient and effective in the ABL industry.
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Leading Company in the Circular Economy Refinances 125 Million Euros Credit Facility
August 15, 2022Against a background of higher raw material prices and delivery volumes, the Oryx Stainless Group is increasing its financial flexibility with a syndicated credit facility in the amount of 125 million Euros, replacing the existing facility at an early stage.
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MVB Financial Corp. Announces Merger with Integrated Financial Holdings
August 15, 2022MVB Financial Corp. (“MVB,” “MVB Financial”) (Nasdaq: MVBF), the holding company for MVB Bank, Inc. (“MVB Bank”), announced today that it has entered into a definitive merger agreement pursuant to which MVB will acquire Integrated Financial Holdings, Inc. (“IFH”) (OTCQX: IFHI) in an all-stock transaction. Stephens, Inc. served as financial advisor and Squire Patton Boggs (US) LLP served as legal advisor to MVB. Raymond James & Associates, Inc. served as financial advisor and Wyrick Robbins Yates & Ponton LLP served as legal advisor to IFH.
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Griffin Global Asset Management Signs Amendment, Extension and Upsizing of Warehouse Facility to $1.5 Billion of Capacity
August 15, 2022Griffin Global Asset Management DAC and Griffin Global Asset Management (Servicer) LLC (together, “Griffin”) announced today that on August 12, 2022 Palisade Aviation Holdings Warehouse, Ltd. and Palisade Aviation Holdings Warehouse, LLC (together, the “Borrowers”), signed an amendment, extension and upsizing transaction for its senior secured warehouse facility, which now has a committed amount of $1,500,000,0000 (the “Facility”).
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J D Factors Announces Factoring Facilities
August 15, 2022J D Factors announced it provided the following: $150,000 to a transportation company in Texas;$100,000 to a transportation company in Alberta; $250,000 to a transportation company in Ontario; $500,000 to a transportation company in Ohio; $200,000 to a transportation company in New Jersey
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Kian Capital Expands Senior Team With Addition Of Jordan Lee As Principal
August 15, 2022Kian Capital Partners (“Kian”), a middle-market focused private investment firm, announced today that Jordan Lee has joined the firm as a Principal to expand Kian’s capacity for making new investments and continue to grow its operations and origination capabilities.
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Amalgamated Bank Announces $15 Million Loan for Decarbonization and Climate Resilience Initiatives
August 15, 2022Amalgamated Bank, a subsidiary of Amalgamated Financial Corp. (NASDAQ: AMAL) and a mission-driven, full-service commercial bank that empowers organizations and individuals to advance positive social and environmental change, announced today a $15 million loan to Inclusive Prosperity Capital, Inc. (IPC), a clean energy finance 501(c)3 platform, making new capital available to fund climate initiatives benefiting underserved market segments and communities.
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