- Southstar Capital Delivers $750,000 Factoring Facility for North Carolina Telecommunications Infrastructure Contractor
- Establishment Labs® Refinances Credit Facility
- Asset-Based Lending & Factoring Surveys
- Finance Veteran Amity Mercado Launches Countify Capital to Bridge Liquidity Gaps for Underserved Businesses
- Market Sizing Study
TSL Express Daily Articles & News
To submit company news and press releases toTSL Express, email tslexpress@sfnet.com.
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Wells Fargo Commercial Banking Names Tanner Phifer to Lead Middle Market Asset-Based Lending Origination for West Region
Wells Fargo Commercial Banking, part of Wells Fargo & Company (NYSE: WFC), announced that Tanner Phifer will lead Middle Market Asset-Based Lending (ABL) origination for the West region, which is part of the bank’s secured lending and leasing businesses. The Middle Market ABL originations team is closely aligned with divisions across the bank to support the demand of asset-based lending, specialty lending and equipment finance solutions to the middle market segment.
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PPE Funding Roundtable
Four executives from SFNet member companies discuss their experience in adapting to the surge of funding requests for personal protection equipment (PPE). TSL Express sat down with Jeff Goldrich, president and CEO, North Mill Capital; Edward King, founder and managing partner King Trade Capital; Paul Schuldiner, executive vice president and purchase order finance division manager, Rosenthal & Rosenthal; and Scott Winicour, CEO, Gibraltar Business Capital to learn more.
TSL Express Daily Headlines & News
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Callon Petroleum Announces Extension of Revolving Credit Facility
October 24, 2022Callon Petroleum Company (NYSE: CPE) ("Callon" or the "Company") today announced that the Company entered into an amended and restated senior secured revolving credit facility (the "Credit Facility"), which extends the maturity to October 19, 2027. The Credit Facility will have a borrowing base of $2.0 billion with an elected commitment of $1.5 billion.
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National Survey Finds Nearly 75% of U.S. Businesses Have Been Affected by the Labor Shortage
October 24, 2022Provident Bank, a leading New Jersey-based financial institution, has released the results of its 2022 National Labor/Staffing Shortage Survey. The survey includes insights from 1,000 hiring managers and department heads, small business owners, recruitment and talent acquisition specialists, and compensation and/or business managers, and explores how businesses are dealing with the effects of the labor shortage.
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Mubadala and KKR Enter into a Strategic Partnership to Invest in Private Credit in Asia Pacific
October 24, 2022KKR, a leading global investment firm, and Mubadala Investment Company (“Mubadala”), a global sovereign investor, today announced the signing of a Strategic Partnership (the “Partnership”) that will see the two firms co-investing across performing private credit opportunities in the Asia Pacific (“APAC”) region.
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Brightwood Capital Advisors and PhenixFIN Lead Financing to Support CCP Capital Strategies’ Acquisition of Wireless Maritime Services
October 24, 2022Brightwood Capital Advisors (“Brightwood”), a leading private credit firm, and PhenixFIN Corporation (“PhenixFIN”), a publicly traded business development company, announced today that they have provided debt and equity financing to support CCP Capital Strategies’ (“CCP”) acquisition of 100 percent of Wireless Maritime Services, LLC (“WMS”) stock from AT&T and Anuvu.
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Ares Management Closes Oversubscribed $7.1 Billion Second Special Opportunities Fund
October 24, 2022Ares Management Corporation (NYSE: ARES) (“Ares”), a leading global alternative investment manager, announced today the final closing of its Ares Special Opportunities Fund II, L.P. (together with Ares Special Opportunities Fund II (Jersey), L.P. and each of their parallel vehicles, “ASOF II”). With strong global investor support, ASOF II closed at its hard cap with $7.1 billion of commitments, including General Partner commitments, which far surpassed its $4.0 billion target.
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Gateway Trade Funding Provides a $1,000,000 Purchase Order Facility to a Food and Beverage Company
October 24, 2022A food and beverage company had large orders from big box retailers they needed to fill. They had been working with a factoring company but needed additional working capital to fulfill the orders. The factoring company recommended reaching out to Gateway Trade Funding to see if purchase order funding could work with their existing financing and fill the funding gap.
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Great Rock Capital Upsizes Credit Facility With Wincup
October 24, 2022Great Rock Capital, an asset-focused commercial finance company specializing in middle market lending, today announced the upsizing of their senior secured credit facility with WinCup, Inc., a leading manufacturer of traditional and sustainable disposable foodservice to-go ware, including phade® PHA straws. WinCup is a portfolio company of Atar Capital.
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Fifth Third Bank Provides Kitchen Cabinet Designers, LLC With a New $35,000,000 Asset Based Lending Senior Credit Facility to Support its Growth Strategy
October 24, 2022Kitchen Cabinet Designers, LLC, dba Kitchen Cabinet Distributors, was founded in 2007 and imports and distributes kitchen & bathroom cabinets and accessories throughout the US with regional locations in Raleigh, NC; Orlando, FL; Houston, TX; and Reno, NV.
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GoDaddy Inc. Announces Refinance of Tranche B-2 Term Loans and Revolving Credit Facility
October 24, 2022GoDaddy Inc. (NYSE: GDDY) today announced Go Daddy Operating Company, LLC and GD Finance Co, LLC (together with Go Daddy Operating Company, LLC, the "Borrowers") allocated (i) a $1,770 million tranche of term loans maturing in 2029 (the "Replacement Term Loans"), the proceeds of which will be used to refinance all outstanding Tranche B-2 Term Loans under the Second Amended and Restated Credit Agreement, dated as of February 15, 2017.
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BMO Commercial Bank Announces Executive Appointments in Quebec
October 24, 2022René Douville has been appointed Special Advisor to the Heads of BMO Commercial Bank, Canada. Mr. Douville's appointment follows seven years as Head of Corporate Finance in Quebec and a successful track-record overseeing the growth of BMO Commercial Bank in the province. In his new role, Mr. Douville will continue to work closely with our BMO Capital Markets' partners and Private Wealth's heads of family-run businesses. The appointment is effective November 1st.
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Sound Point Capital Provides Financing to Centric Brands
October 24, 2022Sound Point Capital Management (“Sound Point”) is pleased to announce that it provided an Accounts Receivable Facility for Centric Brands (“Centric” or the “Company”), a leading global lifestyle brand collective that designs, sources and markets branded products in the apparel, accessories, beauty and entertainment categories. The transaction refinances and upsizes a similar facility that was previously held by Sound Point.
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Houlihan Lokey Strengthens European Healthcare Team With Experienced Senior Hire Rainer Hepberger Joins as a Managing Director
October 24, 2022Houlihan Lokey (NYSE:HLI), the global investment bank, announced today that Rainer Hepberger has joined the firm as a Managing Director in its European Healthcare team. He will be based in the firm’s London office.
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Capital on Tap Gets $110M Credit Facility to Build Central Finance Hub
October 20, 2022Global FinTech Capital on Tap has secured a $110 million corporate revolving credit facility and said it will use the funding to build a central finance hub that will help small businesses in the United States and the United Kingdom manage all aspects of their business finances.
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Oxford Finance Provides $124.75 Million Credit Facility for the Acquisition of Four Autumn Lake Healthcare Skilled Nursing Facilities in Maryland
October 20, 2022Oxford Finance LLC (“Oxford”), a leading specialty finance firm providing senior debt to healthcare services and life sciences companies worldwide, today announced the closing of a $124.75 million senior credit facility for the acquisition of four Autumn Lake Healthcare Skilled Nursing Facilities (“Autumn Lake” or “the Company”) located in Maryland containing 520 licensed beds.
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Insmed Announces Strategic Financings Totaling $775 Million
October 20, 2022Insmed has entered into a $350 million senior secured term loan agreement with funds managed by Pharmakon Advisors, LP, a leading investor in non-dilutive debt for the life sciences industry and the investment manager of the BioPharma Credit funds (the "Term Loan"). The five-year Term Loan matures in October 2027. The Term Loan bears interest at a rate based upon the secured overnight financing rate (SOFR), subject to a SOFR floor of 2.5%, in addition to a margin of 7.75% per annum.
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Flexport Capital Secures $200 Million Credit Facility from KKR
October 20, 2022Flexport Capital, the trade financing arm of Flexport, today announced it has secured a credit facility of up to $200 million from separate insurance accounts managed by KKR, a leading global investment firm. The credit facility will allow Flexport Capital to continue to build an industry-leading financing product within the Flexport Platform, and to further invest in client growth and geographic expansion.
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Castlelake Aviation Lending Completes Two Transactions Totaling $100 Million
October 20, 2022Castlelake, L.P. ("Castlelake"), a global alternative investment firm with approximately 17 years of experience investing in, financing and managing aviation assets, today announced that it has deployed $100 million through two ne transactions in its Aviation Lending Program.
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SR Alternative Credit, LLC Completes a $10 Million Senior Secured Financing for a Shipping Container Owner-Lessor
October 20, 2022SR Alternative Credit, LLC (“SRAC”), formerly Old Hill Partners, today announced a deal that provided $10 million in the form of a senior secured one-year term loan to a company that acquires and leases standard 20- and 40-foot shipping containers, among other transportation equipment.
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Victory Park Capital Announces $100 Million Credit Facility for Consumer Payments Platform Nelo
October 20, 2022Victory Park Capital (“VPC”), a leading global alternative investment firm specializing in private credit, today announced it has provided a $100 million credit facility to Nelo, a consumer payments platform for online purchases in Mexico.
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MidWestOne Names Charles N. Reeves as New CEO
October 20, 2022MidWestOne Financial Group, Inc. (Nasdaq: MOFG), parent company of MidWestOne Bank, today announced that its Board of Directors has named Charles (Chip) N. Reeves, 54, as its new Chief Executive Officer (CEO), effective November 1, 2022. Reeves succeeds Charlie Funk, who is retiring following a successful 22-year career with the organization.
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