- Eagle Point Holds Final Close on its Defensive Income Fund III, Exceeding its Original Hard Cap
- MUFG Announces Participation in Refinancing of $3 Billion Capital Structure for Atlas Renewable Energy
- Haynes Boone Names Charlie Harris Charlotte Office Managing Partner
- Equify Business Funding Provides $5,000,000 ABL Facility Refinance to Gulf Coast Power Systems Manufacturer
- Market Sizing & Impact Study 2023
TSL Express Daily Articles & News
To submit company news and press releases toTSL Express, email tslexpress@sfnet.com.
Today's Top Story
Featured
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.
TSL Express Trending Story
Featured
Will the Coronavirus impact your borrowers?
Do not underestimate the impact of the Coronavirus on a company’s Q1 and Q2 2020 financial results. The supply chain issues are unknown, the potential economic slowdown is unknown, and the length of time the impact will be felt is unknown.
This will certainly be a standard excuse for performance weakness that will be heard over the next year. Be prepared!
As a lender, which borrowers do you consider for impact, and what do you do to stay ahead of the problem?
TSL Express Daily Headlines & News
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J D Factors Announces Factoring Facilities
October 31, 2022J D Factors announced it has provided the following factoring facilities: $120,000 to a transportation company in New Jersey; $100,000 to a transportation company in Kentucky; $100,000 to a transportation company in Ontario; $1,000,000 to a transportation company in Illinois.
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BHI Provides $42.5 Million Financing For TL Management
October 31, 2022BHI, a full-service commercial bank, announced that it has closed on a $42.5 million term loan for TL Management, a company that owns skilled nursing facilities across the country.
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Comvest Credit Partners Announces $400 Million Credit Facility for Beyond Finance
October 27, 2022-- Comvest Credit Partners (“Comvest”), a leading provider of flexible direct financing solutions to middle-market companies, is pleased to announce that it has acted as Administrative Agent on a $400 million senior secured credit facility (the “Financing”) to Beyond Finance (the “Company”), a Houston-based provider of success fee-based debt resolution services that has been part of Comvest’s Direct Lending portfolio since 2019.
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Gordon Brothers Completes Armstrong Flooring Purchase
October 27, 2022Gordon Brothers, the global advisory, restructuring and investment firm, has completed the purchase of a substantial portion of Armstrong Flooring Inc.’s assets. Gordon Brothers purchased a majority of the flooring products manufacturer’s existing inventory and partnered with Vion Investments to purchase the accounts receivable to effect the wind down of the business and operations that did not move forward.
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TD Bank Names Gregory Carlisle Commercial Market President for South / Coastal New Jersey
October 27, 2022TD Bank, America's Most Convenient Bank®, announced it has appointed Gregory Carlisle as its Commercial Market President for South Jersey/Coastal New Jersey. He succeeds Robert Curley III, following his move to Regional President of the Pennsylvania and New Jersey Metro.
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Modiv Announces Expanded $400 Million Credit Facility
October 27, 2022Modiv Inc. (“Modiv” or the “Company”) (NYSE:MDV), an internally managed real estate investment trust (“REIT”) that acquires, owns, and manages a diversified portfolio of single-tenant net-lease real estate properties, announced that it successfully exercised the accordion feature of its Credit Facility on October 21, 2022. The Credit Facility was increased to $400 million and is now comprised of a $150 million revolving credit facility (the “Revolver”) and a $250 million term loan (the “Term Loan”) (together, the “Credit Facility”).
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RumbleOn Announces Used Powersports Inventory Financing Credit Facility Agreement with J.P. Morgan
October 27, 2022RumbleOn, Inc. (NASDAQ: RMBL), the nation’s first technology-based omnichannel powersports platform, today announced that it has entered into a $75 million used powersports inventory financing credit facility with J.P. Morgan. The inventory financing facility supports RumbleOn’s strategy of providing customers a robust choice of powersports vehicles, and an unmatched buying experience both online and in retail locations.
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Montage Capital Grows Its Investment Team
October 27, 2022Montage Capital is excited to announce the appointment of Samantha Kim as Principal. She joins Founder and Managing Director Mike Rose, Managing Director Eric Gonzales, and Principal Chet Kasper as the fourth member of the Montage investment team.
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KKR to Acquire Ness Digital Engineering
October 27, 2022RBC Capital Markets is acting as exclusive financial advisor, and Stradley Ronon Stevens & Young, LLP is serving as legal advisor to Pacific Life. Ballard Spahr LLP, TJC Law Group LLP and Ropes & Gray LLP are legal counsel to Aristotle for the transaction.
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Aristotle Expands Credit Offerings with Acquisition of Pacific Asset Management from Pacific Life
October 27, 2022RBC Capital Markets is acting as exclusive financial advisor, and Stradley Ronon Stevens & Young, LLP is serving as legal advisor to Pacific Life. Ballard Spahr LLP, TJC Law Group LLP and Ropes & Gray LLP are legal counsel to Aristotle for the transaction.
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Packable Software Platform and Related IP Available for Sale
October 27, 2022Hilco Streambank presents the opportunity to acquire the intangible assets of Packable Holdings, LLC (“Packable” or “Pharmapacks”) including its software platform utilized to sell products on Amazon, Walmart and other third-party marketplaces. Packable is a leading, technology-driven eCommerce marketplace enablement platform providing consumer brands, distributors and digitally native brands with the connections, insights and services needed to enable and accelerate sales growth across multiple online marketplaces simultaneously.
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Better Choice Announces Extension and Upsize of Current Revolving Credit Facility to $13.5M, Eliminating All Quarterly Amortization Payments and Extending Maturity to October 2024
October 26, 2022Better Choice Company Inc. (NYSE American: BTTR) (the “Company” or “Better Choice”), a pet health and wellness company, today announced that it has successfully extended and upsized the Company’s existing credit facility to $13.5M with Wintrust Financial Corporation (“Wintrust”), a leading commercial bank headquartered in Chicago, Illinois.
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Siena Lending Group Announces The Closing Of A $45 Million Credit Facility For Gladiator Energy LLC
October 26, 2022Siena Lending Group LLC ("Siena") announces the completion of a $45 million asset-based revolving line of credit for Gladiator Energy LLC (“Gladiator”). The facility was provided to repay existing debt and to support the company’s growth initiatives. Based out of Houston, Texas, Gladiator provides coil tubing and ancillary services to large, well -known oil and gas customers operating in the Permian, Eagle Ford, Haynesville, and Marcellus basins throughout the US.
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eCapital Asset Based Lending CEO Jennifer Palmer Named President of Secured Finance Network
October 26, 2022eCapital Corp. ("eCapital" or "the Company"), a leading finance provider for businesses across North America and the U.K., is pleased to share the appointment of Jennifer Palmer, CEO of eCapital Asset Based Lending, to President of the Secured Finance Network (SFNet), a leading industry organization for companies and professionals who deliver and enable secured financing to businesses.
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TAB Bank Provides Beverage Company in Canada with a $5 Million Asset-Based Credit Facility
October 26, 2022TAB Bank is pleased to announce it has provided a beverage company based in British Columbia, Canada with a $5 million asset-based credit facility. The new facility is extended through a multi-year agreement and will provide for the company’s ongoing working capital needs. In addition, the new facility from TAB Bank allows the company to move away from a smaller community bank and meet aggressive growth targets.
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Main Street Announces New Portfolio Investment Invests $34.3 Million in Elgin Industries, Inc.
October 26, 2022Main Street Capital Corporation (NYSE: MAIN) ("Main Street") is pleased to announce that it recently completed a new portfolio investment to facilitate the recapitalization of Elgin Industries, Inc. ("Elgin" or the "Company"), a fully integrated supplier of engine and chassis components to original equipment manufacturers and the aftermarket.
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Steve McWilliams Promoted to Executive Vice President, Chief Lending Officer at Republic Bank
October 26, 2022Republic First Bancorp, Inc. (NASDAQ: FRBK), the parent company of Republic Bank, promotes Steve McWilliams to Executive Vice President, Chief Lending Officer. Mr. McWilliams has spent over 30 years in the banking industry, previously serving as Republic Bank’s Market President for Philadelphia Metro for the last two years and 12 years as a Senior Lender.
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Ares Capital Corporation Appoints Kort Schnabel as Co-President and Michael Smith Joins Board of Directors
October 26, 2022Ares Capital Corporation (“Ares Capital”) (NASDAQ: ARCC) announced today that Kort Schnabel was appointed as Co-President. Concurrently, Michael Smith stepped down as Co-President and has been appointed to the Ares Capital Board of Directors. Mr. Smith will continue to serve as a member of the Investment Committee of Ares Capital’s investment manager. Mitchell Goldstein will continue in his role as Co-President of Ares Capital alongside Mr. Schnabel.
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Federal Signal Announces New $800 Million Credit Facility
October 25, 2022The syndication of the new facility was completed with Wells Fargo Securities, LLC, PNC Capital Markets LLC and Truist Securities, Inc. acting as Joint Lead Arrangers and Joint Bookrunners, PNC Bank, National Association and Truist Bank as Syndication Agents, and JPMorgan Chase Bank, N.A. and The Toronto Dominion Bank, New York Branch as Documentation Agents. Wells Fargo Bank, National Association, will serve as Administrative Agent, Swingline Lender and Issuing Lender.
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Hamilton Grant Announces Rebranding and Expanded Services
October 25, 2022Hamilton Grant LLC, an SEC-registered broker/dealer and member FINRA / SIPC, has enhanced its solutions, completed a corporate rebranding and expanded its team. The firm’s new website at hamiltongrant.com includes a secure, interactive client portal to facilitate efficient communication with its affiliates.
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