- i80 Group and Brim Partner to Offer Funding-as-a-Service With $300 Million Credit Facility
- SFNet Market Pulse
- Enova Announces Definitive Agreement to Acquire Grasshopper Bank
- SouthStar Capital Funds $250,000 Accounts Receivable Facility for Growing Telecommunications Company
- Origis Energy Closes $290 Million Financing for Swift Air Solar II and III Projects with Natixis CIB and Santander
TSL Express Daily Articles & News
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CIT Increases Maritime Financing to $57 Million for Crowley
CIT, a division of First Citizens Bank, today announced that its Maritime Finance business has recently increased its financing of Crowley, a leading global shipping and logistics company, to a total of $57 million as part of a larger credit facility. This financing applies to multiple Crowley vessels.
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Isn’t That What it Says? -- Potential Perils of Incorporation by Reference in Finance Transactions
Commercial lending transactions are memorialized with a comprehensive, and often voluminous, set of loan documentation. In an attempt to expedite closing, and reduce closing binder sizes, lenders (and their counsel) are always seeking ways to streamline the loan- documentation process.
TSL Express Daily Headlines & News
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Oaktree Completes Acquisition of Majority Interest in 17Capital
July 20, 2022Oaktree and 17Capital are pleased to announce the completion of Oaktree’s acquisition of a majority interest in 17Capital, as previously announced on March 9, 2022. 17Capital specializes in providing non-dilutive capital to high-quality private equity management companies, funds and institutional investors that are seeking to finance value creation and portfolio management initiatives.
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Wheaton Precious Metals Signs US$2 Billion Sustainability-Linked Revolving Credit Facility
July 20, 2022The Bank of Nova Scotia and Bank of Montreal acted as Joint Bookrunners and Co-Lead Arrangers of the revolving credit facility. Bank of Montreal and Royal Bank of Canada acted as Co-Lead Sustainability Structuring Agents and Coordinators, and The Bank of Nova Scotia and Canadian Imperial Bank of Commerce acted as Co-Sustainability Agents. Bank of America, The Toronto-Dominion Bank and Export Development Canada acted as lenders.
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Soundcore Expands Senior Leadership Team
July 20, 2022Soundcore Capital Partners, LP ("Soundcore"), a New York based private equity firm, is pleased to announce that Jonathan Tanenbaum has joined the firm as a Partner on its Investment Team.
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FirstBank Announces Multiple Leadership Appointments
July 20, 2022FirstBank, one of the nation’s largest privately held banks with a focus on “banking for good,” announced several leadership changes: Matt Cornwell, who previously served as President of the Northwest Market which includes Arvada and Wheat Ridge, was officially named President of the downtown Denver Market. Matthew Doyle, who previously served as President of Loan Review, is now President of Investments.
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Ruben Roy Joins Stifel as Managing Director and Equity Research Analyst Covering Applied Technology Sector
July 20, 2022Stifel Financial Corp. (NYSE: SF) today announced the hiring of Ruben Roy as a Managing Director and Equity Research Analyst covering the Applied Technology sector. He is based in the firm’s New York office.
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Paul Hastings Adds Band One Finance Team
July 20, 2022Paul Hastings LLP, a global law firm advising the world's leading financial institutions, asset managers and Fortune 500 corporations, announced today that one of the most elite Finance teams in the industry has joined the firm in London from Latham & Watkins. Mo Nurmohamed, Ross Anderson, Karan Chopra and Rob Davidson have all joined the firm as partners in Paul Hastings' prestigious Global Finance practice.
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SLR Healthcare ABL Provides Financing to a Pediatric Therapy Services Provider
July 20, 2022SLR Healthcare ABL is pleased to announce it has provided a $2,500,000 asset-based revolving line of credit to a pediatric therapy services provider in June 2022. SLR Healthcare ABL provides asset-based financing solutions to small and mid-size healthcare providers throughout the United States.
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TradeCap Partners Assists Outdoor Goods Startup with $450,000 Purchase Order Finance Facility
July 20, 2022TradeCap Partners recently closed a $450,000 purchase order finance facility for a Texas-based startup manufacturer and distributor of outdoor goods. TradeCap’s non-dilutive solution preserved 100% of the founders’ ownership and provided the flexible structure needed to complete transition of the business plan and rapidly scale.
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FTI Consulting Appoints Monish Paul as Senior Managing Director to Lead the Economic & Financial Consulting Practice in Western Australia
July 19, 2022FTI Consulting, Inc. (NYSE: FCN) today announced continued investment in its Economic Consulting segment in Australia with the appointment of Monish Paul as a Senior Managing Director. Mr. Paul, who is based in Perth, has more than 25 years of experience advising clients in business and regulatory economics, transaction advisory and business transformation. Over his career, he has held senior positions in global management consulting firms including IBM and Deloitte, with a focus on government and public policy, infrastructure, energy and financial services.
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Iron Horse Credit Provides a $1.5 Million Inventory Line of Credit to a Wholesale Distributor of Tile and Natural Stones
July 19, 2022Iron Horse Credit (“IHC”), a leading inventory lender, is pleased to announce the closing of a $1,500,000 stand-alone inventory revolving line of credit to a wholesale distributor of tile and natural stones. The company has a reputable name dating back over a century and offers a one-stop point for both domestic and imported products.
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Blackbuck Resources Announces Expansion of Sustainability-Linked Financing
July 19, 2022Blackbuck Resources LLC (“Blackbuck”), which designs, builds, and operates water infrastructure, announced it has expanded its sustainability-linked term loan with Riverstone Credit Partners LLC, a dedicated credit investment platform focused on energy, power, decarbonization, and infrastructure managed by Riverstone Holdings LLC (“Riverstone”).
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Crayhill Capital Management Provides $100mm Senior Secured Loan Facility to Fort Amsterdam Capital
July 19, 2022Crayhill Capital Management, a New York-based, minority-owned private credit manager focused on asset-based investments, announced today the close of a $100mm credit facility with Fort Amsterdam Capital, a New York-based, vertically-integrated real estate lender. The facility will be collateralized by both land and commercial real estate properties in the Northeast Corridor.
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Beach Point Capital Management Provides Financing for the Acquisition of 888 Holdings' Bingo Businesses by Saphalata Holdings
July 19, 2022Beach Point Capital Management announced it provided the debt financing for the acquisition of 888 Holdings' B2C and B2B bingo businesses by Saphalata Holdings, a member of the Broadway Gaming group, for $46 million.
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Stroock Adds Restructuring and Bankruptcy Group in New York
July 19, 2022Stroock is expanding its Restructuring and Bankruptcy practice with a team from Luskin, Stern & Eisler, a Chambers-ranked boutique firm focused on restructuring and bankruptcy. The attorneys will be based in Stroock's New York office.
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First Citizens Bank Completes Operational Conversion of OneWest Bank Division
July 19, 2022First Citizens Bank announced that its OneWest Bank division based in Southern California has completed its conversion to First Citizens’ operations and systems. This conversion integrates OneWest Bank customer accounts into First Citizens products and services.
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Mill Rock Packaging Acquires Impressions Incorporated
July 19, 2022Alvarez & Marsal and White & Case LLP advised Mill Rock Packaging on the transaction. FINNEA Group advised Impressions. BMO Sponsor Finance and PGIM Private Capital provided debt financing.
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David Shapiro Joins Vida Capital as a Managing Director
July 19, 2022Vida Capital, Inc. (“Vida”), a portfolio company of RedBird Capital Partners and Reverence Capital Partners, today announced that David Shapiro has joined the firm as Managing Director. Mr. Shapiro will be based in New York and report to David Gussmann, Senior Managing Director.
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Eagle Point Credit Management Hires Karan Chabba as Head of ABS, MBS, SRT and Specialty Finance
July 19, 2022Eagle Point Credit Management LLC (“Eagle Point”), a specialist asset manager focused on investing in CLO securities, portfolio debt securities and other credit investments, has appointed Karan Chabba as Head of ABS, MBS, SRT and Specialty Finance.
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Ducommun Incorporated Announces New Credit Facility
July 18, 2022Ducommun Incorporated (NYSE: DCO) (“Ducommun” or the “Company”) today announced that effective July 14, 2022, it entered into a new credit facility consisting of a $250 million term loan and a $200 million revolving line of credit to replace its existing debt structure. In connection with the transaction, the Company extinguished its existing $140 million term loan, its existing $100 million unused revolving line of credit, and its other existing $240 million term loan, which would have matured in December 2024, December 2024, and November 2025, respectively.
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Norton Rose Fulbright Appoints Yianni Cheilas as Head of Greece
July 18, 2022Global law firm Norton Rose Fulbright has appointed Yianni Cheilas, co-head of asset finance for Europe, Middle East and Asia (EMEA), to head up its Greek offices, with effect from August 1, 2022. Yianni will replace Dimitri Sofianopoulos, who has been with the firm for nearly 30 years. Dimitri will take on a role at Costamare group, but will continue with Norton Rose Fulbright as a senior consultant of the firm.
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