- HawkEye 360 Enters Into $125 Million Revolving Credit Facility
- SouthStar Capital Provides $1.5MM Hybrid ABL Facility to Support Equipment Leasing Platform Expansion
- Commercial Finance Partners Closes Five Factoring Facilities in Five Days
- Fortress Investment Group Leads Senior Secured Credit Facility for H.I.G. Capital’s Acquisition of International Aerospace Coatings
- Vistina Strengthens Structured Credit and Ratings Advisory Platform with Appointment of Jeanine Arnold
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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Recalibration of the Asset Footprint Focusing on International Platforms in Bankruptcy or Insolvency
Cross-border loan workouts and enforcement of security interests across multiple jurisdictions is a complex matter and greatly depends on the venue of the insolvency and the location of the collateral. These factors are also intertwined with the overall reach of the credit facility. A deep understanding of the multiplicity of issues that may arise during a workout or insolvency can not only enhance a lender’s ability to be made whole in an enforcement scenario, but can also create opportunity for liquidity providers to expand their geographic offerings and create unique value for their global borrowers.
TSL Express Daily Headlines & News
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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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Sound Point Capital and LBC Credit Management Support the Acquisition of Unirac, Inc.
October 20, 2022Sound Point Capital Management, LP (“Sound Point”) and LBC Credit Management, L.P. (“LBC”), two of the leading providers of financing solutions to middle market companies, provided a $180 million senior secured credit facility to Greenbelt Capital Partners (“Greenbelt”) to support the acquisition of Unirac, Inc. LBC served as Agent and Lead Arranger for the senior secured credit facility. Sound Point served as Co-Lead Arranger.
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Monroe Capital Supports NationsBenefits’ Acquisition of DeliverLean
October 20, 2022Monroe Capital LLC announced it acted as sole lead arranger and administrative agent on the funding of a senior credit facility to support NationsBenefits’ acquisition of DeliverLean by private equity sponsors General Atlantic, The Pritzker Organization, and Denali Capital LLC.
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nFusion Capital Releases Q3 Results
October 20, 2022nFusion Capital provided 39 new factoring, inventory finance, and asset based lending facilities during the third quarter of 2022 for an aggregate of $14 million, and $102 million in receivables purchased.
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TD Bank Finances $18 Million to Support YMCA of Delaware
October 19, 2022TD Bank, America’s Most Convenient Bank®, announced today that it provided a $18 million, tax-exempt loan to YMCA of Delaware for the construction of a new facility in Middletown. The loan was completed by Matthew Barnes, TD Bank Relationship Manager, and Lisa Kirkwood, Regional Vice President of Delaware, TD Bank.
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Summit Investment Management Welcomes Catie Vuksich to the Team
October 19, 2022Catie Vuksich joins Summit as a director based in Denver, CO. Her responsibilities include deal sourcing, underwriting, and asset management. Prior to Summit, Catie spent eleven years at Wells Fargo primarily as a member of the Credit Resolution Group focused on distressed credits.
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