- Pivot Energy Secures Over $225 Million from Three Existing Lenders to Advance Community Solar Projects
- Republic Business Credit Supports Growth of Emerging Footwear Manufacturer with a $750,000 Factoring Facility
- Restoring Bankability: How a $4MM CRE Line of Credit from Flatbay Capital Protected a Century of Service
- HyperAMS Announces Enterprise Coated Products Inc. Acquired by Loparex, a Strategic Private-Equity-Owned Company
- B. Riley Securities Strengthens Investment Banking Leadership with Senior Hire
TSL Express Daily Articles & News
To submit company news and press releases toTSL Express, email tslexpress@sfnet.com.
Today's Top Story
Featured
Cannara Biotech Inc. Closes $50 Million Credit Facility Led by BMO Commercial Banking
Cannara Biotech Inc. ("Cannara" or the "Company") (TSXV: LOVE) (OTCQB: LOVFF) (FRA: 8CB), a vertically integrated producer of premium-grade cannabis and derivative products with two mega facilities based in Quebec spanning over 1,650,000 sq. ft., announced today that it has closed on a $50M credit facility led by BMO Commercial Banking. The credit facility, effective May 31, 2022, includes a three-year term loan for $45 million with an accordion for up to an additional $10 million and a $5 million line of credit.
TSL Express Trending Story
Featured
U.S. Completes Ratification Process for U.N. Receivables Convention
In a previous issue of TSL Express, we noted that, on January 2, 2019, the United States Senate gave its advice and consent to the United Nations Convention to the United Nations Assignment of Receivables in International Trade. At the time, we noted that all that remained to complete the ratification process was for the White House to authorize the deposit of the Convention with the United Nations Treaty Office. We are pleased to report that this step has finally occurred, 16 years after the Convention was signed by the United States. The SFNet is proud to have played a role in the drafting of the Convention and its adoption
TSL Express Daily Headlines & News
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Tradewind Finance Closes Credit Facility Structured in USD and Euro for Indian Chemicals Company
July 7, 2022Tradewind Finance announced today it has funded a rapidly-growing chemicals company based in India that manufactures solutions and dyes intended for a variety of applications, including pharmaceuticals, food processing, and personal care products. The funding is being used for working capital purposes, including the purchase of raw materials.
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Assembled Brands Announces the Hiring of Clifford Davis II
July 7, 2022Assembled Brands continues its growth hiring and is pleased to announce that Clifford Davis II has joined its team as an ABL Portfolio Analyst in Los Angeles, CA. In this role, Davis is responsible for portfolio management, operational and collateral compliance, monitoring as well as reporting.
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King & Spalding Adds Corporate Partner Kathleen Blaszak in Northern Virginia
July 7, 2022King & Spalding announced today that Kathleen “Katie” Blaszak has joined the firm as a partner in the Corporate, Finance and Investments (CFI) Practice Group. She is based in the firm’s Northern Virginia office.
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Helix Energy Solutions Announces Completion of Acquisition of Alliance and Amendment to its ABL Facility
July 7, 2022Helix Energy Solutions Group, Inc. (“Helix”) (NYSE: HLX) announced today its successful completion of the previously announced acquisition of all of the equity interests of the Alliance group of companies (collectively “Alliance”), expanding its decommissioning presence in the Gulf of Mexico shelf and advancing Helix’s environmental, social and governance (“ESG”) initiatives by responsibly supporting end-of-life requirements of oil and gas projects. Bank of America, N.A. serves as Administrative Agent for the ABL facility.
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Leading Restructuring Partner Steve Hessler Joins Sidley as Global Practice Leader
July 7, 2022idley Austin LLP is pleased to welcome Stephen E. Hessler as the global practice leader of the Restructuring group. He will be based in the New York office and joins after almost two decades at Kirkland & Ellis LLP, where he led some of the most significant chapter 11 cases in history — including, most recently, Frontier Communications and Windstream Holdings.
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FTI Consulting Strengthens Corporate Finance & Restructuring Segment with Appointment of Senior Managing Director Martin Wong
July 7, 2022FTI Consulting, Inc. (NYSE: FCN) today announced its continued investment in its Corporate Finance & Restructuring segment in Asia with the appointment of Martin Wong as a Senior Managing Director. Based in Singapore, Mr. Wong brings over 24 years of experience in rehabilitative corporate restructuring and insolvency administration involving judicial management appointments, schemes of arrangement, receiverships, and voluntary and court liquidation.
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Pivotal Capital Secures $55 Million in Funding Facilities
July 7, 2022Axis Auto Finance Inc. (“Axis” or the “Company”) (TSX: AXIS), a fintech lender servicing the alternative auto finance market, announced today that its wholly owned subsidiary, Pivotal Capital Corp. (“Pivotal”) has secured an additional Funding Facility (the “Facility”) with Mitsubishi HC Capital Canada, Inc. (“MHCCA”).
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Wells Fargo Names Otis Rolley as Head of Social Impact
July 7, 2022Wells Fargo & Company (NYSE: WFC) announced today that Otis Rolley is joining the company as head of Social Impact, leading community engagement and enterprise philanthropy, including the Wells Fargo Foundation. Rolley will report to Bill Daley, vice chairman of Public Affairs, effective August 1.
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Commercial Chapter 11 Filings Increase 29 Percent in June from Last Year, Total Filings Decrease Slightly
July 7, 2022The 447 commercial chapter 11 filings in June represented a 29 percent increase from the 347 filings in June 2021, according to data provided by Epiq Bankruptcy, the leading provider of U.S. bankruptcy filing data. Overall commercial filings decreased 7 percent in June 2022, as the 1,864 filings were down from the 1,999 commercial filings registered in June 2021.
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RefleXion Announces Closing of $125M Debt Facility for Expanding Cancer Treatment
July 7, 2022RefleXion Medical, a therapeutic oncology company pioneering the use of biology-guided radiotherapy (BgRT)* for all stages of cancer, today announced the closing of a $125M debt facility, of which $55M is available immediately to repay the company’s existing $50M of debt.
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Bank of America Names Brian King President of Maine
July 7, 2022Bank of America has named Brian King president of Bank of America Maine. King succeeds Bill Williamson, who held the position for 10 years and has announced his decision to retire next year after more than 40 years with the company. As president, King will be responsible for connecting the banking and investment resources offered through the bank’s eight lines of business to people and companies across Maine.
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Customized Business Support: Regions Bank Announces Commercial Corporate Finance Team
July 7, 2022Regions Bank on Wednesday formally announced the establishment and continued business growth of a Commercial Corporate Finance (CCF) team that is connecting business leaders with specialized resources, insights, and guidance on opportunities including ownership transitions, financing alternatives, and risk management. The team is led by Coulter Warlick, who joined Regions in 2021 to develop and launch this team.
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Gordon Brothers Acquires Unused Accommodation Barge Robyn S from Vanguard Shipping Limited for Immediate Sale
July 7, 2022Gordon Brothers, the global advisory, restructuring and investment firm, has acquired the Robyn S accommodation barge from Vanguard Shipping Limited. The firm is managing the disposition of Robyn S, which is available for immediate sale to the international marine, shipping and offshore markets.
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Wintrust Receivables Finance Announces the closing of a new $4,500,000 Line of Credit for a Fast-growing Managed Transportation Company
July 7, 2022Wintrust Receivables Finance (WRF) is happy to announce the closing of a new $4,500,000 account receivable line of credit for a fast growing Managed Transportation Company. The east coast based firm specializes in managing the in-bound and out-bound freight for a number of middle market manufactures, and distributers around the country.
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NFI Provides Update on its Credit Facilities Amendment Discussions and Timing
July 6, 2022(TSX: NFI, OTC: NFYEF, TSX: NFI.DB) NFI Group Inc. (“NFI” or the “Company”), a leading independent bus and coach manufacturer and a leader in electric mass mobility solutions, today provided an update on discussions with its banking partners regarding amendments to the Company’s credit facilities.
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Columbia Bank Expands Business Lending Division Into Utah With Key Leadership Hires
July 6, 2022Columbia Bank, the wholly owned subsidiary of Columbia Banking System, Inc. (NASDAQ: COLB) ("Columbia"), today announced the expansion of its Business Lending Division into Utah with the hires of veteran Salt Lake City-area bankers Jeffrey Thomas and James Divver.
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Swift Lending Expands With A $30mm Senior Credit Facility Provided By Encina Lender Finance
July 6, 2022Swift Lending (“Swift”), a national private commercial real estate lender,today announced plans to expand its lending efforts through a senior credit facility provided by Encina Lender Finance. Swift provides bridge loans to qualified real estate investors active in the residential real estate marketplace.
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Cambridge Savings Bank Supports the Construction of Lovell Arena with $20 Million Participation Loan
July 6, 2022Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and more than $5 billion in assets, today announced that its Corporate Banking team led the financing for the ground-up construction of Lovell Arena with a $20 million participation loan as part of the $30 million project.
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NAC Closes $7.88 Million USDA Business & Industry Loan to RCA Trade Center in Oahu, Hawaii
July 6, 2022On the north shore of Oahu, Hawaii, RCA Trade Center provides essential infrastructure to agricultural players in Hawaii. Its industrial storage and warehouse buildings give growers and distributors of local and imported goods the space they need to feed the residents and tourists on the island of Oahu.
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Huntington Business Credit Closes $63,200,000 in New Credit Facilities with Ardisam, Inc.
July 5, 2022Huntington Business Credit announced it closed $63,200,000 in new credit facilities with Ardisam, Inc. on June 22, 2022. Proceeds of the facility were used to refinance existing indebtedness and provide ongoing working capital growth financing.
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