- Donald Cosenza, CLFP Joins Maxim Commercial Capital as SVP, Business Development
- BHI Provides $20 Million Capital Call Line to Triangle Capital Group
- HyperAMS Announces Enterprise Coated Products Inc. Acquired by Loparex, a Strategic Private-Equity-Owned Company
- SouthStar Capital Provides $5 Million Accounts Receivable Financing Facility for a Growing Commercial Construction Company
- TSL Feature Articles
TSL Express Daily Articles & News
To submit company news and press releases toTSL Express, email tslexpress@sfnet.com.
Today's Top Story
Featured
CIBC Innovation Banking Announces $35M Growth Capital Financing for Impartner
CIBC Innovation Banking is pleased to announce $35 million of growth capital financing to Salt Lake City-based Impartner Inc. (“Impartner”), a leading partner relationship management (PRM) platform. Impartner plans to use the financing to increase its investments across sales & marketing, go-to-market strategy, and research & development to further accelerate its growth momentum.
TSL Express Trending Story
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LIBOR (or the London Inter-bank Offered Rate), the most widely utilized reference rate for financial transactions in the world, will cease to be quoted at the end of 2021. A mind-boggling $200 trillion in LIBOR-based financing contracts were outstanding in 2018. Although the impending demise of LIBOR has been predicted for many years following the well-documented LIBOR price-fixing scandal that shook the banking industry, the reality of LIBOR’s demise has gone from a distant theoretical concept to a present and pressing issue for those in all areas of the finance industry.
TSL Express Daily Headlines & News
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J D Factors Announces Factoring Facilities
June 17, 2022J D Factors announced it has provided the following factoring facilities: $50,000 a transportation company in New Jersey; $100,000 to a transportation company in Ontario; $125,000 to a transportation company in North Carolina; $100,000 to a transportation company in Alberta.
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FTI Consulting Launches Corporate Finance & Restructuring Segment in Italy with Four Business Transformation and Restructuring Experts
June 16, 2022TI Consulting, Inc. (NYSE: FCN) today announced the launch of the firm’s Corporate Finance & Restructuring segment in Milan with the appointment of four business transformation and restructuring senior hires, continuing its growth across Continental Europe and providing a permanent presence in Italy.
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MidOcean Partners Bolsters Team With Senior Hires
June 16, 2022MidOcean Partners (“MidOcean”), a premier New York-based alternative asset manager specializing in middle-market private equity and alternative credit investments, announced today that the firm has bolstered its team with two senior hires. Marshall Phelps will be joining the firm as a Managing Director and Partner within MidOcean Private Equity focusing on the firm’s Business Services vertical, and Jim Henderson has joined as a Managing Director on the Investor Relations team.
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TD Bank Names Robert Curley Regional President of Pennsylvania/New Jersey Metro
June 16, 2022TD Bank, America's Most Convenient Bank®, announced today it has appointed Robert (Rob) Curley III Regional President for its Pennsylvania/New Jersey Metro. He succeeds Michael Carbone following his retirement after 30 distinguished years at TD.
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M&T Bank Corporation President and Chief Operating Officer Rich Gold Announces Retirement
June 16, 2022Richard ("Rich") Gold, president and chief operating officer for M&T Bank Corporation (NYSE: MTB), has announced his intention to retire, effective after the first quarter of 2023. Gold plans to remain on the Board of Directors of M&T Bank.
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Cosmetics Giant Revlon Files for Chapter 11 Bankruptcy Protection
June 16, 2022Cosmetics giant Revlon filed for Chapter 11 bankruptcy protection on Wednesday evening as it grappled with a cumbersome debt load and a snarled supply chain. The company said it expects to receive $575 million in debtor-in-possession financing from its existing lender base, which will help to support its day-to-day operations. PJT Partners is acting as financial advisor to Revlon, and Alvarez & Marsal is acting as restructuring advisor.
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Clancy Appointed Chair of Nexia TRI Business Group
June 16, 2022CohnReznick LLP, one of the leading advisory, assurance, and tax firms in the United States, today announced that Kevin Clancy, Partner and Global Director of its Restructuring and Dispute Resolution Practice, has been appointed Chair of the Nexia International Turnaround, Restructuring, Insolvency (TRI) Business Group.
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Association of Insolvency and Restructuring Advisors Announces CIRA Certification Award Winners
June 15, 2022Rendering financial advisory services in the business turnaround, restructuring and bankruptcy practice areas requires both special knowledge and extensive relevant experience. In 1992, the AIRA established the Certified Insolvency and Restructuring Advisor (CIRA) program to recognize by public awareness and certification those individuals who possess a high degree of knowledge and proficiency across a spectrum of functions related to serving clients in situations involving distressed and/or insolvent entities.
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Hercules Capital Expands Its Credit Facilities to $720 Million to Support Strong Investment Portfolio Growth
June 15, 2022Hercules Capital, Inc. (NYSE: HTGC) (“Hercules” or the “Company”), the largest and leading specialty finance provider to innovative, venture, growth and established stage companies backed by some of the leading and top-tier venture capital and select private equity firms, today announced that it has increased its existing credit facilities with MUFG Bank, Ltd. (“MUFG”) and Sumitomo Mitsui Banking Corporation (“SMBC”).
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Kane Biotech Announces Amended Credit Facility
June 15, 2022Kane Biotech Inc. (TSX-V:KNE; OTCQB:KNBIF), (the “Company” or “Kane Biotech”), today announces that it has further amended its credit agreement with Pivot Financial Inc. (“Pivot”) maturing August 31, 2022 (the “Amended Credit Facility”).
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Atlas Financial Holdings Announces Expansion of Credit Facility and Provides Business Update
June 15, 2022Atlas Financial Holdings, Inc. (OTC: AFHIQ) (“we,” “us,” “our,” “Atlas” or the “Company”) today announced the expansion of the Company’s existing Convertible Senior Secured Delayed-Draw Credit Agreement (“Credit Facility”), adding new lenders and an additional $3.2 million of funding.
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Crestmark, the Commercial Finance Division of MetaBank®, Provides More Than $49.5 Million in Commercial Financing to 94 Businesses in May
June 15, 2022Crestmark, the Commercial Finance Division of MetaBank®, N.A., secured a total of $25,950,000 in ABL/factoring financial solutions for 23 new clients; Crestmark Equipment Finance provided $16,094,651 in 20 new large ticket transactions and $6,435,042 in 50 new small ticket vendor transactions; and the Structured Finance group provided $1,050,000 in financing for one new client in May.
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Huntington Business Credit Closes New Credit Facilities with Mills Products, LLC
June 15, 2022Huntington Business Credit announced it closed $13,536,000 in new credit facilities with Mills Products, LLC on May 24, 2022. Proceeds of the facility were used to provide acquisition financing and to provide ongoing working capital growth financing. Mills Products, LLC, headquartered in Athens, TN, is a manufacturer of roll-formed and tubular stamped metal products servicing the consumer appliance, after-market truck and automotive, and office furniture markets.
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Veteran Colorado Banker Joins Growing U.S. Bank Asset Based Finance Team
June 15, 2022U.S. Bank announced today that veteran Colorado banker Benjamin Fields-Elizalde has joined the growing U.S. Bank Asset Based Finance division as vice president. Based in Denver, Fields-Elizalde will lead efforts to provide asset-based credit solutions for businesses across Arizona, Colorado, Idaho, Montana, New Mexico, Nevada, Utah and Wyoming. Fields-Elizalde has more than 17 years of banking experience, including nearly 14 years in various asset-based finance roles at Wells Fargo.
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Spire Obtains $120 Million Credit Facility from Blue Torch Capital
June 15, 2022Spire Global, Inc. (NYSE: SPIR) (“Spire” or “the Company”), a leading global provider of space-based data, analytics and space services, today announced that it has obtained a credit facility up to $120 million, led by Blue Torch Capital. Proceeds will be utilized to extinguish an existing approximately $71 million credit facility and to continue driving Spire’s four strategic growth pillars, providing flexibility to strategically run the business.
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Alvarez & Marsal Bolsters Automotive & Industrial Sector Expertise
June 15, 2022Leading global professional services firm Alvarez & Marsal (A&M) strengthens its capabilities with the addition of Dallas-based Steve Hurt as a Managing Director with the firm’s Automotive & Industrials Group. Mr. Hurt’s joining demonstrates A&M’s continued commitment to help clients achieve growth and profitability goals against the backdrop of accelerating industry-wide change and disruption, including the transition to electric vehicles (EVs).
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Stifel Hires Michael Gonzales as Managing Director in Fixed Income Capital Markets Group
June 15, 2022Stifel Financial Corp. (NYSE: SF) today announced the hiring of Michael Gonzales as a Managing Director in the firm’s Fixed Income Capital Markets Group. In this role, Mr. Gonzales will lead Stifel’s efforts to expand its front-end credit sales, focusing on a broad spectrum of fixed income products, including asset-backed securities, investment-grade corporate debt, U.S. government securities, and structured notes. He will be based in the San Francisco Bay area.
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Saxum Real Estate Closes $17M Construction Loan With CIT
June 15, 2022Saxum Real Estate is pleased to announce the closing of a $17 million construction loan from CIT, a division of First Citizens Bank, for the financing of two industrial developments in Hazleton, PA. The current sites, both within opportunity zones, are poised to become two Class-A industrial developments of 105,000 SF and 115,000 SF.
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Lighthouse Financial Corp. Celebrates 35 Years
June 15, 2022Lighthouse was founded in 1987 for one purpose; to assist small to mid-size businesses with working capital financing and term debt when traditional bank loans were unavailable. Thirty-five years later, we have not waivered from our commitment to provide creative and flexible lending solutions along with unsurpassed service to our clients.
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Wingspire Capital Provides Revolver to Gehl Foods as Part of a Unitranche Credit Facility
June 14, 2022Wingspire Capital LLC (“Wingspire”) provided a revolver as part of a unitranche senior credit facility to Gehl Foods, LLC (“Gehl”). The proceeds were used to refinance previous debt and to fund an acquisition that expands Gehl’s manufacturing capabilities. Gehl is a pioneer in low-acid aseptic processing for shelf-stable beverages, as well as cheese and other sauces used in stadiums, convenience stores and quick service restaurants across the U.S.
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