- Origis Energy Closes $900 Million Corporate Credit Facility
- Haversine Funding Announces Recent Lender Finance Closings and Facility Expansions
- Market Sizing & Impact Study 2023
- Access Capital Supports Coneybeare’s Next Chapter of Growth
- Barclay Damon Expands and Relocates Boston and New Haven Offices as Part of Continued Major-Market Growth
TSL Express Daily Articles & News
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Encina Lender Finance Expands and Strengthens Senior Management Team With Addition Of Four Industry Veterans and Key Promotion
Encina Lender Finance, LLC (“ELF”) announced today a significant expansion to its executive leadership team designed to bolster the company’s position as a leading nonbank lender finance platform serving both commercial and consumer specialty finance companies in the U.S. and Canada.
The new hires are: Edward Chang - chief executive officer; Mark Kassis - head of Risk Management, Commercial Vertical; Bill Laird – head of Risk Management, Consumer Vertical and David Mattei – managing director, Funding Strategy. Additionally, John Thomas was promoted to president and chief operating officer.
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SFNet’s Annual & Q4 Asset-Based Lending Surveys Reflect Continuing Growth
In perhaps the last snapshot of the secured finance industry before the onset of the COVID-19 pandemic, the fourth quarter and annual SFNet Asset-Based Lending Surveys reflect that banks and independent lenders reported that asset-based lending to U.S. businesses increased steadily and credit quality remained strong. However, the unfolding COVID-19 pandemic that began in the first quarter of 2020 is having an unprecedented impact on financial markets worldwide.
TSL Express Daily Headlines & News
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BMO Supporting Communities Impacted by Hurricane Ian
October 6, 2022BMO today announced a donation of $100,000 to the American Red Cross to support affected communities following Hurricane Ian. The bank is also offering disaster relief options to support customers impacted by the events.
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ClearStream Increases Credit Facility to $50 Million
October 6, 2022ClearStream Energy Services Inc. (“ClearStream” or the “Company”) (TSX: CSM) today announced that it has amended its asset-based revolving credit facility (the “ABL Facility”) with The Toronto-Dominion Bank to increase the maximum borrowings available thereunder to $50 million.
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Pathlight Capital Serves as Documentation Agent on $400 Million Credit Facility to Beyond Finance, LLC
October 6, 2022Pathlight Capital LP ("Pathlight") announced it is serving as the Documentation Agent on a $400 million senior secured delayed-draw term loan facility ("DDTL") to Beyond Finance, LLC ("Beyond" or the "Company"), a provider of success fee-based debt resolution services. Comvest Credit Partners, a leading provider of flexible direct financing solutions to middle-market companies, served as Administrative Agent.
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Year-over-year U.S. Bankruptcy Filings Increase for Second Consecutive Month in September 2022
October 6, 2022Year-over-year U.S. bankruptcy filings increased seven percent across all chapters for the second consecutive month in September, according to data released today from Epiq's Bankruptcy Analytics platform.
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CIBC Announces Senior Executive Appointments
October 6, 2022CIBC (TSX: CM) (NYSE: CM) President and CEO Victor Dodig today announced senior leadership appointments to further the bank's client-focused strategy.
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Assembled Brands Announces a New $5MM Facility with No Cow
October 6, 2022Assembled Brands is pleased to announce its new partnership with No Cow, a revolutionary protein bar brand that specializes in dairy-free and plant-based offerings. Assembled Brands is supporting the brand’s continued growth with a $5 million line of credit. No Cow was founded in 2015 and sells dairy-free and vegan protein bars as well as protein powder.
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J D Factors Announces Factoring Facilities
October 6, 2022J D Factors announced it has provided the following factoring facilities: $250,000 to a transportation company in Ontario; $100,000 to a transportation company in Oregon; $300,000 to an excavation company in Quebec; $500,000 to a transportation company in California...
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Irene Eddy Named Chief Financial Officer at Accord Financial
October 5, 2022Accord Financial Corp., one of the U.S. and Canada’s leading independent commercial finance companies ("Accord") (TSX: ACD) is pleased to announce the promotion of Irene Eddy as its Chief Financial Officer effective October 1, 2022. As CFO, Eddy will lead Accord’s finance organization, responsible for providing strategic and operational leadership and supporting business unit leaders in all areas of finance, capital, reporting and strategy.
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Caesars Entertainment, Inc. Announces the Closing of New $3 Billion Credit Facilities due 2028
October 5, 2022Caesars Entertainment, Inc. (NASDAQ: CZR) ("Caesars") today announced the closing of new $3 billion senior secured credit facilities consisting of a new $750 million senior secured term loan (the "Term A Loan") and a new $2.25 billion senior secured revolving credit facility (the "Revolving Credit Facility" and, together with the Term A Loan, the "Senior Credit Facilities") resulting from an increase and extension to Caesars' existing revolving credit facility.
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Ocean Bank Funds $19.5 Million Loan for 130-apartment Development in Volusia County
October 5, 2022Ocean Bank announced it has provided a $19.5 million construction loan for Allure on Enterprise, a rental residential development encompassing 130 apartments in 27 two-story buildings in Debary, Florida.
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B. Riley Securities Facilitates Comprehensive Refinancing for Unique Fabricating, Inc.
October 5, 2022Unique Fabricating, Inc. (NYSE:UFAB), a leader in engineering and manufacturing multi-material foam, rubber, and plastic components utilized in noise, vibration, and harshness management and air/water sealing applications for the transportation, appliance, medical, and consumer/off-road markets, announced that it has reached agreement with its bank lenders and with certain existing equity investors.
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Versant Funds $5 Million Non-Recourse Factoring Transaction to Tech Company
October 5, 2022Versant Funding LLC is pleased to announce it has funded a $5 Million non-recourse factoring transaction to a tech company which sells hardware and software to major media companies. This private equity sponsored business required a rapid infusion of capital to meet its cash needs through the end of the year. Versant was able to quickly put a factoring facility in place which will provide the company with the short-term liquidity they sought.
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Citizens Appoints Michelle Hecht Head of Corporate Affairs
October 5, 2022Citizens Financial Group, Inc. (NYSE: CFG) today announced that Michelle Hecht has been named Head of Corporate Affairs. In this capacity she will oversee public affairs, corporate philanthropy, community engagement and volunteerism initiatives that support the company’s growth strategy. She succeeds Barbara Cottam, who is leaving Citizens to take on a new role at the U.S. Department of Commerce, in Washington DC.
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Bloomreach Secures Credit Facility with J.P. Morgan
October 5, 2022Bloomreach, the world's #1 Commerce Experience Cloud, today announced it has entered into a $30 million, three-year credit facility with J.P. Morgan, further strengthening the company's financial position as it continues to scale its commerce experience solutions to businesses worldwide. The $30 million base facility includes an accordion that may permit up to $130 million in borrowing, and follows a $175 million equity investment announced by the company in February 2022.
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SMBC Appoints Rick Davison as Chief Financial Officer
October 5, 2022SMBC, a member of SMBC Group, today announced the appointment of Rick Davison as Chief Financial Officer for the Americas. Prior to joining SMBC, Rick was the U.S. Chief Financial Officer for the Royal Bank of Canada (RBC), where he was responsible for providing primary oversight in the U.S. on all finance-related areas, including capital adequacy, financial planning, financial and regulatory reporting, and general business advisory.
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Flexiti Announces Upsized C$535 million Revolving Warehouse Credit Facility
October 4, 2022Flexiti Financial Inc. (“Flexiti”), a leading point-of-sale consumer financing solution for retailers, has announced today that it has upsized its revolving warehouse credit facility from C$500 million to C$535 million and extended its maturity. Credit Suisse serves as administrative agent on the facility, with financing also provided by an affiliate of Bank of Montreal and funds managed by Atalaya Capital Management.
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Surge Energy America Announces Increased Borrowing Base of Revolving Credit Facility to $1.75 Billion
October 4, 2022Surge Energy US Holdings Company ("Surge Energy" or the "Company") announces an increased borrowing base from $1.5 billion to $1.75 billion on the Company's revolving credit facility ("Credit Facility").
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Solifi Named top 10 Banking Tech Solution Provider by MyTechMag
October 4, 2022Solifi™, a global fintech software partner for secured finance, announced MyTechMag named Solifi as one of the world’s top 10 banking technology solution providers in 2022. Solifi was recognized for its innovative fintech solutions built on the company’s software-as-a-service (SaaS)-based open finance platform.
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Software Platform Featuring Diamond Cut Score Calculator and 3D Jewelry Configurator Available for Sale
October 4, 2022Hilco Streambank is seeking offers for a proprietary software platform featuring a diamond cut score calculator and 3D jewelry configurator utilized by a jewelry e-commerce retailer. The software brings gem selection and jewelry design out of the hands of retailers and into the hands of the customer via an online platform which supported annual sales of more than $12 million at its peak.
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Ocean Bank Funds $6 Million Factoring Facility to IT Staffing and Service Provider
October 4, 2022Ocean Bank’s Factoring Division has financed a $6 million factoring facility to an industry-leading provider of IT services to media and entertainment companies. “Our client is undergoing a remarkable growth period and needs more flexible financing. Ocean Bank was able to find a lasting solution that will help fund that growth,” said Daniel Krasna, Vice President of Business Development.
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