- David Ebroon Admitted to the American College of Commercial Finance Lawyers as a Fellow
- TSL Subscriber Only Content
- Gateway Completes a Record 39 Stretch Deals in 45 Days Totaling $15 Million
- Gateway Completes a Record 39 Stretch Deals in 45 Days Totaling $15 Million
- NGL Closes $950 Million Term Loan, Amends Asset-Based Revolving Credit Facility, To Redeem Approximately 195,000 Class D Preferred Units
TSL Express Daily Articles & News
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BMO Financial Group Hires Jim Dore as U.S. Managing Director, Retail Finance, Asset-Based Lending Group
BMO Financial Group announced today that it has hired Jim Dore as U.S. Managing Director, Retail Finance Originations, Asset-Based Lending. In this role and in partnership with Michael Ganann, U.S. Head of Retail Finance, Jim will primarily focus on calling nationwide on BMO clients, prospects, and referral sources in the retail and apparel industries. Jim will be based in Boston.
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The Distressed Organization and its Viability
Editor's Note: This article is intended for newer entrants into the industry. Look for more content like this throughout the year.
Most organizations move along a continuum. Diametrical opposites, the end points of the continuum reflect a very different state of affairs. At one end of the continuum is the custodial environment, which is relatively stable and resource rich. The organization is profitable with growing revenues as reflected in both margins and market share. This provides access to additional capital if required. Information provided to management is timely, relevant and reliable. It is used by a competent and stable management team.
Most organizations move along a continuum. Diametrical opposites, the end points of the continuum reflect a very different state of affairs. At one end of the continuum is the custodial environment, which is relatively stable and resource rich. The organization is profitable with growing revenues as reflected in both margins and market share. This provides access to additional capital if required. Information provided to management is timely, relevant and reliable. It is used by a competent and stable management team.
TSL Express Daily Headlines & News
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Winston & Strawn Represents Founder SPAC
August 23, 2022Winston & Strawn represented Founder SPAC (Nasdaq: FOUN), a publicly traded special purpose acquisition company, in the closing of its previously announced merger with Rubicon Technologies, LLC (“Rubicon”), a certified B-Corporation and innovative software platform that provides smart waste and recycling solutions for businesses and governments worldwide.
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New Episode of Hilco Global Sponsored Vodcast "In the Know" - Produced by SFNet
August 23, 2022In this episode, Host Barry Bobrow sits down with Maria Dikeos, Global Head of Loans Contributions at Refinitiv, an LSEG business, to discuss the leveraged debt & asset-based markets.
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Mesa West Capital Provides Sares Regis Group with $140 MM Loan for Acquisiton of Denver Area Apartment Community
August 23, 2022Mesa West Capital has provided Sares Regis Group with $139.88 million in first mortgage debt for its acquisition and repositioning of a 386-unit multifamily property in Broomfield, CO. The five-year, floating rate loan is secured by Terracina Apartments located at 13620 Via Varra Road in the Denver metro area.
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Gateway Trade Funding Partners with a Factoring Company to Provide a $3,000,000 Purchase Order Facility to a Company Supplying Healthcare Masks
August 23, 2022With the financing from Gateway, the Company now has the additional funding they need that complements its other financing options. They expect to be in an excellent position to grow their business.
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Charles River Associates (CRA) Announces New $250 Million Revolving Credit Facility
August 23, 2022Charles River Associates (NASDAQ: CRAI), a worldwide leader in providing economic, financial, and management consulting services, today announced a new and expanded revolving credit facility with a bank syndicate comprised of five lenders. The five-year facility is for an aggregate principal amount of up to $250 million, which amount may be decreased at CRA’s option to $200 million from July 16 through January 15 of each year when CRA’s working capital needs are typically diminished.
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Annual Golf Tournament Helps Homeless in Northern Utah Achieve Goals of Sobriety, Employment and Housing
August 23, 2022TAB Bank will help raise money to help the homeless reach goals of sobriety, employment and housing at the 2022 Ogden Rescue Mission Charity Golf Tournament on Friday, Sept. 9, at Wolf Creek Resort in Eden, Utah. Hosted by the bank, all proceeds from the tournament will benefit the Ogden Rescue Mission, a faith-based 501(c)(3) nonprofit organization that provides housing, food, counseling and employment services for homeless persons in Northern Utah.
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PTI Secures $2 Billion Multi-Facility Transaction
August 23, 2022Phoenix Tower International, LLC ("PTI"), through its Spanish subsidiary (Phoenix Tower International Spain ETVE, S.L.U.), U.S. subsidiary (Phoenix Tower US Holdings (REIT) Inc.), and its Chilean subsidiary (Phoenix Tower International Chile SpA) announced today that it has amended and restated its senior credit facilities to consolidate and expand them into a single US$2.0 billion senior secured multi facility transaction covering all of North and South America.
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Carestream Takes Next Step to Implement Previously Announced Recapitalization
August 23, 2022Carestream Health (“Carestream” or the “Company”) announced it is taking the planned next step to implement the previously announced recapitalization process with its lenders by voluntarily filing for reorganization under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware. Kirkland & Ellis LLP is serving as the Company’s legal counsel, Houlihan Lokey Capital, Inc. is serving as its financial advisor, and AlixPartners, LLP is serving as its restructuring advisor.
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Blackline Safety Signs Term Sheet with ATB Financial to Provide $15 Million Credit Facility
August 23, 2022Blackline Safety Corp. (the "Company") (TSX: BLN) a global leader in connected safety, today announced it has signed a non-binding term sheet for a new two-year $15 million senior secured operating facility — with a potential $5 million accordion feature to increase the size of the facility — with ATB Financial.
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Ameritex Increases Its Total Financing To $415 Million To Service Its Customers Growth
August 23, 2022AmeriTex Holdings LLC (AmeriTex) today announced that it closed $380 million in Senior Secured Credit Facilities with U.S. Bank National Association ("U.S. Bank") to combine with its $35 million in current Subordinated Notes with Prudential Capital Partners, LP ("Prudential") to continue its growth in products and other capabilities to best serve its Texas contractor customers.
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Comerica Bank Names Joe Ursuy Executive Vice President, National Businesses for Energy, Renewables, and Waste
August 23, 2022Comerica Incorporated (NYSE: CMA) announced that Joe Ursuy has been named to the new role of Executive Vice President, National Businesses for Energy, Renewables, and Waste. He will report to Mike Ritchie, Executive Vice President, Head of National and Specialty Businesses.
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Funding Societies Signs US$50 Million Credit Facility with HSBC to Drive SME Growth in Southeast Asia
August 22, 2022Funding Societies, Southeast Asia's largest Small and Medium Enterprises (SME) digital financing platform, today announced the signing of a US$50 million credit facility* with HSBC Singapore to continue expanding the firm's reach to serving underserved SMEs in the region.
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Final Bell Holdings International Ltd. Enters Into Us$25 Million Term Loan Facility And Provides Corporate Update
August 22, 2022Final Bell Holdings International Ltd. (the "Company") is pleased to announce today that it has entered into a loan agreement (the "Loan Agreement") dated August 17, 2022 with Golden Iris International Limited (the "Lender"), which provides for a senior secured term loan facility of US$25 million (the "Term Loan").
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Rockland Trust Adds Pascuccio, Rathkamp to Danvers Commercial Loan Team
August 22, 2022Rockland Trust has added Tony Pascuccio and Jeff Rathkamp as VP commercial loan officers in its Danvers office. Pascuccio brings over three decades of experience in the financial services industry, including lending, management and development. Rathkamp brings nearly three decades of experience in the financial services and commercial lending, including specialty finance related to the energy sector.
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AlixPartners Names Dan Ritter Chief Financial Officer
August 22, 2022AlixPartners, a global management consulting firm, has promoted Dan Ritter to chief financial officer. Based in Southfield, MI, Ritter will lead AlixPartners’ finance function globally and will join the firm’s senior management team.
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9 MH&H Attorneys Named Best Lawyers in America® & Best Lawyers Ones to Watch in America® For 2023
August 22, 2022Best Lawyers in America has recognized nine Moritt Hock & Hamroff attorneys in its 2023 edition. Six attorneys were included in The Best Lawyers in America® and three attorneys were included in The Best Lawyers: Ones to Watch in America®.
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CIBC Announces Dallas Team Changes
August 22, 2022CIBC today announced three new team members in its growing Dallas office. Brent Currier is appointed head of the CIBC Private Wealth, US, office in Dallas. Wendy Holder is named Managing Director and Texas Commercial Group Manager, CIBC US Commercial Banking. Frank Bonet is named Managing Director and Senior Relationship Manager with the Commercial Banking team’s US Asset-based Lending Group.
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Greystone Places $52.5 Million in Debt and Equity Financing for Senior Housing Community
August 22, 2022Greystone, a leading national commercial real estate finance company, placed a total of $52,560,000 in debt and equity construction financing for a 180-unit senior housing community in Gainesville, Florida. The transaction was originated by Cary Tremper and Matt Miller of Greystone, on behalf of Discovery Senior Living.
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O2 Sponsor Finance provides $41.5MM Credit Facility to Support Borgman Capital's Gilman Cheese acquisition of Dairyfood USA
August 22, 2022O2 Sponsor Finance, a division of Old Second National Bank, today announced that it acted as Administrative Agent and Lead Arranger for $41.5 in senior secured credit facilities to support Borgman Capital's portfolio company Gilman Cheese Corporation in its acquisition of Dairyfood USA. (together the "Company").
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F&F Capital Group Names Industry Veteran Kevin McKenzie as Chief Investment Office
August 22, 2022F&F Capital Group, an innovative investment firm specializing in real estate, technology, and aviation investments, has named Kevin McKenzie as its new Chief Investment Officer. The F&F family office, where McKenzie will be based, was established by Jeffrey Frieden and Robert Friedman, founders of Auction.com and Ten-X Commercial.
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