- Market Sizing & Impact Study 2023
- TD Asset Management Inc. Executes First Loan in Global Private Credit Strategy
- Josh Newsom Joins First Horizon Bank in North Mississippi Market
- Mighty Therapeutics Secures Up to $150 Million to Progress Commercial and Clinical Development of New Class of Mitochondrial Targeted Medicines
- First Bancorp Announces Acquisition of First Carolina Bancshares Corporation to Expand its South Carolina Presence
TSL Express Daily Articles & News
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Star Group, L.P. Announces New Credit Facility
The bank syndicate supporting the credit facility is comprised of ten participants acting in various capacities, with JPMorgan Chase Bank, N.A. as Administrative Agent, Bank of America, N.A. and Citizens Bank, N.A. as Co-Syndication Agents, Keybank National Association, TD Bank, N.A., BMO Harris Bank, N.A. and Wells Fargo Bank, National Association as Co-Documentation Agents, and J.P. Morgan Chase Bank, N.A., Bank of America, N.A. and Citizens Bank, N.A. as Joint Lead Arrangers and Joint Book Runners.
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Do not underestimate the impact of the Coronavirus on a company’s Q1 and Q2 2020 financial results. The supply chain issues are unknown, the potential economic slowdown is unknown, and the length of time the impact will be felt is unknown.
This will certainly be a standard excuse for performance weakness that will be heard over the next year. Be prepared!
As a lender, which borrowers do you consider for impact, and what do you do to stay ahead of the problem?
TSL Express Daily Headlines & News
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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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B. Riley's GA Europe Partners with CM Sports to Revitalize RENO, a Leading German Shoe Retailer
October 4, 2022GA Europe, a B. Riley Financial (NASDAQ: RILY) company, today announced it is working with CM Sports GmbH ("CM Sports") to revitalize RENO, a leading German shoe chain. GA Europe will work together with CM Sports to strategically realign RENO's store footprint and restock stores with fresh inventory to position the shoe chain for future success.
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REV Capital Provides $7.5MM Factoring Facility to Tennessee Staffing Agency
October 4, 2022REV Capital funded a $7.5MM factoring facility to a temporary staffing company in Tennessee. The company provides temporary staffing, temp-to-hire, and direct hire placements to several Fortune 500 companies. The company has seen tremendous growth in businesses over the past few years and needed to increase its existing facilities to facilitate its continued expansion.
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