- Baker Garrington and Liquid Capital Announce Recent Financings
- Ashtrom Renewable Energy Completes Financial Close for Another Renewable Energy Project in the U.S.
- Market Sizing & Impact Study 2023
- Essex Capital Group Closes $2.75 Million Short-Term Bridge Facility
- Treville Capital Group Upsizes Credit Facility to Nitra to $95 Million; Encina Lender Finance Joins as Co-Lender
TSL Express Daily Articles & News
To submit company news and press releases toTSL Express, email tslexpress@sfnet.com.
Today's Top Story
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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
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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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Veteran Risk Management and Global Markets Executive Joins MUFG
August 1, 2022MUFG, one of the world's leading financial groups, today announced that Denis McHugh will join the company as Chief Risk Officer for MUFG Securities Americas Inc. and Market Risk Management Officer for MUFG Americas Holdings Corporation, effective August 30, 2022.
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SLR Equipment Finance Adds to its Risk Team with Hire of Ryan Post
August 1, 2022Ryan Post joined SLR Equipment Finance as Vice President - Risk. In his new role, Ryan will utilize his prior experience in credit analysis and financial services to help expand and grow SLR Equipment Finance’s evolving financial solutions platform.
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North Mill Hits $1 Billion In Originations On Anniversary of Recapitalization
August 1, 2022North Mill Equipment Finance LLC (“NMEF”), a leading independent commercial equipment lessor headquartered in Norwalk, Connecticut, announced today that the company crossed the $1 billion mark in total originations since its recapitalization by an affiliate of Wafra Capital Partners, Inc. (WCP).
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Foreclosure Sale Features Medical Waste-Disposal Equipment from California Plant
August 1, 2022Recycling and waste-disposal companies can acquire shredders, incinerators and other useful machinery and equipment in an immediate sale by Tiger Group and Perry Videx.
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Equinox Gold Strengthens Balance Sheet with Updated Credit Facility
August 1, 2022Equinox Gold Corp. (TSX: EQX) (NYSE American: EQX) ("Equinox Gold" or the "Company") is pleased to announce it has strengthened its balance sheet and increased its liquidity by amending its existing credit facility.
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Avient Announces Debt Financing to Fund Acquisition of DSM Protective Materials
August 1, 2022Avient Corporation (NYSE: AVNT) ("Avient"), a leading provider of specialized and sustainable solutions, today announced it has finalized the debt financing to fund its pending acquisition of DSM Protective Materials (including the Dyneema® brand) ("Dyneema"), which is expected to close on September 1, 2022.
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AUDACIOUS Enters into Credit Facility with Lola Ventures
August 1, 2022Australis Capital Inc. (CSE:AUSA) (OTCQB:AUSAF) ("AUSA", "AUDACIOUS", or the "Company"), today announced that the Company has entered into a credit facility with Lola Ventures ("Lola"), an entity controlled by Company CEO Terry Booth. The facility will make up to $2.5 million available to the Company, earmarked for general working capital purposes, including fueling AUDACIOUS' growth initiatives.
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Ares Management Corporation Announces U.S. Direct Lending Origination Activity for Second Quarter and Last Twelve Months
August 1, 2022Ares Management Corporation announced today that funds managed by its Credit Group (collectively “Ares”) closed approximately $5.9 billion in U.S. direct lending commitments across 58 transactions during the second quarter of 2022 and approximately $31.8 billion in direct lending commitments across 259 transactions in the last twelve-month period ended June 30, 2022.
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NFI Group Announces Amendments to its Credit Facilities
August 1, 2022The Bank of Nova Scotia is the Administrative Agent for the Revolver, and The Bank of Nova Scotia, BMO Capital Markets, and National Bank Financial Inc. are the Joint Bookrunners. The Revolver syndicate also includes The Canadian Imperial Bank of Commerce; Bank of America, Canada Branch; Wells Fargo Bank, N.A., Canadian Branch; The Toronto Dominion Bank; HSBC Bank Canada; MUFG Bank Ltd., Canada Branch; Export Development Canada and ICICI Bank Canada.
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Concrete Pumping Holdings Upsizes Asset-Based Lending Facility to $160 Million
August 1, 2022Concrete Pumping Holdings, Inc., a leading provider of concrete pumping and waste management services in the U.S. and U.K., announced that Brundage-Bone Concrete Pumping Holdings Inc., a wholly-owned subsidiary of the Company, and certain of its subsidiaries and affiliate, has amended its existing ABL credit agreement (as amended, the “ABL Facility”) to provide up to $160 million (previously $125 million) of commitments. The $35 million in incremental commitments was provided by JPMorgan Chase Bank, N.A.
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Crestmark, the Commercial Finance Division of PathwardTM, Provides More Than $75.5 Million in Commercial Financing to 112 Businesses in June
August 1, 2022Crestmark, the Commercial Finance Division of PathwardTM, N.A., secured a total of $33,772,677 in ABL/factoring financial solutions for 23 new clients; Crestmark Equipment Finance provided $18,865,360 in 17 new large ticket transactions and $7,174,032 in 67 new small ticket vendor transactions; and the Structured Finance group provided $15,689,940 in financing for five new clients in June.
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North Shore Bank Expands Commercial Banking Team With Addition of New VP and Business Relationship Specialist
August 1, 2022North Shore Bank announced today that its commercial banking team will expand with the hire of new vice president, Derek E. Wheeler, and business relationship specialist, Max Schommer. Wheeler and Schommer will manage and advise existing, new and potential business partnerships to initiate commercial business loans and banking services.
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Byline Bancorp, Inc. Announces Chief Financial Officer Transition Plan
August 1, 2022Byline Bancorp, Inc. (“Byline” or the “Company”) (NYSE: BY), the parent company of Byline Bank (“Byline Bank”), announced today that Thomas J. Bell, III, currently Senior Vice President, Treasurer, and a member of Byline’s executive leadership team, will succeed Lindsay Corby as Chief Financial Officer, effective August 15, 2022.
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SVPGlobal Expands Investment Team with Addition of Dedicated Aviation Professionals, Deepening Its Focus on Opportunities Globally
August 1, 2022Strategic Value Partners, LLC and its affiliates ("SVPGlobal"), a global investment firm with over $18 billion of assets under management, today announced that it has added three senior aviation-focused professionals to its investment team to capture investment and aircraft management opportunities globally.
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GoldenTree Announces Closing of $487 Million CLO Under GLM Strategy
August 1, 2022GoldenTree Loan Management II ("GLM II") and its affiliated investment manager GoldenTree Asset Management LP (along with other affiliated investment managers "GoldenTree"), announced the closing of a $487 million collateralized loan obligation ("CLO") to be managed by GLM II.
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ONB Names Rafael A. Sanchez to new Executive Leadership Role to Help Support and Advance Underrepresented Communities
August 1, 2022Old National Bank is pleased to name Rafael A. Sanchez as EVP, Chief Impact Officer. In this critical new executive leadership position, Sanchez will develop and lead corporate initiatives and partnerships that focus on the financial advancement of underrepresented communities.
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Robertson “Clay” Jones Named President and Chief Executive Officer of Heritage Commerce Corp
August 1, 2022Heritage Commerce Corp (Nasdaq: HTBK), the holding company (the “Company’) for Heritage Bank of Commerce (the “Bank” or “HBC”), today announced that Walter T. Kaczmarek will be stepping down as President and Chief Executive Officer of the Company, effective September 15, 2022.
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McKernan Joins Webster Bank as Managing Director, ABL Originations
August 1, 2022Webster Bank is pleased to announce that it is expanding its commitment to its Asset Based Lending division with the addition of Chris McKernan as Managing Director, ABL Originations. McKernan will report to David Viggiano, Sales Manager, West Region, Asset Based Lending.
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Star Funding, Inc. Provides $7,000,000 Purchase Order Finance and Accounts Receivable Factoring Program for a Walmart Supplier of Hearing Products
August 1, 2022Star Funding, Inc. a New York City based provider of purchase order financing and factoring, announces the completion of a $7,000,000 purchase order finance and factoring facility to support a fast-growing supplier of hearing products to Walmart.
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Converge Announces $500 Million Global Revolving Credit Facility and TSX Normal Course Issuer Bid
July 28, 2022Converge Technology Solutions Corp. (“Converge” or “the Company”) (TSX:CTS) (FSE:0ZB) (OTCQX:CTSDF), a software-enabled IT & Cloud Solutions provider, is pleased to announce it has refinanced its existing $300 million ABL credit facility with a new five-year $500 million global revolving credit facility (the “Global Credit Facility”) led by J.P. Morgan and Canadian Imperial Bank of Commerce as joint lead arrangers, with the Bank of Nova Scotia, the Toronto-Dominion Bank, and the Bank of Montreal participating in the lender group.
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