- Errin Richardson Glasgow Named as new President of Nationwide Operations of Cascade Credit Services, LLC
- Seth Friedman of Abacus Finance Group Appointed to SBIA Board of Governors as Northeast Regional Chair
- PNC Receives Regulatory Approvals for Acquisition of FirstBank
- Transparency Analytics Completes Second Funding Round Led by Deciens Capital
- SouthStar Capital Funds $250,000 Accounts Receivable Facility for Growing Telecommunications Company
TSL Express Daily Articles & News
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Monroe Capital Closes on $4.8 Billion of Direct Lending Funds
Monroe Capital LLC (“Monroe”) today announced the final close of its 2022 Monroe Capital Private Credit Fund IV (“Fund”) with $4.8 billion of investable capital, including targeted fund leverage and separately managed accounts investing alongside the Fund. The Fund has limited partner commitments with over 300 investors in 17 countries. The Fund primarily targets private equity sponsored and non-sponsored, lower middle-market U.S. companies with less than $35 million in EBITDA.
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In a priority dispute between a bank and two nurseries, the bank prevailed. The dispute concerned who held the senior lien in over a million dollars’ worth of trees and shrubs in three states. By Samuel R. Henninger
TSL Express Daily Headlines & News
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SouthState Adds Commercial, Business, Private Banking Expertise in Florida, Alabama, Georgia and South Carolina
April 28, 2022SouthState Bank has hired nine bankers to continue to expand its Commercial, Business and Private Banking teams across Florida, Alabama, Georgia and South Carolina.
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StoneX Group Inc. Announces New Three-Year Credit Facility
April 28, 2022StoneX Group Inc. (Nasdaq:SNEX) today announced that it has agreed to amend its existing $401 million senior secured credit facility, to extend the maturity through April 2025 and to increase the size of the facility to $475 million. The existing facility, comprised of a $236 million revolving credit facility and a $165 million Term Loan A facility, is being amended to a $475 million revolving credit facility.
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Michael Kee Rejoins Vida Capital as Managing Director, Analytics
April 28, 2022Vida Capital, Inc. (“Vida”), a portfolio company of RedBird Capital Partners and Reverence Capital Partners, today announced that Michael Kee has rejoined Vida as Managing Director, Analytics. Mr. Kee will be based in Austin and report to Will Ketterer, Senior Managing Director, Portfolio Management and CIO. In his new role, Mr. Kee will focus on portfolio analytics and reporting, leverage analysis and fund modeling across Vida’s investment strategies.
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Comvest Credit Partners Leads Dividend Recapitalization of Saatva
April 28, 2022Comvest Credit Partners (“Comvest”), a leading provider of flexible financing solutions to middle-market companies, has acted as Administrative Agent in providing a senior secured credit facility (the “Financing”) to Saatva (or the “Company”), a leading direct-to-consumer (DTC) online retailer of luxury mattresses and sleep products. The Financing was used to support a dividend recapitalization of the Company by Saatva management and TZP Group, a private equity firm.
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TradeCap Partners Provides $800,000 Production Finance Facility for Inegrated Security Solutions Company
April 28, 2022TradeCap worked quickly to assess credit limits with each supplier, open AP obligations and needs to support the various projects. A facility was structured around supplier terms and cash flow needed to maintain terms with suppliers and complete installation for the multiple projects. The 15+ suppliers in the supply chain had various lead times, some up to 8 weeks, and either required prepayment with placement of the order or payment on terms.
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LSQ Provides $65 Million Working Capital Facility, Implements AR Management Program for Continuum Global Solutions
April 28, 2022LSQ, a leading provider of working capital finance and payments solutions, recently funded a $65 million working capital facility for Continuum Global Solutions, a provider of omnichannel contact center services worldwide via voice and non-voice channels such as chat, email, and social media.
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Tiger Group and Southern Fabricating Machinery Sales Offer High-Precision Manufacturing Equipment in May 4 Online Auction
April 28, 2022A May 4 online auction by Tiger Group and partner Southern Fabricating Machinery Sales features equipment from a closed Fairfield plant that’s surplus to the ongoing operations of a manufacturer of metal components and assemblies for the aerospace, defense, oil and gas, and industrial sectors.
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Crestmark, the Commercial Finance Division of MetaBank®, Provides More Than $101.7 Million in Commercial Financing to 142 Businesses in Late March and Early April
April 27, 2022Crestmark, the Commercial Finance Division of MetaBank®, N.A., secured a total of $56,450,000 in ABL/factoring financial solutions for 26 new clients; Crestmark Equipment Finance provided $25,043,991 in 21 new large ticket transactions and $11,837,288 in 93 new small ticket vendor transactions; and the Structured Finance group provided $8,369,000 in financing for two new clients in the second half of March and first half of April.
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World Class Automotive Injection Molding and Chrome Plating Facility Goes to Auction - COVID Disruption of Supply Chains Creates Opportunity for Acquiring Late Model Plastic Injection Molding Equipment in Queretaro, Mexico
April 27, 2022An entire plant full of machinery and equipment featuring injection molding and chrome plating machinery is being auctioned via webcast on May 12 in Colon, Queretaro, Mexico, announced PPL Group. Most of the equipment is new as of 2017, 2018 and 2019.
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J D Factors Provides Factoring Facilities
April 27, 2022J D Factors announced it has provided the following factoring facilities: $120,000 to a transportation company in Indiana; $100,000 to a transportation company in Ontario; $250,000 to a transportation company in Ohio; $250,000 to a transportation company in Illinois.
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Winston & Strawn Represents US Tiger Securities, Inc.
April 27, 2022Winston & Strawn represented US Tiger Securities, Inc. in connection with Aimfinity Investment Corp. I (NASDAQ: AIMA, the "Company"), which announced the pricing its initial public offering ("IPO") of 7,000,000 units at a price of $10.00 per unit.
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First Business Bank Funds $3 Million Factoring Facility to Waste Management Company
April 27, 2022First Business Bank announces the funding of a $3 million accounts receivable factoring facility by its Accounts Receivable Financing group. Our new client operates a recycling business as well as several landfills. The facility will help augment the company’s cash flow following an acquisition.
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Kayne Anderson Private Credit Closes Fourth U.S. Middle Market Senior Credit Fund
April 27, 2022Kayne Anderson Private Credit (“KAPC”), the middle market private credit group of Kayne Anderson Capital Advisors, L.P., announced today it had successfully closed the firm’s fourth middle market senior credit fund, Kayne Senior Credit Fund IV (“KSCF IV”).
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Am Law 100 Bankruptcy Practice Leader Kurt Mayr Joins Glenn Agre
April 27, 2022Glenn Agre Bergman & Fuentes LLP, the bankruptcy and trial law firm that launched in 2021, has taken a major step forward in its evolution with the addition of Kurt Mayr, most recently the head of the bankruptcy practice at Morgan Lewis & Bockius, LLP.
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The First Bancshares, Inc. Announces Proposed Acquisition of Beach Bancorp, Inc.
April 27, 2022The First Bancshares, Inc. (NASDAQ: FBMS) (“First Bancshares” or “the Company”), holding company for The First Bank (“The First”), announced today that it has entered into a definitive agreement to acquire Beach Bancorp, Inc. (“BBI”), parent company of Beach Bank based in Fort Walton Beach, Florida.
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Establishment Labs Enters Into $225 Million Credit Facility With Oaktree
April 27, 2022Establishment Labs Holdings Inc. (NASDAQ: ESTA), a medical technology company focused on women’s health, initially in the breast aesthetics and reconstruction market, today announced that it has entered into a $225 million term loan financing facility with funds managed by Oaktree Capital Management, L.P.
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AGP Group Announces US$250 Million Expansion Debt Funding
April 27, 2022AGP Group (“AGP” or “the company”), a global leader in the design and production of specialty automotive glazing components, today announced it has entered into a debt financing agreement with OMERS Capital Markets (“OMERS”) and BMO Financial Group (“BMO”) to provide up to US$250 million in a senior secured term loan facility.
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IBI Investment House and CIFC Launch Structured Credit Mutual Fund
April 27, 2022IBI Investment House Ltd. (“IBI”), one of Israel's leading investment houses, announced the launch of IBI CLO Strategies Fund, a fund investing in collateralized loan obligation (“CLO”) debt, equity, and warehouses (the "Fund").
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VOX Funding Secures $40M Credit Facility with Fortress Investment Group
April 26, 2022VOX Funding, an alternative finance company, announced today the closing of a $40M credit facility with funds managed by affiliates of Fortress Investment Group (“Fortress”). This 3-year term facility is expandable up to $75M and will be used to further VOX’s ability to fund short-term bridge capital to small-to-medium size enterprises (“SMEs”) nationwide.
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Vobile Group Secures More Than $127 Million In Acquisition Financing Through HSBC
April 26, 2022Vobile Group Limited (SEHK: 3738;OTCQX: VOBIF), a global leader in Software-as-a-Service for online video content protection and monetization, has secured more than US$127 million in facility for its proposed acquisition of Particle Culture Technology Group in mainland China.
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