- Benefit Street Partners Announces Closing of a $1.1 Billion CRE CLO
- Renasant Business Credit Announces Deals
- Faccorp Funds Three New Factoring Facilities so far Q1; Supporting Growth Across Security, Infrastructure, and Energy Sectors
- Market Sizing & Impact Study 2023
- Gateway Completes a Record 39 Stretch Deals in 45 Days Totaling $15 Million
TSL Express Daily Articles & News
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Bridgeport Capital Announces Bob Seidenberger has Joined as Senior Vice President of Business Development
Bridgeport Capital is pleased to announce the addition of Bob Seidenberger as Senior Vice President of Business Development to the Bridgeport team. Bob will be opening a regional sales office in Philadelphia, Pennsylvania and will report to Max Toledo. Bob brings 25 years years of experience in the financial services industry and is extremely knowledgeable on all aspects of factoring.
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Securing an Asset-Based Loan with the Borrower in the Driver’s Seat
Corporate entities often turn to asset-based lending (ABL) as a strategic way to fund acquisitions, reduce capital volatility inherent in cash flow structures, or simply to accelerate growth. Secured by company assets, this alternative path to cash flow financing has historically followed the same process: companies choose a lending institution based on the most attractive deal structure, accept its deal terms, and undergo a field exam and asset appraisal to determine the appropriate borrowing terms.
TSL Express Daily Headlines & News
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First Citizens Bank Completes Operational Conversion of OneWest Bank Division
July 19, 2022First Citizens Bank announced that its OneWest Bank division based in Southern California has completed its conversion to First Citizens’ operations and systems. This conversion integrates OneWest Bank customer accounts into First Citizens products and services.
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Mill Rock Packaging Acquires Impressions Incorporated
July 19, 2022Alvarez & Marsal and White & Case LLP advised Mill Rock Packaging on the transaction. FINNEA Group advised Impressions. BMO Sponsor Finance and PGIM Private Capital provided debt financing.
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David Shapiro Joins Vida Capital as a Managing Director
July 19, 2022Vida Capital, Inc. (“Vida”), a portfolio company of RedBird Capital Partners and Reverence Capital Partners, today announced that David Shapiro has joined the firm as Managing Director. Mr. Shapiro will be based in New York and report to David Gussmann, Senior Managing Director.
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Eagle Point Credit Management Hires Karan Chabba as Head of ABS, MBS, SRT and Specialty Finance
July 19, 2022Eagle Point Credit Management LLC (“Eagle Point”), a specialist asset manager focused on investing in CLO securities, portfolio debt securities and other credit investments, has appointed Karan Chabba as Head of ABS, MBS, SRT and Specialty Finance.
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Ducommun Incorporated Announces New Credit Facility
July 18, 2022Ducommun Incorporated (NYSE: DCO) (“Ducommun” or the “Company”) today announced that effective July 14, 2022, it entered into a new credit facility consisting of a $250 million term loan and a $200 million revolving line of credit to replace its existing debt structure. In connection with the transaction, the Company extinguished its existing $140 million term loan, its existing $100 million unused revolving line of credit, and its other existing $240 million term loan, which would have matured in December 2024, December 2024, and November 2025, respectively.
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Norton Rose Fulbright Appoints Yianni Cheilas as Head of Greece
July 18, 2022Global law firm Norton Rose Fulbright has appointed Yianni Cheilas, co-head of asset finance for Europe, Middle East and Asia (EMEA), to head up its Greek offices, with effect from August 1, 2022. Yianni will replace Dimitri Sofianopoulos, who has been with the firm for nearly 30 years. Dimitri will take on a role at Costamare group, but will continue with Norton Rose Fulbright as a senior consultant of the firm.
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Winston & Strawn LLP Represents Sound Point Agency LLC
July 18, 2022Winston & Strawn LLP represents Sound Point Agency LLC, as administrative and collateral agent for the first lien secured lenders in the jointly administered chapter 11 cases of Path Medical LLC and Path Medical Center Holdings, Inc. pending in the Bankruptcy Court for the Southern District of Florida under Case No. 21-18338. The debtors provide acute trauma treatment and diagnostic imaging services to patients throughout the state of Florida.
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Sue Duckett Named COO at Franklin Capital
July 18, 2022Franklin Capital proudly announces that Sue Duckett has been promoted to COO. As COO, Sue will oversee Franklin’s operations and asset quality while continuing to drive growth and profitability. Sue joined Franklin Capital in 2017 as Executive Vice President and has played a central role in Franklin’s success and maximizing business performance. She has been instrumental in supporting business development. Additionally, Sue has been key to continued impeccable client service and maintaining excellent client relationships.
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Second Avenue Capital Partners Adds Michael P. Russell as Managing Director
July 18, 2022Second Avenue Capital Partners (SACP), a lender specializing in asset-based loans for the broader retail and consumer products industry, announced Michael P. Russell has joined the firm as a Managing Director. Based in the Boston office, Michael’s responsibilities include origination, underwriting, and account/relationship management.
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Maxim Commercial Capital Funded from $20,000 to $2.0 Million in Q2 2022
July 18, 2022Maxim Commercial Capital (“Maxim”) provided creative financing solutions for small businesses across the U.S. during the second quarter of 2022. Fundings ranged in size from $20,000 for an owner operator to purchase a new rig to $2.0 million for a residential care company to purchase an additional facility to grow its business.
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SLIM Capital Has Seen Record Success in the First Half of 2022
July 18, 2022SLIM Capital, located in Beverly Hills and Orange County, California, reports significant increased business volume for the first half of 2022. With a stellar first half of the year, SLIM Capital is set to break its yearly funding records. Shervin Rashti, CEO is extremely pleased with how 2022 has begun and feels confident that there will be continued growth as we prepare for the last half of the year.
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North Mill Enhances Rate Card Program
July 18, 2022North Mill Equipment Finance LLC (“NMEF”), a leading independent commercial equipment lessor headquartered in Norwalk, Connecticut, announced that the company has implemented major enhancements to its pricing scheme, simplifying its buy rate structure and connecting each price point directly to the credit parameters company analysts use to assess each transaction.
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CohnReznick Rebrands Transactions & Turnaround Practice as Value360
July 18, 2022CohnReznick LLP, one of the leading advisory, assurance, and tax firms in the United States, today announced that its rapidly growing Transactions & Turnaround Advisory practice has been rebranded Value360. The new name reinforces the practice group’s full service offering to clients across all industries and situations, primarily in situations that involve a transaction, or those undergoing change and disruption.
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Greenbrook TMS Announces Closing of Success TMS Acquisition and US$75 Million Credit Facility With Madryn Asset Management
July 18, 2022Greenbrook TMS Inc. (TSX: GTMS, NASDAQ: GBNH) (“Greenbrook” or the “Company”), a leading provider of Transcranial Magnetic Stimulation (“TMS”) therapy in the United States, is pleased to announce the closing of its previously-announced acquisition (the “Acquisition”) of Check Five LLC, a Delaware limited liability company (doing business as “Success TMS”) (“Success TMS”). In addition, Greenbrook announces today that it and its subsidiaries have entered into a credit agreement for a US$75 million secured credit facility (the “Credit Facility”) with Madryn Asset Management, LP (“Madryn”) and its affiliated entities.
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Quotient Industrial Capital Provides a $2 Million Receivables Credit Facility to an Infusion Care Company
July 18, 2022Quotient Industrial Capital (QIC) provided an accounts receivable facility to an Infusion Care Nursing company, a provider for patients of CVS, Wallgreens and other national healthcare services companies. The QIC client will use proceeds of the facility to support the continued growth across its core business, mostly focused on hiring more nurses to service more patients.
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Theratechnologies Announces Binding Commitment for a Non-Dilutive Term Loan of up to $100 million from Marathon Asset Management
July 18, 2022Theratechnologies Inc. (“Theratechnologies” or “the Company”) (TSX: TH) (NASDAQ: THTX), a biopharmaceutical company focused on the development and commercialization of innovative therapies, today announced that it has received a binding commitment with respect to a non-dilutive term loan with an affiliate of Marathon Asset Management for up to $100 million. All dollar amounts are expressed in U.S. dollars, unless otherwise stated.
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ServisFirst Bank Announces Expansion to Western North Carolina
July 18, 2022ServisFirst Bank, a subsidiary of ServisFirst Bancshares (NYSE:SFBS), announces the expansion into Western North Carolina with the opening of ServisFirst Bank Western North Carolina, headquartered in Asheville. Led by two Asheville-natives, Bryan Boone joins ServisFirst Bank as Regional President of this new market, and Tammy Baldwin will serve Asheville as Business Services Officer.
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Clearlake Capital Group Announces Senior Promotions and New Additions
July 18, 2022Clearlake Capital Group, L.P. ("Clearlake"), an investment firm founded in 2006 operating integrated businesses across private equity, credit and other related strategies, today announced several senior executive promotions and new additions to the Clearlake team.
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Great Rock Capital Names Chief Commercial Officer
July 18, 2022Great Rock Capital is pleased to announce the promotion of Jim Clifton to Chief Commercial Officer. Jim will be based in Chicago and is responsible for expanding the firm’s origination efforts and strategic relationships across North America.
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Crossroads Financial Provides a $5.8 Million Inventory Revolving Line of Credit
July 18, 2022Crossroads Financial provided a $5,800,000 inventory revolving line of credit to a producer and distributor of wine in California. Crossroads Financial's client has won 100+ medals, received 90+ point ratings for their portfolio of wines, and named one of the top 1000 fastest growing private businesses in America by Inc. Magazine.
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