- Faccorp Funds Three New Factoring Facilities so far Q1; Supporting Growth Across Security, Infrastructure, and Energy Sectors
- Renasant Business Credit Announces Deals
- Verano Announces $195 Million Senior Secured Term Loan Refinancing Agreement to Fund Company’s Strategic Growth Initiatives
- TSL Feature Articles
- Western Alliance Bank Launches Healthcare Industry Specialization, Led by Industry Veteran Jennifer Hwang
TSL Express Daily Articles & News
To submit company news and press releases toTSL Express, email tslexpress@sfnet.com.
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Signature Bank Launches New National Business Line With Appointment of Healthcare Banking and Finance Team
Signature Bank (Nasdaq: SBNY), a New York-based, full-service commercial bank, announced today the launch of a new business line with the appointment of a nine-person Healthcare Banking and Finance (HBF) team. The new private client banking team will provide lending services while garnering deposits to clients within the healthcare arena.
Leading the new business and HBF team is Matthew T. Huber, recently named Senior Vice President and Managing Group Director. In this capacity, Huber will oversee all aspects of the HBF team, including managing the team’s pipeline and banking activities and building a healthcare-related portfolio spanning both lending and deposit clients.
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Gail K. Bernstein was executive vice president, national investment manager for PNC Business Credit, located in Los Angeles, CA. Prior to September 2013, she was the marketing manager of PNC Business Credit-Western Region, a de novo office that she opened in 1998. Besides her extensive experience in ABL, her career encompasses a specialization in international lending and investment management. She has traveled extensively in Latin America and is bilingual in English and Spanish.
After 20 years with PNC, Bernstein retired on August 30, 2019.
TSL Express Daily Headlines & News
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Blank Rome Continues Nationwide Expansion of Corporate Practice with New Partner in Los Angeles
July 11, 2022Blank Rome LLP is pleased to announce that Rebekah Prince has joined the firm’s Corporate, M&A, and Securities practice group as a partner in the Los Angeles office. Rebekah’s diverse corporate practice includes representing public and private companies as well as clients in the sports, media and entertainment, and franchising industries. She joins the firm from Barnes & Thornburg LLP.
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FP Newspapers Inc. Announces Amendment of Term Loan and Non-Revolving Credit Facility
July 11, 2022FP Newspapers Inc. ("FPI" or the "Company") (TSXV:FP) is pleased to announce that FP Canadian Newspapers Limited Partnership ("FPLP") has entered into an amended and restated facility letter (the "Restated Facility Letter") whereby its existing facility letter dated January 21, 2020 with HSBC Bank Canada (the "Original Facility Letter") was amended. In connection with the Restated Facility Letter, HSBC Bank Canada has provided the Company with a credit facility of up to $15,585,000 (the "Credit Facility").
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Republic’s Fast AR Funding Provides a $500,000 Selective Factoring Facility for IT Specialist Staffing Firm
July 11, 2022With traditional work routines reexamined and overhauled due to the COVID-19 global pandemic, employers around the world need help from temporary staffing agencies to fill gaps in their workforce and delivery systems. Republic Business Credit was there to support a multinational staffing and consulting company meet the demand in the U.S.
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Tradecycle Capital Delivers a New Accounts Payable Finance Facility for a Specialty Metals Processor
July 11, 2022Tradecycle Capital, an Indianapolis-based trade finance provider, announced it funded a new $2,000,000 revolving accounts payable funding facility for a family office owned processor of specialty metal alloy products.
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Banc of California Names Jagdeep Singh Sahota Chief Payments Officer
July 11, 2022Banc of California, Inc. (NYSE: BANC) today announced that its wholly owned subsidiary, Banc of California, N.A., California’s leading relationship-focused business bank, has hired Jagdeep Singh Sahota as Chief Payments Officer.
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MidCap Business Credit LLC Completes a $17 Million Asset-Based Credit Facility to Virginia Explosives & Drilling Company
July 11, 2022MidCap Business Credit LLC announced today that it has completed a $17 million asset-based credit facility to Virginia Explosives & Drilling Company. The Business was established in 1998 and is headquartered in Vansant, VA. The opportunity was sourced out of MidCap’s regional office in Baltimore, MD.
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John K. Malysa Joins Pembrook Capital Management as Managing Director
July 11, 2022Pembrook Capital Management LLC ("Pembrook"), one of the nation's leading bridge lenders for market rate, workforce and affordable multifamily rental housing, has appointed John K. Malysa as a managing director of the firm. Mr. Malysa, a veteran commercial real estate credit risk professional with over 25 years of multi-faceted industry experience, will focus on and underwriting, oversee asset management, and serve as a member of Pembrook's Investment Committee.
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EPSG Significantly Expands Credit Facility with People’s United, a Division of M&T Bank Corporation
July 11, 2022EPSG, a leading integrator of merchant payment technology solutions, announced today that it has significantly expanded its existing revolving line of credit (“Credit Facility”) with People’s United, a division of M&T Bank Corporation (“M&T”) (NASDAQ: MTB).
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Verdant Commercial Capital Signs Private Label Program Agreement with Synovus Bank
July 11, 2022Verdant Commercial Capital, LLC executed a multiyear program agreement with Synovus Bank to provide a new equipment finance offering — Synovus Equipment Leasing — for Synovus Bank commercial customers. Through the offering, leasing and equipment finance agreements for essential use equipment can range from $25,000 to $50 million. The program is for Synovus commercial customers only and is now available.
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Concord Capital Partners Appoints new CIO
July 11, 2022Concord Capital Partners has appointed Samuel Landman as chief investment officer (CIO). The commercial real estate veteran will work on the acquisition, financing, and disposition of real estate assets to help drive the firm’s growth. Landman has more than 17 years of experience sourcing, acquiring, developing and structuring multifamily, industrial and office projects nationally and globally.
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Divergent Technologies Strengthens Capital Resources with $60 Million Loan Facility Led by Horizon Technology Finance and $20 Million Line of Credit from Bridge Bank
July 11, 2022Divergent Technologies Inc. ("Divergent"), the company that has developed the world's first end-to-end digital production system to revolutionize industrial-scale manufacturing, announced today that it has closed a new $60 million venture loan facility led by Horizon Technology Finance Corporation (NASDAQ: HRZN) ("Horizon"), and a new $20 million revolving line of credit provided by Bridge Bank, a division of Western Alliance Bank
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Comvest Credit Partners Announces New $120 Million Investment in Purchasing Power
July 11, 2022Comvest Credit Partners (“Comvest”), a leading provider of flexible financing solutions to middle-market companies, has acted as Administrative Agent in providing a new $120 million senior secured credit facility (the “Financing”) to Purchasing Power. The transaction, with institutional alternative management firm Crestline Investors, marks a continuation of Comvest’s support of the Atlanta-based voluntary benefits provider of employee purchase programs.
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Natixis Corporate & Investment Banking Appoints Co-heads of Credit Americas, Reinforces Senior Appointments to U.S. CLO, Structured Credit Syndicate Businesses
July 11, 2022Natixis Corporate & Investment Banking ("Natixis CIB") today announced the appointments of Brad Roberts and David Williams as Co-Heads of Credit Americas, where they will be responsible for overseeing the Global Structured Credit & Solutions Group, as well as credit sales and trading at Natixis CIB.
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SFNet Announces Winners of Cross-Border Finance Essay Contest
July 11, 2022SFNet is pleased to announce the winners of the SFNet Cross-Border Finance Essay Contest, sponsored by Goldberg Kohn. The following essays will appear in upcoming issues of The Secured Lender and in TSL Express. Authors of the winning essays will be invited to participate in a panel at SFNet’s 78th Annual Convention in Austin, TX, Nov. 9-11.
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Confidence Remains High in Secured Lending Industry Quarterly Report Shows
July 7, 2022Confidence in the asset-based lending market was positive in the first quarter but banks and other lenders are watchful of an economy that shows a mix of highs and lows, according to data released by the Secured Finance Network. SFNet surveyed bank and non-bank asset-based lenders (ABLs) on key indicators for its quarterly Asset-Based Lending Index and SFNet Confidence Index.
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North Mill Reports Record-Breaking Quarter And Month
July 7, 2022North Mill Equipment Finance LLC (“NMEF”), a leading independent commercial equipment lessor headquartered in Norwalk, Connecticut, reported an all-time high in funding volume for the second quarter of 2022. Funded volume surged to $147 million, up 34% from the first quarter of 2022 and up 108% from the second quarter of 2021.
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Tradewind Finance Closes Credit Facility Structured in USD and Euro for Indian Chemicals Company
July 7, 2022Tradewind Finance announced today it has funded a rapidly-growing chemicals company based in India that manufactures solutions and dyes intended for a variety of applications, including pharmaceuticals, food processing, and personal care products. The funding is being used for working capital purposes, including the purchase of raw materials.
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Assembled Brands Announces the Hiring of Clifford Davis II
July 7, 2022Assembled Brands continues its growth hiring and is pleased to announce that Clifford Davis II has joined its team as an ABL Portfolio Analyst in Los Angeles, CA. In this role, Davis is responsible for portfolio management, operational and collateral compliance, monitoring as well as reporting.
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King & Spalding Adds Corporate Partner Kathleen Blaszak in Northern Virginia
July 7, 2022King & Spalding announced today that Kathleen “Katie” Blaszak has joined the firm as a partner in the Corporate, Finance and Investments (CFI) Practice Group. She is based in the firm’s Northern Virginia office.
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Helix Energy Solutions Announces Completion of Acquisition of Alliance and Amendment to its ABL Facility
July 7, 2022Helix Energy Solutions Group, Inc. (“Helix”) (NYSE: HLX) announced today its successful completion of the previously announced acquisition of all of the equity interests of the Alliance group of companies (collectively “Alliance”), expanding its decommissioning presence in the Gulf of Mexico shelf and advancing Helix’s environmental, social and governance (“ESG”) initiatives by responsibly supporting end-of-life requirements of oil and gas projects. Bank of America, N.A. serves as Administrative Agent for the ABL facility.
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