- Culain Capital Closes $2.5 Million Accounts Receivable Financing Facility for Industrial Materials Distributor
- Spearmint Energy Secures $325 Million Debt Facility to Accelerate Next Generation Energy Storage
- Gateway Trade Funding Provides More Than $2.4 Million in Stretch Finance Facilities to Support Growth Across Diverse Industries
- PNC Business Credit Promotes Eamonn Brady to Southwest Region Sales Manager
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TSL Express Daily Articles & News
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Goodnight Midstream Announces Closing of Private Placement, New Revolving Credit Facility
Goodnight Midstream LLC ("Goodnight"), a leading midstream produced water infrastructure company, today announced the completion of the sale of $325 million of Senior Notes in a private placement to EIG and Crestline Investors. Concurrent with the private placement, Goodnight announced the successful closing of a $100 million Revolving Credit Facility led by Wells Fargo Bank, N.A., along with participation from Texas Capital Bank, Cadence Bank and First Horizon Bank.
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Interview with Patrick Lee, Managing Director, Head of Lender Finance, Asset-Based Lending, People’s United Bank
Recently, People's United Bank, N.A., a subsidiary of People's United Financial, Inc., announced it had expanded its Commercial Specialty Business with the formation of a dedicated Lender Finance team. The Team is led by Patrick Lee, managing director, head of Lender Finance, and is an extension of the Bank's existing Asset-Based Lending group. The Team will work with non-bank lender finance companies nationally to provide tailored solutions of $10MM or more to help them achieve their near and long-term growth objectives.
Here, Patrick Lee discusses his background and new role.
TSL Express Daily Headlines & News
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Direct Digital Holdings Announces Successful Extension To Existing Non-Dilutive Debt Facility
August 8, 2022Direct Digital Holdings, Inc. (Nasdaq: DRCT) ("Direct Digital" or the "Company"), a leading advertising and marketing technology platform and owner of operating companies Colossus Media, LLC, Huddled Masses LLC and Orange142, LLC, today announced the successful completion of an extension to its existing debt facility.
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QinetiQ US to Acquire Avantus Federal
August 8, 2022Guggenheim Securities, LLC served as exclusive financial adviser to Avantus and NewSpring Holdings, and Baker Tilly provided financial due diligence expertise. Blank Rome LLP and Kirkland & Ellis LLP served as counsel to Avantus. Citizens and Gleacher Shacklock served as joint lead financial advisers and Baker McKenzie served as counsel to QinetiQ.
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Eos Energy Enterprises, Inc. Borrows Additional $9.6 Million Under Previously Announced Credit Facility
August 8, 2022Eos Energy Enterprises, Inc. (NASDAQ: EOSE) (“Eos”), a leading provider of safe, scalable, efficient, and sustainable zinc-based energy storage systems, today announced it has borrowed an additional $9.6 million pursuant to the previously announced senior secured term loan facility with Atlas Credit Partners.
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CBRE Group, Inc. Increases and Extends Revolving Credit Facility
August 8, 2022CBRE Group, Inc. (NYSE:CBRE) today announced that it has entered into a new five-year revolving credit agreement that increases its revolving credit facility to $3.5 billion from $3.15 billion.
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Cecile Latouche Joins 36th Street Capital as EVP of Credit & Risk Management
August 8, 202236th Street Capital Partners LLC (“36th Street Capital”), an independent provider of equipment financing solutions for middle market companies, announced the appointment of Cecile Latouche as executive vice president of Credit & Risk Management, effective immediately.
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J D Factors Announces Factoring Facilities
August 8, 2022J D Factors announces it has provided the following factoring facilities: $250,000 to a transportation company in South Carolina; $200,000 to a transportation company in Alberta; $500,000 to a transportation company in Quebec; $50,000 to a transportation company in Missouri...
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Tradecycle Capital Delivers Two New Accounts Payable Finance Facilities in July
August 8, 2022Tradecycle Capital, an Indianapolis-based trade finance provider, announced it funded two new revolving accounts payable funding facilities in July. The first, is a $3,000,000 revolving accounts payable funding facility for a privately owned wholesale distributor of moderately priced furniture. The second is a $2,000,000 revolving accounts payable funding facility for a manufacturer of specialty candy and gift products.
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Altisource Asset Management Corporation Announces Line of Credit
August 8, 2022Altisource Asset Management Corporation (NYSE: AAMC) announced today that it entered into an agreement for a $50 million line of credit with Flagstar Bank FSB, a federal savings bank.
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Horizon Bancorp, Inc. Announces the Appointment of Banking Industry Leader Thomas Prame as President
August 8, 2022Horizon Bancorp, Inc. (“Horizon” or the “Company”) today announced that it named Thomas M. Prame as President of the Company and its wholly owned subsidiary, Horizon Bank. The appointment is effective August 15, 2022 and represents an important step in Horizon’s strategic expansion of its leadership team.
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JC Flowers Closes Fifth Private Equity Fund with More Than $1.1 Billion in Commitments
August 8, 2022J.C. Flowers & Co. LLC ("J.C. Flowers" or "the Firm"), a leading private investment firm dedicated to investing globally in the financial services industry, announced today it has completed fundraising for its fifth private equity fund, J.C. Flowers V L.P. (together with parallel vehicles, "JCF V"), with more than $1.1 billion in commitments.
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AIO Logic Launches AXIS End-To-End Platform For Commercial Lenders
August 8, 2022AIO Logic is announcing the launch of their AXIS commercial lending platform. AXIS by AIO Logic provides commercial lenders with increased efficiency and accuracy throughout the loan life cycle by providing them with unprecedented automation and analytics within an end-to-end origination, management, and servicing platform.
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Hersha Hospitality Trust Refinances Credit Facilities
August 8, 2022Hersha Hospitality Trust (NYSE: HT) (“Hersha” or the “Company”), owner of luxury and lifestyle hotels in coastal gateway and resort markets, today announced the Company closed on the refinancing of a $500 million Senior Secured Credit Facility (the “Credit Facility”) and the closing of the first tranche of six of the previously announced disposition of seven non-core Urban Select Service properties (the “USS Portfolio”).
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Alliance Entertainment Expands Line of Credit to $225,000,000, led by Bank of America
August 8, 2022Alliance Entertainment Holding Corporation (“Alliance Entertainment”), a distributor and wholesaler of the world’s largest in stock selection of music, movies, video games, electronics, arcades, and collectibles, today announced the June 30, 2022, expansion for their line of credit to $225,000,000 from $175,000,000.
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Katten Names New Partners
August 4, 2022Katten announced today that the firm’s Executive Committee approved the promotion of 19 attorneys to partner. “We have seen this group of attorneys perform to the highest standards, develop effective skills and provide excellent client service, contributing significantly to the success of their practices and the firm overall,” said Katten Chairman Roger P. Furey. “We congratulate them on this major career achievement.”
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Greenbrier Announces New $150M Term Loan
August 4, 2022The Greenbrier Companies (NYSE:GBX) announced that its Greenbrier Leasing subsidiary has entered a new $150M term loan to finance the continued growth of its leasing fleet. The new loan is non-recourse to Greenbrier, matures in July 2027 and has terms similar to Greenbrier Leasing's term loan completed in August 2021.
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TD to Expand its U.S. Investment Banking Business and Capabilities with Acquisition of Cowen Inc.
August 4, 2022Acquisition will create an integrated North American dealer, significantly accelerating TD Securities’ U.S. growth strategy. TD Bank Group (“TD”) (TSX: TD) and (NYSE: TD) and Cowen Inc. (“Cowen”) (NASDAQ: COWN) today announced a definitive agreement for TD to acquire Cowen in an all-cash transaction valued at US$1.3 billion, or US$39 for each share of Cowen common stock. Through this transaction, TD Securities will accelerate its long-term growth strategy in the United States by acquiring a high-quality and rapidly growing investment bank with outstanding talent and highly complementary products and services.
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LiveOne Announces Extension of East West Bank Credit Facility
August 4, 2022LiveOne (Nasdaq: LVO), an award-winning, creator-first, music, entertainment and technology platform focused on delivering premium experiences and content worldwide through memberships and live and virtual events, announced today that East West Bank has extended LiveOne's $7 million secured revolving credit facility until June 2024 year. The facility bears interest at the Prime Rate plus 0.5%.
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Alfred McKie joins Asset Based Lending Consultants (ABLC) as Quality Control Manager.
August 4, 2022Al is an industry veteran with over 30 years in the industry starting with Southeast Bank, ABLC and Synovus Bank. He is the consummate field examination professional who was trained by Don Clarke at ABLC in the early 1990’s.
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Kevin Ronan Named Group Head for CIT Capital Equipment Finance
August 4, 2022CIT, a division of First Citizens Bank, has named Kevin Ronan, senior vice president and managing director, as the group head of its Capital Equipment Finance business. CIT’s Capital Equipment Finance business is a leading nationwide provider of leasing and financing products to middle market and large-cap commercial clients and draws upon decades of experience since CIT’s founding in 1908.
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FreshBooks Secures Up to $100M USD Debt Facility to Support Global Growth
August 4, 2022FreshBooks, a leading accounting software with paying customers in 160+ countries, today announced that it has secured a $100 million USD syndicated debt facility with BMO Financial Group (BMO) and J.P. Morgan (JPM). The facility also includes an uncommitted accordion feature of $25 million USD, for a total borrowing capacity of up to $125 million USD. With BMO as the Sole Bookrunner and Administrative Agent, this debt facility will enable FreshBooks to continue its rapid global expansion plans, including strategic acquisitions and investment into more regulated markets.
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