- Asset-Based Lending & Factoring Surveys
- Baker Garrington and Liquid Capital Announce Recent Financings
- NGL Closes $950 Million Term Loan, Amends Asset-Based Revolving Credit Facility, To Redeem Approximately 195,000 Class D Preferred Units
- Gateway Completes a Record 39 Stretch Deals in 45 Days Totaling $15 Million
- CVC Credit Prices First new CLO of 2026
TSL Express Daily Articles & News
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Great Rock Capital Provides $25MM of Liquidity to Industry Leading Compression Service Provider
Great Rock Capital, an asset-focused commercial finance company specializing in middle market lending, today announced it has provided $25.0 million of liquidity through a senior secured credit facility to support Natural Gas Compression Systems (“NGCS”), a Michigan-based full-service gas compression equipment and service business throughout the United States and Canada.
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The UK Government Moves Closer to Potentially Damaging Legislation Impacting the UK ABL Industry and Its Clients
The UK Government announced 11th July 2019, through the publication of the Draft Finance Bill, that it is going ahead with the reinstatement of Crown Preference in respect of VAT and PAYE.
TSL Express Daily Headlines & News
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F.N.B. Corporation Strengthens North Carolina Presence With Pending Acquisition of UB Bancorp
June 2, 2022F.N.B. Corporation ("FNB") (NYSE: FNB) and UB Bancorp (OTCQX: UBNC) today announced the signing of a definitive merger agreement for FNB to acquire UB Bancorp, including its wholly-owned banking subsidiary, Union Bank, in an all-stock transaction valued at $19.56 per share, or a fully diluted market value of approximately $117 million, based upon the closing stock price of FNB as of Tuesday, May 31, 2022.
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Great Rock Capital Closes Credit Facility with Leading Metal Roof Distributor
June 1, 2022Great Rock Capital, an asset-focused commercial finance company specializing in middle market lending, today announced the closing of a senior secured credit facility with a leading distributor of metal coils and sheets to the metal roofing industry located in Florida.
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SLR Business Credit Announces Rebranding of Subsidiary Fast Pay Partners to SLR Digital Finance
June 1, 2022SLR Business Credit has announced that its subsidiary Fast Pay Partners has been rebranded as SLR Digital Finance (“SLRDF”). SLRDF provides asset-based loans and factoring facilities to ad tech and digital media businesses throughout the United States with borrowing needs ranging from $200,000 to $50 million.
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Oxford Finance Announces the Closing of a $30 Million Credit Facility With Selux Diagnostics
June 1, 2022Oxford Finance LLC (“Oxford”), a leading specialty finance firm that provides senior debt to life sciences and healthcare services companies worldwide, is announcing the closing of a $30 million senior secured term loan with Selux Diagnostic, Inc. (“Selux” or “the Company”), a Boston-based medical device company leading a new era in personalized diagnostics to combat superbug infections and fight antibiotic resistance.
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Orion Engineered Carbons Expands Its Revolving Credit Facility
June 1, 2022Orion Engineered Carbons (NYSE: OEC), a specialty chemical company, today announced that it has added 100 million EUR to its senior secured revolving credit facility, which expands the company's facility to 350 million EUR.
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TPC Group Commences Transformational Deleveraging and Recapitalization, Eclipse Business Capital LLC Provides $200 Million Asset-based Revolving DIP Facility
June 1, 2022The Company intends to use the proceedings to implement a financial restructuring with the support of a majority of its secured noteholders that will deleverage and recapitalize the Company’s balance sheet and definitively address other legacy liabilities.
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Entourage Health Extends its Senior Secured Credit Facility Maturity Date
June 1, 2022Entourage Health Corp. (TSX-V:ENTG) (OTCQX:ETRGF) (FSE:4WE) (“Entourage” or the “Company”), a Canadian producer and distributor of award-winning cannabis products confirmed today it has signed an additional amendment to its senior secured credit facility entered into on March 29, 2019 (the “Credit Facility”).
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Bonterra Energy Corp. Provides Operational Update and Announces Credit Facility Redetermination
June 1, 2022Bonterra and its syndicate of lenders have finalized an amended and restated credit agreement which improves alignment with the Company's debt reduction goals and results in decreased interest costs on bank debt going forward (the "New Facility").
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U. S. Steel Extends Sustainability-Linked ABL Credit Facility
June 1, 2022United States Steel Corporation (NYSE: X) (“U. S. Steel” or the “company”) today announced that it has completed an amendment and restatement of the company’s $1.75 billion asset-based sustainability-linked credit facility (the “ABL”).
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First Horizon Corporation Shareholders Approve Transaction with The Toronto-Dominion Bank
June 1, 2022First Horizon Corporation (NYSE: FHN or "First Horizon") today announced that it has received shareholder approval for The Toronto-Dominion Bank ("TD") to acquire First Horizon. The transaction is expected to close in the first quarter of TD's 2023 fiscal year subject to U.S. and Canadian regulatory approvals and the completion of other necessary closing conditions.
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Silk Road Medical Extends Cash Runway by Securing up to $250 Million in Debt Financing
June 1, 2022Silk Road Medical, Inc. (Company) (Nasdaq: SILK), a company focused on reducing the risk of stroke and its devastating impact, today announced that it has entered into a new five-year loan arrangement with Oxford Finance LLC (Oxford) comprising up to a $200 million term loan and up to a $50 million revolving line of credit.
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CIT Commercial Services Hires Brian Martin to Lead Southeast Region
June 1, 2022CIT, a division of First Citizens Bank, today announced that its Commercial Services business has hired Brian Martin, an experienced banker with broad expertise in factoring and accounts receivable financing, as a regional manager leading CIT Commercial Services in the Southeast region.
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Cambridge Savings Bank Fuels Expansion of Atlantic Equipment with a $4.3 Million Lending Package
June 1, 2022Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and more than $5 billion in assets, announced that its Corporate Banking team provided Atlantic Equipment with $4.3 million in funding to support its expansion across the eastern seaboard.
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Cvent Announces Successful Completion of Debt Refinancing
May 31, 2022Cvent (Nasdaq: CVT), a market-leading meetings, events and hospitality technology provider, today announced the closing of a new $500 million, five-year senior secured revolving credit facility through a syndicate of banks led by PNC Bank, National Association
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Orion Engineered Carbons Expands Its Revolving Credit Facility
May 31, 2022Orion Engineered Carbons (NYSE: OEC), a specialty chemical company, today announced that it has added 100 million EUR to its senior secured revolving credit facility, which expands the company's facility to 350 million EUR.
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Heritage Global Inc. Appoints Vice President of Finance Brian Cobb as New Chief Financial Officer
May 31, 2022Heritage Global Inc. (NASDAQ: HGBL) (“Heritage Global” “HGI” or “the Company”), an asset services company specializing in financial and industrial asset transactions, announced today that Vice President of Finance Brian Cobb has been appointed Chief Financial Officer (“CFO”), effective immediately.
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Ares Commercial Finance Has Provided a Senior Secured Credit Facility to Hint, Inc.
May 31, 2022Ares Commercial Finance announced today that it has provided a senior secured credit facility to Hint, Inc. The credit facility consists of an asset based revolving line of credit. Proceeds of the credit facility were used to refinance existing indebtedness and for ongoing working capital to support growth.
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Amerisource Expands Team with New Appointment
May 31, 2022Amerisource Business Capital announced the recent appointment of Courtney Mark as regional market manager. Based in Salt Lake City, Utah, Courtney joins Amerisource with over 28 years of experience in commercial finance and asset-based lending, covering markets in Arizona, California, Colorado, Nevada, and Utah.
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Celtic Capital Corporation Provides Accounts Receivable Line of Credit and an Equipment Loan for California-based Real Food Products Manufacturer
May 31, 2022Celtic Capital Corporation today announced its most recent new client relationship – a California-based manufacturer of various real food products sourced from ethically-grown super foods from around the world. The Company was referred to Celtic Capital by its bank who needed to exit the deal due to covenant violations.
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Western New York Specialty Finance Startup Company Closes $5M Round of Equity and $35M of funding to Support Small to Medium Sized Businesses Nationwide
May 31, 2022Culain Capital Management (Culain) officially launched a new Specialty Finance company focused on accounts receivable funding in May 2022. Culain was founded by Jamie Franz, a former partner at Keltic Financial and managing director at Ares Commercial Finance, Joseph Heim, a former partner with Dopkins & Company, James Jarosz, a former M&T Bank executive and market manager in WNY and Fred Kulikowski, a former president and COO of Commercial Federal Bank who for years held senior executive positions at both Citigroup and M&T Bank in Western New York
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