TSL Express Daily Articles & News
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CIT Arranges $714 Million for Thermal Generation Assets in California
CIT, a division of First Citizens Bank, today announced that its Power and Energy business served as coordinating lead arranger on $714 million in financing for a portfolio of thermal generation assets in California.
The proceeds were used to refinance a 1.8-gigawatt portfolio owned by subsidiaries of the Avenue Capital Group and managed by Middle River Power. Assets within the portfolio consist of eight gas-fired peaking plants and two gas-fired combined cycle power plants located near metropolitan centers across California.
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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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Amerisource Closes $1,000,000 Working Capital Facility for Distribution Firm
June 20, 2022Amerisource Business Capital announced the closing and funding of a $1,000,000 senior credit facility for a Pennsylvania-based automotive supply distribution firm. The firm is experiencing a period of rapid growth necessitating the need for working capital financing.
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Raich Ende Malter & Company to Join EisnerAmper
June 20, 2022Global business advisory firm EisnerAmper announced that the partners and staff of New York City-based accounting and advisory firm Raich Ende Malter & Co. LLP ("REM") will be joining EisnerAmper in a transaction anticipated to close in the summer of 2022.
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William Blair Expands Equity Capital Markets Group, Adding Managing Director in New York
June 17, 2022William Blair, the premier global boutique with expertise in investment banking, investment management, and private wealth management, announced today that it has expanded its equity capital markets team with the addition of Derek Caracciola. Joining in New York as a managing director on the private capital markets team, Caracciola draws on a career spanning more than 15 years focused on equity, equity linked, and debt private placements.
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Revlon Seeks Approval of up to $1.025B in DIP Funding
June 17, 2022As reported, Jefferies Finance is the administrative agent and collateral agent for the term DIP and MidCap Funding IV Trust is administrative agent and collateral agent for the ABL DIP (with Crystal Financial d/b/a SLR Credit Solutions serving in those capacities for the SISO DIP for as long as it is a lender under the SISO DIP).
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Whole Earth Brands, Inc. Increases Revolving Credit Facility to $125 Million
June 17, 2022Three lenders participated in the $50 million increase to the revolving credit facility agented by TD Securities: The Toronto-Dominion Bank, New York Branch, Truist Bank, and BMO Harris Bank N.A.
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IDB Bank Announces Daniel Roberts As New Chief Risk Officer
June 17, 2022- IDB Bank, a New York-based private and commercial bank, announced the appointment of Daniel Roberts as its new Chief Risk Officer (CRO). In his role, Roberts will be responsible for overseeing and maintaining the Bank's capacity to identify, measure, and manage financial and operational risk. He will report to Ziv Biron, IDB Bank's President & CEO.
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Loeb Announces Mary Jane Anderson as Vice President of Accounting and Finance
June 17, 2022Mary Jane Anderson has joined the team at Loeb as Vice President of Accounting and Finance. Mary Jane has more than 20 years of experience leading accounting and finance teams and managing large loan portfolios. Mary Jane is excited to join the team at Loeb and looks forward to helping continue its long legacy as a leader in the industrial asset lifecycle space.
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Huntington Bancshares Completes Acquisition of Capstone Partners
June 17, 2022Huntington Bancshares Incorporated (Nasdaq: HBAN) announced today it has completed its acquisition of Capstone Partners, a leading investment banking and advisory firm, creating a full-service banking experience for clients in Huntington's expanding capital markets and commercial banking franchise.
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J D Factors Announces Factoring Facilities
June 17, 2022J D Factors announced it has provided the following factoring facilities: $50,000 a transportation company in New Jersey; $100,000 to a transportation company in Ontario; $125,000 to a transportation company in North Carolina; $100,000 to a transportation company in Alberta.
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FTI Consulting Launches Corporate Finance & Restructuring Segment in Italy with Four Business Transformation and Restructuring Experts
June 16, 2022TI Consulting, Inc. (NYSE: FCN) today announced the launch of the firm’s Corporate Finance & Restructuring segment in Milan with the appointment of four business transformation and restructuring senior hires, continuing its growth across Continental Europe and providing a permanent presence in Italy.
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MidOcean Partners Bolsters Team With Senior Hires
June 16, 2022MidOcean Partners (“MidOcean”), a premier New York-based alternative asset manager specializing in middle-market private equity and alternative credit investments, announced today that the firm has bolstered its team with two senior hires. Marshall Phelps will be joining the firm as a Managing Director and Partner within MidOcean Private Equity focusing on the firm’s Business Services vertical, and Jim Henderson has joined as a Managing Director on the Investor Relations team.
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TD Bank Names Robert Curley Regional President of Pennsylvania/New Jersey Metro
June 16, 2022TD Bank, America's Most Convenient Bank®, announced today it has appointed Robert (Rob) Curley III Regional President for its Pennsylvania/New Jersey Metro. He succeeds Michael Carbone following his retirement after 30 distinguished years at TD.
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M&T Bank Corporation President and Chief Operating Officer Rich Gold Announces Retirement
June 16, 2022Richard ("Rich") Gold, president and chief operating officer for M&T Bank Corporation (NYSE: MTB), has announced his intention to retire, effective after the first quarter of 2023. Gold plans to remain on the Board of Directors of M&T Bank.
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Clancy Appointed Chair of Nexia TRI Business Group
June 16, 2022CohnReznick LLP, one of the leading advisory, assurance, and tax firms in the United States, today announced that Kevin Clancy, Partner and Global Director of its Restructuring and Dispute Resolution Practice, has been appointed Chair of the Nexia International Turnaround, Restructuring, Insolvency (TRI) Business Group.
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Hercules Capital Expands Its Credit Facilities to $720 Million to Support Strong Investment Portfolio Growth
June 15, 2022Hercules Capital, Inc. (NYSE: HTGC) (“Hercules” or the “Company”), the largest and leading specialty finance provider to innovative, venture, growth and established stage companies backed by some of the leading and top-tier venture capital and select private equity firms, today announced that it has increased its existing credit facilities with MUFG Bank, Ltd. (“MUFG”) and Sumitomo Mitsui Banking Corporation (“SMBC”).
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Kane Biotech Announces Amended Credit Facility
June 15, 2022Kane Biotech Inc. (TSX-V:KNE; OTCQB:KNBIF), (the “Company” or “Kane Biotech”), today announces that it has further amended its credit agreement with Pivot Financial Inc. (“Pivot”) maturing August 31, 2022 (the “Amended Credit Facility”).
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Atlas Financial Holdings Announces Expansion of Credit Facility and Provides Business Update
June 15, 2022Atlas Financial Holdings, Inc. (OTC: AFHIQ) (“we,” “us,” “our,” “Atlas” or the “Company”) today announced the expansion of the Company’s existing Convertible Senior Secured Delayed-Draw Credit Agreement (“Credit Facility”), adding new lenders and an additional $3.2 million of funding.
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Crestmark, the Commercial Finance Division of MetaBank®, Provides More Than $49.5 Million in Commercial Financing to 94 Businesses in May
June 15, 2022Crestmark, the Commercial Finance Division of MetaBank®, N.A., secured a total of $25,950,000 in ABL/factoring financial solutions for 23 new clients; Crestmark Equipment Finance provided $16,094,651 in 20 new large ticket transactions and $6,435,042 in 50 new small ticket vendor transactions; and the Structured Finance group provided $1,050,000 in financing for one new client in May.
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Huntington Business Credit Closes New Credit Facilities with Mills Products, LLC
June 15, 2022Huntington Business Credit announced it closed $13,536,000 in new credit facilities with Mills Products, LLC on May 24, 2022. Proceeds of the facility were used to provide acquisition financing and to provide ongoing working capital growth financing. Mills Products, LLC, headquartered in Athens, TN, is a manufacturer of roll-formed and tubular stamped metal products servicing the consumer appliance, after-market truck and automotive, and office furniture markets.
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Veteran Colorado Banker Joins Growing U.S. Bank Asset Based Finance Team
June 15, 2022U.S. Bank announced today that veteran Colorado banker Benjamin Fields-Elizalde has joined the growing U.S. Bank Asset Based Finance division as vice president. Based in Denver, Fields-Elizalde will lead efforts to provide asset-based credit solutions for businesses across Arizona, Colorado, Idaho, Montana, New Mexico, Nevada, Utah and Wyoming. Fields-Elizalde has more than 17 years of banking experience, including nearly 14 years in various asset-based finance roles at Wells Fargo.
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