- King & Spalding Elects 27 Partners and 17 Counsel for 2026
- Spirit Airlines Gets $100 Million Lifeline Amid Restructuring
- HyperAMS Announces Enterprise Coated Products Inc. Acquired by Loparex, a Strategic Private-Equity-Owned Company
- TAB Bank Extends a $15 Million Asset-Based Lending Facility to Gehr Industries
- SouthStar Capital Funds $250,000 Accounts Receivable Facility for Growing Telecommunications Company
TSL Express Daily Articles & News
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Siena Lending Group Closes New $70 Million Credit Facility for Navajo Transitional Energy Company LLC
Siena Lending Group LLC ("Siena"), a leading asset-based lender, today announced the closing of a $70 million credit facility with Navajo Transitional Energy Company, LLC (“NTEC”). The financing solution includes a $50 million asset-based revolving credit facility and a $20 million second lien term loan arranged by Siena.
The new three-year credit facility was used to complete a strategic acquisition, refinance existing debt and provide additional capital to support NTEC’s strong ongoing growth. The acquisition advances NTEC’s efforts to continue diversifying beyond its core coal mining business, which supports electricity production for vital energy needs throughout The United States and in global power markets.
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TSL Express Daily Headlines & News
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Golub Capital Sets New Records for Deal Activity in 2021
January 11, 2022Golub Capital today announced record originations for both the fourth quarter of 2021 and the full year. The Firm closed over $15 billion in commitments during the fourth quarter and over $36 billion in commitments for all of 2021.
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Truist Names Denise DeMaio Chief Audit Officer, Effective Feb. 28, 2022
January 11, 2022DeMaio, who will be based in Charlotte, North Carolina, will lead Truist's internal audit function and provide counsel to senior management on emerging risk trends from the vantage points of governance, processes, technologies and reporting.
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Ares Management Corporation Adds New Capability in Investment Grade Private Credit
January 11, 2022Ares Management Corporation (NYSE: ARES) (“Ares”) announced today that Jeffrey Hughes has joined the Ares Credit Group to lead the firm’s new effort in sourcing and managing privately placed investment grade credit investments.
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New York Bill Wants to Break Fashion Out of its ‘Black Box’
January 10, 2022Fashion is one of the least-regulated industries. A first-of-its-kind bill introduced in New York state on Friday is fighting to hold the biggest brands accountable for their impacts on people and the planet. Sponsored by State Senator Alessandra Biaggi and Assemblywoman Anna R. Kelles, the Fashion Act, also known as Assembly Bill A8352, has powerful backing, including Environmental Advocates New York, the Natural Resources Defense Council, the New Standard Institute, the New York City Environmental Justice Alliance, designer Stella McCartney and supermodel-icon-turned-sustainability-champion Amber Valletta.
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Wingspire Capital Provides $50 Million Of A Revolving Line Of Credit Facility For Microstar Logistics
January 10, 2022Wingspire Capital LLC (“Wingspire”) provided $50 million of a revolving line of credit facility to keg sales and rental company MicroStar Logistics (“MicroStar”) as part of larger agented transaction led by Ares Commercial Finance (“Ares”).
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Fifth Third Business Capital Provides $14.4 Million in Refinancing to Energy Steel Products
January 10, 2022Energy Steel Products (“ESP”) is a master distributor of stainless steel bar, selling to a network of over 550 service centers nationwide to support varying just-in-time business models. ESP is majority owned by Lone Star New Markets and Lone Star Growth Capital.
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HYPERAMS, LLC Announces Merger with Blackbird Asset Services, LLC
January 10, 2022HYPERAMS, LLC announces that Buffalo, NY based Blackbird Asset Services, LLC will be merging its operation with HYPERAMS effective immediately. Blackbird Managing Director David Fiegel will assume the role of Managing Director of Auction Services and manage all facets of HYPERAMS auction operations.
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BizCap® Facilitates $60 Million in Financing for AvAir
January 10, 2022BizCap®, a national commercial finance and advisory firm, today announced it has successfully structured and secured $60 million in financing for AvAir, a global leader in the aviation aftermarket that supplies components to a broad variety of commercial passenger and cargo aircraft operators.
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Rise Line Business Credit Hires Morten Kucey as Senior Managing Director
January 10, 2022Rise Line Business Credit, one of the most creative and reliable lenders to lower middle market companies, has named Morten Kucey as Senior Managing Director. Kucey will play a key role in expanding Rise Line’s relationships and product offerings across the industry to originate, structure, and underwrite new lending opportunities.
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J D Factors Announces Factoring Facilities
January 10, 2022J D Factors announced it has provided the following factoring facilities: $50,000 to a transportation company in Texas; $100,000 to a transportation company in Alabama; $200,000 to a transportation company in Indiana.
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Moritt Hock & Hamroff Announces 2022 Attorney Promotions
January 10, 2022Moritt Hock & Hamroff has announced that Julia Gavrilov and Dennis Kucica have been elevated to Partner, that Brian Adelman, Stephen Breidenbach and Sofia Fayer have been elevated to Counsel and that Alexander Widell, a Partner of the firm, has been elected to serve as Co-Chair of the firm's Litigation Practice Group, effective January 1, 2022.
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Tradecycle Expands Geographic Reach with Dallas Office
January 10, 2022Tradecycle Capital is excited to announce its geographic expansion with the addition of Steve Reichmuth in Dallas, TX. Steve joins Tradecycle’s team as Sales Director for the region and will support Tradecycle’s continued growth.
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A&G Real Estate Partners and Murray Wise Associates Land Stalking-Horse Bidder for Massive Agricultural Complex in Lexington, Kentucky Market
January 10, 2022A&G Real Estate Partners and Murray Wise Associates LLC are under contract with a stalking horse bidder in the receivership sale of a 1.87 million-square-foot greenhouse and agricultural warehouse complex on 151 acres in Paris, Kentucky.
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Silicon Valley Bank Commits to $5 Billion in Sustainable Finance and Carbon Neutral Operations to Support a Healthier Planet
January 10, 2022Silicon Valley Bank, the bank of the world’s most innovative companies and their investors, today announced it has committed to provide at least $5 billion by 2027 in loans, investments and other financing to support sustainability efforts and the company has set a goal to achieve carbon neutral operations by 2025.
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Sallyport Commercial Finance Provides $10 million in Financing for Oil and Gas Company Under Pressure
January 10, 2022To close out 2021, Sallyport is delighted to announce a $10,000,000 finance package covering accounts receivable, inventory and real estate. The client was referred to Sallyport by investment banking partners whom we worked with on multiple occasions in progressing this arrangement. They needed a reliable lender that they could depend upon to follow through on their promises in order to close the deal for the client in a very tight time frame.
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TAB Bank Provides Energy Drink Company in Michigan with a $1 Million Asset-Based Credit Facility
January 10, 2022TAB Bank is pleased to announce it has provided an energy drink company in Michigan with a $1 million asset-based credit facility. The new facility is extended through a multi-year agreement and will provide for the company’s ongoing working capital needs.
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Spouting Rock Asset Management Acquires Majority Stake in Old Hill Partners
January 10, 2022Spouting Rock Asset Management (Spouting Rock), a multi-boutique manager platform providing investment solutions and services, is to merge with Old Hill Partners Inc (Old Hill), an alternative asset manager focused on asset-based lending transactions with small- and medium-sized businesses.
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Changes to the Organisation and the Executive Leadership Team of Danske Bank A/S
January 10, 2022As a next step in the ongoing transformation, Danske Bank will change the organisation to become even more customer-centric and enhance commercial focus as well as accelerate execution of our 2023 plan. Going forward, the commercial activities will be organised in three business units headed by Berit Behring, Christian Bornfeld and Johanna Norberg.
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Main Street Announces Follow-On Investments
January 10, 2022Main Street Capital Corporation (NYSE: MAIN) ("Main Street") is pleased to announce that it recently completed three new follow-on investments, totaling $15.8 million, in two existing portfolio companies, Direct Marketing Solutions, Inc. ("DMS") and Nebraska Vet AcquireCo, LLC (dba Heritage Vet Partners, P.C. or "Heritage").
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CVB Financial Corp. Announce Completion of the Merger with Suncrest Bank
January 10, 2022CVB Financial Corp. (the “Company”) announced today that the planned merger between CVBF’s wholly-owned banking subsidiary, Citizens Business Bank (“Citizens”), and Suncrest Bank (“Suncrest”) has been completed, effective at 6:00 p.m. (Pacific Standard Time) on January 7, 2022. Suncrest was merged with and into Citizens, in accordance with the terms and conditions of that certain Agreement and Plan of Reorganization and Merger (“Merger Agreement”), dated as of July 27, 2021, by and among the Company, Citizens and Suncrest.
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SFNet's The 81st Annual Convention Issue
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