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TSL Express Daily Articles & News
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Gordon Brothers Expands Capital Base to Over $1 Billion with New CPP Investments Financing
Gordon Brothers, the global advisory, restructuring and investment firm, has received $300 million in financing from Canada Pension Plan Investment Board (CPP Investments) through its subsidiary CPPIB Credit Investments Inc., increasing the firm’s capital base to over $1 billion.
This financing will fuel the continued rapid growth of the firm’s capital offerings, which generated over $700 million in originations worldwide in 2021, building on billions of assets traded and financed in recent years.
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SFNet's International Lending Conference Examined Critical Issues, Explored Opportunities, Relating to Cross-border Lending
The Secured Finance Network (formerly Commercial Finance Association) held its 13th Annual International Lending Conference at DLA Piper in London, May 21-23. Attendees heard from a variety of leaders discussing the critical issues and opportunities relating to cross-border lending including looming economic upheaval, potential recession and geopolitical uncertainty.
TSL Express Daily Headlines & News
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Prestige Capital Leads a Coalition of 5 Finance Companies to Provide $100M in Capital to Address Urgent Health Care Staffing Needs Across the Nation
May 12, 2022Prestige Capital has a long history of providing funds to companies to address immediate working capital needs. In 2018, Prestige Capital provided a $3M factoring facility to a west coast staffing company providing both temporary and permanent staffing. A little more than a year later this client graduated from the Prestige Capital program and was able to secure financing from a traditional bank.
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J D Factors Announces Factoring Facilities
May 12, 2022J D Factors announced it provided the following factoring facilities: $100,000 to a transportation company in Ontario; $150,000 to a transportation company in Florida; $1,000,000 to a transportation company in Quebec; $500,000 to a transportation company in Alberta and $300,000 to a transportation company in Ontario.
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Wintrust Receivables Finance Announces the Closing of a $19,500,000 Line of Credit to a Hospitality Staffing Firm
May 12, 2022Wintrust Receivables Finance (WRF) is pleased to announce the closing of a new $19,500,000 credit facility for this Midwest-based provider of hospitality staffing. The company specializes in the recruitment and placement of hospitality professionals. The Company's clients include corporate dining companies, country clubs, hospital food service companies, special events centers, stadiums, and hotels.
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BNP Paribas and Northland Power Partner With Export Development Canada to Close Sustainability-Linked LC Facility for Renewable Power Projects
May 10, 2022BNP Paribas, a leading global bank, announced today that it has recently closed an amendment to add sustainability-linked incentives to its Letter of Credit (“LC”) Facility with renewable power producer, Northland Power Inc. (“Northland”).
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Unity Bank Names Industry Veteran Donovan Chief Lending Officer
May 10, 2022Unity Bank on Monday said industry veteran Jim Donovan joined the Clinton-based community bank as chief lending officer, bringing more than 35 years of financial services industry leadership experience to the financial institution.
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First Business Bank’s Asset-Based Lending Group Funds $7 Million Credit Facility
May 10, 2022Brian Banning, Vice President – Asset-Based Lending at First Business Specialty Finance, LLC, a subsidiary of First Business Bank, announces a recently closed and funded $7 million revolving credit facility for an auto industry die manufacturer seeking to refinance.
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Winston & Strawn Represents Investcorp India Acquisition Corp
May 10, 2022Winston & Strawn represented Investcorp India Acquisition Corp (NASDAQ: IVCAU), a newly incorporated blank check company, which has announced the pricing of its initial public offering of 22,500,000 units at a price of $10.00 per unit. The units will be listed on the Nasdaq Global Market (“NASDAQ”) and are expected to trade under the ticker symbol “IVCAU” beginning on May 10, 2022.
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MidCap Business Credit LLC Completes a $15 Million Credit Facility to Walker Midwest, LLC and Walker West, LLC
May 10, 2022MidCap Business Credit LLC, announced that it has completed a $15 million asset-based credit facility to Walker Midwest, LLC and Walker West, LLC formed to acquire the assets of Millenia Products Group Inc., and WAC LLC, pursuant to an Article 9 UCC sale. The Company, headquartered in Itasca, IL, is a manufacturing and steel service business providing metal fabrication, stamping and roll forming services to OEM leaders in the automotive, solar, tool storage and electronics industries throughout the US and Canada.
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Express Trade Capital Completes $3.2 Million Trade Finance Facility
May 10, 2022When a well-established and long-term client needed to execute a Trade Finance transaction within 48 hours in order to take advantage of an extremely profitable purchase opportunity, they knew the financier to turn to Express Trade Capital.
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BankUnited Hires Commercial Real Estate Banking Executive Serving Southeast Region of U.S. from New Atlanta Office
May 10, 2022BankUnited, N.A., a wholly-owned subsidiary of BankUnited, Inc. (NYSE: BKU), has announced the hiring of Nate Seymour as market executive, southeast commercial real estate banking, based in the bank’s new Atlanta wholesale banking office.
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Wolters Kluwer Launches OmniVault for Real Estate Finance
May 10, 2022Wolters Kluwer Compliance Solutions has today launched its OmniVault for Real Estate Finance solution. OmniVault for Real Estate Finance uses the company’s industry-leading, multi-award winning eVault technology to support digital home equity lending, both HELOCs and home equity loans, in addition to already supported conventional, U.S. government and jumbo first mortgages.
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36th Street Closes $14 Million Funding for EV Components Manufacturer
May 10, 202236th Street Capital announced it recently served as lessor of record and servicer for a $40 million equipment financing of manufacturing equipment dedicated to production of electric vehicle components. 36th Street funded $14 million for its own account, with other financial institutions rounding out the transaction.
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Winston & Strawn Adds Corporate Partner Sean F. Hilson in Chicago
May 10, 2022Winston & Strawn LLP announced today the addition of Sean F. Hilson as a partner in the firm's Chicago office and as a member of the firm's Corporate practice.
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Deerpath Capital Closes Fifth Collateralized Loan Obligation
May 10, 2022Deerpath Capital Management, LP, one of the largest providers of customized, cash-flow based senior debt financing to lower-middle market companies across North America, today announced the closing of Deerpath CLO 2022-1, a $375 million collateralized loan obligation (CLO).
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Guess?, Inc. Announces New EUR 250 Million European Credit Facility With Sustainability-Linked Component
May 10, 2022Guess?, Inc. (NYSE: GES) today announced that it has entered into a €250 million revolving credit facility through its wholly-owned Swiss subsidiary, Guess Europe Sagl. The facility has an initial term of five years, with an option to extend the maturity date by up to two years and an option to expand the facility by up to €100 million, subject to certain conditions.
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Wingspire Capital Appoints Doug Sylvia as Chief Risk Officer For Wingspire Equipment Finance
May 10, 2022Wingspire Capital LLC has appointed Doug Sylvia to the newly created role of Chief Risk Officer for its Wingspire Equipment Finance platform (“WEF”). Wingspire recently launched WEF to provide flexible equipment finance solutions for middle market customers in manufacturing, industrial, construction, truck/trailer, marine, shipping ports, technology/communications and other sectors.
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U.S. Bank, LiquidX Collaborate to Simplify, Accelerate Supply-chain Financing
May 10, 2022U.S. Bank announced today that it has entered into a collaboration agreement with trade-finance fintech LiquidX to help expedite and simplify supply-chain transactions between suppliers and buyers. This collaboration – which comes at a time of unparalleled stress in the global supply chain – will pair the bank’s strong balance sheet with LiquidX’s streamlined platform technology to help address supply-chain- finance friction and cash-flow challenges facing many companies.
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AGI Announces Credit Facility Expansion and Amendment of Terms
May 9, 2022Ag Growth International Inc. (TSX: AFN) (“AGI” or the “Company”) is pleased to announce the upsizing and amendment of our revolving credit facilities. AGI’s revolving credit facilities have been increased by approximately $150 million Canadian dollar equivalent. As part of the agreement, the Series B and C Notes, with a principal amount owing of approximately $57 million Canadian dollar equivalent, will be concurrently retired through the expanded credit facilities.
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Standard Bariatrics Secures $7MM Debt Facility With Silicon Valley Bank
May 9, 2022Silicon Valley Bank is a leading investment bank partnering with innovative healthcare and technology companies. Under the terms of the new debt facility, SVB will make loans available in two tranches. The first tranche of $4 million was received at closing of which $0.4 million was used to retire existing debt. The second tranche of $3 million will be available through June 30, 2023, upon achieving certain milestones.
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Summar Financial Welcomes Luis Mondragon to its International Factoring Team
May 9, 2022Summar Financial, in its ongoing effort to help Latin American exporters finance their growth, is pleased to announce the hiring of Luis Mondragon as its new Vice President of International Factoring Sales. For more than twenty-five years, Luis has successfully managed sales teams in financial companies; He is also an expert in international management in sectors such as services, packaging, and fast-moving consumer goods.
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