- Itafos Enhances Financial Flexibility and Liquidity with an Amendment and Extension of its Existing Credit Facilities
- Mountain Ridge Capital Promotes Dylan Walter to VP, Originations
- Siena Lending Group LLC Announces the Closing of a $52.5 Million Credit Facility for Food Distribution Company
- Trafigura Secures USD4.4 Billion Syndicated Revolving Credit Facility and Term Loan Facilities
- Oaktree Asset-Backed Finance Fund Closes at $2 Billion
TSL Express Daily Articles & News
To submit company news and press releases to TSL Express, email tslexpress@sfnet.com.Today's Top Story
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CIBC Innovation Banking Announces $35M Growth Capital Financing for Impartner
CIBC Innovation Banking is pleased to announce $35 million of growth capital financing to Salt Lake City-based Impartner Inc. (“Impartner”), a leading partner relationship management (PRM) platform. Impartner plans to use the financing to increase its investments across sales & marketing, go-to-market strategy, and research & development to further accelerate its growth momentum.
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Securing an Asset-Based Loan with the Borrower in the Driver’s Seat
Corporate entities often turn to asset-based lending (ABL) as a strategic way to fund acquisitions, reduce capital volatility inherent in cash flow structures, or simply to accelerate growth. Secured by company assets, this alternative path to cash flow financing has historically followed the same process: companies choose a lending institution based on the most attractive deal structure, accept its deal terms, and undergo a field exam and asset appraisal to determine the appropriate borrowing terms.
TSL Express Daily Headlines & News
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Republic Business Credit Provides $5 Million Direct to Consumer Asset-Based Loan to Retail Confectionary Manufacturer
July 25, 2022When a portfolio company of a California-based private equity firm sought to refinance and upsize its existing asset-based lending facility, the company partnered with Republic Business Credit. Republic provided a scalable, flexible and growth-orientated $5 million credit facility with full availability on retail inventory, wholesale inventory, merchant accounts and direct to consumer proceeds.
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The Bancorp Appoints Timothy Green as New Head of Fintech Lending
July 25, 2022Today, The Bancorp Bank, the wholly-owned banking subsidiary of The Bancorp, Inc. (NASDAQ: TBBK), announced that the Company has hired Timothy Green as Managing Director, Head of Fintech Lending. In this new role within The Bancorp Fintech Solutions division, Green will play an instrumental part in the development and execution of the Bank’s fintech lending strategy.
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CIT Commercial Services Promotes Tony Cheng to VP Client Service Officer
July 25, 2022CIT, a division of First Citizens Bank, is pleased to announce that Tony Cheng will now be serving as vice president, client service officer in its Commercial Services business. Cheng is based in Los Angeles and will be the primary contact for several clients in the Western Region.
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SLR Equipment Finance Expands its Business Development Capabilities and Announces that Gianna Priolo has Joined the Company
July 25, 2022SLR Equipment Finance is pleased to announce Gianna Priolo has joined as a vice president of Business Development. In her role, Gianna will help grow SLR Equipment Finance’s leasing and lending activities with equipment dealers along the east coast of the U.S where she established relationships with manufacturers and major dealers across the country. Gianna was most recently with DLL Finance.
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PNC Bank Regional President Brian Bucher To Retire, Chris Kalin Named Regional President For North Florida
July 25, 2022PNC Bank has announced Brian Bucher will retire as regional president for North Florida effective Oct.7 following a distinguished 40-year career in financial services. Succeeding him will be PNC Senior Vice President of Corporate Banking and former BBVA USA executive Chris Kalin.
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Squire Patton Boggs Wins Turnaround of the Year Award for Ferrellgas Partners Restructuring
July 25, 2022Squire Patton Boggs has won the ‘Turnaround of the Year Award (large)’ for its innovative work on the Ferrellgas Partners pre-packaged chapter 11 restructuring. The Turnaround Atlas Awards, presented by Global M&A Network, recognize the best value-creating transactions, outstanding firms, professionals and leaders from the global restructuring, insolvency, and distressed investing communities.
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Gritstone Establishes Credit Facility for Up to $80 Million with Hercules Capital and Silicon Valley Bank
July 25, 2022Gritstone bio, Inc. (Nasdaq: GRTS), a clinical-stage biotechnology company that aims to develop the world’s most potent vaccines, today announced it has entered into an $80 million credit facility with Hercules Capital, Inc. (NYSE: HTGC) and Silicon Valley Bank.
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Comvest Credit Partners Announces Investment in Fat Tuesday
July 25, 2022Comvest Credit Partners (“Comvest”), a leading provider of flexible financing solutions to middle-market companies, has acted as Administrative Agent in providing a $105 million senior secured credit facility (the “Financing”) to Fat Tuesday (or the “Company”), one of the nation’s largest off-premise specialty beverage providers. The Financing will be used to fund the Company’s strategic acquisitions and business growth.
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B. Riley Earns Multiple Turnaround Atlas Awards in Recognition of Best Value-Creating Transactions
July 25, 2022B. Riley Financial, Inc. (NASDAQ: RILY), a diversified provider of business advisory and financial services, today announced it earned multiple awards at the 14th Annual Turnaround Atlas Awards. Presented by Global M&A Network, the Turnaround Atlas Awards recognize the best value-creating transactions, outstanding firms, professionals and leaders for their significant achievements in restructuring, insolvency, and distressed investing.
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TAB Bank Provides Electric Bike Company in Utah with a $10 Million Asset-Based Credit Facility
July 21, 2022TAB Bank is pleased to announce it has provided an electric bike company in Utah with a $10 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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VoltaGrid Closes Revolving Credit Facility to Advance its Carbon Reduction Power Generation and Fuels Platform
July 21, 2022VoltaGrid LLC ("VoltaGrid" or the "Company") today announced that the Company has entered into a senior secured revolving credit facility (the "Facility"). The Facility provides the Company immediate access to USD 60 million, and up to USD 150 million under certain conditions. BMO Capital Markets is acting as administrative agent for the Facility.
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J D Factors Announces Factoring Facilities
July 21, 2022J D Factors announced it has provided the following factoring facilities: $120,000 to a transportation company in California; $300,000 to a transportation company in Manitoba; $100,000 to a transportation company in Ontario; $350,000 to a transportation company in Illinois...
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Assembled Brands Announces an Increased Facility with its Longtime Partners at Linksoul
July 21, 2022Assembled Brands announced it has increased its facility with its longtime partners at Linksoul, a premium golf brand that specializes in high-quality sports gear and apparel. Co-founded by John Ashworth and run by an experienced team, Linksoul consists of a group of people that have been in men’s lifestyle clothing industries (golf and surfing) for decades. The brand offers golf apparel and gear with a strong focus on a healthy balance of work and leisure, family/community, and nature.
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Gridiron Capital Bolsters Centers of Excellence with the Addition of Alison Watts
July 21, 2022Gridiron Capital, LLC, an investment firm focused on partnering with founders, entrepreneurs, and management teams, is pleased to announce that Alison Watts has joined as Gridiron’s latest Operating Partner. Alison has extensive experience as a finance executive and CFO with more than 20 years of experience in financial management and strategy. Alison will be a great resource as Gridiron continues to build expertise within its Centers of Excellence.
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White Oak Acts as Lead Arranger in $130 Million Term Loan to Support Balmoral Funds’ Take-Private Acquisition of Trecora Resources
July 21, 2022White Oak Global Advisors LLC (“White Oak”) announced today it acted as the lead arranger for a $130 million senior secured term loan to Trecora Resources ("Trecora"), a Texas-based provider of petrochemicals, petrochemical manufacturing products and specialty waxes. Proceeds from the loan were used to consummate a take-private transaction by Balmoral Funds (”Balmoral”). Balmoral is a $1.5 billion AUM private equity firm managing committed funds, based in Los Angeles, CA.
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BMO to Acquire Calgary-based Radicle Group Inc., a Leader in Environmental Services
July 21, 2022BMO Financial Group (NYSE: BMO) (TSX: BMO) today announced that it has entered into a definitive agreement to acquire Radicle Group Inc., a Calgary-based leader in sustainability advisory services and solutions, and technology-driven emissions measurement and management.
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Latham & Watkins Represents Paddock Enterprises, LLC In Successful Emergence From Chapter 11
July 21, 2022Multidisciplinary team advised on the debtor’s Chapter 11 case and consensual section 524(g) plan of reorganization that provides for cash and other consideration totaling US$610 million funded to an Asbestos Trust to resolve legacy liabilities.
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Hansa Biopharma Announces $70 Million Non-dilutive Product Finance Transaction With NovaQuest to Support Continued Development of the Company's Antibody-cleaving Enzyme Technology Platform
July 21, 2022Hansa Biopharma AB, (Hansa), (Nasdaq Stockholm: HNSA), a pioneer in enzyme technology for rare immunological conditions, today announces that the Company has entered into an agreement with U.S.-based NovaQuest Capital Management, securing $70 million in non-dilutive financing.
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Monroe Capital Hires Matthew Rosenberg to Head Media Vertical
July 21, 2022Monroe Capital LLC (“Monroe”) today announced Matt Rosenberg has joined the firm as Managing Director, Head of Media Finance. Matt will be responsible for originating new investments across the capital structure for acquisition, growth financing and recapitalizations for the media and entertainment industry, which includes film, television, music, talent representation, digital media, and intellectual property.
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M&A Investors Need to Optimize the Real Estate of Companies They Buy and Sell, Advise A&G Co-Presidents
July 20, 2022M&A investors can achieve higher returns by being more strategic about the real estate of the companies they buy and sell, advise the co-presidents of A&G Real Estate Partners in the July/August issue of Mergers & Acquisitions.
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