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- eCapital Provides $30MM Healthcare Receivables Financing Facility to Leading Multi-State Post-Acute Care Provider
- Flatbay Capital Provides $2.5MM CRE Bridge Loan to Commercial Fleet Repair Shop
- Universal Technical Institute, Inc. Announces New Revolving Line of Credit Agreement with Fifth Third Bank, JPMorganChase, Truist, Citi and PNC
- EXL Closes New $1 Billion Senior Secured Credit Facility
TSL Express Daily Articles & News
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Second Avenue Capital Partners Closes On A Senior Secured Credit Facility For myGemma
Second Avenue Capital Partners, LLC (“SACP”) (www.secondavecp.com) announced it has closed on a $10,000,000 senior secured credit facility (which includes an accordion feature) for myGemma, a modern and professional alternative for consumers wanting to buy or sell high-end luxury goods. The credit facility will be used to support increased working capital and additional inventory purchases as the business continues to rapidly grow.
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Interview with BMO’s Michael Ganann and Mike Scolaro
In May, BMO Harris Bank announced that it had hired Michael Ganann as Managing Director, Retail Originations, Asset-Based Lending. In this role, he will lead the coverage efforts in calling nationwide on BMO clients and prospects in the retail industry.
TSL Express Daily Headlines & News
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Inland Bank and Trust Closes $1.6 Million Commercial Term Loan for Maryland and Montana Financial Advisor Practice
June 2, 2022Inland Bank and Trust (“Inland Bank”) is pleased to announce the closing of two commercial term loans totaling $1.6 million for an Inland Bank Financial Advisor Loan Program client with offices in Maryland and Montana. Tiffany Tyson, vice president – commercial lending with Inland Bank, originated both loans.
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U. S. Steel Extends Sustainability-Linked ABL Credit Facility
June 2, 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”). JPMorgan Chase Bank, N.A. acted as Administrative Agent and Collateral Agent. J.P. Morgan Securities LLC and ING Capital LLC acted as Joint Sustainability Structuring Agents in connection with the U. S. Steel sustainability-linked ABL.
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Wolters Kluwer’s Suzanne Konstance named a Women in Secured Finance 2022 honoree
June 2, 2022Suzanne Konstance, Vice President and Leader of Wolters Kluwer Compliance Solutions’ Lien Solutions group, has been named to the Secured Finance Network’s list of “2022 Women in Secured Finance.” The recognition program, which is free to enter, included a recently published Q&A of honorees in SFNet’s monthly publication, The Secured Lender, with Konstance among this year’s featured “Leading the Way Forward” inductees
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Houlihan Lokey Expands Its Financial and Valuation Advisory Business in India
June 2, 2022Houlihan Lokey (NYSE:HLI), the global investment bank, announced today that Rishi Aswani has joined the firm’s Financial and Valuation Advisory (FVA) business in Mumbai as a Managing Director in the Portfolio Valuation and Fund Advisory Services practice.
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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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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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