- Victory Park Capital Announces New Warehouse Facility with Zip, Expanding Long-Standing Partnership
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Two Veteran Bankers Join Growing Asset Based Finance Team at U.S. Bank
U.S. Bank has hired two bankers with deep asset-based lending experience for its growing asset-based finance business. The hires are part of a strategy for the broader U.S. Bank Commercial Banking team to continue its expansion in Texas and across the country to better serve middle market clients.
Daniel Stampfel has joined the U.S. Bank Asset Based Finance division as a senior vice president. Based in Dallas, Stampfel will lead efforts to provide asset-based credit solutions for businesses across Texas. Mitch Rubin has also joined the U.S. Bank Asset Bank Finance division as a senior vice president. Based in New York City, Rubin will lead our efforts to provide asset-based credit solutions for businesses across the Northeast.
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CIBC Innovation Banking Expands New York Office with Strategic New Hires and Promotions
November 23, 2021CIBC Innovation Banking is pleased to announce the expansion of its New York City office with a series of new hires and promotions, as the group continues its strategic growth in key technology, life science, and clean tech markets in North America and the UK.
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Cambridge Savings Bank Provides GWA Auto Parts with $4M Credit Facility to Solve Inventory and Distribution Challenges
November 23, 2021Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and more than $5 billion in assets, today announced that its Asset-Based Lending team provided a $4M credit facility to GWA Auto Parts (GWA), an importer, distributor and online retailer of automotive aftermarket parts, to support working capital investments as the company pursues strategic growth through catalog expansion and M&A efforts.
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Redline Communications Inc. Announces New CDN$7,000,000 Credit Facility
November 22, 2021Redline Communications Group Inc. ("Redline Communications" or the "Company") (TSX: RDL), a leading provider of mission-critical data infrastructure for remote and harsh environments, announces today it has entered into a new credit agreement (the "Credit Agreement") with Edgepoint Wealth Management ("Edgepoint") and two existing investors.
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Gage Growth Corp. Announces US$55 Million Senior Secured Debt Financing
November 22, 2021Gage Growth Corp., a leading high-quality premium cannabis brand and operator in Michigan, today announced it has closed on a senior secured term loan (for aggregate gross proceeds of US$55 million. The placement was arranged by Canaccord Genuity Corp. and Chicago Atlantic as lead lender and administrative agent.
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White Oak Commercial Finance Delivers $3 Million Non-Recourse Factoring Facility to Women’s Apparel Manufacturer
November 22, 2021White Oak Commercial Finance, LLC (“White Oak”), an affiliate of White Oak Global Advisors, LLC, announced it provided a $3 million non-recourse advance factoring facility to a family-owned apparel manufacturer focused on delivering high quality and affordable clothing for women.
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FocalPoint New York Relocates to Accommodate Growth
November 22, 2021FocalPoint Partners, a fast-growing, Los Angeles-based, middle market investment bank, has relocated its New York office to 550 Fifth Avenue in Midtown Manhattan to accommodate accelerated growth.
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Bitcoin Miner GRIID Secures $525M Credit Facility from Blockchain.com
November 22, 2021GRIID Infrastructure, a vertically-integrated bitcoin self-miner, today announced it has secured a $525 million credit facility from Blockchain.com, one of the world's oldest and most trusted cryptocurrency platforms with over $5 billion in loan originations. GRIID specializes in procuring low-cost, carbon-free energy to build, manage, and operate a growing portfolio of U.S. based bitcoin mining facilities.
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Simmons First National Corporation and Spirit of Texas Bancshares, Inc. Announce Intent to Merge
November 22, 2021Transaction will significantly enhance Simmons’ scale in the Lone Star State; complement existing footprint while expanding into high-growth metro markets - Austin, Houston, San Antonio, Corpus Christi and Bryan-College Station
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Wolters Kluwer Names Winners of Its 2021 Community Impact Award
November 22, 2021Wolters Kluwer Compliance Solutions has named Illinois-based Wintrust Financial Corporation (Wintrust) (Nasdaq: WTFC) and Armed Forces Bank (AFB), headquartered in Leavenworth, Kansas, as winners of its 2021 Community Impact Award. The announcement was made at the company’s 25th annual CRA & Fair Lending Colloquium held Nov. 16-17. The award honors financial institutions for the breadth and innovative application of community development programs to benefit low- and moderate-income communities in which they do business.
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Digital Realty Completes Refinancing with New Sustainability-Linked Global Revolving Credit Facilities
November 22, 2021Digital Realty (NYSE: DLR), the largest global provider of cloud- and carrier-neutral data center, colocation and interconnection solutions, announced today it has amended, extended, and upsized its existing global revolving credit facility from $2.35 billion to $3.0 billion.
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New Fintech Platform Increases Approvals for Business Lines of Credit
November 22, 2021New York City-based fintech firm, Iron Capital Equities, rolls out a bank application database system on www.lineofcreditdepot.com, that gives small businesses a better chance at receiving a bank's approval for a line of credit. The proprietary software allows for a single application to cross reference hundreds of local and national banks underwriting criteria.
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IDB Bank’s Syndication Platform Enables Merchant Financial Group to Expand its Credit Facility to $400 Million
November 22, 2021Merchant Financial Group, a leader in providing working capital solutions for innovative businesses, announced today the expansion of its existing credit facility from $372 million to $400 million to support the company's growth and expansion of its financial services. The expansion involves a syndicate of 14 lenders, with IDB Bank operating as the Administrative and Collateral Agent on the transaction.
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Investors Bancorp, Inc. Announces Shareholder Approval of Citizens Financial Group, Inc. Merger
November 22, 2021Investors Bancorp, Inc. (NASDAQ: ISBC) (the "Company") announced that stockholders of the Company approved the planned merger with Citizens Financial Group, Inc at a special meeting of the Company's stockholders held earlier today. The transaction is expected to close in the first half of 2022, subject to the receipt of required regulatory approvals and other customary closing conditions.
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Oaktree Closes Opportunities Fund XI at $16 Billion
November 22, 2021Oaktree Capital Management, L.P. (“Oaktree”) today announced the successful final close of Oaktree Opportunities Fund XI and its related vehicles (“Opps XI” or “the Fund”), with total capital commitments of $15.9 billion. Opps XI is Oaktree’s largest fund in history, exceeding its original target of $15 billion.
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Espresso Capital Closes $200 Million Credit Facility led by KeyBank
November 22, 2021Espresso Capital announced today that it has closed a $200 million credit facility from KeyBank, one of the largest bank-based financial services companies in the United States. A leading provider of innovative venture debt solutions, Espresso will use the facility to further expand its lending activities to high-growth technology and healthcare companies.
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Winston & Strawn Represents The Care Team
November 22, 2021Winston & Strawn represented The Care Team ("TCT"), a prominent hospice and home health provider operating across the states of Michigan and Texas, in its acquisition of Arcadia Hospice of SEPA, LLC ("Arcadia"), a hospice provider based in Allentown, Pennsylvania.
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Holley Inc. Announces a New $825 Million Credit Facility
November 22, 2021Holley Inc. (NYSE: HLLY), the largest and fastest growing platform in the enthusiast branded performance automotive aftermarket category, today announced the successful refinancing of its 2018 credit facility with a new $825 million credit facility. The new facility is comprised of seven-year $600 million first-lien term loan, a five-year $125 million revolving credit facility, and a $100 million delayed draw term loan.
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BridgeBio Pharma, Inc. Secures Up to $750 Million in Non-Dilutive Debt Financing
November 22, 2021BridgeBio Pharma, Inc. (Nasdaq: BBIO) (BridgeBio or the Company), a commercial-stage biopharmaceutical company focused on genetic diseases and cancers, today announced that it has executed a definitive credit facility agreement with a syndicate of lenders for up to $750.0 million in financing. Morgan Stanley & Co. LLC acted as the sole placement agent to BridgeBio on this transaction. Latham & Watkins LLP acted as counsel to BridgeBio.
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Brandon J. Smith Joins Peapack Capital as Senior Vice President, Head of Asset Management
November 22, 2021Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC) and Peapack-Gladstone Bank announce the appointment of Brandon J. Smith, Senior Vice President, Head of Asset Management, at Peapack Capital, a subsidiary of Peapack-Gladstone Bank. Based out of the Bank’s Short Hills, NJ location, Brandon is responsible for all aspects of the asset management function at Peapack Capital including equipment valuations and reviews, portfolio analyses, end of lease negotiations, equipment inspections and dispositions.
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Kafene Secures $75 Million To Accelerate Growth
November 22, 2021Kafene, a fintech company bringing innovation to a key segment of the point-of-sale financing market, has secured $75 million in additional debt and equity to accelerate company growth. The package included a $50 million credit facility from Credit Suisse, a leading global investment bank and financial services firm, with an additional $10 million provided by Hudson Cove Capital Management, an alternative credit asset manager.
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