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TSL Express Daily Articles & News
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Encina Lender Finance Provides $50 Million Senior Credit Facility To Crossroads Financial
Encina Lender Finance, LLC (“ELF”) announced today that it has provided a $50 million senior credit facility with an accordion feature for an incremental $50 million in potential capacity to Crossroads Financial LLC (“Crossroads”), the industry-leading provider of inventory only revolving credit facilities in the below $10 million size range to companies nationwide and the preferred partner to factoring companies and accounts receivable lenders. ELF’s credit facility closed simultaneously with a mezzanine debt facility from a different lender.
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First Internet Bank To Buy First Century Bancorp In $80 Mln Cash Deal
November 3, 2021First Internet Bancorp (INBK), the parent company of First Internet Bank, said on Tuesday that it signed a definitive agreement to acquire First Century Bancorp, the parent company of First Century Bank, N.A. for $80 million in cash.
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SMBC Nikko Securities America Hires Paul Spivack as Managing Director, Deputy Head of Capital Markets
November 3, 2021SMBC Nikko Securities America, Inc., a member of SMBC Group, today announced that Paul Spivack has joined the firm as Managing Director, Deputy Head of Capital Markets. In this role, he will work closely with the firm’s debt business, providing his advice and counsel to help drive further growth for this unit. He will report to Scott Ashby, Managing Director, Head of Capital Markets and Investment Banking, Senior Deputy President.
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ABL Aviation and Ellington Management Group Establish Joint Venture Targeting $800 Million in Aircraft Assets
November 3, 2021ABL Aviation, the global independent aircraft investment management firm, today announced that it has established a joint venture with Ellington Management Group (“Ellington”), an alternative investment manager, to opportunistically deploy capital across the global aviation industry and provide exposure to directly sourced deals.
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Winston & Strawn Represents Project Energy Reimagined Acquisition Corp.
November 3, 2021Winston & Strawn represented Project Energy Reimagined Acquisition Corp. (the "Company"), a special purpose acquisition company, in its $250 million initial public offering. The units began trading on The Nasdaq Global Market ("Nasdaq") under the ticker symbol "PEGRU" on October 29, 2021.
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Alleon Healthcare Capital Provides a $2,000,000 Medical Accounts Receivable Financing Facility to a Florida-Based Skilled Nursing Facility Operator
November 3, 2021Alleon Healthcare Capital ("Alleon"), a specialty finance company focused on providing healthcare accounts receivable financing, medical accounts receivable factoring, and cash flow solutions to medical providers in the U.S., recently closed a $2,000,000 medical accounts receivable financing facility with a skilled nursing facility operator
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Winston & Strawn LLP Represents RCG Global Services
November 3, 2021Winston & Strawn LLP represented RCG Global Services ("RCG" or the "Company"), a global digital transformation consultancy providing product engineering, advanced analytics, and cloud services to Fortune 1000 enterprises, has completed a majority recapitalization with Frontenac, a Chicago-based private equity firm.
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Ocean Bank Closes and Funds $2 Million Factoring Facility to Growing Frozen Food Distributor
November 3, 2021Ocean Bank announced its Factoring Division has closed and funded a $2 million factoring facility to Globalwing USA Corp., a Miami-based leading exporter of frozen meats and poultry.
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Moritt Hock & Hamroff (MHH) Welcomes Three Associates
November 3, 2021Moritt Hock & Hamroff (MHH) recently welcomed three new associates: Michael J. Borger, Johanna C. David and Grace Y. Lee. Borger and David joined the firm's Trusts and Estates practice group and are based in the firm's Garden City office. Lee joined the firm's Secured Lending practice group and is based in the firm's New York City office.
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Citizens Advises FT Synthetics on its Acquisition by GAF, a Portfolio Company of Standard Industries
November 3, 2021Citizens M&A Advisory announced today that it served as the exclusive financial advisor to FT Synthetics on its acquisition by GAF, a portfolio company of Standard Industries. FT Synthetics is a fully integrated manufacturer of coated woven fabrics, with a dedicated focus on developing industry-leading new and unique underlayment products designed for the steep slope roofing industry.
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Ryan Barringer Joins BizCap as Managing Director
November 2, 2021BizCap® (Business Capital since 2002), a national commercial finance and advisory firm, today announced it has hired Ryan Barringer as Managing Director, filling a key role on the company’s management team. Based in the San Francisco Bay Area, Ryan will be responsible for defining and executing on BizCap’s national growth strategy.
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Axis Announces Expansion of Senior Credit Facility to $120 Million
November 2, 2021Axis Auto Finance Inc. ("Axis" or the "Company"), (TSXV: AXIS) a fintech lender servicing the alternative auto finance market, announced today that it has expanded its senior secured credit facility, lowered its borrowing costs and increased the advance rate on the facility.
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Winston & Strawn Represents TKB Critical Technologies 1
November 2, 2021Winston & Strawn represented TKB Critical Technologies 1, a special purpose acquisition company, in its $200 million initial public. The units are listed on the Nasdaq Global Market (“Nasdaq”) and began trading under the ticker symbol “USCTU” on October 27, 2021.
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GTT Files for Chapter 11 to Implement Prepackaged Plan
November 2, 2021GTT Communications, Inc., “GTT” or “the Company,” a leading global cloud networking provider to multinational clients, announced today that the Company and certain of its direct and indirect subsidiaries have commenced prepackaged chapter 11 cases in the United States Bankruptcy Court for the Southern District of New York to effectuate a deleveraging of GTT’s capital structure. GTT’s foreign businesses and operations outside of the U.S. are not included in the filing and are unaffected by the chapter 11 cases.
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CBL Properties Exits Chapter 11
November 2, 2021CBL Properties (NYSE: CBL) today announced that it successfully completed its Chapter 11 reorganization. CBL emerged with a significantly improved capital structure, greater financial flexibility and a lowered cost of capital, positioning the company with a much-improved balance sheet and primed to pursue future growth opportunities.
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Allspring Global Investments Commences Operations As An Independent Global Asset Manager
November 2, 2021Allspring Global Investments™ today announced that the firm has officially commenced operations as an independent asset management firm. This marks the close of the previously announced acquisition of Wells Fargo Asset Management by GTCR LLC and Reverence Capital Partners, L.P.* The firm's new name, Allspring Global Investments (Allspring), takes effect today.
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CIBC Innovation Banking Provides $50 Million Debt Facility to Terminus to Accelerate Growth
November 2, 2021CIBC Innovation Banking is pleased to announce a debt facility of $50 million for Atlanta and Indianapolis-based Terminus Software (“Terminus”), a leading account based marketing platform. Terminus will use the capital to aid in M&A transactions, international expansion, and future product development. This includes its recent acquisition of Zylotech, a B2B customer data platform, now known as Terminus CDP.
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Farmers National Banc Corp. Completes Merger with Cortland Bancorp, Adds Two New Board Members
November 2, 2021armers National Banc Corp. (“Farmers” or the “Company”) (NASDAQ: FMNB), the holding company for The Farmers National Bank of Canfield (“Farmers National Bank”), announced today that it completed the merger of Cortland Bancorp (“Cortland”) (NASDAQ:CLDB), the holding company for The Cortland Savings and Banking Company (“Cortland Bank”), with and into FMNB Merger Subsidiary IV, LLC, a newly-formed, wholly-owned subsidiary of Farmers (the “Merger”).
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Norton Rose Fulbright Adds Highly Regarded Financial Services Partner in Washington, DC
November 2, 2021Global law firm Norton Rose Fulbright today announced that Tom Delaney has joined its Washington, DC office as a partner. With over 30 years of experience, Delaney is regarded as one of the leading financial services lawyers in the United States.
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Amerisource Closes $1,000,000 Credit Facility for Bioscience Firm
November 2, 2021Amerisource Business Capital announced the closing and funding of a $1,000,000 senior credit facility for a Texas-based Bioscience firm. The proceeds were used to support growth and working capital needs.
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Rosenthal Provides $500,000 Production Finance Facility For Florida-Based Laboratory Supply Company
November 2, 2021Rosenthal & Rosenthal, Inc., the leading factoring, asset-based lending and purchase order financing firm in the U.S., today announced the completion of a recent $500,000 purchase order finance facility to support the production financing requirements of a Florida-based importer of laboratory supplies.
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