- PNC Receives Regulatory Approvals for Acquisition of FirstBank
- Brean Capital to Acquire Depository & Insurance Investment Banking, Equity Research, and Institutional Equity Sales Businesses from Janney Montgomery Scott
- SouthStar Capital Funds $2 Million Invoice Factoring Facility for Growing U.S. Manufacturer
- Eagle Point Closes $30 Million Financing with Circular Services
- Spirit Airlines Gets $100 Million Lifeline Amid Restructuring
TSL Express Daily Articles & News
To submit company news and press releases toTSL Express, email tslexpress@sfnet.com.
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Northpoint Commercial Finance Asset Based Lending Hires Industry Veteran Robert Parks
Northpoint Commercial Finance Asset-Based Lending announced that industry veteran Robert J. Parks has joined as a Business Development Officer. Based in Southern California, he will be responsible for new business origination throughout North America, deepening borrower and referral relationships.
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TSL Express Daily Headlines & News
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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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Crown Partners Arranges $8 Million in Senior Debt for Boston Battery, LLC
November 2, 2021Crown Partners LP, a debt advisory firm specializing in senior credit facilities and loan products for US companies, announced the closing of an $8.0 million credit facility consisting of a $5.0 million revolving line of credit, $2.5 million real estate term loan and a $500K CapEx line of credit, for Boston Battery, LLC and its subsidiary companies.
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eCapital Hires Brian Cuttic as Managing Director, Asset-Based Lending
November 1, 2021Cuttic joins the company from Synovus Bank in the southeast, where he developed an ABL program and was instrumental is overseeing significant growth. Before that, he was part of the founding senior management team that started Veritas Financial Partners, which was sold to the White Oak Group in 2019. He also held senior positions in ABL at First Capital and Capital Business Credit, both in Atlanta.
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MarketWise Announces $150,000,000 Revolving Credit Facility
November 1, 2021With HSBC Bank USA, N.A. and BMO Capital Markets Corp. as joint lead arrangers and joint bookrunners, the syndicate bank group includes BMO Harris Bank N.A., Silicon Valley Bank, Wells Fargo Bank, N.A., and PNC Bank National Association. HSBC Bank USA, N.A. is the administrative agent.
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Brightwood Capital Advisors Anchors Senior Secured Term Loan to Finance Acquisition of Longtime Portfolio Company ECP-PF Holdings Group
November 1, 2021Brightwood Capital Advisors, a leading private credit firm focused on providing capital to growing North American middle-market businesses, announced that it supported the sale of portfolio company ECP-PF Holdings Group, one of the nation's largest Planet Fitness franchisees, to TowerBrook Capital Partners, an international investment management firm.
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Oak Valley Bancorp and Oak Valley Community Bank Appoint New Director
November 1, 2021On November 1, 2021, Gary Strong accepted his appointment to the Boards of Directors of Oak Valley Bancorp (the “Company”) [NASDAQ: OVLY] and its wholly owned subsidiary Oak Valley Community Bank (the “Bank”). Strong is the Chief Executive Officer of the California Gold Country Region of the American Red Cross and has served in this role since 2015. In this position, he leads the Sierra Delta and Northern California Chapters, which include more than 2,000 volunteers and 40 employees who respond to nearly 800 local disasters each year and serve close to four million residents in 26 counties.
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Marc L. Hamroff to Speak at SFNet 77th Annual Conference
November 1, 2021Moritt Hock & Hamroff (MH&H) is pleased to report that the Firm’s managing partner, Marc L. Hamroff, will be speaking at the upcoming SFNet Annual Convention. Now in its 77th year, the Convention brings together secured lenders and their allied service providers for two days of networking and learning. The 2021 Convention is taking place in Phoenix, AZ from Nov. 3-5.
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Republic Provides a $3 Million Asset Based Loan for a Manufacturing Company
November 1, 2021The company sought a growth-orientated ABL facility that would unconditionally support their growth and post-COVID business renewal plans. The company is a promotional products manufacturer that services large fortune 1,000 companies across the automotive, technology, finance, energy and retail industries throughout the US.
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PlainsCapital Bank’s Coastal Bend Commercial Lending Team Welcomes David Barganski
November 1, 2021Barganski has more than 22 years of financial services and entrepreneurial experience. Prior to joining PlainsCapital, Barganski spent eight years overseeing two restaurants in the Coastal Bend area. Under Barganski’s leadership, both restaurants received performance-based Champions Circle awards for three consecutive years. Before his time as an entrepreneur, he served as senior vice president at BBVA Compass for more than eight years.
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PopReach Announces Amendment to Credit Facility
November 1, 2021PopReach Corporation ("PopReach" or the "Company") (TSXV: POPR) (OTCQX: POPRF) today announced that it has entered into an amendment to its US$7.5 million senior secured credit facility (the "Facility") with a leading Canadian Schedule I Bank, to modify certain aspects of the agreement.
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Lear Increases and Extends Its Revolving Credit Facility
November 1, 2021Lenders under the new credit agreement include JPMorgan Chase Bank, N.A., BofA Securities, Inc., Barclays Bank PLC, Citibank, N.A. and HSBC Bank USA, N.A.
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SFNet's The 81st Annual Convention Issue
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