- Origis Energy Closes $290 Million Financing for Swift Air Solar II and III Projects with Natixis CIB and Santander
- SFNet New Member Spotlight: Cascade Credit Services, LLC
- Siena Lending Group Provides $60 Million in Working Capital Facilities to Taskmaster Components
- Eclipse Business Capital Closes $65 Million Senior Secured Credit Facility to Food & Beverage Industry
- Sallyport Commercial Finance Provides a $1 Million Factoring Facility for a Growing Canadian Manufacturer
TSL Express Daily Articles & News
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SPH Group Holdings LLC, Steel Excel Inc. and IGo, Inc. Announce Amended and Restated Credit Agreement with PNC Bank, National Association
On December 29, 2021, SPH Group Holdings LLC, Steel Excel Inc. and IGo, Inc. (collectively, the "Borrowers"), each an indirect wholly-owned subsidiary of Steel Partners Holdings L.P. (the "Company"), amended and restated its Prior Credit Agreement (as defined below) with an amended and restated credit agreement (the "New Credit Agreement"), with PNC Bank, National Association, in its capacity as administrative agent, the Lenders party thereto, and certain of the Borrowers' affiliates in their capacities as guarantors (the "Guarantors" and, together with the Borrowers, the "Loan Parties"). Capitalized terms used but not otherwise defined herein shall have the meanings ascribed to such terms in the New Credit Agreement.
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Gulfport Energy Corporation Announces Amended and Restated Credit Facility
October 14, 2021Gulfport Energy Corporation (NYSE: GPOR) (“Gulfport” or the “Company”) today announced that it has entered into the Third Amended and Restated Credit Agreement (“Amendment”), which amends and refinances the Company’s Credit Agreement, dated as of May 17, 2021. The Amendment was provided by a syndicate of 14 financial institutions, including JPMorgan Chase Bank, N.A., as administrative agent.
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Chorus Aviation Announces new Three-year Committed Operating Credit Facility
October 14, 2021horus Aviation Inc. ("Chorus") (TSX: CHR) announced today that it has entered into an agreement for a three-year committed operating credit facility (the "New Facility") with The Bank of Nova Scotia ("Scotiabank") as lender, sole lead arranger, bookrunner, administrative agent and issuing bank, and the Canadian Imperial Bank of Commerce ("CIBC") and the Bank of Montreal as lenders.
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Crestmark, the Commercial Finance Division of MetaBank®, Provides More Than $47.6 Million in Commercial Financing to 75 Businesses in the Second Half of September
October 14, 2021Crestmark, the Commercial Finance Division of MetaBank®, N.A., secured a total of $21,807,000 in ABL/factoring financial solutions for nine new clients; Crestmark Equipment Finance provided $16,943,798 in 12 new transactions; Crestmark Vendor Finance provided $4,584,629 in 48 new transactions; and the Government Guaranteed Lending group provided $4,290,000 in financing for six new clients in the second half of September.
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Assembled Brands Announced a $3 Million Increased Facility with Longtime Partner Linksoul
October 14, 2021Assembled Brands is thrilled to announce an increased facility of $3 million with golf and lifestyle brand Linksoul. 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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FocalPoint Advises 8020 Consulting on its Recapitalization by ShoreView Industries
October 14, 20218020 Consulting, LLC (“8020” or the “Company”) has received an investment from ShoreView Industries (“ShoreView”). Specific terms of the transaction were not disclosed. FocalPoint Partners (“FocalPoint”) served as the exclusive financial advisor to 8020 on the transaction.
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Riverbed Announces Restructuring Support Agreement with Its Lenders and Equity Sponsors, Strengthens Financial Position Through New Capital and Reduces Debt by Over $1 Billion
October 14, 2021Riverbed Technology (“Riverbed” or the “Company”) today announced that, as part of its efforts to proactively strengthen the Company’s financial position, it has entered into a Restructuring Support Agreement (the “RSA”) with its equity sponsors and an ad hoc group of lenders (the “Ad Hoc Group”) holding a super-majority of its funded secured debt regarding the terms of a comprehensive financial restructuring that will reduce its funded secured debt by over $1 billion and provide a $100 million cash infusion, $65 million of which is available immediately, to position the Company for long-term success (the “Recapitalization”).
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Cerebro Capital Bolsters Leadership Team with Two Executive Hires
October 14, 2021Cerebro Capital, a commercial loan marketplace, today announced the appointment of Chris Dalo as Executive Vice President and Michele Hsu as Vice President of Marketing. Together, Hsu and Dalo will build out Cerebro's business development and marketing to support new client demands.
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RDM Capital Funding Announces Company Rebrand as FinTap
October 14, 2021RDM Capital Funding LLC, a technology enabled specialty finance company, announced that they are formally rebranding as FinTap. The rebrand is part of RDM's growth strategy and comes after the company closed its up to $50 million credit facility with Arena Investors, marking a sizeable increase from their first facility of $7.5 million in 2018. As part of the rebrand, RDM will continue to enhance its internal IT to better serve its clients and enlarge the scope of small businesses it provides working capital to.
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Creative Energy Establishes Green Loan Financing
October 14, 2021Creative Energy Developments LP (“Creative Energy” or the “Company”), a leading owner and operator of district energy systems in North America, has closed a $53 million credit facility, which includes the refinancing of $28 million of existing debt and a new $22 million green loan facility, led by HSBC Bank Canada and Toronto-Dominion Bank. HSBC acted as the green loan coordinator for the financing.
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Cornerstone Business Credit Announces the Addition of Jacen Dinoff
October 14, 2021Jacen has more than 25 years of experience as a lender and in the business advisory turnaround field. He is CEO and founder of KCP Advisory Group, a well-known and highly regarded national practice. His broad knowledge in the specialty finance business makes him a substantial asset to Cornerstone.
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AppLovin Announces Plan to Raise New $1.5 Billion Term Loan
October 13, 2021JPMorgan Chase Bank, N.A. (“JPM”) and KKR Capital Markets LLC (“KCM”) (together, the “Lead Arrangers,” each in such capacity, a “Lead Arranger”) will act as a joint lead arranger and bookrunner.
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Maxim Commercial Capital Funded Deals in 32 States During Q3 2021
October 13, 2021Maxim Commercial Capital (“Maxim”) saw increased demand across all lending programs during the third quarter 2021. Contractors nationwide are purchasing heavy equipment in response to a surge in infrastructure projects and the active construction industry.
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Fast AR Funding Provides a $200,000 Selective Factoring Facility for Healthcare Staffing Company
October 13, 2021Fast AR Funding provides a quick factoring facility for a rapidly growing staffing company during the pandemic.
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Briar Capital Real Estate Fund Announces $6.75 Million Real Estate Term Loan
October 13, 2021Briar Capital Real Estate Fund ("BCREF") (www.BriarCapital.com) is pleased to announce a new $6.75MM real estate term loan to a toy manufacturer and distribution company located in the Northeast United States. The COVID Pandemic had created challenges with the company’s retail distribution network as many of the stores supplying their product experienced closures, some permanently.
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B. Riley’s GA Global Partners to Lead Public Auction of Items from Historic Wardman Park Hotel in Washington D.C. on October 27 and 28, 2021
October 13, 2021GA Global Partners, the wholesale and industrial subsidiary of B. Riley Retail Solutions, today announced it will conduct a public auction of the contents of the Wardman Park Hotel in Washington, D.C. in connection with the recent closure of the landmark hotel. The two-day event takes place on Wednesday October 27 and Thursday October 28, 2021.
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Eastern Bank Welcomes The GEM Group, Inc. As An Asset Based Lending Customer Provides Financing for Working Capital and Real Estate
October 13, 2021Eastern Bank is pleased to announce The GEM Group, Inc. as a new asset-based lending customer. Founded in 1958, The GEM Group, which goes to market under the brand name Gemline, is an award-winning supplier of high-quality branded products to the promotional products industry.
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Citizens Advises CLC Northwest Inc. on Sale of 24 Taco Bell Restaurants
October 13, 2021Trinity Capital, a division of Citizens Capital Markets, Inc., served as the exclusive financial advisor to CLC Northwest, Inc., and affiliates, a Taco Bell and KFC franchisee with 43 restaurants in Washington, Idaho and Montana. CLC Northwest sold its 18 Eastern Washington and six Billings, Montana, area Taco Bell restaurants, including the underlying real estate at seven locations.
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Mira Srinivasan Joins BlueVine's Growing Leadership Team as Chief Risk Officer
October 13, 2021BlueVine, the leading provider of innovative financial services for small businesses, today announced the appointment of Mira Srinivasan as its Chief Risk Officer. In this position, Mira will build on the strong foundation of BlueVine's current Risk team and further improve underlying policies, customer experience, and risk models and underwriting. She will report to Steve Allocca, COO at BlueVine.
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PNC Achieves National Expansion With Conversion Of BBVA USA Completion of Largest Conversion in Bank's History
October 13, 2021The PNC Financial Services Group, Inc. (NYSE: PNC) today announced it has completed the conversion of 2.6 million customers, 9,000 employees and nearly 600 branches across seven states from BBVA USA to PNC Bank.
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Ampla Secures $250 Million Commitment to Accelerate Growth of Tech-Enabled Lending Platform
October 13, 2021Ampla Technologies (together with its affiliates, “Ampla” or the “Company”), a leading provider of tech-enabled financing solutions for emerging consumer brands, today announced it has raised $250 million through its entry into a credit facility agreement with Atalaya Capital Management LP (“Atalaya”), a New York-based alternative asset management firm.
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