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- SFNet New Member Spotlight: Cascade Credit Services, LLC
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- Brean Capital Extends and Upsizes Bank Credit Facility to $150 Million for Regents Capital
- Monroe Capital Supports Growth of Recognize Partners’ SDG Corporation
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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Monterey Financial Services Acquires Continental Central Credit, Solidifying Their Position as a Leader in Debt Recovery Solutions
October 12, 2021With the acquisition of Continental Central Credit, Monterey will broaden its customer base and give the former Continental clients the gold star level of service and integrity they are used to with the added value of Monterery’s advanced technological practices.
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Rosenthal Provides $5 Million Joint Factoring, Inventory and Purchase Order Financing Facility for Major Office Furniture Manufacturer
October 12, 2021Rosenthal & Rosenthal, Inc., one of the leading factoring, asset based lending and purchase order financing firms in the U.S., today announced the completion of a recent $5 million joint factoring, inventory funding and purchase order financing facility to support the growth capital needs of a Georgia-based manufacturer and distributor of office furniture and products.
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TD Bank Adds Free Invoicing Function to its Business Simple Checking Accounts to Help Small and Micro Businesses Get Paid Faster
October 12, 2021TD Bank, America's Most Convenient Bank® announced today that it has expanded its collaboration with Autobooks to add invoicing as a feature to its TD Business Simple Checking, making it easier for small and micro businesses to process invoices and get paid faster. With this collaboration, TD Bank is one of the first major financial institutions to provide this tool and make it a standard part of the digital banking experience.
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SG Credit Provides $3.5 Million High Net Worth Guarantor Loan
October 12, 2021SG underwrote the real estate as well as the outside personal assets of the Guarantor. Given the location and liquidity of the underlying real estate collateral, coupled with the strength of the Guarantor's personal balance sheet, SG was comfortable providing a high LTV loan. SG moved quickly to meet the timing constraints and closed within three (3) weeks from executed term sheet.
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LSQ Provides $5MM Facility to Foreign-Based Metals Recycler
October 12, 2021LSQ, a leading provider of working capital solutions, announced the origination of a $5 million facility for a European metals recycler entering the U.S. market. The facility will help address the rising demand for metal alloys, allowing the business to purchase property and processing equipment while offsetting cash flow gaps created by an average DSO of 83 days.
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SLR Healthcare ABL Provides Financing for a Skilled Nursing Operator
October 12, 2021SLR Healthcare ABL is pleased to announce it has provided a $7 million asset-based revolving line of credit financing to a skilled nursing operator.
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HyperAMS & Liquid Asset Partners Announce Retail Liquidation Joint Venture
October 12, 2021HyperAMS, LLC and Liquid Asset Partners, LLC are pleased to announce a new joint venture, HyperLiquid Retail Solutions, to focus on retail inventory and store closing liquidations. HyperLiquid will utilize decades of experience and specialties of both businesses to provide retail clients with more flexibility, lower costs, and scalable solutions for a variety of asset disposition needs.
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Secured Finance Foundation Announces New Board for 2022
October 12, 2021“This is a group of very dedicated individuals who have deep experience in the secured finance business, and are highly invested in helping to shape the future of our industry and the communities we serve,” said incoming Chairman William D. Brewer, Partner at Winston and Strawn LLP.
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Leading Finance Technology Provider IDS Is Now Solifi
October 12, 2021IDS and its acquired companies, William Stucky and Associates and White Clarke Group, today announced the launch of a new company identity: Solifi. The new brand and visual identity bring together innovative solutions, deep industry expertise, global reach, and a unified technology platform designed to enable our customers to deploy capital to power global commerce. Solifi is reshaping the secured finance industry by delivering solutions that guard, guide, and grow our customers’ businesses.
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Urban Grid Closes $275M Debt Refinance Provided By Crayhill Capital Management
October 12, 2021Urban Grid, one of the largest U.S. greenfield renewable energy project developers, announced today that it has expanded and extended its partnership with Crayhill Capital Management, a New York-based, minority-owned private credit manager focused on asset-based investments in the renewable energy sector.
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Riveron Welcomes Sam Shaw as New Chief Financial Officer
October 12, 2021Riveron, a national business advisory firm, announced today that Sam Shaw is joining its leadership team as CFO. Shaw will oversee the company’s finance organization and play a leading role in executing Riveron’s purpose-driven growth strategy.
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Antares Capital Announces Leadership Transition
October 12, 2021Antares Capital (“Antares” or “the firm”), a private debt credit manager with $42.9 billion of capital under management and administration, today announced that Timothy Lyne, founding partner and current Chief Operating Officer (COO), will succeed David Brackett as Chief Executive Officer (CEO). Brackett announced that he will be retiring from his role as CEO on December 31, 2021, and will remain with Antares in an advisory capacity.
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Abacus Finance Provides Senior Debt Financing to Support the Leveraged Buyout of GLD, LLC
October 12, 2021Abacus Finance Group, LLC – a leading provider of cash flow-based, classic senior debt for sponsor-led buyouts of companies with $3 million to $15 million in EBITDA – today announced that it served as Senior Secured Credit Facilities Administrative Agent and Lead Arranger for senior secured credit facilities to support the leveraged buyout of GLD, LLC by H.I.G Growth Partners. Abacus made an equity co-investment in GLD, LLC.
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Hancock Whitney Expands Corporate, Commercial Banking Teams in New Orleans
October 11, 2021Hancock Whitney senior vice presidents Elizabeth Hefler and Billy Hoffmann, two longtime Hancock Whitney financial services professionals serving South Louisiana clients and communities, will lead the bank’s expanded corporate and commercial banking teams.
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CVC Credit Prices Fifth New CLO of 2021
October 11, 2021Arranged by Deutsche Bank, the transaction has been structured with a five-year reinvestment period and priced at the tight end of the market. Apidos XXXVII is primarily comprised of broadly syndicated First Lien Senior Secured Loans.
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Summit Bank Promotes Chris Hemmings to Chief Operating Officer
October 11, 2021Craig Wanichek, President and Chief Executive Officer of Summit Bank (OTC Pink: SBKO) today announced the promotion of Chris Hemmings to Chief Operating Officer of the Bank, effective immediately. Hemmings has been with Summit Bank since 2008 and has served in various capacities, most recently as Senior Vice President & Chief Administrative Officer and before that Controller.
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Greenberg Traurig Honored at Euromoney 'Women in Business Law Awards Americas' 2021
October 11, 2021Two attorneys from global law firm Greenberg Traurig, LLP were recognized as "Attorney of the Year" at the Euromoney Legal Media Group's annual "Women in Business Law Awards Americas." Presented virtually on Sept. 29, 2021, the awards recognized the firm in two categories.
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First Bancorp Announces Management Team Changes
October 11, 2021First Bancorp (NASDAQ – FBNC), the parent company of First Bank, announced today changes in the management team of the Company and the Bank. Adam Currie will become Chief Banking Officer of First Bank; Elizabeth B. Bostian will become General Counsel and Chief Financial Officer of the Company; and Blaise Buczkowski, Chief Administrative Officer, will continue in that role and become the Company's Chief Accounting Officer, reporting to Ms. Bostian.
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KKR Announces CEO Succession
October 11, 2021KKR & Co. Inc. (together with its subsidiaries, “KKR”), a leading global investment firm, today announced that Joe Bae and Scott Nuttall have been appointed Co-Chief Executive Officers, and Co-Founders Henry Kravis and George Roberts will remain actively involved as Executive Co-Chairmen of KKR’s Board of Directors. The leadership transition is effective immediately.
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Tradecycle Capital Delivers Two New Accounts Payable Finance Facilities in September
October 11, 2021Tradecycle Capital, an Indianapolis-based trade finance provider, announced it funded two new revolving accounts payable funding facilities in September. The first is a $3,500,000 limit to a privately held third party Logistics provider who came to Tradecycle after receiving payments from Tradecycle. The second was a $300,000 limit to a manufacturer of specialty HVAC equipment for large industrial and government buildings, which was referred to Tradecycle by their senior lender.
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