- Sallyport Commercial Finance Helps an Oil & Gas Service Company Diversify Their Business with a $500,000 Credit Facility
- Tamarack Valley Energy Ltd. Announces Completion of Credit Facility Redetermination
- Steven Evans Joins First Sound Bank as Senior Vice President and Manager of Commercial Banking
- FTI Capital Advisors Strengthens Investment Banking Practice and Telecom, Media & Technology Expertise
- ABLC Celebrates Expansion with the Opening of Two New Northeast Offices
TSL Express Trending Story
SFNet’s fourth annual Women in Secured Finance Conference attracted over 300 attendees for two days of inspiring (virtual) sessions featuring senior executives who shared their perspectives on leadership and communications while heading teams virtually and managing changes wrought by the COVID-19 Pandemic.
The consensus: Workers will not be returning to how it was even after a viable vaccine for the COVID-19 virus becomes available. Many of the speakers – women in top management, who are accustomed to being in the office, travelling, and meeting face-to-face with teams and clients—spoke about remote work challenges. They also offered creative ideas to ensure employees feel embraced during this challenging time.
TSL Express Daily Headlines & News
Moritt Hock & Hamroff's Julia Gavrilov Named To Secured Finance Network's 2020 Top 40 Under 40 List
September 10, 2020Julia Gavrilov, counsel in the Garden City office of Moritt Hock & Hamroff LLP has been chosen as a recipient of the 2020 Secured Finance Network's (SFNet) 40 Under 40 Awards. The global award recognizes the best and the brightest rising stars in the secured finance industry. SFNet was formerly the Commercial Finance Association, the nationwide trade association in the secured lending community.
FocalPoint Advises Phoenix Electric, a Portfolio Company of Tejas Investments, on its Sale to Ascension Property Services
September 10, 2020Phoenix Electric (“Phoenix” or the “Company”), the leading multi-family electrical contractor in Texas and a portfolio company of Tejas Investments, has been acquired by Ascension Property Services (“Ascension”). Phoenix’s President, Michael Riley, will continue to lead and operate the Company. Specific terms of the transaction were not disclosed. FocalPoint Partners, LLC (“FocalPoint”) served as financial advisor to the Company.
Wolters Kluwer Hosts Webinar on Community Reinvestment Act Modernization
September 10, 2020September 17 event will explore key aspects, impacts of OCC’s CRA rule for lenders.
CapitalPlus Strengthens Sales Team to Support Construction Companies
September 10, 2020CapitalPlus Construction Services, a leading provider of accounts receivable financing for the construction industry, recently announced the addition of Adam T. Keck as Senior Account Executive. Adam will be responsible for business development and client management in the western region of the United States.
iQor Takes Action to Strengthen Capital Structure, Reaches Agreement to Enhance Financial Stability
September 10, 2020Restructuring Provides for Enhanced Liquidity via a $80 million Revolving Credit Facility and up to $97.5 million of New Money Investment from Existing Lenders Transaction to be Implemented Through a Voluntary, Pre-Packaged Chapter 11 Process Operations Continuing Without Interruption; No Impact Expected for Customers, Vendors, or Employees
BlueVine Secures $75 Million Revolving Credit Facility with Atalaya Capital Management
September 10, 2020BlueVine, the leading provider of small business banking, today announced it has secured a $75 million revolving credit facility from funds managed by Atalaya Capital Management, a private credit and special opportunities investment manager based in New York. BlueVine will leverage the capital to expand its best-in-class, flexible Line of Credit lending solution.
urban-gro, Inc. Announces Amendment to Credit Facility
September 10, 2020Amended Terms Provide Greater Financial Flexibility by Removing Demand Function and Extending Maturity Date through to End of 2021
TAB Bank Provides Manufacturing Company in Texas with a $4.5 Million Revolving Credit Facility
September 10, 2020TAB Bank is pleased to announce it has provided a $4.5 million asset-based revolving credit facility for manufacturing company based in Texas. The new facility is extended through a multi-year agreement and will provide for the ongoing working capital needs for the company.
Lands’ End Announces New Term Loan and Expanded ABL Facility
September 10, 2020Lands' End, Inc. (NASDAQ: LE) today announced that it has secured a new term loan of $275 million. The loan proceeds, combined with borrowings under the Company’s ABL Facility, were used to refinance the Company’s term loan, which was due in April 2021. Upon the closing of the refinancing, maximum availability under the ABL Facility was expanded by $75 million to $275 million.
Anchorage Capital Group Becomes Majority Owner of J. Crew Group
September 10, 2020Weil, Gotshal & Manges LLP served as legal counsel, Lazard served as investment banker, and AlixPartners, LLP served as restructuring advisor to J.Crew Group. Anchorage and other members of an ad hoc committee were represented by Milbank LLP as legal counsel and PJT Partners LP as investment banker. BofA Securities, Inc., JPMorgan Chase Bank, N.A., and MUFG Union Bank, N.A. served as joint lead arrangers and joint bookrunners for the new ABL credit facility.
Rosenthal’s Heather Fidura Heads to Florida, Expanding Business Development Capabilities in the Southeast
September 9, 2020Rosenthal & Rosenthal, Inc., the leading independent factoring, asset-based lending and purchase order financing firm in the United States, today announced that Heather Fidura will be relocating to Florida, adding to the Southeast’s already robust team of financial services professionals. After nearly 10 years with Rosenthal’s New York office, Fidura will now be based in Tampa, Florida and will continue her role as a Business Development Officer, sourcing new business for the firm across all products: asset-based lending, factoring and purchase order financing.
Gateway Trade Funding Closed 7 Facilities Totaling $13,000,000 For US and Canadian Importers and Suppliers
September 9, 2020Gateway Trade Funding, a PO and Trade Financing company, is happy to announce that we have recently closed the following purchase order facilities: • A $2,500,000 facility for an importer of PPE gowns selling to a large US municipality. • A $1,000,000 facility for an importer of PPE products selling to US states, municipalities and the federal government.
LBC Credit Partners Supports CIVC Partners’ Investment in iVision
September 9, 2020LBC Credit Partners (“LBC”), one of the leading providers of financing solutions to middle market companies, provided a senior secured term loan facility to support the investment in iVision by CIVC Partners, in partnership with the existing management team. LBC served as Joint Lead Arranger for the senior secured term loan facility.
Versant Funding LLC Funds a National Distributor of Sweets and Treats
September 9, 2020Versant Funding LLC is pleased to announce it has funded a $1,800,000 non-recourse factoring facility to a national distributor of sweets and treats.
Reliance Steel & Aluminum Co. Announces Amended and Restated $1.5 Billion Credit Facility
September 9, 2020Bank of America N.A. is the Administrative Agent and JPMorgan Chase Bank, N.A. and Wells Fargo Bank, National Association are Co-Syndication Agents. BofA Securities, Inc., JPMorgan Chase Bank, N.A. and Wells Fargo Securities, LLC were the Joint Lead Arrangers and Joint Book Managers.
Malfitano Partners Announces Strategic Alliance With Industrial Asset Monetization Experts From The Branford Group
September 9, 2020Malfitano Partners continues to grow the resources available to help its clients with liability management and restructuring needs by expanding and entering into an exclusive strategic alliance with The Branford Group, a premier industrial asset valuation and monetization firm led by seasoned industrial experts, including Bill and James Gardner and Scott Lonkart.
Prestige Capital Announces $7 Million in Additional PPE Funding
September 9, 2020Prestige Capital Finance, LLC is proud to continue funding PPE providers. In July alone, Prestige provided $7 million to two companies to fund the manufacturing and importing of masks, swab transport containers, disinfectant wipes and more.
Strategic Data Center Secures up to $200 Million Credit Facility with Sunflower Bank
September 8, 2020Strategic Data Center Fund Manager, LLC (“Strategic Data Center” or the “Company”) today announced it has secured a revolving line of credit that converts into a permanent loan from Sunflower Bank. The credit facility will initially provide the ability to borrow up to $25,000,000. Over time, and subject to certain conditions, Strategic Data Center anticipates increasing the size of the facility to aggregate commitments of up to as much as $200,000,000. The Company believes the credit line will significantly enhance its ability to continue acquiring and developing a diversified portfolio of data center real estate assets within the U.S.
Enable Injections Announces $25 Million Credit Facility Closed with Oxford Finance
September 8, 2020Enable Injections, Inc. ("Enable"), a company developing and manufacturing the enFuse® platform of investigational wearable infusion devices, today announced it has completed a credit facility for $25 million from Oxford Finance LLC ("Oxford"), a specialty finance firm that provides senior debt to life sciences and healthcare services companies worldwide. The funds will support the scaling of high-volume manufacturing and achievement of major inflection points as Enable approaches commercialization.
Green Plains Completes $75 Million Loan Facility
September 8, 2020Green Plains Inc. (NASDAQ:GPRE) today announced the closing of a $75 million 15 year term loan facility with MetLife Investment Management (MIM), due 2035. The company will use the proceeds to finance the construction of high protein technology at Green Plains Wood River LLC as well as a yet to be announced future location.
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