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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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Winston & Strawn LLP Represents Citigroup Global Markets Inc.
December 2, 2021Winston & Strawn LLP represented Citigroup Global Markets Inc., in connection with its role as buy side advisor to ArcLight Clean Transition Corp. II (Nasdaq: ACTD), a publicly-traded special purpose acquisition company, in connection with a business combination with OPAL Fuels LLC, a leading vertically integrated producer and distributor of renewable natural gas (RNG) with a diversified revenue and customer base in 42 states.
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Thinking Ahead Can Help Retailers Cope with Today’s ‘Permitting Nightmare,’ Advises A&G Executive
December 2, 2021Building and opening stores is taking longer than ever due to permitting backlogs at many municipalities, but retailers can expedite store buildouts through some careful planning, writes Jon Graub, a Principal at A&G Real Estate Partners, in a Nov. 29 “Expert Viewpoints” column for Chain Store Age Online.
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Monroe Capital Supports CMI Group’s Acquisition of Systems 3
December 2, 2021Monroe Capital LLC today announced it acted as sole lead arranger and administrative agent on the funding of a senior credit facility to support the acquisition of System 3 by CMI Group (“CMI”). CMI is an existing portfolio company of Gallant Capital Partners. Founded in 1972 and headquartered in Phoenix, AZ, CMI is a leading manufacturer of critical components for engines, APUs, fuel and fluid systems, gears, hydraulics, and valves for the majority of commercial, military and business jet platforms serving the aerospace and defense industry.
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Orbit Garant Drilling Extends Credit Facility and Renews Four Large Drilling Contracts in Quebec
December 1, 2021Orbit Garant Drilling Inc. (TSX: OGD) ("Orbit Garant" or the "Company") today announced that it has reached an agreement with National Bank of Canada on certain amendments to its amended and restated credit agreement dated March 8, 2021 (the "Credit Facility").
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Obsidian Energy Announces Updates to Its Syndicated Credit Facility
December 1, 2021OBSIDIAN ENERGY LTD. (TSX: OBE) (OTCQX: OBELF) ("Obsidian Energy", the "Company", "we", "us" or "our") announced that its semi-annual borrowing base redetermination has been completed, resulting in a $35 million increase to our revolving syndicated credit facility from $225 million to $260 million.
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Golub Capital Acts As Administrative Agent And Joint Lead Arranger On $1 Billion Multi-Currency Financing To Support The Merger Of 2020 Technologies And Compusoft
December 1, 2021Golub Capital acted as Administrative Agent and Joint Lead Arranger on a $1 billion GOLD facility to finance the merger of 2020 Technologies (“2020”) and Compusoft by Genstar Capital and TA Associates. GOLD financings are Golub Capital One-Loan Debt facilities. The GOLD facility was funded using a combination of U.S. dollars, Canadian dollars, British pounds sterling and eurodollars.
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CIBC Innovation Banking Provides $35 Million Debt Facility to Intradiem to Accelerate Growth
December 1, 2021CIBC Innovation Banking is pleased to announce a debt facility of $35 million for Atlanta-based Intradiem, a leading provider of automation technology solutions for customer service teams. Intradiem will use the capital to expand its market growth and accelerate the launch of strategic products to deliver on its next generation platform and machine learning initiatives.
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Sycamore Tree Capital Partners Closes Inaugural CLO Totaling $403.3 Million
December 1, 2021Sycamore Tree Capital Partners (“Sycamore Tree”), a specialist asset manager with private and alternative credit investment expertise, announced today the closing of the firm’s inaugural Collateralized Loan Obligation (“CLO”), Sycamore Tree CLO 2021-1, Ltd. (“STCP CLO 1”). STCP CLO 1 totals $403.3 million, with Citibank Securities, NA serving as the underwriter and Dechert LLP acting as legal counsel to Sycamore Tree.
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Cambridge Savings Bank Offers Innovative Lending Solutions to Support LAB Medical’s Out-of-Market Expansion
December 1, 2021Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and more than $5 billion in assets, announced that its Commercial Lending team offered a lending solution to support the growth of LAB Medical Manufacturing with acquisition financing for a new manufacturing facility in South Carolina. Headquartered in Billerica, Massachusetts, LAB Medical is a device manufacturer that produces precision surgical equipment for multibillion dollar organizations.
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Danelle Larsen Joins FTI Consulting’s Office of the CFO Solutions Practice
December 1, 2021FTI Consulting, Inc. (NYSE: FCN) today announced the appointment of Danelle Larsen as a Managing Director in the Office of the CFO Solutions practice within the firm’s Corporate Finance & Restructuring segment. Based in Los Angeles, Ms. Larsen is an interim leader with more than 20 years of strategic, financial, operational and restructuring experience across a range of transactions involving finance, treasury and accounting teams.
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Haversine Bolsters Expertise with Senior Hire
December 1, 2021Haversine Funding, a leading provider of lender financing solutions for the specialty finance space, today announced the hiring of Edward (“Eddie”) Mun, CPA to serve as controller. Haversine continues its rapid expansion and this newest addition reflects the company’s commitment to our investors and the specialty financing marketplace by developing, deploying and managing customized financing options for lenders.
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Structured Finance Partner Christian Pugaczewski Joins Hunton Andrews Kurth in New York
December 1, 2021Christian Pugaczewski, a structured finance attorney with nearly two decades of experience developing innovative financial products and documenting derivative transactions, including hedging contracts for securitizations and energy project finance, has joined Hunton Andrews Kurth LLP as a partner in New York.
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Sunflower Bank Is First ABL Client to Move Operations to Solifi SaaS Platform
December 1, 2021Solifi (formerly IDS), a global fintech software partner for secured finance, announced Sunflower Bank as its first client to move mission-critical Asset-Based Lending (ABL) operations to the Solifi software-as-a-service (SaaS) platform. Solifi completed migration of its end-to-end ABL SaaS solution earlier this year. Headquartered in Denver, Colorado, Sunflower Bank, N.A., is a regional bank founded over 129 years ago.
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Citizens Business Bank Receives Regulatory Approvals to Acquire Suncrest Bank
November 30, 2021CVB Financial Corp. (“CVBF”), the holding company for Citizens Business Bank (“Citizens”), announced that Citizens has received regulatory approvals from the Federal Deposit Insurance Corporation and the California Department of Financial Protection and Innovation, respectively, to complete its announced merger with Suncrest Bank headquartered in Visalia, California (“Suncrest”). Subject to satisfaction of all remaining closing conditions, the parties anticipate consummating the merger on or about January 7, 2022.
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Dan Arnold Appointed To New Role As Senior Managing Director, Enterprise Valuation Services
November 30, 2021eoffrey Frankel, CEO and Senior Managing Director – Hilco Corporate Finance, is pleased to announce that Dan Arnold will be transitioning to the role of Senior Managing Director, Enterprise Valuation Services. In this new role, Mr. Arnold will focus on building the Enterprise Valuation Services (EVS) practice, including originating new business in the core business valuation segment, as well as disputes and financial diligence practices.
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Horizon Technology Finance Provides Additional $5 Million Venture Loan to Everstream Analytics
November 30, 2021Horizon Technology Finance Corporation (NASDAQ: HRZN) ("Horizon"), a leading specialty finance company that provides capital in the form of secured loans to venture capital backed companies in the technology, life science, healthcare information and services, and sustainability industries, announced today it provided an additional venture loan, in the principal amount of $5 million, to Everstream Analytics ("Everstream"), a provider of supply chain risk management software and an existing Horizon portfolio company.
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PlainsCapital Bank’s Houston Commercial Lending Team Welcomes Kristi Conway
November 30, 2021PlainsCapital Bank recently announced that Kristi Conway has joined its Houston lending group as executive vice president at 2925 Richmond Ave. Conway has more than 17 years of financial services and leadership experience, all of which she’s gained at Frost Bank. Most recently, she served as market president for commercial lending. Conway also held multiple management roles at Frost Bank, including senior vice president and vice president.
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Iron Horse Credit Provides a $1 Million Inventory Line of Credit to an Eyewear Distributor
November 30, 2021Iron Horse Credit (“IHC”), a leading stand-alone inventory lender, is pleased to announce the closing of a $1,000,000 stand-alone inventory revolving line of credit to an eyewear distributor. With over 30 years of experience in the eyewear industry, the client was able to leverage its existing relationships with vendors and major retailers to provide both branded and non-branded eyewear products.
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Celtic Capital Corporation Announces New Client Relationship
November 30, 2021Celtic Capital Corporation announced its most recent new client relationship – a California-based manufacturer of precision metal stamping, welding and automated assembly products for various industries. This third-generation business was leveraging its vendor relationships in lieu of traditional financing.
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Air Industries Group Announces Expansion and Extension of Credit Facility
November 30, 2021Air Industries Group (“Air Industries” or the “Company”), an integrated manufacturer of precision assemblies and components for leading aerospace and defense prime contractors, today announced that Sterling National Bank (“Sterling National”) has agreed to expand the size of and extend the maturity of its Revolving Credit Facility and Term Loan. The revolving credit facility increased by 25%, or $4 million, from its current $16 million limit to $20 million. The inventory sublimit of the revolving credit facility also increased by $3 million, to $14 million.
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