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Hilco Global announced today that long time Bank of America executive Betsy Ratto will join the Hilco Global team as Senior Vice President of Capital Solutions with responsibility to drive business for ReStore Capital and Hilco Corporate Finance.
In this new role, Ms. Ratto will be responsible for originating and executing corporate finance and capital markets transactions, with focus on the retail industry and other financing transactions. Ms. Ratto will be based in Hilco’s Boston office and will work on identifying and originating lending/investment opportunities through Hilco Global’s and her own existing network of professional contacts and relationships, including investment banks, private equity firms and hedge funds.
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TSL Express Daily Headlines & News
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Ares Commercial Finance and WhiteHawk Capital Partners Provide CAD$130 Million Senior Facility to a Western Canadian Crane and Heavy Haul Service Provider
August 16, 2021Ares Commercial Finance (“ACF”) and WhiteHawk Capital Partners, LP ("WhiteHawk") announced today that they have provided a CAD$130 million Senior Facility to a company based in Western Canada specializing in crane and heavy haul services. The Senior Facility was comprised of CAD$90 million revolver provided by ACF and a CAD$40 million term loan provided by WhiteHawk. The financing provides incremental financial flexibility to support the company’s future growth.
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Entrepreneur Growth Capital Provides $4.5MM ABL
August 16, 2021Entrepreneur Growth Capital (“EGC” or “Entrepreneur”) is pleased to announce that it has provided a $4,500,000 asset-based line of credit to a New York based manufacturer, distributor and retailer of women’s sportswear (the “Company”).
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Cresco Labs Closes New Senior Secured Credit Facility with Existing Lenders
August 16, 2021-Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco Labs” or “the Company”), a vertically integrated multistate operator and the number one U.S. wholesaler of branded cannabis products, announced today the closing of an agreement with lenders to upsize its senior secured term loan (the “Senior Loan”) to an aggregate principal amount of US$400 million. The Senior Loan bears interest at a reduced rate of 9.5% per annum, with a maturity date of August 12, 2026.
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L.B. Foster Company Expands and Extends Credit Agreement on More Favorable Terms
August 16, 2021L.B. Foster Company (the "Company") (NASDAQ: FSTR), a leading provider of products and services for the rail industry and solutions to support critical infrastructure projects, today announced that on August 13, 2021, it entered into a Fourth Amended and Restated Credit Agreement (“Credit Agreement”) to, among other considerations, extend the facility maturity date to August 13, 2026, increase borrowing capacity to $130 million, improve pricing, and provide a more accommodating covenant package.
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Spirit Healthcare Secures Growth Lending Credit Facility
August 16, 2021Spirit Healthcare, a medicines optimisation service provider for the NHS, has secured a multi-million-pound revolving credit facility from Growth Lending, to support innovative R&D projects and expansion into new markets. Growth Lending chose to invest in Spirit Healthcare following the company’s consistent double-digit growth and strong turnover, even against the pressures applied by the Covid-19 pandemic.
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BHI Names Oleg Kochanov as Chief Credit Officer
August 16, 2021BHI, a full-service commercial bank, announced that it has promoted Oleg Kochanov to the position of Chief Credit Officer. Kochanov, who joined BHI in 2019 as Senior Vice President, Head of Credit Underwriting, has more than 20 years of experience in loan underwriting, structuring, and portfolio and client relationship management.
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Ecopetrol Gets MHCP Authorization For Up To $4 Bln Credit Loan
August 16, 2021Ecopetrol S.A. (EC) said the Ministry of Finance and Public Credit authorized the company to enter into an external credit loan with international banks for up to $4 billion whose exclusive purpose will be to finance the acquisition of Interconexión Eléctrica S.A. ESP. The lenders under the credit facility are Banco Santander, S.A., Citibank, N.A., JPMorgan Chase Bank, N.A. and The Bank of Nova Scotia.
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Huntington Business Credit Provides Credit Facility for TeleTracking Technologies, Inc.
August 16, 2021Huntington Business Credit announced it closed a new $60,000,000 credit facility with TeleTracking Technologies, Inc. on June 28, 2021. Proceeds of the facility were used to refinance existing indebtedness and to provide ongoing working capital growth financing.
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Hyatt to buy Apple Leisure Group from KKR, KSL Capital for $2.7 billion
August 16, 2021U.S. hotel operator Hyatt Hotels Corp said on Sunday it entered a deal to buy resort company Apple Leisure Group from its private-equity owner KKR & Co and travel-and-leisure specialist KSL Capital Partners for $2.7 billion in cash. Hyatt said it expects to fund more than 80% of the purchase with a combination of $1 billion of cash on hand and new debt financings, and the remainder with about $500 million from equity financing. It added that Hyatt has secured a $1.7 billion financing commitment from JP Morgan.
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LivaNova Announces Early Retirement of $450 Million Term Loan and Executes $125 Million Revolving Credit Facility
August 16, 2021LivaNova PLC (NASDAQ:LIVN), a market-leading medical technology and innovation company, today announced the early retirement of its $450 million five-year senior secured term loan (the Term Loan). In addition, LivaNova today announced the execution of a $125 million secured revolving credit facility (the Credit Facility) with Goldman Sachs Bank USA as agent, and Goldman Sachs Bank USA, Barclays Bank PLC and UBS AG, Stamford Branch as lenders.
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Funding Circle Extends Partnership with Congressional Bank to Get More Capital to US Small Businesses
August 16, 2021Funding Circle, the small business loans platform and Congressional Bank, a bank headquartered in Maryland, have today announced an extension of their existing lending partnership to provide more capital to small businesses across the US. The second phase of the partnership will significantly expand Congressional’s purchase of loans through the Funding Circle platform. By utilizing Funding Circle’s technology and powerful risk models Congressional benefits from a highly efficient and cost-effective way to deploy significant capital to Main Street businesses looking for funding.
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SGT Capital Purchases Utimaco, the Global Leader in Cybersecurity Solutions
August 16, 2021SGT Capital is pleased to announce that the EQT Mid Market Europe fund ("EQT Private Equity") has agreed to sell Utimaco Verwaltungs GmbH ("Utimaco" or the "Company") to SGT Capital, a global alternative asset manager with offices in Germany and Singapore.
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Fundamental Advisors Completes Acquisition of MMA Capital Holdings
August 16, 2021An affiliate of Fundamental Advisors LP (together, "Fundamental"), a leading alternative asset manager focused on municipal, public purpose and community assets, today announced that it is has completed its previously announced acquisition of MMA Capital Holdings (the "Company"), an infrastructure finance company focused on providing debt financing for renewable energy projects, in an all-cash transaction valued at approximately $162 million.
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White Oak Delivers $45 Million Acquisition Term Loan Financing
August 16, 2021White Oak Global Advisors, LLC (“White Oak”), announced it provided a $45 million term loan to a global metals and commodity trading conglomerate, supporting its acquisition of the largest domestic vertically integrated producer of Alumina.
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Eclipse Business Capital Provides $100 Million Revolving Credit Facility to a Global Distributor
August 16, 2021Eclipse Business Capital LLC (“EBC”), formerly known as Encina Business Credit, announced today that it has provided a $100 million senior secured revolving credit facility to a global electronic component sourcing and distribution company.
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Chase Corporation Announces Amended and Restated Credit Agreement
August 16, 2021Chase Corporation (NYSE American: CCF), a global specialty chemicals company that is a leading manufacturer of protective materials for high-reliability applications across diverse market sectors, has entered into a new amended and restated credit agreement with Bank of America, N.A., as administrative agent, and with participation from Wells Fargo Bank, N.A., PNC Bank, N.A. and JPMorgan Chase Bank, N.A.
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CBIZ Board Appoints Richard T. Marabito as Independent Director
August 16, 2021CBIZ, Inc. (NYSE: CBZ) ("the Company"), a leading provider of financial, insurance and advisory services, today announced the appointment of Richard T. Marabito as independent director to the Company's Board of Directors, effective August 12, 2021.
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Waha Capital Secures New $500 Million Revolving Credit Facility
August 16, 2021Waha Capital, an investment management company in Abu Dhabi, has announced the completion of the refinancing of its revolving credit facility with the support of four local and regional banks. The 3-year US$500 million revolving credit facility replaces and upsizes the current facility of US$400 million.
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Idea Financial Announces the Promotion of Sean Hritz to Vice President of Credit and Risk; Expansion of Small Business Loans up to 36 Months in Length
August 16, 2021Idea Financial, a leading provider of small business lending solutions, has announced the promotion of Sean Hritz to Vice President of Credit and Risk. In addition, Idea Financial will now offer lines of credit and term loans up to 36 months. Sean Hritz joined the company in 2018 as Director of Underwriting and, prior to that, held multiple senior underwriting roles in the lending industry.
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Apollo Hires Vikram Mahidhar as Operating Partner and Head of Data & Digital Transformation
August 16, 2021Apollo Global Management, Inc. (NYSE: APO) (together with its consolidated subsidiaries, “Apollo” or the “Firm”) today announced that Vikram Mahidhar has joined the Firm as an Operating Partner to lead Private Equity’s Data & Digital Transformation efforts within Apollo’s Portfolio Performance Solutions (“APPS”) platform.
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