- Gibraltar Business Capital Closes $12.5M Revolving Credit Facility with Sharebite
- Scotiabank to Acquire MapleMark Bank to Support Strategic Growth in Global Banking and Markets Business
- Georgia Banking Company, Inc. and Tandem Bancorp, Inc. Announce Completion of Merger
- White Oak Commercial Finance and Hilco Global Provide $192MM Senior Secured Credit Facility for Royal Cup Coffee and Tea
- BRC Specialty Finance Provides $20 Million Senior Secured Term Loan Supporting AI-Driven HPC Data Center Infrastructure Provider
TSL Express Daily Articles & News
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eCapital Corp. Names Brian Gagel as Managing Director of General Factoring
eCapital Corp. (“eCapital”), a leading alternative finance provider in North America, has named Brian Gagel as Managing Director of General Factoring in its Commercial Finance division. He will report to Dave Ciccolo, the CEO of the division, and will lead a team of account management and operations professionals to support the continued growth of the general factoring business.
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B. Riley Expands Fixed Income Division; Names Tim Sullivan Head of Fixed Income
August 10, 2021B. Riley Financial, Inc. (NASDAQ: RILY) (“B. Riley”), a diversified provider of business advisory and financial services, today announced that Tim Sullivan has agreed to join the firm as Head of Fixed Income with B. Riley Securities, Inc.
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Quantum Successfully Completes Debt Refinancing
August 9, 2021Quantum Corporation (NASDAQ: QMCO) announced today it has completed the refinancing of its senior secured term loan. Following a competitive proposal process, the Company remained with affiliates of the existing lenders and replaced the existing term loan facility with a new $100 million senior secured term loan that matures in 2026.
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Bed Bath & Beyond Improves Terms, Increases Flexibility & Extends Asset-Based Revolving Credit Facility, Further Enhancing Financial Position
August 9, 2021Bed Bath & Beyond Inc. (Nasdaq: BBBY) today announced it has amended its asset-based revolving credit facility ("ABL Facility"). The revised and expanded ABL Facility increases the Company's capacity from $850 million to $1.0 billion with improvements to borrowing terms and financial covenants. Among other things, this amendment reflects an improved cost structure and the amended agreement extends the original expiration date of 2023 to 2026.
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ING Leads $300 Million Expanded Syndicated Financing for Precious Metals Merchant Auramet
August 9, 2021ING Capital LLC ("ING") led a $300 million syndicated financing on behalf of Auramet Trading and Auramet International (collectively, "Auramet"), a precious metals merchant. ING acted as Mandated Lead Arranger, Bookrunner and Administrative Agent on the oversubscribed deal, which closed on July 30, 2021, and an increase over the previous facility of $235 million. In addition to ING, the lending group included Rabobank acting as Lead Arranger, as well as HSBC Bank USA N.A., Macquarie Bank Limited, Brown Brothers Harriman & Co, Mizuho Bank, Ltd, CIBC Bank USA and Bank of China.
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Winston & Strawn Represents Frontenac Company
August 9, 2021Winston & Strawn represented Frontenac Company, a Chicago-based private equity firm, in the sale of Whitebridge Pet Brands to NXMH, a Belgium-based family-owned investment firm. Whitebridge is a leader in natural and minimally processed pet foods, complements, treats, and supplements.
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Sallyport Commercial Finance, LLC Provides $1,750,000 Funding for Hospitality Services Supplier
August 9, 2021The client was referred to Sallyport from a trusted contact in its CPA network. A customized package of accounts receivable financing, equipment finance and a term loan were tailored to the client which enabled them to settle their obligations with their exiting lender and increase working capital, leaving them free to focus on expansion into new markets through the acquisition of complementary businesses.
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H.I.G. Capital Makes a Strategic Investment in The Bluebird Group
August 9, 2021H.I.G. Capital ("H.I.G."), a leading global alternative investment firm with $45 billion of equity capital under management, is pleased to announce that one of its affiliates has made an equity investment in The Bluebird Group (“Bluebird” or the “Company”), an innovative retail services consulting firm. Founded in 2015, Bluebird provides emerging and category-leading brands with outsourced retail services required to optimize online and in-store sales.
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Gordon Brothers Launches Sale of Automotive Seat Manufacturing Assets
August 9, 2021Gordon Brothers, the global advisory, restructuring and investment firm, has been appointed as sole asset selling agent for car seat manufacturer, TS Tech UK Ltd (TS Tech), in Swindon. This specialised sale presents the opportunity to acquire state-of-the-art automotive seat manufacturing equipment.
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Ares Management Corporation Leads £1 Billion of Available Debt Facilities to RSK Group in Largest Sustainability Linked Private Credit Financing to Date
August 9, 2021Ares Management Corporation (“Ares”) (NYSE: ARES) announced today that funds managed by its European Direct Lending strategy are serving as the sole lenders of £1 billion of available debt facilities to the RSK Group (“RSK”), the U.K.’s largest privately-owned multi-disciplinary environmental business. This transaction marks the largest private credit-backed sustainability linked financing to date and will be used to refinance RSK’s existing credit facilities as well as support its continued organic and inorganic growth plans.
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Republic Launches Technology Finance Program
August 9, 2021Republic Capital Access, LLC has entered into an arrangement with the newly formed partnership of Northpoint Commercial Finance and Reed Advisory Solutions LLC to provide financing for sellers of technology products to the U.S. Government.
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Marble Financial Executes Definitive $10 Million Credit Facility Agreement With Cypress Hills Partners Inc., to Fund Its Fast-Track Loan Product
August 9, 2021Marble Financial Inc. (CSE: MRBL; OTCQB: MRBLF; FSE:2V0) (“Marble” or the “Company”) an AI-driven financial technology company that educates and helps Canadians better understand and manage their current cash flow and credit towards a better financial future, is pleased to announce it has entered into an arm’s length definitive credit facility agreement (“Credit Agreement”) with CHP Agent Services Inc., a subsidiary of an independent, non-affiliated Canadian based alternative specialty lender, Cypress Hills Partners Inc. (“CHP”).
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Meritage Completes New $302 Million Credit Facility; Positioning for Long-Term Growth
August 9, 2021Meritage Hospitality Group Inc. (OTCQX: MHGU), the nation’s premier franchise operator, today announced that the Company and certain of its subsidiaries have in advisory with Auspex Capital, closed on a new $302.8 million senior secured credit facility syndication led by City National Bank.
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Stonebriar Commercial Finance Closes $10.2 Million Loan
August 9, 2021Stonebriar Commercial Finance (“Stonebriar”) today announced the closing of a $10.2 million term loan with a premier Jones Act marine transportation and logistics services company. The loan represents Stonebriar’s third transaction with the borrower and its affiliates with total funded volume approximating $80 million. The loan proceeds were used for general corporate purposes. Consistent with the client’s required timeline, the transaction closed in less than 30 days.
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Boxed Announces New $45 Million Secured Credit Facility Provided by Funds and Accounts Managed by BlackRock
August 9, 2021Boxed, an e-commerce grocery platform selling bulk consumables to households and businesses, and an e-commerce enabler selling software and services to enterprise retailers around the world, announced today that it has entered into a new $45 million secured credit facility (“New Credit Facility”) provided by funds and accounts managed by BlackRock. The New Credit Facility will mature on August 4, 2025, and is secured by all of the assets of Boxed and its subsidiaries, subject to customary exceptions.
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CIBC Innovation Banking Provides Karbon with Credit Facility to Support its Growth Plans
August 9, 2021CIBC Innovation Banking is pleased to announce it has provided a $5 million credit facility to Nevada-based Karbon Inc. (“Karbon”), which provides industry-leading practice management software for accounting firms. The company plans to use the facility to support its hiring plans and further invest in its diverse product set.
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INDUS Closes New Revolving Credit Facility
August 9, 2021INDT) (“INDUS” or the “Company”), a U.S. based industrial/logistics REIT, announced today INDUS, as parent guarantor, INDUS RT, LP, as borrower, and certain subsidiaries of INDUS RT, LP as guarantors, have entered into a secured revolving credit facility of up to $100 million (the “New Credit Facility”), replacing both the Company’s former revolving credit line and acquisition credit line, which totaled $50 million in the aggregate and were scheduled to expire on September 30, 2021. The New Credit Facility has a three-year term with two one-year extensions at the Company’s option. T
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Golub Capital Acts as Left Lead Arranger and Administrative Agent on Two Rated, Broadly Syndicated LBO Financings in July
August 9, 2021Golub Capital acted as Left Lead Arranger, Administrative Agent and Joint Bookrunner on an $810 million broadly syndicated loan facility to support the acquisition of Rough Country, LLC ("Rough Country") by TSG Consumer Partners ("TSG"), and on a $425 million broadly syndicated loan facility to support the acquisition of Confluence Technologies, Inc. ("Confluence") by Clearlake Capital ("Clearlake").
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FTI Consulting Named Global Turnaround Consulting Firm of the Year, Public Relations Firm of the Year by Global M&A Network
August 9, 2021FTI Consulting, Inc. (NYSE: FCN) today announced that the Company has been named Global Turnaround Consulting Firm of the Year and Public Relations Firm of the Year by Global M&A Network. The firm also was recognized for its work on 14 restructuring and merger and acquisition engagements. The Turnaround Atlas Awards, presented by Global M&A Network, honor excellence in the restructuring, distressed investing, insolvency, special situations M&A transactions and turnaround communities.
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Winston & Strawn Represents Industrial Opportunity Partners
August 9, 2021Winston & Strawn represented Industrial Opportunity Partners (“IOP”), an operations-focused private equity firm based in Evanston, Ill., in its investment to support the recapitalization of Brewster Home Fashions LLC (“Brewster”) and Fine Decor Wallcoverings Ltd (“Fine Decor” and together with Brewster, the “Company”).
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Citizens Financial Group Expands Financial Valuation Practice with Willamette Management Associates Acquisition
August 5, 2021Citizens Financial Group, Inc. (NYSE: CFG or “Citizens”) today announced that it has entered into a definitive agreement to acquire Willamette Management Associates, a valuation consulting and forensic analysis firm with offices in Chicago, Atlanta and Portland, Ore. This transaction further strengthens our growing corporate financial advisory capabilities and places Citizens among the top valuation services providers in the country.
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