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Ares Management Corporation Closes Oversubscribed Second Junior Capital Direct Lending Fund
Ares Management Corporation (“Ares”) (NYSE: ARES), a leading global alternative investment manager, announced today the final closing of Ares Private Credit Solutions II (“APCS II” or the “Fund”). APCS II was oversubscribed with $5.1 billion of commitments compared to its $4.0 billion target and is approximately 50% larger than its 2017 predecessor fund.
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Pacific Mercantile Bank Provides $7.5 Million Line of Credit to Mason-West LLC
June 9, 2021Pacific Mercantile Bank (“the Bank”), the wholly owned subsidiary of Pacific Mercantile Bancorp (NASDAQ: PMBC), today announced that it has provided a $7.5 million revolving line of credit to Mason-West, LLC, the premier western regional distributor of engineered seismic restraint systems and vibration isolation products manufactured by Mason Industries of New York.
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Unique Logistics International Announces New Credit Facility with TBK Bank, a Texas State Savings Bank
June 9, 2021Unique Logistics International, Inc. (OTCMKTS: UNQL) ("Unique" or the "Company"), a global logistics and freight forwarding company, today announced the signing of a new $30 million revolving purchase loan with TBK Bank, SSB, a subsidiary of Triumph Bancorp, Inc. (NASDAQ: TBK) and a Texas State Savings Bank.
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LiveXLive Announces New Two-Year $7 Million Secured Revolving Credit Facility and Extends Maturity of its Existing Subordinated Secured Convertible Notes
June 9, 2021LiveXLive Media (Nasdaq: LIVX) ("LiveXLive"), a global platform for livestream and on-demand audio, video and podcast/vodcast content in music, comedy and pop culture, and owner of PodcastOne, Slacker Radio, React Presents and Custom Personalization Solutions, announced today that it has entered into a new two-year $7 Million secured revolving credit facility that will bear interest at the Prime Rate plus 0.5%.
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InterNex Capital Issues $4.1MM Line of Credit and Term Loan to Wine & Spirits Company
June 9, 2021InterNex Capital recently closed a $4.1MM line of credit and term loan for a decade-old liquor and wine importer and distributor based in New York. The company sought financing to purchase the assets of two other companies.
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First Business Bank Closes $2 Million Factoring Facility to Transportation Company
June 9, 2021First Business Bank announces the closing of a $2 million factoring facility by its Accounts Receivable Financing group. The client, which provides transportation services across the Midwest, previously was a client within First Business Bank’s Asset-Based Lending team and then moved on with another lender. During that time, they maintained a relationship with First Business Bank, and when they had to find a new lender, they returned.
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Quasar Capital Partners Announces John Center as President
June 9, 2021Quasar Capital Partners, a provider of customized lending solutions for small businesses in the US and Canada with facility sizes ranging from $1,000 to $5M, today announced that John Center has been named as President. Center has spent his entire professional career in commercial finance serving in portfolio development and relationship management roles. Most recently, he served as Senior Vice President of Blacksail Capital Partners and prior to that as Vice President of client relationship management of Far West Capital.
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Hilco Corporate Finance Announces Appointment of Industry Leader Geoffrey Frankel as Chief Executive Officer
June 8, 2021Hilco Corporate Finance (HCF) announced today that Geoffrey Frankel has joined the organization as Chief Executive Officer. In this capacity, Mr. Frankel will be responsible for leading the growth of our corporate finance business as we expand our special situations capabilities and grow our current investment banking, valuation and strategic advisory practice by delivering strategic solutions such as recapitalization, debt restructuring, business expansion, liquidity creation, sale of a business, ownership succession, and management transition solutions.
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Crossroads Provides $1.5 Million Inventory Revolver for the Benefit of a Chemical Processing and Manufacturing Company
June 8, 2021Crossroads Financial, a leading provider of stand-alone inventory financing, has recently provided a $1.5 Million inventory revolver to a chemical processing and manufacturing company. Located in Texas, the company has been a family run business since 1970. They specialize in contract manufacturing and tolling, supplying their products to many of the world's leading chemical companies.
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FGI Provides £10 MM ABL Facility for Aartee Bright Bar
June 8, 2021A renowned Midlands-based UK business, Aartee Bright Bar has a strong history in manufacturing engineering-grade steel bars to customers globally. As one of Europe’s premier bright bar producers, they provide tailored solutions and world-class quality to meet the needs of their clients. Aartee’s unique range of products include Round, Hexagon, Square, and Flat cold-drawn steel bars, distributed throughout the UK, EU, and USA.
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Triumph Commercial Finance Expands ABL Originations Team
June 8, 2021Triumph Commercial Finance, a division of TBK Bank, SSB, is pleased to announce Jason Nichols as Senior Vice President, Business Development Officer. Based in Dallas, Nichols is responsible for sourcing $5 to $50 million asset based and lender finance deals for the Southwest and Midwest region.
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Axiom Bank Expands Commercial Banking Team in Tampa
June 8, 2021Axiom Bank, N.A., a Maitland-based, leading community bank, has expanded its team with the hiring of Sul Hemani as VP, SBA Relationship Manager. In this new role, Hemani will help further grow Axiom Bank’s government-guaranteed lending program by generating new SBA and USDA loans.
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SLR Credit Solutions Agents $130,000,000 Term Loan for Revlon
June 8, 2021SLR Credit Solutions (“SLR”) announced the closing of a $130,000,000 Senior Secured Last Out Term Loan for Revlon (the “Company”). Founded in 1932, Revlon is a leading global beauty company offering innovative and on trend products in color cosmetics, skin care, hair color, hair care and fragrances under brands such as Revlon, Elizabeth Arden, Almay, CND and American Crew.
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Leading Superfood Supplier Selects Dwight Funding for $1.5mm in Debt Financing
June 8, 2021Dwight Funding recently closed $1.5mm in funding to a leading supplier of nutritional products and superfoods. Dwight’s portfolio of growth stage businesses includes some of today’s biggest movers in the consumer-facing food space, and this recent addition is a natural extension of the lender’s foothold in the industry.
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Eagle Point Credit Management Appoints Nate Morse as Head Corporate Trader
June 8, 2021Eagle Point Credit Management LLC (“Eagle Point”), a specialist asset manager focused on investing in CLO securities, portfolio debt securities and other credit investments, has appointed Nate Morse as Head Corporate Trader, effective today. He will report to Managing Partner Thomas Majewski, and Principal and Portfolio Manager Dan Spinner.
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Tivity Health Announces New Senior Secured Credit Facilities
June 8, 2021Tivity Health, Inc. (Nasdaq: TVTY) (the "Company"), a leading provider of healthy life-changing solutions, including SilverSneakers®, today announced that it has launched the syndication of new senior secured credit facilities, comprised of a senior secured revolving facility and a senior secured term loan B facility (the "senior secured credit facilities"). Morgan Stanley, Credit Suisse and Truist Bank are acting as joint lead arrangers and bookrunners for the transaction.
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DirectBooks Welcomes Scotiabank, Rabo Securities and Huntington Capital Markets
June 8, 2021DirectBooks, the capital markets consortium founded to optimize global financing markets, today announced that Scotiabank, Rabo Securities and Huntington Capital Markets have joined the DirectBooks platform. The addition of these dealers increases the sell-side participation to fifteen firms. The platform was launched in Q4 2020 with deal announcement functionality for U.S. Dollar Investment Grade issuances globally with the recent addition of Euro and Sterling deals in April 2021. Onboarding of additional underwriters and institutional investors will continue throughout 2021.
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SSR Mining Announces US$200 Million Senior Secured Revolving Credit Facility
June 8, 2021CIBC acted as the Sole Lead Arranger, Sole Bookrunner and as Administrative Agent in connection with the amended Credit Facility, with Bank of Montreal and The Bank of Nova Scotia acting as Co-Syndication Agents. The other syndicate lenders include Royal Bank of Canada and ING Capital LLC.
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CIT Serves as Sole Lender on $20 Million Credit Facility for GEE Group Inc.
June 8, 2021CIT Group Inc. (NYSE: CIT) today announced that its Asset-Based Lending business served as agent and sole lender on a loan and revolving credit facility for GEE Group Inc. (NYSE American: JOB), a leading provider of professional staffing services and human resources solutions. Proceeds from the financing will be used to pay off existing debt and for general working capital purposes.
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Jet Edge International Announces $150M Investment from KKR
June 8, 2021Jet Edge International (“Jet Edge” or the “Company”), a global leader in full-service private aviation responsible for operating the largest fleet of managed Challenger and Gulfstream aircraft in the United States, and KKR, a leading global investment firm, today announced that credit funds and accounts managed by KKR have agreed to provide a credit facility of up to $150 million to Jet Edge. The funding will be used to support the acceleration of the Company’s broad infrastructure, digital initiatives, Reserve membership, and comes as Jet Edge rolls out its AdvantEdge charter management platform nationwide.
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Ares Commercial Finance Has Provided a $20 Million Accounts Receivable Securitization to K&N Funding, LLC
June 8, 2021Ares Commercial Finance (“ACF”) announced that it has provided a $20 million accounts receivable securitization for K&N Funding, LLC, an affiliate of K&N Engineering, Inc. (“K&N®”). K&N®, a portfolio company of funds managed by Goldman Sachs Asset Management, is an industry-leader in aftermarket automotive filtration and other performance products. The financing provides incremental financial flexibility to support the company’s future growth.
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