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TSL Express Daily Articles & News
To submit company news and press releases to TSL Express, email tslexpress@sfnet.com.Today's Top Story
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Cambridge Trust Welcomes New Commercial Bankers
Cambridge Bancorp, (NASDAQ: CATC), parent of Cambridge Trust Company, announced the expansion of the bank's lending team in support of the growing needs for commercial and non-profit lending in Massachusetts and New Hampshire.
Cambridge Trust's commercial lending team is building momentum with the addition of two seasoned commercial lending leaders. Bradford J. Buckley and David Semenza bring a combined fifty years of experience to Cambridge Trust's commercial and non-profit lending expertise in New England.
Cambridge Trust's commercial lending team is building momentum with the addition of two seasoned commercial lending leaders. Bradford J. Buckley and David Semenza bring a combined fifty years of experience to Cambridge Trust's commercial and non-profit lending expertise in New England.
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TSL Express Daily Headlines & News
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Slowing Bankruptcy Filings Could Signal Flurry Ahead
November 8, 2021With bankruptcy filings dropping across industries in the third quarter of 2021, professionals expect a wave of activity over the next year, as seen in the newest Polsinelli-TrBK Distress Indices Report. The report’s overall filing numbers are at the lowest point since the benchmark period – nearly 11 years ago.
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Winston & Strawn Represents Goldman Sachs & Co. LLC
November 8, 2021Winston & Strawn represented Goldman Sachs & Co. LLC, as underwriter’s counsel, in the SPAC IPO of 7 Acquisition Corporation. 7 Acquisition Corporation (the "Company") today announced the pricing of its initial public offering ("IPO") of 20,000,000 units at a price of $10.00 per unit.
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Blackstone Establishes Structured Finance Group
November 4, 2021Blackstone (NYSE:BX) today announced the formation of its Structured Finance Group, which brings together Blackstone Real Estate Debt Strategies (“BREDS”) and the firm’s various asset backed finance activities. Jonathan Pollack, currently the Global Head of BREDS, has been named Global Head of the Structured Finance Group. Timothy Johnson, currently the Global Head of Originations for BREDS, will become Global Head of BREDS, overseeing all commercial and residential lending activities.
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Winston & Strawn Represents US Tiger Securities, Inc.
November 4, 2021Winston & Strawn represented US Tiger Securities, Inc. as underwriter counsel in connection with Fortune Rise Acquisition Corporation’s (NASDAQ: FRLA, the "Company") initial public offering ("IPO") of 8,500,000 units at a price of $10.00 per unit. The units are expected to be listed on The NASDAQ Global Market ("NASDAQ") and trade under the ticker symbol "FRLAU" beginning on, November 03, 2021.
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Mercury® Financial Closes on a $400 Million Committed Warehouse Facility
November 4, 2021Mercury® Financial LLC (Mercury Financial), a financial inclusion technology company, today announced the closing of a new $400 million warehouse facility. This transaction increases Mercury Financial’s funding capacity as it continues to grow its customer base and drive its mission for greater financial inclusion through credit access opportunities. This is the second warehouse facility structured and closed during 2021, bringing total warehouse capacity to $650 million.
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Vibrant Capital Partners Bolsters Team With Investment and Business Development Hires
November 4, 2021Vibrant Capital Partners, Inc. (the “Firm”), a leading alternative credit investment manager, today announced that it has bolstered its Structured Credit Investment and Business Development teams with two hires as the Firm continues to expand its investing, marketing, and client service capabilities.
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Houlihan Lokey Launches the Private Performing Credit Index, the First Index to Track Performing Private Credit Loans
November 4, 2021The Index comprises an aggregate view drawn from Houlihan Lokey’s extensive dataset of private credit loan valuations. The initial representation of this dataset is an observation of all-in yield of approximately 7,000 qualifying quarterly asset valuations performed since September 30, 2017. The firm’s automated private credit valuation tool applies certain exclusion and limit rules after which the Index is computed as a weighted average yield of all qualifying private credit loans valued in a quarter.
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CIBC Innovation Banking Supports Harbor Compliance’s Growth Plans With New Strategic Credit Facility
November 4, 2021CIBC Innovation Banking is pleased to announce the funding of an acquisition credit facility for Harbor Business Compliance Corporation (d/b/a Harbor Compliance). Harbor Compliance is a technology company that empowers nonprofits and businesses with licensing, tax, and entity management solutions. Harbor utilized the new capital to finance its acquisition of Labyrinth, Inc.
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Trinity Capital Inc. Further Expands Origination Team with Industry Veteran Phil Gager as Managing Director in the East Coast Region
November 4, 2021Trinity Capital Inc. (Nasdaq: TRIN) ("Trinity Capital" or "Trinity" or "Company"), a leading specialty lender providing debt and equipment financing to growth-stage companies, today announced the appointment of Phil Gager as Managing Director, Origination in Boston, Massachusetts. Gager, who has been a part of the venture ecosystem for over 20 years, joins the Trinity team to grow the company's origination efforts in the East Coast region.
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Encina Lender Finance Fuels Continued Growth With Four New Hires
November 4, 2021Encina Lender Finance, LLC (ELF) announced today the addition of Dan Avnir to its Commercial team, as Managing Director; Jessica Ernst and Jeff Karlsson to its Risk team as Portfolio Manager and Senior Associate, respectively; and Denise Richardson, to its Operations department, as Collateral Analyst.
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Assembled Brands Announces a New Facility with High-Growth Olive Oil Brand Kosterina
November 4, 2021Assembled Brands is delighted to announce its new partnership with premium olive oil brand Kosterina. The brand was founded in 2016 by Katerina Mountanos, a serial entrepreneur passionate about family, living a healthy lifestyle and all things Greek.
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CIT Arranges $55.5 Million Financing for Home Care and Hospice Provider New Day Health Care
November 4, 2021CIT Group Inc. (NYSE: CIT) today announced that its Healthcare Finance business served as sole lead arranger on $55.5 million in financing for New Day Healthcare. New Day Healthcare, founded by long term home care executive G. Scott Herman, partners with market-leading home health and hospice providers in the post-acute care arena to care for 7,500 patients across Missouri, Kansas, Illinois and Texas.
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Quasar Capital Partners Appoints Sam Tork to its Advisory Board of Directors
November 4, 2021Quasar Capital Partners, LLC is pleased to announce the appointment of Sam Tork to its Advisory Board of Directors. As a member of the advisory board, Sam Tork will guide with strategic priorities and serve as a senior member of Quasar Capital Partner’s credit, asset review, and strategic planning committee.
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GameStop Secures New $500 Million ABL Facility with Improved Liquidity and Terms
November 4, 2021GameStop Corp. (NYSE: GME) (“GameStop” or the “Company”) today announced that it has entered into a new $500 million global asset-based revolving credit facility (“ABL Facility”) with a syndicate of banks. Wells Fargo Bank, N.A. acted as Lead Arranger and will serve as Administrative Agent.
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LiquidX Named Finalist for Singapore Global FinTech Awards 2021
November 3, 2021LiquidX’s Digital Trade Credit Insurance platform was selected for recognition at the annual awards, which celebrate groundbreaking solutions that transform industry practices. The Monetary Authority of Singapore (MAS) has named LiquidX Insurance Services (Singapore) Pte. Ltd. a finalist for the Singapore FinTech Festival (SFF) Global FinTech Awards 2021 in the Singapore Financial Institution category. The awards are a highlight of the annual festival, which takes place November 8-12, 2021.
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First Internet Bank To Buy First Century Bancorp In $80 Mln Cash Deal
November 3, 2021First Internet Bancorp (INBK), the parent company of First Internet Bank, said on Tuesday that it signed a definitive agreement to acquire First Century Bancorp, the parent company of First Century Bank, N.A. for $80 million in cash.
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SMBC Nikko Securities America Hires Paul Spivack as Managing Director, Deputy Head of Capital Markets
November 3, 2021SMBC Nikko Securities America, Inc., a member of SMBC Group, today announced that Paul Spivack has joined the firm as Managing Director, Deputy Head of Capital Markets. In this role, he will work closely with the firm’s debt business, providing his advice and counsel to help drive further growth for this unit. He will report to Scott Ashby, Managing Director, Head of Capital Markets and Investment Banking, Senior Deputy President.
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ABL Aviation and Ellington Management Group Establish Joint Venture Targeting $800 Million in Aircraft Assets
November 3, 2021ABL Aviation, the global independent aircraft investment management firm, today announced that it has established a joint venture with Ellington Management Group (“Ellington”), an alternative investment manager, to opportunistically deploy capital across the global aviation industry and provide exposure to directly sourced deals.
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Winston & Strawn Represents Project Energy Reimagined Acquisition Corp.
November 3, 2021Winston & Strawn represented Project Energy Reimagined Acquisition Corp. (the "Company"), a special purpose acquisition company, in its $250 million initial public offering. The units began trading on The Nasdaq Global Market ("Nasdaq") under the ticker symbol "PEGRU" on October 29, 2021.
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Alleon Healthcare Capital Provides a $2,000,000 Medical Accounts Receivable Financing Facility to a Florida-Based Skilled Nursing Facility Operator
November 3, 2021Alleon Healthcare Capital ("Alleon"), a specialty finance company focused on providing healthcare accounts receivable financing, medical accounts receivable factoring, and cash flow solutions to medical providers in the U.S., recently closed a $2,000,000 medical accounts receivable financing facility with a skilled nursing facility operator
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