- Republic Business Credit Supports Growth of Emerging Footwear Manufacturer with a $750,000 Factoring Facility
- Pathlight Capital Closes Fourth ABL Credit Fund and Second Evergreen Tranche With $1.9 Billion of Commitments
- SouthStar Capital Provides $5 Million Accounts Receivable Financing Facility for a Growing Commercial Construction Company
- Justin Rutledge Joins First Horizon Bank as Charlotte Market President
- Law Firms Winston & Strawn, Taylor Wessing in Talks to Merge
TSL Express Daily Articles & News
To submit company news and press releases toTSL Express, email tslexpress@sfnet.com.
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Hilco Corporate Finance Announces Hiring of Evan Blum as Managing Director
Hilco Corporate Finance (HCF) announced today that Evan Blum has joined the organization as Managing Director. In this role, Mr. Blum will leverage his deep understanding of special situation corporate finance (distressed M&A advisory, private financings, and financial restructuring) to grow the HCF investment banking business.
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New Research Shows High Market Optimism for Receivables Finance
March 17, 2021EQ (Equiniti Group plc) is delighted to announce that its risk management business, EQ Riskfactor, today launches a series of new reports called the Receivables Finance Global Outlook. EQ Riskfactor’s established risk management technology uses automation to identify potential frauds using advanced analytics which highlight unusual activity, so that lenders can investigate and reduce risk. The technology also helps lenders to eliminate manual processes saving time and money.
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FocalPoint Advises ImageOne on its Refinancing by MidCap Financial & Catalur Capital Management
March 17, 2021ImageOne Interco, LLC (“ImageOne” or the “Company”), a portfolio company of Innovating Capital Management LLC (“Innovating Capital”), has announced the successful refinancing of its existing senior debt facility through a revolving line of credit from a syndicate of lenders led by MidCap Financial Trust (“MidCap Financial”) and a term loan facility from Catalur Capital Management, LP (“Catalur Capital Management”). FocalPoint Securities, LLC ("FocalPoint") served as exclusive financial advisor to the Company.
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Sterling National Bank Provides $5,000,000 Senior Secured Credit Facilities
March 17, 2021Sterling National Bank's Commercial Services Group provided senior secured credit facilities totaling $5,000,000 to Nextaff Group LLC. (“Nextaff” or the “Company”). Headquartered in Overland Park, KS, Nextaff is a nationwide staffing agency, with each office locally owned and operated for a more in-depth, streamlined hiring process. Founded in 1998, the Company offers custom solutions in a variety of industries.
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Citizens Advises Tube Processing Corporation in its Sale of its Commercial Tube Processing Division to Nelson Global Products
March 17, 2021Citizens M&A Advisory announced today that it served as the exclusive M&A advisor to Tube Processing Corporation in its sale of its Commercial Tube Processing Division (CTP) to Nelson Global Products, a portfolio company of Wind Point Partners. Established in 1974, CTP is a manufacturer of complex, high-performance tube assemblies, metal fabrications and precision weldments for OEMs in a diverse set of end markets including on-highway, off-highway, construction and military durable equipment.
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SLR Equipment Finance Announces That Jeffrey Bauer has Joined
March 17, 2021SLR Equipment Finance, formerly known as Nations Equipment Finance, expands its business development capabilities and announces that Jeffrey Bauer has joined the company. SLR Equipment Finance is pleased to announce it has hired Jeffrey Bauer as Senior Vice President of Business Development. In his role, Jeff will be responsible for growing SLR Equipment Finance’s leasing and lending activities in the MidAtlantic region of the U.S.
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Yum! Brands, Inc. Completes Refinancing of Senior Secured Credit Facilities
March 16, 2021Yum! Brands, Inc. (NYSE: YUM) (the “Company”) today announced that certain subsidiaries that operate the Company’s KFC, Pizza Hut and Taco Bell businesses have completed the refinancing of the existing approximately $1.9 billion term loan B facility, approximately $431 million term loan A facility and approximately $1.0 billion revolving facility (the “Existing Facilities”) through the issuance of a $1.5 billion term loan B maturing March 15, 2028 (the “Term B Loan”), a $750 million term loan A maturing March 15, 2026 (the “Term A Loan”) and a $1.25 billion revolving credit facility maturing March 15, 2026
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Minim Secures $13.0 Million Credit Facility with Silicon Valley Bank
March 16, 2021Zoom Telephonics, Inc., doing business as Minim (OTCQB: MINM) ("Minim"), the creator of innovative internet access products, today announced that it has closed on a $13.0 million credit facility in partnership with Silicon Valley Bank in lieu of its previous $5.0 million credit facility. This announcement follows a record-breaking quarter and year in Minim’s revenue.
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Tronox Completes Senior Notes Offering and Announces Closing of New Credit Facilities
March 16, 2021Tronox Holdings plc (NYSE: TROX; the "Company") today announced that it completed its offering by its wholly owned subsidiary, Tronox Incorporated (the "Issuer"), of 4.625 percent Senior Notes due 2029 for an aggregate principal amount of $1,075 million, the net proceeds of which, along with cash on hand, will be used to fund the redemption in full of the Issuer's outstanding $615 million aggregate principal amount of 6.500 percent senior notes due 2026 and the redemption in full of Tronox Finance plc's outstanding $450 million aggregate principal amount of 5.750 percent senior notes due 2025.
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Oxford Finance Provides $57.2 Million Credit Facility to Pointe Group Care
March 16, 2021Oxford Finance LLC (“Oxford”), a specialty finance firm that provides senior debt to healthcare services and life sciences companies worldwide, today announced the closing of a $57.2 million senior credit facility and revolving line of credit to Pointe Group Care LLC ("PGC"), an owner and operator within the skilled nursing and assisted living industry.
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PlainsCapital Bank Welcomes New Denton Banking Group
March 16, 2021PlainsCapital Bank recently welcomed a new lending team to serve the Denton area. Ernie McGee serves as president, James E. Posey and Alex Eysermans serve as senior vice presidents and commercial loan officers, while Kevin Hodge serves as commercial loan officer, and Jeanette Hoffman serves as senior lending assistant.
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Wells Fargo Survey: Construction Industry Hopeful About 2021, Despite Optimism Dip
March 16, 2021Wells Fargo today released the results of its 45th annual Construction Industry Forecast, revealing an initial decline in sector sentiment on the tail end of a complicated year, and a renewed optimism for the second half. In November2020, the bank queried hundreds of industry executives to determine the 2021 U.S. National Optimism Quotient (OQ). Survey results show that leaders ended 2020 feeling cautiously optimistic with a 2021 OQ score of 78, representing a 21-point drop from 2020.
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mBank Business Credit Funds $2,500,000 Line of Credit for an Illinois-based Manufacturer
March 16, 2021An Illinois manufacturer of drainage piping and plastic tubing was looking for a new lender. mBank Senior Management personally visited the client and reviewed their plans and met with all management and their consulting firm. mBank then presented the company with a customized financial package that met their needs. The loan closed in February 2021.
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Harbor is Among the First Trade Finance Providers to Cut Cryptocurrencies to Work
March 16, 2021Harbor reached another milestone this week by funding more than $1 million in trade finance transactions utilizing Decentralized Finance or “DeFi.” The fund was launched in the last quarter of 2020 in collaboration with Centrifuge with the goal of bringing a real-world asset like accounts receivable to DeFi, a financial system independent of centralized banking and currencies.
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Stonebriar Celebrates its Sixth Year Anniversary
March 16, 2021Stonebriar Commercial Finance (“Stonebriar”) is celebrating its sixth anniversary this week, having closed another record year with new funded volume of $1.43 billion in structured leases and loans, and driving a 36% year-over-year increase in operating income. Equally as important, Stonebriar has completed its sixth consecutive year with zero credit losses.
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WEX Inc. Announces Plans for Potential Debt Refinancing
March 15, 2021WEX Inc. (NYSE: WEX), a leading provider of corporate payment solutions (the “Company”), today announced that it is providing certain prospective lenders information for purposes of considering a potential refinancing of its credit facility, including among other things extending the maturity date of the tranche A term loans and revolving credit facility to 2026 and the tranche B term loans to 2028.
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Duane Morris Grows New York Office With Addition of Partners David M. Hryck, Christopher W. Healy, C. Neil Gray and Economist Theodor van Stephoudt
March 15, 2021David M. Hryck, Christopher W. Healy and C. Neil Gray have joined Duane Morris LLP’s New York office as partners in the firm’s Corporate and Trial practice groups. Economist Theodor van Stephoudt will join Duane Morris as well. The attorneys and van Stephoudt join the firm from Reed Smith LLP.
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J D Factors Announces Factoring Facilities
March 15, 2021J D Factors announced it provided the following factoring facilities: $120,000 to a transportation company in Illinois; $400,000 to a transportation company in Iowa; $75,000 to a transportation company in Virginia; $250,000 to a transportation company in Illinois.
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Retail and Other Bankruptcies Could Rise in Second Half of 2021, Says A&G Executive at TMA Conference on Distressed Investing
March 15, 2021Struggling retailers, office tenants, restaurants and other businesses could be ‘pushed over the edge in 2021,’ but A&G’s Doug Greenspan predicts eventual rebound in resorts and dining/entertainment, as well as continued cooperation between retailers and landlords.
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Hunter Point Capital Adds Brad Coleman to Lead GP Coverage Group
March 15, 2021Hunter Point Capital (“HPC”) an independent investment firm focused on taking minority stakes in middle-market alternative asset managers, announced today that Brad Coleman will be joining as a partner to lead the firm’s GP Coverage Group. At HPC, Mr. Coleman will continue the thought leadership and strategic advice for alternative investment managers for which he has become well-known.
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BHI Commercial and Industrial Group Provides $6 Million Financing for PISEC Group America
March 15, 2021BHI, a full-service commercial bank, announced that its Commercial & Industrial Group has closed a $6 million credit facility for Pisec Group America LLC. The financing provides a one-year line of credit that the company will employ for working capital and corporate purposes.
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