- Gateway Completes a Record 39 Stretch Deals in 45 Days Totaling $15 Million
- Honigman Expands to 14 in Israel with Technology Transactions Attorney Adam Snukal
- Hilco Global Seeks Offers to Acquire Non-Core Patent Portfolio of Locus Fermentation Solutions
- NXT Capital Closes Senior Credit Facility in Support of Align Capital Partners’ Refinancing of ISPN Network Services
- Gateway Completes a Record 39 Stretch Deals in 45 Days Totaling $15 Million
TSL Express Daily Articles & News
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Integer Reduces Borrowing Costs and Increases Flexibility with New Senior Secured Credit Facilities
Integer Holdings Corporation (NYSE: ITGR), a leading medical device outsource manufacturer, today announced that as a result of its financial strength and favorable debt markets, the company has successfully raised $1 billion in Senior Secured Credit Facilities (“New Facilities”) to refinance its existing debt (the “Transaction”). The New Facilities consist of a five-year $400 million Revolving Credit Facility, a five-year $250 million Term Loan A and a seven-year $350 million Term Loan B.
Wells Fargo Bank, National Association is acting as Administrative Agent, Swingline Lender and Issuing Lender. Wells Fargo Securities, LLC, BofA Securities, Inc., Fifth Third Bank, National Association, Keybanc Capital Markets, Inc., Citigroup Global Markets Inc. and Santander Bank, N.A. acted as Joint Lead Arrangers and Joint Bookrunners.
Wells Fargo Bank, National Association is acting as Administrative Agent, Swingline Lender and Issuing Lender. Wells Fargo Securities, LLC, BofA Securities, Inc., Fifth Third Bank, National Association, Keybanc Capital Markets, Inc., Citigroup Global Markets Inc. and Santander Bank, N.A. acted as Joint Lead Arrangers and Joint Bookrunners.
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TSL Express Daily Headlines & News
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LSQ Provides $1.5MM Growth Capital to SC Manufacturing Business
April 28, 2021LSQ, a leading provider of technology-driven working capital solutions, announced the origination of a $1.5 million facility for a growing South Carolina manufacturing company distributing DIY products to one of the largest home improvement retailers in the U.S.
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exactEarth Announces $6 Million Revolving Credit Facility from National Bank of Canada
April 27, 2021exactEarth Ltd. ("the Company") (TSX: XCT), a leading provider of Satellite-AIS data services announces that it has entered into a new credit facility ("Credit Facility") that provides for a $6 million secured revolving operating line with National Bank of Canada's ("NBC") Technology and Innovation Banking Group. The Credit Facility is undrawn as of today's date.
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Farmer Bros. Co. Announces New Credit Facilities
April 27, 2021Farmer Bros. Co. (NASDAQ: FARM) (the “Company”) announced today the finalization of a new $ 127.5 million, four-year financing arrangement, which includes an $80.0 million asset-backed revolving credit facility and $47.5 million term loan due April 2025. The financing was led by Wells Fargo Bank. In accordance with the terms of the financing agreement, the proceeds may be used for general corporate purposes and the Company may prepay amounts borrowed under the asset-backed revolving credit facility at any time without premium or penalty.
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Banking Industry Veteran Jorge Puig Joins Flatbay Capital’s Leadership Team
April 27, 2021Flatbay Capital LLC (“Flatbay”) (www.flatbaycapital.com) is pleased to announce that industry veteran, Jorge Puig (formerly at Bank of America) has joined Flatbay Capital as a Managing Partner. Jorge will join the firm’s credit committee, manage part of the business development team, and collaborate with founder Elliot Smith on expanding the firm's bank relationships.
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SG Credit Partners Provides $2.0 Million to SaaS Marketing Analytics Company
April 27, 2021SG was able to get comfortable with the transaction due to the Company’s strong management team, blue chip customer base, enterprise value, and its supportive cap table. SG provided a $2MM senior secured facility with an interest-only period and modest amortization to payoff the bank and support the Company’s ARR growth with non-dilutive capital.
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Triumph Business Capital Appoints Amber Roy as Chief Operating Officer
April 27, 2021Triumph Business Capital, a member of the Triumph Bancorp, Inc. (Nasdaq: TBK) group and provider of working capital financing solutions to small and medium-sized business, announced today the appointment of Amber Roy as chief operating officer. Roy will report to its chief executive officer, Geoff Brenner.
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Jacqueline Reyes is Promoted to Senior Vice President, BSA/AML/OFAC Officer at Peapack-Gladstone Bank
April 27, 2021Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC) and Peapack-Gladstone Bank announce the elevation of Jacqueline Reyes to senior vice president, Bank Secrecy Act (BSA)/Anti-Money Laundering (AML)/Office of Foreign Assets Control (OFAC) officer at Peapack-Gladstone Bank.
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SierraConstellation Partners Hires Jim Peters to Lead Newly-Formed Performance Improvement Practice
April 27, 2021SierraConstellation Partners (SCP), a national interim management and advisory firm to middle-market companies in transition, has hired Jim Peters, a trusted advisor to CEOs, boards and management teams for over three decades, as a Managing Director to lead the firm’s newly-formed Performance Improvement practice.
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Loan Default Forecast Reduced to 2.5% for 2021, 2.5%-3.5% for 2022
April 27, 2021The Market Concern Loans total declined for the 12th straight month and is now off 22% from the April peak, but still up 16% from pre-pandemic levels. The current $200.9 billion total, the lowest amount since February 2020, is heavily concentrated in the Other Market At-Risk Loan Issuers at 43%, and Tier 2 Market Concern Loans at 39%. Fitch's Top Market Concern Loans list stands at $37 billion, falling 47% from the April highs.
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AdaptHealth Corp. Announces $300 Million Expansion of Its Credit Facilities to Fund Anticipated M&A Activity
April 26, 2021Regions Capital Markets, a division of Regions Bank, acted as Lead Arranger and sole Administrative Agent in connection with the incremental senior secured credit facility, and Citizens Bank, N.A. and Truist Securities, Inc. acted as Joint Lead Arrangers on the credit agreement expansion.
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exactEarth Announces $6 Million Revolving Credit Facility from National Bank of Canada
April 26, 2021exactEarth Ltd. ("the Company") (TSX: XCT), a leading provider of Satellite-AIS data services announces that it has entered into a new credit facility ("Credit Facility") that provides for a $6 million secured revolving operating line with National Bank of Canada's ("NBC") Technology and Innovation Banking Group. The Credit Facility is undrawn as of today's date.
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J D Factors Announces Factoring Facilities
April 26, 2021J D Factors announces it has provided the following factoring facilities: $150,000 to a transportation company in California; $200,000 to a transportation company in Pennsylvania; $100,000 to a transportation company in British Columbia and $75,000 to a textile manufacturing company in Tennessee.
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Sallyport Commercial Finance Arms Health Food Manufacturer with $500,000 Accounts Receivable Facility
April 26, 2021Calum Willamson, Sallyport Managing Director states; “We worked with the prospect and their incumbent back to agree a way forward that allowed Sallyport to inject new working capital going forward, helping the turnaround of this healthy snack company in Western Canada. We look forward to helping the business thrive and grow going forward.”
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North Mill Equipment Finance to Expand Operations with 14 New Staff Members
April 26, 2021New team members represent several departments spanning the organization and include the following people in alphabetical order: Jeffrey Allen, Robert Geary, Anthony “AJ” Giertych, Demostenes Gonzalez, Karen Houser, Kathryn LeConey, Jessica Link, Naushin Mehdi. Michael P. Morris, Yafreisi Olivo-Arredondo, Trevor Smith, Denise Steinberger, Mitchell Tobak and James Weyand.
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Metropolitan Capital Selects IDS Asset Based Lending (ABL) Technology to Deliver Working Capital Solutions for Small to Medium Businesses
April 26, 2021IDS, a leading provider of enterprise mission-critical solutions for secured finance announced today the Metropolitan Capital Bank & Trust has selected IDS ABL to support their small to medium business customers access to working capital through an easy to use technology platform. The selection of IDS ABL (formerly Stucky ABLM) aligns with the bank’s strategic focus to support their customers through innovative finance solutions supported by best-in-class technology.
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Lighthouse Provides $5,000,000 Credit Facility
April 26, 2021Lighthouse Financial Corp. is pleased to announce the completion of a $5,000,000 credit facility for a Florida-based importer and distributor of premium quality, responsibly-sourced crab meat. For over 25 years, the company has proudly worked to improve oceans and fishing communities with an eye towards sustainability while providing exceptional service to their customer base.
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Scout Clean Energy Secures $50 Million Letter of Credit Facility
April 26, 2021The facility will primarily be used to provide letters of credit to support both existing and upcoming security requirements associated with new project interconnections and power purchase agreements for Scout's growing pipeline of renewable energy projects. With KeyBanc Capital Markets as Coordinating Lead Arranger, along with Rabobank and Wells Fargo, each Joint Lead Arrangers, the corporate credit facility also offers the ability to upsize to $85 million in the future.
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SFNet Weighs in with Lawmakers on Deficiencies in EIDL Loan Program
April 26, 2021On Monday, April 19, SFNet and its members met with Rep. Dan Meuser (R-PA), a member of the House Small Business Committee, to educate him about the secured lending industry as well as discuss specific concerns of SFNet around the Economic Injury Disaster Loan program (EIDL) at the Small Business Administration (SBA).
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Phibro Animal Health Corporation Announces $550 Million Debt Refinancing
April 26, 2021Phibro Animal Health Corporation (NASDAQ:PAHC) announced today that on April 22, 2021, the Company entered into an amended and restated credit agreement jointly arranged by BofA Securities, Inc. and Coöperatieve Rabobank U.A., with Bank of America, N.A. acting as Administrative Agent.
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Signature Bank Announces Both Executive and Senior Management Appointments
April 26, 2021Signature Bank (Nasdaq: SBNY), a New York-based, full-service commercial bank, announced today several management appointments, promotions and transitions, all of which will address its progress to date and future growth and initiatives. After 21 years of dedicated service, Mark Sigona, Senior Executive Vice President and Chief Operating Officer, announced his retirement, effective June 30, 2021. Sigona, a founding member of the executive management team, joined as Senior Vice President and Chief Financial Officer. He served in this capacity until 2004 at which time he was appointed COO.
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