- Dwight Funding Announces Select Credit Facilities for Growth-Stage Consumer Brands-$2M
- Market Sizing & Impact Study 2023
- Eversheds Sutherland Welcomes Phyllis Young as Finance Partner in Texas, Strengthening Finance Practice Group’s Transactional and Restructuring Capabilities
- Gateway Completes a Record 39 Stretch Deals in 45 Days Totaling $15 Million
- Versant Funds $5 Million Non-Recourse Factoring Facility to Service Provider
TSL Express Daily Articles & News
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Saks OFF 5TH Closes ABL and Term Loan Facilities to Further Enhance Liquidity
Saks OFF 5TH, the premier online luxury off-price destination, has closed on a syndicated $125 million asset-based five-year revolving credit facility jointly arranged by Citibank and Citizens and a $20 million term loan arranged by Callodine Commercial Finance.
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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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Winston & Strawn Expands Its Global Leveraged Finance Team with Addition of Andrew Hutchinson in Chicago
March 15, 2021Winston & Strawn LLP is pleased to announce the addition of Andy Hutchinson as a partner in the firm’s Chicago office, and as a member of its Global Leveraged Finance Team. Andy is a respected leveraged finance attorney with broad experience representing direct lenders, banks, investment banks, and private equity sponsors, with a particular focus on the middle market and on key sectors such as software, health care, and hospitality.
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Fourshore Partners Announces Acquisition of Genesis Capital Finance
March 15, 2021Fourshore Partners (“Fourshore”) announced today its acquisition of a majority stake in Genesis Capital Finance (“Genesis,” “GCF”), a specialty finance company that provides commercial loans to independent owner operators in the long-haul trucking industry.
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GoldenTree Loan Management II, Affiliated Investment Managers Close $698M CLO
March 15, 2021GoldenTree Loan Management II and affiliated investment manager GoldenTree Asset Management completed a $698 million collateralized loan obligation, to be managed by the former. With the closing of the GoldenTree Loan Management US CLO 9, the companies and other affiliated investment managers have issued 14 CLOs, amounting to over $8 billion under their GLM CLO strategy.
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Laura Ashley Launches New Collection with NEXT
March 15, 2021Gordon Brothers, the global advisory, restructuring and investment firm and owner of the British heritage brand Laura Ashley®, announced the iconic home and lifestyle brand launched its spring 2021 collection online and in select NEXT plc stores. The collection features the classic and recognizable Laura Ashley homeware, alongside an array of new designs.
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Alvarez & Marsal Bolsters Supply Chain Services
March 15, 2021Leading global professional services firm Alvarez & Marsal (A&M) has appointed Paul Fanella a Managing Director in Supply Chain Services within its Corporate Performance Improvement practice. Mr. Fanella’s end-to-end supply chain management expertise boosts A&M’s ability to deliver meaningful cost-reduction and productivity-enhancements and builds upon the firm’s commitment to drive savings and efficiency results for clients.
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