- EBSC Lending Provides $21.3 Million in Construction Financing for 1,775-Unit Self-Storage Development in Stockton, California
- Mesabi Metallics Secures $150 Million from Macquarie Group
- CPS Announces Credit Facility Capacity Increase
- Republic Business Credit Adds Jerry Friedrichs as Senior Vice President to Strengthen Underwriting Excellence
- TradeCap Partners Provides $4 Million Purchase Order Funding Facility to Support Growth for Northeast Industrial Parts and Materials Distributor
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Dorel Enters Into New US$450 Million Credit Facility
Dorel Industries Inc. (TSX: DII.B, DII.A) today announced that it and several of its subsidiaries have entered into a new US$450 million senior secured asset based revolving financing with institutional lenders led by Bank of Montreal as lead arranger, administrative agent and sole bookrunner. The new credit facility, which is guaranteed by certain of Dorel’s subsidiaries, will mature two years from the date of the initial advance thereunder and may be extended for additional one-year terms with the consent of the lenders.
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Moritt Hock Ranked Best Law Firm By U.S. News & World Report Best Lawyers
November 5, 2020U.S. News & World Report and Best Lawyers®, for the eleventh consecutive year, announce the "Best Law Firms" rankings. Moritt Hock & Hamroff has been ranked in the 2021 U.S. News - Best Lawyers® "Best Law Firms" list nationally in 1 practice area and regionally in 1 practice area.
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B. Riley Advisory Services Opens Office in Mexico
November 5, 2020B. Riley Advisory Services, a specialty financial advisory services firm and subsidiary of B. Riley Financial, Inc. (NASDAQ: RILY), today announced the opening of an office in Mexico. B. Riley Advisory Services de Mexico. S. de R.L. ("B. Riley Advisory Services de Mexico") will be led by Gaston Mauvezin, a seasoned executive with 20+ years of leadership experience at firms in the Automotive, Financial Services, Real Estate, Agribusiness, Industrial and Consumer markets in Argentina, Brazil and Mexico.
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Webster Promotes Jonathan W. Roberts to Lead Retail Banking and Consumer Lending
November 5, 2020Webster Financial Corporation (NYSE: WBS), the holding company for Webster Bank, N.A. and its HSA Bank division, is pleased to announce that Executive Vice President Jonathan W. Roberts has been promoted to Head of Retail Banking and Consumer Lending at Webster Bank and Webster Financial Corporation. In his role, he will oversee retail operations and the banking center network, and will lead core consumer products and services, including small business banking. Roberts will report directly to Chairman, President and CEO John R. Ciulla.
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Udacity Signs $75M Debt Facility with Hercules Capital
November 5, 2020Udacity, a Mountain View, CA-based global online learning platform educating workers for the careers of the future, signed a $75m debt facility with Hercules Capital (NYSE: HTGC). The company intends to use the funds to continue to expand operations and its business reach.
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WSFS Bank Adds Experienced Commercial Banking Team in Philadelphia
November 5, 2020WSFS Bank, the primary subsidiary of WSFS Financial Corporation (Nasdaq: WSFS), today announced the expansion of its Commercial Banking team in the Greater Philadelphia area as part of its strategic plan to invest in talent and build long term value. The team joining WSFS Bank is Kevin J. Beaford, Jr., Patrick Fisher, Graham R. Palusky, and Brian Quach. Fisher will lead the group, which brings more than 40 years of combined experience to WSFS. He will report directly to Steve Clark, Executive Vice President, Chief Commercial Banking Officer.
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BlackRock Capital Investment Corporation Announces Appointments of Nik Singhal as President and Abby Miller as CFO and Treasurer
November 5, 2020BlackRock Capital Investment Corporation (NASDAQ: BKCC) ("BCIC" or the "Company") announced today the appointments of Nik Singhal as President, effective November 3, 2020, and Abby Miller as Chief Financial Officer and Treasurer, to be effective as of November 9, 2020, at which time Michael Pungello, Interim Chief Financial Officer and Treasurer will step down from those posts. The Company also announced the planned retirement of Mr. Pungello from BlackRock in March 2021. Mr. Pungello will serve in an advisory role until then.
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Hilco Redevelopment Partners Hires Real Estate Industry Professional George Needs as Vice President – Mixed Use Development
November 5, 2020Mr. Needs joins the growing HRP organization and will be a vital addition to the new urban mixed-use development team. Mr. Needs will join Melissa Schrock, who was recently brought on to lead the team, and together, they will be responsible for managing several exciting projects currently underway, including L Street Station in Boston, Massachusetts and Campus Bay in San Francisco, California, among other significant projects throughout the country. He will be based on Boston, MA.
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Sterling National Bank Provides $3,000,000 to a Staffing Solutions Firm
November 5, 2020Sterling National Bank's Commercial Services Group provided senior secured credit facilities totaling $3,000,000 to a staffing solutions firm located in New York, NY. The transaction was originated by Robert Mocerino, a Managing Director located in Jericho, NY.
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Tiger Auctioning Assets From One of Canada’s Largest AV Rental Houses
November 5, 2020In a three-day online auction event scheduled for November 17-19, Tiger Group will be selling gear from the recently closed Westbury National Show Systems Ltd. (“Westbury”), which had long been one of Canada’s largest full-service live event rental production companies. Westbury, which operated from an approximately 60,000-square-foot facility in metro Toronto, was placed in receivership on October 9, 2020.
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Monroe Capital Corporation Announces Third Quarter 2020 Business Development Company Results
November 5, 2020Third Quarter 2020 Financial Highlights: • Paid quarterly dividend of $0.25 per share; • Current annual cash dividend yield to shareholders of approximately 15.3%1; • Shares trading at a Price to NAV of 0.60x2; • Net Investment Income of $5.6 million, or $0.26 per share; • Adjusted Net Investment Income of $5.8 million, or $0.27 per share; and • Net increase in net assets resulting from operations of $15.2 million, or $0.71 per share
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Hilco Global Continues Support for the All Stars Project - Chicago with an Additional $50,000 Donation in 2020
November 4, 2020Hilco Global (www.hilcoglobal.com), the world’s preeminent authority on asset valuation, monetization, and advisory services, announced today that it has donated an additional $50,000 to the All Stars Project in Chicago. The donation is part of an ongoing company program called Hilco Helps, Hilco Global’s philanthropic arm that supports its corporate and employee commitment to various causes, often focused on children and education. Over the years, Hilco Helps has actively worked with several Chicago-area organizations such as Youth Guidance, Cradles to Crayons, Chicago Public Schools, Chicago Public Library, Community Colleges of Chicago, and All Stars Project providing critical support to help those that need it most.
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SB360 Capital Partners to Assist Pet Valu, Inc. With Wind Down of All U.S.-Based Stores
November 4, 2020SB360 Capital Partners, a leading asset disposition specialist, has been engaged by Pet Valu, Inc., a specialty retailer of premium pet food, treats and supplies in the United States, to assist the company with the wind down of its U.S. based stores. Pet Valu, Inc. named SB360 as its exclusive consultant to operate “Store Closing” or “Total Inventory Blowout” sales in 358 stores located across 14 states. The sales begin today in all stores.
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InterNex Capital Provides $2MM Velocity LOC to Florida-Based Food Manufacturer
November 4, 2020InterNex Capital provided a $2 million velocity line of credit and a $550,000 stretch facility to a Florida-based food manufacturer that sells low carb, ready-to-eat foods through U.S. distributors and directly to consumers online.
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Capital Finance Industry Veterans Launch New Company: Honour Capital
November 4, 2020Brian Slipka, a Twin Cities-based entrepreneur and former senior vice president and head of TCF Technology Finance at TCF Capital Solutions/Winthrop Resources Corporation, a division of TCF Bank, along with Shea Huston, former regional vice president of the central and western U.S. for Winthrop, today announced the launch of a new capital finance company, Honour Capital.
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First-Lien Recoveries Strong for Health, Food, Consumer Cos.
November 4, 2020Bankrupt healthcare and food, beverage and consumer companies' relatively high reorganization multiples and stable cash flow profiles promoted mostly strong recoveries at the first-lien level, according to a new Fitch Ratings report.
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Pemberton Appoints Scott Hamilton as Managing Director, North America
November 4, 2020Pemberton, a leading European private credit asset manager, backed by UK insurer Legal & General Group PLC, today announced the latest step in its strategic expansion into the US and Canadian market with the appointment of Scott Hamilton, to the newly created role of Managing Director for North American Business Development. Scott will lead institutional client coverage and consultant relations for Pemberton’s European private debt strategies in the US and Canada.
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Imperial Capital Expands Leveraged Finance & Alternative Credit Business with New Hires in US Sales
November 4, 2020Imperial Capital, LLC (“Imperial Capital”), announced the continued expansion of its high yield & distressed credit sales team with the hiring of 3 sales professionals in the US: John Santonastaso, Colin Ives and Brent Herbst. These new sales professionals will report to Timothy Sullivan, President of Imperial Capital who has throughout 2020 steadily implemented the strategic expansion of Credit Sales & Trading with over 25 new hires globally. The hires will support a range of activities including par and distressed loan and bond trading along with alternative credit solutions in distressed and esoteric assets.
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Service Logic Announces Acquisition by Leonard Green & Partners from Warburg Pincus
November 3, 2020Service Logic, the largest independent provider of aftermarket maintenance, repair and replacement services for commercial HVAC equipment, today announced that it has been acquired by Leonard Green & Partners from Warburg Pincus. Harris Williams and Moelis served as financial advisors and Kirkland & Ellis LLP served as legal advisors to Service Logic. Latham & Watkins LLP served as legal advisors to Leonard Green & Partners. Committed debt financing for the transaction was provided by JPMorgan Chase Bank, N.A., Morgan Stanley, Antares Capital, and Crescent Capital.
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Acreage Announces Senior Secured Term Loan Facility
November 3, 2020Acreage Holdings, Inc. (“Acreage”) (CSE:ACRG.A.U, ACRG.B.U), (OTCQX: ACRHF, ACRDF) today announced it has received initial commitments and funding from a syndicate of lenders (the “Lenders”) for a first advance of $28 million pursuant to a Senior Secured Term Loan Facility (the “Facility”). The Facility has an annual interest rate of 15% with a maturity of 48 months from closing.
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TAB Bank Provides Diff Eyewear a $4 Million Revolving Credit Facility
November 3, 2020TAB Bank is pleased to announce it has entered into a multi-year agreement with Diff Eyewear to provide a $4 million revolving credit facility. The facility was used to refinance the company’s existing senior debt and provide for the company’s ongoing working capital needs as it continues to expand the reach of its growing brand.
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