- Tikehau Capital Upsizes Its Existing Revolving Credit Facility to €1.15bn With an Extended Maturity to 20301
- Salem Five Bank Extends $6 Million Credit Facility to Arocam Sports
- SouthStar Capital Funds $250,000 Accounts Receivable Facility for Growing Telecommunications Company
- Asset-Based Lending & Factoring Surveys
- nFusion Capital Provides $2 Million Factoring Facility for a Staffing Company
TSL Express Daily Articles & News
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MidCap Financial Provides a $270 Million Senior Secured Tranche A Revolving Credit Facility to Revlon Consumer Products Corporation
MidCap Financial today announced it has entered into a successor agent appointment and agency transfer agreement pursuant to which MidCap Financial replaced Citibank as the collateral agent and administrative agent for the Amended 2016 Revolving Credit Agreement of Revlon Consumer Products Corporation (“Revlon”), a leading global beauty company.
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Yieldstreet Private Business Credit - 3Q20 Update
October 13, 2020Yieldstreet Private Business Credit (“PBC”) (www.yieldstreet.com/private-business-credit-investment), a provider of single and multi-tranche direct term loans to growing businesses and participations with specialty finance companies, banks, credit funds and private equity-backed companies has closed a total of $42 million after recently announcing the launch of the new PBC vertical on June 23, 2020.
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Centric Brands Emerges from Chapter 11 with Strengthened Balance Sheet
October 12, 2020Centric Brands LLC (the “Company”), a leading lifestyle brands collective, announced today that it has completed its financial restructuring and emerged from voluntary Chapter 11 proceedings, implementing the Company’s Plan of Reorganization (the “Plan”) that was approved by the United States Bankruptcy Court for the Southern District of New York.
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CSG Investments, Inc. Announces $200M Term Loan for Kosmos Energy's Gulf of Mexico Business Unit
October 12, 2020CSG Investments, Inc., a global buy-and-hold institution headquartered in Dallas, Texas, announces a $200 million senior secured term loan maturing in five years for Kosmos Energy Ltd.'s Gulf of Mexico business unit on September 30, 2020, with funding provided by Beal Bank USA and Trafigura Trading LLC.
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HPD LendScape Partners With Emirates Development Bank to Launch New National Supply Chain Finance Platform
October 12, 2020HPD LendScape, a leading international secured lending platform vendor, today announces it has partnered with Emirates Development Bank (EDB) to launch UAE's National Supply Chain Finance (SCF) platform, giving UAE businesses improved access to working capital, particularly as they cope with the added pressures of the COVID-19 pandemic.
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Pacific Oak Capital Markets Group Expands Sales Team and Appoints Travis Hamlin as Regional Vice President, Four Corners Region
October 12, 2020Pacific Oak Capital Markets Group, an alternative investment distributor and wholly-owned subsidiary of Pacific Oak Capital Advisors ("Pacific Oak"), announced today that Travis Hamlin has joined the company as regional vice president for the "Four Corners" region. Pacific Oak Capital Markets Group works with registered investment advisors and broker-dealers throughout the country to distribute Pacific Oak's various real estate-related investment products.
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BrightPet Nutrition Receives Loan for Acquisition by Alvarez & Marsal
October 12, 2020BrightPet Nutrition Group LLC received a senior secured credit facility backing an acquisition of the company by Alvarez & Marsal Capital Partners. Varagon Capital Partners is administrative agent. Varagon and Morgan Stanley Private Credit are joint lead arrangers.
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Business Capital Arranges Expansion Financing for Three Horse Ranch Vineyards LLC
October 12, 2020Business Capital (BizCap™) secured USDA backed Construction Financing for 3 Horse Ranch Vineyards LLC (3HRV), a leading vertically integrated winery. The vast historic ranch is the largest family owned winery in Idaho, located in the Eagle Foothills AVA with acreage capable of producing 150 tons of grapes per year, yielding a wide array of red and white varietals from Cabernet Sauvignon to Sauvignon Blanc.
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FreightCar America, Inc. Completes Key Steps in Previously Announced Manufacturing Repositioning
October 12, 2020FreightCar America, Inc. (NASDAQ: RAIL) (“FreightCar America” or the “Company”) announced today that it has made significant progress in its manufacturing repositioning and business transformation strategy. Obtains new asset-backed credit facility to facilitate the business and repositioning process going forward.
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Huntington Bank Takes Top Spot Nationally For SBA 7(a) Loan Origination By Volume For Third Consecutive Year
October 12, 2020Huntington (Nasdaq: HBAN; www.huntington.com) is the nation's largest originator, by volume, of Small Business Administration (SBA) 7(a) loans for the third consecutive year at the close of SBA fiscal year 2020, further strengthening its position as the leader in supporting small businesses. This also marks the 12th year in a row Huntington has been the largest originator, by volume, of SBA 7(a) loans within its footprint.
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Southwestern Energy Announces Reaffirmation of Credit Facility and Approved Increase Upon Closing of Acquisition
October 12, 2020of Acquisition Southwestern Energy Company (NYSE: SWN) today announced its borrowing base was reaffirmed at $1.8 billion during its fall semi-annual redetermination. Additionally, upon the close of the Montage Resources acquisition, the Company’s borrowing base and bank commitments will increase to $2.0 billion, with asset coverage exceeding the Company’s borrowing base level.
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Solar Company in California Chooses TAB Bank for a $2.5 Million Revolving Credit Facility
October 12, 2020A solar company in California has chosen TAB Bank for a $2.5 million revolving credit facility. The new facility is extended through a multi-year agreement and will provide the means to fund growth for the company. The company designs and manufactures proprietary systems to mount solar panels and accessories to residential sloped roofs. They sell through solar distributors, regional contractors, and select national contractors.
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Golden Star Completes Amendments and Upsizing of Senior Secured Credit Facility
October 12, 2020Golden Star Resources Ltd. (NYSE American: GSS) (TSX: GSC) (GSE: GSR) ("Golden Star" or the "Company") is pleased to announce the amending and upsizing of the senior secured credit facility ("the Credit Facility" or "the Facility") with Macquarie Bank Limited entered into by the Company on October 17, 2019. All monetary amounts refer to United States dollars.
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Oxford Finance Provides $55 Million Credit Facility to SpendMend
October 12, 2020Oxford 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 $55 million senior credit facility and revolving line of credit to SpendMend (or "the Company"), a portfolio company of Sheridan Capital Partners.
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Chapter 11 Court Approves DIP Financing Facility
October 12, 2020Grupo Aeroméxico, S.A.B. de C.V. ("Aeromexico" or the "Company") (BMV: AEROMEX) announces that following our previous relevant events dated August 13th, August 19th and September 9th 2020, regarding (a) securing the commitment for US$1,000 million senior secured superpriority multi-tranche debtor in possession term loan facility (the "DIP Facility"), (b) interim approval of the DIP Facility by Judge Shelley C. Chapman of the United States Bankruptcy Court for the Southern District of New York (the "Chapter 11 Court"), and (c) the funding of US$100 million of tranche 1 loans under the DIP Facility, today, Judge Chapman approved the DIP Facility on a final basis, which was a condition precedent to the availability of the undrawn portion of the tranche 1 loans (US$100 million), as well as the tranche 2 loans
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EyePoint Pharmaceuticals Announces Amendment to CRG Debt Facility Modifying 2020 and 2021 Revenue Covenants
October 12, 2020EyePoint Pharmaceuticals, Inc. (NASDAQ: EYPT), a pharmaceutical company committed to developing and commercializing innovative ophthalmic products, today announced an amendment to its existing debt facility with CRG Servicing LLC (CRG). Under the terms of the amendment, CRG has waived the covenant associated with the Company’s net product revenue of DEXYCU® and YUTIQ® for the twelve-month period ending on December 31, 2020. The parties also agreed to a reduction of the December 31, 2021 net product revenue covenant to $45 million from $80 million based on the promising recovery and return in customer demand for both products following COVID-19-related closures. There were no other material changes made to the term loan agreement with CRG.
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HR Veteran Joins CapitalPlus Team
October 12, 2020CapitalPlus Construction Services, a leading provider of accounts receivable financing for the construction industry, recently announced the addition of Clare J. Deegan as Director of Human Resources and Business Office Manager. In her new role she will oversee benefits administration, A/P and A/R functions as well as all personnel management responsibilities, from recruiting and onboarding to team building and exit interviews.
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North American Construction Group Ltd. Announces $325M Upsized & Extended Credit Facility
October 12, 2020The amendment process commenced in September 2020, led by National Bank of Canada, with the primary objective of extending favourable existing terms and conditions. This agreement took on an increased importance this year as the Company looks to mitigate risks related to the COVID-19 pandemic. With this agreement in place, liquidity is expected to remain well above $100 million for the duration of the agreement.
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Santander Bank Announces Key Executive Appointments
October 12, 2020Santander Bank, N.A. (“Santander Bank” or “the Bank”) announced today the appointment of three key executives: Patrick Smith has been named Head of Small Business Banking, Giancarlo Marchesi has been named Head of Consumer Lending, and Jennifer Mathissen has been named Chief Marketing Officer. They will report to Head of Consumer and Business Banking Pierre Habis. The appointments are another important step in Santander Bank’s growth and transformation strategy.
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CVC Credit Partners Prices Second CLO in a Month
October 12, 2020CVC Credit Partners ("CVC Credit") is pleased to announce that it has priced Apidos XXXIV, a Collateralized Loan Obligation ("CLO") fund totalling $402.5 million. This is the second CLO fund CVC Credit has priced in the last month, following the pricing of Cordatus XVIII in late September. Together these funds total c.$850 million of new issuance and will increase CVC Credit's global CLO funds raised in 2020 c.$1.6 billion. Pro forma for both funds CVC Credit's global CLO assets under management now stand at approximately $17 billion. Arranged by Deutsche Bank, Apidos XXXIV is CVC Credit's second new-issue CLO to price in the U.S. in 2020 and will increase U.S. CLO AUM to approximately $10 billion.
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Paycheck Protection Program (PPP) Policy Update – Wednesday, October 7, 2020
October 9, 2020
The Secured Lender
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