- Armory Securities, LLC Announces the Successful Closing of a Credit Facility for Copper Cane Wines & Provisions
- nFusion Capital Provides $2 Million Factoring Facility for a Staffing Company
- Siena Lending Group Provides $60 Million in Working Capital Facilities to Taskmaster Components
- Westwood Financial Expands Corporate Credit Facility By $145 Million To $470 Million Total
- CIBC US ABL Team Supports NW Automotive Group with New Senior Credit Facility
TSL Express Daily Articles & News
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SFNet Presents "The Data You Need to Plan Ahead" Webinar
SFNet will host a webinar this Friday, May 14, from 12:00 p.m. – 1:00 p.m., titled "The Data You Need to Plan Ahead." This webinar is open to employees of SFNet member organizations and SFNet Chapter members only and will provide analysis behind the numbers for the Secured Finance Foundation (SFFound) Market Pulse Report, the Foundation’s Annual ABL and Factoring Surveys as well as Refinitiv’s Capital Markets League Table for Q1.
Panelists will include Barry Bobrow, managing director, Wells Fargo Securities; Miin Chen, COO, Siena Lending Group; Lawrence Chua, managing director, Ares Management LLC; Maria Dikeos, global head of Loans Contributions, Refinitiv; Terry Keating, president of Accord Financial’s US Asset Based Finance unit and Robert Wescott, president, Keybridge Research.
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TSL Express Daily Headlines & News
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PRA Group Announces Extension and Amendment of North American Credit Facility
September 2, 2020PRA Group, Inc. (Nasdaq: PRAA), a global leader in acquiring and collecting nonperforming loans, announced today that it extended and amended its North American credit facility on August 26, 2020.
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U.S. Xpress Enterprises Inc. Announces Virtual Conference Participation
September 2, 2020U.S. Xpress Enterprises, Inc. (NYSE: USX) the nation’s fifth largest asset-based truckload carrier by revenue, today announced that Eric Fuller, President and Chief Executive Officer, and Eric Peterson, Chief Financial Officer, are scheduled to virtually participate at the following conferences:
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KB US Holdings, Inc. Announces Acceptance of Stalking Horse Bid to Close Sale in Next 60 Days
September 2, 2020KB US Holdings, Inc. ("KB or the Company"), parent company of the Kings Food Markets and Balducci's Food Lover's Market subsidiary banners, today announced it has accepted a stalking horse bid from TLI Bedrock to purchase the Company for $75 million.
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Cardinal Energy Ltd. Announces Extension of Revolving Credit Facility
September 1, 2020Cardinal Energy Ltd. ("Cardinal") (TSX: CJ) has received approval to extend the revolving period applicable to the Company’s existing reserves-based credit facility to September 30, 2020.
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Lana Fidelscaia Joins First Business Growth Funding as Vice President - Business Development Officer
September 1, 2020First Business Growth Funding, the Accounts Receivable Financing arm of First Business Financial Services, Inc., announces that Lana Fidelscaia was hired as Vice President - Business Development Officer.
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Monroe Capital Supports CORE Industrial Partners’ Fathom
September 1, 2020Monroe Capital LLC (“Monroe”) today announced an increase in the credit facility to FATHOM to support the acquisition of GPI Prototype & Manufacturing Services (GPI). FATHOM is an existing portfolio company of CORE Industrial Partners.
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Celtic Capital Corporation has expanded its client development staff
September 1, 2020Celtic Capital Corporation has expanded its client development staff with the addition of Bryan Hatfield and Jonathan Bloom; both Senior Vice Presidents.
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J.C. Penney lenders could take over company as sale talks sputter
September 1, 2020As sale negotiations stall, attorneys for J.C. Penney said at a hearing Monday that key lenders were "dedicated" to supporting the retailer as an operating entity by converting their debt holdings into equity in a reorganized Penney.
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Women’s Retailer J. Jill Has 10 Days to Avoid Bankruptcy Filing
September 1, 2020J. Jill Inc. has just 10 days to get permission from the vast majority of its lenders for a deal that would extend the struggling retailer’s debt maturities, excuse it from financial covenants and give it fresh cash.
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CIT Serves as Joint Lead Arranger on $150 Million Credit Facility for Steven Madden Ltd.
September 1, 2020CIT Group Inc. (NYSE: CIT) today announced that its Asset-Based Lending business, part of the Commercial Finance division, served as joint lead arranger on a $150 million asset-based revolving credit facility for Steven Madden Ltd.
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Latham & Watkins Advises Xenia Hotels & Resorts in US$1.375 Billion Bank and Bond Transactions
September 1, 2020Latham & Watkins represented Xenia Hotels & Resorts, Inc. in the debut private offering of US$300 million of 6.375% senior secured notes due 2025 by XHR LP, Xenia’s operating subsidiary. Xenia, a REIT that invests primarily in uniquely positioned luxury and upper upscale hotels and resorts, owns 39 hotels across 16 US states.
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Leonovus Inc. Announces a $445,000 Bridge Loan
September 1, 2020Leonovus Inc., (“Leonovus” or the “Company”) (TSXV: LTV) announces that it plans to enter into a loan agreement with eleven shareholders, including two directors, (the “Lenders”) for a secured loan in the principal amount of up to CAD$445,000 (the “Loan”).
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SBALenders.com completes study of Covid impact on SBA lender activity during Q2
August 31, 2020To ascertain the impact that Covid has had on lending to small businesses in America, SBAlenders.com conducted a study of SBA loan activity by analyzing data provided by the Small Business Administration (SBA). SBA loans, which are designed to be attractive for borrowers who cannot easily obtain a traditional commercial loan, have plummeted in the second quarter of 2020.
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RadNet Expands its Revolving Credit Facility to $195 million
August 31, 2020RadNet, Inc. (NASDAQ: RDNT), a national leader in providing high-quality, cost-effective, fixed-site outpatient diagnostic imaging services through a network of 332 owned and/or operated outpatient imaging centers, today announced the amendment of its senior secured first lien credit agreement to increase the amount of the revolving commitments thereunder by $57.5 million.
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Heritage Global Inc. Announces New Head of Heritage Global Valuations
August 31, 2020Heritage Global Inc. (NASDAQ: HGBL) (“Heritage Global,” “HGI” or “the Company”), an asset services company specializing in financial and capital assets, today announced that Michael Goldstein has been promoted to Executive Managing Director, Head of Heritage Global Valuations (“HGV”), a division of Heritage Global Partners and a leading asset liquidation and appraisal firm.
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King Trade Capital Provides $6 Million PO Finance Facility for Personal Hygiene Company
August 31, 2020King Trade Capital is pleased to provide financing to a California-based company that sells hand sanitizer and sanitizing wipes.
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Celtic Capital Corporation Announces New Client Relationship
August 31, 2020Celtic Capital Corporation today announced its most recent new client relationship – a California-based distributor and fabricator of sheet metal products and industrial supplies.
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Weatherford Completes Financing Transactions
August 31, 2020Weatherford International (collectively with certain of its subsidiaries, "Weatherford" or the "Company") today announced that it has refinanced its senior secured asset-based lending agreement (the "ABL Credit Agreement") through the issuance of $500 million of senior secured first lien notes.
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Stonebriar Commercial Finance Promotes Smith, And Adds Carter
August 31, 2020Stonebriar Commercial Finance is pleased to announce the promotion of Harrison P. Smith to Vice President, Credit Manager.
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Le Tote and Lord & Taylor Announce the Commencement of Going out of Business Sales at all of Their Iconic Stores
August 28, 2020Le Tote, Inc. and Lord & Taylor LLC (together with their respective subsidiaries, the “Company”), will commence Going Out of Busines Sales shortly at the historic brands’ 38 iconic stores and on www.lordandtaylor.com. Kirkland & Ellis LLP is acting as legal advisor to the Company and Berkeley Research Group, LLC is acting as restructuring advisor. Nfluence Partners is acting as the Company’s investment banker and a joint venture of Hilco Merchant Resources and Gordon Brothers are managing the Company’s store closing sales.
The Secured Lender
SFNet's The 81st Annual Convention Issue
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