- RadNet Announces a Proposed $200 Million Incremental Term Loan to Fund Strategic Growth Opportunities
- PlainsCapital Bank Welcomes Joey Myers as Senior Vice President, Senior Relationship Manager
- Gibraltar Business Capital Closes $12.5M Revolving Credit Facility with Sharebite
- White Oak Commercial Finance and Hilco Global Provide $192MM Senior Secured Credit Facility for Royal Cup Coffee and Tea
- GA Group Launches Dedicated Transaction Opinions Practice with Elite Leadership Team
TSL Express Daily Articles & News
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Gordon Brothers Provides Moda Operandi with $13M Term Loan to Support Company Sale
Gordon Brothers, the global advisory, restructuring and investment firm, has partnered with the investment banking firm Consensus to provide a $13 million term loan to Moda Operandi to support the sale of its business.
“The Gordon Brothers team was remarkable to work with,” said Stephanie Roberts, Interim Chief Financial Officer at Moda Operandi. “This was one of the best executed financings I’ve been through as they kept the process simple, straightforward and executed exactly what they said they would from the beginning.”
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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
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IBC Advanced Alloys Secures Extension of Line of Credit and Term Loan Facility with BMO Harris Bank
October 8, 2020IBC Advanced Alloys Corp. (“IBC” or the “Company”) (TSX-V: IB; OTCQB: IAALF) announces that it has secured renewals of its existing line of credit and its term loan facility with BMO Harris Bank (”BMO”). The renewals extend the line of credit and term loan facility until September 30, 2021. Approximately $3.5 million is available to the Company under the line of credit.
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Gateway Trade Funding Closed a Purchase Order Facility for a Beauty Company
October 8, 2020Gateway Trade Funding, a PO and trade financing company, is happy to announce that we recently funded a purchase order facility that gave a beauty company the financing they needed to accept and fill a large order. True + Luscious, a clean beauty company, received a large order but lacked the cashflow to accept it. The growing company turned to Gateway Trade Funding to help fill this order with the help of their purchase order financing.
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Hilco Global Engaged by Shop-Vac to Assist in Closing Global Operations
October 8, 2020Hilco Global, the world’s premier authority on asset valuation, monetization, and advisory services, announced that they have been retained to assist in the liquidation of U.S. and international operations for Shop-Vac. Shop-Vac was established in 1953 and is headquartered in Williamsport, Pennsylvania. The company pioneered the concept of the wet/dry vacuum cleaner and was the leading manufacturer of wet/dry vacuums and accessories when it ceased operating in September 2020.
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SC&H Capital Advises A.C. Furniture Company, Inc. in its Sale to Multiple Buyers
October 8, 2020SC&H Capital, a leading investment bank specializing in M&A advisory, announced it acted as the exclusive investment banker to A.C. Furniture Company, Inc. (“A.C. Furniture” or “the Company”) in the sale of its equipment, inventory, and some of its real estate assets to Linon Home Décor Products, Inc. (“Linon”), a New York Corporation. Other real estate parcels were sold to Blue Empire, LLC, and Holland Industrial Group.
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24 Hour Fitness Announces Restructuring Support Agreement to Position Company for Long-Term Success
October 8, 202024 Hour Fitness (the “Company”), an industry-leading fitness brand for over 35 years, today announced that it has entered into a restructuring support agreement (the “RSA”) with lenders beneficially holding approximately 73% of the Company’s secured debt and approximately 65% of the Company’s senior unsecured notes on the terms of a comprehensive restructuring plan (the “Plan”). The RSA sets forth terms for a financial restructuring that will reduce approximately $1.2 billion dollars of funded debt, provide increased financial flexibility to help navigate through the Coronavirus (COVID-19) pandemic, and better position 24 Hour Fitness for long-term success.
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CIT Chairwoman and CEO Ellen R. Alemany Receives Leadership Legacy Award
October 8, 2020Honored by the Center for Executive Succession at the Darla Moore School of Business for a legacy of fostering talent and delivering performance.
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First Business Growth Funding Finances Multiple COVID-19 Vaccine Trials
October 8, 2020First Business Growth Funding, a division of First Business Capital Corp., announced today that it is financing multiple COVID-19 vaccine trials at various sites throughout the United States. The COVID-19 vaccine trials are in Stages II and III and involve thousands of subjects.
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Crestmark Provides More Than $109 Million in Commercial Financing to 109 Businesses in the Second Half of September
October 7, 2020Crestmark secured a total of $15,847,400 in ABL financial solutions for ten new clients; Crestmark Equipment Finance provided $20,343,127 in five new lease transactions; Crestmark Vendor Finance provided $6,111,586 in 79 new transactions; the Government Guaranteed Lending
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Hilco Redevelopment Partners Announces Sponsorship of HACIA U’s Pre-Apprenticeship Program for Little Village Residents
October 7, 2020The sponsorship will provide up to 24 Little Village and Chicago Residents the opportunity to attend the full pre-apprenticeship program tuition free to prepare for a valuable career in the trades.
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Canadian Solar, KEPCO and Sprott Close US$93 Million Non-Recourse Financing with SMBC for the Tastiota Project in Mexico
October 7, 2020Canadian Solar Inc. (the "Company", or "Canadian Solar") (NASDAQ: CSIQ), announced today the financial close of its 126 MWp Tastiota project in the state of Sonora, Mexico. The non-recourse financing package, arranged by Canadian Solar, was provided by Sumitomo Mitsui Banking Corporation ("SMBC"). SMBC acted as Sole Structuring Bank and Mandated Lead Arranger in the transaction.
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