- Gateway Completes a Record 39 Stretch Deals in 45 Days Totaling $15 Million
- JLL Income Property Trust Closes New $1 Billion Credit Facility
- Regions Bank Names Jay Darnell as Head of Commercial Card and Fintech Enablement
- Cascadia Capital Adds Michael Kahn to its Equity Capital Solutions Team
- Varex Announces Successful Completion of Debt Refinancing
TSL Express Daily Articles & News
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Second Avenue Capital Partners, LLC Provides $30 Million Senior Secured Term Loan to UNTUCKit
Second Avenue Capital Partners, LLC (“SACP”) (www.secondavecp.com) announced it has closed on a $30,000,000 senior secured term loan to UNTUCKit, one of the fastest-growing retail apparel brands in North America. The term loan will be used to restructure existing debt and provide the Company with the financial latitude to continue their pre-pandemic growth trajectory.
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SG Credit Partners Provides $2.5 Million to Fraud Protection Network
September 23, 2020Southeast-based consumer credit and identity solutions software-as-a-service provider, majority owned by founder & CEO Ed Margolin. Visit Fraud Protection Network's website to learn more.
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Tradewind Finance Celebrates 20th Anniversary
September 23, 2020This year marks the 20th anniversary of Tradewind Finance, whose financial services have supported small and medium-sized businesses globally for two decades. It has been an honor for the company to work with their clients across industries as their trusted financial partner. In addition to a solid foundation of years in operation, the milestone signifies the company’s growth – in offices, business relationships, and capabilities.
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Timbercreek Financial Exercises Accordion Feature of its Revolving Credit Facility and Announces Redemption of 5.40% Convertible Unsecured Debentures
September 22, 2020Timbercreek Financial Corp. (TSX: TF) (“Timbercreek Financial” or the “Company”) is pleased to announce that it has entered into an amendment to its existing revolving credit facility (“Credit Facility”) in order to, among other things, exercise a portion of the accordion feature of the Credit Facility. The exercise of the accordion feature has increased the total revolving commitment of the lenders under the Credit Facility by $35,000,000, bringing the aggregate limit under the Credit Facility to $535,000,000. General terms of the Credit Facility remain unchanged.
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CIT Provides $20 Million Credit Facility for Protech Home Medical
September 22, 2020CIT Group Inc. (NYSE: CIT) today announced that its Healthcare Finance group, part of the company's Commercial Finance division, provided a $20 million senior secured credit facility for Protech Home Medical Corp. (TSXV: PTQ) (OTCQX: PTQQF), a leader in the home medical equipment industry focused on end-to-end respiratory care. Based in Cincinnati, Ohio, Protech Home Medical provides clients with a broad range of in-home monitoring and disease management services, including end-to-end respiratory solutions for patients in the United States healthcare market.
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Katten's Busy Bankruptcy Practice Continues to Draw Top Talent
September 22, 2020Katten announced today that the firm has added a new partner, Michaela Crocker, to its Insolvency and Restructuring practice in Dallas. She is the tenth attorney to join the practice this year and the third this month. Crocker, who helps clients navigate some of the most complex Chapter 11 cases, also is the latest partner addition to Katten's Dallas office, which opened in 2018 with seven partners and has since expanded to more than 40 attorneys.
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TAB Bank Provides Trucking Company in Florida with a $2.5 Million Revolving Credit Facility
September 22, 2020TAB Bank is pleased to announce it has provided a $2.5 million asset-based revolving credit facility for manufacturing trucking based in Florida. The new facility is extended through a multi-year agreement and will provide for the ongoing working capital needs for the company.
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Alvarez & Marsal Taxand Bolsters M&A Tax Capabilities for Energy Industry
September 22, 2020Alvarez & Marsal Taxand, LLC (A&M Taxand), an affiliate of leading global professional services firm Alvarez & Marsal (A&M), strengthened its energy-focused mergers and acquisitions (M&A) tax advisory services with the appointment of Houston-based Kyle Seipert as a Managing Director. This appointment further enhances A&M’s robust offerings to the oil and gas industry and reflects the firm’s commitment to help energy company clients navigate challenges and maximize value as the industry undergoes major transformation.
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Hedaya Capital Group Completes a $1,000,000 Factoring Facility for an Outdoor Apparel Company
September 22, 2020The Hedaya Capital Group, Inc. is pleased to announce a $1,000,000 factoring facility for a family-owned outdoor apparel company. Inspired by nature's playground, the company introduces innovative clothing and gear to outdoorsmen and hunters. We acquired them from another factor, we were able to provide a more flexible financing solution to meet their needs.
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Ascena retail group Achieves Important Milestones in Restructuring Process
September 21, 2020Court Approves Disclosure Statement and Debtor-in-Possession Financing on Final Basis; Debtor-in-Possession Financing to Convert to Exit Financing Upon Emergence Company to Begin Solicitation of Votes for Plan of Reorganization; Amended RSA Supported by Approximately 95% of Secured Term Lenders FullBeauty Wins Auction to Acquire Catherines’ E-Commerce Business for Over $40 Million Well-Positioned to Execute Customer-Centric Retail and E-Commerce Business Model ascena retail group, inc. (OTCMKTS: ASNAQ) and certain of its subsidiaries (collectively, “ascena” or the “Company”) today announced recent milestones achieved in the Company’s Court-supervised restructuring process.
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River City Bank Continues its North Bay Expansion With Former Heritage Bank of Commerce SVP Seth Shorett
September 21, 2020Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC) and Peapack-Gladstone Bank are proud to announce the appointment of Elisa DePalma, Senior Vice President, Head of Commercial Closing, Credit Risk Management. Working out of the Bank’s Teaneck location, Elisa oversees management of the Commercial Closing Department. Ms. DePalma is a demonstrated leader and team player and will reinforce and expand positive working relationships across the Bank.
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Peapack-Gladstone Bank Hires New Senior Vice President
September 21, 2020Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC) and Peapack-Gladstone Bank are proud to announce the appointment of Elisa DePalma, Senior Vice President, Head of Commercial Closing, Credit Risk Management. Working out of the Bank’s Teaneck location, Elisa oversees management of the Commercial Closing Department. Ms. DePalma is a demonstrated leader and team player and will reinforce and expand positive working relationships across the Bank.
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Tiger Finance Provides Nu-Steel Trade With $10 Mil. in Growth Capital
September 21, 2020Tiger Finance, a wholly owned affiliate of Tiger Capital Group, today announced that it has closed on a $10 million delay draw term loan to Nu-Steel Trade that provides working capital for growth and acquisition opportunities.
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Stonebriar Commercial Finance Welcomes Dylan Glenn to its Board
September 21, 2020Stonebriar Commercial Finance (“Stonebriar”) is pleased to announce that Dylan Glenn has joined its Board of Managers as an independent board member. Dylan currently serves as a director of Intellicheck, Inc. (IDN), a leading provider of authentication services for companies primarily in area of financial services, and a Russell 3000 company listed on NASDAQ.
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Republic Provides a $1.5 Million Traditional Factoring Facility for a Los Angeles-based Apparel Importer
September 21, 2020When a Los Angeles apparel manufacturing and import company sought funding for their 2020 Fall and Winter orders, they chose Republic Business Credit to fuel their growth. Republic approved a scalable traditional facility to support their expected growth in anticipation of the orders they have received for additional reopening of retail stores. Republic fully approved the customer limits necessary to enable the company to fulfill large purchase orders in the midst of Covid-19.
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Denbury Successfully Completes Financial Restructuring
September 21, 2020Denbury Inc. (NYSE: DEN) ("Denbury" or the "Company") today announced that it has successfully completed its financial restructuring and emerged from Chapter 11. Denbury's common stock is expected to commence trading on the New York Stock Exchange under the ticker symbol DEN at market open Monday, September 21, 2020. Kirkland & Ellis LLP is acting as legal counsel to Denbury, Evercore Inc. is acting as financial advisor and Alvarez & Marsal is serving as restructuring advisor.
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Stellus Capital Investment Corporation Amends and Extends Its Revolving Credit Facility
September 21, 2020Stellus Capital Investment Corporation (the "Company") (NYSE: SCM) announced today that on September 18, 2020 it entered into an amendment and extension of its $230 million Senior Secured Revolving Credit Agreement (the "Facility"). The Company extended the commitment termination date of the Facility to September 18, 2024 with a final maturity of September 18, 2025, and amended certain covenants and conditions of the Facility, including a reduction in the required asset coverage. The Facility was led by Zions Bancorporation, N.A. dba Amegy Bank, and includes a total of 10 bank participants. Pricing and advance rates remain unchanged on the Facility, except for the addition of a LIBOR floor of 0.25%.
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Tallinn Energy Provides $2.2 Million Senior Credit Facility to Calgary-based Junior Energy Company
September 21, 2020Tallinn Capital Energy Corp. (“Tallinn”) is pleased to announce that it has provided a $2.2MM senior term loan to 2273271 Alberta Ltd. (“227AB”) for acquisition financing. 227AB is a junior oil and natural gas producer with operated facilities and assets in the greater Pembina area of west central Alberta.
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Iron Horse Credit Provides $1MM Stand-Alone Inventory Facility to an E-Commerce Retailer and Wholesaler of Sports Eyewear and Accessory Products
September 21, 2020Iron Horse Credit is excited to partner with a well-known brand in the sports accessories industry selling in the U.S. and Canada. Due to the current market conditions and their impact in the retail space, the company shifted its focus to its e-commerce business. The incumbent asset-based lender reduced the line of credit as the company’s inventory exposure exceeded its accounts receivable balance. Through a referral, Iron Horse Credit partnered with a trusted accounts receivable lender to provide the company with the working capital solution it needed without any AR-to-inventory restrictions.
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PopReach Signs Binding Agreement for US$7.5 Million Debt Refinancing Facility With a Leading Canadian Schedule I Bank
September 21, 2020PopReach Corporation ("PopReach" or the "Company"), a free-to-play mobile game publisher focused on acquiring and optimizing proven game franchises, today announced that its wholly-owned subsidiary, PopReach Incorporated, has signed a binding agreement for a US$7.5 million senior secured credit facility (the "New Facility") with a leading Canadian Schedule I Bank (the "Lender"). The New Facility, secured through the Lender's Technology and Innovation Banking group, is intended to refinance PopReach's previous credit facility, of which US$6.6 million is currently outstanding, and also provides PopReach with a US$1.0 million revolving term credit facility.
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Rosenthal Closes $2M Production Finance Deal w/Toy Company
September 21, 2020Rosenthal & Rosenthal, Inc., the leading independent factoring, asset-based lending and purchase order financing firm in the United States, today announced the completion of a recent $2 million purchase order finance facility for a California-based toy company. A former client of Rosenthal’s had secured a bank line a few years ago when it no longer required purchase order financing to support its production financing requirements. However, COVID-19 challenges coupled with a restructuring of their business, gave way to bank-imposed covenants and restrictions that threatened to impede their holiday and 2021 sales. Concerned that these restrictions would make it difficult to achieve sales targets for Q4 and into next year, the company returned to Rosenthal.
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