- Eversheds Sutherland Welcomes Phyllis Young as Finance Partner in Texas, Strengthening Finance Practice Group’s Transactional and Restructuring Capabilities
- Deirdre Cronin Joins CohnReznick as Sales and Purchase Agreement Managing Director
- Dwight Funding Announces Select Credit Facilities for Growth-Stage Consumer Brands-$10M
- Culain Capital Provides $1MM AR Factoring Facility to California Staffing Company
- Gateway Completes a Record 39 Stretch Deals in 45 Days Totaling $15 Million
TSL Express Daily Articles & News
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Winston & Strawn Expands Leveraged Finance Team with Addition of Rachel Gray in New York
Winston & Strawn LLP is pleased to announce the addition of Rachel Gray as a partner in the firm's New York office and a member of the Leveraged Finance team where she will play a key role in the expansion of the firm's lender designation practice in both the mid and large cap markets.
Rachel is an experienced attorney with insight into both the borrower and lender sides of complex leveraged finance transactions. Rachel represents top-tier private equity sponsors and their portfolio companies in connection with a wide range of transactions, including leveraged buyouts, take-private deals, dividend recapitalizations, out-of-court restructurings and refinancings.
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TSL Express Daily Headlines & News
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Sallyport Commercial Finance Structures a Credit Facility
September 8, 2020Sallyport Commercial Finance helps a passionate entrepreneur and hobby enthusiast in the trading card business find a solution to meet the growing demand and fill upcoming orders. The credit facility will enable the business to continue to service their existing customers and help grow market share.
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Tiger Group Online Auction Features Equipment for Screen Printing and Premium Promotional Manufacturing
September 8, 2020Online bidding opens on Sept. 15 for Aprinta Group surplus assets; auction includes everything from textile, extrusion and sewing equipment, to inventories of blank pens and flashlights. Tiger Group will begin accepting bids on September 15 for an online auction of hundreds of pieces of equipment used for screen printing and manufacturing apparel and premium promotional products. Online bidding at SoldTiger.com will commence on Tues., Sept. 15, at 10:30 a.m. (EDT) and will close on Tues., Sept. 22, at 10:30 a.m. All bidders are required to register prior to the sale at SoldTiger.com.
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Corporate Finance Expert Joins Avison Young in Washington, D.C.
September 8, 2020John Kevill, Avison Young Principal and President of U.S. Capital Markets, today announced the appointment of Tim Hall as Avison Young Principal. Hall is based in Washington, D.C., and brings his corporate finance expertise to the firm's Capital Markets team, focusing on working with private equity firms, public/private corporations and institutional real estate owners.
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CIT Named Top Lead Arranger for Renewable Energy Financing
September 8, 2020CIT Group Inc. (NYSE: CIT) today announced that its Power and Energy business was named Renewable Energy Lead Arranger of the Year by Power Finance & Risk, a top publication covering the energy project finance industry. CIT’s Power and Energy business was selected by the Power Finance & Risk editorial team based on its independent research and industry insights. The award is granted for excellence and innovation while serving as lead arranger in financing renewable energy projects for a variety of clients, the magazine said.
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Crestmark Provides More Than $45.8 Million in Commercial Financing to 152 Businesses in the Second Half of August
September 8, 2020Crestmark secured a total of $16,993,300 in ABL financial solutions for ten new clients; Crestmark Equipment Finance provided $11,387,492 in six new lease transactions; Crestmark Vendor Finance provided $10,647,040 in 132 new lease transactions; and the Government Guaranteed Lending group provided $6,869,300 in financing for four new clients in the second half of August.
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Asset-based Borrowers Mostly Shut out of Fed's Main Street Program
September 8, 2020The Federal Reserve's Main Street Lending Program is shutting out a significant chunk of U.S. mid-sized companies, excluding some whose pre-coronavirus business models make them appear too indebted. The program's restrictions have largely excluded companies that rely on asset-based borrowing, a financing method prominent in real estate but also used in a variety of other industries, including retail and manufacturing.
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Vena Solutions Inc. Accelerates Growth with US$25 Million Financing from CIBC Innovation Banking
September 8, 2020CIBC Innovation Banking is pleased to announce a growth capital financing for Toronto-based Vena Solutions Inc. (“Vena”), a provider of cloud-based financial planning and analysis software. The funding enables Vena to accelerate growth by further expanding product content and market reach.
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BCT-The Community's Bank Continues Strategic Appointments, Welcomes Terry Elliott as Senior Vice President
September 8, 2020BCT-Bank of Charles Town, also known as The Community's Bank, announced the appointment of Terry L. Elliott to the position of Senior Vice President, Commercial Lender, serving Loudoun County, Prince William County, and Northern Virginia. Ms. Elliott brings a record of success to BCT. Most notably, she was recognized as Financial Services Champion of the Year by the United States Small Business Administration for the Richmond District.
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Main Street Announces New Portfolio Investment Invests $26.0 Million in Superior Rigging & Erecting Co.
September 8, 2020Main Street partnered with the Company's management team to facilitate the transaction, with Main Street funding $26.0 million in a combination of first-lien, senior secured term debt and a direct equity investment. In addition, Main Street is providing Superior with access to additional term debt to facilitate its future growth needs.
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Gerber Finance Announces the Hiring of Three New Full-time Employees
September 8, 2020Graham Nelson joins the California office as a Collateral Analyst with previous experience in the banking, payments, and healthcare industries. Hailey Williams is a recent graduate from Drew University with a Bachelor of Arts degree in Business. Kelly South came on board as a Marketing intern in January and after assisting with the Gerber Finance Foundation, social media efforts, and marketing campaigns she has officially been hired as Marketing & Communications Coordinator.
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Unit Corporation Successfully Completes Financial Restructuring, Emerges from Chapter 11 and Appoints New Board of Directors
September 8, 2020Vinson & Elkins L.L.P. served as legal advisor, Evercore Group L.L.C. served as investment banker, and Opportune LLP served as restructuring advisor to the Company. Weil, Gotshal & Manges LLP served as legal advisor and Greenhill & Co., LLC served as financial advisor to an ad hoc group of holders of Subordinated Notes.
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King Trade Capital Provides $5 Million PO Finance Solution for a Texas-based Distributor
September 8, 2020King Trade Capital is pleased to announce the financing of a PO finance facility of $5 million to help a Texas-based distributor purchase and sell hand sanitizing wipes to 7-11, Walgreens and other national retailers.
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Business Executives See Improved Prospects for Their Own Companies but Report Little Confidence in U.S. Economy Overall, AICPA Survey Finds
September 8, 2020Hiring plans are expected to be flat over the next 12 months; Only 24 percent of executives say they are optimistic about the U.S. economy and profit and revenue expectations stabilize from last quarter’s steep drop.
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Purple Innovation, Inc. Announces New Five-Year, $100 Million Senior Secured Credit Facility
September 8, 2020Purple Innovation, Inc. (NASDAQ: PRPL) ("Purple"), a comfort innovation company known for creating the "World's First No Pressure™ Mattress," today announced that it has executed a new five-year $100 million senior secured credit facility with a group of financial institutions led by KeyBanc Capital Markets. KeyBanc Capital Markets acted as the joint lead arranger and will be the administrative agent for the financing. Funding will be provided through a syndicate of banks including Keybank, Bank of Montreal, Fifth Third Bank, Silicon Valley Bank, Truist, Wells Fargo, Raymond James, and Arvest Bank.
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Houlihan Lokey Hires Industry Veteran to Lead New Practice in Healthcare
September 8, 2020Houlihan Lokey, Inc. (NYSE:HLI), the global investment bank, today announced that Keith Barry has joined the firm as a Managing Director and Head of Medical Technology, a new practice within the Healthcare Group. He is based in San Francisco. Also joining the Healthcare Group as a Vice President in San Francisco is Allan Burton, who will cover medical technology.
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Fifth Third Business Capital Arranges New Senior Credit Facility for Acquisition of Donnelly Custom Manufacturing
September 3, 2020Fifth Third’s credit facility was used to facilitate the acquisition of Donnelly Custom Manufacturing by Akoya Capital Partners, LLC and will assist the company with capital expansion, growth, and working capital funding.
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Bridge Bank Extends $2MM Credit Facility to Miva, Inc
September 3, 2020Bridge Bank today announced it has extended a credit facility to Miva, Inc., a San Diego-based e-commerce software and service provider for mid-size and enterprise merchants, offering flexible, agile solutions that drive online sales.
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Sterling National Bank Provides $3,000,000 of Secured Credit Facilities to Right Sized Solutions, Inc.
September 3, 2020Sterling National Bank's Commercial Services Group provided senior secured credit facilities totaling $3,000,000 to Right Sized Solutions, Inc. (“RSSi” or the “Company”). The credit facilities will provide working capital to further expand and support the Company’s future projected payroll and growth.
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Lands' End Announces Second Quarter Fiscal 2020 Results
September 3, 2020Lands' End, Inc. (NASDAQ: LE) today announced financial results for the second quarter ended July 31, 2020.
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WAYSIDE TECHNOLOGY GROUP, INC. : Entry into a Material Definitive Agreement, Financial Statements and Exhibits (form 8-K)
September 3, 2020On August 31, 2020, Wayside Technology Group, Inc. and certain of its wholly owned subsidiaries (collectively, the "Company"), entered into an amendment to the Company's existing $20,000,000 revolving credit facility (the "Amended Credit Facility") with Citibank N.A. ("Citibank")...
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