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Otterbourg Names Valerie Mason and Nneoma Maduike as Co-Chairs of Lender Finance Practice Group
Otterbourg P.C. announced today that Valerie S. Mason and Nneoma A. Maduike have been named Co-Chairs of the firm’s Lender Finance Practice Group.
Otterbourg’s experienced Lender Finance team advises and represents the largest US and global institutional lenders and regional banks, as lenders and mature lenders, sponsor supported companies, and strategics, ranging from start-ups to mature traditional lenders and funds, merchant cash advance companies, asset-based lenders, factors and fintech lenders, as borrowers, in “lender to lender” secured revolving credit and term loan facilities.
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TSL Express Daily Headlines & News
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Michigan Women Forward Launches Small-business Relief Program
April 14, 2020Loan deferrals and grants geared toward Michigan's women entrepreneurs working in collaboration with SBA, Huntington Bank and others entrepreneurs are feeling community support, says MWF CEO. The new relief program, done in financial partnership with Detroit-based New Economy Initiative's Small Business COVID-19 Loan Relief Program, the Small Business Administration (SBA) and Huntington Bank, officially launched April 1 for the organization's existing companies and will run through September.
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Walt Disney Enters New $5 Billion Credit Agreement For Coronavirus Cushion, Follows $6 Billion Debt Sale Last Month
April 14, 2020Walt Disney said Monday it’s entered into a new $5 billion, one-year credit agreement. That follows $6 billion the company raised last month with a sale of debt securities. The current agreement matures in April of 2021 and could be extended for a year. It provides for advances to be made for a year to be used for general corporate purposes, the company said in a SEC filling.
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Siena Lending Group Announces First Quarter Results
April 14, 2020Siena Lending Group closed five deals totaling $51 million for an accessories manufacturer and food container manufacturer and companies provided software development, logistics and transportation. Siena Healthcare Finance closed two deals totaling $12 million for a skilled nursing facility chain and medical and government staffing.
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Santander US Announces Leadership Appointments
April 14, 2020Brian Yoshida named Chief Legal Officer for Santander US; Joe Abruzzo named Head of Commercial Banking for Santander Bank
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OnDeck Capital Starts Applications Process for SBA's Paycheck Protection Program
April 14, 2020On Deck Capital Inc., in partnership with Celtic Bank, will be serving small business owners seeking funding under the Small Business Administration's Paycheck Protection Program loan applications, a part of the Coronavirus Aid, Relief and Economic Security Act, known as the CARES Act.
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Boskalis Refinances its Revolving Credit Facility With a new EUR 500 Million Facility
April 14, 2020Royal Boskalis Westminster N.V. (Boskalis) has refinanced its revolving credit facility (RCF) providing the company with EUR 500 million committed bank financing until April 2025. The new facility was coordinated by ING Bank and is provided by a syndicate of seven banks (ABN AMRO Bank, BNP Paribas, HSBC, ING Bank, MUFG, Rabobank and NatWest).
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Darden Restaurants Provides Business Update Related to COVID-19 And Announces New Term Loan
April 14, 2020Bank of America, N.A., served as administrative agent for the new term loan credit agreement. Additionally, BofA Securities, Inc. and U.S. Bank National Association served as joint lead arrangers and joint bookrunners, U.S. Bank National Association served as syndication agent and Truist Bank served as documentation agent.
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Blackstone and Alnylam Enter Into $2 Billion Strategic Financing Collaboration to Accelerate the Advancement of RNAi Therapeutics
April 14, 2020Blackstone (NYSE: BX) and Alnylam Pharmaceuticals, Inc. (Nasdaq: ALNY), the leading RNAi therapeutics company, today announced the companies have entered into a broad strategic collaboration under which Blackstone will provide up to $2 billion to support Alnylam’s advancement of innovative RNA interference (RNAi) medicines that have the potential to transform the lives of patients suffering from a range of debilitating diseases.
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Hitachi Capital America Welcomes David Williamson as Vice President of Sales, Technology Finance
April 14, 2020Hitachi Capital America Corp. (HCA) today announced that David Williamson has joined the company as vice president of Sales, Technology Finance. David is responsible for originating, structuring, and closing working capital and supply chain financing relationships with new clients in the technology sector. He is based in southern California and reports to Paul Stemler, president of the Technology Finance business.
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Maxim Commercial Capital Funded 250 Businesses in 1Q 2020
April 14, 2020Maxim Commercial Capital is pleased to announce it funded hard asset-secured financings for 250 small and mid-sized businesses (SMBs) during the first quarter of 2020. With the onset of the COVID-19 pandemic, Maxim adapted quickly to safer-at-home working conditions for its 30+ team members. Maxim lends $10,000 to $3,000,000 to SMBs nationwide secured by heavy equipment and real estate to facilitate asset purchases, working capital and to refinance expensive short term debt.
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Gordon Brothers Announces Launch of COVID-19 Industry Brief
April 13, 2020Gordon Brothers, the global advisory, restructuring, and investment firm, announced today the launch of its Industry Brief, which can be found on the COVID-19 Resource Hub at www.gordonbrothers.com/covid-19. Gordon Brothers’ Industry Brief gives an up-to-the-minute assessment of what the firm’s inventory, machinery and equipment, and intangibles experts see happening in multiple markets. The Industry Brief also comments on how values may be affected based on the most recent trends and events in the near, medium, and long term.
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KeyBank Names Greg Jones as Chief Diversity, Equity, and Inclusion Officer
April 13, 2020KeyCorp (NYSE: KEY) today announced that Greg Jones has been named Chief Diversity, Equity, and Inclusion Officer for the company. In this role, Greg will be accountable for leading the strategy and tactics to improve the acquisition, movement, development and retention of diverse talent and suppliers.
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Old Hill Partners Provides a $10 Million Credit Facility to HealthGrowth Capital
April 13, 2020Old Hill provided $10 million in the form of a senior secured revolving-to-term credit facility to HealthGrowth Capital, LLC, a leading direct lender to community pharmacies. The facility was secured by first lien perfected security interest in pharmacy loans.
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SierraConstellation Partners Hires Bill Partridge as Managing Director in Bay Area, Adds Staff Nationwide
April 13, 2020Merv Merzoug Joins as Director in New York City; Elizabeth Knapp Joins as Executive Assistant to Boston Office Leader Tom Lynch.
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Allied Affiliated Funding Announces Recently Closed Transactions
April 13, 2020Allied Affiliated Funding, a division of Axiom Bank, N.A. is pleased to announce the following recently closed transactions: $600,000 in receivables financing to a Texas-based company specializing in the recycle, repair, and resale of previously used electronics to wholesale and e-commerce customers and $1,500,000 in receivables financing to a Texas-based company providing inspection services for pipeline/rigs and consulting and training services to the oil and gas industry. .
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AMC Theaters in Talks to Hire Bankruptcy law Firm Weil Gotshal Amid Coronavirus Shutdown
April 13, 2020The largest U.S. largest movie theater chain, whose cinema houses have been shuttered nationwide since mid-March because of the coronavirus epidemic, is in talks to hire law firm Weil Gotshal & Manges to explore a potential Chapter 11 filing, The Post has learned. Weil Gotshal’s team is headed up by lawyer Ray Schrock, who lately has worked as bankruptcy counsel to California utility PG&E, the Fairway supermarket chain, and retail icon Sears Holdings, many of whose stores got taken over by billionaire Eddie Lampert.
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West Fraser Enters into $150 Million Committed Revolving Credit Facility and adopts Shareholder Rights Plan
April 13, 2020West Fraser Timber Co. Ltd. ("West Fraser" or the "Company") announced today that it has obtained from a syndicate of lenders an additional $150 million committed revolving credit facility. This committed facility has a term of two years and is made available on substantially the same terms and conditions as the Company's existing syndicated revolving credit facility from certain lenders that are part of that syndicate. The facility can be used for general corporate purposes.
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Oak Valley Community Bank Hires Matt Morgado as Commercial Loan Officer
April 13, 2020Morgado brings over 25 years of commercial and agricultural banking experience to Oak Valley. In his role, he will be responsible for business development and relationship management in the greater Sacramento area.
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Pace Industries Reaches Agreement to Strengthen Its Balance Sheet, Announcing Plan to Position the Business to Realize the Full Benefit of Its Operational Improvements Following COVID-19
April 13, 2020Pace Industries, LLC ("the Company") today announced that it has reached an agreement with its senior secured lenders on the terms of a comprehensive financial restructuring plan, which will deleverage the Company's balance sheet. This agreement has support from 100% of the holders of its senior secured notes as well as its revolving credit facility lenders.
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LSC Communications Takes Action to Strengthen Its Liquidity and Improve Its Capital Structure Voluntarily Files for Business Reorganization under Chapter 11
April 13, 2020Sullivan & Cromwell LLP is serving as legal advisor, Evercore Group L.L.C. is serving as financial advisor and AlixPartners, LLP is serving as restructuring advisor to the Company.
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