- BHI Appoints Gurpreet Bal as Chief Information Officer
- nFusion Capital Strengthens Ties with Returning Client Through $10 Million Asset Based Lending Facility
- First Bank Appoints Andy Scott as Triangle Regional Executive
- Armory Securities' Client Quark Software Acquired by Zax.AI
- Bain Capital Supports Growth of Kids2 with $225 Million Credit Facility
TSL Express Daily Articles & News
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Golub Capital BDC, Inc. Announces New $475.0 Million Senior Secured Revolving Credit Facility
Golub Capital BDC, Inc. (the “Company”, “we”, “us” or “our”) a business development company (Nasdaq: GBDC), today announced the closing of a new senior secured syndicated revolving credit facility (the “Facility”). The Facility is led by JPMorgan Chase Bank, N.A. and includes a total of six bank participants.
The Facility closed on February 11, 2021. Under the Facility, the lenders have agreed to extend credit to us in an initial aggregate amount of up to $475.0 million in U.S. dollars and certain agreed upon foreign currencies with an option to request, at one or more times, that existing and/or new lenders, at their election, provide up to $237.5 million of additional commitments.
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Blank Rome Welcomes Finance Partner Vanessa G. Tanaka in Chicago
March 4, 2020Blank Rome LLP is pleased to announce that Vanessa G. Tanaka has joined the Firm as a Partner in the Finance, Restructuring, and Bankruptcy group in the Chicago office, which continues to expand following the recent additions of new partners Craig R. Culbertson and Paul H. Tzur. Vanessa joins Blank Rome from Willkie, Farr & Gallagher LLP.
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Coronavirus Disaster: Why Firms Should Lead the Recovery
March 4, 2020Wharton's Michael Useem and Tyler Wry, and George Washington University’s Luis Ballesteros discuss how corporations can play a critical role during disasters like the coronavirus epidemic.
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Allied Affiliated Funding Announces Closed Transactions
March 4, 2020Allied Affiliated Funding, a division of Axiom Bank, N.A. closed $1,500,000 in receivables financing to a Texas-based trucking company that hauls frac sand, along with cement, fly ash and other non-hazardous dry bulk commodities for the oil and gas markets and $300,000 in receivables financing to a Texas-based boutique staffing company that provides temporary and permanent placement receivables, focusing on IT, finance and accounting, HR and office support roles.
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Stenn Joins International Trade and Forfaiting Association and Trade Finance Distribution Initiative
March 4, 2020ITFA, previously known as International Forfaiting Association, is the worldwide trade association for companies, financial institutions, and intermediaries engaged in trade and forfaiting. Stenn will also be part of the Trade Finance Distribution Initiative (TFDI), an ITFA working group with the ambition to modernize and standardise Trade Finance to efficiently include non-bank trade finance investors.
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Huntsworth Surges on $511 Million Buyout Deal From U.S. Private Equity Firm
March 3, 2020U.S.-based private equity firm Clayton, Dubilier & Rice said on Tuesday it will buy British advertising and marketing company Huntsworth for about 400 million pounds ($511 million), sending its shares surging 50%. Huntsworth's directors were advised by Rothschild & Co as to the financial terms of the deal, while BofA Securities were among financial advisers to CD&R.
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CraftWorks Holdings Reaches Agreement with Senior Lender to Substantially Reduce Debt, Strengthen Liquidity, and Better Position Popular Brewery and Casual Dining Brands for Long-Term Growth
March 3, 2020The agreement with affiliates of Fortress Credit Co LLC ("Fortress"), senior lenders to the Company, provides total consideration of at least $138 million plus the assumption of certain liabilities. The transaction is expected to result in a reduction of the Company's debt by more than $140 million, or more than 60 percent, and additional liquidity for future investment. Today's announcement follows the closure in recent weeks of 37 of the Company's underperforming locations.
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National Museum of American Jewish History Files for Bankruptcy
March 3, 2020CEO Misha Galperin said most of the museum's $30 million in debt stems from loans the museum took out to fund the construction of its new building on Independence Mall between 2008 -- at the height of the economic recession -- and 2010, when the building was completed. Outside funding levels declined sharply due to the recession, necessitating the loans, officials said.
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Avidbank Provides Falcon Critical Care Transport With $9 Million in Credit Facilities
March 3, 2020Avidbank Specialty Finance, a Division of Avidbank that specializes in technology, sponsor finance and asset-based lending, has provided Falcon Critical Care Transport with combined credit facilities of $9 million. The funding will be used for capital growth as the company expands its presence in Northern California.
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Comvest Credit Partners Announces Investment in Cassavant Holdings, LLC
March 3, 2020Comvest Credit Partners (“Comvest”) has acted as Administrative Agent and Lender in providing a $92.2 million Senior Secured Credit Facility (the “Financing”) to Cassavant Holdings, LLC (“Cassavant”), a vertically-integrated manufacturer of precision-machined components and sub-assemblies serving the aerospace and defense industries.
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Coronavirus May Spur Capital Flight from U.S. and Weaken Dollar, Says MUFG Americas Head of Trading
March 2, 2020The continued worldwide spread of COVID-19 (the coronavirus disease) may weaken the U.S. dollar over the long run by impelling multinational corporates and foreign investors in the United States to repatriate money back to their home countries, said Kuniyuki Hirai, Managing Director and Head of Trading in the Americas for Mitsubishi UFJ Financial Group (MUFG). Mr. Hirai delivered his remarks at an MUFG media roundtable last week to discuss the coronavirus's implications for the global economy and currency markets.
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Hilco Redevelopment Partners Hires Eddy Santamarina as Vice President of Development for the Southeast Region
March 2, 2020Mr. Santamarina joins Hilco Redevelopment Partners (www.HilcoRedev.com) as the Vice President of Development for the Southeast Region. In this role, he will be responsible for the overall development process in the southeast region for new and existing construction projects which includes land acquisition, due diligence, initial concept feasibility, land entitlement, governmental approvals, selecting project teams, design oversight, bidding, project budgets, construction oversight, project schedules, and leasing.
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Proskauer Expands Litigation Practice into the U.K. with the Addition of Partner Dorothy Murray in London
March 2, 2020Continuing its strategic growth in London, international law firm Proskauer announced today the arrival of Litigation Partner Dorothy Murray.
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North Mill Capital Funds $8,000,000 Asset-Based Credit Facility to Coastal Wire Company
March 2, 2020North Mill Capital is pleased to announce the funding of an $8,000,000 asset-based credit facility to Coastal Wire Company based in Georgetown, SC. The funds were used to pay off the previous lender and provide additional working capital for the company.
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Oxford Finance Welcomes Experienced Director to its Healthcare Real Estate Group
March 2, 2020Oxford Finance LLC ("Oxford"), a specialty finance firm that provides senior debt to healthcare services and life sciences companies worldwide, is pleased to announce Richard Russakoff has joined its Healthcare Real Estate lending team.
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Rosenthal Provides $750,000 Purchase Order Finance Facility for Manufacturer and Importer of OEM Industrial Components
March 2, 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 purchase order finance facility. The deal will support the production financing requirements of an Illinois-based manufacturer and importer of mechanical components for large customers in the OEM industrial sector.
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Kew Media Group Collapses & Directors Resign After Lenders Call In Debts
March 2, 2020In a statement issued to Kew Media Group’s investors on Friday, the company said it has been placed in receivership under the orders of the Ontario Superior Court. FTI Consulting Canada will manage Kew Media Group’s affairs, including selling off its assets. The collapse came just hours after Truist Bank demanded the “repayment of all amounts owing under the senior credit facilities” after Kew Media Group defaulted on its credit facility last year because it filed “inaccurate” financial information
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MidCap Business Credit Completes a $5 Million Revolving Credit Facility for Appco Pharma, LLC
March 2, 2020MidCap Business Credit completed a $5 million revolving credit facility for Appco Pharma, LLC. The facility was used to provide additional liquidity and support the company’s growth plans and working capital needs.
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36th Street Closes $8 Million Financing for Global Rideshare Company
March 2, 202036th Street Capital announced a recently funded $8 million equipment financing for a leading technology company that provides ridesharing, meal preparation and delivery services to end-users worldwide.
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North Mill Capital Funds $8,000,000 Asset-Based Credit Facility to Coastal Wire Company
March 2, 2020The funds were used to pay off the previous lender and provide additional working capital for the company. Coastal Wire Company was founded in 1978 and manufactures fully annealed, high-strength baling, tying and specialty wire products for the recycling and galvanizing industries.
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Austin Financial Services Provides $2.750M ABL Facility to a Midwest-based Freight Transportation Company
March 2, 2020Austin Financial Services, Inc. (AFS) is pleased to announce the closing of a $2.750M ABL facility to a Midwest based freight transportation company that provides freight management and brokerage services of fresh produce and refrigerated goods for customers nationwide. Proceeds from AFS’ revolver were used to pay off the Company’s existing bank line and provide new funds for working capital and to support business growth.
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