- PlainsCapital Bank Welcomes Joey Myers as Senior Vice President, Senior Relationship Manager
- J D Factors Provides $14.7 Million in New Factoring Facilities in May
- BRC Specialty Finance Provides $20 Million Senior Secured Term Loan Supporting AI-Driven HPC Data Center Infrastructure Provider
- A&G Real Estate Partners Named ‘Real Estate Advisor of the Year’
- Camber Credit Closes Inaugural $82 Million Auto Securitization
TSL Express Daily Articles & News
To submit company news and press releases toTSL Express, email tslexpress@sfnet.com.
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Rob Swanson Joins MUFG Union Bank as Northern California Market President for Commercial Banking
MUFG Union Bank today announced that Rob Swanson has joined as Managing Director, Northern California Market President. Based in the Bay Area, Swanson reports to Bita Ardalan, Head of Commercial Banking for Union Bank.
In his role, Swanson will lead the strategy and management of the bank's middle market activities in Northern California and the Central Valley. He will oversee a high-caliber team of professionals providing advisory services and solutions specifically tailored to the unique business objectives of corporate clients across industries, as well as spearhead the Technology and Venture Banking industry verticals within the Commercial Bank.
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TSL Express Daily Headlines & News
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CNL Strategic Capital Closes on Investment in Blue Ridge ESOP Associates
March 30, 2020CNL Strategic Capital, LLC closed on a $12.5 million investment in Transition Finance Strategies LLC, which does business under the name Blue Ridge ESOP Associates (Blue Ridge). This is the sixth company in CNL Strategic Capital’s portfolio. CNL Strategic Capital is co-investing in Blue Ridge with LLCP Lower Middle Market Fund, L.P., an institutional fund and affiliate of Levine Leichtman Strategic Capital, LLC, the sub-manager of CNL Strategic Capital, as well as the existing owners and management team.
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Cooper Standard Further Enhances Financial Liquidity with Renewal of Revolving Credit and European Factoring Facilities
March 30, 2020Cooper Standard (NYSE: CPS) announced today that it has further enhanced its financial liquidity position through the renewal of its asset-based revolving credit ("ABL") facility and its European receivables factoring facility. The ABL facility, which was amended on March 24, 2020, provides a line of credit of up to $180 million, subject to borrowing base availability, with maturity in March 2025. The European factoring facility, which was renewed on March 2, 2020, allows the Company to factor up to €120 million of its Euro-denominated accounts receivable, accelerating access to cash and reducing credit risk.
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With Profound Sadness, Jefferies Announces Death of Jefferies Group LLC CFO, Peg Broadbent
March 30, 2020Jefferies Financial Group Inc. (NYSE: JEF) today announced with profound sadness that Peg Broadbent, the CFO of Jefferies Group LLC, has passed away from coronavirus complications. The entire Jefferies family mourns Peg’s loss. On behalf of our Board of Directors, management team and all our global employees, we extend our deepest sympathies to Peg’s family.
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Feds Urge Small-Dollar Bank Lending Amid COVID-19 Crisis
March 27, 2020Federal regulators said Thursday banks should think about providing small-dollar loans to help cash-strapped consumers during the coronavirus pandemic, guidance that consumer advocates say opens the door to predatory lending at the "worst possible time."
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Oak Valley Community Bank Announces Commercial Loan Officer Hiring
March 27, 2020Oak Valley Community Bank, a wholly owned subsidiary of Oak Valley Bancorp (NASDAQ: OVLY), announced that Rafael Martinez has joined the bank as Assistant Vice President, Commercial Loan Officer. Martinez will be based out of the Turlock Office. Martinez has 10 years of banking experience. He will focus on commercial and agricultural lending in Turlock and other adjacent cities.
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Jernigan Capital Upsizes Credit Facility to $375 Million with Reduced Pricing, Extended Maturity and Additional Banks; Provides Liquidity and Business Updates
March 27, 2020KeyBanc Capital Markets, Inc. and BMO Capital Markets Corp. acted as joint lead arrangers and syndication agents for the credit facility. KeyBank National Association acted as the Administrative Agent for the credit facility. Raymond James Bank, N.A. served as documentation agent. Other banks participating in the credit facility are Pinnacle Bank, Trustmark National Bank, Truist Bank, Synovus Bank, IberiaBank, FirstBank, Renasant Bank, and Triumph Bank.
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AlixPartners Expands Performance Improvement Practice with New Managing Director, Mo Habbas
March 27, 2020An expert in delivering large and complex transformation across industries with specialization in the TMT and industrial manufacturing sectors, Mo brings nearly 20 years of consulting experience, including four years at Deloitte where he was a Partner and Head of Value Creation Services. Mo holds an MBA degree from INSEAD.
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A Message to the Secured Finance Community
March 26, 2020After another tumultuous week I’d like to update you on steps SFNet is taking to address our collective interests in regard to the COVID-19 crisis.
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International Paper Company (IP) Enters New $750M Revolving Credit Facility, Has Not Drawn Down Lines
March 26, 2020International Paper Company (NYSE: IP) disclosed that on March 25, 2020, it entered into a $750 million 364-day revolving credit agreement with a syndicate of banks and other financial institutions, including Sumitomo Mitsui Banking Corporation; Banco Bilbao Vizcaya Argentaria, S.A., New York Branch; BNP Paribas and Credit Agricole Corporate and Investment Bank and Sumitomo Mitsui Banking Corporation, as administrative agent.
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Financial Reporting Considerations Related to COVID-19 and an Economic Downturn
March 26, 2020This Financial Reporting Alert discusses certain key accounting and financial reporting considerations related to conditions that may result from the COVID-19 pandemic as well as various industry-specific considerations. The significance of the topics discussed will of course vary by industry and entity, but we believe that the following accounting and reporting issues will be the most pervasive and challenging as a result of the pandemic’s impact:
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Veteran Commercial Banking Executives Randy Cameron and Dave Wood Join Voya Investment Management to Lead Voya’s Regional and Community Bank Advisory Program
March 26, 2020Voya Investment Management, the asset management business of Voya Financial, Inc. (NYSE:VOYA), announced today that Randy Cameron and Dave Wood have joined the firm as senior vice presidents to co- head the firm’s Regional and Community Bank Advisory Program. Based in Salt Lake City, both report to Charlie Shaffer, head of Distribution, Voya Investment Management (IM).
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Greenberg Traurig Re-Joins Forces with Leading Bankruptcy Guru Bruce Zirinsky
March 26, 2020In another timely move, Greenberg Traurig, the 2200-lawyer global firm, announced it is rejoining forces with Bruce Zirinsky, its former Co-Chair of the Restructuring & Bankruptcy Practice, and subsequently founder of Zirinsky Law Partners PLLC, a boutique law and advisory firm. Only last week, Greenberg Traurig announced the addition of Ian Jack in London, Baker McKenzie's former global co-head of restructuring and insolvency and a 20-plus-year partner at that firm, as Greenberg Traurig prepares to assist clients during the developing change in global markets caused by the growing health crisis.
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Mexican SME Lender Credijusto Secures Credit Facility From Credit Suisse for $100 Million
March 26, 2020Credijusto, the leading tech-enabled lender in Mexico, announced today that it closed a USD $100 million debt facility with Credit Suisse AG. The transaction follows the closing of a landmark USD $100 million credit facility with Goldman Sachs last year. These two transactions were the first such deals that both banks had completed with a Mexican fintech.
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Ares Capital Corporation Issues Letter to Stakeholders
March 26, 2020Ares Capital Corporation announced today that it issued an open letter to its stakeholders regarding a business update amid the coronavirus (“COVID-19”) pandemic.
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Kennedy Wilson Renews $500 Million Revolving Credit Facility
March 26, 2020Bank of America, N.A. will serve as administrative agent for the revolving credit facility. BofA Securities, Inc. acted as joint lead arranger and joint bookrunner, JPMorgan Chase Bank, N.A. as joint lead arranger and joint bookrunner, and U.S. Bank National Association served as joint lead arranger.
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Citizens M&A Advisory Advises LegalPartners on its Recapitalization by Eureka Equity Partners
March 26, 2020Citizens M&A Advisory served as the exclusive financial advisor to LegalPartners, a leading alternative legal services provider (ALSP) on its recapitalization by Eureka Equity Partners, a Philadelphia-based private equity firm. LegalPartners is a leading national ALSP platform providing outsourced team-based legal solutions, substantive engagements requiring sophisticated legal professional services, and traditional legal recruiting and placement.
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Altus Group Amends and Increases Credit Facility to $275 Million
March 25, 2020The Facility is effective March 24, 2020, subject to the satisfaction of customary closing conditions. Bank of Montreal is the Lead Arranger, Administrative Agent and Bookrunner, The Toronto-Dominion Bank is Syndication Agent, and HSBC Bank of Canada and National Bank of Canada are Co-Lead Arrangers and Co-Bookrunners.
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Main Street Announces Increase in Commitments Under its Credit Facility
March 25, 2020Main Street Capital Corporation (NYSE: MAIN) ("Main Street") is pleased to announce the expansion of total commitments under its revolving credit facility (the "Credit Facility") from $705.0 million to $740.0 million. The $35.0 million increase in total commitments was the result of the addition of a new lender relationship, which further diversifies the Main Street lending group under the Credit Facility to a total of eighteen participants.
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Vesta Draws Down $85 Million From Existing $125 Million Revolving Credit Facility Reinforcing Company's Strong Balance Sheet
March 25, 2020Corporación Inmobiliaria Vesta, S.A.B. de C.V. ("VESTA" or the "Company") (BMV: Vesta), one of the leading pure-play industrial real estate companies in Mexico, announced today the drawdown of US$85 million from an US$ 125 million existing three-year revolving credit facility, maturing in August 2022.
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ON Semiconductor Draws Down $1.17 Billion From Its Revolving Credit Facility
March 25, 2020ON Semiconductor Corporation (Nasdaq: ON) today announced that it has drawn down approximately $1.17 billion from its revolving credit facility. The company has no immediate use of the funds, and it has made the withdrawal out of abundance of caution to have access to sufficient liquidity in an uncertain macroeconomic environment. With this withdrawal, the company has made full use of its $1.97 billion revolving line of credit.
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