- Seth Friedman of Abacus Finance Group Appointed to SBIA Board of Governors as Northeast Regional Chair
- TAB Bank Extends a $15 Million Asset-Based Lending Facility to Gehr Industries
- Entrepreneur Growth Capital Provides $17,500,000 Line of Credit to Supply Chain Solutions Provider
- Gridiron Announces Investment Professional Steve Lamb as Managing Director
- Rostrum Pacific Secures $150 Million in Financing from Crayhill Capital Management to Accelerate Music Catalog Growth Strategy
TSL Express Daily Articles & News
To submit company news and press releases toTSL Express, email tslexpress@sfnet.com.
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Wingspire Capital Provides $50 Million Senior Secured Loan to Vantage Mobility International
Wingspire Capital LLC (“Wingspire”) announced today that it has provided a $50 million senior secured revolving credit facility to Vantage Mobility International (“VMI”), a leading manufacturer of wheelchair accessible vans with in-floor ramp systems.
VMI is using the proceeds to finance its inventory of vans purchased from original equipment manufacturers and fund its normal working capital cycle.
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TSL Express Daily Headlines & News
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Seven Aces Limited Announces New US$165 Million Credit Facility and Acquisition of Additional Gaming Contracts
January 29, 2020KeyBank National Association and KeyBanc Capital Markets Inc. (together, "KeyBank") are acting as a joint lead arranger and a joint bookrunner, and as administrative agent and collateral agent under the Credit Facility. The proceeds of the Credit Facility will be used to finance the acquisition of gaming contracts and associated skill-based digital gaming terminals from Shivbhakti, Inc. ("Game Vendor"), refinance Lucky Bucks' existing indebtedness, fund certain fees and expenses associated with the closing of the Credit Facility
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CrowdOut Capital Provides Term Loan and Growth Facility to Wild Wing Cafe
January 29, 2020CrowdOut Capital LLC, a pioneering non-bank lender for middle-market companies, today announced the completion of a term loan and a delayed draw growth facility to Wild Wing Cafe. Founded in Hilton Head, Wild Wing Cafe owns and operates a successful restaurant franchise with 44 system-wide restaurants (16 corporate, 28 franchised) across nine states, predominately across the Southeast.
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CIFC Strengthens High Yield Capabilities With Experienced Team Led by Jason Horowitz as Head of U.S. High Yield Bond Investments
January 29, 2020CIFC LLC (“CIFC”), a leading alternative credit specialist serving institutional investors globally, today announced that it has appointed Jason Horowitz as Head of U.S. High Yield Bond Investments to lead the expansion of CIFC’s high yield investment business. In this new role, Mr. Horowitz is supported by seasoned high yield investment professionals, Managing Director Brandon Hole and Executive Director Eric Seiden. Mssrs. Horowitz, Hole and Seiden join CIFC from Millennium Management and are based in New York.
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Comtech Telecommunications Corp. to Acquire Gilat Satellite Networks for $532.5 Million in a Strategic and Cash Accretive Transaction
January 29, 2020Comtech expects to fund the acquisition and related transaction costs by redeploying a portion of the $100.0 million of pro forma combined cash and cash equivalents plus additional cash expected to be generated prior to closing, and by drawing on a new $800.0 million secured credit facility to be provided by Citibank, N.A., Manufacturers and Traders Trust Company (“M&T Bank”), Santander Bank, N.A., BMO Harris Bank, N.A. (“Bank of Montreal”), Regions Bank, Israel Discount Bank of New York and Goldman Sachs Bank USA.
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SG Credit Partners Provides $4.0 Million to Midwestern Mechanical Contractor
January 29, 2020SG Credit Partners teamed up with CapitalPlus Construction Services to provide a $13.0 MM structured factoring facility based on the Company’s strong ownership group, diversified customer base, and leverage profile.
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TAB Bank Expands West Coast Presence With the Launch of a Los Angeles Loan Production Office (LPO)
January 29, 2020TAB Bank announced today the launch of a Los Angeles Loan Production Office (LPO) to better serve its new and existing clients in the Western Region. TAB Bank has promoted Brett Horwitz to Managing Director and Head of Originations-Western Region and promoted Traci Crabtree to serve as Western Regional Underwriting Manager.
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Luis Massiani Promoted to President of Sterling National Bank
January 29, 2020Sterling Bancorp (NYSE: STL) today announced the promotion of Luis Massiani to President of Sterling National Bank. In addition to maintaining his role as Chief Financial Officer of Sterling Bancorp and Sterling National Bank, Mr. Massiani will lead all finance, bank operations and consumer banking functions.
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White Oak ABL, LLC Provides $75MM Asset-Based Credit Facility to Hunt & Sons, Inc.
January 29, 2020White Oak ABL, LLC ("White Oak"), an affiliate of White Oak Global Advisors, announced today it closed a $75MM asset-based credit facility with Hunt & Sons, Inc., a third-generation, family-owned diversified petroleum products distributor.
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Hedaya Capital Group Announces the Completion of a $750,000 Factoring Facility for a Candle Company; Manufacturing in the United States
January 29, 2020The Hedaya Capital Group, Inc. is pleased to announce a $750,000 factoring facility for a candle manufacturer based in the mid-west. The Company manufactures and wholesales: tealight, votive, pillar, taper, dinner, and filled candle products and distributes them to online, specialty, and retail store chains throughout the United States.
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Oxford Finance Closes Credit Facility with Impact Advisors
January 28, 2020Oxford Finance LLC (“Oxford”), a specialty finance firm that provides senior debt to life sciences and healthcare services companies worldwide, today announced the closing of a senior credit facility to Impact Advisors (“the Company”), a leading provider of clinical, revenue cycle and information technology advisory services to the healthcare industry. Concurrently, the Company entered into a strategic partnership with Chicago Pacific Founders (“CPF”), an investment firm exclusively focused on healthcare services and caring for aging populations. Oxford is the sole lead arranger and administrative agent in this transaction.
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Leading M&A Lawyer Adel Aslani-Far Joins Greenberg Traurig in New York
January 28, 2020M. Adel Aslani-Far, widely recognized as one of the United States’ leading public company mergers and acquisitions attorneys, has joined the New York office of Greenberg Traurig, LLP as a shareholder in the firm’s Global Corporate Practice. Aslani-Far joins from Latham & Watkins LLP, where he was a partner and former global co-chair of the firm’s Mergers & Acquisitions Practice.
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Stephano Slack Builds Accounting and Auditing Practice with New Hire
January 28, 2020Stephano Slack, LLC, a leading regional accounting and consulting firm, has hired James Forgione, CPA as a Partner in the firm’s Accounting and Auditing Department, effective January 2, 2020. He has a blend of national and regional firm experience and a deep client service focus.
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Teekay Tankers Announces Asset Sales and New Debt Facility
January 28, 2020The Company has closed a new five-year, $533 million revolving credit facility to refinance 31 vessels. The size of the new debt facility was reduced since announcing the term sheet signing in November 2019 as a result of excluding five vessels from the new facility, including the three vessel sales noted above and a potential for further opportunistic vessel sales. The proceeds from the new debt facility will be used to repay approximately $455 million of the Company’s existing debt. The new debt facility has substantially similar terms and extends balloon maturities from 2020/2021 until the end of 2024.
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U.S. Xpress Enterprises Announces New $250 Million Revolving Credit Facility
January 28, 2020U.S. Xpress Enterprises, Inc. (NYSE:USX) (the “Company”) today announced the refinancing of its Senior Credit Facility. Eric Peterson, Chief Financial Officer commented, “We appreciate the continued support from our lenders, with Bank of America, JP Morgan Chase Bank, Wells Fargo Bank, and Regions Bank all remaining in our bank group.
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International Seaways Announces Refinancing and Closing of New Senior Secured Credit Facilities
January 28, 2020Nordea Bank Abp, New York Branch (“Nordea”), ABN AMRO Capital USA LLC (“ABN”), Crédit Agricole Corporate & Investment Bank, DNB Capital LLC and Skandinaviska Enskilda Banken AB (PUBL) acted as Mandated Lead Arrangers and Bookrunners. Nordea acted as Administrative Agent.
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MCG Finances $325 Million for a Fashion Firm Based in NYC
January 28, 2020Private Lending Firm MCG, recently financed a New York-based fashion firm. The deal, worth $325 million, consists of a term loan in the amount of $195 Million and a $130 Million working line of credit. MCG has earned a reputation as the go-to lender for those in need of flexible capital. "Hybrids, a combination of a loan and line of credit, are complicated. We were able to get it done and give them favorable terms because they have had an a proven track record for over 25 years" said Stan Bril, CEO of MCG.
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Castor Announces Financing Agreements
January 28, 2020Castor Maritime Inc., a global shipping company specializing in the ownership of dry bulk vessels, today announced that it has successfully entered into two agreements: (i) a secured term loan financing agreement and (ii) a non-brokered private placement of unsecured convertible debentures. The secured term loan facility and the convertible debentures are subject to normal closing conditions.
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Expected Surge in Chinese Company Defaults Will Spur Restructuring Demand as Funds Gear up to Swoop on Distressed Assets, Says A&M advisor
January 28, 2020Corporate delinquencies climbed to a record high of 153.5 billion yuan (US$22 billion) last year, up from 117.1 billion in 2018, according to Wind data. As China’s economic growth slows, more companies are likely to run into liquidity problems, while corporate earnings and cash flow are weakening, says A&M’s Ron Thompson
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KeyBank Appoints Matthew Hummel Commercial Banking Team Leader
January 28, 2020As part of its planned expansion of commercial banking talent and resources across the Northeast, KeyBank announced that Matthew Hummel has joined the bank in the newly created position of Commercial Banking team leader, reporting to market president James Barger. In his new role, Hummel will lead and expand the team of commercial bankers serving middle-market clients in Connecticut and Western Mass. and help drive KeyBank’s commercial business growth throughout the market.
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LendCare Announces New Credit Facility to Support Unprecedented Growth Français
January 28, 2020LendCare Capital, a leading Canadian point-of-sale finance and technology company, announced today it has secured a new $100 million (CAD) financing commitment from a leading institutional asset manager. This facility supplements the company's current $250 million senior facility, and along with other existing relationships brings LendCare's total funding capacity to $450 million.
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