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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

  • Marriott Raises $920 Million Through Amended Agreements with Chase and Amex
    May 7, 2020
    hrough these amendments, Marriott will raise $570 million from Chase and $350 million from American Express, according to a filing with the Securities and Exchange Commission. Marriott will record these amendments as deferred revenue and make the cash available for general corporate purposes. The Chase agreement includes $500 million of prepayment of some future revenues and $70 million from Chase's early payment of a co-brand signing bonus that the two companies had agreed upon earlier.
  • MidCap Financial Announces Completion of $300mm Plus New Equity Financing
    May 7, 2020
    MIDCAP FINANCIAL is pleased to announce that it has completed an equity offering of more than $300mm. This offering is part of a comprehensive strategy to enhance MidCap Financial's financial flexibility in order to further cement the company's position as a leading capital provider of choice to the middle market.
  • AlixPartners Announces Peter D. Fitzsimmons has Rejoined as a Managing Director
    May 7, 2020
    AlixPartners, announced today that Peter D. Fitzsimmons has rejoined the company as a Managing Director. Peter has more than 30 years’ experience in client-focused leadership roles with companies of all sizes and across a wide range of industries. He has worked as a hands-on advisor, an interim C-level executive, and, most recently, as a private equity investor. Peter will be based in AlixPartners’ New York office.
  • Neiman Marcus Group Enters into a Restructuring Support Agreement with a Significant Majority of its Creditors to Substantially Reduce Debt and Position the Company for Long-Term Growth
    May 7, 2020
    Kirkland & Ellis LLP is serving as legal counsel to the Company, Lazard Ltd. is serving as the Company's investment banker, and Berkeley Research Group is serving as the Company's financial advisor. The Extended Term Loan Lenders are represented by Wachtell, Lipton, Rosen & Katz as legal counsel and Ducera Partners LLC as investment banker. The Noteholders are represented by Paul, Weiss, Rifkind, Wharton & Garrison LLP as legal counsel and Houlihan Lokey as investment banker.
  • Jeffrey Wurst Joins Armstrong Teasdale in New York City
    May 7, 2020
    Armstrong Teasdale is proud to announce the addition of Partner Jeffrey Wurst to its Bankruptcy and Financial Restructuring practice in New York City. Wurst has more than 30 years of experience and is well recognized for handling significant commercial finance and bankruptcy matters. He is one of over 45 attorneys and staff the firm has added to-date in 2020.
  • M&A Activity in North America Consistently Declined During Q1 2020 as COVID-19 Impacted Deals, says GlobalData
    May 7, 2020
    The number of mergers and acquisition (M&A) deals in North America consistently declined during the first quarter (Q1) of 2020, from 1,178 in January to 1,024 in February and 820 in March, according to GlobalData, a leading data and analytics company.
  • Sierra Income Corporation Announces Termination of Mergers
    May 6, 2020
    Sierra Income Corporation (“Sierra” or the “Company”) today announced that effective as of May 1, 2020 its Board of Directors has terminated its previously announced mergers with Medley Capital Corporation (“MCC”) and Medley Management Inc. (“MDLY”) as the Outside Date (as defined below) has passed and neither of the mergers were consummated.
  • TAB Bank Provides Finance Company in Texas with a $4 Million Rediscount Credit Facility
    May 6, 2020
    TAB Bank is pleased to announce it has provided a $4 million rediscount credit facility for a finance company based in Texas. The new facility is extended through a multi-year agreement and will provide increased liquidity for the company.
  • Paycheck Protection Program Frequently Asked Questions (FAQs) as of May 19
    May 6, 2020
    The Small Business Administration (SBA), in consultation with the Department of the Treasury, intends to provide timely additional guidance to address borrower and lender questions concerning the implementation of the Paycheck Protection Program (PPP), established by section 1102 of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act or the Act). This document will be updated on a regular basis.
  • In a Pandemic, Food, Booze and Guns Retain Value Best
    May 6, 2020
    Apparel, accessories and footwear are riskier assets to finance, liquidation firm Tiger Capital Group finds.
  • Fortuna Announces Proposed Amendments to Financial Covenants in Credit Facility
    May 6, 2020
    Fortuna Silver Mines, Inc. (NYSE: FSM) (TSX: FVI) provides an update on discussions with its senior lenders to amend the financial covenants contained in its US$150 million credit facility (the “Credit Facility”) (refer to Fortuna news release dated April 2, 2020).
  • Tenneco Completes COVID-19 Covenant Amendments To Senior Credit Facility
    May 6, 2020
    Tenneco (NYSE: TEN) announced today that its senior lenders have agreed to amend the financial covenant ratios of its senior secured credit facility, significantly increasing the maximum leverage ratio and decreasing the minimum interest coverage ratio requirements in the company's senior credit facility. The revised covenant amendments are expected to help the company manage through the anticipated temporary drop in revenue and earnings related to the COVID-19 pandemic while maintaining compliance with senior credit facility terms.
  • Chatham Lodging Trust Executes Credit Facility Amendment
    May 6, 2020
    Participating lenders in the credit facility include Barclays Bank PLC, Regions Capital Markets, Citibank N.A., US Bank National Association, Wells Fargo Bank National Association, Bank of America N.A., Citizens Bank N.A. and BMO Harris Bank N.A.
  • PPPLF Update and Summary
    May 5, 2020
    On April 30, 2020, the Federal Reserve announced that it is expanding eligibility to participate in the Federal Reserve’s Paycheck Protection Program Liquidity Facility (the “PPPLF”) to all lenders eligible to originate Paycheck Protection Program loans.[1] The PPPLF permits eligible PPP lenders to pledge PPP loan notes to the Federal Reserve in exchange for a low interest, non-recourse loan from the Federal Reserve in the amount of the pledged PPP loan note.
  • Solar Capital Partners Adds Senior Professionals
    May 5, 2020
    Solar Capital Partners ("SCP") announces the addition of four senior professionals to expand SCP's investment and business development capabilities. Gary Lembo joined the investment team as a Partner, senior underwriter, and originator. Mr. Lembo has 25 years of experience originating and underwriting investments in middle market companies. Most recently, Mr. Lembo was a Director at BlackRock/TCP. Previously, Mr. Lembo served as a Managing Director at CRG Partners and Marathon Asset Management, LP.
  • Ladder Capital Corp Announces Strategic Financings
    May 5, 2020
    Ladder Capital Corp (“Ladder” or the “Company”) (NYSE: LADR) today announced that it has entered into a strategic financing arrangement (the “Agreement”) with Koch Real Estate Investments, LLC (“Koch”), an affiliate of Koch Industries, under which Koch will provide the Company with approximately $206.4 million in senior secured financing (the “Koch Facility”) to fund transitional and land loans. The Company also announced the completion of a private CLO with Goldman Sachs Bank USA (“Goldman”), which generated $310.2 million of gross proceeds to Ladder.
  • Walker & Dunlop Closes Largest Transaction in Company History with $2.4 Billion Credit Facility
    May 5, 2020
    Walker & Dunlop, Inc. announced today that it closed the largest transaction in company history; a $2.4 billion Fannie Mae Credit Facility to refinance 67 multifamily properties located in the Washington, D.C. metropolitan area. The borrower, Southern Management Corporation, is the largest privately-owned residential property-management company in the Mid-Atlantic region.
  • Succession Resource Group Launches LendingWell Amid COVID-19 Pandemic
    May 5, 2020
    Succession Resource Group, Inc. is a succession consulting firm specialized in helping financial professionals value, protect, merge/acquire, and develop exit strategies for their business. With decades of combined industry experience, SRG possesses a unique combination of skills, resources, and expertise to help advisors understand the value of their business, develop strategies to improve that value, protect it with comprehensive contingency and succession plans, and grow through acquisition.
  • Gerber Finance Inc. Funds $1 Million Line of Credit to Spectron Glass & Electronics, Inc.
    May 4, 2020
    Producing state of the art tilt sensors for both the military and commercial marketplaces. Spectron tilt sensors have been designed into most of the worlds jet aircraft, both fixed and rotary wing which also provides gravity reference for torpedoes, missiles, land navigation, ship antennas, microwave landing systems, and a host of other applications.
  • InterNex Capital Passes $500 Million in Client Fundings
    May 4, 2020
    InterNex Capital announced that it surpassed $500 million in client fundings after launching to the market just over three years ago. “This momentous milestone is a testament to the value we are bringing to small and medium-sized businesses across the United States. We started InterNex because we knew these underserved businesses needed more than just money. They want technology that makes running their businesses and accessing capital easier.

 

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