- Justin Rutledge Joins First Horizon Bank as Charlotte Market President
- Brean Capital to Acquire Depository & Insurance Investment Banking, Equity Research, and Institutional Equity Sales Businesses from Janney Montgomery Scott
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- SouthStar Capital Provides $5 Million Accounts Receivable Financing Facility for a Growing Commercial Construction Company
- Kimbell Royalty Partners Reaffirms $625 Million Credit Facility and Extends Maturity
TSL Express Daily Articles & News
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M&A and Refinancing to Lead Strong Leveraged Finance Activity in 2021, MUFG Predicts
Conducive factors include high market liquidity, low interest rates, accommodative Fed policy and a vaccination against COVID-19
The year 2021 is shaping up to be a strong and supportive one for leveraged finance, led primarily by merger-and-acquisition (M&A) and refinancing activity, according to the Capital Markets group at Mitsubishi UFJ Financial Group (MUFG).
Key members of the group delivered their outlook for leveraged finance to reporters and editors at a virtual MUFG media roundtable earlier this month that featured Jeffrey Knowles, Co-Head of Debt Capital Markets; Grant Moyer, Head of Leveraged Capital Markets; and Art de Peña, Head of Loan Syndications and Distribution.
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TSL Express Daily Headlines & News
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The Flowr Corporation Closes $25 Million Credit Facility
November 19, 2019The Flowr Corporation (TSXV: FLWR; OTC: FLWPF) (“Flowr” or the “Company”) is pleased to announce that it has closed its previously announced credit facility from a syndicate of lenders led by ATB Financial (“ATB”) and including Farm Credit Canada. The $25 million facilities consist of a $24.5 million recapitalization term facility and a $500,000 revolving operating credit facility (together the “ATB Credit Facilities”).
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Kevin Fretz Named BBVA USA Director of Franchise Finance
November 19, 2019BBVA USA announced today that it has promoted Kevin Fretz to the position of BBVA USA Director of Franchise Finance. Fretz will be tasked with managing the bank's franchise finance division, helping clients throughout the customer journey of obtaining, operating and maintaining their franchise. He boasts more than 20 years of experience in the financial industry in various roles.
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GlobalSCAPE Announces $55 Million Credit Facility
November 19, 2019GlobalSCAPE, Inc. (NYSE American: GSB) (the "Company"), a worldwide leader in the secure movement and integration of data, today announced it has entered into a five-year, $55 million senior secured credit facility with a syndicate of banks led by J.P. Morgan.
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Dorsey & Whitney Names New Partners
November 18, 2019Representing multiple offices and legal specialties, the new partners span Dorsey’s breadth of practices.
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Banc of California Names Lynn Hopkins Executive Vice President and Chief Financial Officer
November 18, 2019Ms. Hopkins succeeds Executive Vice President and CFO John Bogler, who resigned from the Company effective November 13, 2019. Mike Smith, the Company’s Chief Accounting Officer, has been appointed interim CFO until Ms. Hopkins joins the Company on December 9, 2019.
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United Bankshares, Inc. and Carolina Financial Corporation to Combine to Form Leading Community Bank in the Southeast and Mid-Atlantic
November 18, 2019United Bankshares, Inc. (“United”) (NASDAQ: UBSI), the parent company of United Bank (“United Bank”), and Carolina Financial Corporation (“Carolina Financial”) (NASDAQ: CARO), the parent company of CresCom Bank (“CresCom”), today announced that they have entered into a definitive merger agreement.
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Lazard UK Investment Banking Launches New Venture and Growth Banking Team
November 18, 2019Lazard Ltd (NYSE: LAZ) announced today that it has launched a new team called Lazard Venture and Growth Banking and appointed Garri Jones and Nick James as Managing Directors in its UK Investment Banking business. Garri and Nick will join in January from Numis where they ran a successful ventures practice.
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Enviva Partners, LP Announces Launch of $450.0 Million Offering of Senior Notes and Provides Notice of Conditional Early Redemption of the Existing 2021 Notes
November 18, 2019Enviva Partners, LP (NYSE: EVA) (the “Partnership” or “we”) today announced that, subject to market conditions, it intends to offer, with its wholly owned subsidiary Enviva Partners Finance Corp., $450.0 million in aggregate principal amount of senior unsecured notes due 2026 (the “2026 Notes”) in a private placement to eligible purchasers.
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Telesat Canada Announces Proposed Amendment to Existing Credit Agreement and Proposed Secured Notes Offering
November 18, 2019Telesat Canada (“Telesat”) today announced that it entered into discussions on November 15, 2019 to amend its existing credit agreement, dated March 28, 2012, among Telesat and Telesat LLC, as borrowers (the “Borrowers”), the guarantors party thereto, the lenders party thereto from time to time, JPMorgan Chase Bank, N.A., as administrative agent and collateral agent for the secured parties and the other financial institutions party thereto (such agreement, as amended prior to the date hereof, the “Existing Credit Agreement”).
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GigaMonster Announces Significant Fund Raise Through Barings Investment
November 18, 2019New capital enables expansion of GigaMonster’s Universal Access Network to additional customers in multifamily communities and commercial buildings.
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Cambridge Savings Bank’s ABL Team Closes Deal with Worcester Envelope Company
November 18, 2019Cambridge Savings Bank (CSB) announced the closing of a senior secured credit facility with Worcester Envelope Company, a print and mail solutions company headquartered in Auburn, Massachusetts. The credit facility provided by CSB’s Asset-Based Lending Team allowed Worcester Envelope to refinance their existing bank debt and will support future working capital needs of the company.
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Access Capital Provides $4.6 Million for Acquisition By Advance Employment Services, LLC
November 18, 2019Access Capital is pleased to share news of its latest transaction with The managing partners of Advance Employment Services, LLC (“Advance”) recently engaged Access Capital to finance the purchase of the commercial staffing business of the AccessPoint family of companies, a professional employer organization in the greater Michigan area.
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Jason M. Rimland Joins Tannenbaum Helpern as a Partner in the Firm’s Corporate Practice
November 18, 2019Jason M. Rimland brings over 20 years of transactional experience to Tannenbaum Helpern. He represents private investment funds, emerging and middle market companies, entrepreneurs, financial institutions and family offices in domestic and cross-border mergers, acquisitions and dispositions; debt and equity financing; venture capital; private placements; secured lending transactions; fund formations, and licensing agreements.
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Direct Lenders Ready for Bonanza as US Economy Cools
November 18, 2019Private credit funds with deep pockets, capital flexibility and sticky investments are positioning themselves for the yield bonanza that could follow if a cooldown in the US economy was to further shutter bank liquidity and investor appetite for broadly syndicated loans.
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Cloud Computing, Customer Relationship Tools, Cyber Security Lead Priorities for Small Businesses
November 18, 2019- Ongoing investments in technology and talent are critical to staying competitive, according to CIT survey - Investing in technology cited as a top driver of growth over the past 12 months - Current workforces have the technology skills to keep pace with digital transformation, but hiring tech-savvy employees remains a focus
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Octet Wins Citi Fintech Payment Award
November 18, 2019Leading global bank Citi has recognized Octet’s unique technology-driven finance offering, highlighting the best-in-class security offered by the global supply chain finance specialist. Citi honoured Octet for its innovative financing solutions to counter one of the biggest problems facing the global fintech sector – providing assurance for payments.
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Strawberry Fields REIT Acquires A Skilled Nursing Facility for $3.15 Million
November 18, 2019Strawberry Fields REIT, LLC (Strawberry Fields), an owner and lessor of skilled nursing facilities, long-term acute care hospital facilities and assisted living facilities in the Midwestern and Southern U.S., announced it has acquired a skilled nursing facility located in Indiana. The purchase price was $3.15 million, and the deal was completed with all cash.
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Legacy Reserves Announces Confirmation of Plan of Reorganization
November 18, 2019Legacy Reserves Inc. ("Legacy") and certain of its subsidiaries (collectively, the "Company") announced today that the U.S. Bankruptcy Court for the Southern District of Texas confirmed the Company's Joint Chapter 11 Plan of Reorganization (the "Plan").
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Utica Leaseco, LLC Announces $750,000 Transaction
November 18, 2019Utica Leaseco, LLC provided a $750,000 true lease secured by Machinery and Equipment to a medical company located in California. Utica provided the working capital for this company for new purchases.
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Keith Herron Retiring From Regions Bank After 31-year Career
November 18, 2019Following a distinguished career spanning more than 30 years, Regions Bank announced today that Keith Herron, Senior Executive Vice President, Head of Corporate Responsibility and Community Engagement, will retire from Regions.
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