- SouthStar Capital Funds $250,000 Accounts Receivable Facility for Growing Telecommunications Company
- i80 Group and Brim Partner to Offer Funding-as-a-Service With $300 Million Credit Facility
- Commercial Metals Announces Credit Facility Amendment
- Monroe Capital Supports Growth of Recognize Partners’ SDG Corporation
- Gordon Brothers Invests in Rachel Zoe
TSL Express Daily Articles & News
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CIT Northbridge Serves as Sole Lead Arranger on $20 Million Secured Credit Facility for Laurel Grocery
CIT Group Inc. (NYSE: CIT) today announced that CIT Northbridge Credit, as advised by CIT Asset Management LLC, served as sole lead arranger on a $20 million senior secured credit facility for Laurel Grocery Company LLC.
Headquartered in London, Kentucky, Laurel Grocery is a wholesale distributor of grocery products to more than 160 independent grocers in Georgia, Indiana, Kentucky, Ohio, Tennessee and West Virginia. The company, founded in 1922, also provides a range of business services, including accounting, insurance, merchandising, advertising and third-party warehousing and logistics.
Proceeds will be used to repay debt, finance growth initiatives and support ongoing operations.
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TSL Express Daily Headlines & News
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LendingUSA Announces New $250 Million Investment Commitment from Atalaya
October 23, 2019The announcement comes as LendingUSA, a leading point-of-sale (POS) fintech company that offers merchants a seamless financing solution with access to instant pre-approval decisions, promotional financing terms and low monthly payment options, continues to see rapid growth in its markets.
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CRH Medical Announces New Revolving Credit Facility
October 23, 2019CRH Medical Corporation (TSX: CRH) (NYSE MKT: CRHM) ("CRH" or the "Company") today announced that it has entered into a new, three year revolving credit facility (the "new facility"), which provides up to $200 million in borrowing capacity, and represents an increase from the company's previous $100 million facility.
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SoftBank Clinches WeWork Takeover Deal, Bailing Out Co-Founder
October 23, 2019SoftBank Group agreed to spend more than $10 billion to take over WeWork on Tuesday, doubling down on an ill-fated investment and giving a near $1.7 billion payoff to the U.S. office-space sharing startup's co-founder Adam Neumann to relinquish control.
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Amerisource Closes $25,000,000 Credit Facility for Oil Field Services Company
October 23, 2019Amerisource Business Capital announced the closing and funding of a $25,000,000 credit facility for an oil field services company based in Texas and Oklahoma.
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Santander Agrees to Sell its Retail and Commercial Banking Franchise in Puerto Rico to FirstBank Puerto Rico for Approximately $1.1 Billion
October 22, 2019Santander today announces that it has agreed to sell its retail and commercial banking franchise in Puerto Rico, Santander Bancorp (the holding company that includes Banco Santander Puerto Rico), to FirstBank Puerto Rico, for a total consideration of approximately $1.1 billion (€1 billion) 1. Banco Santander Puerto Rico is the fourth largest banking franchise on the Island with a deposit market share of c.8%. It has 27 branches and 1,000 employees, with total assets of $6.2 billion (€5.6 billion).
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Santander Bank Expands Suite of U.S. Commercial Banking Solutions with Santander Cash Nexus Platform
October 22, 2019Santander Bank today unveiled its global Santander Cash Nexus solution for Commercial Banking and Corporate and Investment Banking clients in North America. This new platform offers clients a comprehensive suite of global connectivity solutions and provides access to local payment initiation and information reporting services in 15 markets around the world via a single point of entry.
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Aligned Energy Secures Nearly $500 Million Facility to Support Expansion Plans
October 22, 2019Aligned Energy, a leading data center provider offering innovative, sustainable and adaptable colocation and build-to-scale solutions for cloud, enterprise, and managed service providers, announced today it has completed a $495 million secured credit facility with investors including Goldman Sachs Bank USA, CPPIB Credit Investments Inc. (CPPIB Credit), a subsidiary of the Canada Pension Plan Investment Board, and a global investment management corporation.
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Sallyport Commercial Finance Supplies Credit Facility to Food Manufacturer
October 22, 2019Sallyport Commercial Finance offers a $500,000 accounts receivable facility, including a small purchase order solution that helps fuel future growth.
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Northern Oil and Gas, Inc. Announces Expansion of Senior Secured Credit Facility and Launch of Consent Solicitation
October 22, 2019Northern has engaged Wells Fargo Securities as Left Lead Arranger, Bookrunner and Administrative Agent. Wells Fargo Securities has obtained lender commitments to the Credit Facility for substantially more than $800 million to date, subject to customary closing conditions.
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ToneyKorf Partners, LLC Facilitates the Integration of Milford Hospital in to Yale New Haven Health System and Completes Separate Sale of the Off-Shore Captive Insurance Company
October 22, 2019ToneyKorf Partners, LLC was hired to lead Milford Health and Medical, Inc. (“Milford”), a not-for-profit corporation in Milford, CT, that included an acute care hospital, home care agency, captive insurance company, and medical office buildings. Like many community hospitals and systems, Milford was financially and operationally struggling despite cost-cutting measures and reductions in clinical service offerings.
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Vcheck Global Hires Adam Fromowitz as a Managing Director for New York Operation
October 22, 2019Vcheck Global, a leading provider of business-to-business due diligence background checks, is delighted to announce the hiring of Adam Fromowitz. Fromowitz brings nearly a decade of experience in financial, technology, and professional services to his new role as a Managing Director for Vcheck Global.
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US Investors Look to Specialty Finance as Interest Drops in Private Credit
October 22, 2019Investors who have binged on the US private credit market in the last few years are now turning to the growing specialty finance space where competition is less intense and spreads are more attractive. Because of the complexity of the lending structures, the specialty finance market is only a fraction of the size of cash flow lending, but investors are attracted to the potential for double-digit returns and the enhanced protection from asset collateralization.
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Wonderfilm Announces Marketing of CAD$65.9 Million Asset-Backed Debt Facility
October 22, 2019The Wonderfilm Media Corporation ("Wonderfilm" or the "Company") (WNDR.V) (WDRFF), a producer of high-quality feature films and episodic television with international appeal, today announces the co-marketing of a third-party, USD$50 million (C$65.9 million) asset-backed debt facility (“Facility”) designed to escalate the pace of the Company’s revenue and increase overall production efficiency.
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Banks and Independents Report Strong Performance In Secured Finance in First Half of 2019
October 21, 2019
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Phoenix Lending Survey Results Reveals Lenders are Increasingly Pessimistic of the U.S. Economy
October 21, 2019After a brief resurgence in Q2 2019, lenders displayed a more adverse outlook and assessment of the U.S. economy for the near term. The GPA for the U.S. economy in the near term significantly decreased 39 percentage points to 2.38 from the Q2 2019 results of 2.77. Additionally, lenders optimism of the U.S. economy in the long term continued to weaken, slightly decreasing 3 percentage points to a 2.04 from the previous quarter’s results of 2.07.
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OncoCyte Amends Loan Agreement With New $3M Credit Facility
October 21, 2019OncoCyte said in a regulatory filing on Monday that it has entered into an amended agreement with Silicon Valley Bank for a new $3 million secured credit facility, a portion of which has been used to repay the remaining balance of approximately $400,000 on outstanding loans with the same lender plus a final payment of $116,000 under the two parties' February 2017 loan agreement.
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DURA Automotive Systems, LLC Secures $77 Million in Financing to Pursue Expedited Restructuring & Going Concern Sale
October 21, 2019o implement this restructuring, the Company and its domestic subsidiaries have filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Middle District of Tennessee. DURA’s non-U.S. subsidiaries are not part of the Chapter 11 filing.
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Investors Bank Selects ODX Platform to Begin Digitizing Small Business Lending
October 21, 2019Investors Bancorp, Inc. (NASDAQ: ISBC) today announced that its banking subsidiary Investors Bank formed an alliance with ODX, a leading digital small business originations platform and a subsidiary of On Deck Capital, Inc. (NYSE: ONDK). Investors Bank will deploy ODX's digital loan origination platform in a phased approach to enhance its small business lending program in select areas of its banking network.
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Crestmark Provides More Than $30.4 Million in Commercial Financing to 96 Businesses in the First Half of October
October 21, 2019Crestmark secured a total of $5,100,000 in ABL financial solutions for six new clients; Crestmark Equipment Finance provided $4,048,244 in six new lease transactions; Crestmark Vendor Finance provided $8,025,138 in 81 new lease transactions; and the Government Guaranteed Lending Division provided $13,284,795 in financing for five new clients in the first half of October.
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North Mill Capital Announces Funding to Logistics Company
October 21, 2019The company provides maintenance, supply and warehouse chain management, transportation, IT and base operations support personnel primarily for the U.S. military.
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