- Salem Five Bank Extends $6 Million Credit Facility to Arocam Sports
- Monroe Capital Supports Growth of Recognize Partners’ SDG Corporation
- Polestar Secures New Term Loan Facility of Up To USD 600 Million
- Pathlight Capital Closes Fourth ABL Credit Fund and Second Evergreen Tranche With $1.9 Billion of Commitments
- LA Times Studios Recognizes CohnReznick’s Rodriguez as Commercial Real Estate Visionary
TSL Express Daily Articles & News
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Ascena Retail Group Signs Asset Purchase Agreement with Sycamore Partners
Ascena retail group, inc. (OTCMKTS: ASNAQ) and certain of its subsidiaries (collectively, “ascena” or the “Company”) today announced that it has entered into an asset purchase agreement (“APA”) with Premium Apparel LLC, an affiliate of Sycamore Partners, a private equity firm specializing in consumer, retail and distribution investments, to sell ascena’s Ann Taylor, LOFT, Lane Bryant and Lou & Grey brands. Premium Apparel will acquire the brand assets for a purchase price of $540 million, on a cash-free and debt-free basis, subject to certain adjustments, and the assumption of certain liabilities. Under the APA, Premium Apparel has committed to retaining a substantial portion of the retail stores and associates affiliated with these brands.
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TSL Express Daily Headlines & News
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Monroe Capital Supports Alpine Investors’ TEAM Services Group
October 15, 2019Monroe Capital LLC today announced it acted as administrative agent and joint lead arranger on the funding of a senior credit facility to support TEAM Services Group’s partnership with AmeriBest Home Care, Inc.
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BHI Appoints Oleg Kochanov to Lead Independent Underwriting Team
October 15, 2019New underwriting team will support BHI’s continued growth.
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Coral Capital Solutions Extends $1.2 Million Factoring Facility to Fast Growing Food Distributor
October 15, 2019Coral Capital Solutions, a leading provider of financing solutions for businesses, today announced a $1.2 million annual factoring facility with a fast growing startup distributor of natural frozen hand-held pies.
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CoMetrics Partners LLC Appoints John La Lota as Managing Director
October 14, 2019Most recently John was the President of the Commercial Services division of Sterling National Bank where he led specialty lending teams in a highly regulated banking environment. Under John’s 20 year leadership, Sterling grew to one of the largest factoring companies in the United States.
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Corporate Energy Lawyer Michael Freeman Joins Haynes and Boone as Partner
October 14, 2019Freeman handles a broad array of matters in the middle-market energy sector, including mergers and acquisitions, divestitures, securities offerings and other entity governance and commercial transactions. He primarily advises private equity-sponsored midstream and upstream energy ventures.
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Keyword Studios Secures up to €140m Credit Facility
October 14, 2019The new financial facility is provided by Barclays Bank, Citibank N.A., HSBC and Silicon Valley Bank for an initial €100m over a three-year term, with the option to extend the facility up to €140m and by a further two years, the company said.
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Gateway First Bank Names Peter Moenickheim as New Chief Risk Officer
October 14, 2019In this role, Moenickheim will provide executive oversight to the company’s credit and risk management teams. His responsibilities will span all efforts in enterprise risk management, compliance and quantitative analytics.
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Alternative Credit Scoring Fintech CredoLab Partners With iovation to Fight Credit Fraud
October 14, 2019CredoLab, a Singapore-based developer of bank-grade digital credit scorecards based on anonymous smartphone metadata, has partnered with iovation, a TransUnion company, specializing in device-based fraud detection and authentication solutions.
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North Mill Capital LLC Announces Facility
October 14, 2019North Mill Capital LLC announced it has provided a $3,500,000 accounts receivable credit facility for Innominds Software, Inc., based in San Jose, California. The funds were used to pay off the previous lender and provide working capital for the company.
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ALL Forever 21 Canada Stores are Closing; Liquidation Sale Begins Tuesday, October 8
October 14, 2019Gordon Brothers and Hilco Global announced that they will be operating liquidation sales beginning October 8, 2019 at all Forever 21 stores throughout Canada. This announcement comes after Forever XXI ULC (“Forever 21 Canada”) obtained an Order from the Ontario Superior Court of Justice on Monday October 7, 2019 approving a process to liquidate all locations. A full listing of closing locations can be found here.
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Patricia Sutter Named Head of Wells Fargo Corporate Trust Services
October 14, 2019Wells Fargo & Company (NYSE: WFC) announced today that Patricia Sutter, an industry and Wells Fargo veteran, has been named head of Wells Fargo Corporate Trust Services (CTS), effective October 15. Sutter will remain based in Chicago and report to David Marks, head of Wells Fargo Commercial Capital (WFCC). She replaces Troy Kilpatrick, who has led CTS since 2014 and is moving into a new leadership role supporting Wells Fargo's risk transformation work.
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Capitala Group Announces the Hiring of Harrison Pate and the Promotion of Kevin Roberts
October 14, 2019Capitala Group, a provider of capital to lower middle-market companies, is pleased to announce the addition of Harrison Pate to the Capitala team and the promotion of Kevin Roberts to Senior Associate.
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Ferroglobe Announces Closing of $100 Million Asset-Based Revolving Credit Facility
October 14, 2019Ferroglobe PLC (GSM) (“Ferroglobe” or the “Company”) today announced the closing of a new, five-year $100 million North American asset-based revolving credit facility (the “ABL Revolver”), between Globe Specialty Metals, Inc. (“Globe”) and QSIP Canada ULC, each a subsidiary of the Company, as borrowers and PNC Bank, National Association (“PNC”), as lender and agent.
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BBVA Inland Empire Market Announces David Galvez as its new Commercial Banking Relationship Manager
October 10, 2019BBVA USA has announced that it has hired David Galvez as its new Commercial Banking Relationship Manager, continuing its growth in the Inland Empire market less than a year after naming new leadership.
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CIT Names Bob McElyea to Lead Merchant and Card Initiative in Treasury and Payment Services
October 10, 2019CIT Group Inc. (NYSE: CIT) today announced that Bob McElyea has joined the company as managing director leading CIT's Merchant and Card Initiative in the Treasury and Payment Services group. In this role, McElyea will lead the transformation of payment services for CIT's clients across all segments.
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Goodman Factors is now Goodman Capital Finance
October 10, 2019Goodman Factors, a name that for nearly 50 years has been tantamount to reputable and innovative factoring service to businesses nationwide, is changing. Goodman Factors is now Goodman Capital Finance, a name that better reflects its new and broader product offering.
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MediPharm Labs Closes New $38.7 Million Upsized Credit Facility with a Top 5 Canadian Schedule 1 Bank to Support Growth
October 10, 2019MediPharm Labs Corp. (TSX: LABS) (OTCQX: MEDIF) (FSE: MLZ) (“MediPharm Labs” or the “Company”) a global leader in specialized, research-driven cannabis extraction, distillation, purification and cannabinoid isolation, is pleased to announce its wholly-owned subsidiary, MediPharm Labs Inc. (“MediPharm”) has closed a credit agreement (the “Credit Facility”) with a top 5 Canadian Schedule 1 bank (the “Bank”) for an aggregate $38.7 million.
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Industry Veteran Chris Lehnes Joins Versant Funding LLC
October 10, 2019Versant Funding LLC is pleased to announce that industry veteran, Chris Lehnes, is returning to his role of Business Development Officer based in Fairfield County, CT. Lehnes will be responsible for originating non-recourse accounts receivable factoring facilities from $100,000 to $10 Million per month to businesses across the country in a wide range of industries including oil and gas, apparel, manufacturing, distribution, and staffing which do not meet the credit standards of traditional lenders, often including businesses that are unable to obtain financing from other factoring companies.
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Cathy Osborne Joins Accord Financial as Senior Vice President, Human Resources
October 10, 2019Accord Financial Corp. ("Accord") (TSX: ACD), one of North America’s leading commercial finance companies, has created a new executive leadership position, hiring Cathy Osborne as Senior Vice President, Human Resources.
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CIT Serves as Lead Arranger for $87 Million Financing of Self-Storage Portfolio
October 10, 2019CIT Group Inc. (NYSE: CIT) today announced that its Real Estate Finance unit served as lead arranger on $87 million in financing for a portfolio of Storage Rentals of America-branded self-storage facilities.
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