- Hilco Global Seeks Offers to Acquire Non-Core Patent Portfolio of Locus Fermentation Solutions
- SFNet Market Pulse
- CB&I Upsizes Credit Facility
- Dwight Funding Announces Select Credit Facilities for Growth-Stage Consumer Brands-$4M
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White Oak Commercial Finance Bolsters its ABL & Lender Finance Team with Three Senior BDO Hires
White Oak Commercial Finance ("White Oak") is pleased to announce the addition of three senior business development officers to its ABL and Lender Finance platform. Garrick Tan, Fridolf Hanson and Bill Kearney will join five members of the existing Originations team and will focus on sourcing transactions with committed capital needs ranging from $15 to $250 million.
Garrick Tan joins the team as a Managing Director and Business Development Officer based in Boston with coverage responsibilities for the New England region. Fridolf Hanson will serve as a Managing Director and Business Development officer for the Northeast Region and will be based in New York. Bill Kearney will join White Oak as a Managing Director and Business Development Officer.
Garrick Tan joins the team as a Managing Director and Business Development Officer based in Boston with coverage responsibilities for the New England region. Fridolf Hanson will serve as a Managing Director and Business Development officer for the Northeast Region and will be based in New York. Bill Kearney will join White Oak as a Managing Director and Business Development Officer.
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TSL Express Daily Headlines & News
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Sallyport Commercial Finance Supports Growing Technology Company
February 3, 2020Sallyport Commercial Finance arranges a $1,000,000 accounts receivable facility to a leading, hi-tech camera supplier in the perimeter surveillance industry.
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CIT Launches HOA Premium Reserve Solution for Community Associations
February 3, 2020CIT Group Inc. (NYSE: CIT) today announced its newly-acquired Community Association Banking division is launching a new suite of premium reserve accounts for homeowner association deposits. These accounts offer competitive returns and the backing of a surety bond for balances over $250,000 for community associations, and the convenience and efficiency of having both operating accounts and reserve accounts at one bank for community managers.
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Assets of Plastic Sheet Extrusion and Thermoforming Plant Up for Bid
February 3, 2020Tiger Group to sell equipment surplus to ongoing operations of D&W Fine Pack in February 6 live online webcast auction of all assets from the San Bernardino, CA facility.
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Access Capital Provides $1 Million Credit Facility To Government IT Consulting and Staffing Firm
February 3, 2020Access Capital structured an asset-based lending facility for Universal once it became evident that the company’s banking relationship was no longer meeting its needs. Access Capital will be supporting UNIVERSAL’s growth with a $1 million line of credit.
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Versant Funding LLC Funds a Non-recourse Factoring Facility to a Manufacturer and Distributor
February 3, 2020Versant Funding LLC is pleased to announce it has funded a $2,000,000 non-recourse factoring facility to a manufacturer and distributor which serves major commercial airlines. The business needed additional working capital to fund its expansion and their senior lender agreed to subordinate its lien on accounts receivables due from only a single customer to allow the business to raise cash.
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Postal Realty Trust Exercises $50 Million of Accordion Feature on Senior Revolving Credit Facility
February 3, 2020People’s United Bank led the bank group which also included BMO Capital Markets Corp. as syndication agent, and Bryn Mawr Trust, Stifel Nicolaus & Company and TriState Capital as participants.
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Cresco Labs Closes $100 Million Senior Secured Credit Facility
February 3, 2020Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco Labs” or the “Company”), one of the largest vertically integrated multistate cannabis operators in the United States, today announced that it has closed the recently announced non-brokered credit agreement (the “Credit Agreement”) for a senior secured term loan (the “Senior Loan”) in an initial aggregate principal amount of US$100 million, with a mutual option to increase the size of the facility to a maximum of US$200 million.
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B&W Announces Comprehensive Debt Refinancing Agreement as Financial Performance Improves
February 3, 2020Provides $200 million commitment to fully refinance existing revolving credit facility; provides an initial $30 million of working capital; provides new $30 million revolving credit facility in May 2020; new maturity date is January 2022; company expects fourth quarter 2019 results to significantly outperform the third quarter, with a return to positive GAAP consolidated operating income for the first time in 3 years.
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Stonebriar Commercial Finance Closes $30 Million Equipment Lease
February 3, 2020Stonebriar Commercial Finance (“SCF”) has closed an additional $30 million equipment lease facility with its existing customer, an industry-leading food processing company, to support the growth of a new innovative product line. SCF will provide interim financing during the construction term of this new production line, which is forecast to be fully completed by June 2020. When fully funded, SCF’s total outstanding for this key customer will exceed $70 million.
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North Mill Capital Provides $7 Million to Phoenix Textile Corporation
February 3, 2020Phoenix Textile is a distributor of textiles, sheets, linens and interiors to residential, hospitality, government institutions and healthcare facilities across the country. The family-owned and operated company has been in business since 1983 and is headquartered in Missouri.
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Celtic Capital Corporation Provides $1.4 Million for California-based Company
February 3, 2020Celtic Capital Corporation today announced its most recent new client relationship – a California-based company that sells fresh and frozen seafood to wholesale and retail customers.
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Atlantic Power Corporation Announces Amendment to Credit Facilities
February 3, 2020Atlantic Power Corporation (NYSE: AT) (TSX: ATP) ("Atlantic Power" or the "Company") announced that on January 31, 2020, it executed an amendment to its credit facilities, consisting of the $380 million senior secured term loan ("Term Loan") and the $200 million senior secured revolving credit facility ("Revolver"). Both the Term Loan and the Revolver are at the Company's APLP Holdings Limited Partnership ("APLP Holdings") subsidiary.
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Ultimate Finance Launches Structured Finance Proposition
February 3, 2020Specialist asset-based lender, Ultimate Finance, is today announcing the launch of its Structured Finance proposition providing a streamlined solution for UK businesses to release working capital and invest in their growth. Structured Finance from Ultimate Finance will enable introducers to connect their clients to tailored, multi-asset funding solutions of between £350k and £5 million against several assets simultaneously, such as unpaid invoices, plant and machinery, and property.
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Mount Logan Capital Inc. Renews Financing Facility
February 3, 2020Mount Logan Capital Inc. (NEO:MLC) (“Mount Logan” or the “Company”) is pleased to announce that it and its wholly-owned subsidiary Great Lakes Senior MLC I LLC (“MLC Subsidiary”) have entered into an amendment (the “First Amendment”) to its existing facility and security agreement (the “Facility Agreement”) with a subsidiary of Global Atlantic Financial Group, as initial lender, those persons who from time to time become lenders pursuant to the Facility Agreement (collectively, the “Lenders”), as lenders, and U.S. Bank National Association, as administrative agent, custodian, collateral agent and collateral administrator.
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TPG Specialty Lending, Inc. Increases and Extends Its Revolving Credit Facility
February 3, 2020The Facility was led by SunTrust Robinson Humphrey, JPMorgan Chase Bank, N.A. and MUFG Union Bank, N.A. as joint lead arrangers and includes a total of 20 bank participants. The accordion feature, which would allow the Company, under certain circumstances, to upsize the Facility has also increased from a maximum of $1.50 billion to $1.75 billion. Pricing and advance rates under the Facility remain unchanged.
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Finacity Arranges $105 Million Receivables Securitization for Black Box Corporation
February 3, 2020The securitization program comprises multiple tranches and allows up to $90 million in senior funding by Fifth Third Bank, National Association. In addition, Greensill has provided a $15 million subordinated facility to further enhance the company’s liquidity. The securitization program achieved accounting derecognition per both IFRS and US GAAP.
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Anthony Saitta Joins FTI Consulting to Lead Executive Compensation & Corporate Governance Practice
January 30, 2020FTI Consulting, Inc. (NYSE: FCN) today announced that Anthony Saitta has joined its Real Estate Solutions industry group as a Managing Director and will lead the Executive Compensation & Corporate Governance practice.
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Wintrust Financial Corporation Announces Executive Officer Promotions
January 30, 2020Edward J. Wehmer will become Founder and Chief Executive Officer. Wehmer currently serves as President and Chief Executive Officer. David A. Dykstra will become Vice Chairman, Chief Operating Officer, Wintrust Financial Corporation. Dykstra currently serves as Senior Executive Vice President, Chief Operating Officer.
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Gordon Brothers Announces Expanded Role for Managing Director
January 30, 2020Gordon Brothers, the global advisory, restructuring, and investment firm, announced the expansion of Managing Director Rick Wilichowski’s role to include oversight of the Valuations Division’s Equipment Finance, Asset Management, and Mobile Modular sales functions.
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Wings Capital Partners LLC Announces Closing of $125,000,000 Term Loan
January 30, 2020Wings Capital Partners LLC (“Wings”) announced the successful closing of a secured term loan collateralized by a 777-200LRF on lease to Korean Airlines. The three-tranche financing has a maturity coterminous with the lease tenor and was provided by a syndicate of financial institutions including Barings, Nord LB, Bayern LB, and Investec.
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