TSL Express Daily Articles & News
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Merchant Opportunities Fund Closes $27.5 Million BMO Credit Facility
The Merchant Opportunities Fund, a Vancouver-based diversified credit opportunities fund focused on prudently compounding capital over the long-term, today announced that it has closed a revolving debt facility with the Bank of Montreal ("BMO"). The facility consists of a $15 million funding commitment with a two-year term along with a $12.5 million accordion.
The Merchant Opportunities Fund invests in well-selected proprietary specialty finance portfolios, that in many cases consist of loans or advances that are originated, underwritten, and serviced by their primary originator, Merchant Growth. The BMO debt facility specifically provides funding for the Merchant Growth portfolio.
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Hedaya Capital Group Announces the Completion of a $500,000 Factoring Facility for a Startup Cosmetics Company
October 10, 2019The Hedaya Capital Group, Inc. is pleased to announce a $500,000 Factoring Facility for a beauty and cosmetics company based in New York. The company is a startup focused on the production and importation of Cosmetic Brush Sets, Nail Polish, Lip Gloss and Eyelashes.
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Stonebriar Commercial Finance Announces the Promotion of Kyle C. Parks to Executive Vice President
October 10, 2019Stonebriar Commercial Finance (“SCF”) is pleased to announce that Kyle C. Parks has been promoted to Executive Vice President and named part of the SCF Executive Management team. Kyle joined SCF in 2016 as Senior Vice President – Head of Direct Originations and currently manages SCF’s team of direct originators in the US and Canada.
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Cambridge Wilkinson Investment Banking Announces Transaction
October 10, 2019Cambridge Wilkinson recently arranged $25 million in equity for a multi-strategy real estate development firm focusing on workforce housing, ground up-development and tax credit-related estate transactions.
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B&G Foods Announces Closing of $450.0 Million Term Loan B Facility
October 10, 2019Barclays, Deutsche Bank Securities, RBC Capital Markets, BofA Securities, BMO Capital Markets, Goldman Sachs Bank USA and J.P. Morgan acted as joint lead arrangers and bookrunners, and Credit Suisse, Capital One, Citigroup, Citizens Bank, Rabobank and TD Securities acted as joint co-documentation agents.
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Provident Promotes Three to Retail Banking Leadership Team
October 9, 2019Provident Bank, a leading New Jersey-based financial institution, today announced the promotion of three executives. Robert Vivo has been promoted to Senior Vice President, Regional Director and Darleen Gillespie and Paula Palermo will now both serve as First Vice President, Regional Manager and report to Vivo.
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Wolters Kluwer’s Compliance Solutions Business Triumphs with Four Golden Bridge Awards
October 9, 2019Wolters Kluwer’s Compliance Solutions business has earned four 2019 Golden Bridge Awards for product innovations developed on behalf of financial services client firms. Compliance Solutions was honored with a Golden Bridge gold award for its CASH Workflow commercial lending solution, two silver awards for its OneSumX regulatory compliance offerings, and a bronze award for its Vanceo Mortgage automated loan operating system.
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CIT Provides $56 Million Financing for Multifamily Project Acquisition and Improvements
October 9, 2019CIT Group Inc. (NYSE: CIT) today announced that its Real Estate Finance division provided a $56 million senior secured mortgage loan for the acquisition and renovation of the Bel Air Las Colinas Apartments, a multifamily complex in Irving, Texas.
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J D Factors Announces Factoring Facilities
October 9, 2019JD Factors announced several factoring facilities.
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Halcón Announces Emergence from Chapter 11 and Appointment of New Chief Operating Officer
October 9, 2019Halcón Resources Corporation (“Halcón” or the “Company”) is pleased to announce that it has emerged from bankruptcy under Chapter 11 of the US Bankruptcy Code. By successfully completing its financial restructuring, the Company eliminated more than $750 million in debt and more than $40 million of annual interest expense, significantly enriching its financial condition.
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KB Home Announces Increase in Revolving Credit Facility to $800 Million and Extension of Maturity Date
October 9, 2019KB Home (NYSE: KBH) today announced it has completed an amendment to its revolving credit facility, increasing the borrowing capacity to $800 million from $500 million and extending the maturity date to October 2023 from July 2021. The borrowing capacity can be further increased to $1 billion, subject to additional lender commitments.
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Agera Energy, LLC Files Chapter 11 Protection, Enters Into Agreement to Sell Its Retail Assets to Constellation
October 9, 2019Agera Energy and its affiliates have filed for chapter 11 bankruptcy protection in the United States Bankruptcy Court, Southern District of New York and is facilitating an asset sale to Constellation, a subsidiary of Exelon Corporation (Nasdaq: EXC), subject to bankruptcy court approval.
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Horizon North Logistics Inc. Announces Amendment and Extension of Credit Facility
October 9, 2019Horizon North Logistics Inc. ("Horizon North" or the "Corporation") (TSX: HNL.TO) announced today that the Corporation recently reached an agreement with its lenders to amend its credit facility. Among other things, the amended agreement maintains the existing revolving commitment of $150 million.
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Ziv Biron Named CEO Of IDB Bank; Uri Levin Promoted To Lead Parent Company In Israel
October 8, 2019Biron currently serves as chief financial officer and Head of Planning Strategy and Finance Division at IDB’s Tel Aviv-based parent, Discount Bank. He succeeds Uri Levin, who has been promoted by Discount Bank’s Board of Directors to take on the position of CEO of Discount Bank in Israel.
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Access Capital Provides $1 Million Credit Facility To New Jersey-Based Staffing Firm
October 8, 2019Access Capital recently provided financing to HonorVet Technologies (“HonorVet), a Certified Service-Disabled-Veteran-Owned Small Business (SDVOSB). HonorVet provides the veteran community with employment opportunities in civilian workplaces in various industry verticals including information technology, light industrial, healthcare and telecommunications.
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OnDeck to Highlight Success of Women Small Business Owners; "How She Built This" Events Celebrate National Women's Small Business Month
October 8, 2019OnDeck (NYSE: ONDK), the leader in online lending to small business, today announced it will host events in New York and Denver this month featuring accomplished women entrepreneurs relating how they overcame challenges to build their small businesses. The "How She Built This" events are part of OnDeck's celebration of National Women's Small Business Month.
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36th Street Closes $6 Million Financing for Green Energy Company
October 8, 201936th Street Capital announced a recently funded a $6 million equipment financing for a leading energy services company that provides fuel cell solutions to commercial clients.
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Siena Lending Group LLC Announces the Closing of a New Revolving Credit Facility for Doodad Printing, LLC
October 8, 2019Siena Lending Group LLC (“Siena”) announces the completion of a new asset-based revolving credit facility for Doodad Printing, LLC (“Doodad”). The proceeds will be used to repay existing debt and provide the business with additional working capital to fund the company's operations and growth.
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Rosenthal Hires New VP/Account Exec to West Coast Team
October 8, 2019Rosenthal & Rosenthal, Inc., the leading independent factoring, asset-based lending and purchase order financing firm in the United States, today announced the appointment of Phillip Daks as VP Account Executive in the firm’s West Coast office.
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BFS' Global Business Monitor: Insights from SMBs in the US and Around the World
October 8, 2019This year’s research surveyed 2,300 small and medium-sized businesses across 13 countries: Canada, USA, Ireland, UK, Netherlands, Belgium, France, Germany, Poland, Czech Republic, Slovakia, Hong Kong and Singapore.
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Wintrust Financial Corporation Announces the Closing of the Acquisition of STC Capital Bank
October 8, 2019Wintrust Financial Corporation (“Wintrust”) (WTFC) today announced the completion of its previously announced acquisition of STC Bancshares Corp. (“STC”). STC is the parent company of STC Capital Bank, an Illinois state-chartered bank, which operates five banking offices located in the communities of St. Charles, Geneva and South Elgin, Illinois.
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