- Parafin Expands Warehouse Credit Facility With Silicon Valley Bank, EverBank, and Trinity Capital
- Amerisource Business Capital Provides $2 Million Working Capital Facility to Texas-Based Industrial Services Company
- Apotheo Capital Launches to Deliver Integrated Capital and Financial Advisory Solutions for Complex Situations
- Stellus Capital Management, LLC Provides Unitranche Financing in Support of Catchment Capital's Investment in Vertech Industrial Systems
- April Commercial Chapter 11 Bankruptcy Filings Increase 42% From Previous Year
TSL Express Daily Articles & News
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Huntington Bancshares And TCF Financial Corporation Announce Merger To Create Top 10 U.S. Regional Bank
Huntington Bancshares Incorporated ("Huntington") (Nasdaq: HBAN; www.huntington.com), the parent company of The Huntington National Bank, and TCF Financial Corporation ("TCF") (Nasdaq: TCF; www.tcfbank.com), the parent company of TCF National Bank, today announced the signing of a definitive agreement under which the companies will combine in an all-stock merger with a total market value of approximately $22 billion to create a top 10 U.S. regional bank with dual headquarters in Detroit, Michigan and Columbus, Ohio.
Goldman Sachs & Co. LLC is serving as financial advisor to Huntington. Wachtell, Lipton, Rosen & Katz is serving as legal advisor to Huntington.
Keefe, Bruyette & Woods, a Stifel Company, is serving as financial advisor to TCF. Simpson Thacher & Bartlett LLP is serving as legal advisor to TCF.
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TSL Express Daily Headlines & News
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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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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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ING Leads Syndicated Financing of $300 Million for Gerald Group
October 8, 2019ING Capital LLC ("ING") led a US$300 million syndicated financing on behalf of GT Commodities LLC ("GTC" / "Company"), the North American trading hub for Gerald Group, the world's largest employee owned metals merchant. The deal closed on October 4, 2019. ING, as Administrative Agent, structured and arranged this inaugural revolving credit facility. Deutsche Bank and Rabobank acted as Joint Lead Arrangers.
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LBC Supports Investment in Arizona Shower Doors, LLC
October 8, 2019LBC Credit Partners announced an increase in the DreamLine senior secured credit facilities to support an investment in Arizona Shower Doors, LLC ("Arizona"). DreamLine is a portfolio company of MPE Partners.
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Citizens Commercial Bank Combats Hackers In Cybersecurity Awareness Month
October 8, 2019According to the FBI’s Internet Crime Report, losses from Business Email Compromise (BEC) scams amounted to $1.3 billion in 2018 — twice the losses in 2017. Over the 12 months ending in July, more than 6,000 organizations were targeted each month by BEC scams, according to cybersecurity software firm Symantec.
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Abacus Finance Provides $48 Million in Senior Debt Financing to Support the Recapitalization of Receivable Solutions, LLC by WestView Capital Partners
October 8, 2019Abacus Finance Group, LLC, a leading provider of cash flow-based, classic senior debt for sponsor-led buyouts of companies with $3 million to $15 million in EBITDA, today announced that it served as Administrative Agent and Co-Lead Arranger for $48 million in senior secured credit facilities to support the recapitalization of Receivable Solutions, LLC by WestView Capital Partners. Abacus also made an equity co-investment in Receivable Solutions.
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Garrington Group of Companies Introduces IconiQ Finance
October 7, 2019The Garrington Group of Companies (“Garrington”) is pleased to announce the launch of IconiQ Finance (“IconiQ”).
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Garrington Group of Companies Introduces Blacksail Capital Partners
October 7, 2019Blacksail operates in both Canada and the United States, with key representation in the USA spearheaded by James Franz and in Canada by John Levac. Both have a strong history of success in the Asset Based Lending industry with a specific focus on deals ranging from $1-30 million in size.
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Garrington Group of Companies Finalizes Purchase of the assets of Liquid Capital Corporation
October 7, 2019The Garrington Group of Companies (Garrington) are pleased to announce the purchase of the assets of Liquid Capital Corp. via the Garrington subsidiary Liquid Capital Enterprises (Liquid Capital.)
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Refinitiv LPC: 3Q19 US M&A Loan Volume Down 28% Y-o-Y; I-Grade M&A Lowest Since 1Q17
October 7, 2019At less than US$112bn, 3Q19 US M&A loan volume marked the lowest quarterly result in two and a half years, bringing total issuance for the year to less than US$395bn. Quarter-over-quarter M&A lending via the loan market has been eroding since 3Q18. Issuance for the first nine months of 2019 was down nearly 15% compared to the year-ago period.
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