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Northpoint Commercial Finance Expands Product Offering with Launch of Asset Based Lending
Northpoint Commercial Finance (“Northpoint”), a North American diversified financial services company, has broadened its financing solutions to include asset-based lending for U.S.-based middle-market companies. Northpoint is a market leader in inventory financing to manufacturers and dealers across the United States and Canada.
Northpoint will offer senior secured revolving credit lines and term loans ranging in size from $2 million to $20 million to borrowers across a wide range of industries. Industry veteran Robert Wagner, Northpoint General Manager and Head of Asset-Based Lending, will lead a team of seasoned ABL professionals.
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TSL Express Daily Headlines & News
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TD Bank Provides Growth Capital to Betteridge Jewelers Group
September 17, 2019TD Bank, America's Most Convenient Bank®, announced it acted as sole lead arranger on the funding of a $20 million revolving line of credit for Betteridge Jewelers Group. The company will use the proceeds to refinance an existing revolver and for additional growth capital.
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Sallyport Commercial Finance Delivers Finance Solution to Canadian Logistic Company
September 16, 2019Sallyport Commercial Finance supplies a $1,000,000 accounts receivable facility and small cash flow loan to a company that provides customized delivery solutions for retail companies.
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Crescent European Specialty Lending Announces Unitranche Financing & Equity Co-Investment for Acquisition of SRL Traffic Systems by LDC
September 16, 2019Crescent Capital Group LP, a leading alternative credit investment firm, announced today that its European Specialty Lending strategy has provided unitranche financing and an equity co-investment to support the acquisition of SRL Traffic Systems (“SRL”) by LDC, the U.K.-based private equity arm of Lloyds Banking Group. Terms of the financing were not disclosed.
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Purdue Pharma, Accused Of Fueling Opioid Crisis, Files For Chapter 11
September 16, 2019Purdue Pharma, the maker of OxyContin, filed for Chapter 11 bankruptcy protection Sunday night, just days after striking a settlement with more than 2,000 local governments over its alleged role in creating and sustaining the deadly opioid crisis.
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First Business Capital Corp. Announces Closed Asset-Based Lending Deal for Growth
September 16, 2019Peter Lowney, President of First Business Capital Corp., announced a recently closed and funded $7,500,000 revolving line of credit facility for a distributor of ceiling fans and lighting in Tennessee.
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Corporate and Investment Management Lawyer Matthew Bromberg Joins Dorsey in New York
September 16, 2019International law firm Dorsey & Whitney LLP is pleased to announce that Matthew (Matt) Bromberg has joined the Firm as a Partner in the Corporate Group in its New York office.
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Jon Donnel Joins B. Riley's Great American Group as Managing Director, Oilfield Services
September 16, 2019B. Riley Financial, Inc. (NASDAQ:RILY), a diversified financial services company, today announced that Jon Donnel has joined its Great American Group Advisory and Valuation Services, LLC subsidiary (“Great American”) as Managing Director of Oilfield Services based in Houston, Texas.
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Maverix Metals to Increase Credit Facility to US$120 Million
September 16, 2019Maverix Metals Inc. (the "Company" or "Maverix") (NYSE American: MMX, TSX: MMX) is pleased to announce that it has secured commitments to upsize its revolving credit facility to borrow up to US$120 million (the "Increased Facility").
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Deutsche Bank Joins JPMorgan’s Blockchain-based Interbank Information Network
September 16, 2019Deutsche Bank has joined banking rival JPMorgan's Interbank Information Network, a blockchain-based network comprised of over 60 banks, according to a Financial Times report.
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McGuireWoods Bolsters Global Finance Practice With Partners Lee Cullinane and Marc Naidoo
September 16, 2019McGuireWoods is expanding its formidable global banking and finance capabilities with the arrival of London partners Lee Cullinane, who will lead the firm’s Europe, Middle East and Africa (EMEA) finance group, and Marc Naidoo. Cullinane and Naidoo bring significant experience representing leading banks and other clients in cross-border and emerging markets transactions. They join McGuireWoods London from White & Case, where Cullinane formerly led the EMEA bank finance group.
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Amerisource Closes $500,000 Credit Facility for Fabrication Company
September 16, 2019Amerisource Business Capital announced the closing and funding of a $500,000 credit facility for a custom equipment fabrication company based in Texas. Proceeds of the facility are being used to support their working capital growth.
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North Mill Capital Announces Asset Based Revolving Line of Credit and aEquipment Term Loan Facility
September 16, 2019North Mill Capital is pleased to announce the funding of a $7,000,000 asset-based revolving line of credit and a $1,575,000 equipment term loan facility to Aerospace Manufacturing Group, Inc.
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Weatherford Announces Confirmation Of Plan Of Reorganization
September 16, 2019The United States Bankruptcy Court for the Southern District of Texas issued an order confirming Weatherford's Second Amended Joint Prepackaged Plan of Reorganization (the "Plan") of Weatherford International plc and its Affiliate Debtors under Chapter 11 of the United States Bankruptcy Code.
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Hana Financial Completes $56 Million SBA Securitization
September 16, 2019Hana Financial, Inc., one of the nation’s leading non-bank specialty commercial lenders, today announced that its SBA lending subsidiary, Hana Small Business Lending, Inc. has completed the issuance and sale of $56.2 million of asset-backed notes secured by the unguaranteed portion of a pool of loans originated pursuant to the U.S. Small Business Administration’s SBA 7(a) 504 loan program.
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Versant Funding Announces a new $1.1MM Factoring Facility
September 16, 2019The new client is in the medical technology industry, creating software solutions to improve health care.
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Ryman Hospitality Properties, Inc. Announces Pricing of $500 Million of Senior Notes Due 2027
September 16, 2019Ryman Hospitality Properties, Inc. (RHP) (the “Company”) announced today that RHP Hotel Properties, LP (the “Operating Partnership”) and RHP Finance Corporation (together with the Operating Partnership, the “Issuers”), its indirect wholly owned subsidiaries, priced the private placement of $500 million aggregate principal amount of 4.75% senior notes due 2027 (the “notes”).
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Neiman Marcus Secures $100 Million Facility to Increase Liquidity
September 16, 2019The luxury retailer plans to use proceeds from the facility, also known as a FILO, to reduce its revolving credit facility and create $100 million in liquidity the company can access in the future. Neiman Marcus Group Inc. completed a $100 million first-in-last-out facility that it will use to pay down the company’s revolver.
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Pacific Mercantile Bank Provides $4.5 Million in Financing to BTG Textiles
September 16, 2019Pacific Mercantile Bank (“the Bank”), the wholly owned subsidiary of Pacific Mercantile Bancorp (PMBC), today announced that it has provided a $4.5 million credit facility to BTG Textiles. In addition to the financing, BTG Textiles utilizes a full suite of Pacific Mercantile Bank’s depository products and treasury management services.
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Utica Leaseco and Utica Equipment Finance Announce Transactions
September 16, 2019Utica Leaseco and Utica Equipment Finance is pleased to announce the completion of five transactions totaling over $10,000,000 during the week of September 9-13, 2019.
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Fred’s Inc. Taps SB360 As Exclusive Consultant to Conduct Store Closing Sales in the Last Remaining 81 Fred’s Stores
September 12, 2019Fred’s Inc., a discount value retailer, has once again tapped SB360 Capital Partners as their exclusive consultant to conduct Store Closing Sales in all 81 remaining Fred’s locations. SB360 Capital Partners (www.sb360.com), one of North America’s leading asset disposition specialists, has closed 442 Fred’s locations since April of this year.
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