- Abry Private Debt Acquires $330 Million Private Credit Portfolio
- Eastern Bank Announces Leadership Appointment In Commercial Lending
- April Commercial Chapter 11 Bankruptcy Filings Increase 42% From Previous Year
- Jennifer Meyerowitz Joins KCP Advisory as Senior Managing Director and General Counsel
- Asset-Based Lending & Factoring Surveys
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CIT Northbridge Serves as Sole Lead Arranger on $20 Million Secured Credit Facility for Laurel Grocery
CIT Group Inc. (NYSE: CIT) today announced that CIT Northbridge Credit, as advised by CIT Asset Management LLC, served as sole lead arranger on a $20 million senior secured credit facility for Laurel Grocery Company LLC.
Headquartered in London, Kentucky, Laurel Grocery is a wholesale distributor of grocery products to more than 160 independent grocers in Georgia, Indiana, Kentucky, Ohio, Tennessee and West Virginia. The company, founded in 1922, also provides a range of business services, including accounting, insurance, merchandising, advertising and third-party warehousing and logistics.
Proceeds will be used to repay debt, finance growth initiatives and support ongoing operations.
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Tradewind Appoints Jose E. Roca as Senior Vice President
September 17, 2019Tradewind today announced that Jose Roca has joined the team as Senior Vice President in the firm’s New York office. Jose will be responsible for expanding the company’s sales base and program offerings.
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Axiom Bank, N.A. Hires Lisa Johanning As of VP, Consumer Loan Program Manager
September 17, 2019Axiom Bank N.A., a Maitland-based, leading community bank, recently welcomed Lisa Johanning as VP, Consumer Loan Program Manager. In this role, Johanning will oversee the development and introduction of new credit lines for retail customers.
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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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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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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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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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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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Why Partnerships Are the Future for Fintech
September 12, 2019As the finance industry grapples with what the next generation of banks and payment systems will look like, it’s clear that partnerships are a linchpin for riding the wave of change successfully, whether you’re a multibillion-dollar traditional bank or a startup looking to bring cutting-edge technology into the mainstream.
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Bill Fasel Joins Grant Thornton to Help Grow its Financial Advisory and Transformation Offerings
September 12, 2019Bill Fasel has joined Grant Thornton LLP as a managing director in the firm’s Strategic Solutions practice within Advisory Services. In this role, he will leverage the firm’s financial advisory and transformation capabilities to deliver turnaround and restructuring, operational improvement and transaction advisory services to underperforming and distressed companies and their creditors, lenders and other key constituents.
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