TSL Express Daily Articles & News
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First Citizens BancShares, Inc. and CIT Group Inc. Announce Transformational Partnership to Create a Top-Performing Commercial Bank
First Citizens BancShares, Inc. (NASDAQ: FCNCA) (“First Citizens”), the parent company of First-Citizens Bank & Trust Company, and CIT Group Inc. (NYSE: CIT) (“CIT”), the parent company of CIT Bank, N.A., jointly announced today that they have entered into a definitive agreement under which the companies will combine in an all-stock merger of equals to create the 19th largest bank in the United States based on assets.
It brings together complementary strengths with First Citizens’ low-cost retail deposit franchise and full suite of banking products and CIT’s national commercial lending franchise and strong market positions.
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Bank of Southern California Names Joel Ewan Senior Vice President, Credit Administration
August 12, 2019In this newly created role, he will be responsible for managing, implementing, and evaluating credit policy initiatives as well as analyzing and structuring commercial credit for clients across multiple industry sectors.
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Tenet Announces Private Offering of Senior Secured Notes to Refinance $4.2 Billion in Outstanding Notes
August 12, 2019Tenet Healthcare Corporation (THC) intends to refinance up to $4.2 billion of its currently outstanding notes by a private placement offering of $4.2 billion in aggregate principal amount of newly issued senior secured first lien notes in tranches maturing in 2026 and 2027 (the “notes”). Completion of the offering is subject to, among other things, pricing and market conditions.
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MidCap Business Credit Closes on a $5,500,000 Asset Based Credit Facility
August 12, 2019MidCap Business Credit announced today they have closed on a $5,500,000 Asset Based Credit Facility for Mitchell Rubber Products, LLC.
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Jim Peko to Lead Grant Thornton’s National Advisory Services Practice
August 12, 2019Grant Thornton LLP has named Jim Peko as the national managing principal of its Advisory Services practice. In this role, he will oversee the strategic direction and operations of the firm’s advisory-services offerings.
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First Business Capital Corp. Announces Closed Deal
August 12, 2019Peter Lowney, President of First Business Capital Corp., announced a recently closed and funded $6,100,000 credit facility including a revolving line of credit, equipment term loan, and a real estate term loan for a commercial door manufacturer company located in Wisconsin.
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Amerisource Closes $5,000,000 Credit Facility for Specialty Manufacturing Company
August 12, 2019Amerisource Business Capital announced the closing and funding of a $5,000,000 credit facility for a manufacturing company based in Texas which supports the LNG industry. Proceeds of the facility were used to refinance the Company’s existing bank revolver and term facility and for additional growth capital.
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Universal mCloud Closes C$13 Million Secured Debt Financing
August 12, 2019Universal mCloud Corp. (MCLD.V) (MCLDF) ("mCloud" or the "Company"), a leading provider of asset management solutions combining IoT, cloud computing, artificial intelligence ("AI") and analytics, is pleased to announce it has entered into a credit facility with Integrated Private Debt Fund VI LP in the amount of C$13,000,000
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Sallyport Commercial Finance Arranges a Credit Facility to an Industrial Machining Company in the Pacific Northwest
August 8, 2019Sallyport Commercial Finance extends a $1,000,000 Accounts Receivable facility to an industrial machining company targeting the aerospace and commercial sectors in the Pacific Northwest.
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Access Capital Provides $1.5 Million Credit Facility to JCW Search, Inc.
August 8, 2019JCW Search, Inc. (“JCW”) was originally formed in 2007 by CEO Jamie Woods in London, launching an operation in NYC in 2012 as its first foray into the USA market. The company has been substantially investing in its growth in Europe and the US as well with additional locations in Frankfurt, Austin, TX and Los Angeles, CA.
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SB360 and Hilco to Conduct Going Out of Business Sales at All 54 A’Gaci Stores
August 8, 2019A’GACI, an innovator in the fast fashion apparel industry since 1971, is closing all 54 stores in the US and Puerto Rico. A’GACI filed for Chapter 11 Bankruptcy protection this morning and retained a joint venture of SB360 Capital Partners (www.sb360.com) and Hilco Merchant Resources (www.hilcomerchantresources.com) to liquidate the stores. “Going Out of Business” Sales begin today in all A’GACI locations.
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Northwest Names Reitzes Executive Vice President, Head of Commercial Banking
August 8, 2019Mark T. Reitzes has been named Executive Vice President and Head of Commercial Banking for Northwest Bank, according to Ronald J. Seiffert, Northwest Chairman, President and CEO.
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Trakopolis Provides Update on Credit Facility Amendment with ESW Holdings
August 8, 2019Trakopolis IoT Corp. (TSXV: TRAK) ("Trakopolis" or the "Company") wishes to provide an update on certain provisions contained in the agreement with ESW Holdings, Inc. ("ESW") amending its US$3.0 million senior secured credit facility (the "Amending Agreement"), as previously announced on August 2, 2019.
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Aquilini Gameco Inc. Announces C$20 Million Secured Loan
August 8, 2019J55 Capital Corp. (“J55” or the “Company”) (FIVE-P.V) is pleased to announce that its qualifying transaction target, Aquilini GameCo Inc. (“GameCo”), has executed a secured senior loan agreement with an arm’s length third party (“Lender”) pursuant to which the Lender has agreed to loan up to C$20 million to GameCo.
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Pacific Western Bank Enhances and Expands Venture Banking Group
August 8, 2019Pacific Western Bank is pleased to announce the addition of seven experienced venture banking team members to broaden its coverage of the venture capital community.
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Business Capital Delivers Financing for Leading Eco-Friendly Packaging Company
August 7, 2019Business Capital (BizCap) structured and delivered a multi-tranche credit facility, inclusive of an equipment term loan, for Everett Graphics, Inc. (EGI) and a revolving line of credit for its subsidiary, Tahoe Paperboard, which supplies EGI and other packing companies with custom sheeted paperboard.
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Mendy Piekarski Joins Thompson Hine’s New York Business Litigation Practice
August 7, 2019Piekarski’s legal practice includes federal and state court litigation and arbitration involving complex breach of contract, shareholder and securities litigation, class action defense, business torts, fraud, internal investigations, copyright and trademark, and SEC and FINRA investigations.
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Continental Business Credit Provides $750,000 Asset-based Lending Facility to a Fast-growing Manufacturer and Distributor of Nutritional and Supplement Powders and Beverages
August 7, 2019The accounts receivable and inventory facility will be used to provide additional working capital to support its sales and marketing plan.
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US Capital Global Provides $8 Million Financing for Pioneering MedTech Company Medical Testing
August 7, 2019Headquartered in San Francisco, US Capital Global provides sophisticated debt, equity, and investment products to lower middle market companies and investors.
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Magnolia Financial Announces Recent Funding for two Southeast-based Companies
August 7, 2019The funding consisted of a $750,000 revolving line of credit to company that serves property managers in making vacant rental housing ready for new tenants and a $1,500,000 line of credit to an emerging manufacturer of medical devices.
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Barneys New York Secures Approximately $218 Million in New Financing from Brigade Capital Management and B. Riley Financial Following a Competition to Provide Fresh Capital
August 7, 2019This new agreement, which materialized earlier in the day, replaces the previously announced $75 million agreement with affiliates of Hilco Global and the Gordon Brothers Group and will refinance all of Barneys New York's existing secured indebtedness.
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