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TSL Express Daily Articles & News
To submit company news and press releases to TSL Express, email tslexpress@sfnet.com.Today's Top Story
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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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TAB Bank Provides Organic Foods Company in Pennsylvania with a $5.5 Million Asset-Based Credit Facility
October 31, 2019TAB Bank is pleased to announce it has provided a $5.5 million asset-based revolving credit facility for an organic foods company located in Pennsylvania. The new facility is extended through a multi-year agreement and will provide for the company’s ongoing working capital needs.
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BFS Appoints Carol Apicella Senior Vice President and Business Development Officer
October 31, 2019Bibby Financial Services is delighted to announce a new addition to our team, Carol Bader Apicella. Ms. Apicella joined our team in mid-October as a Senior Vice President and Business Development Officer. We look forward to the expert insight Ms. Apicella will bring to BFS.
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Next Edge Capital Corp. Closes Credit Facility For $47,500,000 From CIBC
October 31, 2019Next Edge Capital Corp. (“Next Edge Capital”) is pleased to announce the closing of a revolving credit facility for $47,500,000 USD with CIBC1 and NELI Canada LP2, a special purpose funding vehicle utilized by the Next Edge Private Debt Fund (the “Fund”).
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Greypoint Capital Adds Jeffrey Weber To Management Team
October 31, 2019Greypoint Capital Inc. ("Greypoint" and/or "Company"), a Canadian alternative lender for middle market companies, is pleased to announce that Jeffrey Weber has recently joined the Company as Senior Vice President.
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Ropes & Gray Names 16 New Partners
October 31, 2019Global law firm Ropes & Gray announced today that 16 attorneys have been named partners of the firm, and that eight attorneys have been named counsel, all effective November 1. With these partner promotions—9 women and 7 men—30% of Ropes & Gray's partners are women. The largest geographic concentration of new partners is in New York, where the firm has more than 400 lawyers.
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Olympia Sports Selects SB360 Capital Partners As Exclusive Agent to Conduct Closing Sale for 76 Stores
October 31, 2019Olympia Sports, the prominent Maine based athletic footwear and apparel chain, has selected SB360 Capital Partners LLC (www.sb360.com), as their exclusive agent to conduct “Store Closing” sales in 76 stores. Olympia, which was recently acquired by sports retailer JackRabbit, will continue to operate its remaining 75 stores under the Olympia Sports’ banner. The 76 closing stores were not part of the acquisition.
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SG Credit Partners Provides $2 Million Second Lien Cash Flow Loan Secured By Real Estate
October 31, 2019SGCP provided a $2 million second lien cash flow loan to the Company secured by a second deed of trust on the corporate real estate which enabled the Company to execute on its new contracts and grow the business.
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Ribbon Raises $30 Million Series B and $300 Million in Debt to Expand its Home Buying Platform
October 30, 2019Ribbon announced today it has raised $330 million in equity and debt financing, to facilitate the company's expansion into new markets, and accelerate product development efforts. The company, which helps consumers more easily and efficiently buy homes, closed a $30 million Series B round of funding led by Greylock, and secured a debt facility with Goldman Sachs that, in addition to a previous facility, provides current financing capacity to $300M upon closing and may be increased by an additional $220M,
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Anand Ramachandran Joins Regions Bank Corporate and Institutional Markets Group as a Managing Director
October 30, 2019Regions Bank today announced that Anand Ramachandran has joined the firm as a Managing Director, reporting to Robert Heffes, Managing Director and Head of Trading and Credit Distribution and CEO of Regions Securities LLC.
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New Cape Ann YMCA to be Built with $15 Million in New Markets Tax Credits from TD Community Development Corporation
October 30, 2019Gloucester, Massachusetts, residents can look forward to having more opportunities for a better life with the recent groundbreaking on a new Cape Ann YMCA facility. The new YMCA, operated by the YMCA of the North Shore, Inc., will provide affordable access to health and child care programs along with new jobs in the community.
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A&G Hires Jeffrey K. Hoffmann to Lead its Restaurant Real Estate Division
October 30, 2019Jeffrey K. Hoffmann, a veteran banking executive who has provided strategic advice and capital solutions to operators of some of the biggest restaurant brands in North America, has joined A&G Real Estate Partners as a Senior Managing Director and head of the firm’s fast-growing restaurant division.
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Aura Secures $130 Million Credit Facility from Varadero Capital
October 30, 2019Aura, a mission-driven financial technology company that offers affordable loans to hard-working families, today announced it has closed a $130 million asset-backed revolving credit facility with Varadero Capital, L.P. This new facility comes during a period of rapid growth for Aura in which the company has provided approximately $635 million in loans to more than 475,000 borrowers at over 1,250 partner locations since its founding in 2014.
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US Capital Global Provides €10MM Bridge Financing for MIRIS ahead of €100MM Growth Equity Facility
October 30, 2019US Capital Global has structured and provided a €10 million bridge loan for MIRIS AS, a technology-driven real estate development company that enables sustainable solutions for Smart Communities. The company has five construction projects planned, including the world’s first energy-positive hotel, named Svart Hotel. This is a bridge facility ahead of a €100 million growth equity program.
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Amerisource Closes $1,000,000 Credit Facility for Specialty Manufacturing Company
October 30, 2019Amerisource Business Capital announced the closing and funding of a $1,000,000 senior credit facility for a component parts manufacturer based in New York. Proceeds of the facility are being used to support working capital and sales growth.
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Patrick Donnelly Joins People’s United Bank’s Nonprofit Specialty Finance Group as Senior Vice President
October 30, 2019People’s United Bank, N.A. (NASDAQ: PBCT), today announced that Patrick Donnelly has been appointed Senior Vice President, Nonprofit Banking. Donnelly will be based at the Bank’s 250 Park Avenue, New York City location, and be responsible for strategy development, sales and relationship management covering New York, New Jersey and the Philadelphia metro-area.
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Briar Capital Closes a $9.5MM Real Estate Loan for an Oilfield Service Provider
October 30, 2019Briar Capital Real Estate Fund ("BCREF") (www.BriarCapital.com) is pleased to announce it has provided a $9.5MM real estate term loan to an Oilfield Service Provider in Houston, TX.
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FSW Funding Provides $5.0M Facility to Ammunition Manufacturer
October 30, 2019FSW Funding (“FSW”) is pleased to announce the completion of a $5.0 million financing facility to a Rocky Mountain-based ammunition designer, manufacturer, and marketer (the “Client”) for products in the sporting goods industry.
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Wintrust Receivables Finance Announced Closing of a New $20 Million Line to Support Growing Third Party Logistics Provider
October 30, 2019Wintrust Receivables Finance announced today the closing and funding of a $20 million credit facility for a third party logistics provider based in Chicago. The company, which was founded two years ago, has become one of the fastest growing enterprises in the U.S. logistics industry.
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Cushman & Wakefield Hires Top Debt Capital Markets Team
October 30, 2019Cushman & Wakefield (NYSE: CWK) has further strengthened its Capital Markets team in Chicago with the additions of Jeff Altenau as Executive Managing Director and Zach Yarnoff as Managing Director. Both come to Cushman & Wakefield from Eastdil Secured, where they worked on several notable transactions.
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Freshfields Hires Cleary Team Led by M&A Rainmaker Klingsberg
October 30, 2019Freshfields Bruckhaus Deringer LLP has hired a team of corporate lawyers from Cleary Gottlieb Steen & Hamilton LLP, led by prolific dealmaker Ethan Klingsberg, as it seeks to make new inroads in the U.S. mergers and acquisitions (M&A) market. Klingsberg, whose clients include retailer Lowe’s Companies Inc, telecommunications giant Verizon Communications Inc and Google owner Alphabet Inc, will lead Freshfields’ U.S. M&A practice, the firm said in a statement on Friday.
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