IDB Bank®, a New York-based private and commercial bank, announced that Ran Fuchs was named senior vice president and head of Capital Markets by IDB Capital, the broker-dealer subsidiary of IDB Bank.
Fuchs' role at IDB Capital follows years of financial and investment experience. With over a decade of experience teaming up with investors and their advisors, Fuchs has raised over $1 billion in equity capital for Equity REITs, Mortgage REITs, BDCs, REG-Ds, DST/1031s and other investments in that space where financial services and income-producing investments intersect.
TSL Express Trending Story
The transformation of retail is creating new and significant challenges for traditional retailers. Antony Karabus, CEO of HRC Advisory, explores those obstacles and offers solutions to help retailers survive – and even thrive — during these tumultuous times.
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CareerFlex, an Innovative Tech-Enabled Outplacement Service Launches Today
November 15, 2019The new cloud-based platform is specifically designed to offset traditional outplacement hurdles. Convenient, comprehensive, and cost effective, our technology prepares your displaced team members for their next chapter while helping you get the most out of your closing event.
Sandy Walia to Lead Branch Banking in Northern California and the Pacific Northwest
November 15, 2019Union Bank named Sandy Walia as Regional President for Northern California and the Pacific Northwest Branch Banking division. Walia will oversee a network of 111 branches and nearly 600 employees in the region. In addition, she will continue to serve as Managing Director and Head of Client Services for PurePoint Financial, which is a division of MUFG Union Bank.
SSG Advises Clarus Linen Systems in the Sale of its Assets and Operations to Multiple Buyers
November 15, 2019SSG Capital Advisors, LLC ("SSG") acted as the investment banker to Centerstone Linen Services, LLC d/b/a Clarus Linen Systems ("Clarus" or the "Company") in the sale of its assets and multiple operations to Crown Health Care Laundry Services ("Crown"), PureStar Linen Group, LLC ("PureStar"), and Clean Textile Systems, LP d/b/a CleanCare ("CleanCare"). The sales were effectuated through a Chapter 11 Section 363 process in the U.S. Bankruptcy Court for the Northern District of New York.
Allen Parker to Leave Wells Fargo to Pursue Other Business Opportunities
November 15, 2019Wells Fargo & Company today announced that General Counsel C. Allen Parker has made the decision to leave the company effective March 31, 2020, to pursue other business opportunities. Parker joined Wells Fargo as General Counsel in March 2017, served as interim CEO and President from March 2019 to October 2019, and then returned to the General Counsel role.
CIBC Innovation Banking Backs Madwire® with US$16 Million of New Financing
November 15, 2019CIBC Innovation Banking is pleased to announce two separate transactions totaling US$16 million for Madwire®, LLC, a Fort Collins, Colorado-based technology company which provides software and services to meet the business management and marketing needs for small-to-medium sized businesses (SMBs).
Abraxas Announces Debt Refinancing and New Borrowing Base, Ample Liquidity and Enhanced Balance Sheet Stability
November 15, 2019Abraxas Petroleum Corporation (“Abraxas” or the “Company”) (NASDAQ:AXAS) today announced it has entered into a $100 million Senior Secured Second Lien Term Loan Facility (“Second Loan Facility”) with Angelo Gordon Energy Servicer, LLC. Net proceeds from the financing are estimated to be approximately $95 million, all of which was used to pay down the Company’s revolving credit facility.
Michael Schechter Joins Ares Management Corporation as Head of Credit Trading
November 15, 2019Ares Management Corporation (NYSE: ARES) announced today that Michael Schechter has joined the firm as Partner and Head of Credit Trading. Based in Los Angeles, Mr. Schechter will oversee the trading of all bank loans, high yield and related credit instruments in the U.S. and Europe.
High Road Cap Sells Banner Solutions; Second Exit from Second Fund
November 15, 2019High Road Capital Partners (www.highroadcap.com) announced the sale of its portfolio company Banner Solutions (www.bannersolutions.com) to Tailwind Capital. The sale, which closed on October 31, 2019, marks the second exit for High Road Capital Partners Fund II.
Expedition Closes $100M Revolving Credit Facility to Support Ongoing Rockies-Focused Water Midstream Development
November 13, 2019Expedition Water Solutions ("Expedition"), the leading midstream produced water infrastructure company in the Rockies, announced today it has expanded its revolving credit facility to $100 million. Cadence Bank ("Cadence") served as lead arranger and administrative agent.
Bibby Financial Services Appoints Scot Barber as Regional Sales Manager - East
November 13, 2019Bibby Financial Services is delighted to announce a new addition to our team, Scot Barber. Mr. Barber joined our team in mid-October as our Regional Sales Manager - East. We are excited about the wealth of experience and dynamism in building partner relations that Mr. Barber brings to BFS.
Tradewind Announces $2.5 Million Credit Facility for Sustainable Homewares Company based in China and the USA
November 13, 2019Tradewind has closed a $2.5 million trade finance facility for a company based in China and the USA that sells sustainable, ecologically sourced, and manufactured homewares. The company exports to major retailers in the US including Amazon, Target, Kroger, and The Container Store, as well as to distributors in key international markets globally.
Rosenthal Provides $1 Million Purchase Order Finance Facility for International Women’s Footwear Designer
November 13, 2019Rosenthal & Rosenthal, Inc., the leading independent factoring, asset-based lending and purchase order financing firm in the United States, today announced the completion of a recent $1 million inventory production finance deal for a well-known designer and importer of women’s footwear.
Integer Announces Commitments to Reprice and Extend Maturity of its Revolving Credit Facility and Term Loan A; Launches Term Loan B Repricing
November 13, 2019Integer Holdings Corporation (NYSE:ITGR), a leading medical device outsource manufacturer, today announced that it has received commitments to extend the maturity for its existing Revolving Credit Facility and Term Loan A to October 2022, and reduce the respective pricing by 25 basis points.
LPL Financial Announces Completion of Leverage-Neutral Transaction Amending Senior Secured Credit Facilities and Offering Senior Unsecured Notes
November 13, 2019LPL Financial Holdings Inc. (NASDAQ: LPLA) (together with its subsidiaries, the “Company”) today announced that its wholly owned subsidiary, LPL Holdings, Inc. (“LPL Holdings”), has completed the previously announced amendment of its senior secured credit facilities and offering of senior unsecured notes (the “senior notes”).
Houghton Mifflin Harcourt Announces Proposed Private Offering of Senior Secured Notes
November 13, 2019Learning company Houghton Mifflin Harcourt ("HMH" or the "Company") (HMHC) announced today that its wholly owned subsidiaries, Houghton Mifflin Harcourt Publishers Inc., Houghton Mifflin Harcourt Publishing Company and HMH Publishers LLC, will offer, subject to market and other conditions, $350 million aggregate principal amount of Senior Secured Notes due 2025 (the "Notes") in a private offering exempt from registration under the Securities Act of 1933, as amended (the "Securities Act").
FirstClose Completes a Credit Facility with Pacific Western Bank; Westlake Securities Serves as Advisor
November 13, 2019FirstClose (the "Company"), a leading provider of technology solutions for mortgage lenders nationwide, announced today that it has completed a credit facility with Pacific Western Bank.
Locally-Led Bridgewater Bank Announces Equipment Finance Division
November 13, 2019Bridgewater Equipment Finance will provide a variety of financing solutions to commercial clients, including financing for equipment, vehicles, facilities and other purchases needed to fuel business growth.
BFS Capital Names Brian Simmons as Chief Operating Officer
November 13, 2019BFS Capital, a leader in small business lending, today announced the appointment of Brian Simmons as Chief Operating Officer. Simmons will join the executive team reporting to the company’s CEO Mark Ruddock.
SG Credit Partners Adds Bridge Loan Product to Solve For High Net Worth Liquidity Issues
November 13, 2019SG Credit Partners ("SGCP") now offers an interest only bridge loan product designed to provide a liquidity solution for asset rich, liquidity constrained entrepreneurs when speed and certainty to close are required. We call it the "Personal Financial Statement (PFS) Loan."
Change Capital Appoints Scott Bernstein as General Counsel
November 13, 2019Scott brings to his role extensive bankruptcy, reorganization, and commercial litigation experience, representing financial institutions, financial services companies, and secured and unsecured creditors. He will provide counsel and representation to Change Capital in these areas as well all legal matters.
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The Secured Lender
SFNet's 75th Annual Convention Issue.