TSL Express Daily Articles & News

AVENUE Stores, LLC, on Friday August 16, 2019, filed for Chapter 11 reorganization and authorized store closing sales by a joint venture of Gordon Brothers and Hilco Merchant Resources have commenced.

Antares announced today that it served as sole lead arranger and is acting as administrative agent for a senior secured credit facility to refinance existing debt and to provide additional capital to support the continued growth of Mountaingate Capital’s Tinuiti.

DRB Financial Solutions, LLC (DRBfinancial.com) and its wholly-owned subsidiary DRB Capital, LLC are pleased to announce that they have closed on the first $150M of a planned $300M term financing facility for their structured settlement and annuity payment stream programs.

The law firm of Moritt Hock & Hamroff LLP with offices on Long Island and in Manhattan is pleased to announce that David H. Cohen (a partner of the firm), Andrew B. Eckstein (counsel to the firm), Robert M. Finkel (a partner of the firm) and Henry L. Goldberg (a partner of the firm) have been selected for inclusion in the 2020 Edition of Best Lawyers®.

Crestmark is pleased to announce the return and appointment of Rick Pierman as senior vice president, strategic operations to its equipment finance division. Based in Troy, he will report to Crestmark Equipment Finance Chief Operating Officer and General Counsel Jim Recker.

A turnaround consultant called in Gibraltar when his client’s bank proved less flexible than necessary while certain business improvements were in process. Gibraltar was able to respond with a $13 million asset-based line of credit to help the company move through the transition.

Siena Lending Group LLC (“Siena”) announces the closing of a $5.5 million asset-based credit facility for Amfuel, LLC (“Amfuel”), which is scalable up to $8.0 million during the three year term.

The new capital will fuel the growth of an industry leading Canadian oilfield transport and logistics company, progressing their efforts to surpass the expectations of customers while managing the unique environmental challenges that arise in their industry.

NXT Capital acted as the Joint Lead Arranger, Sole Bookrunner and Administrative Agent for this transaction.

Amherst Partners is pleased to announce the promotion of Fahad Siddiqui to the role of Vice President in the Investment Banking practice.

OneWest Bank, CIT's Southern California retail bank division, today announced a new small business banking promotion for both new and established businesses across Southern California. Business banking customers can earn up to $600 by opening an eligible checking account, savings account and by financing equipment for their business.

The launch of the new site – www.hitachitechfinance.com – is an important element of Hitachi Technology Finance’s rebranding campaign to promote their new name with a more focused product offering to their core client base, VARs and technology vendors. Formerly known as Global Technology Finance, Hitachi Capital America Technology Finance provides transformative flooring and lines of credit.

Finacity Corporation (“Finacity”), a member of the Greensill family of companies, has successfully launched a multi-jurisdiction trade receivables factoring program for ZIM Integrated Shipping Services Limited (“ZIM”), a company headquartered in Israel, allowing up to USD 90 million in funding from a leading Israeli bank.

Amerisource Business Capital announced the closing and funding of a $3,000,000 credit facility for a meal and dining services company based in Ohio. Proceeds of the facility are being used to finance working capital.

Paragon Financial Group, Inc., an Asset Based Lending company specializing in No-Credit Risk Accounts Receivable Factoring and Purchase Order Funding, announced today the addition of Kalli Perez and Ernesto Moran to the team at Paragon Financial.

He assumes responsibility for establishing and expanding the Old National Bank brand with a full-service commercial banking presence in St. Louis.

Marsh advises U.S. and international issuers and underwriters on a broad range of transactions, including in the life sciences and technology industries.

A member of the firm’s Management Committee, Mr. Van Gorp has practiced structured finance law at Mayer Brown for over 20 years.

Twenty-five-year equipment financing veteran, Anthony Zambon, will lead CCG Equipment Finance Ltd. to expand operations in Canada.

CIT Group Inc. (NYSE: CIT) today announced that Philip Robbins has joined the company as the president of Asset Management and Capital Markets. In this role, he will manage the capital markets portfolio of products, the syndicated loan group and CIT’s asset management activities.