TSL Express Daily News
The Secured Lender
SFNet's The 81st Annual Convention Issue
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Top 5 Apps for Organizing
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The Importance of Stretching
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SFNet's 40 Under 40 Award Winners Panel Recap
Mar 6, 2019Moderator: Samantha Alexander, regional underwriting manager, Wells Fargo Capital Finance’s Corporate Asset Based Lending group and 2016 CFA 40 Under…
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SFNet's Inaugural YoPro Leadership Summit
Mar 6, 2019The Secured Finance Network brought together the next generation of commercial finance leaders for a full day of learning and…
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It’s a Marathon, Not a Sprint
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It’s Not Too Late – Five Member Benefits to Cash In On Now
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It’s Time To Break Up With Your Phone
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Lien Management – What You Need to Know
Jun 6, 2018UCC filing is the cornerstone of all loans and every lien portfolio...
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Potential Impacts of Blockchain on Commercial Lending
Jan 15, 2018By Raja Sengupta, Executive Vice President and General Manager, Wolters Kluwer’s Lien Solutions When it comes to the rising importance…
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How to be a Good Leader
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Fintech and Due Diligence – Disruptors and Established Firms Evolve
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A Commercial Banker’s Tickler Transition Plan
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Understanding and Developing Your Personal Brand: Four Steps to a More Intentional Career Progression
Sep 5, 2017It is imperative for individuals to have a general idea about their future career aspirations, just as companies should have clearly defined strategies.
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Selecting a Technology Vendor: 3 Questions to Ask
Jul 5, 2017As with anything else at your bank, selecting a technology vendor can be a challenging decision. Users from across different…
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Why Back-Office Lending Automation Enhances Customer Satisfaction
Apr 25, 2017Every bank strives to keep its customers happy. Of course, some institutions are better at achieving this goal than…
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The Lost Art of the Loan Purchase
Mar 2, 2017Purchasing a loan directly from a bank whether at par or discount is a not-often-used technique that is easily…
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Audit Prep: Why a Paperless Approach Makes Sense
Feb 15, 2017How much time does your financial institution spend preparing for audits? We recently surveyed 187 community banks, and the results…
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Back Office Support Services: Helping you approve more clients
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“All Assets” is the Key When Drafting UCC-1 Financing Statement Collateral Descriptions
Jan 30, 2017Even when prepared by outside or in-house counsel, many lenders pay close attention to draft UCC financing statements before they…
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Paper Loan Files: Does Your Bank Know the True Cost?
Jan 12, 2017Sure, there’s a tangible cost associated with deploying an electronic loan imaging system. Software, support, and scanning hardware are just…
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July 27, 2021
Source: PR Newswire
Anvil Channel Energy Solutions today announced final close of a USD$65,000,000 senior secured loan facility to Certus Oil & Gas, Inc., supporting the acquisition of producing assets in central Alberta. This transaction marks the first cross-border transaction undertaken by the new Anvil Channel direct energy lending initiative.
"We are excited to have successfully executed this transformative transaction with support from the Anvil team; the creative capital solution structured by Anvil came at a critical time in our company's growth cycle." said Rob Brady President and CEO of Certus.
Anvil seeks to solve the gap between bank lenders, which have largely pulled back from the micro and mid-cap market in the U.S. and Canada, and the typically more expensive mezzanine and preferred equity providers.
"We were particularly happy to provide a liquidity solution in this persistently challenging energy space." Noted Cary Meadow, Chairman and CEO of Anvil Channel. "This transaction is a perfect representation of Anvil's thesis and mission - provide established producers with much needed acquisition and development capacity to meet their growth goals in a tight liquidity market."
Proceeds of the loan were used to fund the corporate acquisition of Sitka Exploration Ltd., providing geographically and technically complimentary assets to the existing Certus platform.
Anvil continues to seek strong sponsor partners with deep knowledge in the upstream E&P space who require acquisition, refinance and development capital for producing assets.
Noted David O'Driscoll, Co-CIO and President of Anvil Channel, "We are excited to partner with the Certus team to support their transformative acquisition and next phase of growth. Our expanded investment mandate allows us to consider supporting proven management teams in Canada as well as in the U.S., and we're delighted to get this inaugural cross-border transaction closed in an expedited manner." Echoing this sentiment Co-CIO James Avery said, "We believe our ability to stretch lend in this environment makes us an extremely competitive alternative to other sources of capital while maintaining a comfortable pricing level for the Company by tailoring the cost to fit production and cash-flows and look forward to continuing to review new opportunities throughout the balance of the year."
About Certus Oil and Gas Inc.
Certus is a privately owned company that has been operating in central Alberta since 2017.
About Anvil Channel
Anvil Channel Energy Solutions is a private direct lender focused on the upstream energy space. With offices in New York and Houston the company invests within tightly bound perimeters of value oriented oil and gas opportunities backed by several blue-chip institutional investors. More information is available on its website: http://www.anvilcp.com
