Articles

Lizzy (pronounced LEE-see) Diaz-Ortiz is a Chicago-based attorney with over 15 years of experience leading culture change for organizations. Most recently, her efforts have focused on driving diversity and inclusion programs in which she helps organizations create a culture of belonging to drive better business results.

She grew up as a military brat living and working all over the world and spent her formative years in Germany, quite different than the rest of her extended Puerto Rican family. Her diverse experiences as an Army dependent laid the groundwork for a three-year professional stint in Mexico City as an adult. More importantly, it provided the foundation for her desire to work in the diversity, equity, and inclusion realm and advocate for equitable outcomes.

New York State Senator James Sanders, Jr. (D-Queens, New York) has introduced a bill (S 6688) in the New York State Senate, which is presently pending before the Senate Committee on Rules.  The bill would require the licensing by the Superintendent of Banking of the New York State Banking Department (“Superintendent”) of persons or entities engaged in the business of making or soliciting commercial financing products to businesses located in New York State.

Republic Business Credit works with the Azadian Group and Change Capital to provide flexible growth capital during the coronavirus pandemic. 

J.P. Morgan, Bank of Montreal and Goldman Sachs acted as Joint Bookrunners and Joint Lead Arrangers on the Facility. J.P. Morgan is the Administrative Agent on the Facility with Bank of Montreal and Goldman Sachs as Co-Syndication Agents. Additional details on the credit agreement may be found in the Form 8-K to be filed with the Securities and Exchange Commission.

Crystal Financial LLC announced the closing of a $60,000,000 Senior Credit Facility for True Religion Apparel, Inc. (“True Religion” or “the Company”).  Founded in 2002 and best known for its signature denim, the Company is a retailer and wholesaler of high-quality apparel and accessories for men, women and children.  True Religion’s products are available through www.truereligion.com, in its over 100 retail locations, and at select department stores and specialty retailers worldwide. 

Hovde Group executives, Tim Stute and T.J. Humes, pictured above, provide an overview of the effects of the pandemic on M&A market conditions.

Gail K. Bernstein was executive vice president, national investment manager for PNC Business Credit, located in Los Angeles, CA. Prior to September 2013, she was the marketing manager of PNC Business Credit-Western Region, a de novo office that she opened in 1998. Besides her extensive experience in ABL, her career encompasses a specialization in international lending and investment management. She has traveled extensively in Latin America and is bilingual in English and Spanish.

After 20 years with PNC, Bernstein retired on August 30, 2019. 

Santander Bank, N.A. today announced the appointments of Taryn Phelan as Commercial Banking Chief Experience Officer and Michael McDonough as Head of Trade & Working Capital Solutions. Phelan will report to Joe Abruzzo, Head of Commercial Banking, and McDonough will report to Ken Deveaux, Head of Transaction Banking.

“Taryn and Michael are great examples of our investment in top talent to drive, develop and execute our Commercial Banking growth strategy,” said Abruzzo. “They bring a wealth of leadership, experience and energy with them to Santander, and I’m excited to have them on our dynamic team.”

CIT Group Inc. (NYSE: CIT) today announced that its Technology, Media and Telecommunications business served as co-lead arranger and joint bookrunner for a $165 million financing on behalf of iEnergizer, a leading technology services and media solutions company.

The financing, which includes a $150 million term loan and a $15 million revolving credit facility, will be used to refinance existing debt and fund a dividend to shareholders.

Founded in 2000, iEnergizer provides technology-enabled services to clients across a wide range of industries, including gaming, healthcare, publishing, travel, and financial services.

Current headwinds affecting asset-based lending (ABL) portfolios and emerging opportunities and challenges in various industry sectors are on the agenda at the Secured Finance Network (SFNet)  Asset-Based Capital Conference 2020 Feb. 4-5 in Las Vegas.

Jennifer Palmer, CEO, Gerber Finance,  Paul Schuldiner, executive vice president and purchase order finance division manager, Rosenthal & Rosenthal and Ken Wengrod, co-founder/president, FTC Commercial Corp. discuss the impact of Coronavirus.