- Deal Activity Slows for Asset-Based Lending, but Portfolio Performance Stays Strong
- Exploring the Future of Supply Chain Finance: Insights from SFNet's Inaugural Conference
- Navigating 2025: SFNet’s Asset-Based Capital Conference Returns to Las Vegas with Premier Insights and Networking
- Siena Lending Group Announces Leadership Transition Plan
- Celebrating the Achievements of SFNet Chapters
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Where Are They Now? Catching up with prior SFNet 40 Under 40 Award winners
Jun 15, 2022From promotions to new jobs to starting their own advisory firms, award winners share their career advice and what they have learned.
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Lucid Announces $1.0B Revolving Credit Facility
Jun 15, 2022Lucid Group, Inc. (NASDAQ: LCID) ("Lucid"), setting new standards with the longest-range, fastest-charging electric car on the market, today announced entry into a Credit Agreement (the "Credit Agreement") on June 9, 2022. Bank of America, N.A. is the administrative agent and swingline lender on the transaction. Other lenders in the initial bank syndicate include Citigroup; Barclays Bank PLC; Goldman Sachs Bank USA; JPMorgan Chase Bank N.A.; BNP Paribas; Royal Bank of Canada, Capital Markets; HSBC Bank USA, N.A.; MUFG Bank, Ltd.; Sumitomo Mitsui Banking Corporation; and Wells Fargo Bank, N.A.
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BMO Financial Group Hires Jim Dore as U.S. Managing Director, Retail Finance, Asset-Based Lending Group
Jun 14, 2022BMO Financial Group announced today that it has hired Jim Dore as U.S. Managing Director, Retail Finance Originations, Asset-Based Lending. In this role and in partnership with Michael Ganann, U.S. Head of Retail Finance, Jim will primarily focus on calling nationwide on BMO clients, prospects, and referral sources in the retail and apparel industries. Jim will be based in Boston.
-
Goodnight Midstream Announces Closing of Private Placement, New Revolving Credit Facility
Jun 13, 2022Goodnight Midstream LLC ("Goodnight"), a leading midstream produced water infrastructure company, today announced the completion of the sale of $325 million of Senior Notes in a private placement to EIG and Crestline Investors. Concurrent with the private placement, Goodnight announced the successful closing of a $100 million Revolving Credit Facility led by Wells Fargo Bank, N.A., along with participation from Texas Capital Bank, Cadence Bank and First Horizon Bank.
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Atalaya Capital Management Expands Platform
Jun 13, 2022Atalaya Capital Management ("Atalaya"), an $8.5bn alternative asset manager focused on private credit and special opportunities investing, announced today that Elm Park Capital's experienced team of credit investment professionals will join Atalaya in the new Atalaya Crescent office, located in the financial center of Dallas.
-
Bill Lyons Joins Mitsubishi HC Capital America to Drive Growth in Factoring, Asset-Based Lending
Jun 9, 2022Mitsubishi HC Capital America has named Bill Lyons Origination Leader, Asset-Based Lending.
Based in Michigan, Lyons will be responsible for business development across the Midwest. He will work primarily with small- and mid-sized businesses, helping with cost-effective financing options that allow them to grow and manage cash flow throughout their business cycles.
-
CIT Increases Maritime Financing to $57 Million for Crowley
Jun 8, 2022CIT, a division of First Citizens Bank, today announced that its Maritime Finance business has recently increased its financing of Crowley, a leading global shipping and logistics company, to a total of $57 million as part of a larger credit facility. This financing applies to multiple Crowley vessels.
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SFNet’s Women in Secured Finance Conference Returns in Person June 15-16, 2022
Jun 7, 2022Attendees to reconnect, discuss reassessing goals, recruitment, retention, DEI, mental health and more. Guest Speaker Leigh Gilmore, general manager, Live Journalism at Dow Jones to join.
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SFNet Releases its Latest Market Pulse Report
Jun 7, 2022SFNet is pleased to present the SFNet Market Pulse, a periodic report that informs lenders about emerging economic trends likely to affect secured lending and their borrowers’ industries over the next one to two quarters.
-
Stonegate Capital Announces Senior Debt Investment in Van Leeuwen Ice Cream
Jun 6, 2022Stonegate Capital, a division of SG Credit Partners (“SGCP”), a family-office backed lender providing capital to lower middle market businesses and entrepreneurs, is pleased to announce the closing of a senior debt investment in Van Leeuwen Ice Cream, a leading brand of premium ice cream products in the U.S.
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Can the Global Supply Chain Survive Global Political Disorder?
Jun 6, 2022The managing director of Global Torchlight, a geopolitical risk advisory firm, discusses the various reasons for the supply chain disruption and what we may expect in the future. -
Rosenthal Names Peter Clement SVP International Factoring Business Development Officer
Jun 6, 2022
Rosenthal & Rosenthal, Inc., the leading factoring, asset-based lending, purchase order financing, d2c and e-commerce inventory financing firm in the United States, today announced that Peter Clement has joined Rosenthal as SVP International Factoring Business Development Officer.
-
Norma Kuntz Joins Gordon Brothers as President & Chief Operating Officer
Jun 2, 2022Norma Kuntz has joined Gordon Brothers, the global advisory, restructuring and investment firm, as President and Chief Operating Officer and as a member of the board of directors.
Kuntz will work in partnership with senior leadership and the board of directors to guide Gordon Brothers’ continued, rapid growth and set the firm’s strategy. With nearly 25 years of experience in the private equity, asset management, alternative investment and financial services industries worldwide, she will be responsible for the firm’s operations.
-
Cannara Biotech Inc. Closes $50 Million Credit Facility Led by BMO Commercial Banking
Jun 1, 2022Cannara Biotech Inc. ("Cannara" or the "Company") (TSXV: LOVE) (OTCQB: LOVFF) (FRA: 8CB), a vertically integrated producer of premium-grade cannabis and derivative products with two mega facilities based in Quebec spanning over 1,650,000 sq. ft., announced today that it has closed on a $50M credit facility led by BMO Commercial Banking. The credit facility, effective May 31, 2022, includes a three-year term loan for $45 million with an accordion for up to an additional $10 million and a $5 million line of credit.
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Access Capital, Inc., Announces Terry M. Keating as Chief Executive Officer
May 31, 2022Access Capital, Inc., the nation’s leading independent lender to the staffing industry, announced today that Terry M. Keating has been named as its Chief Executive Officer.
Terry has more than 30 years of senior management experience in the financial services industry, including most recently leading an asset-based lending business, in addition to 15 years serving as a lender to the asset-based lending industry and ten years as a consultant and investment banker serving the industry.
-
CIT Provides $22 Million to Refinance Chandler Medical Plaza
May 31, 2022CIT, a division of First Citizens Bank, today announced that its Healthcare Finance business served as sole lender on a $22 million loan to AZ Banner Investments LLC, which is managed by Webb Management & Investments, LLC. The loan was used to refinance the Chandler Medical Plaza, a three-story medical office building in Chandler, Arizona.
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CIT Commercial Services Appoints Cheryle Arevalo to Account Executive for Western Region
May 26, 2022CIT, a division of First Citizens Bank, has appointed Cheryle Arevalo to the position of account executive for the Western Region of CIT’s Commercial Services business. Arevalo will be based in Los Angeles, California and will manage the relationships and loans of several clients in the region. She will also be instrumental in discovering new business opportunities, cultivating relationships with new clients and outside referral sources, and identifying the right banking products to best serve client needs.
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Ferretti Joins Webster Bank as Senior Vice President, Market Manager Commercial & Industrial Middle Market Banking
May 25, 2022Webster Bank is pleased to announce that it is expanding its commitment to Commercial & Industrial Middle Market Banking with the addition of David Ferretti as Senior Vice President, Market Manager, New Haven.
Ferretti reports to Douglas Scala, Regional President, New England and is responsible for providing comprehensive commercial banking services to middle market clients and prospects throughout greater New Haven County.
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Bridgeport Capital Announces Bob Seidenberger has Joined as Senior Vice President of Business Development
May 24, 2022Bridgeport Capital is pleased to announce the addition of Bob Seidenberger as Senior Vice President of Business Development to the Bridgeport team. Bob will be opening a regional sales office in Philadelphia, Pennsylvania and will report to Max Toledo. Bob brings 25 years years of experience in the financial services industry and is extremely knowledgeable on all aspects of factoring.
-
ZenFi Networks Secures $175 Million Senior Secured Credit Facility
May 23, 2022ZenFi Networks, an innovative leader of digital infrastructure solutions in the New York and New Jersey metro region, announces today that it has secured $175 Million in Senior Secured Credit. The credit facility will be used to refinance existing debt and support continued growth initiatives as the company continues the build-out and expansion of the LinkNYC project throughout the five boroughs of New York City.
-
Where Are They Now? Catching up with prior SFNet 40 Under 40 Award winners
Jun 15, 2022From promotions to new jobs to starting their own advisory firms, award winners share their career advice and what they have learned.
-
Lucid Announces $1.0B Revolving Credit Facility
Jun 15, 2022Lucid Group, Inc. (NASDAQ: LCID) ("Lucid"), setting new standards with the longest-range, fastest-charging electric car on the market, today announced entry into a Credit Agreement (the "Credit Agreement") on June 9, 2022. Bank of America, N.A. is the administrative agent and swingline lender on the transaction. Other lenders in the initial bank syndicate include Citigroup; Barclays Bank PLC; Goldman Sachs Bank USA; JPMorgan Chase Bank N.A.; BNP Paribas; Royal Bank of Canada, Capital Markets; HSBC Bank USA, N.A.; MUFG Bank, Ltd.; Sumitomo Mitsui Banking Corporation; and Wells Fargo Bank, N.A.
-
BMO Financial Group Hires Jim Dore as U.S. Managing Director, Retail Finance, Asset-Based Lending Group
Jun 14, 2022BMO Financial Group announced today that it has hired Jim Dore as U.S. Managing Director, Retail Finance Originations, Asset-Based Lending. In this role and in partnership with Michael Ganann, U.S. Head of Retail Finance, Jim will primarily focus on calling nationwide on BMO clients, prospects, and referral sources in the retail and apparel industries. Jim will be based in Boston.
-
Goodnight Midstream Announces Closing of Private Placement, New Revolving Credit Facility
Jun 13, 2022Goodnight Midstream LLC ("Goodnight"), a leading midstream produced water infrastructure company, today announced the completion of the sale of $325 million of Senior Notes in a private placement to EIG and Crestline Investors. Concurrent with the private placement, Goodnight announced the successful closing of a $100 million Revolving Credit Facility led by Wells Fargo Bank, N.A., along with participation from Texas Capital Bank, Cadence Bank and First Horizon Bank.
-
Atalaya Capital Management Expands Platform
Jun 13, 2022Atalaya Capital Management ("Atalaya"), an $8.5bn alternative asset manager focused on private credit and special opportunities investing, announced today that Elm Park Capital's experienced team of credit investment professionals will join Atalaya in the new Atalaya Crescent office, located in the financial center of Dallas.
-
Bill Lyons Joins Mitsubishi HC Capital America to Drive Growth in Factoring, Asset-Based Lending
Jun 9, 2022
Mitsubishi HC Capital America has named Bill Lyons Origination Leader, Asset-Based Lending.
Based in Michigan, Lyons will be responsible for business development across the Midwest. He will work primarily with small- and mid-sized businesses, helping with cost-effective financing options that allow them to grow and manage cash flow throughout their business cycles.
-
CIT Increases Maritime Financing to $57 Million for Crowley
Jun 8, 2022CIT, a division of First Citizens Bank, today announced that its Maritime Finance business has recently increased its financing of Crowley, a leading global shipping and logistics company, to a total of $57 million as part of a larger credit facility. This financing applies to multiple Crowley vessels.
-
SFNet’s Women in Secured Finance Conference Returns in Person June 15-16, 2022
Jun 7, 2022
Attendees to reconnect, discuss reassessing goals, recruitment, retention, DEI, mental health and more. Guest Speaker Leigh Gilmore, general manager, Live Journalism at Dow Jones to join.
-
SFNet Releases its Latest Market Pulse Report
Jun 7, 2022SFNet is pleased to present the SFNet Market Pulse, a periodic report that informs lenders about emerging economic trends likely to affect secured lending and their borrowers’ industries over the next one to two quarters.
-
Stonegate Capital Announces Senior Debt Investment in Van Leeuwen Ice Cream
Jun 6, 2022Stonegate Capital, a division of SG Credit Partners (“SGCP”), a family-office backed lender providing capital to lower middle market businesses and entrepreneurs, is pleased to announce the closing of a senior debt investment in Van Leeuwen Ice Cream, a leading brand of premium ice cream products in the U.S.
-
Can the Global Supply Chain Survive Global Political Disorder?
Jun 6, 2022The managing director of Global Torchlight, a geopolitical risk advisory firm, discusses the various reasons for the supply chain disruption and what we may expect in the future.
-
Rosenthal Names Peter Clement SVP International Factoring Business Development Officer
Jun 6, 2022
Rosenthal & Rosenthal, Inc., the leading factoring, asset-based lending, purchase order financing, d2c and e-commerce inventory financing firm in the United States, today announced that Peter Clement has joined Rosenthal as SVP International Factoring Business Development Officer.
-
Norma Kuntz Joins Gordon Brothers as President & Chief Operating Officer
Jun 2, 2022
Norma Kuntz has joined Gordon Brothers, the global advisory, restructuring and investment firm, as President and Chief Operating Officer and as a member of the board of directors.
Kuntz will work in partnership with senior leadership and the board of directors to guide Gordon Brothers’ continued, rapid growth and set the firm’s strategy. With nearly 25 years of experience in the private equity, asset management, alternative investment and financial services industries worldwide, she will be responsible for the firm’s operations.
-
Cannara Biotech Inc. Closes $50 Million Credit Facility Led by BMO Commercial Banking
Jun 1, 2022Cannara Biotech Inc. ("Cannara" or the "Company") (TSXV: LOVE) (OTCQB: LOVFF) (FRA: 8CB), a vertically integrated producer of premium-grade cannabis and derivative products with two mega facilities based in Quebec spanning over 1,650,000 sq. ft., announced today that it has closed on a $50M credit facility led by BMO Commercial Banking. The credit facility, effective May 31, 2022, includes a three-year term loan for $45 million with an accordion for up to an additional $10 million and a $5 million line of credit.
-
Access Capital, Inc., Announces Terry M. Keating as Chief Executive Officer
May 31, 2022
Access Capital, Inc., the nation’s leading independent lender to the staffing industry, announced today that Terry M. Keating has been named as its Chief Executive Officer.
Terry has more than 30 years of senior management experience in the financial services industry, including most recently leading an asset-based lending business, in addition to 15 years serving as a lender to the asset-based lending industry and ten years as a consultant and investment banker serving the industry.
-
CIT Provides $22 Million to Refinance Chandler Medical Plaza
May 31, 2022CIT, a division of First Citizens Bank, today announced that its Healthcare Finance business served as sole lender on a $22 million loan to AZ Banner Investments LLC, which is managed by Webb Management & Investments, LLC. The loan was used to refinance the Chandler Medical Plaza, a three-story medical office building in Chandler, Arizona.
-
CIT Commercial Services Appoints Cheryle Arevalo to Account Executive for Western Region
May 26, 2022CIT, a division of First Citizens Bank, has appointed Cheryle Arevalo to the position of account executive for the Western Region of CIT’s Commercial Services business. Arevalo will be based in Los Angeles, California and will manage the relationships and loans of several clients in the region. She will also be instrumental in discovering new business opportunities, cultivating relationships with new clients and outside referral sources, and identifying the right banking products to best serve client needs.
-
Ferretti Joins Webster Bank as Senior Vice President, Market Manager Commercial & Industrial Middle Market Banking
May 25, 2022
Webster Bank is pleased to announce that it is expanding its commitment to Commercial & Industrial Middle Market Banking with the addition of David Ferretti as Senior Vice President, Market Manager, New Haven.
Ferretti reports to Douglas Scala, Regional President, New England and is responsible for providing comprehensive commercial banking services to middle market clients and prospects throughout greater New Haven County.
-
Bridgeport Capital Announces Bob Seidenberger has Joined as Senior Vice President of Business Development
May 24, 2022Bridgeport Capital is pleased to announce the addition of Bob Seidenberger as Senior Vice President of Business Development to the Bridgeport team. Bob will be opening a regional sales office in Philadelphia, Pennsylvania and will report to Max Toledo. Bob brings 25 years years of experience in the financial services industry and is extremely knowledgeable on all aspects of factoring.
-
ZenFi Networks Secures $175 Million Senior Secured Credit Facility
May 23, 2022ZenFi Networks, an innovative leader of digital infrastructure solutions in the New York and New Jersey metro region, announces today that it has secured $175 Million in Senior Secured Credit. The credit facility will be used to refinance existing debt and support continued growth initiatives as the company continues the build-out and expansion of the LinkNYC project throughout the five boroughs of New York City.
-
Where Are They Now? Catching up with prior SFNet 40 Under 40 Award winners
Jun 15, 2022From promotions to new jobs to starting their own advisory firms, award winners share their career advice and what they have learned.
-
Lucid Announces $1.0B Revolving Credit Facility
Jun 15, 2022Lucid Group, Inc. (NASDAQ: LCID) ("Lucid"), setting new standards with the longest-range, fastest-charging electric car on the market, today announced entry into a Credit Agreement (the "Credit Agreement") on June 9, 2022. Bank of America, N.A. is the administrative agent and swingline lender on the transaction. Other lenders in the initial bank syndicate include Citigroup; Barclays Bank PLC; Goldman Sachs Bank USA; JPMorgan Chase Bank N.A.; BNP Paribas; Royal Bank of Canada, Capital Markets; HSBC Bank USA, N.A.; MUFG Bank, Ltd.; Sumitomo Mitsui Banking Corporation; and Wells Fargo Bank, N.A.
-
BMO Financial Group Hires Jim Dore as U.S. Managing Director, Retail Finance, Asset-Based Lending Group
Jun 14, 2022BMO Financial Group announced today that it has hired Jim Dore as U.S. Managing Director, Retail Finance Originations, Asset-Based Lending. In this role and in partnership with Michael Ganann, U.S. Head of Retail Finance, Jim will primarily focus on calling nationwide on BMO clients, prospects, and referral sources in the retail and apparel industries. Jim will be based in Boston.
-
Goodnight Midstream Announces Closing of Private Placement, New Revolving Credit Facility
Jun 13, 2022Goodnight Midstream LLC ("Goodnight"), a leading midstream produced water infrastructure company, today announced the completion of the sale of $325 million of Senior Notes in a private placement to EIG and Crestline Investors. Concurrent with the private placement, Goodnight announced the successful closing of a $100 million Revolving Credit Facility led by Wells Fargo Bank, N.A., along with participation from Texas Capital Bank, Cadence Bank and First Horizon Bank.
-
Atalaya Capital Management Expands Platform
Jun 13, 2022Atalaya Capital Management ("Atalaya"), an $8.5bn alternative asset manager focused on private credit and special opportunities investing, announced today that Elm Park Capital's experienced team of credit investment professionals will join Atalaya in the new Atalaya Crescent office, located in the financial center of Dallas.
-
Bill Lyons Joins Mitsubishi HC Capital America to Drive Growth in Factoring, Asset-Based Lending
Jun 9, 2022
Mitsubishi HC Capital America has named Bill Lyons Origination Leader, Asset-Based Lending.
Based in Michigan, Lyons will be responsible for business development across the Midwest. He will work primarily with small- and mid-sized businesses, helping with cost-effective financing options that allow them to grow and manage cash flow throughout their business cycles.
-
CIT Increases Maritime Financing to $57 Million for Crowley
Jun 8, 2022CIT, a division of First Citizens Bank, today announced that its Maritime Finance business has recently increased its financing of Crowley, a leading global shipping and logistics company, to a total of $57 million as part of a larger credit facility. This financing applies to multiple Crowley vessels.
-
SFNet’s Women in Secured Finance Conference Returns in Person June 15-16, 2022
Jun 7, 2022
Attendees to reconnect, discuss reassessing goals, recruitment, retention, DEI, mental health and more. Guest Speaker Leigh Gilmore, general manager, Live Journalism at Dow Jones to join.
-
SFNet Releases its Latest Market Pulse Report
Jun 7, 2022SFNet is pleased to present the SFNet Market Pulse, a periodic report that informs lenders about emerging economic trends likely to affect secured lending and their borrowers’ industries over the next one to two quarters.
-
Stonegate Capital Announces Senior Debt Investment in Van Leeuwen Ice Cream
Jun 6, 2022Stonegate Capital, a division of SG Credit Partners (“SGCP”), a family-office backed lender providing capital to lower middle market businesses and entrepreneurs, is pleased to announce the closing of a senior debt investment in Van Leeuwen Ice Cream, a leading brand of premium ice cream products in the U.S.
-
Can the Global Supply Chain Survive Global Political Disorder?
Jun 6, 2022The managing director of Global Torchlight, a geopolitical risk advisory firm, discusses the various reasons for the supply chain disruption and what we may expect in the future.
-
Rosenthal Names Peter Clement SVP International Factoring Business Development Officer
Jun 6, 2022
Rosenthal & Rosenthal, Inc., the leading factoring, asset-based lending, purchase order financing, d2c and e-commerce inventory financing firm in the United States, today announced that Peter Clement has joined Rosenthal as SVP International Factoring Business Development Officer.
-
Norma Kuntz Joins Gordon Brothers as President & Chief Operating Officer
Jun 2, 2022
Norma Kuntz has joined Gordon Brothers, the global advisory, restructuring and investment firm, as President and Chief Operating Officer and as a member of the board of directors.
Kuntz will work in partnership with senior leadership and the board of directors to guide Gordon Brothers’ continued, rapid growth and set the firm’s strategy. With nearly 25 years of experience in the private equity, asset management, alternative investment and financial services industries worldwide, she will be responsible for the firm’s operations.
-
Cannara Biotech Inc. Closes $50 Million Credit Facility Led by BMO Commercial Banking
Jun 1, 2022Cannara Biotech Inc. ("Cannara" or the "Company") (TSXV: LOVE) (OTCQB: LOVFF) (FRA: 8CB), a vertically integrated producer of premium-grade cannabis and derivative products with two mega facilities based in Quebec spanning over 1,650,000 sq. ft., announced today that it has closed on a $50M credit facility led by BMO Commercial Banking. The credit facility, effective May 31, 2022, includes a three-year term loan for $45 million with an accordion for up to an additional $10 million and a $5 million line of credit.
-
Access Capital, Inc., Announces Terry M. Keating as Chief Executive Officer
May 31, 2022
Access Capital, Inc., the nation’s leading independent lender to the staffing industry, announced today that Terry M. Keating has been named as its Chief Executive Officer.
Terry has more than 30 years of senior management experience in the financial services industry, including most recently leading an asset-based lending business, in addition to 15 years serving as a lender to the asset-based lending industry and ten years as a consultant and investment banker serving the industry.
-
CIT Provides $22 Million to Refinance Chandler Medical Plaza
May 31, 2022CIT, a division of First Citizens Bank, today announced that its Healthcare Finance business served as sole lender on a $22 million loan to AZ Banner Investments LLC, which is managed by Webb Management & Investments, LLC. The loan was used to refinance the Chandler Medical Plaza, a three-story medical office building in Chandler, Arizona.
-
CIT Commercial Services Appoints Cheryle Arevalo to Account Executive for Western Region
May 26, 2022CIT, a division of First Citizens Bank, has appointed Cheryle Arevalo to the position of account executive for the Western Region of CIT’s Commercial Services business. Arevalo will be based in Los Angeles, California and will manage the relationships and loans of several clients in the region. She will also be instrumental in discovering new business opportunities, cultivating relationships with new clients and outside referral sources, and identifying the right banking products to best serve client needs.
-
Ferretti Joins Webster Bank as Senior Vice President, Market Manager Commercial & Industrial Middle Market Banking
May 25, 2022
Webster Bank is pleased to announce that it is expanding its commitment to Commercial & Industrial Middle Market Banking with the addition of David Ferretti as Senior Vice President, Market Manager, New Haven.
Ferretti reports to Douglas Scala, Regional President, New England and is responsible for providing comprehensive commercial banking services to middle market clients and prospects throughout greater New Haven County.
-
Bridgeport Capital Announces Bob Seidenberger has Joined as Senior Vice President of Business Development
May 24, 2022Bridgeport Capital is pleased to announce the addition of Bob Seidenberger as Senior Vice President of Business Development to the Bridgeport team. Bob will be opening a regional sales office in Philadelphia, Pennsylvania and will report to Max Toledo. Bob brings 25 years years of experience in the financial services industry and is extremely knowledgeable on all aspects of factoring.
-
ZenFi Networks Secures $175 Million Senior Secured Credit Facility
May 23, 2022ZenFi Networks, an innovative leader of digital infrastructure solutions in the New York and New Jersey metro region, announces today that it has secured $175 Million in Senior Secured Credit. The credit facility will be used to refinance existing debt and support continued growth initiatives as the company continues the build-out and expansion of the LinkNYC project throughout the five boroughs of New York City.