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  • NasserAnsari_WoltersKluwer_150 How Blockchain and “DeFi” May Impact Lending in the Future
    Nov 8, 2021

    Ever since the early days of blockchain with the 2009 introduction of Bitcoin, cryptocurrencies have been prone to periods of high and low valuation. After going through another “crypto-winter,” or period of low prices, lasting three years, cryptocurrencies have once again caught the attention of a broader investor community.

    Since the second half of 2020, the sheer number of new cryptocurrency offerings and the price volatility have been breathtaking. For example, Ethereum—the number two cryptocurrency and blockchain platform by market cap—grew by 800 percent from October 2020-October 2021. As new investment vehicles for Bitcoin are introduced in the United States, the hype is at an all-time high.

  • White Oak Provides $51.5 Million Commitment to HRB Brands to Finance Acquisition of Personal Care Brands From Helen of Troy
    Nov 4, 2021
    White Oak Global Advisors (“White Oak”) is pleased to announce that it has provided a $51.5 million commitment to provide senior secured term debt financing to HRB Brands LLC (“HRB”) to effectuate their acquisition of a portfolio of personal care brands from Helen of Troy Limited (Nasdaq: HELE). The acquired portfolio includes the North American operations of 12 iconic and well-known brands such as Brut, Pert, Sure, and Ammens.
  • UPSTACK Secures $100M from MidCap Financial and Morgan Stanley Private Credit
    Nov 3, 2021
    UPSTACK, a profitable, fast-growing platform that transforms the architecture and sourcing experience for businesses seeking cloud and internet infrastructure solutions, announced today it has secured $100 million in financing from MidCap Financial and Morgan Stanley Private Credit. MidCap Financial is the Administrative Agent, Sole Arranger and Sole Bookrunner.
  • CIT Serves as Joint Lead Arranger on $1.16 Billion Financing for PRO Unlimited Inc.
    Nov 2, 2021

    CIT Group Inc. (NYSE: CIT) today announced that its Asset-Based Lending business served as joint lead arranger on a $1.16 billion financing for PRO Unlimited Inc., a leading Integrated Workforce Management (IWM) platform provider.

    Serving hundreds of the world’s most recognizable brands, PRO Unlimited offers modern workforce management and a partner ecosystem supported by data, software, intelligence and services to meet organizations’ flexible workforce needs. 

  • SG Credit Partners Acquires Stonegate Capital Holdings
    Nov 1, 2021
    SG Credit Partners today announced its acquisition of Stonegate Capital Holdings (“Stonegate”) and its entry into asset-based lending with a focus on high-growth consumer and recurring revenue verticals.  Stonegate will operate independently as a new division of SG Credit and continue to build upon its position as a market leader in non-bank direct lending. The acquisition of Stonegate establishes SG Credit Partners as the leading lower middle market credit platform delivering a complete range of credit solutions. 
  • Wade M. Kennedy Pitfalls of Incorporating Term Loan Provisions into ABL Credit Agreements
    Nov 1, 2021

    When documenting an ABL facility alongside a separate term loan, borrowers and financial sponsors increasingly request that the ABL credit agreement be drafted to essentially match material terms of the term loan agreement. This understandable desire for conformity often overshadows fundamental differences between ABL and term loan facilities and can create significant issues for ABL lenders. The goal from the ABL lender’s perspective should be to understand the tradeoffs involved and provide a level of functional conformity in principal terms, while maintaining customary availability-based metrics and liquidity protections of ABL loan documentation which are often absent or inadequately covered in term loan documentation.

  • Trinity Capital Inc. Enters into New $300 Million Credit Facility with KeyBank
    Trinity Capital Inc. (Nasdaq: TRIN) ("Trinity"), a leading specialty lending company that provides debt, including loans and equipment financing, to growth stage companies backed by technology banks, venture capital and private equity firms, today announced that it has entered into a new $300 million credit facility led by KeyBank N.A. ("Key Bank"). KeyBank is leading the credit facility with a commitment of $75 million, and the facility can accordion to $300 million as additional lenders are added to the lending syndicate, subject to the facility's credit agreement.
  • Bridge Bank Issues $10 Million Asset-based Line of Credit to Shippabo
    Oct 28, 2021

    SAN JOSE, Calif., Oct. 28, 2021 /PRNewswire/ -- Bridge Bank today announced that its Capital Finance Group has issued a $10 million asset-based line of credit to Shippabo, a cloud-based supply chain-management platform serving the shipping and logistics industries.

    Shippabo, based in Los Angeles, will use the asset-based line of credit to support working capital needs and finance its growth. Shippabo is a logistics technology company that has developed an online freight management application that helps import and export companies control their shipping process. 
  • Richard Hawkins, Atlantic RMS How to avoid another Greensill: Diligence, Diligence, Diligence
    Oct 27, 2021
    Greensill seems to be the gift that keeps on giving. If, like me, you are fascinated by financial scandals, there is a continuing narrative regarding the conduct of this business, its impact on its clients and the wider implications for businesses that operate under the general heading of supply chain finance (SCF). That said, we have come to discover that classifying Greensill as a supply chain finance business is probably inappropriate
  • Siena Announces $122M in New Facilities During Q3 2021
    Oct 27, 2021
    Siena Lending Group announced it closed two deals in Q3 2021 for $110 million for companies in media services and mobile accessories.  Siena Healthcare Finance announced it closed a $12 million deal for a company in the pharmaceuticals industry during Q3.
  • PNC Bank Further Expands Regional President Model In California, Names Leaders For Orange County-Inland Empire, Greater Los Angeles Metropolitan Area

    PNC Bank, N.A. announced the appointment of two new regional presidents in California, further expanding its local leadership and decision-making model in the state.

    Jarrod Ingle joins PNC as the regional president and head of Corporate Banking for the Orange County-Inland Empire market and Todd Wilson assumes responsibilities as regional president for the Greater Los Angeles Metropolitan Area. 

  • Siena Healthcare Finance Hires Managing Director, Chief Risk Officer
    Oct 25, 2021
    Siena Healthcare Finance is pleased to announce the addition of Dan Whitwer as managing director and chief risk officer.

    Located in Los Angeles, Dan brings over 20 years of experience in asset-based lending to Siena. Prior to joining the Healthcare team, he served in senior executive positions at both Wells Fargo Capital Finance and Wells Fargo Healthcare Finance. Most recently, he led a team at Wells Fargo managing a $1 billion portfolio of asset-backed loans to healthcare companies.
  • tim_stute_square An Interview with Tim Stute, Managing Director and Head of Specialty Finance, Hovde Group

    In this installment of our series of executive interviews, Charlie Perer sits with Tim Stute to understand his views on the ABL industry, consolidation, new trends including specialization and state of the M&A market, among other things.

  • Kristin Lesher Named Head of Middle Market Banking for Wells Fargo
    Oct 25, 2021

    Wells Fargo & Company (NYSE: WFC) today announced that 21-year company veteran Kristin Lesher will lead Middle Market Banking, effective immediately. She reports to Kyle Hranicky, CEO of Wells Fargo Commercial Banking.

    An industry leader in serving middle market companies, Wells Fargo provides financial solutions and specialized expertise across industries including agribusiness, food and hospitality, healthcare, investor real estate, government banking and technology. 

  • CIT Serves as Sole Lead Arranger for Up to $95 Million in Financing for Relaunch of Castle Rock Entertainment
    Oct 21, 2021

    CIT Group Inc. (NYSE: CIT) today announced that its Technology, Media and Telecommunications business served as sole lead arranger and administrative agent on up to $95 million in financing toward the relaunch of noted Hollywood film production company Castle Rock Entertainment.

    Castle Rock was founded in 1987 by Academy Award nominated director Rob Reiner, who will remain as CEO of the relaunched firm, along with Martin Shafer, Andrew Scheinman, Glenn Padnick and Alan Horn. Reiner will be joined by Michele Reiner and Matthew George as co-presidents. The transaction includes a senior secured credit facility for $65 million with an accordion feature for up to $30 million more.

  • NneomaMaduike_150 Diversity in Secured Finance: Interview with Anthony C. Hood, PhD, First Horizon National Corp.

    Nneoma Maduike, member of SFNet’s Diversity, Equity & Inclusiveness Committee interviews Anthony C. Hood, PhD, executive vice president and chief diversity, equity and inclusion officer of First Horizon National Corp. Dr. Hood is responsible for cultivating and expanding First Horizon’s strategic leadership in developing and implementing programs and initiatives that advance the Company’s Diversity, Equity and Inclusion (DEI) efforts.

  • ePlus Announces New Credit Facility
    Oct 20, 2021
    ePlus inc. (NASDAQ: PLUS), a leading provider of technology and financing solutions, today announced that its subsidiaries ePlus Technology, inc., ePlus Technology Services, inc. and SLAIT Consulting, LLC (collectively, the "Borrowers") recently amended, restated and replaced in their entirety their existing credit agreements with Wells Fargo Commercial Distribution Finance Corporation ("CDF").
  • Monroe Capital Appoints Zia Uddin as President
    Oct 19, 2021
    Monroe Capital LLC (“Monroe” or the “Firm”) today named Zia Uddin as its President. Mr. Uddin who is a Partner and Portfolio Manager, Institutional Portfolios, will continue to report to Ted Koenig, who will remain the firm’s Chairman and CEO.

    As President of Monroe, Mr. Uddin will oversee and implement Monroe’s long-term growth strategies. He will remain an active participant on the Firm Investment Committee as well as Co-Portfolio Manager, Institutional Portfolios, alongside newly appointed Co-Portfolio Manager, Chris Lund. He will continue to be responsible for the Firm’s Technology and Software investments. 
  • Ares Management Corporation Closes Oversubscribed Second Junior Capital Direct Lending Fund
    Ares Management Corporation (“Ares”) (NYSE: ARES), a leading global alternative investment manager, announced today the final closing of Ares Private Credit Solutions II (“APCS II” or the “Fund”). APCS II was oversubscribed with $5.1 billion of commitments compared to its $4.0 billion target and is approximately 50% larger than its 2017 predecessor fund.
  • U.S. Bank Names Troy Remington as Chief Credit Officer
    U.S. Bank announced today that it has named Troy Remington as chief credit officer. Remington has been serving as interim chief credit officer since early August, when the former chief credit officer accepted a new leadership role within the company. Remington will report to Jodi Richard, U.S. Bank’s chief risk officer.