- Chainlink Joins Banco Inter, Microsoft and 7Comm Consortium to Support Trade Finance use Case in Phase 2 of Drex Pilot
- SMBC MANUBANK Announces Multiple Key Hires Across Credit, Accounting, and Technology Functions to Support Growth
- RelPro Partners with Propense.ai to Deliver Enriched Data for Accounting and Legal Professionals
- CohnReznick Expands Philippines Footprint
- eCapital Welcomes Chris Huntington, SVP, Business Development Officer to its ABL Group
TSL Express Daily Articles & News
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Today's Top Story
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Blank Rome Assembles Team of Leading Attorneys to Open Dallas Office
Blank Rome LLP announced today the opening of a new office in Dallas—the firm’s 15th office and second in Texas—with the addition of seven attorneys. Aligning with Blank Rome’s core strengths, the Dallas team is a powerhouse combination of leading corporate, real estate, and finance attorneys with national practices. The new office is located at The Crescent in Uptown.
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TSL Express’ senior editor sat down with Tim Burniston, senior advisor, Regulatory Strategy for Wolters Kluwer Compliance Solutions to discuss the results of Wolters Kluwer’s Regulatory & Risk Management Indicator Survey. Burniston advises the Wolters Kluwer Governance, Risk, and Compliance executive leadership team and clients on emerging issues, legislative and regulatory developments, and regulatory strategy.
Now in its tenth year, the Indicator “takes the pulse” of the U.S. banking industry and is based on 10 different factors: compliance, regulatory environmental and risk management factors. The Regulatory & Risk Management Indicator Survey was conducted between July 27-September 9, 2022, and received 328 responses. Survey respondents are primarily from smaller banks, savings and loan institutions and credit unions. Keeping pace with the volume, scope and breadth of regulatory changes topped the list of key concerns facing U.S. banks, credit unions, and other lenders. To learn more about the survey, click here.
TSL Express Daily Headlines & News
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Monroe Capital Supports Equity Group Investments’ Lanter Delivery Systems
February 21, 2024Monroe Capital LLC (“Monroe”) announced it acted as administrative agent and joint lead arranger on the funding of a senior credit facility to provide continued growth financing of Lanter Delivery Systems, an existing portfolio company of Equity Group Investments, the private investment firm founded by Sam Zell.
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SFNet Member Spotlight: Haversine Funding
February 20, 2024In 2018, Stan Vukmer launched Haversine Funding to fulfill a one-stop solution and marketplace need for commercial specialty finance companies to grow their lending platforms. The demand from SME borrowers has never been greater, and the potential for your specialty finance firm's growth is massive.
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Global Reverse Factoring Market Set to Cross $1 Trillion by 2028: Optimizing Working Capital and Strengthening Supplier Relationships Driving Growth, Despite Complex IT Challenges
February 20, 2024The global reverse factoring market has entered a period of accelerated growth, with cutting-edge technologies such as artificial intelligence (AI) and blockchain redefining the financial landscape. This research confirms a compound annual growth rate (CAGR) of 11.02% through to 2028, driven by a surge in demand for working capital optimization and supply chain financing solutions across diverse industries.
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BizCap® Secures a $10MM Asset-Based Line of Credit for Beauty Industry Leader
February 20, 2024BizCap®, a commercial finance firm established in 2002, is proud to announce its successful collaboration with an industry-leading business in the beauty space that has successfully provided premium high-performance tools tailored to the modern woman's lifestyle for over 15 years.
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Wolters Kluwer Auto Lending Insights Suggest Busy Year for U.S. Auto Lenders
February 20, 2024As the market watches for an anticipated drop in U.S. interest rates following recent Federal Reserve Board pronouncements, American auto finance professionals await the potential impacts lower rates will have on their business, says Tim Yalich, auto lending industry expert and Head of Automotive Strategy, Wolters Kluwer Compliance Solutions.
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B. Riley Serves as Lead Left Bookrunner to Office Properties Income Trust in $300 Million Senior Secured Notes Offering
February 20, 2024B. Riley Securities, Inc. ("B. Riley"), a leading middle market investment bank and subsidiary of B. Riley Financial, Inc. (Nasdaq: RILY), is pleased to have served as lead left bookrunner to Office Properties Income Trust (Nasdaq: OPI) (“OPI”), a national real estate investment trust, in its $300 million offering of senior secured notes due 2029.
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Getzler Henrich Names John D. Baumgartner Managing Director in Houston Office
February 20, 2024John D. Baumgartner has joined Getzler Henrich & Associates LLC, (getzlerhenrich.com), one of the nation’s oldest and most respected middle-market corporate restructuring and operations improvement firms, as a Managing Director and Head of the firm’s Houston office.
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KKR Sells Stake in Chord Music Partners Portfolio to UMG and Dundee Partners Investor Consortium
February 20, 2024Universal Music Group (UMG), the world-leader in music-based entertainment, and Dundee Partners, the investment office of the Hendel family, today announced that UMG will acquire a 25.8% interest in Chord Music Partners (Chord) for US$240 million (approximately €223 million when translated into € at today’s current EUR/USD rate), in a deal that values Chord at US$1.85 billion.
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Greenalia Secures $200 Million of 3-Year Credit Facilities
February 20, 2024Greenalia S.A. (the "Company" or "Greenalia"), a leading Spanish developer of renewable power projects, today announced the close of $200 million of three-year credit facilities to support the development of its solar and wind project pipeline in the U.S. Greenalia Power US Advanced II, LLC ("Greenalia US" or the "Borrower") is a subsidiary of Greenalia that acquires, develops, constructs and operates utility-scale solar, wind and energy storage projects in the U.S.
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Montrose Environmental Group Upsizes Credit Facility to $400 Million
February 20, 2024Montrose Environmental Group, Inc. (the “Company,” “Montrose” or “MEG”) (NYSE: MEG), today announced that it has upsized its Senior Secured Credit Agreement (“Credit Facility”) to $400 million. The additional $100 million of availability includes a $50 million increase in the revolving credit facility to $175 million and a $50 million increase to the term loan.
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Gray Announces Closing and Upsizing of Revolving Credit Facility Refinancing and Announces Update on Term Loan and BMI Sale Proceeds
February 20, 2024Gray Television, Inc. (“Gray,” “we,” “us” or “our”) (NYSE: GTN) announced today that it has closed a refinancing and upsizing of its revolving credit facility and has postponed its planned opportunistic refinancing of its $1.19 billion term loan due in 2026, due to recent market conditions.
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Tech-Enabled Private Credit Asset Manager Liquidity Group Strengthens Ties with Institutional Investors with Senior Hires
February 20, 2024Liquidity Group, the global $2.5B AUM asset manager specializing in growth-stage private credit, added three executives to lead its newly formed Financial Institutions Group (FIG). Reggie Mills, Robert Amato and Sonia Peterson now hold roles as Head of FIG; Head of FIG, North America; and Head of FIG, Europe respectively.
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Trident Royalties PLC Announces Completion of Revolving Credit Facility
February 20, 2024Trident Royalties Plc ("Trident" or the "Company") (AIM:TRR)(OTCQB:TDTRF) is pleased to announce that, following the announcement on 29 November 2023, the Company has now signed the facility agreement with BMO Capital Markets and CIBC for a new US$40 million revolving credit facility (the "RCF"), with an option to increase the facility to US$60 million via an accordion feature.
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Golub Capital Acted as Sole Lender on Unitranche Facility for Agilio Software
February 20, 2024Golub Capital acted as Sole Lender on a unitranche facility to support the acquisition of Agilio Software (“Agilio”) by Five Arrows and TA Associates (“TA”). Terms of the deal were not disclosed.
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U.S. Small Businesses Increasingly Upbeat About the Economy—and Their Banks
February 20, 2024-Increased optimism among small businesses about the U.S. economy is carrying over to their banking relationships. Falling inflation, a friendlier Federal Reserve and diminishing concerns about a recession have elevated small business owners’ and executives’ outlook for the economy to the strongest levels since 2022, according to new data from the Greenwich Business Community.
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New England Consulting Partners Marks Milestone Growth with Promotions
February 20, 2024New England Consulting Partners, a national turnaround management firm headquartered in Boston, today announced two senior-level promotions in conjunction with the company’s recent expansion into new industries and geographies, including Europe.
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Republic Business Credit Provides Non-Borrowing Traditional Factoring Facility to Apparel Company
February 20, 2024Republic provided a non-borrowing traditional factoring facility to help reduce the company’s payment risk. Republic gave the company comfort that its shipments would be paid for in full, so the company could focus on growing its new brand.
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Norsk Hydro: Hydro Signs New USD 1,000 Million Revolving Credit Facility
February 20, 2024Credit Agricole CIB and DNB acted as the coordinating Mandated Lead Arrangers and Bookrunners on the transaction. In addition, Danske Bank and ING acted as the Bookrunners, while BNP Paribas, Citibank, Goldman Sachs Bank, Handelsbanken, JP Morgan, Nordea Bank, and SEB participated in the transaction as Mandated Lead Arrangers.
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First Business Bank Announces Commercial Banking Promotion
February 20, 2024Schremp has more than a decade of commercial banking experience. First Business Bank hired Schremp as a credit analyst in 2013. He eventually moved to the commercial banking team.
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Mountain Ridge Capital Provides $29 Million Credit Facility Designer and Manufacturer of Plastic Injection Products
February 20, 2024Mountain Ridge Capital (“MRC”) is pleased to announce the closing of a $29 million senior secured credit facility for a category-leading designer and manufacturer of plastic injection products.
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The Secured Lender
SFNet's 80th Annual Convention Issue