- RelPro Partners with Propense.ai to Deliver Enriched Data for Accounting and Legal Professionals
- Gunvor Secures US $2.265 Billion Sustainability-linked, Multi-currency Revolving Credit Facility
- Beacon Pointe Advisors Hires CFO Jon Frojen
- Gray Television Makes Significant Progress on Debt Reduction and Replenishes Authorization for Additional Debt Reduction
- Gateway Trade Funding Completes 17 Stretch Finance Transactions Totaling Almost $5,000,000
TSL Express Daily Articles & News
To submit company news and press releases toTSL Express, email tslexpress@sfnet.com.
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SFNet Announces Governance Boards Leadership
The Secured Finance Network (SFNet) Member Directors have elected and the Executive Committee has approved the FY25 SFNet Management Committee and Executive Committee members. In addition, the Secured Finance Foundation (SFFound) Member Donors have elected and the SFFound Board has approved the FY25 SFFound Board and Officers.
TSL Express Trending Story
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Navigating cross-border secured financing presents a complex challenge, where choice of law and conflict of law rules create an intricate maze. Unlike straightforward domestic transactions under the Uniform Commercial Code, international financing demands careful scrutiny of diverse jurisdictions’ laws. David Morse of Otterbourg P.C. explores the practical steps lenders must take to secure rights over assets like inventory and receivables across multiple countries to ensure the lender has the benefit of such security. Part 2 of this article will appear in the November/December issue.
TSL Express Daily Headlines & News
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H.I.G. Capital Announces Closing of Significantly Oversubscribed $2 Billion U.S. Lower Middle Market Fund, H.I.G. Capital Partners VII
October 29, 2024H.I.G. Capital ("H.I.G." or the "Firm"), a leading global alternative asset management firm with $65 billion of capital under management, today announced the closing of H.I.G. Capital Partners VII ("Fund VII"). Significantly oversubscribed, Fund VII closed with $2 billion of capital commitments and continues the Firm's highly successful strategy of making control equity investments in U.S. lower middle market companies.
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JPalmer Collective Helps Peace Coffee Brew Success
October 29, 2024JPalmer Collective (JPC), an asset-based lending company committed to funding high-growth, women-led and natural products companies, today announced the closing of a line of credit to Peace Coffee, a female-founded company dedicated to delivering exceptional, sustainably-sourced coffee while fostering positive social and environmental impact.
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Republic Business Credit Funds $1.25M Factoring Facility for California Natural Food Manufacturer
October 29, 2024When a California-based natural food manufacturer outgrew its small business loan, it sprang into action through a new partnership with Republic Business Credit. Republic was introduced by a lower middle market debt advisor in the natural food industry to help the company navigate this exciting period of growth.
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Gordon Brothers Agents $150M Debtor-in-Possession Term Loan for Big Lots
October 29, 2024Gordon Brothers, the global asset experts, has agented a $150 million debtor-in-possession (DIP) term loan for Big Lots Inc. The U.S. closeout retailer focused on value will use the DIP loan during ongoing Chapter 11 bankruptcy proceedings to support the going-concern sale and stalking horse bid.
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Porter Capital Provides $8 Million in Funding to Support Growth of Multisector Staffing Company
October 29, 2024Porter Capital, a leading provider of invoice factoring and accounts receivable financing solutions, has provided an $8 million credit facility to a Boston, MA-based staffing agency specializing in life sciences, renewable energy, and information technology. This infusion of capital will support the company’s efforts to expand its operations and respond to the increasing demand for specialized talent across these high-impact sectors.
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Tempur Sealy Refinances $1.65B Credit Line Through 13 Lenders
October 28, 2024Tempur Sealy International has refinanced its credit lines with 13 different lenders that includes a $1.15 billion revolving credit facility, a $500 million term loan facility and an incremental facility that allows up to $850 million and additional amounts.
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DailyPay Boosts Financial Backing with USD 100 mln Credit Facility
October 28, 2024DailyPay, a provider of earned wage access solutions, has announced a USD 100 million increase in its secured credit facility from Citi.
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Go Global Snaps Up Hatch Maternity Brand
October 28, 2024The label will team up with Janie and Jack, an upscale children’s apparel retailer the investment platform acquired from Gap Inc. in 2021.
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Austin Financial Services Announces Significant Growth
October 28, 2024Austin Financial Services is pleased to announce significant growth in the first three quarters of 2024, supported by a strong backlog of deals expected to close in Q4.
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nFusion Capital and Iron Horse Credit Provide $5.5 million Funding to Support Kitchenware Wholesaler
October 28, 2024nFusion Capital and Iron Horse Credit announced the funding of a $5.5 million line of credit to a wholesaler of kitchenware, chinaware, and kitchen accessories. The financing will support the Company’s working capital needs and provide a steady flow of capital during seasonal fluctuations in demand for its products.
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Entourage Health Increases Senior Secured Credit Facility
October 24, 2024Entourage Health Corp. (TSX-V: ENTG) (OTCQX: ETRGF) (FSE: 4WE) ("Entourage" or the "Company"), a Canadian producer and distributor of award-winning cannabis products, confirmed today it has signed an amendment (the "Amendment") to its senior secured amended and restated credit facility entered into on January 31, 2023 (the "Credit Facility") with an affiliate of the LiUNA Pension Fund of Central and Eastern Canada ("LPF").
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Las Vegas Sands Secures new $4.18 Billion Credit Facility
October 24, 2024Las Vegas Sands Corp. (NYSE:LVS) has entered into a new credit agreement and terminated an existing one, as per a recent 8-K filing with the U.S. Securities and Exchange Commission.
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SFNet Advocacy Alert: Private Funds Rule Summary and Fifth Circuit Decision
October 24, 2024In a significant development for the private funds industry, the U.S. Court of Appeals for the Fifth Circuit has unanimously vacated the SEC's 2023 Private Funds Rule, marking a major setback for the Commission's efforts to enhance regulation of private fund advisers. The ruling, issued this summer, found that the SEC exceeded its statutory authority in implementing the sweeping regulatory framework that would have imposed substantial new disclosure requirements and restrictions on the $26 trillion private funds industry.
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Sallyport Commercial Finance Provides Staffing Firm With $500,000 to Power New Renewable Division
October 24, 2024The client, referred by Sallyport's account executive Olivia Hudson, is expanding into a new division focused on renewable energy and this funding will enable them to meet their payroll obligations and drive business growth as they break into a new sector.
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First Business Financial Services, Inc. Earns Prestigious Piper Sandler 2024 Sm-All Stars Recognition
October 24, 2024First Business Financial Services, Inc., (Nasdaq: FBIZ), the parent company of First Business Bank, proudly announces its selection by Piper Sandler for the prestigious Sm-All Stars Class of 2024.
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Gridiron Capital Expands Its Team with New Talent
October 24, 2024Gridiron Capital, LLC (“Gridiron Capital”), an investment firm focused on partnering with founders, entrepreneurs, and management teams, is pleased to announce the following Investment and Accounting & Finance team additions: Caroline Sizer as Vice President of Portfolio Analytics, Paul Addeo as Accounting Manager, Elisa Gashaj as Tax Manager, and Will Atkins and Jemarc Walters as Investment Associates.
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Online Auction Features More than 900 Lots of Production Rental Gear from Global Leader PRG
October 24, 2024A Tiger Group online auction on November 5 will offer over 900 lots from PRG’s extensive rental inventory of professional production equipment. PRG, with offices worldwide, offers the industry’s largest inventory of professional production gear.
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American Tire Distributors Enters Chapter 11 to Restructure Debt
October 24, 2024American Tire Distributors (ATD) has commenced voluntary Chapter 11 proceedings in the US Bankruptcy Court for the District of Delaware. The restructuring plan aims to transition ownership of the company while addressing significant debt obligations.
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National Funding Secures Warehouse Funding from Forbright Bank
October 24, 2024Dave Gilbert, CEO of National Funding and its recently launched holding company FairSquare, announces a bank line of credit commitment for $83.25 million from Forbright Bank (with a total expansion capacity of up to $150 million).
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Comvest Credit Partners Expands Senior Credit Originations Team
October 24, 2024Comvest Credit Partners (“Comvest”), a leading provider of flexible direct financing solutions to middle-market companies, is pleased to announce that Kevin Blitz has joined the direct lending investment platform as a Managing Director.
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The Secured Lender
SFNet's 80th Annual Convention Issue