- Oxford Finance Provides $47 Million Credit Facility to Creative Solutions in Healthcare, Inc.
- Flatbay Capital closes a $3.9MM loan for alloy manufacturer
- Agree Realty Corporation Enters into Revolving Credit Agreement
- MidCap Business Credit closes on a $5,000,000 asset-based credit facility for Premier Engineered Products
- CIBC Innovation Banking Provides Growth Capital to Andgo
TSL Express Daily Articles & News
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Paul Hastings Adds Premier Restructuring and Private Credit Team, Further Strengthening Market-Leading Restructuring and Finance Platforms
In a move that further strengthens its market-leading restructuring and global finance platforms, Paul Hastings LLP announced today that a team of top-tier restructuring, private credit and special situations lawyers has joined the firm across multiple locations.
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Interview with Savi Hussain, Member of SFNet’s Diversity, Equity & Inclusiveness Committee
Savitri Ramjohn Hussain (Savi) migrated from Guyana, South America in 1984. She is a mom of four children and has three amazing grandkids. Savi Hussain serves as the head of underwriting and senior VP at Iron Horse Credit. She comes with a wealth of industry knowledge and 25 years of experience in asset-based lending including accounts receivable finance, inventory finance, purchase order finance and supply chain finance.
TSL Express Daily Headlines & News
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Juan Santana Joins Valley Bank as 1st VP, Corporate Banking
July 15, 2024Valley Bank on Thursday said it hired Juan Santana to fill the role of first vice president, corporate banking, and relationship manager for New Jersey and Rockland County.
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Embracer Group Secures New Eur 600 Million Revolving Credit Facility
July 15, 2024Embracer Group AB (“Embracer”) has secured a new EUR 600 million revolving credit facility with a two-year tenor, with an option to extend for an additional year. The new facility replaces Embracer’s remaining SEK 4.8 billion (approximately EUR 420 million) revolving credit facility, which matures in May 2025.
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Russel Metals Renews and Enhances its Credit Facility
July 15, 2024Russel Metals Inc. (TSX: RUS) announces that it has renewed and extended its credit facility with a syndicate of banks led by RBC Capital Markets. The new credit facility has total availability of $600 million and is comprised of: (i) a $400 million revolving credit facility with a maturity of July 2028; (ii) a $50 million letters of credit facility with a maturity of July 2028; and (iii) a $150 million revolving credit facility with a maturity of July 2026.
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Inflation Remains Top Problem for Main Street
July 15, 2024The NFIB Small Business Optimism Index reached the highest reading of the year in June at 91.5, a one-point increase from last month. The last time the index was higher was in December of 2023 when it reached 91.9. Even so, this marks the 30th month below the historical average of 98. Inflation is still the top small business issue, with 21% of owners reporting it as their single most important problem in operating their business, down one point from May.
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Astronics Corporation Refinances Debt with Expanded Revolver and Lower Cost Term Loan
July 15, 2024Astronics Corporation (Nasdaq: ATRO), a leading provider of advanced technologies for global aerospace, defense and other mission critical industries, today announced it has amended and expanded its revolving line of credit and refinanced its term loan. The refinancing provides improved liquidity, lower cash costs, and greater financial flexibility for the Company.
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Calvert Impact Announces National Program to Capitalize Small Businesses
July 15, 2024Calvert Impact today announced the launch of Access by Calvert Impact, a national public-private partnership to support small businesses, with the closing of an $140 million warehouse credit facility from the Urban Investment Group (UIG) at Goldman Sachs Alternatives.
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Edge Capital Lending LLC Appoints Dmitri Beregovski as Chief Financial Officer and Welcomes Two New Collateral Analysts
July 15, 2024Edge Capital Lending, LLC (“Edge”), a national disruptor in the non-bank asset-based lending market, is pleased to announce the appointment of Dmitri Beregovski as Chief Financial Officer (CFO). Additionally, Edge is excited to welcome Mantika Gardner and Marilyn Barnes as Collateral Analysts to support the company's expanding portfolio.
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Oppenheimer Announces Additions to the High Yield and Distressed Debt Team
July 15, 2024Oppenheimer & Co. Inc. (Oppenheimer) — a leading investment bank, wealth manager and a subsidiary of Oppenheimer Holdings (NYSE: OPY) —announced today the continued expansion of its Fixed Income Division with the addition of 10 more High Yield and Distressed Debt Team members.
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Republic Business Credit Provides a $3 Million Factoring Facility to Fuel Rapid Growth of LA-based Apparel Manufacturer
July 15, 2024Based on a referral from a well-known California CPA firm, a rapidly expanding apparel manufacturer has chosen Republic Business Credit as its preferred factoring partner. Facing imminent deadlines for spring shipments, the LA-based clothing manufacturer sought a dynamic financing solution capable of scaling with its accelerated growth.
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eCapital Announces Peter Dahill as New CFO, Cris Neely Transitions to Strategic Advisor Position
July 15, 2024eCapital Corp. ("eCapital"), a leading tech-enabled finance provider for middle-market businesses in North America and the U.K., announces the appointment of Peter Dahill as Chief Financial Officer (CFO). This strategic move demonstrates eCapital’s commitment to bolstering its executive team and advancing its fintech roadmap while ensuring seamless leadership succession.
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Good Natured Products Inc. Issues Update on Restructuring of Business Operations
July 15, 2024The Company has also entered into a debtor-in-possession financing agreement (the "DIP Financing") with Wells Fargo Capital Finance Corporation Canada to fund operations and restructuring efforts, including the CCAA proceedings, implementation of the SISP and any Transaction arising from the SISP.
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Global Self Storage Extends $15 Million Revolving Credit Facility
July 15, 2024Global Self Storage, Inc. (NASDAQ:SELF), a real estate investment trust that owns, operates, manages, acquires, and redevelops self-storage properties, has extended its $15 million revolving credit facility with The Huntington National Bank for another three years with a one-year extension option available thereafter.
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Elme Communities Announces New $500 Million Credit Facility
July 15, 2024Elme Communities (NYSE: ELME), a multifamily owner and operator, announced today that it has entered into a new $500 million credit facility to replace the prior revolving credit facility which had been due to mature in August 2025.
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TD Bank Appoints Steve Moroney Commercial Market President for Connecticut and Rhode Island
July 15, 2024TD Bank, America’s Most Convenient Bank®, announced it has appointed Steve Moroney as its Commercial Market President for Connecticut and Rhode Island. Moroney is based in New Haven, Connecticut.
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Macquarie Group Leads $300 Million Syndicated Financing for Precious Metals Merchant Auramet
July 15, 2024Auramet International, Inc. (“Auramet”), a leading precious metals merchant, is pleased to announce that it has closed a $300 million syndicated revolving credit facility (the “Facility”) led by Macquarie Group (“Macquarie”). Macquarie acted as Mandated Lead Arranger, Bookrunner and Administrative Agent for the Facility, which was well oversubscribed.
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Curtis Glovier, Previously a Managing Director and Investment Committee Member at Fortress Investment Group, joins Star Mountain Capital as Managing Director and Strategic Portfolio Officer
July 15, 2024Star Mountain Capital, LLC (“Star Mountain”), a specialized investment manager with over $4.0 billion in assets under management (committed capital including debt facilities as of 6/30/2024) focused on generating defensive and premium yield and total returns from the less efficient and resources-intensive market of U.S. private small and medium-sized businesses (the “lower middle-market”), is pleased to announce that Curtis Glovier has increased his involvement with Star Mountain from a Senior Advisor to a full-time role of Managing Director and Strategic Portfolio Officer.
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Barbara Stam Appointed as CEO of ABN AMRO Asset Based Finance
July 15, 2024ABN AMRO has appointed Barbara Stam as CEO of ABN AMRO Asset Based Finance (ABF), the company said in a statement. Stam’s background, experience, and career achievements mean she is well-positioned to lead ABF into the future.
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BRG’s Corporate Finance Practice Adds Jeff Stern as Managing Director, Deepening Lender Advisory Expertise
July 15, 2024BRG today announced that Jeff Stern has joined the firm as a managing director in its Corporate Finance practice based in the New York City office, further expanding the firm’s lender advisory and turnaround and restructuring services.
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Online Auction Features Pristine Excess Equipment from Renewable Energy Tech Firm
July 15, 2024A Tiger Group auction on July 23 features late-model, state-of-the-art equipment that is excess to the ongoing operations of a renewable energy technology company.
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United Capital Funding Issues $11.7MM in Total Credit Facilities in Q2 2024
July 15, 2024Factoring deals include: $8,500,000 credit facility awarded to a federal government contractor providing education and training support; $1,000,000 credit facility awarded to a Texas-based detergent manufacturing company; $750,000 credit facility awarded to a Georgia-based temporary staffing firm.
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