- Chainlink Joins Banco Inter, Microsoft and 7Comm Consortium to Support Trade Finance use Case in Phase 2 of Drex Pilot
- eCapital Welcomes Chris Huntington, SVP, Business Development Officer to its ABL Group
- Granite Comfort Announces Asset-Based Credit Facility to Propel its HVAC Infrastructure-as-a-Service Offering
- Fifth Third Bank, National Association, Names Matt Nipper as Northern Ohio President
- CohnReznick Garners Three Top Workplace Awards
TSL Express Daily Articles & News
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The Rockport Company Looks to Sell Assets and Pursue Financial Reorganization
The Rockport Company, LLC (“Rockport” or “the Company”), a leading global footwear brand known for its superior comfort, announced that it, CB Marathon Midco, LLC, Rockport IP Holdings, LLC, Rockport UK Holdings Ltd. and CB Footwear Services, LLC have commenced voluntary proceedings under Chapter 11 of the United States Bankruptcy Code in the District of Delaware in order to review and restructure its assets for the benefit of all stakeholders and to better position the brand for future growth opportunities.
TSL Express Trending Story
Featured
TSL’s editor-in-chief gathered the heads of several nonbank regional asset-based lenders to discuss the industry from their point of view, including the challenges and opportunities, effects of COVID and their predictions for the upcoming year.
The executives interviewed are Tom Cleveland, managing partner, Access Business Finance; Michael Fussell, president, Aegis Business Credit; J. Brad Leach, president & CEO, Lighthouse Financial Corp.; Rhett Rowe, CEO, Great Lakes Business Credit; and Patrick Trammell, founding member and president, Southeastern Commercial Finance.
The executives interviewed are Tom Cleveland, managing partner, Access Business Finance; Michael Fussell, president, Aegis Business Credit; J. Brad Leach, president & CEO, Lighthouse Financial Corp.; Rhett Rowe, CEO, Great Lakes Business Credit; and Patrick Trammell, founding member and president, Southeastern Commercial Finance.
TSL Express Daily Headlines & News
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U.S. Middle Market Performance Remains Strong, Defying Consensus
January 10, 2024Middle market private companies in the Golub Capital Altman Index grew earnings by 16% during the first two months of the fourth quarter of 2023, the highest year-over-year earnings growth since Q2 of 2021. Revenue grew 7% during the same period.
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Jeffrey B. Dunlop and Maria T. McGuire Named Co-Chairs of Goldberg Kohn's Commercial Finance Group; Succeed Michael Hainen
January 10, 2024Jeffrey B. Dunlop and Maria T. McGuire have been named Co-Chairs of Goldberg Kohn's Commercial Finance Practice Group. They succeed Michael Hainen, who completed his highly successful nine-year term as the practice group leader at the end of 2023.
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SFNet Responds to The BASEL III Endgame Interagency Notice of Proposed Rulemaking Modifying Bank Capital Requirements
January 10, 2024As noted late last year, SFNet’s Advocacy Committee assembled a task force including member banking institutions, legal resources and strategic advisors to address proposed new regulations incorporating Basel III risk weighted capital standards. SFNet has submitted its comment letter. Special thanks to Laura Jakubowski and Richard Kohn from Goldberg Kohn and Bill Mayer from Tiger Group for their leadership on this pivotal matter.
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SLR Credit Solutions Agents Senior Credit Facility For Ansira Partners Inc.
January 10, 2024SLR Credit Solutions (“SLR CS”) announced the closing of a senior credit facility comprised of a revolver and term loan for Ansira Partners, LLC (“Ansira” or the “Company”), an independent global marketing services and solutions company with proprietary channel, website, and advertising technology platforms. The Company provides solutions for Channel Partner Marketing, Local Websites & Marketing, Media & Ad Technology, and CRM & Loyalty.
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Lighthouse Welcomes Dylan Zimmerman
January 10, 2024Lighthouse Financial Corp. is pleased to announce the addition of Dylan Zimmerman to the team as Vice President, Business Development covering the Southeast region including South Carolina, Georgia, Alabama and Florida. Mr. Zimmerman's primary responsibilities will include the marketing of Lighthouse's product offerings and origination of new asset-based loan opportunities.
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Abeona Therapeutics Announces $50 Million Credit Facility
January 9, 2024Abeona Therapeutics Inc. (Nasdaq: ABEO) today announced that it has entered into a $50 million credit facility with the Avenue Venture Opportunities Fund, L.P.
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Online Auction on Jan. 18 Features Like-New Equipment from Colorado ‘Green Hydrogen’ R&D Facility
January 9, 2024A Jan. 18 online auction by Tiger Liquidity Services Energy Partners (TLSEP), a strategic alliance between Tiger Group and Liquidity Services, brings to market assets from AquaHydrex’s 32,000-square-foot, green hydrogen prototype and R&D facility near Denver.
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Encina Private Credit Provides First Out Credit Facility to Support H.I.G. Capital in The Acquisition of Penhall Company
January 9, 2024Encina Private Credit, LLC (“EPC”) is pleased to announce that it has served as Administrative Agent and Collateral Agent for a Senior Secured Credit Facility supporting H.I.G. Capital’s acquisition of Penhall Company (“Penhall” or the “Company”), North America’s largest provider of specialty concrete services. Marathon Asset Management led the facility.
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Monroe Capital Supports TJM Capital Partners’ InCompass™ Add-on Acquisitions
January 9, 2024Monroe Capital LLC (“Monroe”) announced it acted as sole lead arranger and administrative agent on the funding of a senior credit facility to support the growth and add-on acquisitions of Bridgeport and Newman Whitney (“Newman”) by InCompass™, an existing portfolio company of independent sponsor TJM Capital Partners.
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B. Riley Securities Serves as Lead Bookrunner to Diversified Healthcare Trust in $941 Million Senior Secured Notes Offering
January 9, 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 Diversified Healthcare Trust (Nasdaq: DHC) in its $941 million zero coupon senior secured notes offering.
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Stellus Capital Management, LLC Provides Unitranche Financing in Support of Summit Park’s Acquisition of Michelli Weighing & Measurement
January 9, 2024Stellus Capital Management, LLC (“Stellus”) announced today that its affiliates provided senior debt financing and an equity co-investment in support of Summit Park’s acquisition of Michelli Weighing & Measurement (“Michelli” or the “Company”), a leading provider of test and measurement services and equipment.
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Banking Veteran Steven Caligor Joins Greystone as Senior Managing Director, Structured Finance
January 9, 2024Greystone, a leading national commercial real estate finance company, announced that banking industry veteran Steven Caligor has joined the firm as a Senior Managing Director of Structured Finance. In this new role, he will focus on managing and expanding client relationships and channels of loan origination for Greystone within the banking sector.
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MidFirst Bank Extends Western Expansion with Entrance into Nevada Market
January 9, 2024MidFirst Bank, the largest privately held bank in the nation, recently announced its expansion into the Southern Nevada market. This effort is led by Michael Pizzi, who will serve as Senior Vice President and Nevada Market Executive, and a team of bankers from Bank of Nevada who have extensive area expertise, deep regional relationships and a proven track record of delivering exceptional support to their customers and the communities they serve.
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Pebblebrook Hotel Trust Extends 2024 Term Debt to 2028 and Reduces Total Debt
January 8, 2024Pebblebrook Hotel Trust (NYSE: PEB) (the “Company” or “Pebblebrook”) today announced the successful extension of approximately $357 million of its $460 million October 2024 maturity term loan to 2028.
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Rayonier (RYAM) Declares Amendment to Term Loan Credit Agreement
January 8, 2024Rayonier Advanced Materials Inc. RYAM stated that it has reached an agreement with lenders under its Term Loan Credit Agreement to get financial covenant relief from the fourth quarter of fiscal 2023 through the end of fiscal 2024.
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Moritt Hock & Hamroff Welcomes Sean E. Mitchell
January 8, 2024Moritt Hock & Hamroff announced today the addition of Sean E. Mitchell to its Fort Lauderdale office, illustrating the firm's continued growth and expansion in Southeast Florida. Mr. Mitchell joins the firm as Counsel in its Secured Lending and Real Estate Practice Groups.
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FGI Risk Grows Midwest Presence with Addition of Greg McBride
January 8, 2024FGI Worldwide LLC (www.FGIWW.com) (“FGI”), a global leader in the commercial finance industry, has announced the hiring of Greg McBride as Director, FGI Risk. Based out of the Chicago office, Mr. McBride will focus on originating new business opportunities for FGI’s credit insurance brokerage and risk advisory division by developing relationships throughout the Midwest.
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Great Rock Capital Closes $46.3MM Term Loan Facility
January 8, 2024Great Rock Capital, an asset-focused commercial finance company specializing in middle market lending, today announced the closing of a $46.3 million senior secured term loan for a fast-growing equipment management, leasing, and technology company.
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Rosenthal’s West Coast Team Closes Four Transactions Totaling Nearly $30 Million in Final Stretch of 2023
January 8, 2024Rosenthal & Rosenthal, Inc., the leading factoring, asset-based lending, purchase order financing, d2c and e-commerce inventory financing firm in the United States, today announced the completion of four factoring and asset-based lending transactions totaling nearly $30 million.
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US Leveraged Loan Default Rates Move Higher After Two-dozen Defaults in 2023
January 8, 2024After 24 issuers defaulted in 2023, the default rate of the Morningstar LSTA Leveraged Loan Index climbed to 2.05% by issuer count at the end of December, from 1.94% in November. The default rate increased 137 basis points in 2023 from the end of 2022, when it stood at 0.68%, and it's now 179 bps above the record low rate of 0.26% recorded in both April 2022 and December 2007.
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The Secured Lender
SFNet's 80th Annual Convention Issue