TSL Express Daily Articles & News
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Siena Lending Group Closes A $25 Million Credit Facility To Finance Acquisition Of National Railway Equipment Co.
Siena Lending Group LLC ("Siena")is pleased to announce the closing of a $25 million asset-based credit facility for TRM NRE Acquisition LLC to finance the acquisition of certain assets of National Railway Equipment Co. (“NRE” or the “Company”). Siena’s revolving credit and delayed draw term loan facility was closed in only 19 days to finance TRM Equity’s (“TRM”) purchase of certain assets of NRE and their ongoing working capital needs. Armory Securities, LLC (“Armory”) acted as the Company’s advisor on their restructuring, sale and financing.
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In November of 2021, SFNet announced its first Cross-Border Finance Essay Contest, sponsored by Goldberg Kohn Ltd. Members of SFNet’s International Finance and Development Committee judged the essay submissions on content, originality, clarity, structure and overall contribution to furthering and expanding understanding and discourse within the field of cross-border finance. This essay tied for third place.
The authors of the winning essays have been invited to participate on a panel at SFNet’s 78th Annual Convention in Austin, TX, Nov. 9-11. The second place and first place winners will be published in the October and November issues of The Secured Lender, respectively.
TSL Express Daily Headlines & News
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Willkie Adds Prominent Restructuring Lawyer Simon Baskerville in London
December 4, 2023Willkie Farr & Gallagher LLP today announced that Simon Baskerville has joined the Firm as a partner in the Business Reorganization & Restructuring Department, based in the Firm’s London office. He will serve as a Co-Chair of the European Restructuring Group.
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Clay Hale joins the Corporate & Investment Bank as Co-head of Equity Capital Markets
December 4, 2023Wells Fargo & Company (NYSE: WFC) today announced that Clay Hale has joined the Corporate & Investment Bank (CIB) as co-head of Equity Capital Markets (ECM) within the Banking division. He will co-lead the ECM team alongside Jill Ford, who joined the Company in September of this year.
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TD Securities Announces Significant Expansion of Its Global Financial Institutions Group
December 4, 2023TD Bank Group (TSX: TD) (NYSE: TD) ("TD") today announced the significant expansion of its Global Financial Institutions ("FIG") Investment Banking coverage in the US as well as other product areas, including Equity Sales, Equity Capital Markets, Debt Capital Markets, and Equity Research. With these additions, the TD Securities Global FIG team will offer a full suite of products and services to a growing group of Financial Institutions clients.
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Peter J. Rooney and James Z. Fang Join Cahill’s New York Office as M&A and Corporate Advisory Partners
December 4, 2023Cahill Gordon & Reindel LLP announced today that Peter J. Rooney and James Z. Fang have joined the firm as partners in the M&A and Corporate Advisory practice.
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Lakeland Bank Strengthens their Asset Based Lending Team with Industry Veterans Kaestner and Williams
December 4, 2023Following the announcement of Kenneth Kaestner’s appointment to Lakeland’s Asset Based Lending team in October, the Bank is proud to announce Diane Williams has also joined the team serving as Vice President, Senior Relationship Manager.
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Eclipse Business Capital Provides $40mm ABL Credit Facility to a Canadian Media Company
December 4, 2023Eclipse Business Capital LLC (“EBC”) announced that it has provided a $40 million senior secured ABL credit facility to a Canadian media company. The credit facility is secured by accounts receivable and inventory.
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Mountain Ridge Capital Provides $25 Million Credit Facility to Exercise Equipment Company
December 4, 2023Mountain Ridge Capital ("MRC") is pleased to announce the closing of a $25 million senior secured credit facility to a U.S.-based designer and marketer of fitness equipment.
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Macquarie Asset Management Hires Vivek Bommi as Head of Leveraged Credit
December 4, 2023Macquarie Asset Management today announced the appointment of Vivek Bommi as Head of Leveraged Credit, one of the three capability offerings of the firm’s Credit platform, along with Fixed Income and Private Credit. In this role, he will have overall responsibility for the firm’s Leveraged Credit capabilities including portfolio, team and business management, including being named a portfolio manager on the team’s registered high yield and bank loan funds in the US.
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Christopher Cahill Joins Dykema’s Corporate and Finance Group in Chicago
December 4, 2023Dykema, a leading national law firm, today announced the addition of Christopher Cahill as a Senior Counsel in the firm’s Corporate and Finance Practice Group resident in the firm’s Chicago office. Cahill joins Dykema from Aegis Law and after practicing as a Partner with L&G Law Group, LLP for more than a decade.
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Exectras Announces Funding from Tacora Capital
December 4, 2023Exectras, the go-to provider for SMBs seeking everyday business services, including merchant services, payroll, health insurance and workers’ compensation, today announced the completion of debt financing from Tacora Capital for up to $30 million.
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Fifth Third Bank Named ‘Bank of the Year U.S.’ by The Banker
December 4, 2023Fifth Third is proud to announce it has been named “Bank of the Year” for the U.S. 2023 by The Banker. This annual award program recognizes industry-wide excellence within the global banking community.
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Bridge Bank Supports Gooten’s Growth With $3.5 Million Venture Debt Term Loan
December 4, 2023Bridge Bank today announced that its Technology Banking Group closed a $3.5 million venture debt term loan with Gooten, a leading technology and fulfillment company based in New York. Gooten will use the funds for continued growth and expansion.
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Getzler Henrich & Associates’ Charvi Gupta Honored As a “40 Under 40” by the American Bankruptcy Institute
December 4, 2023Charvi Gupta, a Director at Getzler Henrich & Associates LLC (getzlerhenrich.com), one of the nation’s oldest and most respected middle-market corporate restructuring and operations improvement firms, has been honored as one of the American Bankruptcy Institute’s (ABI) 40 Under 40 Emerging Leaders in Insolvency Practice for 2023.
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Cadence Bank Completes the Sale of Cadence Insurance, Inc. to Arthur J. Gallagher & Co.
December 4, 2023Cadence Bank ("Cadence" or the "Company") (NYSE: CADE) announced it has closed the previously disclosed sale of its insurance operations, Cadence Insurance, Inc. ("Cadence Insurance"), to Arthur J. Gallagher & Co. ("Gallagher") (NYSE: AJG) for $904 million in cash, subject to customary purchase price adjustments
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Golub Capital Continues APAC Expansion with Hong Kong Hire
December 1, 2023Golub Capital today announced that Amy Chiang has joined as Managing Director, Greater China and Southeast Asia and will be based in the Firm’s newly-opened Hong Kong office. In her new role, she will be dedicated to building and strengthening relationships with investors in the Greater China and Southeast Asia region.
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Celtic Capital Corporation Provides Accounts Receivable Line of Credit for an Oregon-based Provider of Fully-managed, Cloud-based Services
December 1, 2023Celtic Capital Corporation today announced its most recent new client relationship – an Oregon-based provider of fully-managed, cloud-based services that allow clients to maximize the value of technology while minimizing their risks.
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First Citizens Bank Arranges $75 Million in Financing for Turning Point Brands
November 30, 2023First Citizens Bank today announced that its Asset-Based Lending business, part of the bank’s Commercial Finance group, served as co-collateral agent on $75 million in financing for branded consumer products company Turning Point Brands Inc.
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nFusion Capital Provides $7 Million Factoring Facility for Land & Sea Industries, LLC
November 30, 2023Land & Sea Industries, LLC (L&S) is a full-service heavy metal fabrication and manufacturing solutions company located in Texas. They provide a wide range of services, including commercial construction, high pressure piping, structural fabrication, and more. Their in-depth knowledge of the energy industry enables them to offer added value to clients.
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TD to Appoint Alan MacGibbon as Chair of the Board
November 30, 2023TD Bank Group is pleased to announce the appointment of Alan MacGibbon as Chair of the Board of Directors, effective February 1, 2024. Alan will succeed Brian Levitt, who will also retire from the Board following the Bank's annual meeting of shareholders on April 18, 2024.
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Access Capital Provides Credit Facility to American Management Association
November 30, 2023Since 1923, the American Management Association (AMA) has been transforming the way people think, work and achieve their business goals.
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The Secured Lender
SFNet's 80th Annual Convention Issue