- First Foundation Inc. Announces Retirement of CEO Scott F. Kavanaugh and Appointment of Thomas C. Shafer as Successor
- SFNet New Member Spotlight: CB&S Bank
- PlainsCapital Bank Welcomes Jorge Vernaza
- Hedgeweek Names CohnReznick 2024 Best Audit Firm: Overall
- Gateway Trade Funding Completes 17 Stretch Finance Transactions Totaling Almost $5,000,000
TSL Express Daily Articles & News
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KKR Taps Pietrzak as Sole Global Head of Private Credit
Daniel Pietrzak, a partner at KKR & Co., has been named the alternative money manager's sole global head of private credit, a spokeswoman said in an email Friday. Mr. Pietrzak was named the sole global head following the departure of fellow partner and co-head of private credit Matthieu Boulanger to pursue other opportunities, the spokeswoman said.
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Bed, Bath, and Back to the Supplier: A Supplier’s Right to Reclaim Ownership of Inventory in the Netherlands
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.
TSL Express Daily Headlines & News
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Gateway Trade Funding Provides a $1,000,000 Purchase Order Facility to a Vitamin Supplement Company
November 28, 2023A vitamin supplement company secured a promising contract with payment terms beyond their current cash flow capabilities. Keen to take advantage of this significant opportunity, a broker referred them to Gateway Trade Funding.
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Yieldstreet and Garrington Capital Announce Joint Venture Focused on Equipment Finance
November 28, 2023Yieldstreet, a leading private markets investing platform, and Garrington Capital US Corp. (“Garrington”), a leading provider of capital solutions to small- and mid-sized enterprises in the United States and Canada, today announce a new joint venture focused on opportunities in the equipment finance sector.
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Wells Fargo Announces Expansion at Hudson Yards
November 28, 2023Wells Fargo today announced its formal plans to expand its Hudson Yards office footprint and create a better, more collaborative employee experience with the purchase of additional space at Hudson Yards. This transaction represents a significant investment in the New York City (NYC) market and an opportunity to bring most NYC-based Wells Fargo employees together in one location for improved collaboration and access to new, more modern workspaces, technology, and amenities.
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Closing the Revenue Gap for U.S. Diverse-owned Midsize Businesses Presents a $1.3T Opportunity, according to Research from JPMorgan Chase and Next Street
November 28, 2023Conducted and analyzed by Next Street, the research reveals that while midsize businesses generate significant revenue nationally and locally, there is an opportunity to better support them as they face headwinds such as increasing competition, slowing revenue growth and an uncertain economic outlook.
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Star Mountain Closes $1.2 Billion Direct Lending Fund IV Above Target
November 28, 2023Star Mountain Capital, LLC ("Star Mountain"), a private credit and secondaries specialist investment firm with approximately $3.75 billion in assets under management (committed capital including debt facilities as of 10/31/2023) focused on generating premium returns from the less efficient and labor-intensive market of U.S. private small and medium-sized businesses (the “lower middle-market”), is pleased to announce that it has closed its Value-Added Direct Lending Fund IV above its $750 million LP capital target at approximately $1.2 billion (committed capital including debt facilities).
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DigitalBridge Announces Total Commitments of $1.1 Billion for Digital Infrastructure Credit Strategy
November 28, 2023DigitalBridge Group, Inc. (NYSE: DBRG) ("DigitalBridge"), today announced the close of its digital infrastructure credit fund, DigitalBridge Credit (Onshore), LP, together with its parallel vehicles, (collectively “DBC” or the “Fund”), which raised aggregate commitments of $1.1 billion inclusive of related co-investment commitments alongside the Fund.
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Piper Sandler Strengthens Healthcare Investment Banking Team with the Addition of Brandon Rice
November 28, 2023Piper Sandler Companies (NYSE: PIPR), a leading investment bank, is pleased to announce the addition of Brandon Rice as a managing director within the healthcare investment banking group. Rice joins Piper Sandler with 17 years of healthcare investment banking experience in strategic and capital markets transactions across the med-tech sector.
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Jamal Hammoud Joins Nuveen Private Capital Team to Strengthen Churchill and Arcmont’s Presence in the Middle East
November 28, 2023Churchill Asset Management and Arcmont Asset Management, the U.S. and European operating companies of Nuveen Private Capital, today announced the appointment of Jamal Hammoud as Managing Director and Senior Investment Strategist. Mr. Hammoud will be responsible for supporting and amplifying Churchill’s and Arcmont’s (collectively, Nuveen Private Capital’s) presence and fundraising efforts in the Middle East.
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Bladex Acts as Joint Lead Arranger and Bookrunner for AES Dominicana Renewable Energy US$368M Non-recourse Term Loan and US$27M Reserve Letter of Credit Facilities
November 27, 2023Banco Latinoamericano de Comercio Exterior - Bladex (NYSE:BLX), announced today the successful closing of a US$368 million A/B Loan Facility, under IDB Invest´s A/B Loan Structure, and US$27 million associated Debt Service Reserve Letter of Credit Facility.
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Banc of California and PacWest Bancorp Receive Stockholder Approvals for their Merger
November 27, 2023Banc of California, Inc. (“Banc of California”) (NYSE: BANC) and PacWest Bancorp (“PacWest”) (Nasdaq: PACW) today jointly announced that, at their respective special meetings of stockholders held earlier today, they each received the necessary stockholder approval for the proposed combination of Banc of California and PacWest.
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Great Elm Capital Corp. (“GECC”) Extends Revolving Credit Facility, Lowers Cost of Capital
November 27, 2023Great Elm Capital Corp. (the “Company” or “GECC”), (NASDAQ: GECC), a business development company, today announced it has amended its existing $25 million revolving line of credit (the “Revolver”).
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Longroad Energy Secures $600 Million in Debt Financing to Power Expansion of its Renewable Energy Portfolio
November 27, 2023Longroad Energy Holdings, LLC ("Longroad"), a U.S.-based renewable energy developer, owner and operator, announced today that it has closed $600 million in debt financing to further accelerate the growth of its wind, solar, and battery portfolio. The credit facility is composed of a $275 million term loan, a $175 million revolving credit facility, and a $150 million letter of credit facility.
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Fluence Energy, Inc. Announces Closing of New $400 Million Asset-Backed Lending Facility
November 27, 2023Fluence Energy, Inc. (Nasdaq: FLNC) (“Fluence” or the “Company”), a leading global provider of energy storage products and services and optimization software for renewables and storage, today announced that it has entered into a new four-year $400 million Asset Backed Lending (“ABL”) credit facility maturing in November 2027.
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RVL Completes Financial Restructuring
November 27, 2023RVL Pharmaceuticals, Inc. (“RVL” or the “Company”), a specialty pharmaceutical company focused on the commercialization of UPNEEQ® (oxymetazoline hydrochloride ophthalmic solution), 0.1%, for the treatment of acquired blepharoptosis, or droopy eyelids, in adults, today announced that it and its wholly-owned U.S. operating subsidiary RVL Pharmacy, LLC (collectively, the “RVL Subsidiaries”), successfully emerged from their Chapter 11 cases on November 22, 2023
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Hogan Lovells Expands Energy Transition Capabilities in Washington, D.C. with Addition of Michael Bonsignore
November 27, 2023Global law firm Hogan Lovells today announced that Michael Bonsignore has joined the Corporate & Finance practice group in Washington, D.C. as a partner in the firm’s Infrastructure, Energy, Resources, and Projects (IERP) practice area. He joins from Clifford Chance.
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Bibby Financial Services Chooses FGI T.R.U.S.T.™ for Strategic Partnership
November 27, 2023FGI Worldwide LLC (“FGI”), a global leader in commercial finance, today announced that the UK’s largest independent invoice finance provider, Bibby Financial Services (“BFS”), has chosen FGI T.R.U.S.T. ™ as its software platform for bad debt protection management and administration.
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Marathon Asset Management Provides Creative Capital Solution to Support Bridger Aerospace’s Growth
November 27, 2023Bridger Aerospace Group Holdings, Inc. ("Bridger" or "Bridger Aerospace"), (NASDAQ: BAER, BAERW), one of the nation’s largest aerial firefighting companies, announced it has entered into a joint venture partnership with Marathon Asset Management L.P. and Avenue Capital’s Sustainable Solutions Fund.
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Greencore Agrees £350m Sustainability Linked Credit Facility
November 27, 2023Food group Greencore said it has agreed a new sustainability-linked credit facility worth £350 million that will give the company financial flexibility as it targets growth.
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Xerox Corp. (XRX) Enters Agreement for $550M Credit Facility
November 27, 2023On November 17, 2023 (the “Closing Date”), Xerox Corporation (“Xerox”), as borrower, its parent company, Xerox Holdings Corporation (the “Company”), and certain subsidiaries of Xerox entered into a first lien term loan credit agreement (the “Credit Agreement”) with Jefferies Finance LLC, as administrative agent and collateral agent (the “Agent”) and the lenders party thereto (the “Lenders”), providing for a first lien senior secured term loan credit facility (the “TLB”) of $550.0 million to be extended to Xerox on the Closing Date
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Erik Olson Joins BerryDunn to Expand Transaction Advisory Services
November 27, 2023The team provides in-depth financial data analysis to help businesses plan and structure for the future. According to Seth Webber, Valuation Practice Group Principal, “Erik has a long career specializing in project finance, M&A, and corporate finance transactions. His unique skill set deepens our ability to meet the strategic business needs of our expanding customer base.”
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The Secured Lender
SFNet's 80th Annual Convention Issue