- S&P Global Market Intelligence's Big Picture M&A Report Examines the Drivers that Can Set the Pace for the Recovery in Dealmaking
- Chicago Atlantic Provides Term Loan to One of World’s Largest Cloud-Based In-Store Clienteling Software Providers
- Cerebro Capital Facilitates Over $90MM in Financings for 10 Companies
- Gateway Trade Funding Completes 17 Stretch Finance Transactions Totaling Almost $5,000,000
- Gordon Brothers Offering for Sale by Private Treaty Workboat A.M.S. Swissco and Barge A.M.S. 1806
TSL Express Daily Articles & News
To submit company news and press releases toTSL Express, email tslexpress@sfnet.com.
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Bed Bath & Beyond Files for Bankruptcy Protection After Failed Turnaround Efforts
Bed Bath & Beyond on Sunday filed for Chapter 11 bankruptcy protection after it failed in several last-ditch efforts to raise enough money to keep the company alive
Sixth Street has agreed to lend Bed Bath $240 million in debtor-in-possession financing so the company can have the cash flow necessary to support operations through the bankruptcy process. Bed Bath said it plans to continue to pay employees wages and benefits, maintain customer programs and honor obligations to vendors.
Sixth Street has agreed to lend Bed Bath $240 million in debtor-in-possession financing so the company can have the cash flow necessary to support operations through the bankruptcy process. Bed Bath said it plans to continue to pay employees wages and benefits, maintain customer programs and honor obligations to vendors.
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Summary of Approved California Regs
As many of our members are aware, legislation is popping up around the country requiring providers of commercial financings to make certain disclosures to their clients with respect to the costs associated with a commercial financing product being provided to a borrower. The first such legislation was introduced in California in 2018 by Senator Steve Glazer, which impacted commercial financing products for $500,000 or less.
TSL Express Daily Headlines & News
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Liberty Media Corporation Announces Repricing of Formula 1 First Lien Term Loan B
October 9, 2023Liberty Media Corporation (“Liberty”) (Nasdaq: LSXMA, LSXMB, LSXMK, FWONA, FWONK, LLYVA, LLYVK) announced today the closing of the repricing of the $1,700 million first lien Term Loan B of a subsidiary of Delta Topco Limited, the Liberty subsidiary which holds all of its interests in Formula 1, the iconic global motorsports business.
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Citizens Advises VTG on its Recapitalization by A&M Capital Partners
October 9, 2023Citizens M&A Advisory announced today that it served as financial advisor to VTG, an industry-leading provider of modernization and digital transformation solutions to Defense and Intelligence customers, on its recapitalization by A&M Capital Partners.
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SFNet Member Spotlight: Charter Capital
October 9, 2023Charter Capital is a well-respected factoring company that has decades of industry experience. We are deeply rooted in the local community as well as in the finance and business sectors. Our team adheres to the highest ethical standards, keeps up to date on industry changes, and is dedicated to empowering business owners that might otherwise have limited access to the funding they need to sustain their business. In short, the relationships we’ve built over the years and continue to maintain have allowed us to serve you better.
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Womble Expands Denver Team With Return of Business Litigation Partner
October 9, 2023Womble Bond Dickinson announced today that John Hawk has rejoined the firm as a partner in the Business Litigation Group. Previously with Womble from 2006 to 2021, Hawk is the first partner addition to the Denver office since it was opened last month by leading global energy and natural resources team Scot Anderson and Ana Maria Gutiérrez.
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Green Dot Appoints Michelleta (“Mich”) Razon to its Board of Directors
October 9, 2023Green Dot Corporation (NYSE: GDOT), a leading digital bank and fintech committed to powering consumers and businesses with seamless and affordable banking and payment tools, today announced the appointment of Michelleta (“Mich”) Razon to its Board of Directors, effective immediately.
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Shift Technologies, Inc. to File Voluntary Chapter 11 Petition
October 9, 2023Shift Technologies, Inc. (Nasdaq: SFT), a consumer-centric omnichannel retailer for buying and selling used cars, today announced that it and its subsidiaries (collectively, “the Company”) intend to file a voluntary petition for relief under Chapter 11 of the U.S. Bankruptcy Code (“Chapter 11”) in the United States Bankruptcy Court (“the Court”) to implement an orderly wind down of its business.
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Solifi is Recognized as one of Great Places to Work by The Secured Lender
October 9, 2023olifi, a global fintech software partner for secured finance, announced The Secured Lender named Solifi on its 2023 Great Places to Work list. This recognition is testament to Solifi’s commitment to attract and retain talent by offering an employee value proposition that includes opportunities to learn and grow as part of a dynamic global team, market-competitive compensation and benefits, a flexible work environment and the chance contribute regardless of your role.
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Mountain Ridge Capital Provides $25 Million Total Credit Facility for a Manufacturer and Distributor of Action Sports Products
October 9, 2023Mountain Ridge Capital ("MRC") is pleased to announce the closing of a $25 million senior secured credit facility for a west coast-based leading manufacturer and distributor of action sports products.
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Companies Borrow Against Their Assets in an Uncertain Economy
October 9, 2023More companies are borrowing against their assets, including inventory and receivables, as finance chiefs look to bolster liquidity amid financial stress from inflation and high interest rates.
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Mountain Ridge Capital Provides $30 Million Total Credit Facility for a Midwest-based Designer and Manufacturer of Footwear
October 9, 2023Mountain Ridge Capital ("MRC") is pleased to announce the closing of a $30 million senior secured credit facility for a Midwest-based designer and manufacturer of footwear/slippers/hosiery. MRC's facility was used to refinance the debt of a competing nonbank lender and will be used going forward to achieve company growth objectives and manage the ebbs and flows of a seasonal industry.
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Pathward Appoints Greg Sigrist as Next Chief Financial Officer
October 9, 2023Pathward Financial, Inc. (Nasdaq: CASH) today announced that Greg Sigrist has been appointed executive vice president (“EVP”), chief financial officer (“CFO”) - designee, beginning Nov. 1, 2023. Immediately after the filing of the Company’s Form 10-K for fiscal year 2023, Mr. Sigrist will transition to EVP, CFO, when he will succeed Glen Herrick, who will remain with the Company to aid in the transition and other projects until his retirement on December 31, 2023.
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FCI Announces Mr. Neal Harm as New Secretary General
October 9, 2023As announced in June 2022, the current Secretary General, Mr. Peter Mulroy, is set to retire on 29 February 2024. FCI has confirmed that Mr. Neal Harm will be taking over the role. Mr. Harm, originally from the United States, comes to FCI from his previous position at Fintainium, where he held the role of Chief Operating Officer. Prior to that, he was the Managing Director at CIT Commercial Services, where he was in charge of strategy, business development, and project management.
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Hilton Grand Vacations Successfully Reprices Term Loan B
October 9, 2023Hilton Grand Vacations Inc. (NYSE:HGV) announces today the successful re-pricing of its existing $1.3 billion Term Loan B, maturing Aug. 2, 2028. The new pricing will be SOFR plus 275 basis points, down from SOFR plus 300 basis points. Additionally, the interest rate floor for the Term Loan B has been lowered from 50 basis points to 0 basis points.
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Versana Surpasses Major Milestone With Over 1,500 Syndicated Loans Now Available on its Transformative Digital Data Platform
October 9, 2023Versana today announced that it has surpassed a key milestone of more than 1,500 syndicated loan facilities and approximately $900 billion in global loan commitments on its transformative, real-time digital data platform in less than a year since its product launch.
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Banesco USA Expands Commercial & Industrial and Domestic Premier Banking & Residential Lending Capabilities
October 9, 2023As South Florida’s banking landscape sees heightened demand amidst an influx of businesses, residents, and capital, Banesco USA, a community bank with over $3.57 billion in assets, is enhancing its commercial and industrial (“C&I”) and residential lending offerings to provide business owners with a one-stop shop for their corporate and personal financial needs.
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Wolters Kluwer Introduces OneSumX for Basel at Major Client Conference
October 9, 2023Wolters Kluwer’s Corporate Performance and ESG division set to unveil functionality at Finance, Risk & Regulatory Reporting Client Conference in Sitges, Spain.
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Willdan Group Completes Refinancing
October 9, 2023Willdan Group, Inc. (NASDAQ: WLDN) today announced that on September 29, 2023, the Company completed the refinancing of its credit facilities and entered into a new three-year credit agreement (the “Credit Agreement”) with a syndicate of financial institutions as lenders and BMO Bank, N.A. (“BMO”) as administrative agent.
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United Capital Funding issues $7.15MM in Total Credit Facilities During Q3 2023
October 9, 2023United Capital Funding Group LLC, a Florida-based factoring firm completed 9 transactions totaling $7.15 million in accounts receivable financing in Q3 of 2023.
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Loomis Signs a 2-year Term Loan Facility of EUR 115 Million
October 5, 2023Loomis AB has signed an agreement for a syndicated Term Loan facility of EUR 115 million. The facility has a tenor of up to two years.
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Monroe Capital Supports Gemspring Capital’s Acquisition of ClearCompany
October 5, 2023Monroe Capital LLC announced it acted as administrative agent and joint lead arranger on the funding of a senior credit facility to support the acquisition of ClearCompany Holdings, Inc. (“ClearCompany”) by an affiliate of private equity sponsor, Gemspring Capital Management, LLC (“Gemspring”).
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The Secured Lender
SFNet's 80th Annual Convention Issue