- Wolters Kluwer Indicator Survey Reveals Persisting Pain Points in Banks’ Risk Management and Regulatory Compliance Efforts
- NXT Capital Closes Senior Credit Facility in Support of L Squared Capital Partners' Acquisition of Kano Laboratories
- Colbeck Capital Names Gregory Budetti Head of Business Development
- VSS Capital Partners Completes Investment in Lumenci, Inc.
- B. Riley Securities Serves as Sole Bookrunner to Roman DBDR Acquisition Corp. II in Connection with its $200 Million Initial Public Offering
TSL Express Daily Articles & News
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SFNet Announces Governance Boards Leadership
The Secured Finance Network (SFNet) Member Directors have elected and the Executive Committee has approved the FY25 SFNet Management Committee and Executive Committee members. In addition, the Secured Finance Foundation (SFFound) Member Donors have elected and the SFFound Board has approved the FY25 SFFound Board and Officers.
TSL Express Trending Story
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Navigating cross-border secured financing presents a complex challenge, where choice of law and conflict of law rules create an intricate maze. Unlike straightforward domestic transactions under the Uniform Commercial Code, international financing demands careful scrutiny of diverse jurisdictions’ laws. David Morse of Otterbourg P.C. explores the practical steps lenders must take to secure rights over assets like inventory and receivables across multiple countries to ensure the lender has the benefit of such security. Part 2 of this article will appear in the November/December issue.
TSL Express Daily Headlines & News
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Spirit Airlines Announces Comprehensive Agreement to Deleverage Balance Sheet and Position the Company for Long-Term Success as a Leading Low-Fare Carrier
November 18, 2024Spirit Airlines, Inc. ("Spirit" or the "Company") (NYSE: SAVE) today announced that it has entered into a restructuring support agreement (the "RSA") supported by a supermajority of Spirit's loyalty and convertible bondholders on the terms of a comprehensive balance sheet restructuring.
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Lendscape Partners with Express Trade Capital to Optimise Financing Operations, Accelerating US Expansion
November 18, 2024Lendscape, a leading technology provider to the global secured finance market, is excited to announce its partnership with prominent finance provider, Express Trade Capital. Through this collaboration, Express Trade Capital will leverage Lendscape’s platform to strengthen its financial operations and enhance its ability to offer flexible financial solutions, customised to the needs of each client.
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CareMax Reaches Agreements to Sell Management Services Organization and Core Centers’ Assets
November 18, 2024CareMax, Inc. (NASDAQ: CMAX; CMAXW) (“CareMax” or the “Company”), a leading technology-enabled value-based care delivery system, today announced it has entered into an agreement to sell its management services organization and also announced a sale process for the Company’s core centers’ assets (collectively, the “Sale Transactions”).
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T-Max Lending LLC Closes $23M Refinance and Construction Loan in Tampa Bay, Florida, Brings 2024 Loan Volume to $371M
November 18, 2024T-Max Lending LLC, a California-based nationwide direct lender, has successfully closed a $23 million refinance and construction loan for a mixed-use development project in Tampa Bay, Florida. The deal adds to T-Max Lending’s record-breaking loan volume in 2024, bringing its total financing for the year to an impressive $371 million.
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AlixPartners Adds top Expert in Carve-outs and Restructurings Featuring Complex Human Resources Elements to Growing German Turnaround and Restructuring Practice
November 18, 2024AlixPartners, the global consulting firm, is announcing today that it is expanding its German Turnaround and Restructuring Services practice, with the addition of a highly respected expert in carve-outs and restructurings featuring complex human resources elements. Tom Gellrich joins the firm from Roland Berger as a Partner & Managing Director in the AlixPartners Munich office.
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Dorsey & Whitney Names 16 New Partners
November 18, 2024Dorsey & Whitney LLP has named 16 new partners to the Firm, effective January 1, 2025.
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Cambridge Wilkinson Investment Bank Closes $215MM Senior Lender Finance Credit Facility for Institutional Specialty Real Estate Lender
November 18, 2024Cambridge Wilkinson ("CW") is pleased to announce the closing of a $215 million senior lender finance credit facility to a lender who specializes in providing secured HELOC mortgages to residential real estate customers.
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DLH Reduces Debt and Amends Credit Facility
November 15, 2024DLH Holdings Corp. (NASDAQ: DLHC) (“DLH” or the “Company”), a Russell 2000 company and leading provider of digital transformation and cyber security, science, research and development, and systems engineering and integration solutions to federal health IT and readiness agencies, today announced selected key metrics for the fiscal year ended September 30, 2024 and an amendment to its syndicated credit agreement.
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Stellus Capital Management, LLC Provides Unitranche Financing In Support Of Hidden Harbor Capital Partners' Acquisition Of Norplex Micarta
November 15, 2024Stellus Capital Management, LLC ("Stellus"), alongside its affiliates, provided senior debt financing to support the acquisition of Norplex Micarta ("Company") from Industrial Dielectrics Holdings, Inc. by Hidden Harbor Capital Partners ("Hidden Harbor").
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Alvarez & Marsal Adds Elan Ben-Avi as Managing Director to Its North American Commercial Restructuring Practice
November 15, 2024Global professional services firm Alvarez & Marsal (A&M) announces the addition of Elan Ben-Avi as a Managing Director in its North American Commercial Restructuring (NACR) practice. Mr. Ben-Avi’s arrival underscores the practice’s ongoing talent investments, and enhances the firm’s ability to help clients navigate restructuring challenges amid economic volatility and evolving market conditions.
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Alector Secures Flexible Credit Facility for Up to $50 Million From Hercules Capital
November 15, 2024Alector, Inc. (Nasdaq: ALEC), a clinical-stage biotechnology company pioneering immuno-neurology, today announced that the Company has entered into a debt financing agreement with Hercules Capital, Inc. (NYSE: HTGC) for up to $50 million.
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As Small Business Owners Begin Post-Election Planning for 2025, KeyBank Poll Finds Taxes, Regulations and Trade Policies are Top of Mind
November 15, 2024With the election now behind us, many business owners are planning for 2025. A recent KeyBank Small Business Flash Poll found 61% of respondents indicated they were likely to seek clarity and hold off on major business decisions until after the election, while only 12% said the election would have no impact on their 2025 planning.
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Heron Finance Launches Industry-Leading Personalized Private Credit Portfolio
November 14, 2024Heron Finance, a technology-first SEC-registered investment advisor, today announced the launch of its groundbreaking Heron Personalized Private Credit portfolio. This innovative investment solution provides accredited U.S. investors with unprecedented access to the growing private credit asset class.
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Lighthouse Provides $4,000,000 Credit Facility
November 14, 2024Lighthouse Financial Corp. is pleased to announce the completion of a $4,000,000 Revolving Line of Credit to a South Carolina-based manufacturer and distributor of lighting fixtures.
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SSG Advises Trugman-Nash, LLC in its Sale to Arthur Schuman, Inc.
November 14, 2024SSG Capital Advisors, LLC (“SSG”) served as the investment banker to Trugman-Nash, LLC (“Trugman-Nash” or the “Company”), a subsidiary of Allied Dairy Products, Inc., in the sale of 100% of its equity ownership interests to Arthur Schuman, Inc. d/b/a Schuman Cheese. The transaction closed in October 2024.
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Vesper Energy Completes Refinancing, Adds $50 Million Revolving Credit Facility
November 14, 2024Vesper Energy is pleased to announce the successful refinancing of its Letter of Credit Facility (the "LC Facility") with Macquarie Group ("Macquarie") and ICBC Standard Bank Plc ("ICBCS"). The facility, led and arranged by Macquarie's Commodities and Global Markets business, now includes a new $50 million revolving credit component designed to support Vesper Energy's growth and provide operational flexibility in developing renewable energy projects.
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TAB Bank Provides $5 Million to CoreCentric Solutions, Promoting Sustainable Appliance Remanufacturing
November 14, 2024TAB Bank announces it has provided a $5 million credit facility to CoreCentric Solutions, Inc., a provider of recovery, repair and return-to-market services for appliances, appliance parts and consumer goods. This financing will support CoreCentric Solutions’ mission to reduce waste by keeping appliance parts and consumer products in the economy—inventing new ways to extend the lifecycle of products by collecting, rebuilding, fixing and returning them to the marketplace.
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The D. E. Shaw Group Raises $1 Billion for Latest Private Credit Fund
November 14, 2024The D. E. Shaw group, a global investment and technology development firm, announced today that it has raised $1 billion in commitments for D. E. Shaw Alkali Fund VI ("Alkali VI"), a closed-end vehicle that is expected to pursue a multi-strategy investment style and invest primarily in corporate debt, structured credit, synthetic securitizations, and other specialty asset classes.
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Winston Represents Court Square Capital Partners in its Definitive Agreement to Sell Advanced Diabetes Supply Group for US$1.1B
November 14, 2024Winston & Strawn represented Court Square Capital Partners, a New York-based leading middle-market private equity company, in its entry into a definitive agreement to sell Advanced Diabetes Supply® Group (ADSG), a California-based national distributor of Durable Medical Equipment (DME) specializing in diabetes supplies, to Cardinal Health for US$1.1B.
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Encina Private Credit Delivers Strong Growth With Year To Date Volume Up 52% Through Third Quarter 2024 Versus Same Period 2023
November 14, 2024During the first nine months of 2024, Encina Private Credit (“Encina”) provided over $355 million of first out enterprise value loans to a wide range of middle-market companies. Encina continued to partner with direct lenders and private equity sponsors to support portfolio companies with growth capital and finance add-on acquisitions.
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The Secured Lender
SFNet's 80th Annual Convention Issue