- Hedgeweek Names CohnReznick 2024 Best Audit Firm: Overall
- Gateway Trade Funding Completes 17 Stretch Finance Transactions Totaling Almost $5,000,000
- Kayne Anderson BDC, Inc. Announces Amendment of its Corporate Credit Facility to Extend the Maturity Date and Reduce Borrowing Costs
- Gateway Trade Funding Completes 17 Stretch Finance Transactions Totaling Almost $5,000,000
- Online Auction Features Rental and Production-Ready Audio, Video and Lighting Gear
TSL Express Daily Articles & News
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First Citizens Bank Enters into Whole Bank Purchase of Silicon Valley Bridge Bank, N.A.
First-Citizens Bank & Trust Company ("First Citizens Bank"), a subsidiary of Raleigh-headquartered First Citizens BancShares, Inc. ("First Citizens") (Nasdaq: FCNCA), announced today that it has entered into an agreement with the Federal Deposit Insurance Corporation (FDIC) to purchase out of FDIC receivership substantially all loans and certain other assets, and assume all customer deposits and certain other liabilities of Silicon Valley Bridge Bank, N.A.
BofA Securities, Inc. is serving as exclusive financial advisor to First Citizens and Smith, Anderson, Blount, Dorsett, Mitchell & Jernigan, LLP acted as legal advisor.
BofA Securities, Inc. is serving as exclusive financial advisor to First Citizens and Smith, Anderson, Blount, Dorsett, Mitchell & Jernigan, LLP acted as legal advisor.
TSL Express Trending Story
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On March 18, SFNet hosted a Webinar, “Cybersecurity: Evaluating and Mitigating Borrowers' Risk to Cyber Breaches”. It discussed current trends in cyber threats to commerce and the potential impact to borrowers, and the steps lenders and borrowers can take to guard against and mitigate and recovery from cyber-attacks or data breaches. Panelists focused on due diligence steps lenders should consider in assessing risk and the steps they may need in their lending agreements.
Tina Capobianco, senior vice president, J D Factors served as moderator. Panelists included Thomas J. DeMayo, principal, Cybersecurity and Privacy Advisory, PKF O'Connor Davies, LLP; Steven Teppler, of counsel, Mandelbaum Barrett P.C. and Louis Natale, chief credit officer, White Oak Commercial Finance. PFK Clear Thinking and White Oak Commercial Finance sponsored the webinar.
TSL Express Daily Headlines & News
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RelPro Achieves Inc. 5000 Ranking for Third Straight Year
August 23, 2023RelPro has once again been recognized as one of the fastest-growing private companies in the United States by Inc. Magazine, ranking #2452 on the Inc. 5000 list.
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Meitheal Announces Closing of Senior Secured Credit Facility Agreement for Up to $80 Million with J.P. Morgan
August 22, 2023Meitheal Pharmaceuticals, Inc. (“Meitheal”), a fully integrated generic injectables company based in Chicago, today announced it has entered into a $35 million senior secured revolving credit agreement with J.P. Morgan. Subject to customary conditions, Meitheal may, at its option, request an increase in the credit facility for a total amount of up to $80 million.
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Comvest Credit Partners Upsizes its Investment in Beyond Finance to Support Growth; Senior Credit Facility Now $635 Million
August 22, 2023Comvest Credit Partners (“Comvest”), a leading provider of flexible direct financing solutions to middle-market companies, is pleased to announce that it is acting as Administrative Agent on an upsized $635 million senior credit facility (the “Financing”) for Beyond Finance (the “Company”), a U.S.-based provider of success fee-based debt resolution services.
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Golub Capital Increases Risk Strategies Unitranche to $4.45 Billion
August 22, 2023Golub Capital acted as Administrative Agent, Lead Arranger and Joint Bookrunner on a $700 million delayed draw term loan for Risk Strategies, increasing the company's unitranche facility to $4.45 billion. Risk Strategies, a leading U.S. insurance broker, is a portfolio company of North American-focused middle market private equity firm, Kelso & Company.
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Zions Bancorporation Completes Asset-Based Lending Deal With Forging Distributor
August 22, 2023Zions Bancorporation, N.A., through its Texas division, Amegy Bank closed and funded an $8,000,000 credit facility for the distribution arm of a multi-national manufacturer of steel forgings. The Company provides critical OEM parts for equipment manufacturers serving a wide range of industries. The credit facility consisted of a multi-year revolving line of credit.
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Second Avenue Capital Partners Arranges Credit Facilities for True Religion
August 22, 2023Second Avenue Capital Partners (“SACP”), a Schottenstein affiliate, along with TCW Private Credit and Sagard Credit, announced the closing of a new term loan and revolving credit facility for True Religion Apparel, Inc. (“True Religion” or the “Company”). SACP served in various roles for the transaction including Sole Arranger, Revolver Agent, Sole Revolver Lender and Term Loan Lender.
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Monroe Capital Supports Lindsay Goldberg’s Acquisition of Lightwave Dental
August 22, 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 Lightwave Dental (“Lightwave”) by Lindsay Goldberg, a NY based leading private investment firm.
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RelPro Adds Wealth Insights on Business Executives; Announces Windfall as Latest Partner
August 22, 2023RelPro integrates another new dataset into its platform, delivering net worth and wealth insights on business executives. The data comes from Windfall, RelPro’s latest data partner.
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Hudson Technologies Announces Full Repayment of Outstanding Term Debt
August 22, 2023Hudson Technologies, Inc. (NASDAQ: HDSN) a leading provider of innovative and sustainable refrigerant products and services to the Heating, Ventilation, Air Conditioning, and Refrigeration industry–and one of the nation’s largest refrigerant reclaimers–today announced that the Company has repaid in full the remaining principal balance outstanding under its Credit Agreement with TCW Asset Management Company, LLC (“TCW”).
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Legacy Corporate Lending Adds Terrance McKinney as Executive Vice President of Portfolio Management
August 22, 2023Legacy Corporate Lending, LLC (“Legacy”), an independent asset-based lending (ABL) company focused on serving the needs of middle market companies across North America, today announced that Terrance McKinney has joined the firm as Executive Vice President of Portfolio Management.
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CapitalPlus Facilitates $5 Million Funding for Prominent West Coast Mechanical Contractor
August 22, 2023CapitalPlus Financial Services, a distinguished provider of working capital solutions, proudly announces the successful facilitation of $5 million in funding for a leading mechanical contractor based on the West Coast.
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FirstBank Announces New Chief Credit Officer
August 22, 2023FirstBank, one of the nation’s largest privately held banks with a focus on “banking for good,” recently announced several leadership changes. The new appointments result from FirstBank executives either retiring or being elevated to C-level positions.
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Goldman Sachs Asset Management to Make New Investment in World Insurance Associates, Joining Charlesbank Capital Partners as Co-Lead Investors for Next Chapter of Growth
August 22, 2023World Insurance Associates LLC (“World”), one of the fastest-growing insurance brokerages in the U.S., announced today that funds advised by Goldman Sachs Asset Management (“Goldman Sachs”), through its Private Equity and Hybrid Capital teams, have entered into a definitive agreement to make a major investment in the company.
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SFNet Member Spotlight: Alantes Corporate Finance, LLC
August 22, 2023Alantes Corporate Finance specializes in capital raises and strategic advisory for small- to middle-market businesses across the nation. Our team prides itself on our ability to provide unique solutions for all of your business needs. Whether you’re looking to acquire a new company or additional working capital for operations, Alantes is your trusted source for business growth and expansion.
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SFNet Member Spotlight: Aurous Financial Services
August 22, 2023Aurous Financial Services is the first of its kind. Intended to offer the best solution for small and medium-sized commodities importers, Aurous Financial provides short-term bridge financing, on your terms.
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SFNet Member Spotlight: SierraConstellation Partners
August 21, 2023SierraConstellation Partners (SCP) is a national interim management and advisory firm serving middle-market companies and their partners and investors that are navigating their way through difficult business challenges. Built on a foundation of core values, our team of former CEOs, COOs, CFOs, private equity investors, and investment bankers, apply their real-world experience, operational mindset, and hands-on approach to deliver effective operational improvements and financial solutions.
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Merchant Opportunities Fund Increases BMO Credit Facility to $100 Million
August 21, 2023The Merchant Opportunities Fund, a Vancouver-based private debt fund focused on investing in specialty finance portfolios, today announced that it has increased its revolving debt facility with the Bank of Montreal ("BMO"). The facility now consists of a $70 million funding commitment with a two-year term along with a $30 million accordion, with a Schedule 1 bank being added to the now syndicated facility.
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Tronox Announces Closing of $350M Incremental Term Loan
August 21, 2023Tronox Holdings plc (TROX) recently announced the closing of a $350 million incremental term loan under its existing credit agreement, the proceeds of which are likely to be utilized to repay outstanding borrowings under the company's existing revolving credit facilities and increase available liquidity for upcoming capital expenditures.
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Prestige Capital Continues to Expand its Business Development Team and Welcomes Mark J. Simshauser
August 21, 2023Prestige Capital is pleased in announcing that Mark J. Simshauser has joined our team as Senior Director – Northeast US responsible for building and driving business development throughout the Northeast region.
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Encina Lender Finance Closes on $360MM of Bank Facility Commitments
August 21, 2023Encina Lender Finance, LLC (ELF) announced today the closing of $360MM of funding commitments from nine banks.
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The Secured Lender
SFNet's 80th Annual Convention Issue