- Gateway Trade Funding Completes 17 Stretch Finance Transactions Totaling Almost $5,000,000
- Sidley Austin Represents J.S. Held in Acquisition of Luttrell Wegis
- Gunvor Secures US $2.265 Billion Sustainability-linked, Multi-currency Revolving Credit Facility
- Asset-Based Lending & Factoring Surveys
- Chicago Atlantic Provides Term Loan to One of World’s Largest Cloud-Based In-Store Clienteling Software Providers
TSL Express Daily Articles & News
To submit company news and press releases toTSL Express, email tslexpress@sfnet.com.
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Danimer Scientific Announces Improved Liquidity Position with Closing of $130 Million Senior Secured Term Loan
Danimer Scientific, Inc. (NYSE: DNMR) (“Danimer” or the “Company”), a leading next-generation bioplastics company focused on the development and production of biodegradable materials, today announced it had closed a new senior secured term loan (“Term Loan”) with an aggregate principal amount of $130 million that expands its capital structure, significantly improves its near-term liquidity position, and enables it to maintain strategic and operational flexibility as it executes its growth strategy.
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Members of SFNet’s Factoring Committee Discuss Sources of Business, Supply Chain Issues and More
TSL’s editor-in-chief sat down with several members of the SFNet Factoring Committee to review the current landscape in early 2022. Participants include Carol Apicella, senior vice president, BankFinancial Government Finance; Tina Capobianco, senior vice president, J D Factors Corporation; Dan Karas, executive vice president, Allied Affiliated Funding; Kevin Laborde, president, Cash Flow Resources; and Paul Schuldiner, executive vice president & chief lending officer, Rosenthal & Rosenthal, Inc.
TSL Express Daily Headlines & News
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The Equipment Leasing and Financing Association Sends Letter to the CFPB
August 9, 2023The Equipment Leasing and Financing Association sent a letter to the CFPB requesting that the recent injunction granted to the Texas Bankers Association and the American Bankers Association apply to all covered finance institutions.
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nFusion Capital Provides $3 Million to Kort Industries
August 9, 2023Kort Industries is a Texas-based steel fabricator and industrial fabrication specialist providing steel structures to environmental and oil & gas companies in the state. They offer Fabrication Maintenance Services, Pressure Vessels, High Pressure Piping, Tank Repair and Industrial Coating; and turnkey fabrication solutions to help increase productivity and operating efficiency while reducing downtime and cost.
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BNP Paribas Appoints Matt O’Connor Head and Annabella Espina COO of its Miami Office
August 9, 2023BNP Paribas Securities Corp., a unit of Europe’s leading bank BNP Paribas, today announced the appointment of Matt O’Connor as Head of its new Miami office as well as Annabella Espina the Chief Operating Officer (COO).
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Gordon Brothers Engaged to Offer for Sale Multi-Purpose Platform Supply Vessel Tek-Ocean Spirit
August 9, 2023Gordon Brothers, the global advisory and investment firm, has been engaged on an exclusive basis to offer for sale by private treaty Tek-Ocean Spirit on behalf of Barry Wight and Daniel Juratowitch of Cor Cordis, the Administrators of Tek-Ocean Group Ltd.
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Winston & Strawn Represents Nxu Inc.
August 9, 2023Winston & Strawn is representing Nxu Inc., (NASDAQ: NXU), a vertically integrated technology company creating energy storage and charging solutions for the infrastructure we need to power our electrified future, in its announced pricing of a public offering of 16,666,667 units at a public offering price of $0.30 per unit.
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Cambridge Savings Bank Supports Buyout of White Wood Kitchens with $2.6 Million in Financing
August 9, 2023Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and over $6 billion in assets, today announced that it has provided $2.6 million in financing to support the acquisition and transition of ownership for White Wood Kitchens, the well-known kitchen and project management company in Cape Cod, MA, to former Information Technology leader, Anton Emelianov.
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Stellus Capital Management, LLC Provides Unitranche Financing in Support of the Acquisition of Nature’s Choice by Compost360, a Platform Newly Formed by the Sterling Group Foundation Fund
August 9, 2023-Stellus Capital Management, LLC (“Stellus”) announced today that its affiliates provided senior debt financing and an equity co-investment in support of The Sterling Group’s (“Sterling”) formation of Compost360, a new platform focused on building a leading processor of organic waste material and producer of high quality, sustainable landscaping products.
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Clifford Chance Advises MiddleGround Capital on Acquisition of Automotive Transmission Systems Manufacturer Xtrac
August 9, 2023International law firm Clifford Chance has advised US headquartered private equity firm MiddleGround Capital on its purchase of the UK-based automotive transmissions manufacturer and supplier Xtrac from Inflexion. MiddleGround Capital is an operationally focused private equity firm that invests in middle market B2B industrial and specialty distribution companies globally.
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EverBank, N.A. Announces New Fund Finance Division and Leaders
August 9, 2023Expanding its commercial banking operations to provide bespoke and customized fund-level financing to alternative asset managers and the private capital industry, EverBank (temporarily doing business as TIAA Bank) today announced the launch of its new Fund Finance division under the leadership of industry veterans Jeff Johnston and Mike Mascia.
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Moody's Downgrades US banks, Warns of Possible Cuts to Others
August 9, 2023Moody's cut credit ratings of several small to mid-sized U.S. banks on Monday and said it may downgrade some of the nation's biggest lenders, warning that the sector's credit strength will likely be tested by funding risks and weaker profitability.
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Crocs, Inc. Announces Refinancing of Term Loan B Facility in Leverage-Neutral Transaction
August 9, 2023Crocs, Inc. (NASDAQ: CROX), a world leader in innovative casual footwear for women, men, and children, today announced the repricing of the $1.18 billion outstanding under its Term Loan B facility through a refinancing amendment.
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A&G Accepting Offers on 225 Acres of College Real Estate in Unity, Maine
August 9, 2023Unity Environmental University—a nonprofit, fully accredited institution with a main campus in New Gloucester—is offering for purchase its 225-acre, secondary teaching location at 90 Quaker Hill Rd. in Unity.
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J D Factors Provides $8,725,000 in new Factoring Facilities During July
August 8, 2023J D Factors provided $8,725,000 in new factoring facilities to 35 new clients in the US and Canada during the month of July.
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White Oak Commercial Finance Provides $20 Million Facility to Leading Telecommunications Company Supplying Consumers Through the Affordable Connectivity Program
August 8, 2023White Oak Commercial Finance, LLC (“White Oak”), an affiliate of White Oak Global Advisors, LLC, (“WOGA”) provided a $20 million factoring facility (“Facility”) to a leading telecommunications company. The Facility will allow the company to continue its growth and its supplying of tablets and data to qualified consumers under the Affordable Connectivity Program (ACP).
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Tradewind Finance Provides Export Factoring Facility for Frozen Seafood Trader in Hong Kong
August 8, 2023Tradewind Finance is pleased to announce it has closed a USD 700,000 export factoring facility for a frozen seafood trader in Hong Kong. The funding has been used to finance the company's business operations and expansion plans, including their exports to buyers in the US and South America.
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Approval of Stalking Horse Bid and Debtor in Possession Loan Facility in Sorrento Therapeutics Bankruptcy Proceedings
August 8, 2023Sorrento Therapeutics, Inc. has recently received approval from the U.S. Bankruptcy Court for the Southern District of Texas regarding a significant development in their ongoing bankruptcy proceedings. The court has given the green light to a “stalking horse” bid worth $105 million for the acquisition of Scilex Holding Company’s common stock, preferred stock, and warrants. The successful bidder in this case is Oramed Pharmaceuticals, Inc.
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Oxford Finance’s Healthcare Real Estate Group Closes Approximately $200 Million of Capital Commitments During Q1 & Q2 of 2023
August 8, 2023Oxford Finance LLC (“Oxford”), a leading specialty firm that provides senior debt to life sciences and healthcare companies worldwide is pleased to announce that its Healthcare Real Estate Group closed a strong first half of 2023, providing total capital commitments of approximately $200 million in six transactions.
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Diversified Financial Services Firm Hilco Global Hires David Kurtz as Vice Chairman - Chief Strategic Officer
August 8, 2023Hilco Global (www.hilcoglobal.com), a privately held diversified financial solutions firm, announced today that veteran Lazard banker David Kurtz, will join the firm, serving as Vice Chairman and Chief Strategic Officer. Mr. Kurtz will report to and work closely with Hilco Global Chief Executive Officer and Founder Jeffrey B. Hecktman.
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Wells Fargo Hires Credit Suisse Veteran as Head of Financial Sponsors
August 8, 2023U.S. bank Wells Fargo (WFC.N) said on Monday Malcolm Price has joined its corporate and investment bank (CIB) as the head of financial sponsors, after 35 years at Credit Suisse.
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KKR to Acquire Simon & Schuster from Paramount Global for $1.62 Billion
August 8, 2023Paramount Global (NASDAQ: PARA, PARAA) and KKR today announced the signing of a definitive agreement pursuant to which KKR will acquire Simon & Schuster for $1.62 billion in an all-cash transaction.
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