TSL Express Daily Articles & News
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Eclipse Business Capital Provides $135 Million Revolving Credit Facility
Eclipse Business Capital LLC (“EBC”) announced that it has provided a $135 million senior secured revolving credit facility an e-commerce retailer.
The credit facility is secured by accounts receivable and inventory with the proceeds being used to refinance the existing line of credit. EBC’s demonstrated track record of executing quickly, coupled with its industry expertise, provided the borrower confidence that its business needs would be met.
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In this installment of our series of executive interviews, Charlie Perer sits with Doug Winget to discuss Huntington Business Credit’s national expansion, vertical industry specialization and state of the market, among other things.
TSL Express Daily Headlines & News
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First Solar Secures $1 Billion Revolving Credit Facility
July 6, 2023Additional banks participating in the facility include Joint Lead Arrangers Bank of America, Citibank, Credit Agricole CIB, and PNC Bank, as well as participating lenders BNP Paribas, Goldman Sachs Bank USA, HSBC Bank USA, MUFG Bank, Standard Chartered Bank, and Truist Bank.
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Myriad Genetics Announces New $90 Million Asset-Based Credit Facility
July 6, 2023Myriad Genetics, Inc., (NASDAQ: MYGN), a leader in genetic testing and precision medicine, today announced that it has established a new $90 million asset-based credit facility (the “ABL Facility”) with JPMorgan Chase Bank, N.A. as administrative agent and issuing bank, and the other lender parties thereto consisting of Wells Fargo Bank, N.A. and Bank of America, N.A.
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Bain Capital Credit Provides Financing to Support Investment in Congress Wealth Management by Audax Private Equity
July 6, 2023Bain Capital Credit today announced that the firm’s Private Credit Group acted as sole lender and administrative agent for a senior credit facility to support Audax Private Equity’s strategic investment in Congress Wealth Management (“Congress”), an independent registered investment advisor offering wealth management and investment advisory services to high-net-worth individuals and families in the U.S.
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Banc of California Names Joseph Kauder Executive Vice President and Chief Financial Officer
July 6, 2023Banc of California, Inc. (NYSE: BANC) (the “Company”), the holding company for Banc of California, N.A. (the “Bank”), today announced the appointment of Joseph Kauder as Executive Vice President and Chief Financial Officer of the Company and the Bank, effective July 10, 2023.
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Republic Bank Completes Merger With Commercial Industrial Finance, Rebrands Division as Republic Bank Finance
July 6, 2023St. Louis-based Commercial Industrial Finance, Inc. (“CIF”) became Republic Bank Finance effective July 1, 2023, coinciding with the final merger of the two companies. CIF was acquired by Republic Bank & Trust Company (“Republic Bank” or the “Bank”) and its parent company Republic Bancorp, Inc. (NASDAQ: RBCAA) (“Republic”), on March 15, 2023, as part of the acquisition of CIF’s former parent company, CBank.
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UK's Man Group to buy Varagon Capital in Further Push Into Credit
July 6, 2023London-listed hedge fund Man Group (EMG.L) said on Thursday it has agreed to buy a controlling stake in U.S. middle market private credit manager Varagon Capital Partners, building on a recent acquisition.
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United Capital Funding Issues $10.8 Million in Total Credit Facilities During Q2 2023
July 6, 2023United Capital Funding Group LLC, a Florida-based factoring firm completed twelve transactions totaling $10.75 million in accounts receivable financing in Q2 of 2023.
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Celtic Capital Corporation Provides $1.5 Million Equipment Loan for CNC Machine Shops
July 6, 2023Celtic Capital Corporation today announced its most recent new client relationship – three CNC machine shops related through common ownership. Two are located in Texas; the other, in Michigan.
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Jim Alwan Joins Armory Group as Managing Director
July 6, 2023Armory Group, LLC, a leading financial advisory firm serving the middle market, is pleased to welcome Jim Alwan as a managing director. Based out of the Los Angeles office, Jim brings over 25 years of executive management and operating experience in technology and the healthcare industry, having led early-stage firms as well as large multinational businesses by driving rapid growth, strategic pivots, and turn-arounds.
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InterNex Capital Announces $6 Million Facility to Transportation Company
July 6, 2023InterNex Capital provides $6,000,000 facility to a transportation and logistics company in the Midwest. The company required additional growth capital and greater flexibility than provided by their existing bank facility.
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In Memoriam: John McQuiston
July 6, 2023John McQuiston, Head of Global Sales, Global Receivables and Trade Finance with Wells Fargo, died unexpectedly on June 25.
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Culain Capital Funding Closes $200,000 and $250,000 for Medical Staffing Companies
July 6, 2023Culain Capital Funding LLC, a specialty finance firm focusing on responsive and efficient funding solutions for small- and medium-sized business in the United States announces the completion of a $200,000 and a $250,000 accounts receivable factoring facility with two startup medical staffing companies based in Texas.
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CIBC Innovation Banking Bolsters North American Team
July 5, 2023CIBC Innovation Banking is pleased to announce that its North American team is growing, with team members joining in New York and San Francisco.
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TradeCap Partners Extends Minority, Women Owned Startup $700,000 Purchase Order Finance Facility
July 5, 2023TradeCap Partners recently extended a $700,000 purchase order finance facility to a minority, women owned startup apparel brand. Having started her brand with a D2C online presence only, the founder landed her first big opportunity with a large retailer.
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COMPASS Pathways Secures Term Loan Facility for Up to $50 Million from Hercules Capital
July 5, 2023COMPASS Pathways plc (Nasdaq: CMPS), a biotechnology company dedicated to accelerating patient access to evidence-based innovation in mental health, today announced that the Company has entered into a term loan agreement with Hercules Capital, Inc. (NYSE: HTGC) for up to $50 million.
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Dave & Buster's Entertainment Amends Credit Agreement; Enhances Loan Facility To $900M
July 5, 2023Dave & Buster's Entertainment Inc (NASDAQ:PLAY) said it amended its credit agreement, achieving favorable pricing and upsizing the Term Loan B facility to $900 million.
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CVC Credit Raises Its Third CLO Equity Vehicle
July 5, 2023CVC Credit, the $41 billion global credit management business of CVC, is pleased to announce the final close of CVC CLO Equity III at its hard cap with $800 million of commitments. Across its period of deployment, this equity fund is intended to support over $10 billion of global CLO issuance for CVC Credit’s Performing Credit platform.
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Latham & Watkins Advises Monitronics International on Uncontested Chapter 11 Plan Confirmation
July 5, 2023Monitronics International, Inc. (Monitronics or the Company), one of the largest smart home security and alarm monitoring companies in North America, received confirmation by the United States Bankruptcy Court for the Southern District of Texas of the Company’s partially prepackaged Plan of Reorganization (the Plan) following an uncontested hearing on June 26, 2023. Monitronics emerged from chapter 11 on June 30, 2023.
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Byline Bancorp, Inc. Completes the Merger with Inland Bancorp, Inc.
July 5, 2023-Byline Bancorp, Inc. (“Byline”) (NYSE: BY), the parent company of Byline Bank, announced today that it has completed its merger with Inland Bancorp, Inc. (“Inland Bancorp”) and its wholly owned bank subsidiary, Inland Bank and Trust. As a result of the transaction, effective July 1, 2023, Inland Bank and Trust merged with and into Byline Bank.
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QualTek’s Plan of Reorganization Confirmed
July 5, 2023Kirkland & Ellis LLP and Jackson Walker LLP are serving as legal counsel, Jefferies is serving as investment banker, and Alvarez & Marsal is serving as financial advisor to the Company. The Company has retained C Street Advisory Group to serve as the strategy and communications advisor.
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The Secured Lender
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