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TSL Express Daily Articles & News

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Cambridge Savings Bank Provides Strategic Capital to Help Allen & Gerritsen Reimagine its Future
Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and over $6 billion in assets, today announced that it is supporting Allen & Gerritsen (A&G) in its effort to reimagine its work environment with a $1 million equipment line of credit. Creative and entrepreneurial in nature, Allen & Gerritsen is an independent agency specializing in creative communications, customer experience (CX), public relations and media and analytics. The firm currently has locations in Boston and Philadelphia.

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SFNet Releases its Latest Market Pulse Report

SFNet is pleased to present the latest SFNet Market Pulse, a periodic report that informs lenders about emerging economic trends likely to affect secured lending and their borrowers’ industries over the next one to two quarters.

 

TSL Express Daily Headlines & News

  • Mitsubishi HC Capital America Sees Surge in Rental, Leasing Structures as Construction Businesses Look to Minimize Risk
    June 28, 2023
    Mitsubishi HC Capital America, the largest non-bank, non-captive finance provider in North America, is experiencing significant growth in rental financing for dealer-owner and dedicated rental fleets, with year-over-year increases of 150%-550% among some of its clients.
  • BMO Recognized as Best Private Bank, Best Commercial Bank and Best Retail Bank
    June 27, 2023
    BMO has been named the Best Private Bank and Best Commercial Bank in Canada by World Finance Magazine for the 13th and 9th consecutive time respectively. BMO has also been awarded the Best Retail Bank in Canada for the second year in a row and Best Private Bank in the U.S. and Best Commercial Bank in the U.S. for the first time.
  • Ring Energy Announces Successful Results of Senior Credit Facility Spring 2023 Redetermination
    June 27, 2023
    Ring Energy, Inc. (NYSE American: REI) (“Ring” or the “Company”) today announced that the borrowing base was reaffirmed at $600 million under its $1.0 billion senior revolving credit facility (the “Credit Facility”).
  • Porsche AG Links Syndicated Credit Facility to ESG Strategy
    June 27, 2023
    Porsche AG has signed a syndicated revolving credit facility of €2.5 billion. In total 21 banks from Europe, the Americas, and Asia have taken part in the transaction and will form the strategic core banking group in the future. The credit facility has a term of five years with two one-year extension options. There are currently no plans to draw the credit line as its sole purpose is to further strengthen Porsche’s liquidity position.
  • CIBC Innovation Banking Provides Growth Capital to KeyOps
    June 27, 2023
    CIBC Innovation Banking announced today that it has provided growth financing to KeyOps, a Toronto-based insights and engagement platform that connects physicians to life science companies. KeyOps will use the funds to invest in product development and expansion into the US market.
  • H.I.G. Capital Completes Recapitalization of Advanced Dental Brands
    June 27, 2023
    H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with $56 billion of equity capital under management, is pleased to announce that one of its affiliates has completed a significant growth investment in Advanced Dental Brands, LLC (“ADB” or the “Company”).
  • Exchange Bank Announces Paul Yeomans as Senior Vice President, Senior Lending Officer
    June 27, 2023
    -Exchange Bank (OTC: EXSR) announces the expansion of Paul Yeomans’ role from SVP, wholesale banking sales manager to SVP, senior lending officer, combining the Commercial Banking and Construction and Mortgage Lending departments into a single commercial lending origination force under his executive leadership. This includes Exchange Bank’s Roseville Commercial team and SBA loan production.
  • MUFG Bolsters Sponsor Coverage Capabilities With new Hire
    June 27, 2023
    Mitsubishi UFJ Financial Group (MUFG) announced today the expansion of its Sponsor Coverage effort with the hiring of Pam Bruno as Managing Director. Pam will be responsible for covering Private Equity Financial Sponsors for the bank. Based in New York, Pam will report to Robert Smock, Head of Sponsor Coverage & Advisory at MUFG.
  • Strong Demand Drives Culain Capital’s Recent Hiring of Secured Finance Professionals
    June 27, 2023
    Culain Capital (www.culaincapital.com) has announced the hiring of Anita Hall, Neal Polshuk and Daniel Stacey and has retained the services of David Weinstein to meet increased client demand for comprehensive accounts receivable factoring facilities to small and medium sized businesses nationwide.
  • MidCap Business Credit Closes in a $12 Million Asset-based Credit Facility to EQ Holdings
    June 27, 2023
    MidCap Business Credit announced today they have closed on an $12,000,000 asset-based credit facility to EQ Holdings, located in Golden Valley Minnesota. The new relationship and was sourced out of MidCap’s office in Dallas, TX.
  • Cambridge Savings Bank Deepens Relationship with First Boston Construction Holdings, LLC
    June 27, 2023
    Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and over $6 billion in assets, today announced that it has increased the Commercial and Industrial (C&I) revolving line of credit for First Boston Construction Holdings, LLC (FBCH) to $60 million. Based in Quincy, MA, FBCH is an affiliate of The Grossman Companies and extends private loans to builders, developers, and real estate investors in New England with a focus in greater Boston.
  • Brean Capital Closes Corporate Note Financing for Luxury Lease Partners
    June 27, 2023
    Luxury Lease Partners (“LLP”), a leading automotive leasing company specializing in top of the line luxury and exotic cars, announced the successful closing of a senior corporate notes financing. The transaction was assigned a BBB rating by a nationally recognized statistical ratings organization (NRSRO). The funds from the transaction will be used to support the Company’s growth initiatives and strengthen its balance sheet.
  • Partner David Sweeney joins Clifford Chance in the firm’s new Houston Office
    June 27, 2023
    Clifford Chance announces today that partner David H. Sweeney has joined its new office in Houston. He joins Jonathan Bobinger, Jonathan Castelan, Trevor Lavelle, Enoch Varner and Alexandra L. Wilde as part of the seven new partners in Houston, along with Devika Kornbacher, Alex Leff and Tony Giustini who are relocating to support the expansion.
  • Todd Witmer Joins Mitsubishi HC Capital America as Senior Origination Leader, ABL
    June 26, 2023
    Mitsubishi HC Capital America, the largest non-bank, non-captive finance provider in North America, is pleased to announce that Todd Witmer has joined the company as Senior Origination Leader, Asset-based Lending.
  • Hut 8 Announces US$50 Million Credit Facility
    June 26, 2023
    Hut 8 Mining Corp. (Nasdaq: HUT) (TSX: HUT) ("Hut 8" or the "Company"), one of North America's largest, innovation-focused digital asset mining pioneers, and high performance computing infrastructure provider, announced today that, together with its subsidiary, Hut 8 Holdings Inc. (the "Borrower"), it has entered into a US$50 million credit facility (the "Credit Facility") with Coinbase Credit, Inc., as lender. The loan proceeds will be used for general corporate purposes.
  • BTIG Investment Banking Adds Jay Magee to Financial Institutions Group
    June 26, 2023
    BTIG announced today that Jay Magee has joined the firm as a Managing Director within Investment Banking’s Financial Institutions Group. Mr. Magee will support the firm’s efforts to deliver a complete set of advisory and capital solutions to BTIG’s corporate, institutional and financial sponsor clients globally.
  • Helix Energy Solutions Announces Amendment to its ABL Facility
    June 26, 2023
    Helix Energy Solutions Group, Inc. (“Helix”) (NYSE: HLX) announced today that it has entered into an amendment of its existing asset-based revolving credit facility (“ABL Facility”), under which among other changes the borrowing base and commitments of the lenders thereunder have been increased from $100 million to $120 million. Bank of America, N.A. continues to serve as Administrative Agent for the ABL Facility.
  • GoldenTree Announces Closing of $493 Million CLO Under GLM Strategy
    June 26, 2023
    GoldenTree Loan Management II (“GLM II”) and its affiliated investment manager GoldenTree Asset Management LP (along with other affiliated investment managers “GoldenTree”), announced the closing of a $493 million collateralized loan obligation (“CLO”) to be managed by GLM II. With the closing of this CLO, GoldenTree Loan Management US CLO 17 (“GLM US CLO 17”), GoldenTree has issued 23 CLOs totaling approximately $13 billion under its GLM CLO strategy.
  • HSBC Leads $125 Million Refinancing Deal for Design Group
    June 26, 2023
    HSBC Group has announced that it led a $125 million refinancing deal for IG Design Group plc (Design Group), one of the world’s leading designers, innovators and manufacturers of gift packaging, celebrations, craft and creative play, stationery, gifting, and related product categories.
  • TIAA Bank to Become EverBank, a Brand Built on Legacy, Partnership and Forward-Looking Confidence
    June 26, 2023
    Celebrating a fresh start built on a legacy of decades of strong performance and innovative client service, TIAA Bank announced that it will become EverBank.

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