- Comvest Credit Partners Provides Debt Financing to Support Merger of Opexus and Casepoint and Majority Investment from Thoma Bravo
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- MidCap Business Credit LLC Provides $10 Million Asset-Based Line of Credit to Winter Clothing Distributor
- Haynes Boone Fund Finance Report Reveals New Lenders Driving Down Pricing and Fueling Innovation
- President Trump Announces Nominations for Several key Financial Regulatory Positions
TSL Express Daily Articles & News
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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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A key theme that emerged from sessions and keynotes at SFNet’s 77th Annual Conference in Phoenix, AZ, was the need to fortify and build resilience to prepare for challenges and increasing turbulence due to economic, regulatory, social and technological disruptions. And while the speakers said they appreciate more data, many recommended a greater focus on human connection that fosters trust. One independent said bluntly, “You want to look your borrower in the eye.”
“Everyone wants a crystal ball,” said another presenter, “but no one has one.”
TSL Express Daily Headlines & News
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Monroe Capital Supports Olympus Partners' Acquisition of MEI Rigging & Crating
August 8, 2023Monroe Capital LLC announced it acted as joint lead arranger on the funding of a senior credit facility to support the acquisition of MEI Rigging & Crating (“MEI”) by Olympus Partners.
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Julie A. Bonness Appointed as Senior Vice President - Global Strategic Partnerships at SAPRO
August 8, 2023SAPRO, a renowned global talent outsourcing firm providing expert professionals in tax, audit, and advisory services, is thrilled to announce the appointment of Julie Bonness as the new Senior Vice President - Global Strategic Partnerships.
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Legacy Corporate Lending Expands Team with Addition of Anthony DiChiara as Managing Director of Originations
August 8, 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 Anthony DiChiara has joined the firm as Managing Director of Originations.
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Dynatronics Corporation Announces New Credit Facility
August 7, 2023Dynatronics Corporation (NASDAQ: DYNT) ("Dynatronics" or the "Company"), a leading manufacturer of athletic training, physical therapy, and rehabilitation products, today announced that on August 1, 2023 the Company and its subsidiaries entered into a new Loan and Security Agreement ("the credit facility") with Gibraltar Business Capital, LLC ("Gibraltar").
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NOG Announces Expansion of Revolving Credit Facility
August 7, 2023Northern Oil and Gas, Inc. (NYSE: NOG) (the “Company” or “NOG”) today announced the completion of its semi-annual borrowing base redetermination under its reserves-based revolving credit facility (the “Facility”). In connection with the redetermination, NOG entered into an amendment to the Facility that will increase the borrowing base to $1.8 billion (from $1.6 billion) and increase the elected commitment amount to $1.25 billion (from $1.0 billion).
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Credibly Announces Management Buyout
August 7, 2023Brean Capital and RBC Capital Markets served as financial advisors on this transaction, and Brean Capital also served as the placement agent.
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Gibraltar Equipment Finance Provides $1MM to Transportation Maintenance Contractor
August 7, 2023Gibraltar Equipment Finance (GEF), a non-bank, middle market equipment financing company and affiliate of Gibraltar Business Capital, is pleased to announce the successful completion of a $1MM equipment financing transaction.
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Flatbay Capital Funds a $1.7MM Bridge Loan to Premier Fiber Internet Provider
August 7, 2023Flatbay Capital funds a $1.7MM bridge loan to a Houston, Texas-based provider of private fiber-optic connections to cities, municipalities, and educational institutions across the state. The commercial real estate loan was secured by an owner-occupied light industrial building whose main use is a data center.
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Austin Financial Services Closes a $10MM Club Facility to a toy Manufacturer and Distributor
August 7, 2023Austin Financial Services, Inc. (AFS) is pleased to announce the closing of a $10MM club ABL facility to a toy manufacturer and distributor. Proceeds from AFS’ revolver were used for seasonal inventory purchases and will also provide ongoing working capital to support the Company’s growth plans.
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Bright Health Group Secures Financing to Support Operations Pending the Expected Close of California Medicare Advantage Business Sale
August 7, 2023Bright Health Group, Inc. (“Bright Health” or the “Company”) (NYSE: BHG), the technology enabled, value-driven healthcare company, today announced that it entered into a credit facility with an investment partnership of New Enterprise Associates (“NEA”) with $60 million of credit capacity on August 4, 2023.
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OncoSec R&D Facility and Lab Goes to Auction on Aug. 10
August 7, 2023By order of a U.S. bankruptcy court, Tiger Group and Liquidity Services on Aug. 10 will auction OncoSec Medical Inc.’s former immunotherapy laboratory and R&D facility in San Diego.
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1st Capital Bancorp Announces Change In Executive Management Position
August 7, 20231st Capital Bancorp (the “Company”), (OTCQX: FISB), the $960 million asset bank holding company and parent company of 1st Capital Bank (the “Bank”), announced a recent change in executive management.
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Janus International Group Successfully Completes Debt Refinancing
August 7, 2023Janus International Group, Inc. (NYSE: JBI) (“Janus” or the “Company”), a leading provider of cutting-edge access control technologies and building product solutions for the self-storage and other commercial and industrial sectors, today announced a series of related transactions to refinance its debt.
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Macquarie Leads $275 Million Syndicated Financing for Precious Metals Merchant Auramet
August 7, 2023Auramet was pleased to expand its lender group to include Wells Fargo Bank. The Facility also includes previous participants Coöperatieve Rabobank U.A., N.Y. Branch, HSBC Bank USA, N.A., Commonwealth Bank of Australia, CIBC Bank USA, and Brown Brothers Harriman & Co.
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Franklin BSP Realty Trust, Inc. Announces Closing of a $80 Million Loan on the Alexan Waterloo, a Luxury High-Rise Multifamily Property
August 7, 2023Franklin BSP Realty Trust, Inc. (NYSE: FBRT) (“FBRT” or the “Company”) today announced the closing of a $80 million loan facilitating the refinancing of the Alexan Waterloo (“the Alexan”), a 272-unit, 30-story, 2021-vintage luxury high-rise multifamily property located in downtown Austin, Texas, centrally located to the medical district. Crow Holdings Capital (the “Borrower”, “Crow”) is the property developer and is a subsidiary of Crow Holdings, a privately owned real estate investment and development firm with more than 70 years of history and approximately $24 billion of assets under management.
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Credit Card Fintech Petal Secures $200m Debt Facility from Victory Park Capital
August 7, 2023The credit card start-up has secured a $200 million debt facility from Victory Park Capital (VPC) and a new term loan facility for up to $20 million of incremental commitments with Trinity Capital.
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Rosenthal & Rosenthal Promotes Derek Sigler to EVP, Northeast Region Co-Portfolio Manager
August 7, 2023Rosenthal & Rosenthal has promoted Derek Sigler to EVP, Northeast Region Co-Portfolio Manager. Derek has been at Rosenthal for more than 10 years and will work alongside his colleague Josh Ceccarelli to run the Northeast factoring portfolio.
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CoreWeave Secures $2.3 Billion Debt Financing Facility led by Magnetar Capital and Blackstone to Meet Surging Demand and Ongoing Expansion of Specialized Cloud Infrastructure to Power AI
August 7, 2023CoreWeave, a specialized cloud provider of large-scale GPU-accelerated workloads, today announced it has secured a $2.3 billion debt financing facility. The funding was led by Magnetar Capital and funds managed by Blackstone Tactical Opportunities ("Blackstone") with strategic participation from leading asset management firms Coatue and DigitalBridge Credit, and funds and accounts managed by BlackRock, PIMCO, and Carlyle.
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Flux Power Closes New $15 Million Credit Facility with Gibraltar Business Capital
August 7, 2023-Flux Power Holdings, Inc. (NASDAQ: FLUX), a developer of advanced lithium-ion energy storage solutions for electrification of commercial and industrial equipment, today announced that it has secured a new $15.0 million credit facility from Gibraltar Business Capital (“GBC”) to fund working capital and to refinance its existing credit facility with Silicon Valley Bank (“SVB”).
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Eclipse Business Capital Provides $23.4 Million ABL Credit Facility
August 7, 2023Eclipse Business Capital LLC (“EBC”) announced that it has provided a $23.4 million senior secured ABL credit facility to a distributor of travel products and accessories. The Company primarily sells branded products through Amazon and other various retailers.
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The Secured Lender
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SFNet's 80th Annual Convention Issue