TSL Express Daily Articles & News
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Siena Lending Group Announces Leadership Changes and Promotions
Scott Elliotto has been named President of Siena Lending Group, while Todd Eubanks is joining SLG as Deputy Chief Risk Officer and Michael Zielinski has been promoted to Director of Portfolio Management, Team Leader. All positions are effective immediately.
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Getting R.E.A.L. in Later Stage, Venture-Backed Companies
In this article, we discuss how leading, managing, and operating a business with a focus on growth and development but with profits and cash flow is far different than driving interesting research and development (R&D) and engineering activities; and how a company should deal with these challenges as they evolve.
TSL Express Daily Headlines & News
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Monroe Capital Supports Haveli Investments’ Acquisition of ZeroFox
June 17, 2024Monroe Capital LLC announced it acted as sole lead arranger and administrative agent on the funding of a senior credit facility to support the acquisition of ZeroFox Holdings, Inc. (“ZeroFox”) by private equity sponsor Haveli Investments.
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CFOs Say They Want Operational Experience and Familiarity With New Tech When Identifying Successors; GenAI Tops List of Internal Concerns: Deloitte CFO Signals™ Survey 2Q 2024
June 17, 2024CFOs' outlook was cautious, as most indicate the economy is their most concerning external risk. This sentiment was perhaps most apparent in CFOs' risk appetite: only 26% of surveyed CFOs believe that now is a good time to be taking greater risks.
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First Citizens Bank Provides Loan to Refinance Tacoma Senior Living Facility
June 17, 2024First Citizens Bank today announced that its Healthcare Finance business provided a term loan to refinance GenCare Lifestyle Tacoma at Point Ruston, a 159-unit senior living facility in Tacoma, Washington.
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Conifex Announces Secured Term Loan
June 14, 2024Conifex Timber Inc. ("Conifex") (TSX: CFF) announced today that it has completed a $25 million secured term loan (the "Term Loan") with PenderFund Capital Management Ltd. ("Pender"), an independent investment firm located in Vancouver, British Columbia.
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Hans Jung Joins KeyBank As Senior Commercial Banking Relationship Manager
June 14, 2024KeyBank announced that Hans Jung has joined the bank as senior relationship manager within its Connecticut and Western Mass. middle-market Commercial Banking team. In this role, he will work with companies with annual revenues from $10 million to $2 billion, offering a range of corporate finance solutions, treasury management, and liquidity solutions tailored to meet their unique business needs.
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Mad Mobile Secures $50 Million in Funding from Morgan Stanley Expansion Capital and Bridge Bank
June 14, 2024Mad Mobile, a pioneering force in restaurant and retail SaaS and payment solutions, is pleased to announce the closure of a $50 million financing agreement. This funding, managed by Morgan Stanley Expansion Capital and Bridge Bank, will be strategically utilized to amplify the expansion of its SaaS and payment technologies, refinance existing debts, and propel sales growth.
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Amerisource Business Capital Closes $2,000,000 Working Capital Facility for Candy Manufacturer
June 14, 2024Amerisource Business Capital announced the closing and funding of a $2,000,000 working capital facility for a candy manufacturer based in Utah. The proceeds will support the company’s ongoing growth and enable it to meet increasing market demand.
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Umpqua Bank 2024 Business Barometer: U.S. Middle Market Optimism Surges, While Small Businesses Proceed Cautiously
June 14, 2024Umpqua Bank, a subsidiary of Columbia Banking System, Inc. (Nasdaq: COLB), today released the findings of its annual Business Barometer, an in-depth study into the mood, mindset and strategic priorities of small and middle market businesses across the U.S. For the first time in its six-year history, the study shows a widening gap between the outlook and plans of middle market companies and small businesses.
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White Oak Commercial Finance Receives $1.1 Billion Credit Facility from Wells Fargo
June 14, 2024White Oak Commercial Finance, LLC (“WOCF”) has closed a new $1.1 billion credit facility agented by Wells Fargo Bank, N.A., and including 11 other banks, increasing the capital that can be invested in asset-based lending (ABL). Additionally, WOCF and White Oak ABL, LLC announced a merger of the two entities into WOCF, which will now be an integrated ABL platform structured to optimally serve this rapidly growing market.
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Solifi Celebrates 50 Years of Secured Finance Software Solutions
June 14, 2024Solifi, a global fintech software partner for secured finance, is celebrating its 50th anniversary after enjoying substantial growth in 2023. Founded in Minnesota as Decision Systems in 1974, the business initially specialized in solutions for equipment finance.
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Kowalsky Joins CohnReznick as Government and Public Sector Advisory Principal
June 14, 2024CohnReznick LLP, one of the leading advisory, assurance, and tax firms in the United States, today announced that Ted Kowalsky is joining the firm as a Principal in its Government and Public Sector Advisory practice. In this role, Kowalsky will focus on advising public sector and commercial businesses on ways to leverage government funding and the tax code in support of a nationwide focus on community resilience, economic development, and sustainability objectives.
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First Citizens Bank Middle Market Banking in SoCal Hires Tao Sung
June 14, 2024First Citizens Bank today announced that its Middle Market Banking group has named Tao Sung as director and relationship manager in the Los Angeles region. Based in the Santa Monica office, Sung will focus on leading his team to develop new business in the area while also supporting a portfolio of existing Middle Market Banking relationships and providing a host of products and services to customers.
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Figure Technology Solutions Announces Figure Connect to Drive Efficiency and Transparency Across Capital Markets
June 14, 2024Figure Technology Solutions (“Figure”), the technology platform streamlining the private credit and housing markets, today announced the launch of Figure Connect, a first-of-its-kind blockchain-based multi-seller, multi-buyer marketplace of private credit loans.
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Stifel & Lord Abbett Form Leveraged Lending Joint Venture
June 14, 2024Stifel Financial Corp. (NYSE: SF) and Lord Abbett, LLC, today announced the formation of a substantial leveraged lending joint venture, SBLA Private Credit. SBLA Private Credit will focus on both new issue and existing loans to small and mid-sized portfolio companies of financial sponsors and compliments the existing capabilities of both firms.
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Vesper Energy Finalizes Hornet Solar Debt Syndication, Representing $592 Million in Financing
June 14, 2024Vesper Energy, a leading renewable energy developer, has successfully finalized construction and term loan syndication for its Hornet Solar project, representing approximately $592 million in investments. The syndication process, initiated after the Hornet Solar project's financial close in December 2023, signals continued investor confidence in the project and Vesper's ability to deliver reliable, resilient infrastructure.
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Monroe Capital Supports Haveli Investments’ Acquisition of Zerofox
June 14, 2024Monroe Capital LLC (“Monroe”) announced it acted as sole lead arranger and administrative agent on the funding of a senior credit facility to support the acquisition of ZeroFox Holdings, Inc. (“ZeroFox”) by private equity sponsor Haveli Investments.
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Rosenthal Closes Two Factoring Transaction Totaling $6.5 Million and $25 Million in Factoring Volume
June 14, 2024Rosenthal & Rosenthal, Inc., the leading factoring, asset-based lending, purchase order financing and inventory financing firm in the United States, today announced the completion of two factoring transactions totaling $6.5 million and $25 million in factoring volume.
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Legacy Corporate Lending Provides $7MM Credit Facility to PostWorks New York
June 12, 2024Legacy Corporate Lending completed a $7 million credit facility for PostWorks New York, a digital motion picture and post production services provider, to support the company’s ongoing capital needs and continued growth.
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Legacy Corporate Lending Provides $10 Million Credit Facility to Franklin Baker Incorporated
June 12, 2024Legacy 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 the completion of a $10 million asset-based revolving line of credit for Franklin Baker Incorporated (“Franklin Baker”).
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Weatherford Announces Expansion of Credit Facility and Amendment of Accordion Size
June 12, 2024Weatherford International plc (NASDAQ: WFRD) (“Weatherford,” and together with its subsidiaries, the “Company,” “we,” “us” and “our”) announced that it has increased its Credit Facility by $40 million to $720 million in aggregate commitments by adding a new lender.
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