- Prairie Operating Co. Announces $1 Billion Reserve Based Lending Facility with Citibank, N.A.
- CIBC Innovation Banking Provides Growth Capital to AI-Powered Go-to-Market Platform Landbase
- NXT Capital Closes Senior Credit Facility in Support of Broad Sky Partners’ Acquisition of Frontline Managed Services
- Vesta Announces Closing of US$545 Million Global Syndicated Sustainable Credit Facility Including US$200 Million Revolving Credit Facility
- Pathward Lends $15 Million to Transportation Parts Distributor to Provide Working Capital
TSL Express Daily Articles & News
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Gordon Brothers Welcomes Mark Bohntinsky as Global Head of Credit
As Gordon Brothers, the global asset experts, continues to expand its lending business, the firm has welcomed Mark Bohntinsky as Global Head of Credit.
Bohntinsky oversees Gordon Brothers’ credit quality, setting portfolio strategy and partnering with key lending stakeholders globally, including Kyle Shonak, Head of North America Lending, to expand the firm’s capital base and pursue a wider array of lending opportunities. Additionally, he is a member of the investment committee.
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Armstrong Flooring Bankruptcy: The Alchemy of Creating Value from Accounts Receivable
Finding the right combination of capital resources and strategic knowledge in the sale and restructuring of a business is complicated; but when it works, this seemingly magical process of transformation creates incremental value for all constituents involved in the bankruptcy process. Take the case of Armstrong Flooring, and three affiliated companies, that each filed petitions in the United States Bankruptcy Court for the District of Delaware seeking relief under Chapter 11 on May 8, 2022.
TSL Express Daily Headlines & News
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Republic Business Credit Funds $750,000 Factoring Facility for Southeastern HVAC Company
September 16, 2024After achieving success and notoriety through excellent service to its residential community, a Southeastern-based HVAC company sought the opportunity to grow with several large, commercial facilities. The company did not have a working capital facility, so it called Renasant Bank.
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Assembled Brands Capital Welcomes Dirty Labs to Its Lending Portfolio
September 16, 2024Assembled Brands Capital is excited to announce a strategic lending partnership with Dirty Labs, a trailblazer in the sustainable cleaning products industry. Known for its groundbreaking approach to green chemistry and eco-friendly cleaning solutions, Dirty Labs has established itself as a leader committed to revolutionizing the cleaning sector with science-driven, environmentally conscious products.
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SLR Business Credit Provides $2 Million Line of Credit to 904 Security, LLC
September 16, 2024SLR Business Credit LLC (“SLR Business Credit”) is pleased to announce the funding of a $2 million credit facility for a leading Security and Maintenance of Traffic scheduling company, 904 Security, LLC. 904 Security provides Security and Maintenance of Traffic solutions to communities throughout Florida by deploying highly trained police officers.
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NXT Capital Closes Senior Credit Facility in Support of Revelstoke Capital Partners’ Investment in MediQuant
September 16, 2024NXT Capital announced today that it closed a senior credit facility in support of Revelstoke Capital Partners’ investment in MediQuant. NXT Capital acted as Joint Lead Arranger, Joint Bookrunner, and Administrative Agent on this transaction.
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Castlelake Agrees Sale of $5 Billion Aircraft Portfolio to Avolon
September 16, 2024Castlelake L.P. ("Castlelake"), a global alternative investment manager specializing in asset-based investing with nearly 20 years of experience in aircraft investing, leasing and servicing, today announced it has entered into a sale-purchase agreement with Avolon, a leading global aviation finance company, for the sale of a $5 billion, 118-aircraft portfolio held by Castlelake Aviation Limited ("CA Ltd.").
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First Trust Announces Timing of Reorganization of First Trust/abrdn Global Opportunity Income Fund with and into abrdn Income Credit Strategies Fund
September 16, 2024First Trust Advisors L.P. (“FTA”) announced today the timing of the closing of the reorganization First Trust/abrdn Global Opportunity Income Fund (NYSE: FAM) (the “Fund”) with and into abrdn Income Credit Strategies Fund (“ACP”).
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Latham Advises 2U in Its Emergence From Bankruptcy
September 16, 20242U, a global leader in online education, announced it has successfully completed its financial restructuring and emerged from Chapter 11 as a privately held entity. With this transaction complete, 2U now operates with a significantly strengthened balance sheet, firmly positioning the company to support leading universities in delivering high-impact, career-focused education essential for building a skilled global workforce. 2U moves forward with complete continuity of its operations and the full support of a deeply aligned new ownership group.
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Cleveland-Cliffs Successfully Amends Asset-Based Lending Facility
September 16, 2024Cleveland-Cliffs Inc. (NYSE: CLF) (“Cliffs”) today announced that it successfully amended its $4.75 billion Asset-Based Lending (ABL) facility as part of the financing for the pending acquisition of Stelco Holdings Inc. (“Stelco”). Cliffs has completely replaced Goldman Sachs’ participation with increased commitments from Bank of America, Wells Fargo, J.P. Morgan, Fifth Third, Truist, Capital One, BMO, Huntington, and U.S. Bank.
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Concord Summit Capital and 3650 REIT Close $83 Million Midconstruction Loan for Westchester County Mixed-Use Residential and Retail Development
September 16, 2024Concord Summit Capital, LLC (“Concord Summit”), a nationally prominent real estate investment banking company, has closed on $83 million in construction financing for completion of a mixed-use residential and retail project in New Rochelle, N.Y.
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Wolters Kluwer Introduces BizFilings Podcast Series for Businesses Navigating U.S. Corporate Transparency Act Reporting Rule
September 16, 2024Wolters Kluwer has developed a series of informative podcasts under its BizFilings brand to promote a greater understanding among owners of small business entities that are subject to the Corporate Transparency Act’s (CTA) beneficial ownership information (BOI) reporting rule.
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nFusion Capital Provides $8 Million Factoring Line to a High-Tech Mug Distributor
September 16, 2024nFusion Capital announced it provided an $8 million factoring line to a high-growth and high-tech mug distributor using patented temperature control technology to keep beverages at a continuously precise temperature.
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MidCap Financial Provides Senior Secured Credit Facility to Sunshine Behavioral Health
September 16, 2024MidCap Financial, a leading commercial finance company focused on middle market transactions, today announced it has provided a senior secured credit facility to Sunshine Behavioral Health Group LLC (“Sunshine” or “Company”). Proceeds from the credit facility will refinance existing debt and support Sunshine’s growth and ongoing working capital needs.
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Cornerstone Capital Bank Among Fastest Growing Banks in the Nation
September 16, 2024Two years after its formation, Cornerstone Capital Bank, a preeminent national provider of mortgage origination and servicing solutions and consumer, commercial and institutional banking services, has defied market trends to become one of the fastest growing banks in the country.
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JPalmer Collective Fuels 8Greens’ Growth
September 16, 2024JPalmer Collective (JPC), an asset-based lending company committed to funding high-growth, women-led and natural products companies, today announced the closing of a line of credit to 8Greens, a female-founded company dedicated to promoting health & wellness through its innovative dietary supplements.
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Commercial Finance Partners Successfully Closes Four New Factoring Transactions
September 16, 2024Commercial Finance Partners (CFP) is proud to announce the recent funding of four new factoring facilities, each addressing the specific financial needs of our growing client base. These transactions highlight CFP’s expertise in navigating complex situations to deliver timely and effective funding solutions.
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Trinity Capital Inc. Provides $30 Million in Growth Capital to Slingshot Aerospace
September 16, 2024Trinity Capital Inc. (NASDAQ: TRIN) ("Trinity"), a leading provider of diversified financial solutions to growth-oriented companies, today announced the commitment of $30 million in growth capital to Slingshot Aerospace ("Slingshot"), a leader in AI-powered solutions for satellite tracking, space traffic coordination, and space modeling and simulation.
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TAB Bank Backs Dirty Dough’s Sweet Success with $2 Million Working Capital Facility
September 16, 2024TAB Bank has announced the closing of a $2 million working capital facility for Dirty Dough, a rapidly expanding gourmet cookie company based in Lindon, Utah. The financing will provide Dirty Dough with the ingredients to support its continued growth and nationwide expansion.
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Horizon Technology Finance Provides $35 Million Venture Loan Facility to GT Medical Technologies
September 16, 2024Horizon Technology Finance Corporation (NASDAQ: HRZN) (“Horizon” or the “Company”), an affiliate of Monroe Capital, and a leading specialty finance company that provides capital in the form of secured loans to venture capital-backed companies in the technology, life science, healthcare information and services, and sustainability industries, today announced it has provided a $35 million venture loan facility to GT Medical Technologies, Inc. (“GT MedTech”), of which $15 million has been initially funded.
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Sound Point Capital Closes Third Direct Lending Fund
September 16, 2024Sound Point Capital Management, LP (“Sound Point”), a leading global alternative credit manager with more than $45 billion in assets under management, today announced the final closing of Sound Point U.S. Direct Lending Fund III (“USDL III” or the “Fund”), its largest direct lending fund to date, with $1.2 billion of total investable capital.
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Switch Secures $5 Billion in New Debt Financing
September 16, 2024Deal includes $4.25 billion sustainability-linked borrowing base facility, along with an expanded corporate revolving credit facility upsized to $770 million, strategically positioning Switch for growth at the forefront of enterprise, hyperscale cloud and AI opportunities.
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The Secured Lender
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