- News Detail
- Gray Television Makes Significant Progress on Debt Reduction and Replenishes Authorization for Additional Debt Reduction
- SMBC MANUBANK Announces Multiple Key Hires Across Credit, Accounting, and Technology Functions to Support Growth
- Audax Private Debt Provides Financing to Support Comvest Private Equity’s Acquisition of Riccobene Associates Family Dentistry
- Prominent Structured Finance Partner Joins Latham & Watkins in New York
TSL Express Daily Articles & News
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Bladex and Greenbridge Capital - Toesca and TC Latam JV- Announce Launching of Latin American Factoring Platform
Banco Latinoamericano de Comercio Exterior - Bladex (NYSE:BLX), TC Latin America Partners (TC Latam) and Toesca Asset Management (Toesca) announce the launch of Greenbridge Capital, a regional private lending platform, whose first factoring vehicle will be funded by Bladex. The joint venture will begin operations in Chile before the end of 2023 with plans to expand to other countries in the region such as Colombia, Peru and Mexico.
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While retail data reported at the mid-summer mark pointed to a strong labor market, steady consumer spending in certain categories and retail sales up from last year for several straight months, the data only tells one side of the story. The numbers are merely inching forward, as growth across many sectors has been sluggish, if not altogether fl at. This year has unexpectedly been a mixed bag for the retail and credit market, and with continued volatility and an overall lackluster economic forecast, businesses and lenders must be prepared for any scenario.
TSL Express Daily Headlines & News
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Holland & Knight Grows Southern California Finance Practice With Additions of Paul Severin, Kristin Bacchus and Patricia Whitten
June 3, 2024Finance attorneys Paul Severin, Kristin Bacchus and Patricia Whitten have joined Holland & Knight’s nationally recognized Financial Services Practice Group in Los Angeles as partners. They were previously partners with Loeb & Loeb, where Mr. Severin recently served as Vice Chair of the firm.
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Air Industries Group Reports Amendment to Loan Agreement with Webster Bank
June 3, 2024Air Industries Group (“Air Industries”) (NYSE American: AIRI), a leading manufacturer of precision components and assemblies for large aerospace and defense prime contractors, today reported that it has reached an agreement with Webster Bank, its primary lender to amend the Company’s Current Credit Facility.
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Mercantile Bank Corporation Implements Management Succession Plan
June 3, 2024Mercantile Bank Corporation (NASDAQ: MBWM) implemented the following resignations and appointments, in furtherance of its previously announced management succession plan, effective as of June 1, 2024:
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LaVie Care Centers Takes Strategic Actions to Position the Company for Long-Term Success Amidst Challenging Skilled Nursing Operating Environment
June 3, 2024LaVie Care Centers, LLC (the "Company"), an operator of 43 licensed skilled nursing facilities in five states, today announced that it has taken steps to implement a financial restructuring designed to improve its capital structure and position the Company for long-term success.
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Private Credit Has a New Workaround to Allow Borrowers to Defer Interest Payments
June 3, 2024A controversial lending structure that lets companies pay interest with more debt is getting a new spin from private credit. Direct lenders including Blue Owl Capital Inc. have pitched deals in recent weeks that include a “synthetic PIK,” a feature that lets companies make some of the interest payments with additional borrowing without having to count the debt as being serviced “in kind,” according to people with knowledge of the matter.
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New Mountain Capital and Grant Thornton Close Growth Investment
June 3, 2024Grant Thornton LLP, one of America’s leading providers of audit, assurance, tax and advisory services, and New Mountain Capital, a leading growth-oriented investment firm with approximately $50 billion in assets under management, today announced the closing of a significant growth investment in Grant Thornton that will accelerate the firm’s business strategy. CDPQ and OA Private Capital made minority investments in Grant Thornton alongside New Mountain Capital.
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FLINT Extends Maturity Date of Credit Facility, Term Loans and Senior Secured Debentures
June 3, 2024FLINT Corp. (“FLINT” or the “Company”) (TSX: FLNT) today announced that it has extended the maturity dates of (i) its Asset-Based Revolving Credit Facility with The Toronto-Dominion Bank that provides for maximum borrowings of up to $50 million to April 14, 2027 (previously April 14, 2025), (ii) its Term Loan Facility with Canso Investment Counsel Ltd., in its capacity as portfolio manager...
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CalAmp Files Bankruptcy to Complete Lender-Backed Restructuring
June 3, 2024CalAmp Corp., which develops software designed to track vehicles and improve company logistics, has filed bankruptcy to complete a debt-cutting deal that hands control of the business to lender Lynrock Lake Master Fund LP.
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First Business Financial Services, Inc. Promotes Brad Quade To Executive Vice President & Chief Credit Officer
June 3, 2024First Business Financial Services, Inc., parent company of First Business Bank, is pleased to announce Brad Quade’s recent promotion to Executive Vice President & Chief Credit Officer.
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XCMG America Financial Announces the Expansion of the XCMG QuickFi Financing Program into Canada
June 3, 2024XCMG America Financial announces its expansion of its North American financing platform into Canada, supported by QuickFi®. The new XCMG program enables nearly instant loans and leases for XCMG equipment purchasers in Canada.
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QuickFi® Wins Best Embedded Finance Solution at the 2024 Banking Technology Awards USA
June 3, 2024QuickFi® is honored to win Best Embedded Finance Solution at the 2024 Banking Tech Awards USA. Other finalists included J.P. Morgan Chase, HSBC Bank USA, Wells Fargo, Morgan Stanley, Intuit, Fiserv, and SoFi. QuickFi is honored to be selected as the Best Embedded Finance Solution winner.
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CVC Credit Prices $500m Apidos XLVIII
June 3, 2024CVC Credit, the $43bn global credit management business of CVC, is pleased to announce that it has successfully priced Apidos XLVIII (48), a new $500m (c.€460m) Collateralized Loan Obligation ("CLO"). Barclays served as lead arranger for CVC Credit’s second CLO pricing in North America this year.
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Denim Secures $63 Million Warehouse Facility from Silicon Valley Bank and Trinity Capital Inc.
June 3, 2024Silicon Valley Bank (SVB), a division of First Citizens Bank, along with lending partner Trinity Capital Inc. ("Trinity"), today announced that it has provided a $63 million warehouse facility to Denim, a technology-forward factoring partner for freight brokers.
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Celtic Capital Corporation Provides Financing for an Oil and Gas Extraction Services Company
June 3, 2024Celtic Capital Corporation today announced its most recent new client relationship – an oil and gas extraction services company located in the Western Midwest region. The business suffered reduced revenues from the COVID era and to recover, needed additional working capital. Its current bank was unwilling to provide the Company with the needed funds so management turned to Celtic Capital.
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WeWork Secures Final Court Approval for Transformational Restructuring
June 3, 2024-WeWork announced today that its Plan of Reorganization has been confirmed by the United States Bankruptcy Court for the District of New Jersey, a final step in the Company’s operational and financial restructuring. The Company expects to emerge from Chapter 11 in mid-June, following the completion of routine administrative matters.
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H.I.G. WhiteHorse Europe Refinances Astek
June 3, 2024WhiteHorse Europe, a credit affiliate of global investment firm H.I.G. Capital (“H.I.G.”), is pleased to announce that it has co-arranged a new €450 million financing package for Astek (the “Company” or the “Group”).
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Austin Financial Services, Inc. Announces $10 Million ABL Facility for Foodservice Equipment Manufacturer & Distributor of Commercial Kitchen Equipment
June 3, 2024Austin Financial Services, Inc. (AFS) is pleased to announce the closing of a $10MM ABL facility, comprised of an AR and Inventory revolver to an industry leading foodservice equipment manufacturer & distributor of commercial kitchen equipment. The Company was seeking a lending partner who could provide greater flexibility and more availability than its current bank lender, while also understanding the unique challenges inherent to its business and their industry.
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White Oak Real Estate Capital and Thorofare Team Up on Tribeca Self-Storage Conversion
June 3, 2024White Oak Real Estate Capital (“WOREC”), an affiliate of White Oak Global Advisors, and Thorofare Capital today announced a $21.5 million two-year, floating rate senior loan for the acquisition and conversion of 78 Walker Street into a Class A, self-storage facility to-be operated by Public Storage.
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Peloton Announces Successful Completion of $1.35 Billion Holistic Refinancing
May 30, 2024Peloton Interactive, Inc. ("Peloton") (NASDAQ: PTON) today announced it has successfully completed a holistic refinancing that reduced overall debt, extended debt maturities and achieved more flexible loan terms.
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LSQ Creates $3MM Invoice Finance Facility for NJ-based Aerospace Manufacturing Firm
May 30, 2024LSQ, a leading provider of working capital and payments management solutions, recently originated a $3 million accounts receivable credit facility for an aerospace manufacturer based in New Jersey.
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