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  • Merit Medical Announces New Five-Year Senior Secured Credit Agreement
    Jun 8, 2023
    The credit agreement includes a revolving credit facility in an aggregate principal amount of up to $700 million and a term loan facility in an aggregate principal amount of up to $150 million. Wells Fargo Bank, National Association is acting as administrative agent for a group of financial institutions providing the new credit facilities.
  • SLR Digital Finance Closes $10 Million Line of Credit for a Minority-owned Media Business
    Jun 6, 2023
  • SFNet 2023 Market Sizing Study Documents a Mammoth-Sized $4.866-Trillion U.S. Secured Finance Market
    Jun 6, 2023
    The Secured Finance Network’s (SFNet) new Secured Finance Market Sizing and Impact Study reports that the total secured financing volume of transaction flows to U.S. commercial businesses in 2022 was nearly $4.9 trillion. In other words, the scope of this market, which comprises seven major financing categories, “underpins, either directly or indirectly, over one-fifth of…the transaction volumes that make up the $23 trillion in U.S. Gross Domestic Product (GDP),” according to the study.
  • Gordon Brothers Appoints Peter B. York as Senior Advisor to the Executive Team
    Jun 5, 2023
    Gordon Brothers, the global advisory and investment firm, has appointed Peter B. York as Senior Advisor to support the executive team with the firm’s growth and expansion plans.

    York will leverage his experience in asset-based lending (ABL), capital markets and secured lending to provide advice and counsel to the business, assist with evaluating capital deployment for Gordon Brothers’ global lending practice, and give strategic and tactical advice on the structuring of loan products.
  • Clark-Griffith--2023 Headshot_150 SFNet Member Spotlight: Legacy Corporate Lending, LLC
    Jun 5, 2023
    Legacy Corporate Lending is an independent asset-based lending company within the middle market. Legacy provides revolving lines of credit and term loan commitments from $10 to $40 million in transaction size.
  • House_Sarah_2022_150 Interview with Sarah House, Senior Economist for Wells Fargo’s Corporate and Investment Bank
    Jun 1, 2023
    Sarah House is a managing director and senior economist for Wells Fargo’s Corporate and Investment Bank. Based in Charlotte, NC, she covers the U.S. macro economy, including the labor market, inflation trends, and monetary policy. Sarah frequently speaks about the economy to the national media, including The Wall Street Journal, Bloomberg News, CNBC and National Public Radio. She will be speaking at the SFNet’s Women in Secured Finance Conference on June 15. 
  • Heritage Global Announces New Upsized $17 Million Credit Facility with C3bank
    Jun 1, 2023
    Heritage Global Inc. (NASDAQ: HGBL) (“Heritage Global,” “HG” or “the Company”), an asset services company specializing in financial and industrial asset transactions, today announced an upsized $17 million credit facility with C3bank which includes the renewal of its existing $10 million line of credit as well as a new $7 million term loan.
  • SLR Credit Solutions Agents Term Loan and Wells Fargo Provides Line of Credit For Skullcandy®
    Jun 1, 2023

    Massachusetts – SLR Credit Solutions (“SLR CS”) announced the closing of a secured first lien term loan in concert with a new revolving line of credit from Wells Fargo for Skullcandy, Inc.® (“Skullcandy”) or the (“Company”).

    Proceeds from the financing were used to refinance existing debt and provide enhanced flexibility.

  • Hugh Larratt-Smith_150 The Use of Covenants in a Discretionary Factoring Facility
    May 30, 2023

    SFNet’s Crucial Conversations webinar, “The Value and Effective Use of Covenants in a Factoring Transaction,”

    focused on why covenants are needed in a discretionary factoring facility; covenant types and reporting frequency; the art of picking the right covenant(s) and more. Here, panelist Hugh Larratt-Smith provides a recap of the webinar.

  • MidCap Financial Closes $44mm Senior Secured Credit Facility to AleraCare
    May 30, 2023
    MidCap Financial, a leading commercial finance company focused on middle market transactions, today announced it has provided a $44mm senior secured credit facility to AleraCare Intermediate, LLC (“AleraCare” or “Company”).
  • Sparks Announced the Closing of a One-Year Extension of its $43 Million Revolving Credit Facility with Renzo Capital Corp.
    May 30, 2023
    Renzo Capital Corp. Sparks announced the closing of a one-year extension of its $43 million revolving credit facility with Renzo Capital Corp. 
  • Lifecore Biomedical Enters into $150 Million New Financing Deal
    May 25, 2023
    Lifecore Biomedical, Inc., a fully integrated contract development and manufacturing organization (CDMO), has entered into a broad set of agreements with its long-term customer, Alcon, which provides for the repayment of the company’s existing credit agreement with its current lenders and substantially increases the amount of hyaluronic acid (HA) that Lifecore is expected to supply for use in Alcon’s commercial products.
  • Siena Lending Group Closes A $25 Million Credit Facility To Finance Acquisition Of National Railway Equipment Co.
    May 23, 2023
    Siena Lending Group LLC ("Siena")is pleased to announce the closing of a $25 million asset-based credit facility for TRM NRE Acquisition LLC to finance the acquisition of certain assets of National Railway Equipment Co. (“NRE” or the “Company”). Siena’s revolving credit and delayed draw term loan facility was closed in only 19 days to finance TRM Equity’s (“TRM”) purchase of certain assets of NRE and their ongoing working capital needs. Armory Securities, LLC (“Armory”) acted as the Company’s advisor on their restructuring, sale and financing.

     
  • CIT Northbridge Credit Refinances and Upsizes $45 Million Credit Facility with Tubular Synergy
    May 22, 2023

    First Citizens Bank today announced that CIT Northbridge Credit, as advised by CIT Asset Management LLC, has provided $45 million to refinance and upsize a secured credit facility for Tubular Synergy Group LP, a privately held sales, marketing and supply chain services distributor.

    Founded in 2008 and headquartered in Dallas, Texas, Tubular Synergy Group provides casing, tubing, and line pipe products for the energy industry.

  • KKR Taps Pietrzak as Sole Global Head of Private Credit
    May 22, 2023

    Daniel Pietrzak, a partner at KKR & Co., has been named the alternative money manager's sole global head of private credit, a spokeswoman said in an email Friday. Mr. Pietrzak was named the sole global head following the departure of fellow partner and co-head of private credit Matthieu Boulanger to pursue other opportunities, the spokeswoman said.

  • CIT Northbridge Credit Provides $40 Million Credit Facility for Tronair
    May 18, 2023
    First Citizens Bank today announced that CIT Northbridge Credit, as advised by CIT Asset Management LLC, has provided $40 million in financing for Tronair, a leader in the manufacturing of ground support equipment, aftermarket replacement parts and services for the global aviation market.
  • MidCap Financial Closes $325mm Senior Revolving Credit Facility to Revlon
    May 16, 2023
    MidCap Financial, a leading commercial finance company focused on middle market transactions, today announced it has provided a $325mm senior revolving credit facility to Revlon Intermediate Holdings IV LLC. (“Revlon” or “Company”) in connection with Revlon’s successful emergence from Chapter 11.  
  • Vice Media Files for Bankruptcy
    May 15, 2023
    Vice will enter into a purchasing agreement with a number of its vendors to try and stay afloat, according to a filing in New York federal court. The group, led by Fortress Investment Group, Soros Fund Management, and Monroe Capital, will purchase Vice's assets for $225 million and take on liabilities as high as $1 billion, the filing said.
  • TPG to Acquire Angelo Gordon
    May 15, 2023
    TPG Inc. (NASDAQ: TPG), a leading global alternative asset management firm, and Angelo Gordon, a $73 billion1,2 alternative investment firm focused on credit and real estate investing, today announced that the companies have entered into a definitive agreement under which TPG will acquire Angelo Gordon in a cash and equity transaction valued at approximately $2.7 billion, based on TPG Inc.’s share price as of May 12, 2023, including an estimated $970 million in cash and up to 62.5 million common units of the TPG Operating Group and restricted stock units of TPG, in each case, subject to certain adjustments.
  • Nathan Pettit-NYU-150 SFNet Partners with NYU Stern to Offer new Course - Impactful Leadership for High Potentials, Bringing a Multi-faceted Learning Experience
    May 11, 2023

    The Secured Finance Foundation has joined forces with NYU Stern Executive Education to bring a multi-faceted learning experience taught by NYU Professor, Nathan Pettit (pictured) coupled with real-world secured finance applications.

    This two-day course, held in person at NYU Stern June 20-21, will introduce attendees to a variety of analytical frameworks while simultaneously modelling tactical approaches – all with the focus on developing leadership skills.

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