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White Oak Provides $75 Million Term Loan Financing to North Atlantic Imports
Apr 11, 2022White Oak Global Advisors, LLC, (“White Oak”) announced today it has provided a $75 million term loan to North Atlantic Imports, which also operates under the name Blackstone Products (“Blackstone” or the "Company"), a Utah-based distributor of branded griddles and accessories. The loan was offered on a split-lien basis alongside a Wells Fargo ABL Revolver.
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MidCap Financial Provides a $30 Million Senior Secured Revolving Credit Facility to Jenni Kayne
Apr 7, 2022MidCap Financial today announced it has provided a $30 million senior secured revolving credit facility to Kayne, LLC (“Jenni Kayne” or “Company”). The MidCap credit facility refinanced the Company’s prior credit facility and will support the Company’s further growth and working capital needs.
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CIT Names New Business Development Leaders and Account Executive-Team Leader in Commercial Services
Apr 6, 2022
CIT, a division of First Citizens Bank, today announced that its Commercial Services business is promoting and hiring new business development leaders to support clients and drive growth in factoring finance in the Northeast and West.
In the Northeast, Howard Moore and Paul Pagano are joining CIT's Commercial Services group as business development directors. Both are based in New York and hold responsibility for developing, maintaining and expanding client and prospect relationships across a wide range of business verticals.
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Shifting Gears: An Interview with Hilco Global’s Betsy Ratto
Apr 5, 2022Betsy Ratto is senior vice president of Hilco Capital Solutions: ReStore Capital and Hilco Corporate Finance, with responsibility to drive business for ReStore Capital and Hilco Corporate Finance. She is responsible for originating and executing corporate finance and capital markets transactions, with a focus on the retail industry and other financing transactions. She joined Hilco in fall 2021 and is based in Hilco’s Boston office.
Here, she discusses her goals at Hilco, challenges and opportunities in the retail sector, differentiating yourself at a non-bank platform, and lessons learned in leadership and career development. -
J.P. Morgan Commercial Banking Announces Leadership Updates for its Equipment Finance Business, Announces Expanded Responsibilities for Mac Fowle as its Head of Capital Finance Solutions
Apr 4, 2022
J.P. Morgan Commercial Banking has named Linda Redding its new Head of Equipment Finance and announced expanded responsibilities for Mac Fowle as its Head of Capital Finance Solutions. Redding will lead a team responsible for helping overseeing equipment finance originations and solutions for business clients. She will report to Fowle, who will oversee the Equipment Finance business while continuing to lead the Asset Based Lending business.
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Leading the Way Forward: A Conversation with the Women of SFNet’s Management and Executive Committees
Apr 4, 2022In 2010, only 19 women served on the SFNet Board of Directors, today there are 46. We’ve doubled the representation of women on the Executive Committee from three to six. Here, we speak with the six women who currently sit on SFNet’s Executive and Management Committees.
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Ares Commercial Finance Has Provided a Senior Secured Credit Facility to MFG Chemical, LLC
Apr 4, 2022Ares Commercial Finance announced today that it has provided a senior secured credit facility to MFG Chemical, LLC, a portfolio company of Platte River Equity. The credit facility consists of an asset based revolving line of credit and a term loan. Proceeds of the credit facility were used to refinance existing indebtedness and for ongoing working capital.
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First Eagle Investments to Acquire Napier Park Global Capital, Expanding Alternative Credit Capabilities
Mar 31, 2022First Eagle Investments ("First Eagle") today announced a definitive agreement to acquire Napier Park Global Capital ("Napier Park"), a leading alternative credit manager with approximately $18.7 billion in assets under management as of December 31, 2021, predominantly for institutions through credit funds, US and European collateralized loan obligations, and real assets. As an autonomous, wholly owned unit of First Eagle Investments, Napier Park will go to market as "Napier Park, a First Eagle Investments Company" and maintain its investment approach, business focus and client service.
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Spirit Realty Capital, Inc. Announces $1.2 Billion Revolving Credit Facility
Mar 30, 2022A total of 15 lenders participated in the amended revolving credit facility, including JP Morgan Chase Bank, N.A. as a Joint Bookrunner, Joint Lead Arranger, Administrative Agent and J.P. Morgan Securities LLC as Sustainability Structuring Agent. Wells Fargo Securities, LLC and Truist Securities, Inc. served as Joint Bookrunners and Joint Lead Arrangers.
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CIT Northbridge and Tiger Finance Arrange Financing of Up to $47 Million for a Leading E-Commerce Seller of Branded Products
Mar 29, 2022
CIT Northbridge Credit, as advised by CIT Asset Management, and Tiger Finance today announced they have arranged up to $47 million in financing for a leading e-commerce seller of branded consumer products.
The financing consists of a $30 million revolving credit facility provided by CIT Northbridge, a $5 million term loan provided by Tiger Finance, and an accordion for up to an additional $12 million. The loans will be used to support the client’s inventory needs and provide capital for future growth opportunities.
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Cybersecurity: Evaluating and Mitigating Borrowers' Risk to Cyber Breaches
Mar 28, 2022On March 18, SFNet hosted a Webinar, “Cybersecurity: Evaluating and Mitigating Borrowers' Risk to Cyber Breaches”. It discussed current trends in cyber threats to commerce and the potential impact to borrowers, and the steps lenders and borrowers can take to guard against and mitigate and recovery from cyber-attacks or data breaches. Panelists focused on due diligence steps lenders should consider in assessing risk and the steps they may need in their lending agreements.
Tina Capobianco, senior vice president, J D Factors served as moderator. Panelists included Thomas J. DeMayo, principal, Cybersecurity and Privacy Advisory, PKF O'Connor Davies, LLP; Steven Teppler, of counsel, Mandelbaum Barrett P.C. and Louis Natale, chief credit officer, White Oak Commercial Finance. PFK Clear Thinking and White Oak Commercial Finance sponsored the webinar.
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Industry Veteran DJ Krystopa Joins LSQ
Mar 28, 2022LSQ, a leading provider of technology-driven working capital financing and payments solutions, announces the hire of DJ Krystopa as its new Regional Vice President for Sales and Bank Partnership Development. In her role, Krystopa, an alumna of La Salle University, is responsible for building strategic relationships with financial institutions and referrer networks to help LSQ grow its offerings to its clients. -
White Oak Delivers $100 Million Term Loan Financing To Support IT Services Provider Acquisition
Mar 28, 2022White Oak Global Advisors, LLC (“White Oak”), announced it arranged and closed a $100 million term loan to support the acquisition of a large US-based multi-channel IT services provider by a Canadian IT services platform. White Oak’s term loan alongside a $40 million asset-based credit facility provided the platform business with an efficient and holistic funding solution.
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Arena Investors Closes a $300 Million Senior Secured Credit Facility Structured and Agented by Encina Lender Finance to Support Arena’s Middle Market Cash Flow Based Lending Platform
Mar 23, 2022Arena Investors, LP (“Arena”) and Encina Lender Finance, LLC (“ELF”) are pleased to announce the closing of a $300 million credit facility (which includes an accordion feature) for Arena’s Corporate Private Credit business segment, which provides capital to privately-held companies.
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Siena Lending Group Announces Credit Facility Increase to $575MM
Mar 22, 2022Siena Lending Group LLC ("Siena"), a leading independent asset-based lending company, today announced it has increased its senior credit facility with Wells Fargo Capital Finance to $575 million. This upsize will enable Siena to continue its growth following a historic year where they closed over $565 million in facilities across 20 relationships.
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Interview with Eileen Kowalski, Member of SFNet’s Diversity, Equity & Inclusiveness Committee
Mar 22, 2022Eileen Kowalski is SVP and manager of Training, Development, Quality Control, Recruiting and Diversity & Inclusion for PNC Business Credit.
Kowalski is a 30-plus year veteran of commercial finance and asset-based lending. She is integral to PNCBC’s Field Exam training program and to the team tasked with developing talent for PNCBC. Eileen joined PNCBC in 2004 as an AVP & Senior Field Examiner after serving as a Field Examiner for a predecessor bank of M&T Bank and an AVP & Senior Field Examiner with LaSalle Bank. Eileen’s responsibilities also include field exam quality control, campus and experienced hire recruiting activities and she serves as editor-in-chief for the quarterly PNCBC employee newsletter. She chairs the Business Credit D&I Committee and is a member of the C&IB/AMG DEI Council. Eileen is a member of the SFNet Education Committee, the SFNet DEI Committee and is the SFNet Education Champion for PNCBC. She is also a member of the quarterly WISF Newsletter committee.
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Eclipse Business Capital Provides $15 Million Revolving Credit Facility
Mar 21, 2022
Eclipse Business Capital LLC (“EBC”) announced today that it has provided a $15 million senior secured revolving credit facility to a commercial hospitality furniture manufacturer and designer.
The credit facility is secured by accounts receivable and inventory and will be used to refinance an existing facility and to support ongoing working capital.
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Lexicon Enters Into Loan Facility With Oxford Finance For Up To $150 Million To Support Planned Commercialization Of Sotagliflozin
Mar 21, 2022Lexicon Pharmaceuticals, Inc. (Nasdaq: LXRX) today announced it entered into a loan facility with Oxford Finance LLC that provides up to $150 million in borrowing capacity designed primarily to support commercial preparations and the potential launch of sotagliflozin in heart failure.
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White Oak Healthcare Finance Provides $395 Million Senior Credit Facility to Genesis Healthcare, Inc.
Mar 17, 2022
White Oak Healthcare Finance, LLC (“White Oak”) announced today that it acted as sole lender and administrative agent for a $395 million senior credit facility to Genesis Healthcare, Inc. (“Genesis”).
With roots dating back to 1985, Genesis is a holding company with subsidiaries that, on a combined basis, offer services to more than 250 skilled nursing facilities and assisted/senior living communities in 22 states nationwide. Genesis affiliates provide high-quality post-acute care, long-term care and assisted/senior living services in the local markets in which they serve.
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Interview with Ikhwan Rafeek, Member of SFNet’s Diversity, Equity & Inclusiveness Committee
Mar 17, 2022Ikhwan Rafeek is a Member in the Otterbourg P.C.’s Banking and Finance Department.
Ikhwan represents institutional lenders, banks, commercial finance companies, and factors in connection with the documentation of domestic and international secured lending arrangements, including asset-based, term loan, healthcare, real estate, middle market, leveraged, and first and second lien loan transactions. Mr. Rafeek also frequently represents secured lenders in workouts and restructurings, and in portfolio acquisitions and dispositions.
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