Articles

Rosenthal & Rosenthal, Inc., the leading factoring, asset based lending and purchase order financing firm in the U.S., today announced that Peter Rosenthal and Ken Kleiner have been named Co-Presidents.

Since 2007, Kleiner has served as Chief Marketing Officer and Rosenthal as President. The two joined the firm in 1998. As Co-Presidents, Rosenthal and Kleiner will guide the organization together and collaborate to continue to grow the firm’s reach and capabilities.

Of particular interest to SFNet Factoring Community

On August 30, 2021, SFNet reported that it had filed papers with New York’s highest state appellate court seeking to appear as amicus curiae and to file a brief supporting a secured lender’s request for review of a problematic set of rulings that threaten to impose unique and unfounded burdens with respect to loans secured by a borrower’s accounts.

On January 11, 2022, the Court granted SFNet’s motion to appear as amicus curiae and accepted SFNet’s brief into the record in the case in connection with granting the lender’s motion for leave to appeal. 

Rosenthal & Rosenthal, Inc., the leading factoring, asset based lending and purchase order financing firm in the U.S., today announced the completion of two recent financing commitments, a $3.5 million purchase order finance commitment to support the production financing requirements of a New York-based home furnishings importer and distributor as well as a separate $500,000 work in process production commitment for a government contractor specializing in personal protection wear.  

A list of the most viewed stories from 2021 published in TSL Express.

Mitsubishi UFJ Financial Group (MUFG) announced today the hiring of Kimberly Boulmetis as a Managing Director and Head of U.S. Financial Institutions for the Debt Capital Markets group.

Based in New York, Ms. Boulmetis will assume her new role in January and report to Richard Testa, Head of Investment Grade Finance. She will be responsible for leading coverage of MUFG's broad roster of financial institution clients—including banks, insurance companies, asset management firms, private equity sponsors and business development companies (BDCs)—and for delivering the group's full gamut of capital markets capabilities to issuers of investment-grade debt.

Greetings and Happy New Year! There is much to be excited about as our network of secured lenders and service providers presses forward, fulfilling our essential purpose of putting capital to work. After a record year of member engagement and innovation, and a successful Annual Convention that marked our return to live events, we are eager to build on those achievements.   

In 2022 we will carry over some of our most our most popular member-only benefits, such as company-wide registration for virtual and hybrid programs, free Crucial Conversation webinars and Member Forums, committee opportunities and editorial privileges, and differentiated event pricing. New this year will be FREE unlimited access to our popular on-demand education classes for all members. 

Terry M. Keating is managing partner of Donald J. Keating & Sons.

Donald J. Keating & Sons provides broad-based consulting and advisory services to middle market companies and private equity with orientation to the financial services industry. Terry has over 30 years of leadership and operational experience knowledge and expertise developing “best practices” necessary for success serving as the leader | advisor within the financial services sector. Terry is currently serving as an independent member of the Board of Directors of a private equity owned commercial finance company and serving as a special advisor to an independent private equity sponsor.

On December 29, 2021, SPH Group Holdings LLC, Steel Excel Inc. and IGo, Inc. (collectively, the "Borrowers"), each an indirect wholly-owned subsidiary of Steel Partners Holdings L.P. (the "Company"), amended and restated its Prior Credit Agreement (as defined below) with an amended and restated credit agreement (the "New Credit Agreement"), with PNC Bank, National Association, in its capacity as administrative agent, the Lenders party thereto, and certain of the Borrowers' affiliates in their capacities as guarantors (the "Guarantors" and, together with the Borrowers, the "Loan Parties"). Capitalized terms used but not otherwise defined herein shall have the meanings ascribed to such terms in the New Credit Agreement.

Citizens announced today that it has provided financing to San Francisco-based PRO Unlimited Global Solutions Inc.

Established in 1991, PRO Unlimited is a leading provider of end-to-end contingent workforce management solutions to a broad range of global clients and has been a Citizens client for more than 10 years.

The first financing was new $900 million asset-based senior credit facilities, comprised of an $825 million asset-based revolving credit facility and a $75 million First In, Last Out (“FILO”) tranche, to support EQT Private Equity’s acquisition of the company from Harvest Partners, LP and its affiliates and Investcorp.