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  • Kapadia Joins MUFG From JPMorgan to Lead Capital Markets Business Globally

    Mitsubishi UFJ Financial Group (MUFG), one of the world's leading financial groups, today announced that it has hired Rajesh "Raj" Kapadia as International Head of Capital Markets. Mr. Kapadia will be responsible for the oversight, operation, and growth of MUFG's Capital Markets business globally, including debt and equity capital markets and leveraged finance.

  • USA Technologies Announces New Credit Facility with JP Morgan Chase Bank, N.A.
    The Credit Agreement provides for a $5 million secured revolving credit facility and a $15 million secured term facility, which includes an uncommitted expansion feature that allows USAT to increase the Credit Facility by up to $5 million. The new facility replaces its existing debt facility, which it entered into on October 9, 2019.
  • PaulSchuldiner_Headshot_150X150 Purchase Order Financing: Then, Now and What’s Ahead
    Purchase order financing has been around nearly as long as its close relatives (factoring) and distant ones (merchant banking), but has become much more prevalent in the last decade. With better technology and other innovations accelerating manufacturing and production timelines to meet demand from e-commerce and big box customers, the global supply chain has never been under more stress. We see this with the China tariffs, Brexit and other significant changes to trade policy. Purchase order financing has never been a more valuable option for companies buying and selling around the globe.
  • The Way Forward for Secured Finance Requires Adaptation, Leadership, Data and Due Diligence

    The COVID-19 crisis of 2020, like a stress test for businesses and funders, created a landscape of winners and losers. For those passing the test, there are more lending options and potential buyers as M&A activity begins to sprout.

    Some had a good “runway” ahead of the regional lockdowns; they were already digital companies or were well capitalized. Others enjoyed being in high-demand sectors such as groceries, technology, home goods, outdoor products, and delivery transportation.

    For those companies that were well positioned or adapted quickly, business growth continues, and for those more challenged due to business restrictions, secured finance has been invaluable, along with government rescue loans. This was a repeated theme throughout the annual SFNet Convention held virtually November 17-19. This article covers many of the 34 presentations on the theme: “This Way Forward.”

  • Julia Gavrilov_150 Diversity, Equity and Inclusion Are the Necessary Corporate Differentiators

    A Moritt Hock & Hamroff partner discusses the potential legal implications for companies that are not committed to diversity and inclusion as increasing shareholder pressures and legal complaints mount.

  • Experity Ventures, LLC Closes on $100 Million Structured Credit Facility
    Experity Ventures, LLC (EV) is pleased to announce that it has closed on a structured credit facility for an initial $65 million and up to $100 million to support the growth plan for ProMed Capital. ProMed is a newly acquired portfolio company of Experity.
  • SFNet Adds Chief Value Officer to Team

    The Secured Finance Network has hired Morten Kucey as Chief Value Officer, a newly created position. Prior to joining the SFNet team, Morten served as Senior Managing Director, Head of Corporate Development for SB360 Capital Partners, LLC.

  • AntonioMcKinney Headshot_x150 Interview with Antonio McKinney, Member of SFNet’s Diversity, Equity & Inclusiveness Committee

    Antonio McKinney is a business intelligence analyst with over 10 years of professional sales, workforce management and factoring experience. Antonio is an HBCU alumni, hailing from Langston University with a bachelor’s degree in Business Management. He currently works for TBS Factoring, LLC as the embedded analyst for the accounting division. Antonio resides in Oklahoma where he enjoys spending time with his wife and their 8-month-old daughter.

  • AmeriFactors Provides $60,000,000 In Funding to a Communications Contractor

    CELEBRATION, FL (December 14, 2022) – AmeriFactors Financial Group, LLC, provided $60,000,000 in accounts receivable financing to a communications contractor to assist their business through a heavy growth stage. The client will be building out the infrastructure for a large telecom company. Along with increasing their available capital, they will have the advantage of AmeriFactors accounts receivable management services.

  • Antares Supports Harvest Partners’ Investment in Galway Insurance Holdings With $1.4 Billion in Credit Facilities
    Antares announced today that it served as joint lead arranger and is acting as administrative agent on $1.4 billion in senior secured credit facilities to support the recapitalization of Galway Insurance Holdings (“Galway”), the holding company for EPIC Brokers & Consultants (“EPIC”) and JenCap Holdings (“JenCap”) by Harvest Partners, LP and its affiliates (“Harvest”). Galway’s existing private equity investors, Oak Hill Capital (“Oak Hill”) and The Carlyle Group (“Carlyle”), will reinvest alongside the management team and employee shareholders, who will remain significant shareholders.
  • Integer Reduces Borrowing Costs and Increases Flexibility with New Senior Secured Credit Facilities
    Integer Holdings Corporation (NYSE: ITGR), a leading medical device outsource manufacturer, today announced that as a result of its financial strength and favorable debt markets, the company has successfully raised $1 billion in Senior Secured Credit Facilities (“New Facilities”) to refinance its existing debt (the “Transaction”). The New Facilities consist of a five-year $400 million Revolving Credit Facility, a five-year $250 million Term Loan A and a seven-year $350 million Term Loan B. 

    Wells Fargo Bank, National Association is acting as Administrative Agent, Swingline Lender and Issuing Lender. Wells Fargo Securities, LLC, BofA Securities, Inc., Fifth Third Bank, National Association, Keybanc Capital Markets, Inc., Citigroup Global Markets Inc. and Santander Bank, N.A. acted as Joint Lead Arrangers and Joint Bookrunners.
  • LSQ Provides $7.5MM AR Facility to Marketing Services Firm

    LSQ, a leading provider of technology-driven working capital solutions, announced that the company originated a $7.5 million AR facility, including a $3.1 million payoff to the first position lender, for a resurging marketing services firm.

    Demand for the firm’s services is normalizing following a COVID-related revenue slump in 2020. It will now have sufficient capital to fulfill a growing number of orders and 2021 business development goals via this new, larger facility with LSQ.

  • RichardGumbrecht150x150 Interview with Rich Gumbrecht, CEO of Secured Finance Network, formerly Commercial Finance Association
    RIch Gumbrecht, CEO of the Secured Finance Network, discusses signs of financial stress, recession, tariffs and sources of capital.
  • Goldrich-150 Interview with North Mill Capital's Jeff Goldrich
    TSL Express caught up with Jeff Goldrich, president and CEO of North Mill Capital (NMC), on the lender’s recent acquisitions. North Mill Capital acquired two factoring companies in 2019: Sage Business Credit, a Minneapolis, MN-based factoring company and Salt Lake City, UT-based Summit Financial Resources, in June 2019. Goldrich discusses what the acquisitions mean for North Mill.
  • Monroe Capital Continues to Bolster Marketing Team with Adam Kennedy and Sanjay Yodh Hires
    Monroe Capital LLC today announced it has expanded its marketing and investor relations team with the addition of Sanjay Yodh, serving as Managing Director and Head of Insurance Solutions and Distribution and based in New York, and Adam Kennedy, serving as Director and based in Los Angeles.
  • Gerber Finance Announces CEO Succession, Jennifer Palmer Appointed CEO, Founder Gerald Joseph to Become Chairman of the Board

    Gerber Finance, the leading finance partner for companies experiencing accelerated growth, today announced the completion of their CEO succession strategy, naming longtime President Jennifer Palmer as CEO with Founder Gerald Joseph transitioning to his new role as strategic advisor and Chairman of the Board.

     

  • Assembled Brands Announces a New $5 Million Facility with Algenist
    Assembled Brands is celebrating a new $5 million facility with its partners at Algenist. Founded in 2011, Algenist is a clinical skincare brand delivering anti-aging based on natural, botanical ingredients such as Alguronic Acid from algae. Naturally-sourced and sustainably-produced through biotechnology, the innovative green science respects nature, and is one of the oldest, nutrient-rich greens in the world.
  • LBC Small Cap Supports the Acquisition of Auchinachie

    LBC Small Cap, an affiliate of LBC Credit Partners, provided a senior secured term loan and equity co-investment to support the acquisition of Auchinachie by Astar Heating & Air ("Astar"), a portfolio company of Dubin Clark & Company ("Dubin Clark").

  • Cowen Announces Closing of $300 Million Term Loan Due 2028 and $25 Million Revolving Credit Facility Due 2026
    Cowen Inc. (NASDAQ:COWN) (“Cowen” or the “Company) today announced the closing of the Company’s $300 million first lien term loan credit facility due March 24, 2028 (the “Term Loan”) and a $25 million senior secured revolving credit facility due 2026 (the “Revolving Facility”). Pursuant to the Term Loan, the Company borrowed $300 million of first lien term loans. Pursuant to the Revolving Facility, the lenders have agreed to make available up to $25 million of revolving credit loans and letters of credit to the Company.
  • Hamid Namazie Interview with McGuire Woods’ Hamid Namazie

    Hamid Namazie is managing partner of McGuireWoods’ Los Angeles - Downtown office. He concentrates his practice on representing a wide range of clients, including banks, institutional lenders and commercial finance companies, providing asset-based loans.

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