Articles

FTC Commercial Corporation was launched in 2002 with a strong focus on small and medium-size enterprise. Co-founder Ken Wengrod tapped into his experience, having worked in factoring and retail to create a company that understands the entire trade cycle of manufacturing and importing.

Bobbi Acord Noland is a partner at Parker Hudson Rainer & Dobbs LLP in Atlanta, Georgia. As head of the Commercial Finance practice, Bobbi guides global banks, regional banks and finance companies through domestic and cross-border transactions ranging from $5 million to more than $1 billion. She has handled practically every aspect of commercial lending, from single-lender deals to syndicated facilities involving multiple lenders, borrowers, creditors and multi-tiered debt tranches. In addition, Bobbi frequently advises her clients on workouts and restructurings.

The following interview is a transcript from SFNet YoPro Committee member Matt Gillman, interviewing Andrew Bertolina of Finvoice in late 2019.  We hope you enjoy getting to know the industry’s young professionals. 

The bank syndicate supporting the credit facility is comprised of ten participants acting in various capacities, with JPMorgan Chase Bank, N.A. as Administrative Agent, Bank of America, N.A. and Citizens Bank, N.A. as Co-Syndication Agents, Keybank National Association, TD Bank, N.A., BMO Harris Bank, N.A. and Wells Fargo Bank, National Association as Co-Documentation Agents, and J.P. Morgan Chase Bank, N.A., Bank of America, N.A. and Citizens Bank, N.A. as Joint Lead Arrangers and Joint Book Runners.

CIT Group Inc. (NYSE: CIT) today announced that CIT Northbridge Credit, through its investment advisor CIT Asset Management LLC, served as sole lead arranger on a $20 million senior secured credit facility for Marquis Construction Services LLC.

Headquartered in Clute, Texas, Marquis Construction Services is a multi-disciplined, soft-craft provider of industrial and construction services, including scaffolding, insulation, sandblasting and painting, environmental abatement, fireproofing and industrial siding.

What of back rooms?

One important thing that we have learned over the recent past, through our observations of societal upheaval and current events, is that words matter.  Reflecting on the often-misleading references that are used in our lives, and industry, is an opportunity to open our minds, deepen our sensitivities, and expand our learning opportunities to what exists in our current collective reality.

I've often heard the term, back office, used by some ABL and/or other leaders within bank organizations.  Users of this term surely do not intend to be offensive, however, it is an outdated reference that has no place in the more complex secured lending operations of today. 

Citizens announced today that it has provided a new $325 million senior credit facility to Orangeburg, NY-based Nice-Pak, the leading global producer of wet wipes. Citizens is the Lead Left Arranger.

Founded in 1957, the family-run company pioneered wet wipes with the founder’s invention of the first disposable wet napkin. The company’s Wet-Nap® became a foodservice staple, first at Kentucky Fried Chicken and later at establishments across the country.

Crystal Financial LLC announced the closing of a $60,000,000 Senior Credit Facility for True Religion Apparel, Inc. (“True Religion” or “the Company”).  Founded in 2002 and best known for its signature denim, the Company is a retailer and wholesaler of high-quality apparel and accessories for men, women and children.  True Religion’s products are available through www.truereligion.com, in its over 100 retail locations, and at select department stores and specialty retailers worldwide. 

J.P. Morgan, Bank of Montreal and Goldman Sachs acted as Joint Bookrunners and Joint Lead Arrangers on the Facility. J.P. Morgan is the Administrative Agent on the Facility with Bank of Montreal and Goldman Sachs as Co-Syndication Agents. Additional details on the credit agreement may be found in the Form 8-K to be filed with the Securities and Exchange Commission.

New York State Senator James Sanders, Jr. (D-Queens, New York) has introduced a bill (S 6688) in the New York State Senate, which is presently pending before the Senate Committee on Rules.  The bill would require the licensing by the Superintendent of Banking of the New York State Banking Department (“Superintendent”) of persons or entities engaged in the business of making or soliciting commercial financing products to businesses located in New York State.

Republic Business Credit works with the Azadian Group and Change Capital to provide flexible growth capital during the coronavirus pandemic. 

On March 9-11, we will bring ABCC to you live online, with the great content and opportunities for networking that you have come to expect from the conference. The Conference will be accessible through our acclaimed SFNet Connect Platform, offering hours of dedicated and facilitated meeting time each day. This year, we will be offering more insightful sessions than ever before.

“While we are all disappointed that we won’t be able to get together in person for this year’s event, the move to a virtual format has opened up many new possibilities for the actual content,” said Barry Bobrow, managing director, Wells Fargo Securities, LLC and ABCC Conference Chair. “ABCC has always been known for having rich and important content for attendees.  Without the requirement for our presenters to be in attendance in Las Vegas we have been able to significantly broaden and strengthen our content for 2021, with significantly more segments than we have been able to include in prior ABCC events. 

Five firms have contributed to the SFFound since its inception: Goldberg Kohn, Hahn & Hessen, Otterbourg, Skadden, and Winston & Strawn.  We would like to express our gratitude for their support. For information on becoming a supporter of SFFound, please click here.