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  • Green and Sustainable Finance

    As more and more companies look at integrating sustainability into their business processes and strategy, there is still much room for growth in the green and sustainable finance market. The Covid-19 crisis is only expected to increase interest in this area.

  • Danielle DiMartino Booth Interview with SFNet Convention Speaker Danielle DiMartino Booth, CEO & Chief Strategist, Quill Intelligence LLC

    A global thought leader on monetary policy, economics and finance, Danielle DiMartino Booth founded Quill Intelligence LLC and is their CEO & Chief Strategist. This is a research and analytics firm which publishes The Daily Feather and the Weekly Quill.

    To build Quill Intelligence, she brought together a core team of investing veterans to analyze trends and provide critical analysis on what is driving the markets – both in the United States and globally.

    DiMartino Booth set out to launch a #ResearchRevolution, redefining how markets intelligence is conceived and delivered with the goal of not only guiding portfolio managers, but promoting financial literacy.

    Since its inception, commentary and data from The Daily Feather have appeared in financial media such as Bloomberg, CNBC, Fox Business, Institutional Investor, Yahoo Finance, The Wall Street Journal, MarketWatch, Seeking Alpha, TD Ameritrade, TheStreet.com, and more.

    She will be speaking during SFNet’s Live Online Annual Convention, November 17-19, 2020.

  • Citizens Provides $325 Million Senior Credit Facility to Nice-Pak

    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.

  • BrianResutek_Headshot_150x150 Mitigating Borrowers’ Cybersecurity Risk
    Financial and collateral review? Check. Appropriate lender agreements, carveouts and lien perfection? Check. Review of borrower’s cybersecurity policies and procedures? Can you repeat that? When it comes to lender due diligence and documentation, organizations are well versed with modeling, credit procedures and deal structures; however, there is a continually growing blind spot that lenders cannot afford to ignore: Cybersecurity. 
  • Santander Bank Leads Upsized $75 Million Deal with Wind Turbine & Energy Cables Corporation
    Santander Bank today announced that its Commercial Banking division closed a $75 million asset-based revolving credit facility on behalf of Wind Turbine & Energy Cables Corporation (WTEC). Santander acted as administrative agent, sole lead arranger and sole bookrunner on the credit facility. WTEC is a diversified, leading manufacturer of a wide range of wire, cable and steel products and services for use in the energy sector. 
  • Diaz-Ortiz Lizzy Spotlight on SFNet's Diversity, Equity & Inclusiveness Committee

    Lizzy (pronounced LEE-see) Diaz-Ortiz is a Chicago-based attorney with over 15 years of experience leading culture change for organizations. Most recently, her efforts have focused on driving diversity and inclusion programs in which she helps organizations create a culture of belonging to drive better business results.

    She grew up as a military brat living and working all over the world and spent her formative years in Germany, quite different than the rest of her extended Puerto Rican family. Her diverse experiences as an Army dependent laid the groundwork for a three-year professional stint in Mexico City as an adult. More importantly, it provided the foundation for her desire to work in the diversity, equity, and inclusion realm and advocate for equitable outcomes.

  • Beriau-Steve SFNet Q1 ABL Index Analysis
    The SFNet Q1 2021 Asset-Based Lending Index reflects ongoing confidence from lenders, but the larger story continues to be told by low, but slightly improving, utilization.  The US economy rebound expanded significantly during the quarter with the 6.4% GDP expansion marking the second-fastest pace for growth since the second quarter of 2003 and was exceeded only by the reopening-fueled burst of Q3 in 2020. This growth had a clear impact on portfolio health with non-accruals, special mention, and write offs continuing at low levels for both banks and non-banks.
  • CIT Northbridge Credit Arranges $75 Million Credit Facility for MVP Staffing Group
    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 $75 million senior secured credit facility for MVP Staffing.
  • Siena Lending Group LLC Closes a $3 Million Credit Facility for Datamation Systems, Inc.
    Siena Lending Group LLC (“Siena”) announces the completion of a $3.0 million asset-based revolving credit facility for Datamation Systems, Inc. (“DSI”). The facility will be used to recapitalize the company and finance SNK Capital LLC and its affiliate, Wessex Capital Partners LLC’s acquisition of a controlling interest in DSI and to provide additional working capital to support the company’s growth. 
  • Commercial Finance M&A in a Pandemic: What a Difference a Year Makes

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    Hovde Group executives, Tim Stute and T.J. Humes, pictured above, provide an overview of the effects of the pandemic on M&A market conditions.

  • Audax Private Debt Provides Financing to Support Backstage’s Acquisitions of StarNow and The Mandy Network
    Audax Private Debt announced that, as Administrative Agent and Lead Arranger, it provided a senior secured credit facility to support add-on acquisitions for Backstage (the “Company”), a portfolio company of TA Associates and online career platform for creative talent. Backstage acquired The Mandy Network, a UK-based talent platform for cast, crew, production services and creative professionals, and StarNow, a New Zealand-based talent platform for actors, models, influencers, and musicians.
  • CIT Northbridge Credit Serves as Sole Lender on $20 Million Credit Facility for Marquis Construction

    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.

     

  • BrianResutek_Headshot_150x150 The Pandemic’s Mental Health Toll on Employees
    COVID-19 has placed an extreme emphasis on physical well-being, but the pandemic has also caused a mental health crisis. How can managers assist their team members during this unprecedented time?
  • Fifth Third Business Capital Provides $9.4 Million for Amglo Kemlite
    Fifth Third Business Capital, a division of Fifth Third Bank, announced it acted as sole lender and administrative agent on the funding of a new $9,417,500 senior credit facility to Bensenville, Illinois-based Amglo Kemlite Laboratories, Inc. Fifth Third’s credit facility was used to support the acquisition of Amglo Kemlite by NewCastle Partners, LLC, and to provide working capital to support future growth.
  • SFNet WISF Career Corner
    This feature provides advice from WISF members to young professionals on a specific topic. We need your input. If you have a question you would like to see answered in this column, please submit to Michele Ocejo at mocejo@sfnet.com.
  • ArleneBonnet_150 What Happened to the Back Room? A Discussion on Operations Management and Career Paths in Secured Finance Operations

    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. 

  • Knowledge at Wharton Podcast: Lessons from the Silicon Valley Bank Collapse
    Wharton finance professor Itamar Drechsler discusses what led to the collapse of SVB and the questions it raises for banks, depositors, and regulators going forward.
  • MidFirst Business Credit Announces the Addition of new Senior Vice President, Business Development Officer

    MidFirst Business Credit, Inc., is pleased to announce the addition of William “Bill” Bogatay as senior vice president, business development officer. Based out of Dallas, Texas, Bill will assist with originating senior secured debt facilities for companies throughout the Southwest, including, Texas, Oklahoma, Louisiana, Arkansas and Kansas.

  • Ares Management Corporation Closes $3.7 Billion Pathfinder Alternative Credit Fund
    Ares Management Corporation (“Ares”) (NYSE: ARES), a leading global alternative investment manager, announced today the final closing of its Ares Pathfinder Fund, L.P. (together with its parallel vehicles, “Pathfinder” or the “Fund”). With $3.7 billion in total commitments closed, the Fund was significantly oversubscribed at its hard cap and exceeded its original target of $2.0 billion.
  • Helios Technologies Upsizes Credit Facilities to $900M
    Helios’s senior secured credit agreement was provided by a syndicate led by PNC Bank. The five-year agreement amends the Company’s previous credit agreement and consists of a $400 million revolving credit facility, a $200 million term loan and, subject to new or existing lenders agreeing to participate in the increase and other customary conditions, a $300 million accordion feature. These credit facilities provide Helios with a significant increase in its borrowing capacity with an improved structure and attractive interest rate options.

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