SLR Credit Solutions closed a Senior Credit Facility comprised of a term loan and revolver for Eclipse RTO, a leading rent-to-own operator specializing in furniture, appliances, and electronics. Eclipse is a portfolio company of CMG Companies. The financing has a first lien on all assets and was supported by the Company’s rent-to-own contractual lease stream. Proceeds from the facility were utilized to refinance existing debt and provide growth capital.“SLR CS understands the complexities of the
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November 05, 2024 @ 08:15 AM
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Truist Financial hired Kerry Jessani as head of mid-corporate banking. Jessani will build and lead a coverage team focused on delivering industry-based expertise and solutions to private and public companies across the U.S.Mid-corporate banking will complement the national investment and corporate banking coverage, research, advisory and capital markets expertise of Truist Securities and bolster Truist's commercial banking business which operates in some of the most attractive growth markets in
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November 05, 2024 @ 08:11 AM
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Chicago Atlantic Admin acted as administrative agent on the funding of a $30 million senior secured credit facility for Deep Roots Holdings (“Deep Roots Harvest”), a vertically integrated operator in Nevada with five open dispensaries, one dispensary planned to open in December 2024 and a standalone cultivation and processing facility.The capital provided by Chicago Atlantic, on behalf of its affiliated investment funds, will support Deep Roots Harvest’s expansion as it takes on additional
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November 05, 2024 @ 08:08 AM
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Marathon Asset Management closed a senior-secured credit facility to finance H.I.G. Capital’s acquisition of SkinCure Oncology Intermediate LLC. SkinCure Oncology’s executive team, led by CEO Kerwin Brandt, will continue to lead the company and remain significant shareholders.SkinCure Oncology is a leading provider of image-guided superficial radiation therapy (IG-SRT), a non-invasive treatment primarily for nonmelanoma skin cancer (NMSC). Unlike conventional surgical approaches, IG-SRT requires
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November 05, 2024 @ 08:06 AM
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Agrovision Corp., a technology driven global superfruit platform, closed senior secured credit facilities in an aggregate amount of $400 million. Proceeds from the financing, which includes an initial $230 million five-year term loan and a $150 million three-year revolving credit line, will be used to repay outstanding borrowings under the Company’s existing $210 million credit facility and short term credit lines. The remainder of the proceeds will be used to support Agrovision’s expansion
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November 05, 2024 @ 08:00 AM
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Willis Lease Finance reported that on October 31, 2024, the Company entered into a new, $1.0 billion, five-year, revolving credit facility (the “Credit Agreement”) among WLFC, certain wholly-owned subsidiaries of WLFC, as guarantors, the lenders party thereto from time to time, and Bank of America, N.A., as administrative agent, collateral agent, swing line lender, and letter of credit issuer. The Credit Agreement replaced the existing $500.0 million revolving credit agreement, dated as of June
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November 05, 2024 @ 08:00 AM
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Asset Based Lending (ABL), a provider of private capital to real estate investors, successfully closed its second unrated securitization, ABL 2024-RTL1, totaling $175 million. This marks the second entry in their securitization program and features an industry-leading ground-up construction focus.The transaction features three classes of notes – A1, A2 and M, each of which were sold to a broad array of institutional investors. The two-year revolving period represents an increase from ABL's
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November 05, 2024 @ 07:00 AM
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CapitalPlus Financial Services extended a $1 million factoring facility to a Florida-based underground utility contractor, empowering the business to take on new projects without waiting for client payments to clear. This tailored financing solution ensures that the contractor can focus on growth and timely payment to its subcontractors.The contractor sought CapitalPlus' support to bridge the gap between project completion and client payments, preventing the need to decline new opportunities.
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November 05, 2024 @ 06:06 AM
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Lafayette Square made a multi-million-dollar investment alongside partners Shift Capital ("Shift") and Voyage Investments ("Voyage") in a project that will facilitate the adaptive renovation of a formerly vacant warehouse for use by the El Centro de Estudiantes Big Picture Philadelphia School ("El Centro").El Centro is operated by Big Picture Philadelphia, a nonprofit that offers real-world learning experiences, and empowers students to pursue their own pathways to success. Opened in 2008, it is
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November 05, 2024 @ 05:14 AM
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Ares Management Corporation announced that funds managed by its Credit Group closed approximately $12.3 billion in U.S. direct lending commitments across 86 transactions during the third quarter of 2024 and approximately $44.5 billion in direct lending commitments across 328 transactions in the 12 months ended September 30, 2024. The $44.5 billion of commitments over the 12-month period represents a new record for the U.S. Direct Lending business. Below is a description of selected transactions
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November 04, 2024 @ 08:15 AM
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Northrim BanCorp announced the acquisition of Sallyport Commercial Finance in an all cash transaction that closed on October 31, 2024 and is valued at approximately $53.9 million. Sallyport Commercial Finance, LLC is a leading provider of factoring, asset based lending and alternative working capital solutions to small and medium sized enterprises in the United States and Canada. The transaction is expected to provide earnings accretion of approximately 15% to Northrim’s 2025 operating
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November 04, 2024 @ 08:10 AM
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Robert Meyers, President of Republic Business Credit, was recently elected as President of the Secured Finance Network (SFNet), the essential resource for all organizations and professionals that deliver and enable secured finance to businesses.Meyers got involved with SFNet in 2013 by planning an educational event for the SFNet Midwest Chapter. Over the next decade, he took on numerous volunteer roles, including chapter treasurer, vice president and president in 2016. Additionally, Meyers was
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November 04, 2024 @ 08:07 AM
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TGI Fridays, the owner and operator of 39 domestic restaurants in the TGI Friday's casual dining chain, filed voluntary petitions under Chapter 11 of the U.S. Bankruptcy Code in the Northern District of Texas. The Company expects to use the time and legal protections made available through the Chapter 11 restructuring process to allow the Company to explore strategic alternatives in order to ensure the long-term viability of the brand.Continuity in Franchise OperationsThe TGI Fridays brand and
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November 04, 2024 @ 08:06 AM
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CIBC Innovation Banking has appointed Paul McKinlay and Patrick Martin as Executive Managing Directors and Co-Heads, effective November 1, 2024, as Mark Usher retires from his position as President and Executive Managing Director.CIBC Innovation Banking has become an established lender in the innovation economy in North America. Mark joined CIBC with the acquisition of Wellington Financial in 2018 and has served as a key member of the leadership team, with a pivotal role in building the
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November 04, 2024 @ 08:05 AM
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Ameris Bank promoted Brian Parks to the newly created role of head of Wholesale Banking, reporting to Ameris Bank President Lawton Bassett.Parks will be based in Atlanta and oversee Treasury Management, Industry Specialty Banking, Commercial Real Estate & Capital Markets and Corporate Banking, as well as the metro Atlanta market.Parks joined Ameris in 2020 as regional president covering the majority of the company’s Florida markets spanning from Jacksonville to Orlando to Tampa. He expanded
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November 04, 2024 @ 07:55 AM
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