TD Bank Group announced that, following several years of active cooperation and engagement with authorities and regulators, it has reached a resolution of previously disclosed investigations related to its U.S. Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) compliance programs.The Bank and certain of its U.S. subsidiaries have consented to orders with the Office of the Comptroller of the Currency (OCC), the Federal Reserve Board, and the Financial Crimes Enforcement Network (FinCEN) and
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October 11, 2024 @ 08:15 AM
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TAB Bank extended a $10 million revolving Asset-Based Loan (ABL) to Mobility Trust Group, a company specializing in financing mission-critical assistive technology products, including wheelchair-accessible vehicles and home accessibility equipment for people living with disabilities. The loan enables Mobility Trust to secure the liquidity needed for growth while continuing to focus on the needs of a vital and underserved community. In addition to expanding Mobility Trust’s capacity to finance
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October 11, 2024 @ 08:10 AM
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Trinity Capital announced the commitment of $40 million in growth capital to Beam Benefits ("Beam"), a digitally native employee benefits company.Founded in 2012, Beam began by modernizing dental benefits. Since then, Beam has evolved into a one-stop shop for ancillary benefits, offering dental, vision, life, disability, and supplemental health coverage. Beam delivers employee benefits plans on one simple platform."Beam Benefits has changed the way small businesses access and offer valuable
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October 11, 2024 @ 08:05 AM
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FirstLight Fiber, the northeast U.S.’s largest independent fiber bandwidth infrastructure provider with 25,000 fiber network route miles and more than 125,000 addressable locations, successfully raised $120 million in new strategic debt financing. This transaction is part of a global refinancing effort this year at FirstLight and follows the five-year senior secured infrastructure debt financing package the company announced in April 2024. The financing was led by Sixth Street, a leading global
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October 11, 2024 @ 08:00 AM
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Platinum Equity led a new and upsized Second-Lien Term Loan for Railway Equipment Leasing and Maintenance Inc. ("RELAM") to refinance the company's existing indebtedness and support future growth of the business.RELAM is a provider of specialty rental equipment for recurring, regulatory-driven maintenance-of-way ("MOW") work on railroads, serving the industry's largest operators and contracted service providers."RELAM has been a great partner and the company continues to perform," said Platinum
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October 11, 2024 @ 07:54 AM
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Marathon Asset Management closed a senior-secured credit facility to refinance Owl Cyber Defense (the “Company”), a portfolio company of DC Capital Partners.Owl Cyber Defense is a leading provider of Cross Domain Solutions (CDS) and Data Diode technology, primarily to U.S. Department of Defense and Intelligence Community customers. Its proprietary, patent-protected hardware, protocols, and software applications create secure barriers between sending and receiving domains, effectively isolating
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October 11, 2024 @ 07:51 AM
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Peapack-Gladstone Financial Corporation and Peapack-Gladstone Bank announced that Michael Anthony Guarino, Esq. has joined the Bank as a Senior Vice President, Attorney.Working out of the Bank’s Headquarters in Bedminster, New Jersey and its new location at 300 Park Avenue, New York City, Guarino is primarily responsible for responding to all legal issues arising out of the Company’s New York office, in addition to working with the Bank’s General Counsel in providing support and advice to the
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October 11, 2024 @ 07:38 AM
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Alvarez & Marsal appointed Nate Brewer as a Managing Director with the firm’s Public Sector Servicesgroup and Federal practice. Brewer’s joining expands A&M’s federal sector capabilities, further empowers the firm to help government clients address their toughest challenges and reaffirms its commitment to best meet the market’s underserved needs.Drawing on more than a quarter century of consulting and leadership experience in the public and private sectors, Brewer’s expertise aligns with the
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October 11, 2024 @ 07:00 AM
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ATC Managers successfully closed a $78 million bridge loan to facilitate the acquisition of a multifamily portfolio. This 12-month, fixed-rate bridge loan will enable the purchase of a portfolio consisting of 27 properties across North Carolina, Florida, and Arizona. The assets include fifteen 2–4 unit buildings and twelve six-unit properties, amounting to a total of 117 fully leased units at the time of purchase. The acquisition’s total price is $78 million, with a capitalization rate of
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October 11, 2024 @ 06:00 AM
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Encina Lender Finance (“ELF”) announced several senior executive promotions and key new hires to support the company’s next stage of growth.The promotions are as follows:
Geoff Beard – Chief Executive Officer & Chief Investment Officer: Geoff joined ELF in June 2024 as Co-CEO to lead the firm’s Consumer/SMB Vertical. In his new expanded role as CEO and CIO, Mr. Beard will have responsibility for ELF’s investment, credit risk, asset management, operations and finance functions. He spent the
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October 10, 2024 @ 08:15 AM
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Global consulting firm J.S. Held, proudly celebrating 50 transformative years, acquired Stapleton Group and announces the creation of the Strategic Advisory practice under the leadership of Michael Jacoby, CTP. The Stapleton Group acquisition further strengthens J.S. Held’s restructuring capabilities, spanning bankruptcy, receiverships, turnarounds, ABCs, and other financial advisory services. Additionally, the acquisition adds specialized expertise in the real estate and agribusiness industries
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October 10, 2024 @ 08:12 AM
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The Wall Street Journal reported that TD Bank is expected to pay roughly $3 billion in penalties and accept limits on its growth in the U.S. as part of a settlement with regulators and prosecutors over charges it failed to properly monitor money laundering by drug cartels.Read the full exclusive Wall Street Journal report.
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October 10, 2024 @ 08:10 AM
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MONTICELLOAM, LLC (“MonticelloAM”), a specialized multifamily and seniors housing bridge lending platform, and its affiliates announced the closing of $59,250,000 in bridge and working capital financing for a portfolio of skilled nursing facilities in Illinois.Karina Davydov, a Managing Director at MonticelloAM, originated the loan which carries a two-year term with two six-month extensions.“We are thrilled to have provided a total financing solution as we build a relationship with a growing
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October 10, 2024 @ 08:05 AM
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Alvarez & Marsal (A&M) has expanded its Disputes and Investigations (DI) group with the launch of the National Security, Trade and Technology (NSTT) practice, led by newly appointed Managing Directors Randall Cook and Vincent Mekles in New York, and Senior Director Rachel Woloszynski in San Francisco. The new NSTT practice will provide an integrated service for clients to navigate national security and industrial policy-related regulatory and operational risks to investment, trade and technology
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October 10, 2024 @ 08:00 AM
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Aequum Capital provided a $15 million revolving line of credit to a Denver-based distributor of pet products. This strategic credit facility enables the company to leverage its accounts receivables and inventory, allowing it to bring key supplier payables current and place new inventory orders.While banks and other lenders hesitated to extend financing due to challenges faced by the company during its transition away from a third-party logistics (3PL) provider, Aequum recognized the one-time
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October 10, 2024 @ 07:57 AM
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