Blackstone and Santander Corporate & Investment Banking announced an agreement under which funds managed by Blackstone Credit & Insurance (“BXCI”) will acquire interests in a $1 billion portfolio of high-quality infrastructure loans from Santander. The portfolio comprises loans that finance assets located largely in Western Europe and the US across the digital infrastructure, utility scale renewable, energy efficiency and transportation sectors.Robert Horn, Global Head of Infrastructure & Asset
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November 27, 2024 @ 08:15 AM
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Amerisource Business Capital announced the appointment of Grant Flamang as Regional Market Manager in the Midwest. With over a decade of experience in the finance industry, Grant brings a wealth of expertise in business development. Based in Springfield, Missouri, he has a proven track record of helping small and middle-market businesses achieve growth across the Midwest and Intermountain West regions. "We are thrilled to welcome Grant to the Amerisource team," said Jeff Dunbar, Regional Market
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November 27, 2024 @ 08:13 AM
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MONTICELLOAM (“MonticelloAM”), a specialized multifamily and seniors housing bridge lending platform, closed $18,000,000 in bridge financing for a seniors housing community in Wisconsin. The financing was originated by Karina Davydov, Managing Director at MonticelloAM. “We are thankful for the opportunity to build on a pre-existing relationship with the client and strategically tailor a bridge financing solution that helps them achieve their goals. MonticelloAM remains committed to creating long
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November 27, 2024 @ 08:10 AM
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Capstone Partners released its 2024 Middle Market Business Owners Survey Report, with insights from privately-owned companies across the U.S. This report combines Capstone's in-depth middle market knowledge with proprietary data obtained from 404 participating owners of privately-owned, middle market companies. Conducted between July 31, 2024, and August 26, 2024, the survey captures sentiment at a pivotal moment in the U.S., identifying CEOs' decision making processes, growth, financial, and
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November 27, 2024 @ 08:03 AM
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A Michigan based machine tool builder needed a new lender. The Bank of Ann Arbor asset-based lending team met with the management team at the plant in Michigan, heard their business plan and future projections and provided a $5.5MM Asset Based Lending line of credit and a $2.1MM Commercial Mortgage that would meet their future needs. The collateral included A/R, Inventory, Equipment and Real estate.The firm chose The Bank of Ann Arbor’s Asset Based Lending group as it provided their answer both
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November 27, 2024 @ 08:00 AM
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Lifecore Biomedical, a fully integrated contract development and manufacturing organization (“CDMO”), entered in an agreement with BMO, a leading provider of global investment and corporate banking services and one of North America’s largest banks, which amends and extends the terms of Lifecore’s existing asset-based lending (“ABL”) revolving credit facility entered into between Lifecore and BMO in December 2020. The amendment extends the term of the facility by three years to November 2027, as
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November 27, 2024 @ 07:45 AM
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TerraNova Capital Equities announced that its Structure Finance Group acted as sole advisor on three recent transactions: TerraNova Structured Finance Group acted as the sole advisor to Danimer Scientific on a $20 Million revolving credit facility.TerraNova is pleased to announce its role as the exclusive advisor to Danimer Scientific in securing a strategic ABL agreement with Mountain Ridge Capital. This $20 million facility, collateralized by the Company’s accounts receivable and inventory
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November 27, 2024 @ 07:13 AM
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The Hedaya Capital Group provided a $5 million factoring/inventory financing facility to a New York-based wholesale manufacturer of licensed electronic and novelty products in a hypergrowth phase. Though the company's backbone is electronics—such as headphones, speakers, and tech essentials—it has diversified into many different business lines, including personal care and beauty appliances. Adding to the Company’s hypergrowth is its brand portfolio of over 40 different licensed brands that are
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November 27, 2024 @ 07:00 AM
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Revolving credit facilities continue to show strong bankruptcy recoveries and offer the highest likelihood of recovery among the various types of rated first-lien debt, according to a new report from Fitch Ratings.Fitch analyzed revolver utilization rates and recovery rates for 411 facilities in our U.S. corporate enterprise valuation and creditor recovery bankruptcy case study dataset, comprised of mainly large broadly syndicated loan issuers.“Asset-backed loans (ABLs) demonstrate some of the
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November 26, 2024 @ 08:10 AM
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MoneyLion, a digital ecosystem for consumer finance, successfully closed a $70 million loan facility with Silicon Valley Bank, a division of First-Citizens Bank & Trust Company (“SVB”), to refinance MoneyLion’s existing senior debt and lower its cost of capital. Although MoneyLion’s existing senior debt was not set to mature until 2026, the Company’s strong financial standing created an opportunity to secure refinancing on substantially improved terms through a premier banking partner.Summary of
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November 26, 2024 @ 08:09 AM
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Following the Federal Reserve’s interest rate cuts in September, new data reveals a $10.5 billion, or 5.1% increase, in new business volume for equipment leases and loans from September to October, its largest jump since August 2023, according to the Equipment Leasing and Finance Association CapEx Finance Index: October 2024 report.Building on last month’s impressive growth, the surge hints at a strong finish for equipment investment this quarter. In the face of increasing prices and borrowing
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November 26, 2024 @ 08:07 AM
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Webster Bank announced that Adam Hoffman has joined Webster as executive managing director, Head of Treasury Management. Hoffman is responsible for leading all facets of Treasury Management and Commercial Card, including Sales, Client Delivery and Product Management.Most recently, Hoffman served as executive vice president and Head of Treasury Solutions for BankUnited, overseeing Treasury Management sales, product, implementations, service and operations, as well as bank wide responsibility for
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November 26, 2024 @ 08:06 AM
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Monroe Capital acted as sole lead arranger and administrative agent on the funding of a senior credit facility to support the acquisition of Mission Autism Clinics (“MAC”) by Helping Hands Family, an existing portfolio company of Zenyth Partners.Founded in 2019 and headquartered in King of Prussia, PA, Helping Hands Family is a provider of Applied Behavior Analysis (“ABA”) with clinics in CT, MD, NJ, NY, and PA. Founded in Hazleton, PA, MAC is an ABA therapy provider to children with autism in
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November 26, 2024 @ 08:00 AM
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nFusion Capital provided a $2.5 million ABL facility for Kitu Life, also known as Super Coffee.Raising capital post-COVID was difficult, which hampered the Company’s growth and limited the capital available to invest in brand development and marketing. The Company needed funding to support continued growth goals and investment, especially in best-in-class branded content to advertise new and improved products across the entire social media universe. They searched for a lender who understood the
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November 26, 2024 @ 07:52 AM
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U.S. Bank announced Kristy Carstensen as the new leader of its Global Treasury Management business. In this position, Carstensen heads the unit that provides comprehensive treasury management and payment solutions to the bank’s business, government and institutional clients. In addition to Global Treasury Management, Carstensen will also oversee the bank’s prepaid card organization.“Kristy’s leadership has been instrumental in our ability to continually improve the payment experience for our
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November 26, 2024 @ 07:40 AM
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