Salem Five has hired Keith Broyles, an experienced banker, to lead the asset-based lending (ABL) initiative, which is new to the organization.Broyles, who began his banking career in 1990, has been named Senior Vice President in charge of the new Business Credit team at Salem Five. Broyles and his team will provide ABL solutions to businesses, helping those customers manage their cash flow, among other common business needs.“This was the missing piece in our commercial banking program,” said
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March 07, 2025 @ 08:00 AM
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First Citizens Bank's Energy Finance business served as lead agent on a $74 million financing of GridStor’s Hidden Lakes Reliability Project, a 220 MW / 440 MWh battery storage project in Galveston County, Texas.GridStor is a developer and operator of utility-scale, standalone battery storage projects and is owned by funds managed by Goldman Sachs Asset Management. The financing will support the remaining construction of the Hidden Lakes project, which is expected to enter into commercial
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March 07, 2025 @ 07:55 AM
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Sunraycer Renewables, a leading developer, owner and operator of clean energy power sites, closed a $200 million credit facility with funds and accounts managed by HPS Investment Partners ("HPS"). The financing will support the development of Sunraycer's existing 4 GW portfolio of solar and battery projects, the acquisition of new projects and its goal of delivering 1 GW of operating assets per year. The development and construction financing facility will be used to fund both pre-notice to
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March 07, 2025 @ 07:50 AM
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O2 Sponsor Finance, a division of Old Second National Bank provided senior secured credit facilities to support Branford Castle Partners in its acquisition of Hoffman Engineering ("Hoffman").Headquartered in Stamford, Connecticut, Hoffman is a global leader in the development and manufacturing of night vision test equipment, night vision imaging lighting systems and commercial aviation LED specialty lighting products. Since its inception in 1955, the Company has developed a strong brand
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March 07, 2025 @ 07:30 AM
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M&T Bank appointed Carmen Magistro as Northern Pennsylvania Regional President. Previously serving as M&T's Commercial Senior Group Manager for Northern Pennsylvania Commercial & Industrial, Magistro has assumed additional responsibilities to help strengthen M&T's presence in the community and enhance service to customers throughout the region.In this expanded role, Magistro will partner closely with the Community Bank leadership team for Northern Pennsylvania while continuing to oversee M&T's
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March 07, 2025 @ 07:09 AM
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Womble Bond Dickinson announced that Alidad Vakili has joined the firm’s Corporate & Securities Practice Group as a partner in San Francisco. Vakili brings extensive experience in advising entrepreneurs, founders, emerging growth and established companies, and investors on a range of corporate and transactional matters, including entity formation, governance, commercial transactions, venture capital, mergers and acquisitions, and debt and equity financing.With a strong background in technology
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March 07, 2025 @ 07:00 AM
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The private markets fundraising climate is expected to improve dramatically through 2025. Private debt and growth equity are emerging as the front running asset classes as investors seek greater diversification across the sector, according to a new study by CSC, the leading provider of global business administration and compliance solutions.CSC surveyed 300 general partners (GPs) and 200 limited partners (LPs) across North America, Europe (inc., the U.K.), and Asia Pacific to gain a clearer
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March 06, 2025 @ 08:17 AM
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White Oak Commercial Finance (“WOCF”), an affiliate of White Oak Global Advisors (“White Oak”), provided a $90 million senior secured revolving ABL facility to a leading steel production company and service center. The company and its subsidiaries provide an extensive supply of flat-rolled coil products to the automotive, construction, oil & gas, and agriculture industries.“Steel and metal production is the backbone of a healthy industrial sector. We’re excited to partner with this manufacturer
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March 06, 2025 @ 08:15 AM
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JOANN, the fabric and crafts retailer, has commenced store closing sales at all 790 locations nationwide. The sale offers customers significant discounts on a wide assortment of crafting, sewing, and home décor products while supplies last. Initial discounts start at up to 40% off store merchandise.The store closing process is being managed by GA Group, a leading asset disposition, valuation, appraisal, and real estate services firm with extensive expertise in large-scale retail liquidations
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March 06, 2025 @ 08:12 AM
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CalciMedica, a clinical-stage biopharmaceutical company focused on developing novel calcium release-activated calcium (CRAC) channel inhibition therapies for acute and chronic inflammatory and immunologic illnesses, entered into a credit facility with Avenue Venture Opportunities Fund II, L.P., a fund of Avenue Capital Group, providing up to $32.5 million. Proceeds from the facility are intended to support the continued development of the Company's product pipeline.The credit agreement, which
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March 06, 2025 @ 08:03 AM
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ITE Management, L.P. (“ITE”), a leading alternative asset manager focused on transportation infrastructure, announced a strategic minority investment from funds managed by Blackstone Credit & Insurance (“BXCI”). The investment and strategic partnership enable ITE and BXCI to collaborate and enhance ITE’s leadership position amidst a growing opportunity set within the transportation infrastructure sector.BXCI and ITE also launched a strategic forward flow partnership, with BXCI targeting to
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March 06, 2025 @ 08:00 AM
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PlainsCapital Bank announced that Jerrod Dawson, CFA® has joined the Private Bank at PlainsCapital as Senior Vice President, Manager of Investment Strategies and Portfolio Management. “We are pleased to welcome Jerrod to the bank,” said Andrew Cunningham, Senior Vice President and Chief Investment Officer of The Private Bank. “His depth of experience in investment strategy and portfolio management will be a valuable asset to our team and our clients.” Dawson brings 29 years of experience in
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March 06, 2025 @ 07:53 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 investment in Signiant, Inc. by Battery Ventures.Founded in 2000 and based in Lexington, MA, Signiant is a platform that allows large media files, from movies and TV shows to sports and news content, to move through the media supply chain quickly and securely, regardless of where the files are stored. Signiant’s flagship products are used by some of the world’s largest
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March 06, 2025 @ 07:48 AM
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Perkins Coie announced that Elliott Smith and Sarah Ross have joined the firm’s Corporate & Securities practice as a partner and counsel, respectively, in the New York office. Their additions further strengthen the firm’s public company and capital markets presence and capabilities in the world’s leading financial market. Elliott and Sarah bring significant experience advising on complex corporate and securities matters for public companies, private companies seeking to go public, and
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March 06, 2025 @ 07:00 AM
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Nikola Corporation , a global leader in zero-emissions transportation and energy supply and infrastructure solutions, via the HYLAbrand, announced that the Company and certain of its subsidiaries have filed voluntary petitions under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware. Nikola has also filed a motion seeking authorization to pursue an auction and sale process under Section 363 of the U.S. Bankruptcy Code.Nikola has filed a number of
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March 06, 2025 @ 06:00 AM
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