TD Bank Group made the following announcements. Raymond Chun to become Group President and CEO on February 1, 2025; Board adopts new term limits; five directors to retire at 2025 Annual Meeting of Shareholders; Four new directors to stand for election at 2025 Annual Meeting of Shareholders; New chairs appointed for four of five Board committees. CEO Transition Raymond Chun, currently Chief Operating Officer, will be appointed Group President and Chief Executive Officer (CEO) on February 1, 2025
Read Story
January 21, 2025 @ 08:15 AM
|
Huntington Business Credit closed $42,000,000 in new credit facilities with Rush Group Limited dba Emotiv on December 30, 2024. Proceeds of the facility were used to finance capital expenditures and working capital financing.Rush Group Limited dba Emotiv, headquartered in Wayne, Michigan, is a manager of the complete assembly and sequencing of modules for OEMs and Tier 1 auto suppliers.
Read Story
January 21, 2025 @ 08:12 AM
|
Eclipse Business Capital (EBC) financed a $140 million senior secured revolving credit facility to a specialty retailer. The credit facility is secured by accounts receivable and inventory. The transaction facilitates a restructuring with the existing lenders to reduce leverage and provide for future working capital needs. EBC’s demonstrated track record of executing quickly, coupled with its flexible approach, and one-stop solution, provided the borrower with confidence that its business
Read Story
January 21, 2025 @ 08:10 AM
|
Alvarez & Marsal (A&M)appointed Kevin Davidson as a Senior Director within its Healthcare Industry Group. In his new role, Davidson will help advance the Human Capital and Workforce Management Practice’s growth strategy in support of clients across the healthcare ecosystem including hospitals and health systems, payers and private equity-owned healthcare organizations. His joining highlights A&M’s commitment to advising clients on solving workforce issues that continue to challenge healthcare
Read Story
January 21, 2025 @ 07:31 AM
|
Clifford Chance hired Stuart Stahl to join its Global Financial Markets team, further expanding the firm's structured finance offering to meet growing market demand. Stahl, who has a combination of in-house and firm experience, joins from a prominent asset management firm where he acted as lead counsel for transactions, including securitizations, asset acquisitions, secured financings, and related regulatory and compliance matters. His experience spans residential mortgage-backed securities
Read Story
January 21, 2025 @ 07:08 AM
|
Sallyport Commercial Finance announced a new $500,000 factoring facility for a fast-growing staffing company in the Greater Toronto Area (GTA).Referred through a trusted partner, this new client underscores Sallyport’s commitment to supporting businesses in achieving their growth ambitions. The client, operating in the staffing industry, has experienced remarkable growth over the past year and has plans to expand further across the GTA and Ontario. To facilitate this growth, Sallyport provided
Read Story
January 21, 2025 @ 07:01 AM
|
Womble Bond Dickinson announced that Matthew S. Morgan has joined the firm’s Finance, Bankruptcy, and Restructuring practice in Charleston. A seasoned financial services attorney, he has over two decades of experience working in both Am Law 100 firms and leading buy-side and sell-side financial institutions in London.Morgan has extensive experience with sophisticated lending transactions, including subordinated, mezzanine, and more senior financings backed by traditional and non-traditional
Read Story
January 21, 2025 @ 07:00 AM
|
William Blair has added Terence Tan as managing director in the firm’s Healthcare investment banking team. Based in New York, Tan will focus on providing biopharma companies with comprehensive advisory services.“It is my pleasure to welcome Terence to William Blair’s Healthcare investment banking practice and its biopharma group,” said Steve Tole, head of Healthcare investment banking at William Blair. “Our team of committed bankers provides strategic investors and financial sponsors with unique
Read Story
January 21, 2025 @ 07:00 AM
|
Mountain Ridge Capital announced the promotions of Tree Buckingham, Matt Salatti, and Will Tyler. Buckingham will take over as Chief Operating Officer managing operations and IT for MRC and sister factoring company, Alpine Ridge Funding (“Alpine”). Salatti was promoted to Chief Financial Officer, now leading all financial strategy and supervising financial reporting. Tyler’s new role of Managing Director of Underwriting has Tyler overseeing underwriting for both the MRC and Alpine team. With
Read Story
January 17, 2025 @ 08:15 AM
|
Percent, a platform powering the modern private credit marketplace, released their 2025 Private Credit Outlook. This annual report highlights how private credit is one of the most resilient and dynamic asset classes in global finance, nearing $2 trillion in market size. Amidst macroeconomic shifts seen in 2024 – from the Federal Reserve’s cautious rate cuts to a contentious U.S. presidential election and heightened, evolving geopolitical tensions – private credit has demonstrated unparalleled
Read Story
January 17, 2025 @ 08:10 AM
|
An internationally recognized food producer encountered a once-in-a-lifetime opportunity to purchase a competitor's facility. Strategically located, the facility offers potential savings in both distribution and logistical costs while also providing a major boost in production.The deal became available at a competitive price through a business relationship, and the client needed to act fast, within 20 days, to secure the opportunity before it went to market.The company had a lender willing to
Read Story
January 17, 2025 @ 08:09 AM
|
Trinity Capital committed $12.5 million in growth capital to Upward Health, an in-home, multidisciplinary medical group providing 24/7 whole-person care.The company partners with health plans and other risk-bearing entities to address the unique needs of high-risk, high-need patients, delivering care that aims to improve health outcomes and quality of life. Upward Health was ranked number 7 on the 2023 Inc. 5000 list of the fastest-growing private companies in the United States, and number 6 on
Read Story
January 17, 2025 @ 08:08 AM
|
Maturity walls over the next two years will require many non-bank financial institutions (NBFIs) to remain active in issuing new debt in order to manage refinancing risk and retain funding flexibility, according to Fitch Ratings in a new report.Spread tightening in 2024 and Fed interest rate cuts late in the year helped spur NBFIs to tap the debt markets more frequently, a trend Fitch expects will continue and that is particularly noteworthy for business development companies (BDCs), according
Read Story
January 17, 2025 @ 08:08 AM
|
eCapital extended a $35 million factoring facility to a prominent logistics provider. This funding unlocks essential working capital, enabling the client to address financial challenges and strengthen its role in the global supply chain.The logistics company, which specializes in optimizing the container supply chain to facilitate international trade, has faced significant pressures over the past two years. These challenges reflect industry-wide declines in sales and rising operational costs.
Read Story
January 17, 2025 @ 08:04 AM
|
Altriarch Asset Management announced the successful closing of a $12.5 million senior secured revolving facility for RLTYco, Inc. (“RLTY”). The two year loan, which has an option to extend an additional year, will give RLTY the ability to expand its portfolio and enhance its innovative financial offerings for real estate professionals, brokerages and developers.Danielle Brown, General Partner at Altriarch, commented on the partnership stating, “We are thrilled to support RLTY as they continue to
Read Story
January 17, 2025 @ 07:21 AM
|