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ABL Industry Service Providers & Specialty Lenders
Fifth Street Finance said it released its April 2014 newsletter. Highlights include an active first quarter, recent strategic partnerships updates and venture lending portfolio growth.
Siena Lending Group completed a $3 million senior secured revolving credit facility for Carol’s Daughter Holdings. The facility supports working capital and the distribution model’s expansion.
The PrivateBank extended $8 million in credit facilities to Energes Services, a provider of a variety of oilfield construction and maintenance services to exploration and production firms.
Oxford Finance and Square 1 Bank provided a $10 million term loan to Conventus Orthopaedics. Proceeds will be used to support additional regulatory approvals and developments.
AMN Healthcare Services announced it has refinanced its existing credit facilities with a new facility consisting of a $150 million secured term loan a $225 million revolver. SunTrust acted as agent for the lender group.
GE Antares said it is administrative agent on a $66 million credit facility to support the acquisition of Gold Star Foods, a K-12 schools food distributor, by Castle Harlan.
According to GE Capital, IT solution companies face changes to their business model as they adapt to growth in cloud computing.
Signature Bank announced Q1/14 net income reached a record $66 million, up from $50.6 million in Q1/13. The bank said its record performance was primarily due to an increase in interest income, fueled by record deposit growth and strong loan growth.
Business Capital secured an $8.5 million DIP loan for Pacific Steel Casting.
Capital Business Credit provided an $8.8 million ABL facility to Sabin Robbins Converting. The financing assisted the equity sponsor, Theca, in its acquisition of Sabin.
Apr 24, 2014: ABI 32nd Annual Spring Meeting
May 1, 2014: 8th Annual Credit & Bankruptcy Symposium
May 7, 2014: 2014 TMA Senate
May 13, 2014: Cooking Event: The Cooking School at 90 Acres