October 19, 2018

TMA Global Elects Hampton as 2019 President

TMA Global has elected Jeffrey C. Hampton, Esq., partner at the law firm Saul Ewing Arnstein & Lehr as 2019 TMA Global President. Hampton’s term begins January 1. Kevin A. Krakora will transition to chair, and Milly Chow to immediate-past chair.

MUFG Acquires Intrepid Investment Bankers Middle Market Platform

MUFG Union Bank signed a definitive agreement to acquire Intrepid Investment Bankers, a leading Los Angeles-based regional middle market investment banking firm.

Crestmark Secures More Than $30.1MM Financings in H2/October

Crestmark secured a total of $13,585,000 in ABL financial solutions for eight new clients; Crestmark Equipment Finance provided $13,412,118 in seven new lease transactions; and Crestmark Vendor Finance provided $3,151,862 in 51 new lease transactions in the second half of October.

Nine West Amends Restructuring Plan, Lawsuit Pending

Nine West Holdings and certain of its affiliates filed an amended Chapter 11 plan of reorganization with the U.S. Bankruptcy Court for the Southern District of New York. The plan is accompanied by an amended and restated restructuring support agreement.

BofA Agents Expansion of Curtiss-Wright $500 Million Facility

Curtiss-Wright amended credit agreement with a group of seven banks extending the maturity date of its $500 million credit facility through October 2023 and expanding the accordion feature by $100 million to $200 million. Bank of America served as administrative agent.

LBC Supports Integrated Oncology Network Recap

LBC Credit Partners provided senior secured credit facilities to support Silver Oak Services Partners,) recapitalization of Integrated Oncology Network.

Wells Fargo Agents $325MM Revolver for Quanex Building Products

Quanex Building Products has entered into a new senior secured amended and restated credit facility due 2023, comprising a $325 million revolver.

Barclays Agents Enviva Partners Facility Upsize to $350MM

Enviva Partners amended its senior secured credit facility, extending the maturity to October 2023 from April 2020 and increasing the revolving credit facility to $350 million from $100 million.

Peapack-Gladstone Promotes Sedicino to SVP/Director, Retail Banking

Peapack-Gladstone Bank promoted Dominic J. Sedicino to senior vice president, director of Retail Banking at Peapack-Gladstone Bank.

CR3 Partners Expands Chicago Team

Tim Shanahan has joined CR3 Partners’ team in its Chicago office.

Deutsche Bank White Paper Calls for Global Regulatory Alignment

A white paper released by Deutsche Bank finds that further global regulatory alignment is needed for technology to be transformational, with any regulatory approach accepting the “new realities” created by emerging solutions.

Tree Line, Merchant Bank Support Auxo Prestige Stamping Buy

Private equity firm Auxo Investment Partners has completed its fifth acquisition in 13 months with a deal for a Warren, MI-based Prestige Stamping.

October 18, 2018

Lampert Defends Strategy, Still Strong on Sears

The Wall Street Journal reported Sears chairman Edward Lampert still believes Sears can rise again after filing Chapter 11.

Mathrades Joins A&M Technology Team

Alvarez & Marsal Managing Director Ash Mathradas relocated from A&M Singapore to the firm’s Corporate Performance Improvement practice in San Francisco.

SierraConstellation Partners Hires Stickney as Managing Director

SierraConstellation Partners, an interim management and advisory firm to middle-market companies in transition, hired Webb Stickney as managing director in Houston.

Opus Bank Expands SoCal Commercial Banking Team

Robin Israel has joined Opus Bank as managing director, senior client manager – Commercial Banking.

Encina Provides $35MM Credit Facility to Trucking Company

Encina Business Credit and Encina Equipment Finance provided a $35 million senior secured credit facility to a medium- and long-haul trucking company.

First Internet Provides $5.8MM Financing for BASi

Bioanalytical Systems broke ground last week on the expansion of its GLP toxicology facility on its 52-acre campus in Mt. Vernon, Indiana, near Evansville. First Internet Bank provided $5.87 million in financing to support the expansion.

NatWest Launches Blockchain-based Syndicated Loan Platform

NatWest is integrating a new blockchain-based platform that aims to dramatically transform and streamline the global syndicated loans market. The new platform is set to go live from November 2018.

First Business Capital Closes Two Deals Totaling $10.3MM

First Business Capital completed a $3.346 million credit facility for a metal fabricator and a $7.0022 million facility for a plastic thermoformer.

U.S. Bank Agents Hudson Technologies Loan Extension

Hudson Technologies entered into an extension letter related to its interim waiver and second amendment to its term loan credit and security agreement. U.S. Bank served as administrative agent for the transaction.

GemCap Provides $7.5MM Facility to NexGen

GemCap provided a $7.5 million revolving credit facility to NexGen Financial, a newly formed financial services provider located in Southern California, filling a unique position in the debt settlement space.

Heer Joins Coastal Community Bank as EVP

Coastal Community Bank hired Erika Heer as executive vice president and chief human resources officer. She will take over all functions related to human resources including talent acquisition, staffing strategies, benefits and wellness programs and employee development.

Credit Suisse, ING Others Arrange BB Energy $245MM Revolver

Trading company BB Energy raised a $245 million revolving credit facility to refinance existing credit and for general corporate purposes.

October 17, 2018

BofA Agents $1.5B Facility to Support Penn National/Pinnacle Merger

Penn National Gaming completed its acquisition of Pinnacle Entertainment. Bank of American served as administrative agent for a credit facility of more than $1.5 billion to support the transaction.

Chemical Bank Adds Three ABL Veterans to Team

Chemical Bank added Ben Pugliesi, James Cannella and Michael O’Malley as business development managers of the Asset Based Lending team.

Monroe Supports Acquisition of Vereco by PE Sponsor

Monroe Capital acted as sole lead arranger and administrative agent on the funding of a senior credit facility to support the acquisition and future growth of Vereco by a private equity sponsor.

LBC Supports America II Advanced MP Technology Buy

LBC Credit Partners increases the America II credit facility to $49.7 million to support the acquisition of Advanced MP Technology. America II is a portfolio company of Wynnchurch Capital.

Change Capital Provides $1.85MM to Premier Urgent Care

Change Capital provided a total of $1.85 million in funding to Premier Urgent Care, a healthcare provider based in Philadelphia with 19 locations throughout Southeastern Pennsylvania.

Square 1 Provides $15MM Facility to CallRail

Square 1 Bank provided a $15 million credit facility to new client CallRail, a leading provider of call tracking and analytics software. Proceeds from the facility will be used to support the company’s continued growth and expansion.

MidCap Financial Expands FLOCK Debt Facility

FLOCK Specialty Finance has closed on a new senior debt facility with MidCap Financial Services, an Atlanta-based, alternative funding provider of capital and expertise for the purchase of both charged-off debt portfolios and for the financing of subprime consumer obligations.

Northwest Farm Credit Upsizes Pope Resources Facility to $144MM

Pope Resources has expanded its credit facilities with Northwest Farm Credit Services, increasing its borrowing capacity from $105 million to $144 million.

Kashable Closes $100MM Credit Facility With MidCap Financial

Kashable, an alternative consumer lending solution, has secured a $100 million credit facility from MidCap Financial, a premier specialty finance firm managed by Apollo Capital Management.

LendingUSA Secures Up To $100MM from Credit Suisse

LendingUSA, a financing provider specializing in point-of-need solutions for merchants, closed a $50 million debt facility with Sector Financial, an affiliate of Credit Suisse.

Gulf Coast Business Credit Hires Underwriter

Gulf Coast Business Credit hired Aaron Renaud as an underwriter in its Austin, TX office.

InterNex Provides $7.5MM Facility to Payments Technology Firm

InterNex Capital provided a $7.5 million facility to a payments technology company.

October 16, 2018

Signature Launches Fund Banking Division, Byrne Named Head

Signature Bank launched its new Fund Banking Division, dedicated to providing financing and banking services to the private equity industry. Tom Byrne, named managing group director and head of the Fund Banking Division, will lead the bank’s nationwide platform.

OnDeck Creates ODX to Help Small Banks Digitize Services

OnDeck launched ODX, a new company that will focus on helping banks digitize their small business lending process. ODX will operate as a wholly-owned subsidiary of OnDeck with Brian Geary serving as president.

Santander Taps Aldin To Head Expanded Commercial Banking Team

Santander Bank expanded its Commercial Banking presence in the Southeast region and has named Fred Aldin market director for Southeast commercial banking to lead the expansion. Santander also named Alex Terzi head of Southeast foreign direct investment banking.

Abacus Leads $25MM Facility to Support The Phia Group Recap

Abacus Finance Group served as administrative agent and lead arranger for $25.5 million in senior secured credit facilities to support the growth recapitalization of The Phia Group by WestView Capital Partners.

Coastal Community Bank Appoints New Chief Credit Officer

Coastal Community Bank appointed Daniel J. Lee executive vice president and chief credit and risk officer. He will oversee the management and strategic direction of credit and risk, audit and compliance, and BSA activities.

ING Agents $745MM Sustainability Linked Facility for Gunvor

Gunvor Group closed an innovative $745 million secured borrowing base facility that includes performance commitments related to Gunvor’s sustainability targets.

Navazio Joins Seward & Kissel Corporate Finance Practice

Michele (Miki) Navazio joined Seward & Kissel as a partner in its Corporate Finance practice in New York.

CRG Provides $100MM Term Loan to NanoString

NanoString Technologies entered into a new $100 million term loan facility with the CR Group, a health care focused investment firm.

Vistara Capital Partners Launches $100 Million Debt Fund

Vistara Capital Partners launched its third fund, the Vistara Technology Growth Fund III LP, with a goal to raise $100 million to provide debt financing in the technology industry.

Independent Bank Expands Fort Worth Lending Team

Independent Bank Group named Barry Kromann executive vice president, Fort Worth Area president and Marshall Boyd VP senior mortgage officer.

Trade Finance Leads 2nd Tranche of $100MM Supply Chain Financing

Trade Finance Solutions served as lead financier for the completion of the second tranche of a $100 million supply chain finance program for a Southeastern U.S. mobile technology company.

Concord Closes $9.68MM Facility for AMS Group

Concord Financial Advisors closed a $9.6 million transaction for the AMS Group that included a $7 million revolving line of credit, a $1.6 million equipment term loan, a $750,000 CapEx line of credit and a $250,000 advance term loan.

October 15, 2018

Sears Files Chapter 11, BofA Provides $300MM DIP, Lampert Resigns as CEO

Sears Holdings filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of New York. Bank of America is serving as administrative agent for $300 million of senior DIP financing.

Mariani Joins AlixPartners Financial Services Practice

International financial services expert and former French government aide Pierre Mariani has joined AlixPartners as a managing director in the firm’s financial services practice.

Brassart Joins Perella Weinberg, Expanding Utilities & Infrastructure

Perella Weinberg Partners has added Jérôme Brassart as a managing director in its Advisory business. Brassart will lead the firm’s Utilities and Infrastructure Sector effort within PWP’s Industrials team.

Hilco, Gordon Brothers , SB360 to Close 184 National Stores Locations

National Stores will begin a store closing sale at 184 of its remaining locations. The store closing sales are being conducted by a joint venture consisting of Hilco Merchant Resources, Gordon Brothers and SB360 Capital Partners.

JPMorgan Supports Honeywell Spin-off of Garrett Motion

JPMorgan served as administrative agent for a $1.66 billion senior secured term loan to support Honeywell International’s spin-off of Garrett Motion.

Malhotra Joins Wilmington Trust

Wilmington Trust hired Rohit Malhotra as a senior private banker in the company’s New York City office.

Heritage Bank Provides $5MM Revolver to Spectrum Global

Spectrum Global Solutions has entered into a $5 million revolving asset based line of credit with Heritage Bank of Commerce. This facility is an accounts receivable line of credit that will support the growth of the company’s ADEX subsidiary.

J D Factors Completes Four Transactions Totaling $7.4MM

J D Factors completed four transactions in the week ending October 12, 2018 for a total of $74.445 million.

Chiron Financial Expands Investment Banking Team

Chiron Financial has hired Garland Gay as an analyst and Katia Goncharova as an associate, Business Development. Both will be based in Houston.

HBC Provides $56.6MM Facilities to Winona Foods

Huntington Business Credit closed on $56.6 million credit facilities with Winona Foods.

InterNex Closes $650K ABL for Consulting Service

InterNex Capital provided a $650,000 ABL line of credit for a minority-owned consulting company.

October 12, 2018

Wells Fargo Q3 Earnings Up 32%; C&I Loan, Lease Financing Yields Higher

Wells Fargo reported Q3/18 net income of $6.01 billion was up 32% from $4.54 billion in Q3/17. The bank also noted YTD U.S. C&I Loan and Lease Financing yields of 4.08% and 4.82%, respectively were up from 3.70% and 4.78% for the same period in 2017.

JPMorgan Agents New $295MM Facility for SurveyMonkey

SurveyMonkey, along with its parent company, SVMK, amended its 2017 refinancing facility agreement with a $220 million term loan and a $75 million revolving loan. It also paid down over $100 million of its outstanding debt.

Leading M&A Partner Jacobson Joins Ropes & Gray

Global law firm Ropes & Gray named Matthew Jacobson, an accomplished attorney with experience handling a full spectrum of buy- and sell-side M&A transactions, a partner in the firm’s mergers and acquisitions practice.

J.P. Morgan Agents Repricing of Tailored Brands $896MM Term Loan

Tailored Brands successfully repriced its $896 million senior secured term loan with J.P. Morgan as lead arranger and administrative agent.

MidCap Financial Agents $15MM ABL for Williams Industrial

Williams Industrial Services Group entered into a new, three-year, $15 million secured asset-based revolving credit facility at LIBOR plus 6%, with a minimum LIBOR rate of 1%.

Doss Joins Union Bank as SBA Sales Manager

Steven Doss has joined Union Bank’s regional bank as director, Small Business Administration sales manager. He will be responsible for the processes, marketing, training and direct management of sales and supporting staff of the bank’s SBA program.

Rosenthal Provides $4.5MM Facility to Houseware Distributor

Rosenthal & Rosenthal completed a $4.5 million factoring facility deal for a Tennessee-based provider of decorative coverings and housewares products which specializes in padding and liners for rugs, grocery store shelving and automobiles. The funds will be used to increase working capital availability.

Umpqua Bank Names Anchel EVP/Head of Innovation

Umpqua Bank named Käthe Anchel the bank’s first head of innovation. Anchel, a leader in the area of fintech customer experience, will lead Umpqua’s innovation team under Rilla Delorier, executive vice president and chief strategy officer.

ING Provides $25MM Facility to Petros

ING Capital closed a $25 million credit facility with Petros PACE Finance, the leading Commercial Property Assessed Clean Energy lender in the U.S.

Lawrence Financial Closes $20MM in Transactions in Q3/18

Los Angles-based Lawrence Financial Group completed transactions totaling $20 million in Q3/18.

TCF Capital Supports Knox Capital’s Stancor Refi

TCF Capital Funding provided $24.5 million in secured financing to support Knox Capital Holdings in its refinancing of Stancor.

KeyBank Provides $65MM Revolver to GridLiance

GridLiance High Plains, an independent transmission company and subsidiary of GridLiance Holdco, closed on a $65 million revolving credit facility with KeyBank.

Tradewind Provides $10MM A/R Facility to Auto Parts Company

Tradewind closed a $10 million A/R financing facility for a China-based manufacturer of various parts for the automotive, high-speed rail and airplane industries.

October 11, 2018

BofA, Wells Fargo, Citigroup Push Sears to Liquidate

The Wall Street Journal reported that Sears Holdings’ biggest lenders are pushing the retailer to liquidate its assets in a Chapter 7 bankruptcy filing.

Pinnacle Financial Adds 23 Bankers in Four States

Pinnacle Financial Partners expanded its four-state footprint by hiring bankers from large regional and national competitors, recruiting 23 bankers with an average of 23 years of experience.

Clifton Joins Great Rock Capital as MD/Originations

Jim Clifton joined Great Rock Capital as managing director of Originations based in Chicago.

BMO Harris Agents $500MM Facility for Lilis Energy

Lilis Energy entered into a five-year, $500 million credit agreement. The credit agreement provides for a senior secured reserve based revolving credit facility with an initial borrowing base of $95 million.

Antares Supports AE Industrial Partners Atlas Group Buy

Antares served as joint lead arranger and will act as administrative agent on a senior secured credit facility to support the acquisition of The Atlas Group by AE Industrial Partners.

CIT Serves as Sole Lead Arranger on $15M Maritime Loan

CIT Group’s Maritime Finance unit served as sole lead arranger on a $15 million senior secured loan for MRC Maritime Holdings, a ship-owning entity controlled by a private New York City-based investment fund manager.

Vinson & Elkins Leveraged Finance Practice Adds Jenkins

Vinson & Elkins continues to expand its global corporate practice with the addition of leveraged finance partner Lucy Jenkins in London.

Rosenthal Leads $13MM ABL for Reed’s

Reed’s, owner of the nation’s leading portfolio of handcrafted, all-natural beverages, has successfully refinanced its outstanding facilities led by Rosenthal & Rosenthal.

Super G Provides $2MM Junior Participation Term Loan

Super G Capital provided a $2 million term loan to a producer of parts for OEM manufacturers in the agriculture, construction, mining, and oil & gas industries.

TFS Provides $3.2MM Facility to Mass Merchandiser

Trade Finance Solutions funded a cross-border C$4.5 million ($3.2 million) purchase order/ accounts receivable credit facility to a sporting goods and toy distributor in Canada that purchases inventory from Asia and sells in Canada and the U.S.

TAB Bank Provides $1MM Revolver to Transportation Company

TAB Bank provided a $1 million revolving credit facility for a transportation company located in Oklahoma.

Robinsons Joins CIFC as Chief Investment Officer, Europe

CIFC, a credit manager specializing in U.S. corporate and structured credit strategies, has hired Dan Robinson as chief investment officer, Europe.

October 10, 2018

Signature Adds Eight Financial Execs to Specialty Finance & ABL Groups

Signature Bank hired eight financial executives to join its Specialty Finance subsidiary and Asset-Based Lending business.

BofA Agents New $150MM ABL for Basic Energy

Basic Energy Services entered into a new $150 million asset-based lending credit facility that is secured by its accounts receivable and related assets.

Houlihan Lokey Adds Brock to London Industrials Team

David Brock joined Houlihan Lokey as a managing director in its Industrials Group, focused on the building products sector. He will be based in London.

Capital One Names Elliott North Louisiana Market President

Jennifer Elliott joined Capital One as North Louisiana Market president and commercial relationship manager.

WOHCF Provides $33MM Financing to SoClean

White Oak Healthcare Finance closed an incremental financing for SoClean, a portfolio company of DW Healthcare Partners.

Bannon Joins Tiger Group as Director of Furniture Solutions

Home furnishings industry veteran Mark Bannon joined Tiger Group as director of Furniture Solutions.

Siena Provides $12MM Revolver for New Age Beverages

Siena Lending Group provided a $12 million revolving credit facility to New Age Beverages. The facility was used to support the company’s inventory requirements and growth plans and to refinance existing senior debt.

NeJame Joins B. Riley FBR Corporate Restructuring Division

Richard NeJame joined B. Riley FBR as a senior managing director in the firm’s growing Corporate Restructuring division.

Lee Joins Piper Jaffray Financial Sponsor Coverage Group

Piper Jaffray hired David Lee as a managing director within its financial sponsors coverage group. He will be based in the firm’s New York office.

LBC Small Cap Provides Unitranche to Custom Foods

LBC Small Cap, an affiliate of LBC Credit Partners, provided a unitranche credit facility and equity co-investment to Custom Foods to support the latter’s growth and acquisition strategy.

Banking/Finance Lawyer Slater Joins Dorsey in London

International law firm Dorsey & Whitney hired Phil Slater as a Banking & Finance partner in its London office.

Byline Supports Wincove’s Merger of The Tool House with Rhino Assembly

Byline Bank’s Sponsor Finance Group increased revolving and term credit facilities to finance the combination of Wincove’s current investment, Rhino Assembly, with The Tool House.

October 9, 2018

BofA Agents $250MM DIP for American Tire Distributors

American Tire Distributor reached an agreement with a majority of its term loan holders to support its restructuring support agreement, which would reduce the company’s debt by approximately $1.1 billion and increase its financial flexibility as it continues its ongoing transformation.

GE Capital Energy Financial to Sell Equity Portfolio to Apollo

Funds managed by affiliates of Apollo Global Management and GE Capital reached an agreement where Apollo will acquire a $1 billion equity portfolio from GE Capital’s Energy Financial Services unit.

Roslin Joins First Business Growth Funding

Anne Roslin joined First Business Growth Funding as vice president – Business Development.

Jeffries Adds $30MM Term Loan to AGS $509MM Facility

AGS repriced its existing $509 million in term B loans and secured commitments from lenders for an additional $30 million in term loans under its existing credit agreement.