October 18, 2019

Sterling Bancorp Promotes Lopp to Chairman/CEO

Sterling Bancorp Chairman and CEO Gary Judd will retire after more than 11 years with the company. The bank’s board has appointed Tom Lopp, the current president, chief operating officer and chief financial officer, to succeed Judd.

JPMorgan Agents $850MM Facility for Tempur Sealy

Tempur Sealy International amended its $850 million revolving and term loan senior secured credit facilities.

Santander Appoints Dunphy Head of Mid Corporate Banking

Santander Bank appointed Patrick Dunphy as head of its Mid Corporate Banking and Verticals businesses within the Commercial Bank.

Wasserman Joins Huntington as Chief Financial Officer

Zachary J. Wasserman will join Huntington Bancshares as senior executive vice president and chief financial officer.

SSG Advises True Health in Sale of Assets to Cleveland HeartLab

SSG Capital Advisors acted as the investment banker to THG Holdings in the sale of select assets to Cleveland HeartLab, a subsidiary of Quest Diagnostics.

Amerisource Acquires Specialty Finance Units from MidSouth Bank

Amerisource Business Capital acquired two specialty finance business units from MidSouth Bank, based in Lafayette, LA.

First Internet Bank Expands SBA Team

Mark Gibson has joined the First Internet Bank SBA lending team as national sales manager.

Carter Joins Hinshaw Commercial Transactions Practice in Chicago

Mark A. Carter has joined Hinshaw & Culbertson as a partner in the Commercial Transactions Practice in the Chicago office.

Lighthouse Financial Provides $4MM Facility to Fabrics Distributor

Lighthouse Financial completed a $4 million credit facility for a North Carolina based manufacturer and distributor of narrow fabrics.

Amerisource Closes $1MM Facility for Distribution Company

Amerisource Business Capital closed a $1 million credit facility for a growing distribution and warehousing company based in California and Georgia.

October 17, 2019

Lessard to Lead Restructured Wells Fargo Canadian ABL/EF Team

Wells Fargo Commercial Capital has realigned its Canada-based Equipment Finance and ABL originations teams into a newly integrated business unit.

BMO Provides $3MM ABL to ILA

iLOOKABOUT closed a credit facility with Bank of Montreal’s Technology & Innovation Banking Group consisting of a $1.5 million term loan and a $1.5 million revolving credit facility, both of which mature in October 2022.

Johnson Joins Pinnacle Bank Capital Finance Group as EVP

Jeffrey Johnson has joined Pinnacle Bank’s Capital Finance Group as executive vice president.

DePledge to Lead Leumi USA ABL Division

Bank Leumi USA has hired John DePledge to head its New York-based Asset-Based Lending business.

Alantes Agents $11.5MM Term Loan for Entertainment Services Company

Alantes secured a $11.5 million term loan for an entertainment services company.

Laurentian Names Gunderson EVP/Capital Markets

Laurentian Bank Financial Group has appointed Kelsey Gunderson as its executive vice president, Capital Markets and president and CEO of Laurentian Bank Securities.

A&M Expands Tech Advisory Services with New Hire

Alvarez & Marsal has appointed Mary Jesse a senior director based in Seattle in its Corporate Performance Improvement group.

CIT Northbridge Arranges $40MM Facility for Hantover

CIT Northbridge Credit served as sole lead arranger on a $40 million senior secured credit facility for Hantover, a distributor of products to the food processing industry.

Wintrust Closes New $4MM Facility for Transpiration Broker

Wintrust Receivables Finance funded a $4 million credit facility for a transportation broker based in Illinois.

ITC Relaunches Brand and New Website

ITC – Invoice to Cash, an Accutrac Capital Group company, has rebranded and launched a new website.

October 16, 2019

FTI Consulting Expands Forensic & Litigation Consulting Team

FTI Consulting has added Naidira Alemova as a senior managing director and Kyle Daddio as a managing director in the Financial Services practice within the Forensic and Litigation Consulting segment.

Rosenthal Provides $5MM Facility for Horticulture Lighting Manufacturer

Rosenthal & Rosenthal completed a combined $5 million inventory production and asset-based lending deal for a private equity-owned manufacturer of specialized LED lighting systems.

BHI Appoints Kochanov To Lead Independent Underwriting Team

BHI appointed Oleg Kochanov as senior vice president, head of Credit Underwriting.

MidCap Business Credit Provides $4MM ABL to Trans-Lux

MidCap Business Credit closed a $4 million asset-based credit facility for Trans-Lux.

Huddleston Joins Prestige Capital as Sales Director, Midwest

Fort Lee, NJ-based Prestige Capital hired Stacey Huddleston to its team as sales director, Midwest.

TD Provides $2.4MM SBA Loan to Support Kubert School Buy

TD Bank’s U.S. SBA Lending Group closed $2.4 million combined in 7(a) term and 7(a) express loans for The Kubert School in Dover, NJ, which offers a fully accredited three-year course for cartoon and graphic arts.

Coral Capital Provides $1.2MM Factoring Facility to Food Distributor

Coral Capital Solutions provided a $1.2 million annual factoring facility to a startup distributor of natural frozen hand-held pies.

Bibby Financial Closes Two Deals Totaling $2.05MM

Bibby Financial Services closed two credit facilities for Quebec-based companies, totaling $2.05 million.

SG Credit Provides $6.5MM Facility to SaaS Company

SG Credit Partners provided a $6.5 million senior secured credit facility to a SaaS company

Sallyport Supports Print Firm Turnaround with $1.5MM A/R Facility

Sallyport Commercial Finance provided a $1.5 million accounts receivable facility to a company that focuses on high quality print for advertising and packing.

October 15, 2019

JPMorgan Chase Agents $1.35B in Facilities for MSG Networks

JPMorgan Chase Bank acted as administrative agent on $1.35 billion in credit facilities for sports network MSG Networks, which broadcasts the games of the New York Knicks, among others.

Wells Fargo Reports $4.6B in Income for Q3/2019

Wells Fargo reported its financial results for the third quarter of 2019. Net income for the quarter was $4.6 billion, compared with $6.0 billion in third quarter 2018.

JPMorgan Chase Arranges $60MM Upsize to Lawson Products Facility

JPMorgan Chase Bank acted as administrative agent on a $60 million upsize to Lawson Products’ credit facility, bringing the total borrowing capacity to $100 million.

Monroe Supports TEAM Services/AmeriBest Home Care Partnership

Monroe Capital acted as administrative agent and joint lead arranger on the funding of a senior credit facility to support TEAM Services Group’s partnership with AmeriBest Home Care.

Mercantile Bank Reports Strong Third Quarter 2019 Results

Mercantile Bank reported net income of $12.6 million for the third quarter of 2019, compared with net income of $10.1 million for the respective prior-year period.

SVB Provides $10MM Revolver to Luna Innovations

Luna Innovations entered into a new $10 million revolving credit facility with Silicon Valley Bank.

North Mill Provides $3.5MM A/R Facility to Innominds

North Mill Capital provided a $3.5 million accounts receivable credit facility to Innominds Software.

Internex Capital Provides $500K to Woman-Owned Lab

Internex Capital provided $500,000 to a Texas-based company that specializes in environmental lab testing.

October 14, 2019

WSJ: Barneys Stalking Horse Deadline Extended to Tuesday

According to the Wall Street Journal, lenders for bankrupt retailer Barneys New York have extended the deadline for the company to find a stalking horse bidder until Tuesday, October 15.

Goodman Factors Rebrands as Goodman Capital Finance

Goodman Factors has rebranded as Goodman Capital Finance, a name that better reflects its new and broader product offering.

Sutter Named Head of Wells Fargo Corporate Trust Services

Wells Fargo appointed industry veteran Patricia Sutter head of Wells Fargo Corporate Trust Services. She will report to David Marks, head of Wells Fargo Commercial Capital.

Moenickheim Joins Gateway First Bank as Chief Risk Officer

Peter Moenickheim joined Gateway First Bank, one of the largest banks in the State of Oklahoma, as its chief risk officer.

Fifth Third Business Capital Provides $21.5MM to Spray Products

Fifth Third Business Capital acted as sole lender and administrative agent on the funding of a new $21.5 million senior credit facility for Spray Products.

Barclays, Citibank, Others Provide $154.4MM Revolver to Keywords Studios

Barclays Bank, Citibank, HSBC and Silicon Valley Bank provided a revolving credit facility of up to €140 million ($154.4 million) to Keywoods Studios.

PNC Agents $100MM ABL Revolver for Ferroglobe

PNC Bank acted as lender and agent on a new, five-year $100 million North American asset-based revolving credit facility.

Matthews Joins Community Trust Bank Board of Directors

Community Trust Bank appointed Ina Michelle “Missy” Matthews to its board of directors. Matthews is the president of Childers Oil/Double Kwik, Whitesburg, KY.

Deutsche Bank Supports HGGC Acquisition of Monotype Imaging

Deutsche Bank Securities served as left lead arranger on the debt financing to support HGGC’s acquisition of Monotype Imaging Holdings.

October 11, 2019

Fed Seeking to Bar Former Pacific Premier Exec from Banking

The Federal Reserve Board is seeking to permanently bar Mai Ly-Vu, a former branch manager and vice president of Pacific Premier Bank, from employment in banking industry.

Target to Re-Launch Toys ‘R’ Us Brand

ToysRUs.com relaunched today with videos and articles on the latest toy trends and brands. The website will be powered by Target.

Barclays, Deutsche, Others Lead B&G Foods $450MM Term Loan

B&G Foods closed a $450 million tranche B term loan facility under its existing senior secured credit facility.

Reuters: U.S. Banks Expected to Report Q3 Earnings Decline

Reuters reported the biggest U.S. banks are expected to kick off the earnings season on a sour note next week due to falling interest rates.

Corporate Energy Lawyer Freeman Joins Haynes and Boone

Michael Freeman has joined Haynes and Boone as a Dallas-based partner in the firm’s Energy Practice Group.

SSG Advises Rocket Air Supply in the Sale of Interests

SSG Capital Advisors acted as the investment banker to Rocket Air Supply in the sale of all of its interests to Baroda Group and Anchor Capital & Investments.

CIT Arranges $87MM Financing for Storage Rentals of America Recap

CIT Group’s Real Estate Finance unit served as lead arranger on $87 million in financing for a portfolio of Storage Rentals of America self-storage facilities.

Fidelity Bank Names Bueche Chief Credit Officer

Fidelity Bank named Brian Bueche senior vice president and chief credit officer.

Madison Street Advises Sale of Attero Tech to QSC

Madison Street Capital acted as the exclusive advisor in the sale of Attero Tech to QSC.

Osborne Joins Accord Financial as SVP

Accord Financial hired Cathy Osborne as senior vice president of Human Resources.

October 10, 2019

BMO Agents $750MM Exit Facility for Halcón Resources

Halcón Resources has emerged from bankruptcy under Chapter 11 of the U.S. Bankruptcy Code.

Lehnes Returns to Versant Funding as BDO

Chris Lehnes is returning to his role of business development officer at Versant Funding, based in Fairfield County, CT.

Shanks Joins Sidley M&A/PE Group in London

Eleanor Shanks will join Sidley and Austin in London. as a member of the global M&A and Private Equity practice.

Wintrust Financial Completes Acquisition of STC Capital Bank

Wintrust Financial completed its acquisition of STC Bancshares.

Galvez Joins BBVA USA as Commercial Banking Relationship Manager

BBVA USA has hired David Galvez as its new Commercial Banking Relationship Manager.

Jefferies Agents $525MM Term Loan for Virtu Financial

Subsidiaries of Virtu Financial closed their previously announced incremental $525 million senior secured first lien term loan.

Regions Provides $10MM Facility to Harvest Oil & Gas

Harvest Oil & Gas has entered into a new $10 million credit facility with Regions Bank.

First Waterloo to Acquire Best Hometown Bancorp

First Waterloo Bancshares will acquire all of the outstanding shares of common stock of Collinsville, IL-based Best Hometown Bancorp.

Goldman Sachs Provides $100MM Facility to Konfío

Mexican fintech lender Konfio secured a $100 million credit facility from Goldman Sachs.

J D. Factors Closes 7 Deals Totaling $1.14MM

J. D. Factors completed seven factoring facilities totaling $1.14 million.

October 9, 2019

Daks Joins Rosenthal & Rosenthal West Coast Team as VP

Independent factoring and ABL financing firm Rosenthal & Rosenthal appointed Phillip Daks as a vice president/account executive in the firm’s West Coast office.

Siena Closes New ABL Revolver for Doodad Printing

Siena Lending Group completed a new asset-based revolving credit facility for Doodad Printing.

Citibank Agents $300MM Upsize to KB Home Revolver

Citibank served as administrative agent on an amendment to KB Home’s revolving credit facility, which increased the borrowing capacity to $800 million and extended the maturity date to October 2023.

Access Capital Provides Financing to HonorVet Technologies

Access Capital provided a $1 million credit facility to HonorVet Technologies, a certified service-disabled-veteran-owned small business (SDVOSB).

Abacus Agents $48MM Facility to Support Receivable Solutions Recap

Abacus Finance Group served as administrative agent and co-lead arranger for $48 million in senior secured credit facilities to support the recapitalization of Receivable Solutions by WestView Capital Partners.

ING Agents $300MM Revolver for Gerald Group

ING Capital led a $300 million syndicated financing on behalf of GT Commodities, the North American trading hub for Gerald Group, the world’s largest employee owned metals merchant.

LBC Credit Partners Expands DreamLine Facility

LBC Credit Partners increased DreamLine’s senior secured credit facilities to support an investment in Arizona Shower Doors.

Small Business Loan Approvals at Big Banks Hit New Record High

Approval rates for small business loan applications rose to another post-recession record (27.9%) at big banks according to the Biz2Credit Small Business Lending Index. Non-bank approvals slipped by a 10th of a percent

CIT Hires McElyea to Lead Merchant and Card Initiative

Bob McElyea has joined CIT Group as managing director leading CIT’s Merchant and Card Initiative in the Treasury and Payment Services group.

ABN AMRO, Nordea, Others Provide $34.3MM Loan for Eagle Bulk

Eagle Bulk Ultraco closed on a $34.3 million incremental term loan under its existing five-year senior secured term loan facility, which bears an interest rate of LIBOR plus 2.50% and matures in 2024.

October 8, 2019

Garrington Buys Liquid Capital Assets, Launches Two ABL Firms

The Garrington Group of Companies has purchased the assets of Liquid Capital and launched Blacksail Partners and IconiQ Finance to serve ABL borrowers in the U.S. and Canada.

Encina Provides $15.3MM Facility to Parts Manufacturer

Encina Business has provided a $15.3 million senior secured credit facility to a manufacturer of thermoplastic molds and modeled parts.

IDB Bank Taps Biron as CEO, Promotes Levin to Lead Parent Company

IDB Bank’s board of directors named Ziv Biron its president and CEO. Biron currently serves as chief financial officer and head of Planning Strategy and Finance Division at IDB’s Tel Aviv-based parent, Discount Bank.

Winter Harbor Adds Montgomery to Expand National Presence

Jay Montgomery has joined Winter Harbor and will be based in Columbia, SC.

Apollo, Elliott Cut Deal to Support EP Energy Chapter 11 Filing

The Wall Street Journal reported EP Energy filed for Chapter 11 protection by cutting $3.3 billion in debt under a proposed deal with Apollo Global Management and Elliott Management.

Ropes & Gray Adds Two Finance Partners in New York

Leonard Klingbaum and Andrea Hwang have joined Ropes & Gray’s Finance Practice as partners in the firm’s New York office.

Twin Brook Supports AVALT Acquisition of Ned Stevens

Family office AVALT has purchased Ned Stevens, a provider of residential gutter cleaning and essential exterior home services.

A&M Adds Yum to Corporate Performance Improvement Group

Alvarez & Marsal has appointed Jason Yum as senior director to its Corporate Performance Improvement group in Seattle.

Utica Leaseco Completes Two Transactions Totaling $900K

Utica Leaseco completed two transactions for hemp companies totaling $900,000.

North Mill Provides $1MM A/R Facility to Staff Right

North Mill Capital has provided a $1 million accounts receivable facility to Staff Right Solutions.

October 7, 2019

Hildreth & Roe Join Ankura as Senior Managing Directors

Ankura appointed two new senior managing directors based in London, economist Andrew K. G. Hildreth and infrastructure and capital projects expert Jonathan Roe.

Twin Brook Supports Kinderhook Acquisition of Copperweld

Twin Brook Capital Partners served as administrative agent for a $39 million facility to support Kinderhook Industries acquisition of Copperweld Bimetallics.

Wells Fargo Agents $400MM Revolver for Tyler Technologies

Tyler Technologies has entered into a new five-year, $400 million revolving credit facility with Wells Fargo as administrative agent.

TD Agents $300MM Facility for Badger Daylighting

Badger Daylighting and its subsidiaries have increased their senior secured credit facility with a group of five lenders from $145 million to $300 million, with TD Bank as administrative agent.

Hoerig Joins Heritage Southeast as EVP/Chief Credit Officer

Paul Hoerig has joined newly formed Heritage Southeast Bank as Executive vice president and chief credit officer.

Encina Provides $25MM Facility to Pharmaceutical Company

Encina Business Credit provided a $25 million senior secured credit facility to a pharmaceutical company.

Briar Capital Closes Two Loans Totaling $6.735MM For Market Research Firm

Briar Capital Real Estate Fund provided two new real estate loans totaling $6.735 million secured by properties in Chicago and Los Angeles, to a market research company.

CIT Bank Provides New ABL for Nebraska Book Company

Nebraska Book Company entered into a new five-year, asset-based loan facility with CIT Bank.

Tiger Group Sells Stake in BikeCo to Advanced Holdings

Tiger Capital Group has sold its stake in the newly formed BikeCo, to joint venture partner Advanced Holdings.

PNC Amends Hallador Energy $238MM Facility

Hallador Energy closed on a credit facility amendment with its administrative agent, PNC Bank.

October 4, 2019

TD Promotes Barr to New Hampshire Commercial Market President

TD Bank has promoted Gary Barr to New Hampshire Commercial Market President.

WSJ: Fed Expected to Give Large Banks a Break

The Wall Street Journal reported The Federal Reserve is expected next week to vote on measures to ease liquidity and capital rules for large U.S. banks.

September Commercial Chapter 11 Filings Up 33% Over 2018

ABI reported Commercial Chapter 11 filings totaled 414 in September, a 33% increase over September 2018’s total of 312 filings, according to data provided by Epiq Systems.