David Morris International, a London-based jeweler, secured a £15 million asset-based loan from RBS Invoice Finance to support the company’s global expansion plans. Hilco Appraisal Europe was called upon to provide inventory valuation.
GA Keen Realty Advisors announced that the sale of the former home to H&H Bagels in New York City closed on February 2, 2012 at the price of $11 million. GA Keen was hired to solicit and negotiate the stalking-horse contract and market the property for higher and better offers.
MidCap Business Credit has appointed Mark Schroeder to its business development team. He is a vice president and will cover the Midwest and Great Lakes regions. Schroeder has spent the last 18 years in asset-based finance.
TNS has completed a refinancing of its existing senior secured credit facilities. SunTrust Robinson Humphrey and Bank of America Merrill Lynch, at the company’s direction, acted as joint lead arrangers for the new credit facility.
The Commercial Finance Association announced it has launched a nationwide search to find a new chief executive officer. CFA first vice president Michael Haddad has been appointed to oversee the search process.
Advanced Photonix has established a new credit facility with Silicon Valley Bank. The new credit facility is initially comprised of a three-year term note of $1 million, and a two-year $5 million revolving line of credit.
General Maritime has filed a Plan of Reorganization and a Disclosure Statement with the U.S. Bankruptcy Court for the Southern District of New York. The company intends to seek confirmation of the plan by April 2012.