Mackinac Funds ABL Line for MI-Based Manufacturer
Mackinac Commercial Credit said it funded a $2.5 million ABL line of credit for a MI-based manufacturer of polyethylene products.
Mackinac Commercial Credit said it funded a $2.5 million ABL line of credit for a MI-based manufacturer of polyethylene products.
Renasant Business Credit funded a $3 million ABL revolver for an electrical and industrial wholesale distribution supply company based in Georgia.
GI Partners said it completed its acquisition of Peak 10. Financing for the transaction is being provided by affiliates of Credit Suisse, RBC Capital Markets and Jefferies.
TAB Bank announced it has provided a $750,000 credit facility for an IT staffing company located in the Northeast. The new facility is based on accounts receivable.
Vertical Communications announced the completion of a debt and equity financing in conjunction with its merger with Fulton Communications. Silicon Valley Bank provided a new senior credit facility as part of the overall financing.
AloStar Business Credit announced that Jason Carmona has been named direct of originations. Carmona was previously with First Capital.
According to Forbes, unitranche lending proves to have more staying power than anticipated. Calling unitranche debt the “it” product during the credit crises, Forbes notes that the financing alternative remains popular, despite the revitalized economy.
Guggenheim Securities announced the hiring of Andrew Booth as a senior managing director and head of Leverage Finance. Booth joins from Lazard where he was management director and head of Leverage Finance Capital Markets.
BMO Harris Bank’s Sponsor Finance group announced it was sole lead arranger and is administrative agent for $20 million in senior credit facilities to Classic Party Rentals.
Triumph Bancorp announced the completion of its previously announced acquisition of the lending platform and certain assets of Doral Healthcare Finance, which has been rebranded Triumph Healthcare Finance.