Siena Lending Group received the refinancing of the year award at the 15th Annual Turnaround Awards in the under $100 million category for closing a $21.5 million credit facility that supported the refinancing of Arandell Corporation and its acquisition by Saothair Capital Partners.
Siena Lending Group closed a previously announced $80 million credit facility with iMedia Brands. In addition to the $80 million asset-based revolving credit facility, Siena arranged a $28.5 million term loan secured by company-owned real estate, which was completed in conjunction with Siena’s loan.
iMedia Brands closed on a new $108.5 million debt financing consisting of a revolving credit facility from Siena Lending Group and a term note from GreenLake Asset Management.
Siena Lending Group, an independent asset-based lending company, increased its senior credit facility with Wells Fargo Capital Finance to $400 million.
Siena Lending Group delivered $205 million across eight deals and Siena Healthcare Finance delivered $16.5 million across two deals in Q2/21.
Siena Lending Group completed a three-year asset-based revolving credit facility for a family‐owned and operated textile manufacturer. The facility consists of a $50 million revolver and an $8.1 million term loan.
Siena Lending Group closed three deals with an aggregate value of $45 million in Q1/21. In addition, Siena Healthcare Finance completed a $35 million deal with a New York-based home health company during the quarter.
Siena Lending Group hired Joe Panico as director of originations based in Cleveland, where he will focus on providing asset-based lending solutions for middle market companies in Ohio, Michigan, Pennsylvania and western New York.
Siena Lending Group hired Geoffrey Samuels as vice president of new business originations. In his new role, Samuels will focus on special situations, including Chapter 11, DIP and exit financings. He will report directly to Nick Payne, director of originations for Siena Lending Group.
Siena Lending Group and Siena Healthcare Finance closed 10 facilities aggregating $135 million in Q4/20, with 25 transactions totaling more than $285 million completed in 2020 overall.