Great Lakes Dredge & Dock Corporation, the largest provider of dredging services in the United States, entered into a $150,000,000 5-year, senior secured second-lien credit agreement with Guggenheim Credit Funding, LLC, on behalf of one or more clients. The Company borrowed $100,000,000 under the Second Lien Credit Agreement on the Closing Date and has the option to draw an additional $50,000,000 for a period of 12 months following the closing date of the initial loan. The loans under the Second
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April 26, 2024 @ 07:58 AM
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Tillman Infrastructure, a leading provider of wireless communication infrastructure, completed a financing package totaling $1 billion. The proceeds will be used to refinance existing loans and provide additional growth capital to support its wireless carrier and wireless infrastructure service provider (WISP) customers' infrastructure needs."The Tillman Infrastructure team continues to deliver industry leading solutions for our customers," said Suruchi Ahuja, CEO of Tillman Infrastructure. "We
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April 26, 2024 @ 07:47 AM
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Star Equity Holdings announced that its KBS Builders (“KBS”) business unit has closed a $4 million revolving line of credit with KeyBank. KBS intends to use the LOC to meet its working capital requirements and execute its business plan. The closing of this LOC provides both KBS and Star with financial flexibility to focus on their respective growth initiatives.
The LOC has an April 30, 2025 maturity date, which can be extended based on fulfillment of certain terms and conditions. Borrowings
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April 26, 2024 @ 07:41 AM
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CIBC Innovation Banking provided credit facilities to support Sumeru Equity Partners’ (Sumeru) strategic investment in Toronto-based Q4 Inc., the first IR Ops Platform."With the successful completion of the transaction with our new sponsor, Sumeru Equity Partners, we are excited to deliver even greater value to our clients as the first AI-driven IR Ops Platform,” said Darrell Heaps, Founder and CEO of Q4 Inc. “We are pleased to have the continued support from CIBC Innovation Banking as the
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April 26, 2024 @ 07:39 AM
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Alvarez & Marsal's Corporate Performance Improvement (CPI) Group announced the appointments of New York-based Managing Director Annie Peabody and Dallas-based Managing Director Peter Andrews within its Corporate Transformation Services (CTS) practice. These appointments expand A&M’s CTS offering in response to market demand for innovative and profitable transformation solutions that address clients’ current needs while anticipating their future challenges. Ms. Peabody brings more than 20 years’
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April 26, 2024 @ 07:33 AM
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Credibly announced the close of its third securitization totaling $75 million in additional funding capacity. This milestone marks a significant achievement for the Company, with KBRA assigning a “AA” credit rating to the senior notes. The issuance was well received by the capital markets and showcased Credibly’s strong origination capabilities and portfolio management. Credibly also renewed its credit facility, resulting in approximately $100 million in funding capacity for SMB receivables.
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April 26, 2024 @ 07:30 AM
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Sunstone Credit, a commercial solar loan platform that helps businesses switch to clean energy, announced a program with M&T Bank to give more businesses access to easy, affordable solar financing.Despite the advantages and incentives for businesses to go solar, most companies lack access to loan financing for solar installations, forcing them to pay cash or forgo switching to clean energy altogether. By collaborating with M&T Bank, a top 20 commercial bank in the United States, Sunstone will
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April 26, 2024 @ 07:00 AM
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KKR and Blackstone Real Estate Income Trust announced a definitive agreement for funds managed by KKR to acquire a portfolio of 19 purpose-built student housing properties from BREIT for approximately $1.64 billion.The over 10,000-bed portfolio is comprised of 19 purpose-built, premium student housing assets anchored to 14 leading four-year public universities across 10 states. The communities feature a wide range of best-in-class amenities and the majority are located with easy pedestrian
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April 25, 2024 @ 08:05 AM
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The Federal Trade Commission issued a final rule to promote competition by banning noncompetes nationwide, protecting the fundamental freedom of workers to change jobs, increasing innovation, and fostering new business formation.“Noncompete clauses keep wages low, suppress new ideas, and rob the American economy of dynamism, including from the more than 8,500 new startups that would be created a year once noncompetes are banned,” said FTC Chair Lina M. Khan. “The FTC’s final rule to ban
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April 25, 2024 @ 07:58 AM
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Mattr Corp. successfully closed on its credit facility with The Toronto-Dominion Bank and National Bank Financial Markets as Co-Lead Arrangers and Joint Bookrunners, and Royal Bank of Canada, JP Morgan Chase Bank, Export Development Canada and ATB Financial as lenders. The Credit Facility extends the US$300 million senior secured revolving facility through April 2028.“This new revolving facility combined with our recently executed bond placement and strong cash position gives Mattr the financial
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April 25, 2024 @ 07:47 AM
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U.S. corporate finance leaders have increased focus on cutting costs to prepare their firms for potential economic and geopolitical uncertainty, according to the fourth annual U.S. Bank CFO Insights Report.The survey of more than 2,000 senior finance leaders nationwide revealed the top two priorities are cutting costs within the finance function and across the entire business. In contrast, driving revenue growth is just the fifth most prevalent priority. Cutting costs within the finance function
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April 25, 2024 @ 07:45 AM
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Gordon Brothers agented a $200 million delayed draw term loan for Big Lots Inc. The U.S. home discount retailer of general merchandise will use the loan’s delayed draw feature to execute on strategic initiatives with the remaining amount to draw upon for available working capital and flexibility as needed. “Having established a working relationship with Big Lots over the last few years, we combined our flexible financial structure with our full suite of holistic services for a complete solutions
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April 25, 2024 @ 07:40 AM
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B. Riley Securities served as exclusive financial advisor to GCT Semiconductor, Inc. in connection with its ~$667 million business combination with Concord Acquisition Corp III. Upon the closing of the previously announced business combination, the Company began trading on NYSE under the ticker symbol “GCTS.”The transaction values GCT at an enterprise value of approximately $461 million, with a total pro forma enterprise value of $667 million, which includes 20.6 million performance-based
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April 25, 2024 @ 07:37 AM
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SLR Digital Finance (SLRDF) funded a $500,000 accounts receivable credit facility for a digital media startup.The company provides programmatic advertising services, helping brands and agencies optimize ad spend across online video, connected TV, audio streaming, and social media. The funding strengthens the company’s working capital position as they begin to work with larger agencies with longer payment terms.
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April 25, 2024 @ 07:18 AM
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Monroe Capital acted as sole lead arranger and administrative agent on the funding of a senior credit facility and equity co-investment to support the future growth of Epika Fleet Services (“Epika”), an existing portfolio company of Trivest Partners. Headquartered in Nashville, TN, Epika is a coast-to-coast provider of mobile and in-shop preventive maintenance services for heavy and medium duty commercial truck and trailer fleets. Epika’s vast coverage network comprised of mobile service trucks
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April 25, 2024 @ 07:14 AM
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