News

TSL Express
TSL TOP STORY
Capital One Funds Net Zero Energy Usage Renovation of the American Geophysical Union’s D.C. Headquarters 
Capital One announced that it has provided term loans to finance the renovation of the Washington, D.C., headquarters of the American Geophysical Union (AGU). Capital One’s participation included a tax-exempt bond held by Capital One Municipal Funding and a taxable bond held by Capital One, N.A. AGU aspires to be the first organization in the District of Columbia to renovate an existing commercial building for net-zero energy usage.
 
“At Capital One, we consider environmental sustainability an essential element of corporate citizenship,” said Kathleen Malloy, senior vice oresident and Washington-area manager of Capital One’s Not-for-Profit Banking Group. “We were able to move quickly to provide AGU with the best possible financing tailored to their specific needs for this groundbreaking project.”
 
A net-zero building realizes an annual balance between energy demand and the energy created on site. To achieve net zero, AGU incorporated a variety of sustainable technologies including an 11.5-foot-high rooftop photovoltaic array, a green wall to reduce energy loads and improve indoor air quality, a municipal sewer heat exchange, and high-performance exterior upgrades such as triple-pane glazing, dynamic glass shading, and enhanced insulation. The building will attain other sustainability goals by reusing existing architectural elements, repurposing building materials, and recycling demolition and construction debris.
 
“We’re pleased to work with Capital One, a partner with a dedication to environmental sustainability, in our efforts to renovate our headquarters to achieve net zero energy goals,” said Christine McEntee, AGU’s Executive Director and CEO. “In undergoing this project and showcasing sustainability and environmental best practices to reduce our own footprint, we hope the project will provide a guide for other organizations, in Washington, D.C., and across the country, looking to reduce their energy needs and environmental impact.”
 
The renovated 62,000-square-foot headquarters building will include a collaborative, state-of-the-art conferences center and workspace for AGU members, the public, and staff. In addition, it will house an interactive public exhibit highlighting innovations in Earth and space science. The building is expected to reopen in time for the organization’s 51st annual Fall Meeting. The reopening will also serve as the unofficial kick-off for the AGU’s centennial celebration, which will take place in 2019. 
 
Dedicated to advancing the Earth and space sciences for the benefit of humanity through scholarly publications, conferences, and outreach programs, AGU is a not-for-profit, professional, scientific organization representing more than 60,000 members in 139 countries.
 
Capital One Financial Corporation (www.capitalone.com) is a financial holding company whose subsidiaries, which include Capital One, N.A., and Capital One Bank (USA), N.A., had $241.2 billion in deposits and $348.5 billion in total assets as of March 31, 2017. Headquartered in McLean, Virginia, Capital One offers a broad spectrum of financial products and services to consumers, small businesses and commercial clients through a variety of channels. Capital One, N.A. has branches located primarily in New York, Louisiana, Texas, Maryland, Virginia, New Jersey and the District of Columbia. A Fortune 500 company, Capital One trades on the New York Stock Exchange under the symbol “COF” and is included in the S&P 100 index.
Gordon Brothers
Taking the Pulse of Private Debt
By Eileen Wubbe
Predictions for 2017
Industry leaders discuss the current state of the private debt
market, what to expect in 2017 and going forward, the outlook
for restructurings and thoughts on a possible shakeout.

 

Independent Finance & Factoring Roundtable
TSL INDUSTRY HEADLINES
Parsley Energy Increases Credit Facility to $1.4 Billion
Parsley Energy, Inc. (NYSE: PE) ("Parsley" or the "Company") announced that the Company amended its revolving credit agreement, thereby increasing the borrowing base by 60% to $1.4 billion, with a Company-elected commitment amount of $1.0 billion. READ MORE

Mackinac Partners Welcomes Senior Turnaround and Restructuring Executive John Bittner
Bittner, based in Dallas, joins the firm as senior managing director and will lead Mackinac Partners’ Southwest Restructuring Practice. READ MORE
 
CLICK HERE FOR EVENTS
 
CLICK HERE FOR EDUCATION
 
John Copeland Joins BancorpSouth as Chief Financial Officer
Copeland has more than 35 years of executive management experience with regional financial institutions in all aspects of accounting, financial reporting, investor relations, asset/liability management, mergers and acquisitions, and budgeting. READ MORE
Cathay Bank Announces the Appointment of Dale Wilson as Senior Vice President and Manager, Oil and Gas Group
Wilson brings over 35 years of experience in both the oil and gas industry and energy banking, primarily with global financial institutions. READ MORE
Hope Bancorp Appoints David P. Malone Senior Executive Vice President & Chief Operating Officer of Bank of Hope
Hope Bancorp, Inc., the holding company of Bank of Hope (the Bank), announced the appointment of David P. Malone as senior executive vice president and chief operating officer of its wholly owned subsidiary Bank of Hope, effective May 15, 2017. READ MORE
The Bon-Ton Stores, Inc. Announces Closing of Extension of $730 Million ABL Tranche A Credit Facility
The Bon-Ton Stores, Inc. (NASDAQ:BONT) announced that it has successfully completed the closing of an extension of its $730 million ABL Tranche A credit facility in advance of its December 2018 maturity date.  The Tranche A revolving facility is now due to mature in April 2022. READ MORE
TowneBank Expands North Carolina Presence Through the Acquisition of Paragon Commercial Corporation and Paragon Commercial Bank
Hampton Roads based TowneBank  (NASDAQ:TOWN) and Raleigh based Paragon Commercial Corporation, the parent company of Paragon Commercial Bank (“Paragon”) (NASDAQ:PBNC), today announced the signing of a definitive merger agreement pursuant to which TowneBank will acquire Paragon creating a $9.7 billion community bank. READ MORE
Freshfields Makes Major New York Play With Three-partner Bankruptcy Hire From US Firm
Freshfields Bruckhaus Deringer has announced the appointment of a three-partner bankruptcy team from Arnold & Porter Kaye Scholer, with the team joining the firm's New York office. READ MORE
 
CFA'S CAREER CENTER
Company: Heritage Global Valuations
Title: Director of Sales
Location: Nationwide

 
Company: Heritage Global Valuations
Title: M&E Appraiser 
Location: Nationwide

 
Company: Citi
Title: Business Manager
Location: Stamford, CT

 
INDUSTRY MOVES
Arthur J. Gallagher & Co. Hires Chris Mead as its Chief Marketing Officer
Arthur J. Gallagher & Co. (NYSE: AJG) announced that Christopher E. Mead has joined the company as its new chief marketing officer. In this role, Mead will be responsible for leading the company's global marketing and communications efforts, reporting directly to Chairman, president and chief executive officer J. Patrick Gallagher, Jr.

"Our company has undergone tremendous growth in recent years, doubling in size over the last six years," said Gallagher. "Chris's extensive global marketing leadership expertise and skill set will be tremendous assets as we continue to expand our global footprint and deliver additional solutions and services for our clients' evolving business needs. We are very excited to welcome him to our senior leadership team."

Mead comes to Gallagher from the CME Group, the world's largest futures exchange. As CME's managing director - Marketing, he helped shape the company's global strategic direction and was responsible for the development of global marketing strategies, planning and implementation activities.

Prior to that, he served as vice president of corporate marketing, Advertising and Business Communications for Chicago-based CNA Financial Group, an insurance holding company.

In addition, Mead has held various marketing leadership positions within marketing/advertising agencies serving clients in the sports entertainment, restaurant, retail and healthcare industries. He earned his MBA from Northwestern University's Kellogg Graduate School of Management in Evanston, Illinois, and is a graduate of Keene State College in Keene, New Hampshire.

Arthur J. Gallagher & Co., an international insurance brokerage and risk management services firm, is headquartered in Rolling Meadows, Illinois, with operations in 33 countries and client service capabilities in more than 150 countries around the world through a network of correspondent brokers and consultants.

COMPANY NEWS
Maxim Commercial Capital Closed Nearly 300 Financings in 1Q 2017
Maxim Commercial Capital announced that it funded nearly 300 transactions for small business owners in the first quarter of 2017.  The financings enabled business owners across a wide-range of industries to acquire equipment, fund working capital, and refinance debt. Maxim provides financing in amounts up to $2,500,000, secured by equipment and real estate, to small and mid-sized businesses located nationally.

“Small businesses were the engine behind 66% of all U.S. job growth since 1970, as reported by the Small Business Administration, yet the Federal Reserve’s 2016 Small Business Credit Survey indicated that 61% of small business owners face financial challenges,” said Michael Kianmahd, vice president at Maxim. “Maxim’s programs are designed to alleviate common financing challenges, providing the essential capital small business owners need to grow and thrive in today’s economy.”

Examples of transactions Maxim closed in 1Q 2017 include the refinancing of an orthodontist practice, replacing expensive credit card debt and working capital loans with a term loan secured by dental equipment and second liens on real estate. The borrower’s cash flow had been consumed by debt service to seven creditors and his credit score was ruined.  Maxim’s solution reduced his overall monthly loan payment and eliminated the stress of managing payments to numerous creditors.

In another example, a fire containment contractor utilized Maxim’s Application Only program to finance the purchase of a used water truck. The borrower had a 50% down payment, but his poor credit score severely limited his ability to obtain traditional financing for the acquisition.  Maxim funded the deal quickly based on the collateral value of the truck.

As a national leader in transportation equipment finance, Maxim consistently finances up to 75% of the purchase price for owner-operators acquiring used class 8 trucks and reefer trailers. During the first quarter of 2017, Maxim provided proposals as quickly as within two hours of application submission, and funded borrowers as quickly as within two days. 

Maxim Commercial Capital helps small and mid-sized business owners seize opportunity by providing financing in amounts up to $2,500,000 secured by equipment and real estate.  We facilitate equipment purchases, provide working capital, and refinance debt for companies across all industries located nationwide.  Through our tailored financing programs, businesses unlock capital tied up in underleveraged assets, often replacing expensive credit card debt and daily working capital loans with longer term growth capital. As a leading provider of transportation equipment finance, we fund up to 75% of the acquisition cost of class 8 trucks and reefer trailers for owner-operators (higher limits for special circumstances).  www.maximcc.com 

NOMINATIONS ARE NOW OPEN
CFA is Looking for the
Best and Brightest in the Industry
 
Why Back-Office Lending Automation Enhances Customer Satisfaction
By Alan Wooldridge 
 
Every bank strives to keep its customers happy.
 
Of course, some institutions are better at achieving this goal than others. Competitive lending rates, reward programs, and customer appreciation events are just a few initiatives that banks employ to keep people coming back.
 
However, banks are often surprised to learn that back-office lending operations can make a significant impact on customer satisfaction.
 
In this post, we’ll explore three ways that back-office lending automation can make a positive impact on your lending relationships.
 
The Secured Lender's April issue
is now available!

Click here to begin reading.
 
The Secured Lender's April issue
SUBMITTING NEWS TO TSL EXPRESS
Email your press releases, company news, and deal announcements to: tslexpress@cfa.com.

  

 


e-news updates from the commercial finance association

Don't be left out! The Commercial Finance Association publishes a daily email called TSL Express which provides industry deals and breaking news vital to the asset-based financial services and factoring industries. Your organization is encouraged to contribute industry news to this electronic medium. Please email your contributions and subscription requests to tslexpress@cfa.com

SUBSCRIBE TO OUR DAILY NEWSLETTER