Credit

Qumu Secures $10 Million Revolving Credit Facility, Providing Additional Financial Flexibility to Execute SaaS Growth Strategy

Communications, Security, Technology, VoIP, Audio, Video, Telecommunications, Other Communications, Finance, Money, Economy, Credit, Qumu Corporation, Cloud computing, NASDAQ, Line of credit, Revolving credit, Bank
Tuesday, January 19, 2021 - 2:15pm

Qumu Corporation (Nasdaq: QUMU), a leading provider of cloud-based enterprise video technology for organizations of all sizes, has closed a $10 million revolving credit facility with Wells Fargo Bank, NA.

Key Points: 
  • Qumu Corporation (Nasdaq: QUMU), a leading provider of cloud-based enterprise video technology for organizations of all sizes, has closed a $10 million revolving credit facility with Wells Fargo Bank, NA.
  • The revolving credit facility availability is determined by recurring revenue, and has a maturity date of January 15, 2023.
  • This new credit facility enhances our financial flexibility, further supporting our ability to prudently invest in growth opportunities and manage working capital, said Dave Ristow, Qumu Chief Financial Officer.
  • These benefits are important as we continue to execute our long-term strategic roadmap to position Qumu as a cloud-first organization and drive sustainable growth and high-margin, SaaS recurring revenues.

FUNDINGO Announces Loan Servicing Solution for Small Construction Lenders

Loans, Credit, Financial law, Student loans in the United States, Syndicated loan
Tuesday, January 19, 2021 - 2:00pm

LOS ANGELES, Jan. 19, 2021 /PRNewswire/ --FUNDINGO has announced a new version of its loan management software built specifically for small construction lenders.

Key Points: 
  • LOS ANGELES, Jan. 19, 2021 /PRNewswire/ --FUNDINGO has announced a new version of its loan management software built specifically for small construction lenders.
  • Unlike servicing loans manually with paper, emails, and spreadsheets, the FUNDINGO system makes it easy for lenders to adjust payments, disbursements, draws, accruals, fees and other loan terms to suit the needs of their borrowers.
  • "Our team has leveraged its expertise to deliver a system that meets the specialized needs of small construction lenders," said Henry Abeneim, CEO of FUNDINGO.
  • FUNDINGO is a loan management solution designed specifically for alternative lenders.

Synalloy Signs New Revolving Credit Facility

Chemicals, Plastics, Other Manufacturing, Manufacturing, Steel, Finance, Credit, Economy, Personal finance, Revolving credit, BMO Harris Bank, Line of credit
Tuesday, January 19, 2021 - 1:00pm

Synalloy Corporation (NASDAQ:SYNL) (Synalloy or the Company) today announced that it has entered into a new, four-year revolving credit facility that provides up to $150 million of borrowing capacity.

Key Points: 
  • Synalloy Corporation (NASDAQ:SYNL) (Synalloy or the Company) today announced that it has entered into a new, four-year revolving credit facility that provides up to $150 million of borrowing capacity.
  • The new facility matures on January 15, 2025 and replaces and terminates the previous $100 million revolving facility that was scheduled to mature on December 21, 2021 and the $20 million term loan facility scheduled to mature on February 1, 2024.
  • The new facility was provided by BMO Harris Bank, N.A.
  • For more information about Synalloy Corporation, please visit our website at www.synalloy.com .

AM Best Comments on Credit Ratings of Hallmark Financial Services, Inc. and Its Subsidiaries Following Leadership Change Announcement

Banking, Professional services, Insurance, Finance, Credit rating agencies, Credit, Credit rating, Rating, AM Best
Monday, January 18, 2021 - 1:43pm

Concurrently, the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term ICRs of a- of the members of Hallmark Insurance Group (Hallmark Group) also remain unchanged.

Key Points: 
  • Concurrently, the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term ICRs of a- of the members of Hallmark Insurance Group (Hallmark Group) also remain unchanged.
  • The outlook of these Credit Ratings (ratings) remains negative.
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Bests Credit Ratings .
  • For information on the proper media use of Bests Credit Ratings and AM Best press releases, please view Guide for Media - Proper Use of Bests Credit Ratings and AM Best Rating Action Press Releases .

Titan Mining Extends Credit Facility Maturity Dates

Finance, Money, Economy, Personal finance, Debt, Line of credit, Scotiabank, Revolving credit, Credit, Titan
Monday, January 18, 2021 - 12:00pm

VANCOUVER, British Columbia, Jan. 18, 2021 (GLOBE NEWSWIRE) -- Titan Mining Corporation (TSX:TI) (Titan or the Company) announces it has extended the maturity dates of its credit facilities with each of the Bank of Nova Scotia and a company controlled by Titans Executive Chairman (the Lender).

Key Points: 
  • VANCOUVER, British Columbia, Jan. 18, 2021 (GLOBE NEWSWIRE) -- Titan Mining Corporation (TSX:TI) (Titan or the Company) announces it has extended the maturity dates of its credit facilities with each of the Bank of Nova Scotia and a company controlled by Titans Executive Chairman (the Lender).
  • The maturity date of the Company's senior secured revolving credit facility with a limit of US$10,000,000 with the Bank of Nova Scotia has been extended from April 3, 2021 to April 3, 2022.
  • The maturity date of the Companys second ranking secured credit facility of US$20,710,000 with the Lender has been extended from November 30, 2021 to April 5, 2022.
  • Don Taylor, CEO commented I am pleased we were able to extend the maturity of these credit facilities providing more flexibility to our capital structure.

Monroe Capital Corporation Prices Offering of $130 Million 4.75% Notes Due 2026

Finance, Credit, Banking, Private credit
Friday, January 15, 2021 - 9:40pm

CHICAGO, Jan. 15, 2021 (GLOBE NEWSWIRE) -- Monroe Capital Corporation (the Company) (NASDAQ: MRCC) announced today that it priced a public offering of $130 million aggregate principal amount of 4.75% notes due 2026 (the Notes) on January 15, 2021.

Key Points: 
  • CHICAGO, Jan. 15, 2021 (GLOBE NEWSWIRE) -- Monroe Capital Corporation (the Company) (NASDAQ: MRCC) announced today that it priced a public offering of $130 million aggregate principal amount of 4.75% notes due 2026 (the Notes) on January 15, 2021.
  • The closing of the transaction is subject to customary closing conditions and the Notes are expected to be delivered on or about January 25, 2021.
  • As of January 12, 2021, the Company had $114.9 million in outstanding indebtedness under its credit facility.
  • Monroe Capital LLC (Monroe) is a private credit asset management firm specializing in direct lending and opportunistic private credit investing.

AM Best Comments on Credit Ratings of ProSight Specialty Group Members Following Acquisition Announcement

Insurance, Professional services, Finance, Credit rating agencies, Actuarial science, Credit, Economy, AM Best, Tewksbury Township, New Jersey, Credit rating, Underwriting
Friday, January 15, 2021 - 9:52pm

TowerBrook will acquire a majority of ProSight Global and Further Global will hold a minority stake in the company.

Key Points: 
  • TowerBrook will acquire a majority of ProSight Global and Further Global will hold a minority stake in the company.
  • Based on the ADC/LPT agreement, AM Best anticipates that the transaction will initially reduce ProSight Specialty Groups underwriting leverage.
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Bests Credit Ratings .
  • For information on the proper media use of Bests Credit Ratings and AM Best press releases, please view Guide for Media - Proper Use of Bests Credit Ratings and AM Best Rating Action Press Releases .

Media Central Announces Debt Conversion

Financial law, Credit, Debt
Friday, January 15, 2021 - 7:57pm

Toronto, Ontario--(Newsfile Corp. - January 15, 2021) - Media Central Capital Corporation (the "Corporation") is pleased to announce that it has negotiated various debt conversion agreements (collectively, the "Debt Agreements") with five (5) creditors (collectively, the "Creditors") of which four (4) are arm's length parties to the Corporation and one (1) is a non-arm's length party as he is a director and/or officer of the Corporation.

Key Points: 
  • Toronto, Ontario--(Newsfile Corp. - January 15, 2021) - Media Central Capital Corporation (the "Corporation") is pleased to announce that it has negotiated various debt conversion agreements (collectively, the "Debt Agreements") with five (5) creditors (collectively, the "Creditors") of which four (4) are arm's length parties to the Corporation and one (1) is a non-arm's length party as he is a director and/or officer of the Corporation.
  • Pursuant to the terms of the Debt Agreements, the Corporation has agreed to issue an aggregate of 22,500,000 common shares ("Debt Shares") to the Creditors in exchange for the cancellation of 225,000 in debt owing to the parties.
  • The Debt Shares issued pursuant to the debt conversion are subject to a statutory four (4) month hold period.
  • About Media Central Corporation Inc.
    Media Central Corporation Inc. is an alternative media company situated to acquire and develop high-quality publishing assets starting with the recent acquisition of Vancouver Free Press Corp., the purchase of NOW Communications Inc. and the launch of digital cannabis platform CannCentral.com and ESports outlet ECentralSports.com .

United Kingdom Non-Prime Consumer Credit Market Report 2020-2021 with Profiles of 40 Lenders

Money, Finance, Economy, Loans, Credit, Notary, Interest rate, Mortgage broker, Credit agreements in South Africa
Friday, January 15, 2021 - 3:00pm

DUBLIN, Jan. 15, 2021 /PRNewswire/ -- The "UK Non-Prime Consumer Credit: Market Insight Report 2021" report has been added to ResearchAndMarkets.com's offering.

Key Points: 
  • DUBLIN, Jan. 15, 2021 /PRNewswire/ -- The "UK Non-Prime Consumer Credit: Market Insight Report 2021" report has been added to ResearchAndMarkets.com's offering.
  • Review of the non-prime, or high-interest, consumer credit market.
  • It describes the market for consumer credit agreements with average fixed interest rates over 30% per year, and profiles the main lenders involved in it.
  • A set of 40 lender profiles of those active in the sector, covering financial performance, ownership, loan products offered, market positioning, corporate activity and history of the lender.

Blocplay Announces Settlement of Debt

Money, Finance, Economy, Financial law, Bankruptcy, Stock market, Credit, Debt, Settlement, Security
Thursday, January 14, 2021 - 11:00pm

Toronto, Ontario--(Newsfile Corp. - January 14, 2021) - Blocplay Entertainment Inc. (CSE: PLAY) (the "Company") is pleased to announce it has settled an aggregate of $127,125 of indebtedness to a non-arm's length creditor of the Company through the issuance of 1,155,682 common shares in the capital of the Company (the "Common Shares") at a price of $0.11 per Common Share (the "Debt Settlement").

Key Points: 
  • Toronto, Ontario--(Newsfile Corp. - January 14, 2021) - Blocplay Entertainment Inc. (CSE: PLAY) (the "Company") is pleased to announce it has settled an aggregate of $127,125 of indebtedness to a non-arm's length creditor of the Company through the issuance of 1,155,682 common shares in the capital of the Company (the "Common Shares") at a price of $0.11 per Common Share (the "Debt Settlement").
  • The Common Shares issued pursuant to the debt settlement are subject to a four-month hold period and completion of the transaction remains subject to final acceptance of the Canadian Securities Exchange.
  • The Debt Settlement constituted a "related party transaction" as defined in Multilateral Instrument 61-101 - Protection of Minority Securityholders in Special Transactions ("MI 61-101"), as a insider of the Company acquired 1,155,682 Common Shares.
  • The Company did not file a material change report in respect of the related party transaction at least 21 days before the closing of the Debt Settlement, which the Company deems reasonable.