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- TSL Feature Articles
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- Rosenthal Capital Group Closes Three Transactions Totaling $5 Million
TSL Express Daily Articles & News
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Neiman Marcus Group Announces Amendment and Extension of its ABL Credit Facility
Neiman Marcus Group announced that on October 27, 2023 it entered into a Fourth Amendment (the "Amendment") to the Credit Agreement governing the Company's $900M asset-based lending facility (the "ABL Facility"), led by Bank of America, N.A. as Administrative Agent and Collateral Agent, which amends the Company's existing Credit Agreement, dated as of September 25, 2020 (as amended, the "Credit Agreement").
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SFNet Wins Safe Harbor Fight in California
Last Tuesday, the California Assembly Judiciary Committee voted in favor of a measure that will amend the CA SB 1235 disclosure law to provide an explicit safe harbor protecting asset-based lenders and factors who provide a good faith estimate of APR in compliance with the regulations from any liability should that estimate differ from the actual APR. The measure now moves to a vote in the Assembly and is expected to be signed by the governor by mid-July. This was a critically important concession given the fundamental challenges SFNet has contended exist in using APR as a basis of comparison for secured finance products.
TSL Express Daily Headlines & News
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Eclipse Business Capital Provides $20MM ABL Credit Facility to a Fiber Optic Components Manufacturer
October 14, 2024Eclipse Business Capital LLC (“EBC”) announced that it has provided a $20 million ABL credit facility to a fiber optic components manufacturer. The credit facility is secured by accounts receivable and inventory. The transaction will provide growth working capital as the Company continues to expand and establish itself as a trusted partner in its industry.
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Versant Funds $1.8 Million Non-Recourse Factoring Transaction to Administrator of Adolescent Group Homes
October 14, 2024Versant Funding LLC is pleased to announce it has funded a $1.8 Million non-recourse factoring transaction to a company which administers group homes for adolescents who are victims of neglect and abuse.
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Aon and the National Center for the Middle Market Reveal Growth Trends
October 14, 2024Aon plc NYSE: AON), a leading global professional services firm, and the National Center for the Middle Market (NCMM) today announced the results of a new study, Driving Growth: The Role of People, Risk, and Technology in Middle Market Success.
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Platinum Equity's Credit Team Leads New Term Loan For Relam
October 14, 2024Platinum Equity announced today it led a new and upsized Second-Lien Term Loan ("Term Loan") for Railway Equipment Leasing and Maintenance Inc. ("RELAM") to refinance the company's existing indebtedness and support future growth of the business.
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COVU Secures an Additional $12.5 Million in Series A Funding
October 14, 2024COVU, Inc., a leader in AI-native services for insurance agencies, today announced the successful completion of $12.5 million in equity and debt financing, as part of the first tranche of its Series A funding round. This brings total funding to date to over $20 million.
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Shore Capital Partners Closes on Almost $2 Billion Across Three Funds
October 14, 2024Shore Capital Partners (“Shore” or “the Firm”), a private equity firm focused on lower-middle market investments, today announced the closing of its inaugural Healthcare Advantage Fund (“Advantage Fund”), second Business Services Partners Fund (“Business Services Fund II”), and first Shore Search Partners Fund (“Search Fund”).
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FirstLight Fiber Raises $120 Million in Strategic Holdco Financing from Sixth Street and Palistar Capital
October 14, 2024FirstLight Fiber, the Northeast U.S.’s largest independent fiber bandwidth infrastructure provider with 25,000 fiber network route miles and more than 125,000 addressable locations, successfully raised $120 million in new strategic debt financing. This transaction is part of a global refinancing effort this year at FirstLight and follows the five-year senior secured infrastructure debt financing package the company announced in April 2024.
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Kramer Levin Formalizes Private Credit Practice, Serving Clients Seeking Creative Financing Strategies and Access to New Asset Classes
October 14, 2024Today, Kramer Levin announced that it formalized a multidisciplinary private credit practice, leveraging the firm’s depth of industry knowledge and extensive experience across the borrowing and lending community to continue providing clients with comprehensive support for an asset class that plays an indispensable role in today’s dynamic finance market.
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Trinity Capital Inc. Provides $40 Million in Growth Capital to Beam Benefits
October 14, 2024Trinity Capital Inc. (NASDAQ: TRIN) ("Trinity"), a leading provider of diversified financial solutions to growth-oriented companies, today announced the commitment of $40 million in growth capital to Beam Benefits ("Beam"), a digitally native employee benefits company.
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TAB Bank's $10 Million Loan Propels Mobility Trust Group’s Mission to Improve Accessibility for People with Disabilities
October 14, 2024TAB Bank has extended a $10 million revolving Asset-Based Loan (ABL) to Mobility Trust Group, a company specializing in financing mission-critical assistive technology products, including wheelchair-accessible vehicles and home accessibility equipment for people living with disabilities. The loan enables Mobility Trust to secure the liquidity needed for growth while continuing to focus on the needs of a vital and underserved community.
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Blue Owl Capital and Upstart Partner on Consumer Credit in $2 Billion Agreement
October 14, 2024Upstart (NASDAQ: UPST), the leading artificial intelligence (AI) lending marketplace, today announced a programmatic purchase commitment from funds managed by Blue Owl Capital Inc. (“Blue Owl”). Blue Owl’s Alternative Credit strategy will purchase up to $2 billion of consumer loans on the Upstart platform over 18 months. The transaction includes an initial acquisition of a $290 million personal loan portfolio, which closed in September.
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Middle-Market Deals Drive Rebound in Private Equity Exits
October 14, 2024Middle-market transactions are powering a rebound in exits as private equity-backed IPOs track for their best year since 2021. Buyout funds tallied 1,700 exits this year through end of the third quarter, a total 10% higher than the 1,530 exits through recorded in the same period a year ago, according to an S&P Global Market Intelligence analysis of Preqin data.
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Peapack-Gladstone Bank Hires Michael Anthony Guarino, Esq., CRCM as Senior Vice President
October 10, 2024Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC) and Peapack-Gladstone Bank are proud to announce that Michael Anthony Guarino, Esq. has joined the Bank as a Senior Vice President, Attorney.
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XP Factory Finalizes £10 Million Credit Line Agreement with Barclays
October 10, 2024XP Factory has secured a £10 million revolving credit facility with Barclays, reflecting the strength of its recent cash flow performance. The new facility is expected to enhance liquidity while supporting the company’s ongoing expansion and site development plans.
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Castlelake Announces Forward Flow Agreement with Alma to Purchase over €3 Billion of Consumer Loans
October 10, 2024Castlelake, L.P. ("Castlelake"), a global alternative investment manager specializing in asset-based private credit, today announced that it has entered into a forward flow agreement with Alma ("Alma"), a Buy-Now Pay-Later (BNPL) solution company in France, to purchase over €3 billion of short duration payment facilities originated online and in stores over a 2.5-year period.
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Third Coast Announces Debt Capital Financing
October 10, 2024Third Coast Super Holdings, LLC ("Third Coast") is pleased to announce that on September 25, 2024 its wholly-owned subsidiary, Third Coast Infrastructure, LLC, successfully raised $1.025 billion of debt capital financing, comprising a $925 million 6-year Term Loan B and $100 million 5-year Revolving Credit Facility.
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Georgia Banking Company, Inc. and Primary Bancshares Corporation Announce Merger Agreement
October 10, 2024Georgia Banking Company, Inc. ("GBC"), the parent company of Georgia Banking Company, and Primary Bancshares Corporation ("PBC"), the parent company of Georgia Primary Bank, jointly announced today the signing of a definitive agreement under which PBC will merge with and into GBC in a stock and cash transaction with an aggregate value of approximately $27 million.
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J.S. Held Launches Strategic Advisory Practice with Acquisition of Stapleton Group
October 10, 2024Global consulting firm J.S. Held, proudly celebrating 50 transformative years, acquires Stapleton Group and announces the creation of the Strategic Advisory practice under the leadership of Michael Jacoby, CTP. The Stapleton Group acquisition further strengthens J.S. Held’s restructuring capabilities, spanning bankruptcy, receiverships, turnarounds, ABCs, and other financial advisory services.
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Trillium Acquisition Corp. Announces Secured Loan Related to Business Combination Agreement
October 9, 2024Trillium Acquisition Corp. (TSXV: TCK.P) ("Trillium" or the "Company") announces pursuant to the business combination agreement entered into between the Company and Bankview 1827 Investment Corp., Capitol Hill 1426 Investment Corp., and Sunalta 1509 Development Corp. (collectively the "Vendors"), and affiliated entities, dated May 17, 2024 (the "Business Combination Agreement"), the Company intends to provide Bankview 1827 Investment Corp.
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EnWave Secures $5 Million Revolving Credit Facility with Desjardins for Growth and Working Capital Purposes
October 9, 2024EnWave Corporation (TSX-V:ENW | FSE:E4U) (“EnWave”, or the "Company") announced today that it has signed a revolving credit facility agreement (the “Credit Facility”) with Desjardins Tech & Innovation Banking of the Desjardins Group (“Desjardins”), the largest financial cooperative in North America. The amount available to the Company under the facility is calculated as the lesser of $5 million and a function of royalties, receivables and inventory.
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