- KKR Launches Equipment Finance Platform Akrapoint Commercial Capital
- Hallador Secures Up to $675 Million Debt Financing for Turtle Creek Gas
- J D Factors Provides $5,575,000 in new Factoring Facilities in August
- Market Sizing Study
- TowerNorth Secures Additional Growth Capital and Expanded Debt Facility to Support Continued Growth
TSL Express Daily Articles & News
To submit company news and press releases to TSL Express, email tslexpress@sfnet.com.Today's Top Story
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Trinseo Announces Completion of Transaction to Refinance $660 Million 2024 Term Loan and $385 Million of 2025 Senior Notes
Trinseo (“Trinseo” or “the Company”) (NYSE: TSE), a specialty material solutions provider, today announced that it has obtained $1.077 billion in aggregate principal amount of secured term loan financing (“New Term Loan Facility”) arranged by Angelo, Gordon & Co., L.P. (“Angelo Gordon”) and Oaktree Capital Management, L.P. (“Oaktree”), with funds managed by Angelo Gordon, Oaktree and Apollo Global Management, Inc. (“Apollo”) as lenders.
TSL Express Trending Story
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TSL Express’ senior editor sat down with Tim Burniston, senior advisor, Regulatory Strategy for Wolters Kluwer Compliance Solutions to discuss the results of Wolters Kluwer’s Regulatory & Risk Management Indicator Survey. Burniston advises the Wolters Kluwer Governance, Risk, and Compliance executive leadership team and clients on emerging issues, legislative and regulatory developments, and regulatory strategy.
Now in its tenth year, the Indicator “takes the pulse” of the U.S. banking industry and is based on 10 different factors: compliance, regulatory environmental and risk management factors. The Regulatory & Risk Management Indicator Survey was conducted between July 27-September 9, 2022, and received 328 responses. Survey respondents are primarily from smaller banks, savings and loan institutions and credit unions. Keeping pace with the volume, scope and breadth of regulatory changes topped the list of key concerns facing U.S. banks, credit unions, and other lenders. To learn more about the survey, click here.
TSL Express Daily Headlines & News
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Rising Costs from High Inflation and Interest Rates Contribute to a Continued Increase in Large Corporate Bankruptcy Filings through the First Half of 2024
October 2, 2024Large corporate bankruptcy filings continued to climb in the latter half of 2023 through the first half of 2024, according to a report released today by Cornerstone Research.
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David O'Hara Appointed Managing Director of MKP Advisors USA
October 2, 2024MKP Advisors (MKP), a leading global advisory firm, is pleased to announce that David O'Hara has joined the firm to drive the launch of its on-the-ground US operations. Having spent 16 years at Washington Analysis, where he built a strong following around both merger arbitrage and special situations investment strategies, David brings a wealth of knowledge translating complex policy into actionable investment ideas.
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Advantage Business Capital Provides $2.5MM Invoice Factoring Facility to Industrial Crafts Provider
October 2, 2024Advantage is proud to announce the funding of a $2.5MM invoice factoring facility for Houston, Texas area scaffolding, painting, welding, and machining business.
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Rosenthal Acquires Accord Equipment Finance, Further Expanding ABL Business, Capabilities and Solidifying Midwest Footprint
October 1, 2024Rosenthal & Rosenthal, Inc., the leading factoring, asset-based lending, purchase order financing and inventory financing firm in the United States, today announced the completion of a deal to acquire the assets of Accord Equipment Finance, the equipment leasing division of Accord Financial Corp. (TSX – ACD), the Toronto-based commercial finance company.
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Revlon Enters Into Senior Secured Asset-Based Credit Facility Led by MUFG
October 1, 2024n September 30, 2024, Revlon Intermediate Holdings III (“Revlon”) and certain of its subsidiaries entered into a five-year senior secured asset-based credit agreement (the “Credit Agreement”) with Mitsubishi UFJ Financial Group (“MUFG”), as administrative agent, and the lenders party thereto.
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J D Factors Provides $9,875,000 in New Factoring Facilities in September
October 1, 2024J D Factors provided $9,875,000 in new factoring facilities to 40 new clients in the US and Canada during the month of September. Some of these facilities include: A $700,000 factoring facility for a transportation company in Ohio. A $500,000 factoring facility for an oil & gas company in Pennsylvania
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nFusion Provides $25 Million ABL Facility for Construction Management Company
October 1, 2024Headquartered in the Midwestern United States, this construction management company provides engineering and construction services to numerous Fortune 100 clients in the steel, refining, power generation, natural gas, chemical, automotive, food processing, and pharmaceutical industries. The Company has steadily grown since its founding over 30 years ago.
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Second Avenue Capital Partners and Ares Management Provide Gabe’s with New $175,000,000 Credit Facility
October 1, 2024Second Avenue Capital Partners (“SACP”), a Schottenstein affiliate, is pleased to announce the closing of a $175,000,000 Senior Secured Revolving Line of Credit for Gabe’s, a leading off-price retailer operating in the mid-Atlantic and Southeast US. The new credit facility, which was provided by SACP and Ares Management Credit funds (“Ares”), will be used to support Gabe’s ongoing growth initiatives, enhance operational flexibility, and strengthen the company’s capital structure.
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Monroe Capital Supports Relevate Health Group’s Acquisition of Level Ex Games Pharma and Life Sciences Division
October 1, 2024Monroe Capital LLC (“Monroe”) announced it acted as sole lead arranger and administrative agent on the funding of a senior credit facility to support the acquisition of the Level Ex Games (“Level Ex”) pharma and life sciences division by Relevate Health Group (“Relevate”), an existing portfolio company of Mountaingate Capital.
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Crown Partners Serves as Exclusive Financial Advisor on $175 Million Senior Debt Recapitalization
October 1, 2024Crown Partners announced that it served as exclusive financial advisor to a sponsor-backed distributor of a wide range of home services products (the “Company”). In connection with this mandate, Crown arranged a new $75 million ABL revolver for the Company with Siena Lending Group, and restructured an existing $100 million term loan from the Company’s cash flow term lender.
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Sallyport Commercial Finance Provides Canadian Logistics Leader With $3M in Growth Finance
October 1, 2024Sallyport Commercial Finance is proud to announce the successful funding of $3,000,000 in accounts receivable financing to a leading Albertan logistics and freight company serving the oilfield services industry. The client required the funds to support its daily working capital needs, facilitating continued growth and operational scalability.
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Beacon Pointe Advisors Bridges New Opportunities Through Further Acquisitions
October 1, 2024Beacon Pointe Advisors ("Beacon Pointe") unveils its latest acquisitions of Bridge Advisory with offices in Pasadena, CA, and Newport Beach, CA, and Charleston Investment Advisors in Mt. Pleasant, SC. Bridge Advisory currently oversees approximately $460M and Charleston Investment Advisors manages $140M in client assets, bringing Beacon Pointe's total assets under advisement to just shy of $37B, resulting in four total RIA transactions in 2024 thus far.
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Byline Bancorp, Inc. and First Security Bancorp, Inc. Announce Definitive Merger Agreement
October 1, 2024yline Bancorp, Inc. (“Byline”) (NYSE: BY), and First Security Bancorp, Inc. (“First Security Bancorp”) today jointly announced that they have entered into a definitive merger agreement pursuant to which First Security Bancorp and its wholly owned subsidiary, First Security Trust and Savings Bank (“First Security”), will combine with Byline Bancorp, Inc. in a cash and stock transaction valued at approximately $41.0 million based upon Byline’s closing stock price as of September 27, 2024.
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Dean Dulchinos Joins ORIX USA as Head of Real Estate Credit
October 1, 2024ORIX Corporation USA (ORIX USA) announced today the appointment of Dean Dulchinos as Managing Director and Head of Real Estate Credit. Mr. Dulchinos is based in New York and reports to Jeff Abrams, Group Head of Private Credit and Real Estate and Member, Executive Committee.
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Mizuho and Golub Capital Announce Strategic Partnership
October 1, 2024Mizuho Financial Group, Inc. (together with its affiliates, “Mizuho”) and Golub Capital LLC (together with its affiliates, “Golub Capital”) today announced a strategic partnership.
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Team, Inc. Announces Amendment and Maturity Extension of Its ABL Credit Facility
October 1, 2024Team, Inc. (NYSE: TISI) (“TEAM” or the “Company”), a global, leading provider of specialty industrial services offering clients access to a full suite of conventional, specialized, and proprietary mechanical, heat-treating, and inspection services, announced today that it has executed an amendment to its existing ABL credit facility, which consists of a $130 million revolving credit facility (the “Revolver”) and a $27.4 million term loan secured by certain real estate and machinery and equipment.
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Alkegen Announces New Capital Infusion to Support Growth
October 1, 2024Alkegen, a global specialty materials platform providing high performance materials used in advanced applications and a portfolio company of Clearlake Capital Group, L.P. (together with its affiliates, "Clearlake"), today announced the closing of a refinancing transaction of its outstanding debt.
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Casella Waste Systems, Inc. Announces Closing of $1.5 Billion Amended and Restated Credit Facility
October 1, 2024Casella Waste Systems, Inc. (Nasdaq: CWST), a regional solid waste, recycling, and resource management services company, today announced that it has entered into a $1.5 billion amended and restated credit agreement with Bank of America, N.A. as administrative agent and lender and a syndicate of other lenders (the “Credit Facility”).
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Salute Announces Investment from New Mountain Capital to Support Data Center Growth Trajectory
October 1, 2024Salute Holdings, LLC (“Salute” or the “Company”), a leading provider of integrated asset management services for the data center industry, today announced it has received a majority investment from funds managed by New Mountain Capital, LLC (“New Mountain”), a leading growth-oriented alternative investment firm headquartered in New York.
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Wayfair Announces Proposed Offering of $700 Million Senior Secured Notes
September 30, 2024Wayfair Inc. (NYSE: W) (the "Company," "we" or "Wayfair") today announced that its subsidiary, Wayfair LLC (the "Issuer"), intends to offer, subject to market and other conditions, $700 million in aggregate principal amount of senior secured notes due 2029 (the "Notes") in a private offering.
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