- Phoenix Capital Group Launches on the XEN Platform, Transforming Speed of New Client Acquisition
- Trinity Capital Inc. Provides $30 Million in Growth Capital to Iantrek to Accelerate Commercial Expansion and Advance Product Pipeline
- Bachem Secures Financing of Strategic Growth Initiatives
- Encina Private Credit Provides a $30 Million First Out Commitment to a Manufacturing Company Backed by a Sponsor in a Minority Equity Position
- Aegis Business Credit Closes $2.5 Million Revolving Line of Credit for a Southeast US-based Staffing Company
TSL Express Daily Articles & News
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DataBank Secures $350 Million Credit Facility to Finance Ongoing Expansion
DataBank, a leading provider of enterprise-class edge colocation, interconnection, and managed cloud services, announced today that it has secured another $350M in financing to fund the ongoing expansion of its edge data center footprint. Led by TD Securities, the $350 million credit facility includes a $175 million, 5-year Term Loan, a $125 million Delayed Draw Term Loan ("DDTL") which is undrawn at close, and a $50 million revolving credit line.
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Eileen Kowalski is SVP and manager of Training, Development, Quality Control, Recruiting and Diversity & Inclusion for PNC Business Credit.
Kowalski is a 30-plus year veteran of commercial finance and asset-based lending. She is integral to PNCBC’s Field Exam training program and to the team tasked with developing talent for PNCBC. Eileen joined PNCBC in 2004 as an AVP & Senior Field Examiner after serving as a Field Examiner for a predecessor bank of M&T Bank and an AVP & Senior Field Examiner with LaSalle Bank. Eileen’s responsibilities also include field exam quality control, campus and experienced hire recruiting activities and she serves as editor-in-chief for the quarterly PNCBC employee newsletter. She chairs the Business Credit D&I Committee and is a member of the C&IB/AMG DEI Council. Eileen is a member of the SFNet Education Committee, the SFNet DEI Committee and is the SFNet Education Champion for PNCBC. She is also a member of the quarterly WISF Newsletter committee.
TSL Express Daily Headlines & News
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NGL Closes $2.9 Billion Debt Refinancing Transactions and Amends and Extends Asset-Based Revolving Credit Facility
February 5, 2024NGL Energy Partners LP (NYSE: NGL) (“NGL”) through its wholly owned subsidiaries NGL Energy Operating LLC and NGL Energy Finance Corp., closed $2.9 billion of refinancing transactions, consisting of their previously announced $2.2 billion senior secured notes offering of $900 million in aggregate principal amount of 8.125% senior secured notes due 2029 and $1.3 billion in aggregate principal amount of 8.375% senior secured notes due 2032, and a seven-year $700.0 million senior secured term loan facility.
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eCapital Appoints Rob Wright as Chief Product Officer to Drive Fintech Vision
February 5, 2024eCapital Corp, a leading finance provider across North America and the United Kingdom, today announced the appointment of Rob Wright as chief product officer. Wright will refine eCapital’s technology vision and product roadmap to strengthen customer experience and accelerate company growth.
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White Oak Deploys Over $1 Billion in 2023 Amidst Record ABL Volume
February 5, 2024White Oak Global Advisors, LLC (“WOGA”), a global alternative asset manager that provides senior bank lending products to middle market companies announced that, along with its Financing Affiliates (collectively “White Oak”), it deployed $1.1 billion in capital in 2023.
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Lafayette Square Provides Financing to Support Growth of Best Friends Pet Care
February 5, 2024Lafayette Square, a national investment platform, announced today that it has provided debt financing to support the acquisition-focused growth strategy of Best Friends Pet Care ("Best Friends"). Best Friends Pet Care is one of the largest pet service providers in the United States, offering boarding, grooming, training, and doggy day camp.
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Auxly Completes Amendment and Extension of Auxly Leamington Credit Facility
February 5, 2024Auxly Cannabis Group Inc. (TSX: XLY) (OTCQB: CBWTF) ("Auxly" or the "Company"), a leading consumer packaged goods company in the cannabis products market, today announced that it has signed a definitive agreement (the "Amendment Agreement") to amend and restate the credit facility (the "Credit Facility") between its wholly-owned subsidiary Auxly Leamington Inc. and a syndicate of lenders, led by the Bank of Montreal as administrative agent.
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U.S. Bank Index: Truck Freight Market Ends 2023 With Double-Digit Drops in Volume, Spending
February 5, 2024Fourth quarter shipments down 15.7% compared to same period a year earlier, while spending by shippers dropped 13.5%
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Comvest Partners Expands Direct Lending Platform Senior Team with Hire of David Gibson as Managing Director
February 5, 2024Comvest Partners (“Comvest”), an operationally focused middle-market private investment firm, is pleased to announce that David Gibson has joined the firm as a Managing Director. Mr. Gibson is responsible for originating, structuring and managing debt investments for Comvest Credit Partners, Comvest’s direct lending investment platform. He is based in the firm’s Chicago office.
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Huntington Business Credit Provides $200 Million in New Credit Facilities for Daedong-USA, Inc.
February 1, 2024Huntington Business Credit, acting as lead arranger and administrative agent, announced it closed $200,000,000 new credit facilities with Daedong-USA, Inc., on December 20, 2023. Proceeds of the facility were used to refinance existing debt and provide ongoing working capital financing.
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Clarivate Completes Refinancing of Term Loan and Revolver Extension
February 1, 2024Clarivate Plc (NYSE: CLVT) (the "Company" or "Clarivate"), a global leader in connecting people and organizations to intelligence they can trust to transform their world, announced today that it has successfully completed the refinancing of its term loan B credit facility and the extension of the maturity date of its revolving credit facility.
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Tradecycle Capital Delivers a New Accounts Payable Finance Facility For a Top Automotive Industry Supplier
February 1, 2024Tradecycle Capital, an Indianapolis-based trade finance provider, announced it funded a new $2,500,000 revolving accounts payable funding facility for a tier one automotive industry supplier with a focus on exterior features whose clients include Ford, Toyota and GM.
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A&G Accepting Offers for Below-Market Industrial Lease in Sacramento
February 1, 2024A&G Real Estate Partners, in its capacity as real estate advisor to Rite Aid Corporation (“Rite Aid” or the “Company”), today announced that it is now accepting offers for the sale and assignment of a flexible, below-market lease for a large warehouse and distribution center in Sacramento, pending approval by the U.S. Bankruptcy Court for the District of New Jersey.
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LSQ Creates $3MM AR Finance Facility for Auto Parts Manufacturer
February 1, 2024LSQ, a leading provider of working capital and payments management solutions, recently originated a $3 million account receivable credit facility for a Georgia-based auto parts manufacturer.
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CohnReznick Elects 24 Professionals to Partner/Principal
February 1, 2024CohnReznick LLP, one of the leading advisory, assurance, and tax firms in the United States, today announced that it has elected 24 professionals to its partnership, effective February 1, 2024. The newly elected partners bring expertise across advisory, assurance, and tax and play integral roles in our industry groups, driving the firm’s world-class client service.
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Gordon Brothers Supports Kirkland’s Strategic Repositioning with $12M Term Loan
February 1, 2024Gordon Brothers, the global asset experts, is supporting Kirkland’s Inc.’s strategic repositioning efforts with a $12 million first-in last-out delayed draw term loan. When drawn, the U.S. home décor and furnishings retailer operating under the Kirkland’s Home brand will use the loan to provide additional liquidity for ongoing working capital needs.
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Trinity Capital Inc. Provides $15 Million Venture Debt Facility to Kafene
February 1, 2024Trinity Capital Inc. (NASDAQ: TRIN) ("Trinity"), a leading provider of diversified financial solutions to growth-stage companies, today announced the commitment of $15 million in growth capital to Kafene, a point-of-sale platform that helps retailers offer underserved consumers more flexible purchase options through transparent lease-to-own (LTO) agreements.
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Barnes & Thornburg Adds Commercial Finance Team Led By Partners Rick Boyd And Tyler Wolf
February 1, 2024Barnes & Thornburg announced today that a commercial finance team led by partners Rick Boyd and Tyler Wolf has joined the firm’s Corporate Department. Team members include Doug Plante, of counsel, Greg Preston, an associate, and Janelle Julyan, a senior paralegal.
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Another Successful Exit - Flatbay Capital’s CRE Loan Provides Liquidity to Help American Battery Solutions Bridge Into a Komatsu Acquisition
February 1, 2024In January 2023, American Battery Solutions (ABS), a Michigan-based company that specializes in the development of lithium-ion battery systems for electric vehicles, sought alternative financing solutions to address their capital requirements. The company, which started operations back in 2019, had successfully diversified its product line to include offerings for commercial, light, and marine electric vehicles. In order to finance their manufacturing plant, they turned to Flatbay Capital.
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Golub Capital Leads $2.11 Billion Unitranche Facility for Aptean
January 31, 2024Golub Capital acted as Administrative Agent and Sole Lead Arranger on a $2.11 billion unitranche facility to refinance Aptean’s existing first lien and second lien broadly syndicated loan facilities. Aptean is a leading global provider of mission critical, vertical-market-focused enterprise resource planning software primarily for small and medium sized manufacturing businesses.
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Webster Financial Corporation Announces Executive Changes, Effective as of February 1, 2024
January 31, 2024On January 24, 2024, Webster Financial Corporation appointed Luis Massiani, currently President and Chief Operating Officer of Webster Bank, N.A., as the Company?s President and Chief Operating Officer, effective as of February 1, 2024, to serve in such capacity until his successor is duly appointed, or his earlier termination, resignation, death or removal from office.
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Stellus Capital Management, LLC Provides Unitranche Financing in Support of Clearview Capital’s Investment in AdCellerant LLC.
January 31, 2024Stellus Capital Management, LLC (“Stellus”) announced today that its affiliates participated in providing senior debt financing and an equity co-investment in support of Clearview Capital’s (“Clearview”) investment in AdCellerant (“AdCellerant” or the “Company”), a provider of outsourced digital marketing software and services.
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