- MidCap Financial Closes Senior Secured Credit Facility to Northridge Infrastructure Solutions
- MONTICELLOAM, LLC Welcomes Andrew Antognoli as Senior Relationship Manager
- Aegis Business Credit Closes $1.5 Million Revolving Line of Credit for HVAC Service Company
- Southstar Capital Announces $500,000 A/R Facility for Florida-Based Infrastructure Services Company
- FTAI Upsizes Revolving Credit Facility to Over $2 Billion
TSL Express Daily Articles & News
To submit company news and press releases toTSL Express, email tslexpress@sfnet.com.
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RelPro Promotes Rajmangal to President, Adds to C-Level Team
RelPro, the fast-growing business development and relationship management solution for Financial & Professional Services, today announced that Raaj Rajmangal has been appointed as President of RelPro. Rajmangal, who previously served as the company’s Chief Technology Officer, will now be responsible for RelPro’s strategic development and execution. RelPro CEO and Founder Martin Wise will continue as CEO to drive the corporate vision, working closely with RelPro’s clients and partners.
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Ikhwan Rafeek is a Member in the Otterbourg P.C.’s Banking and Finance Department.
Ikhwan represents institutional lenders, banks, commercial finance companies, and factors in connection with the documentation of domestic and international secured lending arrangements, including asset-based, term loan, healthcare, real estate, middle market, leveraged, and first and second lien loan transactions. Mr. Rafeek also frequently represents secured lenders in workouts and restructurings, and in portfolio acquisitions and dispositions.
TSL Express Daily Headlines & News
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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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Wolters Kluwer Survey Shows Preparedness Trending Upward for U.S. Corporate Transparency Act Compliance
January 31, 2024Small businesses, legal and compliance professionals are increasing their levels of readiness to comply with new U.S. beneficial ownership reporting requirements, according to the results of a new poll by Wolters Kluwer CT Corporation. The results reflect responses from more than 5,100 attendees and those surveyed during Wolters Kluwer’s January 23, 2024 beneficial ownership webinar.
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Cambridge Savings Bank Supports Acquisition of Melrose Affordable Housing Corporation’s New Property with Strategic Lending Package
January 31, 2024Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and over $6 billion in assets, today announced that it has provided the Melrose Affordable Housing Corporation (MAHC) with a 30-year, $500,000 commercial mortgage loan. The MAHC is a local nonprofit organization committed to establishing safe and affordable housing options for low- and moderate-income individuals who desire to live in Melrose.
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Tradewind Finance Continues Commitment to Financing Textile and Apparel Industry with Two New Credit Facilities
January 31, 2024In addressing the working capital requirements of doing business, Tradewind today announced funding for two new clients within the apparel and textile market, further extending its reach in the segment. Through the new client relationships, Tradewind continues to improve liquidity and enable trade for companies by converting their unpaid receivables into ready cash.
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Celtic Capital Provides Funding for a Fabricator of Metal Parts
January 31, 2024They approached us looking for financing to acquire the stock of this successful enterprise. Celtic Capital provided a $2,200,000 Accounts Receivable Line of Credit, a $500,000 Inventory Line of Credit and a $414,000 Equipment Loan to assist with the purchase.
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Second Avenue Capital Partners Supports Brixton with New $15 Million Credit Facility
January 31, 2024Schottenstein affiliate Second Avenue Capital Partners (SACP), a leading provider of asset-based loans and credit facilities, announced today it has closed on a new $15 million senior secured credit facility for Brixton, an omnichannel global lifestyle brand headquartered in Oceanside, California. The credit facility will be instrumental in optimizing Brixton’s working capital and fueling its continued growth in the competitive fashion industry.
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WELL Health USA Announces Successful Refinancing of US $300M Credit Facility with JPMorgan Chase Bank, N.A., Demonstrating a Healthy Balance Sheet and Substantial Room for Growth
January 31, 2024WELL Health Technologies Corp. (TSX: WELL) (OTCQX: WHTCF) ("WELL" or the "Company"), a digital healthcare company focused on positively impacting health outcomes by leveraging technology to empower healthcare practitioners and their patients globally, is pleased to announce it has closed the refinancing of a new credit facility for its subsidiary, WELL Health USA led by JPMorgan Chase Bank, N.A.
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Blue Bridge Financial Extends Senior Credit Facility with DZ BANK
January 31, 2024Blue Bridge Financial, Inc. ("Blue Bridge" or the "Company"), a leading independent commercial equipment finance company, announced the closing of a one-year extension of its $135 million revolving credit facility with DZ BANK.
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Akebia Secures $55 Million Term Loan Financing
January 31, 2024Akebia Therapeutics®, Inc. (Nasdaq: AKBA), a biopharmaceutical company with the purpose to better the lives of people impacted by kidney disease, today announced it has closed a loan facility with funds and accounts managed by BlackRock. The loan provides Akebia with up to $55.0 million of borrowing capacity available in three tranches.
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Dun & Bradstreet Announces Refinancing of Term Loan and Revolving Credit Facilities
January 31, 2024Dun & Bradstreet (NYSE:DNB), a leading global provider of business decisioning data and analytics, today announced that its wholly-owned subsidiary, The Dun & Bradstreet Corporation, has successfully refinanced its Term Loan and Revolving Credit facilities.
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Citizens Business Conditions Index™ Rises in Q4
January 31, 2024The national Citizens Business Conditions Index™ (CBCI) rose to 51.8 in the fourth quarter, supported by continued resilience in the labor market and consumer trends. The second consecutive quarterly reading above 50 indicates that the economy exited 2023 with momentum as signs of moderating inflation support optimism for a soft landing.
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Otterbourg Adds Ron Brody as Head of the Firm’s Leveraged Finance Practice
January 31, 2024Otterbourg P.C. is pleased to announce the arrival of Ron Brody as the head of the firm’s Leveraged Finance Practice Group. Mr. Brody is a nationally recognized high-yield securities lawyer with a broad range of corporate, transactional and finance experience. His clients include leading investment banks, private equity funds and public and private companies.
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Iron Horse Credit Provides a $2 Million Inventory Line of Credit to a Truck, Trailer, and Hitch Distributor
January 31, 2024Iron Horse Credit (“IHC”), a leading inventory lender, is pleased to announce the closing of a $2,00,000 RLOC to a truck, trailer, and hitch distributor. The company came to Iron Horse looking for first-time financing when the son was looking to buy out his father for retirement and bring suppliers current after the post pandemic slowdown.
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Lighthouse Provides $6,500,000 Credit Facility to an OH-Based Manufacturer of Precision Machined Components
January 30, 2024Lighthouse Financial Corp. is pleased to announce the completion of a $6,500,000 Credit Facility to an Ohio based manufacturer of precision machined components. The company's global expertise and capabilities in micro and high precision manufacturing has allowed it to uniquely serve a variety of high-technology markets including aerospace, diesel/off-road vehicles, fluid power, medical/dental devices, and more.
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Gordon Brothers Engaged to Sell Zulily Inventory & Fulfillment Center Assets
January 30, 2024Gordon Brothers, the global asset experts, has been engaged to sell by private treaty over $85 million of inventory and the assets of two 775,000-square-foot fulfillment centers on behalf of Zulily ABC LLC.
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United Capital Funding Issues $21.25MM in Total Credit facilities during Q4 2023
January 30, 2024United Capital Funding Group LLC, a Florida-based factoring firm completed 12 transactions totaling $21.25 million in accounts receivable financing in Q4 of 2023.
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Southern California Bancorp and California BanCorp Announce a Merger of Equals to Create a Premier California Business Bank
January 30, 2024Southern California Bancorp (NASDAQ: BCAL), the holding company for Bank of Southern California, N.A., and California BanCorp (NASDAQ: CALB), the holding company for California Bank of Commerce, jointly announce the execution of a definitive merger agreement, pursuant to which the companies will combine in an all-stock merger valued at approximately $233.6 million, or $26.54 per share of California BanCorp, based on the closing price of Southern California Bancorp on January 29, 2024.
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B. Riley Serves as Exclusive Financial Advisor to AdCellerant LLC in Connection with its Strategic Investment from Clearview Capital
January 30, 2024B. Riley Securities, Inc. ("B. Riley"), a leading middle market investment bank and subsidiary of B. Riley Financial, Inc. (Nasdaq: RILY), is pleased to have served as the exclusive financial advisor to AdCellerant LLC ("AdCellerant" or the "Company") in connection with its strategic investment from Clearview Capital, L.P. ("Clearview Capital").
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