- Market Sizing & Impact Study
- Rosenthal Capital Group Closes Two Purchase Order Financing Transactions Totaling $5 Million
- Origis Energy Closes $290 Million Financing for Swift Air Solar II and III Projects with Natixis CIB and Santander
- Xponential Fitness, Inc. Announces Debt Refinancing, New Credit Facilities
- Gordon Brothers Supports Advance Auto Parts with Non-Core Surplus Property Disposition Services
TSL Express Daily Articles & News
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CohnReznick Hires Two Senior Leaders for Expanding Value360 Practice
CohnReznick LLP, one of the leading advisory, assurance, and tax firms in the United States, today announced that Virginia Schnippel, Principal, Valuation Advisory Services, and Aaron Kolko, Managing Director, Transaction Advisory Services, have joined the firm’s rapidly expanding Value360 practice. Value360 offers a full spectrum of advisory services to businesses at key points throughout their life cycle.
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The new Company Stabilisation and Restructuring Act (StaRUG for short) entered into force on January 1, 2021. It is based on a European directive on the introduction of a pre-insolvency restructuring procedure, which was adopted in June 2019.
The intention is to facilitate early restructuring of companies and in any case before insolvency occurs. The idea is to avoid the disadvantages of insolvency - a possible loss of reputation and high costs for the affected company, disruption to trade and to safeguard employment.
TSL Express Daily Headlines & News
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TTM Announces Closing of New Term Loan Facility and New U.S. ABL Facility
May 30, 2023The New Term Loan Facility was entered into with J.P. Morgan acting as administrative agent and joint lead arranger. Other joint lead arrangers for the New Term Loan Facility were BofA Securities, Inc., Barclays Bank PLC, Truist Securities, Inc. and HSBC Securities (USA) Inc. The New U.S. ABL Facility was entered into with J.P. Morgan acting as administrative agent.
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Iron Horse Credit Provides a $1 Million Inventory Line of Credit to a Georgia-based Marble and Granite Slab Distributor
May 30, 2023Iron Horse Credit (“IHC”), a leading inventory lender, is pleased to announce the closing of a $1,000,000 stand-alone inventory revolving line of credit to a Georgia based Marble and Granite Slab Distributor.
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Genesis Electronics Group Announces Execution of Credit Facility with 40 Brightwater
May 30, 2023Genesis Electronics Group, Inc. (GEGI), the maker of the autonomous road-to-rail patent-pending shipping technology, Glīd, announced that it has executed loan agreements for a credit facility with 40 Brightwater, LLC, to borrow up to $750,000.
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RecNation Announces the Largest Dedicated Debt Facility for RV & Boat Storage in the Country
May 30, 2023The facility which was led by Truist Securities was expanded and upsized to include seven additional banks including: Goldman Sachs, Morgan Stanley, RBC Bank, Raymond James, Key Bank, TBK Bank as well as Citizens Bank.
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WesBanco Bank Appoints David Klick as Upper Ohio Valley Market President
May 30, 2023WesBanco, Inc. (Nasdaq: WSBC), a diversified, multi-state bank holding company, announces that its affiliate, WesBanco Bank, has promoted David Klick to the role of Upper Ohio Valley (UOV) Market President and Senior Commercial Banker.
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FuelCell Energy Secures $87MM in Project Financing
May 30, 2023The multi-bank term facility includes Investec Bank plc as Coordinating Lead Arranger and Sole Bookrunner, Bank of Montreal as Mandated Lead Arranger, together with Liberty Bank as Depositary Agent and Lender along with Connecticut Green Bank and Amalgamated Bank as lenders.
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Sabre Corporation Announces Commitment of a $665 Million Private Financing and Cash Tender Offers by Sabre GLBL Inc. for Existing Secured Debt
May 30, 2023Sabre GLBL Inc. ("Sabre GLBL"), a wholly-owned subsidiary of Sabre, has entered into a commitment letter with lenders (together, the "Lenders") led by affiliates of Centerbridge Partners, L.P. for a $665 million new senior secured credit facility (the "New Facility") to Sabre Financial Borrower, LLC (the "Borrower"), a newly created wholly-owned subsidiary of Sabre GLBL.
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River City Bank Adds Former Umpqua Regional Director Rebecca Fabisch Miller as EVP, Commercial Banking Director
May 30, 2023River City Bank has announced Rebecca Fabisch Miller as Executive Vice President, Commercial Banking Director. In this role, Fabisch Miller will focus on providing services to the Bank’s middle-market commercial clients. She will lead the Bank’s commercial banking team in expanding and enhancing RCB’s commercial deposit and lending presence throughout California.
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SFNet Successful In Getting Carve Out for ABL and Factoring in Connecticut
May 30, 2023The Connecticut senate adopted an amended financial disclosure bill, which applies now only to sales-based financing, and the bill will now be referred to the Appropriations Committee.
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Apollo Announces Executive Leadership Hires for Cadma Capital Partners
May 30, 2023Apollo (NYSE: APO) today announced that the recently established Cadma Capital Partners (“Cadma”) has named Jon Beizer and Josh Brody as its CEO and President, respectively. Cadma is a credit financing platform for the venture ecosystem, providing asset-backed financing to venture- and growth-lenders, high-growth companies and financial sponsors, and is backed by Apollo-affiliated entities.
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Horizon Technology Finance Provides $30 Million Venture Loan Facility to SafelyYou
May 30, 2023Horizon Technology Finance Corporation (NASDAQ: HRZN) ("Horizon"), a leading specialty finance company that provides capital in the form of secured loans to venture capital backed companies in the technology, life science, healthcare information and services, and sustainability industries, announced today it has provided a $30 million venture loan facility to SafelyYou, Inc. ("SafelyYou"), of which $10 million has been initially funded.
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Turnspire Capital Partners Announces Team Additions
May 25, 2023Turnspire Capital Partners, LLC (“Turnspire”), a New York-based private equity firm focused on complex situations in the middle market, announced several recent additions to its team. These exceptional individuals bring a tremendous amount of expertise to Turnspire’s Investment and Finance teams
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Fifth Third Bank Names Stephanie Green as South Florida President
May 25, 2023Fifth Third Bank, National Association, has announced Stephanie Green as South Florida region president. As region president, Green is responsible for the growth and strategic direction of the Bank’s commercial, wealth and asset management, business banking and treasury management businesses.
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Brightwood Capital Announces the Appointment of Eric Pratt as Chief Credit Officer
May 25, 2023Brightwood Capital Advisors (“Brightwood” or the “Firm”), a middle market private credit firm, announced the appointment of Eric Pratt as Chief Credit Officer. In this role, Mr. Pratt will oversee Brightwood's existing portfolio, as well as play an important role in the Firm's analysis of new investments.
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Franklin Capital Completes a $1 Million Factoring Facility for a UK Headquartered Construction Consultant
May 25, 2023Franklin Capital is pleased to announce the completion of a $1,000,000 factoring facility for a UK headquartered construction consultant. A UK-based construction consultant was working with Branta, a corporate finance advisory practice, to grow their US operations.
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Medical Properties Trust Announces Prospect Recapitalization Transactions
May 25, 2023Prospect’s $250 million asset-backed revolving credit facility has been repaid in full and as a result, the unencumbered borrowing base of government and commercial insurance accounts receivable will provide first lien security for the previously announced MPT delayed draw term loan of up to $75 million. Prospect is expected to be substantially free of material debt or lease obligations outside of those to MPT and this new third-party financing.
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Wyndham Hotels & Resorts Announces Successful Completion of Refinancing Transaction
May 25, 2023Deutsche Bank Securities Inc., JPMorgan Chase Bank, N.A. and BofA Securities, Inc. acted as joint lead arrangers for the New Term Loan B. Barclays Bank PLC, U.S. Bank National Association, Wells Fargo Bank, National Association and Wells Fargo Securities, LLC, The Bank of Nova Scotia, Truist Securities, Inc., and PJT Partners LP acted as joint bookrunners.
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Horizon Technology Finance Strengthens Capital Resources and Increases Capacity of Credit Facility to $250 Million
May 25, 2023Horizon Technology Finance Corporation (NASDAQ: HRZN) ("Horizon" or the "Company"), a leading specialty finance company that provides capital in the form of secured loans to venture capital backed companies in the technology, life science, healthcare information and services, and sustainability industries, today announced that Horizon Secured Loan Fund I LLC, Horizon's wholly-owned subsidiary ("HSLF"), has amended its senior secured debt facility with a large U.S. based insurance company.
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Physicians Realty Trust Announces $400 Million Five-Year Term Loan
May 25, 2023A total of seven lenders are participating in the Term Loan. KeyBank National Association is acting as the Administrative Agent and a lender. BMO Harris Bank N.A. and Regions Bank are serving as Joint Lead Arrangers and lenders. Bank of America, N.A. and Credit Agricole Corporate and Investment Bank are serving as Documentation Agents and lenders. Raymond James Bank and Associated Bank, N.A. are participating as lenders.
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QualTek to Strengthen Financial Position and Drive Long-Term Growth Through Consensual Financial Restructuring
May 25, 2023-QualTek Services Inc. (NASDAQ: QTEK) (the “Company” or “QualTek”), a leading infrastructure services provider, today announced a restructuring transaction that will position it to achieve long-term success in the telecom, renewables, and recovery logistics sectors. The restructuring transaction reduces the Company’s debt by approximately $307 million and provides $40 million of additional liquidity, substantially improving the Company’s balance sheet and financial position.
The Secured Lender
SFNet's The 81st Annual Convention Issue
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