- SLR Credit Solutions Agents Term Loan for The Children’s Place
- Justin Rutledge Joins First Horizon Bank as Charlotte Market President
- Eagle Point Closes $30 Million Financing with Circular Services
- Monroe Capital Supports Growth of Recognize Partners’ SDG Corporation
- HyperAMS Announces Enterprise Coated Products Inc. Acquired by Loparex, a Strategic Private-Equity-Owned Company
TSL Express Daily Articles & News
To submit company news and press releases toTSL Express, email tslexpress@sfnet.com.
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White Oak Deploys over $1 Billion in Lending Activity In First Half of 2022
White Oak Global Advisors, LLC, (“WOGA” or “the firm”), a global alternative asset manager providing flexible and secure funding to help businesses grow, today announced that the firm, together with its financing affiliates (collectively “White Oak”), provided over $1 billion in loans across all platforms between January 1 and June 30, 2022. The total dollar amount accounts for the combined value of 45 separate transactions to middle and small middle market businesses across a wide array of industries, representing a highly diversified deal flow.
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Part III: Confronting the Banking Dilemma for State-Licensed Marijuana Businesses in the United States
This article analyzes the conflict between federal and state marijuana laws, and its impact on the inability of state-legal marijuana businesses to obtain traditional and fundamental types of banking services from federally insured banks. The article is divided into three parts: (i) an explanation of the conflict of state and federal marijuana laws; (ii) the effect of the conflicting laws on the decision of banking institutions to provide services to state-licensed marijuana businesses; and (iii) congressional and judicial attempts to resolve the conflict between state and federal marijuana laws.
TSL Express Daily Headlines & News
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Provident Bank Survey: Small to Medium-sized Businesses Believe Recession is Likely in 2023
January 3, 2023Think an economic downturn is on its way? According to results released Tuesday from Provident Bank‘s 2023 Economic Outlook Survey, 67% of small to medium-sized business owners agree with you, thinking a recession is likely. The survey polled 1,000 small to medium-sized business owners and executives and explored predictions for 2023’s economic outlook in addition to measuring respondents’ thoughts on the likelihood of a looming recession and the effects inflation and rising interest rates had on their organizations in 2022.
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US Capital Expands London Office with Appointment of Managing Director Prodi Bhattacharya
January 3, 2023US Capital is pleased to announce that Prodi Bhattacharya, Ph.D., has joined the group as a Managing Director at US Capital’s regional headquarters in London, established in 2020. Dr. Bhattacharya brings over 23 years’ experience in banking, corporate finance, and asset management to US Capital. Before joining US Capital, he was Director of Corporate Finance at the IQEQ Group, where he was responsible for the private market CrossDeal activity within the group.
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GoldenTree Announces Closing of $487 Million CLO Under GLM Strategy
January 3, 2023GoldenTree Loan Management II (“GLM II”) and its affiliated investment manager GoldenTree Asset Management LP (along with other affiliated investment managers “GoldenTree”), announced the closing of a $487 million collateralized loan obligation (“CLO”) to be managed by GLM II. With the closing of this CLO, GoldenTree Loan Management US CLO 16 (“GLM US CLO 16”), GoldenTree has issued 21 CLOs totaling over $12 billion under its GLM CLO strategy.
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Akulaku Announces $200 Million Investment from MUFG
January 3, 2023Akulaku ("the Company"), a leading banking and digital finance platform in Southeast Asia, today announced a $200 million investment from Japanese megabank Mitsubishi UFJ Financial Group (MUFG). The investment provides additional support for Akulaku's projected growth as it advances towards its mission of providing banking services across Southeast Asia with an emphasis on reaching underserved customers and markets.
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XS Financial Closes Upsized $39 Million Credit Line With Needham Bank
January 3, 2023XS Financial Inc. ("XS Financial", "XSF" or the "Company") (CSE:XSF)(OTCQB:XSHLF), a specialty finance company providing CAPEX and equipment financing solutions to cannabis companies in the United States, announced today that it has entered into an upsized $39 million line of credit ("Credit Facility") with Needham Bank increasing its commitment from $20 million to $35 million and remaining as the administrative agent. The remaining $4 million is with an FDIC-insured bank participating in the Credit Facility. All figures are in US Dollars.
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Knight Therapeutics Closes US$38.5 Million Loan with IFC
January 3, 2023Knight Therapeutics Inc., (TSX: GUD) (“Knight”) a pan-American (ex-USA) specialty pharmaceutical company, today announced that it has closed a five-year, US$38.5 million secured loan denominated in select Latin American currencies with the International Finance Corporation (“IFC”), a member of the World Bank Group focused on the private sector in emerging markets.
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VICI Properties Inc. to Provide Mezzanine Financing for Fontainebleau Las Vegas
January 3, 2023-VICI Properties Inc. (NYSE: VICI) (“VICI Properties” or “VICI”), an experiential real estate investment trust, announced today that VICI has agreed to provide up to $350 million in mezzanine loan financing to a partnership between Fontainebleau Development, LLC (“Fontainebleau Development”), a builder, owner, and operator of luxury hospitality, commercial and retail properties, and Koch Real Estate Investments, the real estate investment arm of Koch Industries, to complete the construction of Fontainebleau Las Vegas, a 67-story hotel, gaming, meeting, and entertainment destination coming to the north end of the Las Vegas Strip.
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NFI Completes Amendments to its Credit Facilities
January 3, 2023The Bank of Nova Scotia is the Administrative Agent for the Revolver, and The Bank of Nova Scotia, BMO Capital Markets, and National Bank Financial Inc. are the Joint Bookrunners. The Revolver syndicate also includes The Canadian Imperial Bank of Commerce; Bank of America, Canada Branch; Wells Fargo Bank, N.A., Canadian Branch; The Toronto Dominion Bank; HSBC Bank Canada; MUFG Bank Ltd., Canada Branch; Export Development Canada and ICICI Bank Canada. For the UK Facility, HSBC UK acts as Administrative Agent and HSBC UK and the Bank of America, Canada Branch are the two co-lenders and Mandated Lead Arrangers.
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Tikehau Capital Successfully Completed Its First Collateralized Fund Obligation For $300m
January 3, 2023Tikehau Capital (Paris:TKO) today announces that it has successfully completed an inaugural Collateralized Fund Obligation (CFO) for an amount of $300m. The CFO’s assets consist of interests in private debt funds that were mainly held on Tikehau Capital’s balance sheet. They notably include exposure to the firm’s flagship Direct Lending strategy and to its innovative Private Debt Secondaries strategy.
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National Funding CEO David Gilbert Recognized as One of San Diego’s 2022 Most Influential People
January 3, 2023National Funding, one of the largest U.S. specialty finance companies serving small- and medium-sized businesses, is pleased to announce that the San Diego Business Journal recognized CEO and Founder David Gilbert in the finance section of its annual edition of the SD 500 - The Most Influential People in San Diego.
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Moritt Hock & Hamroff Announces 2023 Attorney Promotions
January 3, 2023Moritt Hock & Hamroff has announced that Vincent Balardi, Brian Boland, Michael Calcagni, Jacquelyn Moran, Christine Price and Kelly Schneid have been elevated to Partner, and that Lauren Bernstein, Alex Litt, Caitlyn Ryan and Jodi Zimmerman have been elevated to Counsel, effective January 1, 2023.
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Primergy Solar Secures up to $200M Revolving Credit Facility from Rabobank
January 3, 2023Primergy Solar, LLC (‘Primergy’), a leading developer, owner and operator of utility-scale solar, distributed solar and energy storage, announced the closing with Rabobank of a $75 million revolving credit facility with the option to increase up to $200 million. The facility will be used to support a growing development pipeline of solar and solar+storage projects across the U.S.
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Bruce Jackson Is Named Head of the Santander US Auto Business and CEO of Santander Consumer
January 3, 2023Santander Holdings USA, Inc. (“Santander” and “Santander US”) today announced that, effective March 2023, Bruce Jackson will assume the role of head of the Santander US Auto business and CEO of Santander Consumer USA Inc. (“Santander Consumer”), reporting to Santander US CEO, Tim Wennes. Jackson succeeds Mahesh Aditya who is taking on the role of Banco Santander’s Group Chief Risk officer in Madrid, subject to customary regulatory approvals.
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SMBC Nikko Securities Americas Hires Langworthy
January 3, 2023SMBC Nikko Securities Americas, a New York-based member of SMBC Group, has appointed Ted Langworthy as executive director and head of the equity finance team. Langworthy has a vast amount of experience in securities lending and equity financing spanning two decades.
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Noble Corporation plc Completes Refinancing of Syndicated Bank Term Loan
January 3, 2023Noble Corporation plc ("Noble") (CSE: NOBLE, NYSE: NE) today announced that it has closed a new $350 million secured term loan with a syndicate of banks. The new loan has a three-year maturity and an initial interest rate of Term SOFR plus 3.50%, with margin increases beginning in year two.
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Guess?, Inc. Announces Expanded $150 Million North American Credit Facility With Sustainability-Linked Component
January 3, 2023Guess?, Inc. (NYSE:GES) today announced that it has expanded its access to capital in North America. The Company has entered into a $150 million senior secured asset-based revolving credit facility with a term of five years. This facility amends and extends its existing $120 million North American credit facility. The amended facility has an option to further expand its total amount by up to $150 million, subject to certain conditions.
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Stifel Acquires Healthcare M&A Firm Torreya
January 3, 2023Stifel Financial is deepening its investment in healthcare with the purchase of Torreya Partners. The investment banking company announced the acquisition of Torreya, a merger and acquisition and private capital advisory firm in the life sciences sector, in a news release Thursday (Dec. 22). Founded in 2007, Torreya specializes in life sciences, including biotechnology and pharmaceuticals.
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Brightwood Capital Prices $426 Million Middle Market CLO
January 3, 2023Brightwood Capital Advisors, LLC, a private credit firm, today announced it has priced Brightwood Capital MM CLO 2020-1, Ltd. Reset, a $426 million collateralized loan obligation. This CLO represents the fourth CLO issued by the firm since 2019. The vehicle is backed by loans the firm has originated for Brightwood Capital Fund IV and is intended to provide that fund with non-recourse financing.
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Siena Lending Group Provides Over 300,000 Meals to Food Pantries and Soup Kitchens
January 3, 2023In the spirit of giving and sharing, Siena Lending Group has started off the year by donating to food pantries and soup kitchens across the country on behalf of its employees and clients. Siena Lending Group is proud that this financial support will provide over 300,000 meals to individuals and families who are food insecure.
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Celtic Capital Corporation Announces Funding for a California-based Manufacturer of Precision machined Products
January 3, 2023Celtic Capital Corporation today announced its most recent new client relationship – a California-based manufacturer of precision machined products using metal alloys and plastics for industrial and commercial applications.
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