- Northcliff Announces C$7.349 Million Loan Funding
- SSG Advises Tonopah Solar Energy LLC in the Sale of Substantially All Assets to Sons of Liberty Construction Inc.
- SouthStar Capital Closes Accounts Receivable Financing Facility for Aerospace & Defense Government Contractor
- First Citizens Bank Appoints Stacie Bales Barton and Sharon Thompson to Lead Growth Across Central U.S.
- Monroe Capital Supports Summit Restoration Group’s Acquisitions of Capital Construction Services and Capital Fire & Water
TSL Express Daily Articles & News
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Rosenthal Closes Multiple Factoring Transactions
Rosenthal & Rosenthal, Inc., the leading factoring, asset-based lending, purchase order financing, d2c and e-commerce inventory financing firm in the United States, today announced the completion of several factoring transactions that will help to address working capital needs, mitigate risk and support growth opportunities for clients across multiple sectors.
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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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CIBC Innovation Banking Bolsters North American Team
July 5, 2023CIBC Innovation Banking is pleased to announce that its North American team is growing, with team members joining in New York and San Francisco.
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TradeCap Partners Extends Minority, Women Owned Startup $700,000 Purchase Order Finance Facility
July 5, 2023TradeCap Partners recently extended a $700,000 purchase order finance facility to a minority, women owned startup apparel brand. Having started her brand with a D2C online presence only, the founder landed her first big opportunity with a large retailer.
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COMPASS Pathways Secures Term Loan Facility for Up to $50 Million from Hercules Capital
July 5, 2023COMPASS Pathways plc (Nasdaq: CMPS), a biotechnology company dedicated to accelerating patient access to evidence-based innovation in mental health, today announced that the Company has entered into a term loan agreement with Hercules Capital, Inc. (NYSE: HTGC) for up to $50 million.
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Dave & Buster's Entertainment Amends Credit Agreement; Enhances Loan Facility To $900M
July 5, 2023Dave & Buster's Entertainment Inc (NASDAQ:PLAY) said it amended its credit agreement, achieving favorable pricing and upsizing the Term Loan B facility to $900 million.
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CVC Credit Raises Its Third CLO Equity Vehicle
July 5, 2023CVC Credit, the $41 billion global credit management business of CVC, is pleased to announce the final close of CVC CLO Equity III at its hard cap with $800 million of commitments. Across its period of deployment, this equity fund is intended to support over $10 billion of global CLO issuance for CVC Credit’s Performing Credit platform.
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Latham & Watkins Advises Monitronics International on Uncontested Chapter 11 Plan Confirmation
July 5, 2023Monitronics International, Inc. (Monitronics or the Company), one of the largest smart home security and alarm monitoring companies in North America, received confirmation by the United States Bankruptcy Court for the Southern District of Texas of the Company’s partially prepackaged Plan of Reorganization (the Plan) following an uncontested hearing on June 26, 2023. Monitronics emerged from chapter 11 on June 30, 2023.
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Byline Bancorp, Inc. Completes the Merger with Inland Bancorp, Inc.
July 5, 2023-Byline Bancorp, Inc. (“Byline”) (NYSE: BY), the parent company of Byline Bank, announced today that it has completed its merger with Inland Bancorp, Inc. (“Inland Bancorp”) and its wholly owned bank subsidiary, Inland Bank and Trust. As a result of the transaction, effective July 1, 2023, Inland Bank and Trust merged with and into Byline Bank.
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QualTek’s Plan of Reorganization Confirmed
July 5, 2023Kirkland & Ellis LLP and Jackson Walker LLP are serving as legal counsel, Jefferies is serving as investment banker, and Alvarez & Marsal is serving as financial advisor to the Company. The Company has retained C Street Advisory Group to serve as the strategy and communications advisor.
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Most North American Sectors Retain Deteriorating Outlook
July 5, 2023Nearly three quarters of North American sectors maintain a deteriorating outlook for 2023, reflecting Fitch Ratings’ expectation for weaker core credit drivers relative to 2022. Inflation, rising rates, and tightening lending conditions remain key considerations for North American sector outlooks.
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PeerStreet Files for Chapter 11 Bankruptcy Protection
July 5, 2023Peer Street, Inc. and its affiliated companies (“PeerStreet”) announced that on Monday, June 26, 2023, they filed for protection under chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware.
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PKF Clear Thinking’s Joseph Marchese Appointed Chief Restructuring Officer of The Rockport Company, LLC
July 5, 2023PKF Clear Thinking, the award-winning business advisory firm and subsidiary of PKF O’Connor Davies, one of the nation’s largest accounting, tax and advisory practices, today announced that Joseph Marchese has been appointed Chief Restructuring Officer of The Rockport Company, LLC, as the global footwear brand begins voluntary proceedings under Chapter 11 of the United States Bankruptcy Code in the District of Delaware.
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Commercial Chapter 11 Filings Increased 68 Percent in the First Half of 2023
July 5, 2023The 2,973 total commercial Chapter 11 bankruptcies filed during the first six months of 2023 represented a 68 percent increase over the 1,766 filed during the same period in 2022, according to data provided by Epiq Bankruptcy, the leading provider of U.S. bankruptcy filing data. Individual Chapter 13 filings increased by 23 percent during the same period.
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Monster Enters into Asset Purchase Agreement with Vital Pharmaceuticals
July 5, 2023Evercore Group LLC is acting as investment banker and Pachulski Stang Ziehl & Jones LLP and Akerman LLP are acting as legal counsel to Monster. Huron Consulting Group is acting as financial advisor, Rothschild & Co is acting as investment banker, and Latham & Watkins LLP and Berger Singerman LLP are acting as legal counsel to Bang Energy. C Street Advisory Group is acting as strategy and communications advisor to Bang Energy.
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Epsilon Announces New Senior Secured Reserve-Based Revolving Credit Facility
July 5, 2023Epsilon Energy Ltd. (“Epsilon” or the “Company”) (NASDAQ: EPSN) today reported the closing of a new senior secured reserve-based revolving credit facility (the “Credit Facility”) with Frost Bank as the issuing bank and sole lender. The new Credit Facility will replace the Company’s previous credit facility.
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Integra Asset Solutions Expands Revenue Growth Strategy with Addition of Linda Budz, Esquire, as Vice President of Business Development Integra Asset Solutions
July 5, 2023Integra Asset Solutions, LLC, a leading asset valuation and liquidation company, is pleased to announce the appointment of Linda Budz, Esq., as Vice President of Business Development. With a diverse background in litigation, as well as an impressive track record capturing new business and driving growth in the commercial finance industry, Budz brings a wealth of expertise and strategic vision to Integra.
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Trinity Capital Inc. Expands East Coast Presence with Appointment of Andrew Ghannam as Managing Director
July 5, 2023Trinity Capital Inc. (NASDAQ: TRIN) ("Trinity" or the "Company"), a leading provider of diversified financial solutions to growth-stage companies, today announced the strategic expansion of its origination team with the appointment of Andrew Ghannam as Managing Director of Tech Lending, based in New York.
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Tattooed Chef Intends to file for Voluntary Chapter 11 Bankruptcy Protection and Pursue a Sale of Assets Under Section 363 of the U.S. Bankruptcy Code
July 5, 2023Tattooed Chef, Inc. (Nasdaq: TTCF) (“Tattooed Chef” or the “Company”), a leader in plant-based foods, announced today that it intends to file for protection under Chapter 11 of the U.S. Bankruptcy Code (“Bankruptcy Code”) in the United States Bankruptcy Court for the Central District of California (“Bankruptcy Court”) and intends to pursue a sale of substantially all of its assets under Section 363 of the Bankruptcy Code.
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Stratus Financial Secures $30 Million Credit Facility to Fund More Pilots
July 5, 2023Stratus Financial, a leading provider of aviation financing solutions, successfully closed a new credit facility for $30 million. This credit facility is aimed at increasing the funding capacity for students pursuing their aviation dreams. With this new facility, Stratus Financial will be able to work faster, smarter, and better in the industry, helping more pilots than any other lending facility in the flight training industry.
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Orrön Energy Secures a MEUR 150 Revolving Credit Facility
July 5, 2023The secured multi-currency revolving credit facility has a three-year maturity, with two subsequent one-year extension options. The floating interest rate margin is less than 2 percent above EURIBOR1. The credit facility also includes an additional MEUR 150 accordion option, adding increased capacity to finance future growth.
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TerrAscend Announces $37 Million Paydown of Senior Secured Term Loan in Pennsylvania
July 5, 2023TerrAscend Corp. ("TerrAscend" or the "Company") (CSE: TER) (OTCQX: TRSSF), a leading North American cannabis operator, today announced that its subsidiary, WDB Holding PA, Inc., has completed the paydown of $37 million of its senior secured term loan in Pennsylvania (the “Loan”), which bears a fixed interest rate of 12.875%.
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