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TSL Express Daily Articles & News

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Featured

Gordon Brothers Supports Plainville Farms’ Operations & Continued Growth with $12M Term Loan

Gordon Brothers, the global advisory, restructuring and investment firm, has provided Plainville Farms a $12 million term loan to support the organic and antibiotic-free turkey processor and distributor’s operations.

Plainville Farms will use the committed facility for working capital purposes and to support increased demand from customers.

TSL Express Trending Story



Featured

UK Law: What should Secured Lenders be Doing now to Prepare for the New Moratorium?

Richard Hawkins, Georgia Quenby and John Alderton provide an overview of the potential impacts of the New Moratorium and consider actions that Secured Lenders may wish to consider in preparation.

(Editor’s Note: SFNet will be hosting a Webinar on UK Insolvency Reform: What Secured Lenders Need to Know, which will include the authors and other experts on June 10 at 11 AM ET.)

TSL Express Daily Headlines & News

  • Brusgul Joins CohnReznick as Managing Director, ESG
    December 5, 2022
    CohnReznick LLP, one of the leading advisory, assurance, and tax firms in the United States, today announced that Jenny Brusgul has joined the firm’s rapidly growing Global Consulting Solutions practice as Managing Director and ESG Practice Leader. In this newly created role, Brusgul will help CohnReznick clients manage ESG risk and develop and implement ESG strategies that deliver value to their stakeholders.
  • Axiom Bank, N.A. Expands ABL Team In California
    December 5, 2022
    xiom Bank, N.A., a Maitland-based bank, has expanded its team with the hiring of Cheryl Hollingshead as Senior Vice President, Business Development Officer in its asset-based lending division headquartered in Dallas. ​ Hollingshead brings over 20 years of experience in asset-based lending and commercial finance. In this new role with Axiom Bank’s Commercial Finance division, she will oversee development of business in the Western United States.
  • SilverCrest Announces US$120 Million Debt Refinancing Package, Reduction of Overall Debt and Lower Cost of Capital
    December 2, 2022
    SilverCrest Metals Inc. ("SilverCrest" or the "Company") is pleased to announce that it has refinanced its US$120 million secured project financing facility, of which only US$90 million was drawn, with a new US$120 million senior secured credit facility (the "Credit Facility") through a syndicate of lenders comprised of The Bank of Nova Scotia (the "Administrative Agent") and Bank of Montreal.
  • Horizon Technology Finance Provides Venture Loan Facility to Groundspeed Analytics
    December 2, 2022
    Horizon 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 venture loan facility to Groundspeed Analytics, Inc. (“Groundspeed”).
  • NexBank Capital, Inc. Promotes Rhett Miller to Chief Banking Officer
    December 2, 2022
    Miller served as Chief Credit Officer since 2013 when he joined the company. In his new role, he will be responsible for the institutional and commercial banking divisions. Miller will retain oversight of the bank's credit related activities and continue to serve as a member of the Investment, Finance, Credit, and Enterprise Risk Management Committees.
  • Newtek Receives Approval From the OCC to Acquire National Bank of New York City
    December 2, 2022
    Upon the close of the Acquisition, NBNYC will be renamed Newtek BankTM, National Association (“Newtek Bank, N.A.”) and Newtek’s current portfolio companies Newtek Business Lending, LLC and Small Business Lending, LLC will be contributed to Newtek Bank, N.A.
  • Park Hotels & Resorts Inc. Completes Upsize of Revolving Credit Facility to $950 Million and Extends Maturity to 2026
    December 2, 2022
    The Company’s Credit Facility was jointly arranged by Wells Fargo Securities, LLC, BofA Securities, Inc., JPMorgan Chase Bank, N.A., PNC Capital Markets LLC, and Truist Securities, Inc., with Wells Fargo Bank, N.A. acting as Administrative Agent, Wells Fargo Securities, LLC, BofA Securities, Inc. and JPMorgan Chase Bank, N.A. acting as Joint Bookrunners, and Bank of America, N.A. and JPMorgan Chase Bank, N.A. acting as Co-Syndication Agents. PNC Bank, National Association, Truist Bank, Morgan Stanley Senior Funding, Inc. and Goldman Sachs Bank USA, served as Co-Documentation Agents.
  • New York Community Bancorp, Inc. Completes Acquisition of Flagstar Bancorp, Inc.
    December 2, 2022
    New York Community Bancorp, Inc. (NYSE: NYCB) (the "Company" or "NYCB") announced that its acquisition of Flagstar Bancorp, Inc. ("Flagstar" or "FBC") was completed earlier today, creating a regional banking franchise ranking among the top 25 banks in the country based on total assets. In accordance with the Agreement and Plan of Merger dated April 24, 2021, as amended on April 26, 2022 and October 27, 2022 by and among the Company, Flagstar, and 615 Corp. (the "Merger Agreement"), Flagstar merged with and into the Company and Flagstar Bank, FSB now operates as Flagstar Bank, N.A., with New York Community Bank having merged into Flagstar Bank, N.A.
  • MUFG Announces Completion of the Sale of MUFG Union Bank to U.S. Bancorp
    December 2, 2022
    On September 21, 2021, MUFG and MUFG Bank, a core banking subsidiary of MUFG, announced an agreement[1] to sell all shares of MUFG Union Bank, N.A. (“Union Bank”), MUFG’s subsidiary owned through MUFG Americas Holdings Corporation (“MUAH”), to U.S. Bancorp (“USB”).
  • Tradecycle Capital Delivers Three New Accounts Payable Finance Facilities in November
    December 2, 2022
    The first is a $3,000,000 limit to a private equity-backed market leader in commercial concrete construction. The second is a $3,500,000 limit to a fourth-generation family-owned designer, manufacturer, and distributor of a broad range of home storage products. The third is a $500,000 limit to a family-owned manufacturer of components for the RV industry.
  • Mazars Acquires Boston-based Samet & Company PC
    December 1, 2022
    Mazars, a leading audit, tax and advisory firm in the US, today announced it acquired Boston-based accounting firm Samet & Company PC. Following the acquisition, Mazars gained five partners, three managing directors and 65 new professionals.
  • Triumph Bancorp Rebrands to Triumph Financial
    December 1, 2022
    Triumph Bancorp, Inc. today announced the completion of an extensive rebranding effort, including a change of the company name to Triumph Financial, Inc. (the “Company” or “Triumph Financial”). Prior to the market open on Dec. 2, 2022, the Company’s common stock will begin trading on NASDAQ under the ticker symbol “TFIN.” This will replace the Company's current ticker symbol for its common stock “TBK,” which has been used since its initial public offering in November 2014.
  • CIT Leads $135.6 Million Financing for Superior Biologics
    December 1, 2022
    CIT, a division of First Citizens Bank, today announced that its Healthcare Finance business served as lead arranger of $135.6 million in financing for Superior Biologics Inc. Headquartered in Sharon Hill, Pennsylvania, Superior Biologics is a leading provider of specialty pharmacy and home infusion therapy services to patients contending with a wide variety of chronic illnesses.
  • nFusion Capital Fuels the Growth of Lone Star Overnight
    December 1, 2022
    Lone Star Overnight (LSO) is a regional last mile parcel delivery company based in Austin, Texas, successfully operating for more than 25 years. They combine the speed of a courier, the discipline of a carrier and the service of a true partner in a one-of-a-kind shipping model that enables them to offer customers their own personal rapid delivery system.
  • FocalPoint Advises Atlantic Squared on its Acquisition of Metal Roofing Systems and Metal Roofing Systems & Supply
    December 1, 2022
    Atlantic Squared Supply LLC (“Atlantic Squared”) has announced the successful acquisition of Metal Roofing Systems, LLC and Metal Roofing Systems & Supply, LLC (collectively, “MRS”) with financing provided by TCW Asset Management Company LLC (“TCW”) and PNC Bank, N.A., (“PNC”). FocalPoint ("FocalPoint"), a division of B. Riley Securities, Inc., served as co-advisor to Atlantic Squared on the transaction, along with Statesman Business Advisors.
  • Dechert Announces New Global Leadership Team
    December 1, 2022
    Global law firm Dechert has today announced that, effective July 1, 2023, partners David W. Forti and Mark E. Thierfelder will become Co-Chairs and that partners Sabina Comis and Vincent H. Cohen, Jr. will become the firm's first Global Managing Partners. The incoming leadership team will succeed Andy J. Levander, the firm's Chair since 2011, and Henry N. Nassau, the firm's CEO since 2016, when their leadership terms end on June 30, 2023.
  • Nautilus, Inc. Completes Refinancing of Existing Term Loan, Enhancing its Liquidity Position and Increasing the Total Credit Facility to $130 Million
    December 1, 2022
    Nautilus, Inc. (NYSE: NLS) (the “Company”) today announced the amendment of its existing credit facility by refinancing the previous term loan with a new $30 million term loan (“New Term Loan”), thereby increasing the Company’s total credit facility to $130 million. The credit facility previously consisted of a $100 million asset-based revolver and a $15 million term loan provided by Wells Fargo Bank, NA.
  • Alvarez & Marsal Launches Mass Torts Practice, Naming Timothy Raab Managing Director and Practice Leader
    December 1, 2022
    Leading global professional services firm Alvarez & Marsal (A&M) has launched a new Mass Torts offering, within its Disputes and Investigations practice, dedicated to helping litigants, companies, special masters, and parties in bankruptcy cases forecast and assess the economic impact of mass torts. Timothy Raab, based in Washington-DC, has been appointed Managing Director to head the new Mass Torts practice in North America for helping clients resolve cases ranging from product liability to toxic pollution and natural disasters.
  • Sterling Announces New $700 Million Credit Facility and $100 Million Share Repurchase Program
    December 1, 2022
    Sterling Check Corp. (NASDAQ: STER) (“Sterling” or “the Company”) today announced a $700 million refinancing of the Company’s credit facility and the authorization of a $100 million share repurchase program. KeyBanc Capital Markets Inc. led the refinancing transaction with Wells Fargo Securities, LLC, Citizens Bank N.A., and J.P. Morgan Chase Bank N.A. acting as Joint Lead Arrangers.
  • Audax Private Debt Provides Financing to Support Odyssey Investment Partners’ Investment in Magna Legal Services
    December 1, 2022
    Audax Private Debt (“Audax”) announced that, as Administrative Agent and Joint Lead Arranger, it provided a unitranche credit facility to support Odyssey Investment Partners’ (“Odyssey”) acquisition of Magna Legal Services (“Magna” or the “Company”). Headquartered in Philadelphia, Magna provides litigation support services to over 13,000 law firms, corporations, insurance carriers, and government agencies.

 

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