- Minera Alamos Closes US$75 Million Revolving Credit Facility with Scotiabank and National Bank, Strengthening Balance Sheet for Organic Growth Profile
- Gen II’s Sensr Analytics Expands Private Credit Capabilities with New Portfolio Analytics and Reporting Tools
- Bit Digital Originates Strategic Financing Facility Supporting WhiteFiber Growth Initiatives
- BIG Fiber Secures $250 Million Financing Led by Stonepeak Credit and La Caisse to Accelerate Digital Infrastructure Expansion
- Commercial Finance Partners Closes Five Factoring Facilities in Five Days
TSL Express Daily Articles & News
To submit company news and press releases toTSL Express, email tslexpress@sfnet.com.
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Winston & Strawn Corporate Partners Elevated to Leadership Positions
Winston & Strawn is pleased to announce that five partners have been elevated to leadership positions. Four partners have been promoted to serve as co-chairs of the Leveraged Finance and Asset-Based Lending practices, and one partner as chair of the Sponsor Finance practice.
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Left Behind: Minority Debt Holders and Superpriority Exchanges
A trend towards superpriority debt exchanges that has begun appearing in out-of-court restructurings will continue to cause worry amongst minority debt holders and will likely result in continued litigation regarding the propriety of such exchanges. Examples of such troublesome exchanges began with an exchange conducted by Serta Simmons Bedding, LLC (“Serta”) and has continued with structurally similar transactions conducted by other companies, including Boardriders, Inc. (“Boardriders”) and TMK Hawk Parent, Corp. (“TriMark”).
Tyler Layne and Lee Sands, attorneys at Waller Law cover three recent out-of-court debt transactions that have introduced a novel way for majority lenders and borrowers to improve their position at the detriment of the non-participating/minority lenders.
TSL Express Daily Headlines & News
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Citizens Advises General Die Casters on its Combination with Dart Casting
March 23, 2023Citizens M&A Advisory announced today that it served as the exclusive financial advisor to General Die Casters, Inc. on its combination with Dart Casting, Inc. Headquartered in Twinsburg, OH, General Die Casters is a leading, value-added provider of complex, close tolerance, high-pressure aluminum die cast solutions for the transportation, lawn and garden, automotive and industrial markets.
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Greystone Commercial Capital Adds Senior Executives to Growing Team
March 23, 2023Greystone announced that it has hired Mike Casavant as a Managing Director, Ryan Carlin as a Director, and JP Chisholm as a Director to its rapidly growing New York-based Greystone Commercial Capital (GCC) team. GCC originates institutional structured commercial mortgage loans and subordinate debt for all property types.
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O2 Sponsor Finance Provides over $44 Million in Senior Secured Credit Facilities to Support Soundcore Capital Partners’ Acquisitions of ACI Asphalt & Concrete, LLC & ACS Asphalt Concrete Solutions
March 23, 2023O2 Sponsor Finance, a division of Old Second National Bank, today announced that it served as senior secured credit facilities administrative agent and lead arranger for over $44 million in senior secured credit facilities to support Soundcore Capital Partners' acquisitions of ACI Asphalt & Concrete, LLC ("ACI") and ACS Asphalt Concrete Solutions ("ACS").
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Bud Fintech Announces Expansion into the US with Key Hires and Funding from HSBC, Goldman Sachs, TransUnion
March 23, 2023Today, Bud Financial Limited (Bud), a leader in Open Banking and transactional data intelligence, announced its expansion into the United States. Bud entry into the US market coincides with high demand for innovative products to shake up the $20 trillion banking industry. Backed by HSBC, Goldman Sachs, and TransUnion, Bud has already hired its go-to-market team to meet ample market demand.
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Access Capital Provides $2,500,000 Credit Facility to Healthcare IT Solutions Provider
March 22, 2023A provider of Healthcare IT solutions with extensive experience established a goal to grow and become a national provider to leading hospitals and healthcare systems nationwide. The company experienced a significant uptick in sales soon after its formation and expects revenue growth to further accelerate as they execute their growth plan. The team at Access Capital was able to design a credit facility for the new borrower that specifically addresses the expected increase in sales.
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Axiom Commercial Finance Expands Factoring Team in Dallas
March 22, 2023Axiom Commercial Finance, headquartered in Dallas, Texas, has expanded its staff with the hiring of Sanou Cisse as Senior Account Executive in its Factoring team. Sanou’s responsibilities in this position will include managing client relationships and supervising the loan process.
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LifeMD, Inc. Announces Closing of New $40 Million Credit Facility
March 22, 2023LifeMD, Inc. (NASDAQ: LFMD), a leading direct-to-patient telehealth company, today announced that the Company closed on a new senior secured credit facility with Avenue Capital. The credit agreement, which matures on October 1, 2026, provides up to $40 million in total term loan capital including a first tranche of $15 million funded at closing, a second tranche of $5 million of committed capital and an additional accordion option to upsize the credit facility by an additional $20 million.
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Hercules Capital Increases Its Committed Letter of Credit Facility with SMBC
March 22, 2023Hercules Capital, Inc. (NYSE: HTGC) (“Hercules” or the “Company”) the largest and leading specialty financing provider to innovative venture, growth and established stage companies backed by some of the leading and top-tier venture capital and select private equity firms, today announced it has increased its committed letter of credit facility with Sumitomo Mitsui Banking Corporation (“SMBC”) by $75.0 million for a total of $175.0 million in credit capacity subject to borrowing base, leverage and other restrictions.
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Brightwood Capital Advisors Leads $300 Million Senior Secured Credit Facility to Support Giving Home Health Care’s Strategic Growth Initiatives
March 22, 2023Brightwood Capital Advisors (“Brightwood”), a middle market private credit firm, announced it has led a $300 million senior secured credit facility financing to Giving Home Health Care (“GHHC”). The financing was used to support GHHC’s recent partnership with FS Investments and to fund its strategic growth initiatives.
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Sotera Health Amends and Upsizes Revolving Credit Facility
March 22, 2023Sotera Health Company (“Sotera Health” or the “Company”) (Nasdaq: SHC), a leading global provider of mission-critical end-to-end sterilization solutions and lab testing and advisory services for the healthcare industry, today announced that it has successfully closed on an amendment (the “Amendment”) to its First Lien Credit Agreement (the “Credit Agreement”). The Amendment adds revolving loan commitments of $76.3 million, increasing the total aggregate principal amount of available commitments under the Company’s revolving credit facility (“Revolving Credit Facility”) from $347.5 million to $423.8 million.
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Ares Management and Mubadala Announce the Creation of a Joint Venture to Invest in Global Credit Secondaries Opportunities
March 22, 2023Ares Management Corporation (“Ares”) (NYSE: ARES), a leading global alternative investment manager, and Mubadala Investment Company (“Mubadala”), a global sovereign investor, today announced the formation of a joint venture to invest in global credit secondaries opportunities.
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Commercial Finance Partners Qualifies and Finances Over $150,000,000 in Employee Retention Credits
March 22, 2023Commercial Finance Partners is pleased to announce that is has qualified and financed over $150,000,000 in Employee Retention Credits. The company has expanded the financing programs to include larger credits in excess of $10,000,000, while maintaining the same focus of helping small business owners, private equity firms, lenders, and other parties that might benefit from pulling forward the credits due to the various companies.
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Diebold Nixdorf Confirms Closing on $55 Million of Additional Liquidity
March 21, 2023Diebold Nixdorf (NYSE: DBD) today announced an amendment to its asset-based credit facility (ABL) to add a new $55 million first-in-last-out term loan (FILO) tranche. Additionally, Diebold Nixdorf's ABL lenders have agreed to certain other modifications and waivers to the ABL facility, allowing them to continue to work together collaboratively to develop an updated borrowing framework. The existing $250 million non-FILO ABL tranche commitments remain in place.
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Conifex Announces Secured Revolving Credit Facility
March 21, 2023Conifex Timber Inc. (“Conifex”) (TSX: CFF) announced today that it has entered into an amended and restated secured revolving credit facility with Wells Fargo Capital Finance Corporation Canada.
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Gridiron Capital Portfolio Company Leaf Home Appoints Jon Bostock Chief Executive Officer
March 21, 2023Gridiron Capital, LLC (“Gridiron Capital”), an investment firm focused on partnering with founders, entrepreneurs, and management teams, today announced that its portfolio company, Leaf Home™ (“Leaf Home”) a leading technology-enabled provider of home solutions, has appointed Jon Bostock Chief Executive Officer of the company.
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Sallyport Commercial Finance Provides Existing Oil & Gas Client with $2 Million to Further Acquisition
March 21, 2023An existing Sallyport client in the oil and gas services space has just been equipped with $2,000,000 accounts receivable finance to fund their most recent acquisition in the sector. Initially referred to Sallyport by a contact in the investment banking industry, the client is moving forward with their expansion plans, acquiring complementary businesses in the oil and gas services industry. These funds will enable them to restructure the debt incurred in acquiring the company and move progress with their growth plans
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Pathward’s Sharmen Hall-Lengel and Stacy Sant Earn National Recognition as Leading Women in Secured Finance
March 21, 2023Pathward®, N.A., an industry leading financial empowerment company, today announced that two leaders from its Commercial Finance team, Sharmen Hall-Lengel and Stacy Sant, are profiled in the March 2023 issue of The Secured Lender, a magazine published by the Secured Finance Network (SFNet). The Women in Secured Finance feature article is published online at SFnet.com.
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Iron Horse Credit Provides a $2 Million Inventory Line of Credit to a Hydroponic Grow Systems and Nutrients Distributor
March 21, 2023Iron Horse Credit (“IHC”), a leading inventory lender, is pleased to announce the closing of a $2,000,000 stand-alone inventory revolving line of credit to a Hydroponic Grow Systems and Nutrients Distributor. Iron Horse was able to pay off the company’s high-interest notes and provide the California-based entity with the working capital needed to support its growth.
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MUFG Hires Robert Ellenbogen as Senior Credit Analyst to Enhance Leveraged Finance Platform
March 21, 2023Mitsubishi UFJ Financial Group (MUFG's) (NYSE: MUFG) announced today that it has hired Robert Ellenbogen to its Leveraged Finance team as a Managing Director and Senior Credit Analyst. Ellenbogen will be responsible for delivering industry and company-specific analysis to MUFG's Leveraged Finance Platform in support of deal origination, sales and trading, and investor connectivity, with a focus on the energy sector.
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WSFS Names 13 Associates to Senior Leadership Positions
March 21, 2023“Our Associates are the foundation of our culture and our business model, and we continue to make strategic and deliberate investments to attract, retain and develop talent,” said Michael L. Conklin, Executive Vice President and Chief Human Resources Officer.
The Secured Lender
SFNet's The Women in Secured Finance Issue
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