- Everforth, Inc. Successfully Completes Refinancing and Upsizes to a New $600 Million Revolving Credit Facility Enhancing Financial Flexibility
- Clearside Biomedical, Inc. Completes Financial Restructuring and Emerges from Chapter 11 with Steel Partners as Plan Sponsor
- Bank of America Expands Regional Investment Banking Coverage, Adds Nine Key Senior Hires Across the U.S.
- Gridiron Capital Partners with Centroid
- Citizens Announces Expanded Role for President Brendan Coughlin
TSL Express Daily Articles & News
To submit company news and press releases toTSL Express, email tslexpress@sfnet.com.
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Flagship Healthcare Trust, Inc. (Flagship REIT), a Charlotte-based outpatient healthcare real estate investment trust, has expanded its syndicated senior revolving credit facility arranged by Fifth Third Bank.
The $265 million senior secured credit facility has a $100 million revolver and a $165 million term loan. Flagship also increased its borrowing capacity by an additional $200 million through an accordion feature.
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A new year brings with it many unknowns, and this year is no exception. It remains to be seen how the pandemic will impact the industry in the year ahead, and companies are still evolving strategies and plans to address the increased uncertainty.
Norman Knight, Deputy Director of Flight Operations at NASA, is no stranger to the unknown. He specializes in human space flight, and he has seen everything in orbit. He spoke at SFNet's first-ever online Annual Convention in November 2020 to share what he has learned from his decades at NASA.
Knight shared advice about building a culture of technical truth, openly discussing mistakes to improve systems, and planning for the unimaginable. Here are a few flight rules he suggested for companies looking to manage risk and uncertainty in the year ahead.
TSL Express Daily Headlines & News
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Stonebriar Commercial Finance Announces Closing of $100 Million Construction Financing and Long-Term Lease
May 8, 2023Stonebriar Commercial Finance (“Stonebriar”) today announced the closing of a $100 million construction financing and long-term lease on new passenger rail cars. This transaction supports the Lessee’s further expansion to service its growing customer base.
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SFNet Member Spotlight: Sound Point Capital Management, LP
May 8, 2023Sound Point Capital Management, LP is an asset management firm founded in 2008 with particular expertise in credit strategies.
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Canara Biotech Inc. Secures an Additional $10 Million In Non-Dilutive Capital With its Lead Credit Provider, BMO Commercial Banking
May 8, 2023Cannara Biotech Inc. ("Cannara" or the "Company") (TSXV: LOVE) (OTCQB: LOVFF) (FRA: 8CB), a vertically integrated producer of premium-grade cannabis and derivative product offerings at affordable prices with two mega facilities based in Québec spanning over 1,650,000 sq. ft., announced today that they have raised an additional $10 million of credit facilities from its lead bank, BMO Commercial Banking
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Golden West Food Group Inc. Announces Completion of Debt Refinancing Transaction
May 8, 2023J.P. Morgan and Wells Fargo Bank were the Joint Lead Arrangers, with J.P. Morgan serving as Administrative Agent. KKAP Advisors provided advisory service to the company.
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SLR Healthcare ABL Provides Financing to Clinical Lab
May 8, 2023SLR Healthcare ABL is pleased to announce that it has provided an $8 Million asset-based revolving line of credit to a clinical lab.
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MidCap Financial Closes $20mm Senior Revolving Credit Facility to Village Fertility Pharmacy
May 8, 2023MidCap Financial, a leading commercial finance company focused on middle market transactions, today announced it has provided a $20mm senior revolving credit facility to ABD Group Inc. (“Village Fertility Pharmacy,” “VFP” or “Company”).
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Cyxtera Gets $50M Lifeline, Reaches new Agreement With Debtors, is Forced to Seek Sale or new Investment
May 8, 2023The company this week announced that it has received $50 million in new financing from certain lenders, holding over two-thirds of its outstanding term loan, to support ongoing business operations.
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Invacare Holdings Corporation Completes Financial Restructuring and is Well Positioned to Drive Forward in its Transformation
May 8, 2023-Invacare Holdings Corporation (“Invacare” or “the company”), a leading manufacturer and distributor of medical equipment used in non-acute care settings, today announced that Invacare Corporation and its two U.S. subsidiaries, Freedom Designs, Inc. and Adaptive Switch Laboratories, Inc., successfully emerged from Chapter 11 on May 5, 2023.
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NFIB Survey Reveals Small Businesses Prefer Smaller Banks and Value Customer Service
May 8, 2023Conducted via email from April 14-18, 2023, the survey provides insights into small business banking operations and confidence in the banking system and the overall economy.
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Christmas Tree Shops Becomes Latest Retailer To Seek Bankruptcy Protection
May 8, 2023Christmas Tree Shops has joined its former owner Bed Bath & Beyond in seeking bankruptcy protection, adding to the growing list of retailers this year that have filed for Chapter 11. The Middleborough, Massachusetts-based chain went to U.S. Bankruptcy Court in Delaware to seek voluntary protection Friday.
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Equity Bank Announces Hire of Richard M. Sems as President
May 8, 2023Equity Bancshares, Inc (“Equity”, “the Company”, “we”, “us”, “our”), the Wichita-based holding company of Equity Bank, announced the hire of Richard M. (“Rick”) Sems as President of Equity Bank (“the Bank”).
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Audax Private Debt Provides Financing to Support Amulet Capital Partners’ Acquisition of minds + assembly
May 8, 2023Audax Private Debt (“Audax”) announced that, as Administrative Agent and Lead Arranger, it provided a unitranche credit facility to support Amulet Capital Partners (“Amulet”) in their acquisition of minds + assembly (the “Company”).
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Winston & Strawn Corporate Partner Jordan Klein Elevated to Additional Leadership Position
May 4, 2023Jordan is recognized as one of the country’s go-to lawyers in the ABL and lender finance spaces and has extensive experience advising clients in asset-based, cash flow, leveraged, real estate, and other financial transactions.
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Oxford Bank Corporation Awards FHLBank Indianapolis Elevate Grants To Diverse Group Of Small Businesses
May 4, 2023Oxford Bank Corporation ("Oxford" or "the Company") (OTC Bulletin Board: OXBC), the holding company for Oxford Bank ("the Bank"), announced today that it has awarded small business grants to four local businesses in Michigan through the Federal Home Loan Bank of Indianapolis Elevate Grant program. Elevate is an innovative grant program that awards up to $20,000 to assist the growth and development of local small businesses, their workforces, and the communities
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Lendscape Appoints Carolyn Goddard as Head of Product
May 4, 2023Goddard also joins the Lendscape Senior Management Team and will be responsible for leading product development and alignment with the overall business strategy.
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Pacific Western Bank Issues Update
May 4, 2023In light of recent reporting regarding strategic actions, PacWest Bancorp (Nasdaq: PACW) (the “Company”) provides the following update:
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TD Bank and First Horizon Mutually Agree to Terminate Merger Agreement
May 4, 2023TD Bank Group (TSX andNYSE: TD) ("TD") and First Horizon Corporation (NYSE: FHN) ("First Horizon" or "the Company") today announced that they have entered into a mutual agreement to terminate their previously announced merger agreement, originally announced on February 28, 2022. TD informed First Horizon that TD does not have a timetable for regulatory approvals to be obtained for reasons unrelated to First Horizon.
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Ares Management Serves as Lead Arranger and Junior Agent for $3 Billion in Financing to Support the Acquisition of Merchants Fleet by Bain Capital, ADIA and the Merchants Executive Team
May 4, 2023Ares Management Corporation (NYSE: ARES) (“Ares”) announced today that funds managed by its U.S. Direct Lending and Alternative Credit strategies served as the lead arranger and junior agent for $3 billion in asset-backed and operating company financing for Merchants Fleet (the “Company”) as part of the acquisition by Bain Capital.
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Citizens Financial Group Appoints Coughlin, Johnson as Vice Chairmen
May 4, 2023Citizens Financial Group, Inc. [NYSE: CFG] today announced that Brendan Coughlin, Head of Consumer Banking, and Beth Johnson, Chief Experience Officer and Head of ESG, have been named Vice Chairmen. They join Don McCree, Head of Commercial Banking, and John Woods, Chief Financial Officer, as Vice Chairmen of Citizens.
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Abacus Finance Provides Senior Debt Financing to Support the Ad-On of I&I Sling, Inc. and Slingmax, Inc. by Yale Cordage, a River Associates Portfolio Company
May 4, 2023Abacus Finance Group, LLC – a leading provider of cash flow-based, classic senior debt for sponsor-led buyouts of lower middle-market companies – today announced that it served as Senior Secured Credit Facilities Administrative Agent and Lead Arranger for senior secured credit facilities to support the Ad-On of I&I Sling, Inc. and Slingmax, Inc. by Yale Cordage, a River Associates Investments, LP portfolio company.
The Secured Lender
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