- Canacol Energy Announces Agreement for Debtor in Possession (“DIP”) Financing
- Jones Day Names 33 new Partners
- Sallyport Commercial Finance Provides $1 Million for Electronics Distributor for Expansion
- Monroe Capital Launches Monroe Capital Enhanced Corporate Lending Fund (MLEND)
- Republic Business Credit Supports Growth of Emerging Footwear Manufacturer with a $750,000 Factoring Facility
TSL Express Daily Articles & News
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Yieldstreet Closes $400 Million Credit Facility with Monroe Capital to Expand Investor Access to Private Markets
Yieldstreet, the world’s largest direct-to-consumer online platform for investing in private markets, today announced the closing of a warehouse facility that provides access to up to $400 million from Monroe Capital LLC. This financing is the largest of its kind to date for Yieldstreet and for any alternative investment platform in the industry and enables the company to scale in the coming years.
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White Oak Commercial Finance Appoints Senior Portfolio Manager for Northeast Region
White Oak Commercial Finance is pleased to announce that Martin F. Efron has joined the firm as the portfolio manager in New York, serving the Northeast region. He will report to Bob Grbic, CEO and president of White Oak Commercial Finance.
TSL Express Daily Headlines & News
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OpenText Announces Pricing of Notes Offering and Successful Term Loan Syndication as part of Micro Focus Acquisition Financing
November 17, 2022OpenText™ (NASDAQ: OTEX), (TSX: OTEX) announced today that Open Text Corporation (the "Company" or "OpenText") has priced an offering (the "Notes Offering") of US$1 billion principal amount of 6.90% senior secured fixed rate notes due 2027 (the "Notes") in connection with its proposed acquisition (the "Acquisition") of Micro Focus International plc ("Micro Focus").
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Capital Southwest Increases Credit Facility to $400 Million
November 17, 2022Capital Southwest Corporation (“Capital Southwest”) (Nasdaq: CSWC), an internally managed business development company focused on providing flexible financing solutions to support the acquisition and growth of middle market businesses, today announced an increase to its senior secured revolving credit facility (the “Credit Facility”).
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Grant Thornton Announces new Additions to Senior Leadership Team
November 17, 2022Grant Thornton LLP, one of America’s largest audit, tax and advisory firms, today announced that it has elevated five professionals to its Senior Leadership Team to help the firm further execute its long-term growth strategy, which is creating compelling value for clients and team members.
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SWK Holdings Corporation Announces Upsizing of Credit Facility up to $50 Million
November 17, 2022SWK Holdings Corporation (Nasdaq: SWKH) ("SWK" or the "Company"), a life science focused specialty finance company catering to small- and mid-sized commercial-stage companies, announced the signing of the 5th Amendment to the Loan and Security Agreement with Cadence Bank ("Cadence"). The amendment increases Cadence's commitment to $35 million, with a $15 million accordion feature that provides for expansion of the facility up to $50 million, subject to customary conditions.
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Priority Power Secures $250 Million Credit Facility to Fuel Future Growth
November 17, 2022Priority Power Management, Inc. ("Priority Power" or the "Company"), a leader in energy optimization and infrastructure offering smart energy solutions and streamlined transitions to carbon neutrality, announced that it successfully refinanced its existing debt and increased its credit facility from $85 million to $250 million.
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Frost Names New Chief Credit Officer
November 17, 2022Frost Bank announced today that Howard Kasanoff, a senior executive vice president who has been with the bank since August 1992, will become chief credit officer at the beginning of 2023. Kasanoff will succeed Bill Perotti, Frost's long-serving chief credit officer, who is retiring at the end of this year.
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Oxford Finance Closes $115 Million Credit Facility With Pearl Street Dental Partners
November 17, 2022Oxford Finance announced the closing of a $115 million senior credit facility to Pearl Street Dental Partners (“Pearl Street” or “the company”), a dental platform owned by SkyKnight Capital (“SkyKnight”), dentists, and management. Proceeds from the transaction will be used to support the acquisition of the business and provide ongoing working capital and growth capital needs. Oxford is the sole lender and administrative agent in the transaction.
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CIT Serves as Lead Arranger on $419 Million in Financing for Broad River Power Facility in South Carolina
November 17, 2022CIT, a division of First Citizens Bank, today announced that its Power and Energy business served as lead arranger on $419 million in financing for acquisition of the Broad River power generation facility in Gaffney, South Carolina. Onward Energy Inc. is acquiring the five-unit, 860-megawatt simple-cycle peaking power plant, which is fully contracted under a long-term power purchase tolling agreement with Duke Energy Progress Inc. The financing package included a term loan, letters of credit and a working capital facility.
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Rochester Iron & Metal Selects LSQ as SCF Solution Provider
November 17, 2022LSQ, a leading provider of working capital finance and payments solutions, today announced a partnership with Indiana-based Rochester Iron & Metal to provide a supply chain finance (SCF) program to its metal processing and recycling suppliers. Through the program, suppliers will have the ability to receive early payment for invoices to Rochester through LSQ FastTrack®, the best-in-class working capital finance and payments platform.
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Private Equity Wire Names CohnReznick Best Audit Firm – Middle Market
November 17, 2022CohnReznick LLP, one of the leading advisory, assurance, and tax firms in the United States, today announced that it has been recognized by Private Equity Wire as the Best Audit Firm – Middle Market in the publication’s 2022 US Awards program. Award winners were announced during an awards ceremony and networking event held at The University Club of New York.
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Huntington Business Credit Closes News Credit Facilities with Fourth Street Barbecue, Inc.
November 17, 2022Huntington Business Credit announced it closed $88,302,000 in new credit facilities with Fourth Street Barbecue, Inc. on September 2, 2022. Proceeds of the facility were used to refinance existing debt and provide ongoing working capital growth financing. Fourth Street Barbecue, Inc., headquartered in Charleroi, Pennsylvania, is a packer and distributor of frozen folds sold through the grocery industry.
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Vinson & Elkins Expands New York M&A and Capital Markets Practice
November 16, 2022Vinson & Elkins announced today that M&A and capital markets lawyer John Johnston has returned to the firm as counsel in New York. After beginning his career at Vinson & Elkins, Johnston rejoins the firm from Baker Botts, where he spent the past five years. He represents businesses in a wide range of corporate transactions, including initial public offerings, registered and unregistered offerings of equity and debt securities, and M&A transactions.
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Prestige Capital Extends $1,000,0000 in Funding to a CBD Wellness Brand
November 16, 2022This innovative CBD company needed growth capital but since most banks are unable to fund this industry, they started to explore alternative solutions. The company was working with a few large retailers but couldn’t get the funding needed in order to pay vendors timely and keep up with the growing demand for high-quality CBD products in today’s market.
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Second Avenue Capital Partners and Tiger Finance Provide $80 Million Credit Facility for Casper Sleep, Inc.
November 16, 2022Second Avenue Capital Partners, LLC (SACP) and Tiger Finance (Tiger) announced the closing of an $80 million credit facility for Casper Sleep, Inc. (Casper), the omnichannel retailer of innovative sleep products including mattresses, pillows and other sleep accessories. The new financing will be used to retire an existing credit facility and support the ongoing working capital needs of the business.
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CIT Provides $34 Million for Development of Lionsgate Warburton Studios in Yonkers, New York
November 16, 2022CIT, a division of First Citizens Bank, today announced that its Real Estate Finance business provided $34 million in financing to a joint venture between i.Park and Great Point Media for the development of the Lionsgate Warburton Studios, an entertainment production facility in Yonkers, New York.
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REZI Secures $100M From Stratos to Expand Nationwide
November 16, 2022REZI, a real estate technology company offering "Occupancy-as-a-Service" for rental property owners, has secured $100M in debt financing from Stratos Credit, announced today by Sean Mitchell, CEO & Co-founder at REZI.
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Alvarez & Marsal Appoints Chris Lanman Managing Director in Expanding Private Equity Performance Improvement Practice
November 16, 2022Leading global professional services firm Alvarez & Marsal (A&M) has appointed Atlanta-based Chris Lanman as a Managing Director in the firm’s Private Equity Performance Improvement (PEPI) practice. Mr. Lanman joins A&M from KPMG and brings more than 25 years of in-depth, high-tech strategy and deal advisory consulting experience within the semiconductor, hardware, cloud computing and software industries.
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Brightwood Capital Advisors Provides Incremental Term Loan to Support Interstate Waste Services Continued Growth
November 16, 2022Brightwood Capital Advisors (“Brightwood”), a private credit firm, announced today that it has provided an incremental term loan to support Interstate Waste Services, Inc.’s (“IWS”) multifaceted growth strategy. This transaction is a testament to Brightwood’s longstanding relationship with IWS, having supported the Company for over ten years. Most recently, Brightwood is providing additional financing to support several growth initiatives.
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Wingspire Capital Provides $40 Million Revolver to Corsicana as Part of Restructuring
November 16, 2022Wingspire Capital LLC (“Wingspire”) provided a $40 million senior secured revolving line of credit to Corsicana Mattress Company as part of its exit from bankruptcy. It was the third financing transaction Wingspire Capital has provided to Corsicana, following an initial senior secured revolving credit facility in mid-2021 and a $40 million debtor-in-possession facility in June of 2022.
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Horizon Technology Finance Announces Completion of $158 Million Securitization
November 15, 2022Horizon Technology Finance Corporation (NASDAQ: HRZN) ("Horizon" or the "Company"), 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, today announced that Horizon Funding Trust 2022-1, a newly-formed wholly-owned subsidiary of Horizon, has issued $100 million of Notes (the "Notes") rated A by a rating agency and which is backed by $158 million of secured loans originated by Horizon.
The Secured Lender
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