- Gateway Completes a Record 39 Stretch Deals in 45 Days Totaling $15 Million
- Moritt Hock & Hamroff Welcomes New Associates Eleni M. Lazarides & Alexander Tomaro
- Baker Garrington and Liquid Capital Announce Recent Financings
- Cumulus Media Announces Agreement to Eliminate Substantially All Remaining Debt and Significantly Strengthen Financial Position
- NGL Closes $950 Million Term Loan, Amends Asset-Based Revolving Credit Facility, To Redeem Approximately 195,000 Class D Preferred Units
TSL Express Daily Articles & News
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Today's Top Story
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Pathway Homes Secures $225M Credit Facility
Pathway Homes ("Pathway"), a real estate platform with a mission to create more homeowners, announced today that it has entered into a secured credit facility in the aggregate amount of $225 million, with Bank of America, acting as Administrative Agent and Sole Lead Arranger. This is Pathway's inaugural credit facility and includes an accordion feature that permits an increase in total commitments up to $475 million under certain conditions.
TSL Express Trending Story
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Two months ago we discussed the questions that lenders should be asking their borrowers as borrowers were beginning to finalize their June 30, 2020 results and report the initial impact of the Covid shutdown and the CARES Act program funds. With the end of August around the corner, the second quarter results and even July 2020 results are available.
It is time to consider updating and expanding discussions with borrowers looking toward the remainder of 2020.
The outline of questions is a guideline to facilitate a discussion focused on the thought processes the business is going through and the financial impact over the past few months and into the future. Open ended questions that encourage a discussion are the most important tools lenders can use to understand their borrowers and the impact of the Covid-19 situation.
TSL Express Daily Headlines & News
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Thompson Street Capital Partners Completes Growth Investment in OpenClinica
February 21, 2023Thompson Street Capital Partners (TSCP), a private equity firm based in St. Louis, announced today a growth investment in OpenClinica, a cloud-first, unified eClinical platform that accelerates clinical research by allowing users to automatically capture data from Electronic Health Records (EHRs) while integrating with existing clinical workflows. Terms of the transaction were not disclosed.
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First Eagle Alternative Credit Announces Senior Investment Leadership & Direct Lending Promotions
February 21, 2023First Eagle Alternative Credit, LLC (“First Eagle” or the “firm”), an alternative credit manager for both direct lending and broadly syndicated investments with approximately $21 billion in assets under management, today announced promotions within its Tradable Credit and Direct Lending investment teams.
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First Business Bank’s Asset-Based Lending Group Funds $18 Million Credit Facility
February 21, 2023Mike Colloton, Vice President II – Asset-Based Lending at First Business Specialty Finance, LLC, a subsidiary of First Business Bank, announces a recently closed and funded $18 million revolving line of credit and equipment term loan for a plastic injection molding company in Wisconsin.
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First Citizens Bank Provides $50.3 Million Financing for Recapitalization of Medical Office Building Portfolio
February 21, 2023First Citizens Bank today announced that its Healthcare Finance group, part of the CIT division, provided $50.3 million in financing to Montecito Medical Real Estate to recapitalize a portfolio of medical office buildings. The portfolio consists of an aggregate of 200,000 rentable square feet across seven off-campus medical office buildings located in Florida, Illinois and Pennsylvania.
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MidCap Business Credit Closes a $12 Million Senior Secured Credit Facility for a Manufacturer and Assembler of Mattresses and Foundations
February 21, 2023MidCap Business Credit announced today they have closed on an $12,000,000 senior secured credit facility for a manufacturer and assembler of mattresses and foundations. The asset based credit facility is comprised of a working capital line of credit with advances against accounts receivable and inventory and a machinery and equipment term loan.
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Rosenthal Closes Two Transactions, Including $35 Million in Acquisition Financing and a Combined $3 Million In Factoring And Purchase Order Financing
February 21, 2023Rosenthal & 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 two recent transactions, including a $35 million acquisition deal for a large consumer products importer and a combined $3 million purchase order financing and factoring deal to support an established footwear company.
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Winston & Strawn Represents Atlis Motor Vehicles, Inc.
February 21, 2023Winston & Strawn is representing Atlis Motor Vehicles, Inc. (NASDAQ: AMV), a vertically integrated electric vehicle technology ecosystem company, and the first battery cell manufacturer to be fully owned and operated in the US, in connection with the pricing of its public offering of 8,334,000 units.
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IDB Bank Announces Strategic Expansion of Sponsor & Leverage Finance Team
February 21, 2023IDB Bank (IDB), a New York-based private and commercial bank, has announced the expansion of its Sponsor & Leverage Finance team. As part of this expansion, IDB aims to further its presence within the leverage finance space, a key area of growth over the next several years.
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Bain Capital Credit Launches New Business Development Company for Income Focused Investors
February 21, 2023Bain Capital Credit, LP (“Bain Capital Credit”), a leading global credit specialist, today announced the launch of Bain Capital Private Credit (“BCPC” or the “Fund”), a perpetual life, non-traded business development company. The Fund will offer access to income-producing investments in middle market companies that have historically been available mostly to institutional investors. Bain Capital Credit has been a longstanding investor in the middle market since its founding in 1998.
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Crayhill Capital Management Provides $200 Million Secured Receivables Financing Facility to Stenn Technologies
February 21, 2023Crayhill Capital Management, a New York-based, minority-owned private credit manager focused on asset-based investments, announced today the close of a $200 million receivables financing facility with Stenn Technologies, a UK-based SME finance platform. The facility, which will initially be $200 million, expandable to up to $400 million, is collateralized by a diverse portfolio of high-quality, short-term trade receivables. Goldman Sachs provided a committed senior credit facility against the portfolio in the initial amount of $175 million.
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Houlihan Lokey Grows Its Capital Markets Capabilities With Experienced Energy Financing Specialist
February 21, 2023Houlihan Lokey, Inc. (NYSE:HLI), the global investment bank, announced today that Daniel East has joined the firm’s Capital Markets Group as a Managing Director. Mr. East is based in Houston and will predominantly partner with the firm’s Oil & Gas Group as well as Houlihan Lokey’s Power & Utilities team to provide private capital financing solutions to the firm’s clients in these sectors.
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Customers Bank Introduces Loan Syndications Banking Solutions
February 21, 2023Customers Bank, a digital and fintech-forward super-community bank with a growing number of operations across the nation and the bank subsidiary of Customers Bancorp, Inc. (NYSE:CUBI), announced the launch of a new Loan Syndications Banking Team, expanding the bank’s lending services for middle market businesses and lead deals to support the bank’s existing and future national lines of business.
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Austin Financial Services Hires SVP, ABL Originations to Expand ABL Originations in Midwest Region
February 21, 2023Austin Financial Services, Inc. (AFS) is pleased to welcome Stacey Huddleston as its new SVP, ABL Originations. In this role, Huddleston will continue to expand the company’s Asset Based Loan (ABL) origination efforts throughout the Midwest region. Huddleston brings with him 22 years of commercial finance and asset-based lending experience. Prior to joining AFS, he held leadership roles with Seacoast Business Funding and Prestige Capital.
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AlixPartners to Acquire Leading Independent Restructuring Practice THM Partners
February 21, 2023AlixPartners, the global consulting firm, today announced that it has entered into an agreement to acquire leading independent restructuring practice THM Partners LLP (THM). The proposed transaction will see THM’s 40 Partners and staff located in the UK, Germany, and Singapore joining AlixPartners’ world-leading Turnaround & Restructuring Services practice.
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Flatbay Capital Announces Funding of $5.9MM CRE Line of Credit
February 16, 2023On December 30th, 2022, Flatbay Capital LLC closed a $5.9MM commercial real estate secured line of credit for a large general contractor in Houston. We also introduced an equipment lending partner and together we were able to fully pay off the bank before year's end.
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White & Case Advises Lenders on Financing for Acquisition of Vittoria
February 16, 2023Global law firm White & Case LLP has advised the lenders on a senior term and revolving credit facility agreement to finance the acquisition by British investment fund Telemos Capital of a majority stake in Vittoria, an Italian manufacturer of bicycle tyres and related accessories. The pool of lenders comprised Crédit Agricole, UniCredit, BPER Banca, Deutsche Bank and Muzinich.
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SG Stonegate Announces a Senior Debt Investment in Mike's Hot Honey
February 16, 2023SG Stonegate Capital is excited to announce its newest partnership: Mike’s Hot Honey. Mike’s Hot Honey was born from a desire to create and share the highest quality honey infused with chili peppers. The brand is a welcomed addition to SG Stonegate's pizza pies, pantry, and the portfolio. The debt financing will support Mike’s Hot Honey’s continued growth, innovation and expansion.
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FTI Consulting Survey Finds Operational and Compliance Implications Will Intensify Across Every Aspect of Digital Insights and Risk Management
February 16, 2023FTI Consulting, Inc. (NYSE: FCN) today announced findings from its Technology segment’s study of digital insights and risk management trends, which revealed that digital risk is rapidly surpassing other areas of corporate risk as the primary business concern and that data has become inextricably linked to business success.
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BMO Announces Executive Appointment
February 16, 2023BMO Financial Group today announced the appointment of Nadim Hirji as Group Head, BMO Commercial Banking. Mr. Hirji will report to Chief Executive Officer Darryl White and join the bank's Executive Committee. His appointment is effective March 1, 2023.
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Stonebriar Commercial Finance Celebrates its 8th Anniversary with Another Record-Breaking Year
February 16, 2023Stonebriar Commercial Finance (“Stonebriar”) today announced it continued to serve its valued customer base, originating $2.3 billion of new business volume for 2022, a 53% increase over 2021, while increasing ending receivables and serviced assets to over $5.6 billion. The significant increase in volume resulted in a 54% increase in operating income and a 57% increase in ending receivables.
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