- BHI Appoints Gurpreet Bal as Chief Information Officer
- Establishment Labs® Refinances Credit Facility
- Parafin Expands Warehouse Credit Facility With Silicon Valley Bank, EverBank, and Trinity Capital
- Tiger Group Sale Features 100-Plus Trailers, Tractor Trucks and Forklifts in Southern California
- Celtic Capital Corporation Provides Line of Credit for Snack Foods Distributor
TSL Express Daily Articles & News
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Monroe Capital Supports Spectrum Science’s Add-on Acquisitions
Monroe Capital LLC announced it acted as sole lead arranger and administrative agent on the funding of a senior credit facility to support three add-on acquisitions (Sonic Health, The Seismic Collaborative, and Aurora Healthcare Communications) and provide growth capital for Spectrum Science.
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SG Credit Partners provides situational capital ranging from $1-$10 million for the lower middle market with a focus on non-sponsored businesses. Headquartered in Southern California with offices in Atlanta, Boston, Chicago and Portland, the SG Credit Partners team has provided in excess of $250 million to 150-plus borrowers across a variety of industries and continues to expand its national footprint. Here, Marc discusses SG Credit’s efforts in going from a niche lender to a broader platform in order to better work with asset-based lenders and banks and why they are broadening their scope.
TSL Express Daily Headlines & News
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Mid Penn Bancorp, Inc. Signs Definitive Agreement to Acquire Brunswick Bancorp
December 21, 2022Mid Penn Bancorp, Inc., headquartered in Harrisburg, Pennsylvania, and Brunswick Bancorp, headquartered in New Brunswick, New Jersey, today jointly announced the signing of a definitive merger agreement pursuant to which Mid Penn will acquire Brunswick in a combination cash and stock transaction valued at approximately $53.9 million (based upon Mid Penn’s closing stock price of $30.95 for the trading day ending December 19, 2022).
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Hunter Street Completes Financing to Support Acquisition of Building Supplies Manufacturer
December 21, 2022Hunter Street, a Minneapolis-based alternative investment management firm, has partnered with Five Crowns Credit Partners ("Five Crowns") to provide $15.5 million in financing to support Metar Capital's acquisition of Ready Made Builders Supply ("Ready Made"), a manufacturer of trusses, doors, and cabinets in the Salt Lake City market.
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Core Scientific Announces Comprehensive Restructuring Transaction
December 21, 2022Core Scientific, Inc., a leader in high-performance blockchain computing data centers today announced that, after a comprehensive review of potential alternatives and exhaustive discussions with various Company stakeholders, the Company expects to enter into a restructuring support agreement with the Ad Hoc Noteholder Group, representing more than 50% of the holders of its convertible notes. Core Scientific is being advised by Weil, Gotshal & Manges LLP as its legal advisor, AlixPartners, LLP as its financial advisor and PJT Partners LP as its investment banker.
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Gatos Silver Announces Re-Instatement and Extension of US$50 Million Revolving Credit Facility
December 21, 2022Gatos Silver, Inc. (NYSE/TSX: GATO) (“Gatos Silver” or the “Company”) is pleased to announce that it has extended the maturity date and re-established a credit limit of US$50 million in an amended and restated revolving credit facility (the “Revolver”) with Bank of Montreal (“BMO”). The Revolver includes an accordion feature providing up to an additional US$25 million of credit (the “Accordion”).
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Obra Capital Completes Super Priority Secured Debtor-In-Possession Credit and Security Agreement with GWG Holdings, Inc.
December 21, 2022Obra Capital, Inc. (“Obra”), a portfolio company of RedBird Capital Partners and Reverence Capital Partners, today announced that it completed a super priority secured Debtor-In-Possession credit and security agreement with GWG Holdings, Inc. Obra, through Vida Insurance Credit Opportunity Fund III, LP and its related affiliates, agreed to provide a term loan credit facility in an initial aggregate principal amount of approximately $564 million and a revolving credit facility in an aggregate principal amount of up to $40 million.
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Middle Market Company Acquisition Made Possible with $13 Commitment from Accord Financial
December 20, 2022Accord Financial Corp., one of the U.S. and Canada’s leading independent finance companies ("Accord") (TSX: ACD) announced the closing of a $13 million credit facility to support the acquisition of an equipment services company. Accord’s Asset Based Lending Group structured the facility to include a traditional revolving credit package backed by accounts receivable and inventory as well as a term loan supported by equipment.
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CMCT Announces Closing of New Credit Facility
December 20, 2022CMCT (NASDAQ: CMCT and TASE: CMCT-L) announced today that it has entered into a new $206 million secured credit facility. The new facility matures in December 2025 with two one-year extension options and replaces the company's prior credit facility that was set to mature in October 2023.
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Allego Expands Credit Facility to €400 million, Securing Growth Capital Supporting its Significant Backlog
December 20, 2022Allego N.V. (“Allego” or the “Company”) (NYSE: ALLG), a leading pan-European public electric vehicle fast and ultrafast charging network, today announced that it has successfully expanded its credit facility by €230 million to €400 million. The new facility expires in December 2027.
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Evans Expected to Increase Momentum With Expanded Credit Facility from PNC Bank
December 20, 2022Evans Transportation Services Inc. today announced it has closed a new credit facility with PNC Bank, N.A. The new larger credit facility will serve as a vehicle for supporting the company’s current growth trajectory, which includes a revenue increase from $80 million to $400 million since 2018.
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B. Riley Securities Served as Lead Left Bookrunner to Lion Electric on its $50 Million Follow-On Offering
December 20, 2022B. Riley Securities, Inc., a leading full-service investment bank, was pleased to serve as lead left bookrunner to the Lion Electric Company (NYSE: LEV) ("Lion" or the "Company") in its successful Follow-On Offering which resulted in gross proceeds of US$50 million to Lion Electric.
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OppFi Closes $150 Million Credit Facility
December 20, 2022OppFi Inc. (NYSE:OPFI) ("OppFi" or the "Company"), a leading financial technology platform that powers banks to help the everyday consumer gain access to credit, today announced that subsidiaries of the Company have closed a $150 million credit facility with an affiliate of Castlelake L.P. ("Castlelake") as lender. Affiliates of Hudson Cove Capital Management LLC ("Hudson Cove") are also participating in the credit facility.
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Monroe Capital Supports TruArc Partners’ Investment in Prototek
December 20, 2022Monroe Capital LLC announced it acted as administrative agent and sole lead arranger on the funding of a senior credit facility to support the refinancing of Prototek Holdings LLC (“Prototek”), an existing portfolio company of TruArc Partners.
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M&T Bank's Wilmington Trust Agrees to Sell CIT Business to Madison Dearborn Partners
December 20, 2022Wilmington Trust, N.A. ("Wilmington Trust"), a leader in wealth management and corporate and institutional services and a wholly-owned subsidiary of M&T Bank Corporation ("M&T") (NYSE: MTB), today announced an agreement with Madison Dearborn Partners, LLC ("MDP"), a leading private equity firm based in Chicago, under which funds affiliated with MDP will acquire Wilmington Trust's Collective Investment Trust ("CIT") business.
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Banc of California Announces Executive Promotions and a Retirement
December 20, 2022Banc of California, Inc. (NYSE: BANC) (the “Company”), the holding company for Banc of California, N.A. (the “Bank”), today announced the promotions of several senior executives effective January 1, 2023. The Company also announced the retirement of Lynn Sullivan as the Company’s Executive Vice President and Chief Risk Officer, effective as of year-end, following a distinguished career in banking and exceptional service to the Bank. Ms. Sullivan will serve as a consultant to the Bank for a six-month transition period
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Superior Industries Announces Refinancing
December 19, 2022Funds managed by Oaktree Capital Management, L.P. (“Oaktree”) provided the capital for a new $400 million Senior Secured Term Loan maturing December 15, 2028. J.P. Morgan Chase Bank is Agent for a new $60 million Revolving Credit Facility maturing on December 15, 2027.
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ASK Chemicals Refinances Senior Credit Facilities
December 19, 2022ASK Chemicals, a leading global supplier of high-performance industrial resins and materials, today announced that it has signed definitive agreements to refinance the company's existing senior secured credit facilities; consisting of a €190m senior secured term loan facility and a €25m senior secured multi-currency revolving credit facility. Goldman Sachs Bank Europe SE acted as sole mandated lead arranger and bookrunner on the financing.
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Configure Partners Advises Hidden Harbor Capital Partners on its Acquisition Financing for Inspire Aesthetics LLC
December 19, 2022Configure Partners, LLC (“Configure”), a leading middle-market investment bank, is pleased to announce its role as exclusive financing advisor to Hidden Harbor Capital Partners (“Hidden Harbor”) in securing committed debt capital to support Hidden Harbor’s acquisition of Inspire Aesthetics, LLC (“Inspire Aesthetics”), a leading network of plastic surgery and aesthetics centers in South Florida.
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Evelo Biosciences Announces $45 Million Loan Agreement with Horizon Technology Finance Corporation to Refinance Existing Debt
December 19, 2022Evelo Biosciences, Inc. (Nasdaq:EVLO), a clinical stage biotechnology company developing a novel platform of orally delivered medicines acting on the small intestinal axis, SINTAX, today announced it has entered into a senior secured loan agreement with Horizon Technology Finance Corporation (Horizon) (Nasdaq: HRZN), 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.
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Synovus Names New Enterprise and Operational Risk Executive Director
December 19, 2022Synovus Financial Corp. (NYSE: SNV) today announced the hiring of Michael Colasso as the company’s new enterprise and operational risk executive director. Colasso reports to Executive Vice President and Chief Risk Officer Shellie Creson and is based in Atlanta, Georgia.
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Wastequip Extends Senior Secured Revolving Credit Facility
December 19, 2022Wastequip, the leading North American manufacturer of waste handling equipment, today announced it has successfully completed an amendment and extension of its senior secured revolving credit facility. As a result of the transaction, Wastequip's revolving lenders have agreed to extend the maturity of commitments totaling $45 million by 18 months to September 20, 2024.
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