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TSL Express Daily Articles & News
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Latham & Watkins Advises on Multibillion-Dollar Financing to Support Ali Group’s Acquisition of Welbilt
Ali Holding S.r.l., one of the largest and most diversified global leaders in the foodservice equipment industry, has announced that it has completed its previously announced acquisition of Welbilt, Inc.
A cross-border Latham team represented the lead arrangers in a financing to support the transaction comprising a US$2.25 billion term loan B, a US$1.25 billion Euro-equivalent term Loan A and a US$250 million revolving credit facility, which included a banking/finance team led by New York partner Alfred Xue, London partner Hendrik Smit, Milan partners Marcello Bragliani, and Jeff Lawlis, and New York counsel Seung-Ju Paik, with associates Erika Brini Raimondi, Michela Mancini, Tulika Sinha, Simona Di Marcantonio, Deena Smith, and Ian Luby.
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During the Secured Finance Network’s webinar on the healthcare finance sector, streamed May 15, Allen Wilen of EisnerAmper, described a future scenario affected by human longevity, geographic location and how COVID-19 affected you. New trends relevant to finance executives are accelerating out of necessity because of the sudden impact of the coronavirus pandemic and the weaknesses it illuminated.
TSL Express Daily Headlines & News
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Celtic Capital Corporation Provides Funding Electrical and Mechatronic Parts Distributor
November 8, 2022Celtic provided a $1,000,000 accounts receivable line of credit, a $500,000 inventory line of credit and a $152,000 equipment loan to facilitate the refinancing.
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Sandy Feldman Joins Summit Investment Management
November 7, 2022Sandy Feldman joined Summit in 2022 as Managing Director Acquisitions based in Atlanta, GA. His responsibilities include business development and deal sourcing. Prior to Summit, Sandy spent 22 years working with clients through bankruptcy, workouts and other special situations.
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Michael Khan Joins Pinnacle Bank as Executive Vice President, Senior Lending Officer
November 7, 2022Pinnacle Bank (OTCQB: PBNK), headquartered in Gilroy, CA, announced today that Michael Khan has joined the bank as Executive Vice President, Senior Lending Officer.
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Acrisure Announces Incremental Term Loan Facility
November 7, 2022-Acrisure, LLC (the “Company”) announced today that it has closed a senior secured incremental term loan facility in an aggregate principal amount of $1 billion (the “incremental term loans”). The incremental term loans will constitute a new tranche of term loans under the Company’s existing credit agreement, among Acrisure Intermediate, Inc., a Delaware corporation and direct parent company of the Company, the Company, the guarantors party thereto from time to time, the lenders party thereto from time to time, and JPMorgan Chase Bank. N.A., as administrative agent.
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White Oak Merchant Partners Supports Syco Entertainment Ltd on First-Of-Its-Kind Securitization of Non-Scripted TV Shows
November 7, 2022White Oak Merchant Partners, LLC, (“WOMP” or “the firm”), a FINRA registered broker-dealer affiliated with White Oak Global Advisors (“WOGA”), today announced that the firm worked closely with Syco Entertainment Ltd (“Syco”), the media production company of television personality, producer and record executive Simon Cowell, on a $125 million ABS transaction.
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Avtech Capital, LLC Announces New $75 Million Revolving Credit Facility with Capital One, N.A.
November 7, 2022Avtech Capital, LLC today announced the completion of a new $75 Million revolving credit facility with Capital One, N.A. The facility will provide additional liquidity to support the Company's growth and further its efforts to better serve customers.
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Approved Oil Co. Enters Updated Credit Facility
November 7, 2022The bank syndicate supporting the credit facility is comprised of four participants acting in various capacities, with JPMorgan Chase Bank, N.A. as Administrative Agent, Manufacturers and Traders Trust Company, Bank United, N.A., and Atlantic Union Bank.
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Solifi ABL Passes $1B in Loans Outstanding on SaaS Platform
November 7, 2022Solifi™, a global fintech software partner for secured finance, announced its Solifi Asset-Based Lending (ABL) software-as-a-service (SaaS) solution on its open finance platform now supports more than $1B in loans outstanding for lenders globally. Additionally, Solifi’s ABL borrower portal user traffic increased by 4x in less than a year as lenders and borrowers recognize the benefits of Solifi’s easy-to-use, self-service tool that’s available 24/7.
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Cerebro Capital Facilitates $60MM in Financings
November 7, 2022Cerebro Capital, a technology-enabled debt sourcing marketplace for companies in the middle market, recently facilitated the closing of $60MM in debt financings to several companies including $15 million asset-based line of credit for a supplier of sustainably sourced, high quality wood pellets to support their significant growth and $14.5 million USDA loan to an owner operator of a large portfolio of gas stations and convenience stores .
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GenSight Biologics Secures a €35 Million Credit Facility From the European Investment Bank to Support the Launch of LUMEVOQ® in Europe
November 4, 2022GenSight Biologics (Euronext: SIGHT, ISIN: FR0013183985, PEA-PME eligible) (the "Company"), a biopharma company focused on developing and commercializing innovative gene therapies for retinal neurodegenerative diseases and central nervous system disorders, today announced that it has entered into a €35 million credit facility agreement with the European Investment Bank (“EIB”), supported by the European Fund for Strategic Investment (EFSI).
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Kura Oncology Announces Financing Transactions with Bristol Myers Squibb and Hercules Capital, Providing Access to up to $150 Million
November 4, 2022Kura Oncology, Inc. (Nasdaq: KURA), a clinical-stage biopharmaceutical company committed to realizing the promise of precision medicines for the treatment of cancer, today announced a $25 million equity investment from Bristol Myers Squibb (NYSE: BMY) and a term loan facility with access to up to $125 million from Hercules Capital, Inc. (NYSE: HTGC).
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Experienced SBA Business Development Officer Joins First Internet Bank
November 4, 2022First Internet Bank announced today that Ben Rosensweet has joined the organization as Vice President, Senior Business Development Officer. The newest member of the Small Business Administration (SBA) team brings a wealth of experience in finance and new business development, as well as equipment and commercial finance.
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Monroe Capital Closes $502.5 Million Collateralized Loan Obligation XIV
November 4, 2022Monroe Capital LLC (“Monroe”) today announced the closing of a $502.5 million term debt securitization known as Monroe Capital MML CLO XIV, LTD. The term financing was Monroe's second new CLO completed in 2022 and is secured by a portfolio of middle market senior secured loans.
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Lindsay & Brownell Combines with EisnerAmper
November 4, 2022Global business advisory firm EisnerAmper announced that the partners and colleagues of La Jolla, California-based accounting and advisory firm Lindsay & Brownell CPAs & Advisors ("LB Advisors") are to join EisnerAmper in a transaction expected to close in December of 2022.
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CIBC Innovation Banking Announces Growth Capital Facility for SupportLogic
November 4, 2022CIBC Innovation Banking is pleased to announce a growth capital facility for San Jose-based SupportLogic, Inc. (“SupportLogic”), a support experience (SX) platform designed to proactively improve customer experience and revenue retention.
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Tradecycle Capital Delivers a New Accounts Payable Finance Facility for a Furniture Wholesaler
November 4, 2022Tradecycle Capital, an Indianapolis-based trade finance provider, announced it funded a new $4,000,000 revolving accounts payable funding facility for a private equity-owned wholesaler and distributor of home furnishings. Tradecycle was introduced to the company by a trusted advisor to assist with foreign sourcing of product.
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J D Factors Announces Factoring Facilities
November 4, 2022J D Factors announced it has provided the following factoring facilities: $300,000 to a staffing company in Quebec; $750,000 to a transportation company in California; $100,000 to a transportation company in Alberta; $500,000 to a transportation company in Illinois...
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Castlelake Closes Second Income Opportunities Fund with $782 Million
November 3, 2022Castlelake, L.P. ("Castlelake"), a global alternative investment manager with 17 years of experience investing in asset-rich opportunities, today announced that it completed the final closing of Castlelake Income Opportunities II, L.P. ("CIO II" or the "Fund"), with approximately $782 million in capital commitments. CIO II, an asset-based private credit product, is the successor to Castlelake's 2018 vintage fund, which raised $456 million and closed in 2020.
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Moritt Hock & Hamroff Ranked In 2023 Edition Of U.S. News & World Report –Best Lawyers® Best Law Firms
November 3, 2022Moritt Hock & Hamroff has received national recognition in the 2023 "Best Law Firms," rankings by U.S. News & World Report and Best Lawyers®. The firm has been ranked as a Tier 1 in the 2023 U.S. News & World Report - Best Lawyers® "Best Law Firms" list nationally in 1 practice area and regionally in 4 practice areas.
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nFusion Capital Provides $2.5 Million Factoring Line of Credit to Educational Staffing Company
November 3, 2022Based in New York, this client provides educational staffing services to disabled and special needs children throughout the public school district. They are a fast-growing startup, providing individual services to over 300 students in more than 25 schools with special needs every year.
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