- Gateway Completes a Record 39 Stretch Deals in 45 Days Totaling $15 Million
- Dykema’s Chicago Office Adds Estate Planning Attorney Todd E. Wallace
- Haynes Boone Names Charlie Harris Charlotte Office Managing Partner
- Cambridge Wilkinson Investment Bank Closes $100 Million Credit Facility Upsizing for Specialty Finance Platform
- Trinity Capital Inc. Provides $35 Million in Growth Capital to Monteris Medical to Support Neurosurgical Technology Advancements
TSL Express Daily Articles & News
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Encina Lender Finance Expands and Strengthens Senior Management Team With Addition Of Four Industry Veterans and Key Promotion
Encina Lender Finance, LLC (“ELF”) announced today a significant expansion to its executive leadership team designed to bolster the company’s position as a leading nonbank lender finance platform serving both commercial and consumer specialty finance companies in the U.S. and Canada.
The new hires are: Edward Chang - chief executive officer; Mark Kassis - head of Risk Management, Commercial Vertical; Bill Laird – head of Risk Management, Consumer Vertical and David Mattei – managing director, Funding Strategy. Additionally, John Thomas was promoted to president and chief operating officer.
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Vernon Francois grew up in a Rastafarian household where the weekly tradition was having his hair braided every Sunday. The experience was so painful that he decided to learn how to braid hair himself, using carpets and window shade edges as practice.
All that practice paid off. When he was just Vernon Francois grew up in a Rastafarian household where the weekly tradition was having his hair braided every Sunday. The experience was so painful that he decided to learn how to braid hair himself, using carpets and window shade edges as practice.
TSL Express Daily Headlines & News
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Avant Brands Announces DIP Financing to The Flowr Corporation
October 24, 2022Avant Brands Inc. announced today that 1000343100 Ontario Inc. (the "DIP Lender"), an entity of which Avant owns 50% of the issued and outstanding shares, has executed a term sheet with The Flowr Corporation and its subsidiaries, The Flowr Group (Okanagan) Inc., The Flowr Canada Holdings ULC and Terrace Global Inc. pursuant to which the DIP Lender will advance a debtor-in-possession ("DIP") loan in the amount of $2,000,000 (the "DIP Loan") in connection with the Flowr Group's application for protection from the Ontario Superior Court of Justice (Commercial List) (the "Court") under the Companies' Creditors Arrangement Act (the "CCAA").
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Capital on Tap Gets $110M Credit Facility to Build Central Finance Hub
October 20, 2022Global FinTech Capital on Tap has secured a $110 million corporate revolving credit facility and said it will use the funding to build a central finance hub that will help small businesses in the United States and the United Kingdom manage all aspects of their business finances.
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Oxford Finance Provides $124.75 Million Credit Facility for the Acquisition of Four Autumn Lake Healthcare Skilled Nursing Facilities in Maryland
October 20, 2022Oxford Finance LLC (“Oxford”), a leading specialty finance firm providing senior debt to healthcare services and life sciences companies worldwide, today announced the closing of a $124.75 million senior credit facility for the acquisition of four Autumn Lake Healthcare Skilled Nursing Facilities (“Autumn Lake” or “the Company”) located in Maryland containing 520 licensed beds.
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Insmed Announces Strategic Financings Totaling $775 Million
October 20, 2022Insmed has entered into a $350 million senior secured term loan agreement with funds managed by Pharmakon Advisors, LP, a leading investor in non-dilutive debt for the life sciences industry and the investment manager of the BioPharma Credit funds (the "Term Loan"). The five-year Term Loan matures in October 2027. The Term Loan bears interest at a rate based upon the secured overnight financing rate (SOFR), subject to a SOFR floor of 2.5%, in addition to a margin of 7.75% per annum.
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Flexport Capital Secures $200 Million Credit Facility from KKR
October 20, 2022Flexport Capital, the trade financing arm of Flexport, today announced it has secured a credit facility of up to $200 million from separate insurance accounts managed by KKR, a leading global investment firm. The credit facility will allow Flexport Capital to continue to build an industry-leading financing product within the Flexport Platform, and to further invest in client growth and geographic expansion.
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Castlelake Aviation Lending Completes Two Transactions Totaling $100 Million
October 20, 2022Castlelake, L.P. ("Castlelake"), a global alternative investment firm with approximately 17 years of experience investing in, financing and managing aviation assets, today announced that it has deployed $100 million through two ne transactions in its Aviation Lending Program.
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SR Alternative Credit, LLC Completes a $10 Million Senior Secured Financing for a Shipping Container Owner-Lessor
October 20, 2022SR Alternative Credit, LLC (“SRAC”), formerly Old Hill Partners, today announced a deal that provided $10 million in the form of a senior secured one-year term loan to a company that acquires and leases standard 20- and 40-foot shipping containers, among other transportation equipment.
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Tricida Announces $125 Million Debt Facility with Hercules Capital
October 20, 2022Tricida, Inc. (Nasdaq: TCDA) announced today that it has entered into a debt facility with Hercules Capital, Inc. (NYSE: HTGC), a leader in customizing debt financing for companies in the life sciences and technology-related markets. The total amount of the debt facility is $125 million of which $100 million will be available for drawdown at Tricida’s option subject to the achievement of certain milestones.
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Victory Park Capital Announces $100 Million Credit Facility for Consumer Payments Platform Nelo
October 20, 2022Victory Park Capital (“VPC”), a leading global alternative investment firm specializing in private credit, today announced it has provided a $100 million credit facility to Nelo, a consumer payments platform for online purchases in Mexico.
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MidWestOne Names Charles N. Reeves as New CEO
October 20, 2022MidWestOne Financial Group, Inc. (Nasdaq: MOFG), parent company of MidWestOne Bank, today announced that its Board of Directors has named Charles (Chip) N. Reeves, 54, as its new Chief Executive Officer (CEO), effective November 1, 2022. Reeves succeeds Charlie Funk, who is retiring following a successful 22-year career with the organization.
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Sound Point Capital and LBC Credit Management Support the Acquisition of Unirac, Inc.
October 20, 2022Sound Point Capital Management, LP (“Sound Point”) and LBC Credit Management, L.P. (“LBC”), two of the leading providers of financing solutions to middle market companies, provided a $180 million senior secured credit facility to Greenbelt Capital Partners (“Greenbelt”) to support the acquisition of Unirac, Inc. LBC served as Agent and Lead Arranger for the senior secured credit facility. Sound Point served as Co-Lead Arranger.
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Monroe Capital Supports NationsBenefits’ Acquisition of DeliverLean
October 20, 2022Monroe Capital LLC announced it acted as sole lead arranger and administrative agent on the funding of a senior credit facility to support NationsBenefits’ acquisition of DeliverLean by private equity sponsors General Atlantic, The Pritzker Organization, and Denali Capital LLC.
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nFusion Capital Releases Q3 Results
October 20, 2022nFusion Capital provided 39 new factoring, inventory finance, and asset based lending facilities during the third quarter of 2022 for an aggregate of $14 million, and $102 million in receivables purchased.
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Weatherford Enters into $370 Million Amended and Restated Credit Facility
October 19, 2022Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) announced that on October 17, 2022 certain of its wholly-owned subsidiaries entered into a credit agreement, which amended and restated the Company’s existing secured letter of credit agreement, dated December 13, 2019, as amended (the “Credit Facility”).
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TD Bank Finances $18 Million to Support YMCA of Delaware
October 19, 2022TD Bank, America’s Most Convenient Bank®, announced today that it provided a $18 million, tax-exempt loan to YMCA of Delaware for the construction of a new facility in Middletown. The loan was completed by Matthew Barnes, TD Bank Relationship Manager, and Lisa Kirkwood, Regional Vice President of Delaware, TD Bank.
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Summit Investment Management Welcomes Catie Vuksich to the Team
October 19, 2022Catie Vuksich joins Summit as a director based in Denver, CO. Her responsibilities include deal sourcing, underwriting, and asset management. Prior to Summit, Catie spent eleven years at Wells Fargo primarily as a member of the Credit Resolution Group focused on distressed credits.
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Concord Serves as Exclusive Financial Advisor and Arranges $12MM in Senior Debt
October 19, 2022Concord Financial Advisors, LLC announced it served as the exclusive financial advisor and arranged $12MM in senior debt for Purr-Ferred PetFood LLC, headquartered in Boca Raton, FL. Purr-Ferred PetFood LLC has sourced proteins from around the world for the major national pet food manufactures for 23 years. The Company’s plant, located in Anchorage, Alaska, processes salmon, cod, halibut and ocean white fish for distribution throughout the U.S.
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Cadence Bank Reveals New Brand Identity and Website
October 19, 2022Cadence Bank (NYSE: CADE) today announced the launch of its new brand identity and corporate website, underscoring its continued commitment to helping people, companies and communities prosper and delivering on its brand promise of creating ease for customers.
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City Holding Company Announces Acquisition Strengthening Kentucky Presence
October 19, 2022Piper Sandler & Co. served as financial advisor and Dinsmore & Shohl LLP served as legal counsel to City in this transactions. Forvis Capital Advisors, LLC served as financial advisor and Wyatt, Tarrant & Combs, LLP served as legal counsel to Citizens. Hovde Group LLC issued a fairness opinion to the board of Citizens.
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Fountainhead Hires Commercial Loan Specialist
October 19, 2022Fountainhead – one of only 14 Small Business Administration (SBA) approved nonbank commercial lending firms specializing in providing growth financing to small businesses across the nation – welcomes its newest Commercial Loan Specialist, Elle Merkley.
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