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TSL Express Daily Articles & News
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ZenFi Networks Secures $175 Million Senior Secured Credit Facility
ZenFi Networks, an innovative leader of digital infrastructure solutions in the New York and New Jersey metro region, announces today that it has secured $175 Million in Senior Secured Credit. The credit facility will be used to refinance existing debt and support continued growth initiatives as the company continues the build-out and expansion of the LinkNYC project throughout the five boroughs of New York City.
TSL Express Trending Story
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A recent Supreme Court case and related law changes in many states have resulted in significant new state sales tax obligations on many SaaS providers. It’s important to understand that these changes could result in new tax collection responsibilities on your business even in states where you have operated without them in the past.
Executives need to act quickly to make sure that their existing operations are in compliance with the new rules and that their systems can adapt as sales growth and law changes trigger additional obligations.
TSL Express Daily Headlines & News
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Koppers Secures New $800 Million Credit Facility
June 21, 2022PNC Bank will serve as the revolving administrative agent, collateral agent and swingline loan lender, and Wells Fargo Bank will serve as term administrative agent.
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Rosenthal Names Gene Walsh Business Development Officer
June 21, 2022Rosenthal & Rosenthal, Inc., the leading factoring, asset based lending, purchase order financing, d2c and e-commerce inventory financing firm in the United States, today announced that Gene Walsh has joined Rosenthal as SVP, Business Development Officer in the firm’s Atlanta office.
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Focus Management Group Welcomes Tom Thompson as Senior Managing Director
June 21, 2022Focus Management Group (FMG), a nationwide turnaround and restructuring firm, has enhanced its team with the addition of Tom Thompson. Based out of the firm’s California office, Tom will serve as a Senior Managing Director to complement the firm’s growing demand for its turnaround management and corporate restructuring services.
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PlainsCapital Bank Welcomes Marcus Q. Poole
June 21, 2022Poole has 25 years of banking experience. He began his career as a management trainee and has held various leadership positions, including middle market lender, business banking market manager, and regional business banking manager. In his new role, he will continue working with manufacturers, distribution wholesalers, and professional, health care, and service organizations.
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Huntington Business Credit Provides $24 Million for McGregor Metal Holdings LLC
June 21, 2022Huntington Business Credit announced it closed $24,000,000 in new credit facilities with McGregor Metal Holdings LLC on June 10, 2022. Proceeds of the facility were used to refinance existing indebtedness and provide ongoing working capital growth financing.
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Commercial Credit Group Inc. Closes $420,650,000 Term ABS (2022-1)
June 21, 2022Commercial Credit Group Inc. (CCG), an independent commercial equipment finance company, today announced that it has completed a $420,650,000 term asset-backed security (ABS) transaction. The securitization was CCG’s largest offering to-date and was placed with a diversified group of fixed income investors, representing 29 unique institutions. BMO Capital Markets served as Structuring Agent and Lead Bookrunner for the placement.
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Wintrust Receivables Finance Closes a new $15,000,000 Line of Credit for a Fast-growing Transportation Broker
June 21, 2022Wintrust Receivables Finance (WRF) is happy to announce the closing of a new $15,000,000 account receivable line of credit for a Midwest based transportation broker. The company focuses on full truckload freight for companies in the food and beverage vertical.
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Eastern Bank Welcomes Asian Atlantic Industries, LLC As An Asset-Based Lending Customer
June 21, 2022Eastern Bank is pleased to announce Asian Atlantic Industries, LLC (AAI) as a new asset-based lending customer. Founded in 1998 by CEO Tom Mahoney, AAI is a global supplier of electronic components and semiconductors. Headquartered in Portsmouth, New Hampshire, AAI uses its proprietary software to track the universe of supply and demand, providing its customers with real-time product availability from its vast database of manufacturers and resellers.
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SG Credit Provides Growth Capital Facility to X1
June 21, 2022SG structured a $2.5MM non-dilutive credit facility around the Company’s ARR, allowing existing investors to capture upside in enterprise value generated by additional growth.
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MUFG Expands Sales and Trading Team with Key ABS Hire
June 21, 2022Mitsubishi UFJ Financial Group (MUFG) announced today that Ray Barretto has joined the firm as a Director and Head ABS Trader. Based in New York, Ray reports to Michael McCarthy, Head of Macro Trading.
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Houlihan Lokey Expands Gaming Technology Coverage With Key Hire
June 21, 2022Houlihan Lokey (NYSE:HLI), the global investment bank, announced today that Joel Simkins has joined the firm’s Technology Group as a Managing Director covering the gaming sector. He is based in New York.
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Pelorus Equity Group Closes $11.8 Million Debt Financing, Enabling Juva Life to Expand Cannabis Operations, Further Clinical Research
June 21, 2022Pelorus Equity Group (“Pelorus”), the leading provider of commercial real estate loans for the cannabis sector, announced it has closed an $11.8 million financing with Juva Life Inc. (“Juva Life,” “Juva” or the “Company”), a life science company with pharmaceutical research and development and consumer-facing operations in cannabis production and distribution.
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SQI Diagnostics Extends Maturity Date Of Pivot Credit Facility
June 21, 2022SQI Diagnostics Inc. ("SQI" or the "Company") (TSXV: SQD) (OTCQB: SQIDF), a leader in the science of lung health that develops and manufactures respiratory health and precision medicine tests, announces the extension of the maturity date of its credit agreement (the "Credit Agreement") with Pivot Financial ("Pivot") dated February 8, 2022 to October 11, 2022. All of the other terms of the Credit Agreement remain unchanged.
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Oxford Bank Corporation Announces Retirement of Richard Miller and Appointment of Jesse Deering as Chief Financial Officer and Treasurer
June 21, 2022Oxford Bank Corporation ("Oxford" or "the Company") (OTC Bulletin Board: OXBC), the holding company for Oxford Bank ("the Bank"), announced today that Senior Vice President & Chief Financial Officer, Richard K. Miller, will be retiring in 2023.
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OppFi Upsizes Credit Facility with Affiliates of Atalaya Capital Management to $200 Million
June 21, 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 the Company has more than doubled one of its existing credit facilities with affiliates of Atalaya Capital Management LP (“Atalaya”) to $200 million.
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Lookout Builds Momentum With Continued Strong Results
June 21, 2022Lookout, Inc., a leader in endpoint and cloud security solutions, today announced strong momentum after growing enterprise annual recurring revenue (ARR) by 56% year-over-year for FY 2022 ending January 31, 2022, while substantially increasing its customer count. The Company also secured debt financing for up to $150 million from funds and/or accounts managed by BlackRock to support its continued growth.
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KKR Partners with Veteran CEO Andy Silvernail to Pursue Acquisition Opportunities in the Americas
June 21, 2022-KKR, a leading global investment firm, announced today that it is partnering with Andrew K. “Andy” Silvernail, the former Chairman and CEO of Madison Industries and IDEX Corporation, to pursue new acquisition opportunities. Mr. Silvernail will work alongside KKR as an Executive Advisor to evaluate Americas investment opportunities across multiple sectors, including industrials, health care, and consumer products.
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U.S. Physical Therapy Announces Closing of New Credit Facility
June 21, 2022U.S. Physical Therapy, Inc. ("USPH" or the “Company”) (NYSE: USPH), a national operator of outpatient physical therapy clinics and provider of industrial injury prevention services, today announced the closing of a $325 million, five-year credit facility that includes a $150 million term loan and a $175 million revolver.
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REV Capital Launches REV Tech as Part of its Mission to Reinvent Factoring
June 21, 2022REV Capital, the leading provider of factoring and cashflow financing in Canada and the United States announces the launch of REV Tech. This new subsidiary demonstrates REV Capital’s commitment to investing in technology as part of its mission to reinvent factoring. Appointed as Chief Operating Officer of REV Tech is Bheesham Singh, an industry veteran who has spent the past 20 years driving profitability for his clients.
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Republic Business Credit Provides a $5.5 Million Ledgered Line of Credit to a Texas-Based Oil Field Service company
June 21, 2022When a Texas-based manufacturing company needed a working capital facility to meet increased demand in the energy sector, they sought a trusted and reliable partner to fuel their growth plans. Republic Business Credit collaborated with private equity sponsors to structure a factoring facility that doubled their availability while maintaining the treasury management services as the incumbent bank.
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