- Pemberton Appoints Dominic Courtman to Lead its CLO Platform
- Ajay Tailor Joins Cohnreznick as Assurance Partner in Commercial Real Estate
- Winston Taylor adds Digital Assets Partner Michael Frisch in Chicago
- Ares Strengthens Commitment to Plenitude Through €1 Billion Capital Contribution
- Fortress Investment Group Leads $265 Million Financing for Advanced Computing Infrastructure Provider SourceCode
TSL Express Daily Articles & News
To submit company news and press releases to TSL Express, email tslexpress@sfnet.com.Today's Top Story
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CIT Increases Lending Facility for Fashion Company to $100 Million
CIT Commercial Services , a subsidiary of First Citizens Bank, today announced that it increased a New York-based fashion company’s discretionary lending facility to $100 million to support the acquisition of an entity that specializes in children’s apparel.
TSL Express Trending Story
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On April 30, 2020, the Federal Reserve announced that it is expanding eligibility to participate in the Federal Reserve’s Paycheck Protection Program Liquidity Facility (the “PPPLF”) to all lenders eligible to originate Paycheck Protection Program loans.[1] The PPPLF permits eligible PPP lenders to pledge PPP loan notes to the Federal Reserve in exchange for a low interest, non-recourse loan from the Federal Reserve in the amount of the pledged PPP loan note.
Program Update
When originally announced, the PPPLF was only available to PPP lenders that are depository institutions. Now, all PPP lenders approved by the SBA, including banks, credit unions, Community Development Financial Institutions, members of the Farm Credit System, small business lending companies licensed by the SBA, and some financial technology firms, are eligible to participate in the PPPLF.
TSL Express Daily Headlines & News
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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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CE Brands Enters Into Financing Arrangement for a $12 Million Secured Credit Facility and Appoints new CFO
December 19, 2022CE Brands Inc. (TSXV: CEBI; CEBI.WT) (“CE Brands”, “we”, “our”, or the “Company”), a data-driven consumer-electronics company, today announced that it has entered into a binding financing arrangement with Vesta Wealth Partners Ltd. (“Vesta”), pursuant to which Vesta will provide a secured revolving credit facility of up to CA$12,000,000 (or US dollar equivalent) to the Company (the “Credit Facility”) to be used for the working capital needs of the Company.
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SLR Digital Finance Closes $5 Million Credit Facility for Audigent, the leading Data Curation Platform
December 19, 2022SLR Digital Finance LLC (“SLR Digital Finance”) announces the funding of a $5 million credit facility for Audigent, the leading data activation, curation and identity platform for the media industry. Audigent’s next-generation curated marketplaces – SmartPMPs™, ContextualPMPs™, and CognitivePMPs™ – are revolutionizing how data and identity are actioned across programmatic media channels.
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Wells Fargo Introduces Emerging Middle Market Offering to Metro NY/NJ Area
December 19, 2022Wells Fargo & Co. launched a new segment in the region to serve businesses in the $10 million to $75 million range. The San Francisco-based financial services company announced the launch of its emerging middle market segment within its Metro NY/NJ commercial team Dec. 15, along with leaders for each of the neighboring states.
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First Business Bank’s Asset-Based Lending Group Funds $9.2 Million Credit Facility
December 19, 2022Mike 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 $9.2 million revolving line of credit, equipment term loan, and structured overadvance for the acquisition of a manufacturer of home building supplies.
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MidCap Financial Closes Senior Secured Credit Facility to Mervin Manufacturing
December 19, 2022MidCap Financial (“MidCap”), a leading commercial finance company focused on middle market transactions, announced this week it has provided a $10 million revolving line of credit and $5 million senior secured term loan to Mervin Manufacturing, Inc. (“Mervin”).
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DSD Closes $155 Million Financing for First-of-its-Kind ABS with Community Solar
December 19, 2022DSD Renewables (DSD) has raised $155 million in debt financing for the first commercial and industrial (C&I) solar asset-backed securitization (ABS) with a significant concentration of community solar assets. The transaction, which is DSD’s first issuance of asset-backed securities, was structured and underwritten by Credit Suisse Securities (USA) LLC.
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AustralianSuper and Churchill Asset Management announce new lending partnership
December 19, 2022AustralianSuper, Australia's largest superannuation (pension) fund, today announced a new partnership with Churchill Asset Management ('Churchill'), with an initial instalment of US$250 million, intended to grow substantially over time. The partnership will invest in traditional senior and unitranche loans to private equity-backed U.S. middle market companies.
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