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TSL Express Daily Articles & News
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SPH Group Holdings LLC, Steel Excel Inc. and IGo, Inc. Announce Amended and Restated Credit Agreement with PNC Bank, National Association
On December 29, 2021, SPH Group Holdings LLC, Steel Excel Inc. and IGo, Inc. (collectively, the "Borrowers"), each an indirect wholly-owned subsidiary of Steel Partners Holdings L.P. (the "Company"), amended and restated its Prior Credit Agreement (as defined below) with an amended and restated credit agreement (the "New Credit Agreement"), with PNC Bank, National Association, in its capacity as administrative agent, the Lenders party thereto, and certain of the Borrowers' affiliates in their capacities as guarantors (the "Guarantors" and, together with the Borrowers, the "Loan Parties"). Capitalized terms used but not otherwise defined herein shall have the meanings ascribed to such terms in the New Credit Agreement.
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Citizens Advises CLC Northwest Inc. on Sale of 24 Taco Bell Restaurants
October 13, 2021Trinity Capital, a division of Citizens Capital Markets, Inc., served as the exclusive financial advisor to CLC Northwest, Inc., and affiliates, a Taco Bell and KFC franchisee with 43 restaurants in Washington, Idaho and Montana. CLC Northwest sold its 18 Eastern Washington and six Billings, Montana, area Taco Bell restaurants, including the underlying real estate at seven locations.
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Mira Srinivasan Joins BlueVine's Growing Leadership Team as Chief Risk Officer
October 13, 2021BlueVine, the leading provider of innovative financial services for small businesses, today announced the appointment of Mira Srinivasan as its Chief Risk Officer. In this position, Mira will build on the strong foundation of BlueVine's current Risk team and further improve underlying policies, customer experience, and risk models and underwriting. She will report to Steve Allocca, COO at BlueVine.
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PNC Achieves National Expansion With Conversion Of BBVA USA Completion of Largest Conversion in Bank's History
October 13, 2021The PNC Financial Services Group, Inc. (NYSE: PNC) today announced it has completed the conversion of 2.6 million customers, 9,000 employees and nearly 600 branches across seven states from BBVA USA to PNC Bank.
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Ampla Secures $250 Million Commitment to Accelerate Growth of Tech-Enabled Lending Platform
October 13, 2021Ampla Technologies (together with its affiliates, “Ampla” or the “Company”), a leading provider of tech-enabled financing solutions for emerging consumer brands, today announced it has raised $250 million through its entry into a credit facility agreement with Atalaya Capital Management LP (“Atalaya”), a New York-based alternative asset management firm.
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Alternative Finance Network Announces Groundbreaking M&A Financing For Cannabis Companies
October 13, 2021Alternative Finance Network (AFN), an independent financing network serving cannabis and hemp companies in the U.S. and Canada, announced today that it is bringing new Merger & Acquisition (M&A) financing options to cannabis companies as the M&A market continues to soar in the cannabis space.
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Monroe Capital Supports the Merger of Recycled Plastics Industries, LLC and Highwood USA, LLC
October 13, 2021Monroe Capital LLC (“Monroe”) today announced it acted as administrative agent and sole lead arranger on the funding of a senior credit facility to support the merger of Recycled Plastics Industries, LLC (“RPI”) and Highwood USA, LLC (“Highwood”) by private equity sponsors, Kaho Partners and Nassau Point Investors. The company will operate under the name Premier Outdoor Living.
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Access Capital Closes $5 Million Facility with TPS
October 13, 2021Transformative Pharmaceutical Solutions (“TPS”) is a specialized provider of human capital and proprietary software solutions for the management and execution of clinical trials to the pharmaceutical industry. TPS was founded in 2015 by Daniel Perlman, who has an established track record of building industry-leading companies and pioneering innovative solutions to the clinical trial practice.
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Winston & Strawn LLP Represents Triple-S Steel
October 13, 2021Winston & Strawn LLP represented Triple-S Steel, a Houston-based steel service center that provides steel products and steel fabrication services to customers in North America, Central and South America, and Asia, in connection with its acquisition of BMG Metals, a distributor of steel and aluminum and associated metal processing services, from Descours and Cabaud Inc., a French Industrial and Steel Distributor.
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King & Spalding Adds Six Partners to its Global Human Capital and Compliance Practice
October 12, 2021King & Spalding has added a six-partner team to its Global Human Capital and Compliance (GHCC) practice, with Tom Ahlering, Anne Dana, Gina Merrill, Jenny Neilsson, Jesse Pauker and Pete Wozniak joining across the firm’s Chicago and New York offices.
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Winston & Strawn Represents Dune Acquisition Corporation
October 12, 2021Winston & Strawn is representing Dune Acquisition Corporation (Nasdaq: DUNEU, DUNE, DUNEW) (“Dune”), a special purpose acquisition company, in connection with its definitive agreement for their business combination with TradeZero Holding Corp. (“TradeZero” or the “Company”), which through its U.S. and Bahamas based broker-dealers offers a next-generation trading platform targeting the global active trader community, which would result in TradeZero becoming a publicly listed company.
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Monterey Financial Services Acquires Continental Central Credit, Solidifying Their Position as a Leader in Debt Recovery Solutions
October 12, 2021With the acquisition of Continental Central Credit, Monterey will broaden its customer base and give the former Continental clients the gold star level of service and integrity they are used to with the added value of Monterery’s advanced technological practices.
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Rosenthal Provides $5 Million Joint Factoring, Inventory and Purchase Order Financing Facility for Major Office Furniture Manufacturer
October 12, 2021Rosenthal & Rosenthal, Inc., one of the leading factoring, asset based lending and purchase order financing firms in the U.S., today announced the completion of a recent $5 million joint factoring, inventory funding and purchase order financing facility to support the growth capital needs of a Georgia-based manufacturer and distributor of office furniture and products.
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TD Bank Adds Free Invoicing Function to its Business Simple Checking Accounts to Help Small and Micro Businesses Get Paid Faster
October 12, 2021TD Bank, America's Most Convenient Bank® announced today that it has expanded its collaboration with Autobooks to add invoicing as a feature to its TD Business Simple Checking, making it easier for small and micro businesses to process invoices and get paid faster. With this collaboration, TD Bank is one of the first major financial institutions to provide this tool and make it a standard part of the digital banking experience.
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SG Credit Provides $3.5 Million High Net Worth Guarantor Loan
October 12, 2021SG underwrote the real estate as well as the outside personal assets of the Guarantor. Given the location and liquidity of the underlying real estate collateral, coupled with the strength of the Guarantor's personal balance sheet, SG was comfortable providing a high LTV loan. SG moved quickly to meet the timing constraints and closed within three (3) weeks from executed term sheet.
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LSQ Provides $5MM Facility to Foreign-Based Metals Recycler
October 12, 2021LSQ, a leading provider of working capital solutions, announced the origination of a $5 million facility for a European metals recycler entering the U.S. market. The facility will help address the rising demand for metal alloys, allowing the business to purchase property and processing equipment while offsetting cash flow gaps created by an average DSO of 83 days.
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SLR Healthcare ABL Provides Financing for a Skilled Nursing Operator
October 12, 2021SLR Healthcare ABL is pleased to announce it has provided a $7 million asset-based revolving line of credit financing to a skilled nursing operator.
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HyperAMS & Liquid Asset Partners Announce Retail Liquidation Joint Venture
October 12, 2021HyperAMS, LLC and Liquid Asset Partners, LLC are pleased to announce a new joint venture, HyperLiquid Retail Solutions, to focus on retail inventory and store closing liquidations. HyperLiquid will utilize decades of experience and specialties of both businesses to provide retail clients with more flexibility, lower costs, and scalable solutions for a variety of asset disposition needs.
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Secured Finance Foundation Announces New Board for 2022
October 12, 2021“This is a group of very dedicated individuals who have deep experience in the secured finance business, and are highly invested in helping to shape the future of our industry and the communities we serve,” said incoming Chairman William D. Brewer, Partner at Winston and Strawn LLP.
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Leading Finance Technology Provider IDS Is Now Solifi
October 12, 2021IDS and its acquired companies, William Stucky and Associates and White Clarke Group, today announced the launch of a new company identity: Solifi. The new brand and visual identity bring together innovative solutions, deep industry expertise, global reach, and a unified technology platform designed to enable our customers to deploy capital to power global commerce. Solifi is reshaping the secured finance industry by delivering solutions that guard, guide, and grow our customers’ businesses.
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Urban Grid Closes $275M Debt Refinance Provided By Crayhill Capital Management
October 12, 2021Urban Grid, one of the largest U.S. greenfield renewable energy project developers, announced today that it has expanded and extended its partnership with Crayhill Capital Management, a New York-based, minority-owned private credit manager focused on asset-based investments in the renewable energy sector.
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