- Rostrum Pacific Secures $150 Million in Financing from Crayhill Capital Management to Accelerate Music Catalog Growth Strategy
- Armory Securities, LLC Announces the Successful Closing of a Credit Facility for Copper Cane Wines & Provisions
- Wolters Kluwer Indicator Survey Finds Lower Concern Levels Following Significant Drop in Regulatory Penalties
- ArentFox Schiff Welcomes Corporate Partner Julia Zhu-Morelli in Los Angeles
- Westwood Financial Expands Corporate Credit Facility By $145 Million To $470 Million Total
TSL Express Daily Articles & News
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Citizens Leads $1.2 Billion Asset-Based Senior Credit Facilities for PRO Unlimited
Citizens announced today that it has provided financing to San Francisco-based PRO Unlimited Global Solutions Inc.
Established in 1991, PRO Unlimited is a leading provider of end-to-end contingent workforce management solutions to a broad range of global clients and has been a Citizens client for more than 10 years.
The first financing was new $900 million asset-based senior credit facilities, comprised of an $825 million asset-based revolving credit facility and a $75 million First In, Last Out (“FILO”) tranche, to support EQT Private Equity’s acquisition of the company from Harvest Partners, LP and its affiliates and Investcorp.
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TSL Express Daily Headlines & News
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J D Factors Announces Factoring Facilities
October 5, 2021J D Factors announced it provided the following factoring facilities: $500,000 to a transportation company in Quebec; $150,000 to a transportation company in Texas; $200,000 to a transportation company in New Jersey; $250,000 to a transportation company in Nova Scotia
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AFC Gamma Expands Senior Secured Credit Facility with Justice Cannabis Co. by $53.4 Million
October 5, 2021AFC Gamma, Inc. (NASDAQ:AFCG) (“AFC Gamma”) today announced that it has expanded its senior credit facility by $53.4 million, to $75.4 million in total commitments to Justice Cannabis Co., a Chicago-based multi-state operator with licenses in eight states. The credit facility expansion is designed to provide Justice Cannabis Co. with additional capital to purchase assets and develop its operations in New Jersey, further develop its Pennsylvania cultivation facility and refinance existing debt.
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Rubellite Energy Inc. Announces Closing of Rubellite Financings; and New Credit Facility; and Provides Operations Update
October 5, 2021Rubellite will also today enter into a first lien credit facility with a syndicate of lenders to establish a new $3 million revolving credit facility with an initial term to May 31, 2022 and which may be extended for a further twelve months to May 31, 2023 subject to lender approval.
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Oxford Finance Closes Credit Facility with Endodontic Practice Partners
October 5, 2021Oxford Finance LLC ("Oxford"), a leading specialty finance firm focused on healthcare services and life sciences companies worldwide, today announced the closing of a senior credit facility and revolving line of credit to Endodontic Practice Partners ("EPP" or "the Company"), a River Cities Capital ("River Cities") portfolio company.
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BrandShield Secures Credit Facility With Leumi Bank
October 5, 2021Brand protection technology company BrandShield Systems has entered into an agreement with Leumi Bank to provide a revolving monthly recurring revenue (MRR) credit line facility of up to NIS 8m (£1.8m), it announced on Monday. The AIM-traded firm said the two-year new debt facility, which could be extended upon request, included a "competitive" interest rate, and no associated requisite equity instruments or warrants.
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Renewable Energy Group Increases Line of Credit to $250 Million
October 5, 2021Renewable Energy Group, Inc. (NASDAQ: REGI) announced today that the company has extended and increased its line of credit with Wells Fargo Capital Finance, a division of Wells Fargo Bank, Fifth Third Bank, and Bank of America to a maximum of $250 million. This is a five-year extension through September 2026 of the company’s existing line of credit that was previously in the maximum amount of $150 million and would have matured at the end of September 2021.
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Cynergy Bank Announces ABL Offering To SMEs
October 5, 2021Cynergy Bank has announced that is has developed an asset-based lending (ABL) offering for SME businesses that want to scale up and grow, providing between £200,000 and £20m. The new team consists of Dave Golding, Ted Winterton, Dan Burton and Paul Fraser, all based in Manchester.
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TAB Bank Welcomes New Vice President, Business Development for the Upper Midwest Region, Scott Franzen
October 5, 2021TAB Bank today announced that Scott Franzen will join its Sales Team as a Vice President and Business Development Officer. In this role, Franzen will be responsible for sourcing new business opportunities in the upper Midwest region. Based in Albertville, Minnesota, Franzen will provide asset-based and factoring working capital resources to commercial businesses throughout northern Midwestern states with annual revenues ranging from $2 million to $150 million.
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Taseko Mines Announces New US$50 Million Revolving Credit Facility and Update on Florence Copper Permitting
October 5, 2021Taseko Mines Limited (TSX: TKO) (NYSE MKT: TGB) (LSE: TKO) ("Taseko" or the "Company") is pleased to announce that it has signed a US$50 million Revolving Credit Facility (the "Facility"). The Facility, which is arranged and fully underwritten by National Bank of Canada, will be available for working capital and general corporate purposes.
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MidCap Business Credit Closes on a $3,500,000 Asset-based Revolving Line of Credit for Momenta, Inc.
October 4, 2021The opportunity was sourced out of Midcap’s headquarters located in West Hartford, CT. Seth Cooper, Senior Vice President of MidCap Business Credit said, “We were able to structure a credit facility which provided the company with the additional liquidity they need to execute on their strategic plan and support their growth”.
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Teacher Retirement System of Texas and CIFC Create a Fund Platform to Invest in Senior Secured Loans
October 4, 2021Teacher Retirement System of Texas (“TRS”) and CIFC Asset Management LLC (“CIFC”) have announced the creation of a new leveraged loan investment fund platform known as Texas Debt Capital LP (“TDC”). A CIFC affiliate is the general partner and investment manager of TDC. TRS is the anchor investor limited partner and has committed significant equity to the fund. The fund will initially provide for up to $2 billion loan purchasing capacity in U.S. and Europe.
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Winston & Strawn LLP Represents Ranger Energy Services, Inc.
October 4, 2021Winston & Strawn LLP represented Ranger Energy Services, Inc. (NYSE: RNGR), an independent provider of well service rigs and associated services in the United States, in the closing of its previously announced acquisition of certain assets of Basic Energy Services, Inc. and its subsidiaries through its controlled subsidiary Ranger Energy Acquisition, LLC. The assets were sold by Basic as part of its bankruptcy process. The agreement to purchase the assets was approved by the United States Bankruptcy Court on September 23, 2021.
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Glass Mountain Announces Entry Into Restructuring Support Agreement With Over Two-Thirds of Lenders to Effectuate Comprehensive Balance-Sheet Restructuring
October 4, 2021Glass Mountain Pipeline Holdings LLC (the “Company” or “Glass Mountain”) announced today that, with the support of its equity sponsor GEPIF Glass Mountain Pipeline LLC (the “Sponsor”) and lenders holding 66.97% of the Company’s revolving and term loans (the “Consenting Lenders”), it has entered into a Restructuring Support Agreement (the “RSA”) that provides for the elimination of over $230 million in debt from the Company’s balance sheet and a $45 million investment from the Sponsor.
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IPC Systems Announces Comprehensive Agreement to Reduce Debt and Provide Significant Equity Capital to Support Long-Term Business Plan
October 4, 2021IPC Systems, Inc. ("IPC" or the "Company"), a leading global provider of secure, compliant communications and networking solutions for the global financial markets, today announced that it has entered into a Transaction Support Agreement (the "Agreement") with its key stakeholders, which will reduce the Company's debt by over $400 million, extend its debt maturity schedule by 5 years, and provide new capital of $125 million to deliver the resources for investment in long-term growth strategies. IPC's professional advisors included Kirkland & Ellis and Evercore.
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Matrix Announces The Successful Sale Of Lykins Companies, Inc.
October 4, 2021Matrix Capital Markets Group, Inc. (“Matrix”), a leading, independent investment bank, announces that it has advised Lykins Companies, Inc., t/a Lykins Energy Solutions, (“Lykins” or the “Company”) on the sale of the Company’s commercial fuels, heating oil & propane, wholesale fuels, and electricity divisions. The commercial fuels, heating oil & propane division (collectively, “Bulk Fuels”) was acquired by World Fuel Services. T
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Abacus Finance Provides Senior Debt Financing to Support the Recapitalization of Next Net Media, LLC, a Clearview Capital Portfolio Company
October 4, 2021Abacus Finance Group, LLC – a leading provider of cash flow-based, classic senior debt for sponsor-led buyouts of companies – today announced that it served as Senior Secured Credit Facilities Administrative Agent and Lead Arranger for senior secured credit facilities to support the recapitalization of Next Net Media, LLC, a Clearview Capital portfolio company. Abacus also made an equity co-investment in Next Net Media.
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Centerspace Improves And Extends Credit Line; Repays Bank Loans
October 4, 2021Centerspace (NYSE: CSR) announced today that it has amended and extended its existing $250 million revolving credit facility. Bank of Montreal served as administrative agent for the extension of the credit facility with BMO Capital Markets Corp., BofA Securities, Inc. and PNC Capital Markets, LLC as, joint lead arrangers and joint book runners.
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Sterling Bancorp, Inc. Promotes Karen Knott to Chief Financial Officer
October 4, 2021Sterling Bancorp, Inc. (the “Company”) (NASDAQ: SBT), the thrift holding company for Sterling Bank and Trust, F.S.B. (the “Bank”), today announced that Karen Knott, current Senior Vice President and Controller, has been promoted to the role of Chief Financial Officer of the Company and the Bank. Ms. Knott’s promotion to Chief Financial Officer for the Bank is subject to the receipt of regulatory non-objection from the Office of the Comptroller of the Currency.
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Banc of California and Pacific Mercantile Bancorp Announce Receipt of Final Regulatory Approval
October 4, 2021Banc of California, Inc. (NYSE: BANC) (the “Company”) and Pacific Mercantile Bancorp (NASDAQ: PMBC) (“Pacific Mercantile”) today announced that all required regulatory approvals for the mergers of Pacific Mercantile into the Company and Pacific Mercantile Bank into Banc of California, N.A. have been received. Subject to the satisfaction of the remaining closing conditions, the transaction is scheduled to close on or about October 18, 2021.
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Winston & Strawn Represents BofA Securities and Wells Fargo Securities, LLC
October 4, 2021Winston & Strawn represented BofA Securities and Wells Fargo Securities, LLC as joint bookrunners in connection with Berenson Acquisition Corp. I (the "Company") initial public offering of 25,000,000 units.
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