- esVolta Secures Upsized Corporate Credit Facility to Support Expansion of Energy Storage Portfolio
- AIP Capital Announces Matt Stevens as Managing Director, Americas
- Silver Point Provides Debt Financing for Acquisition of Signal Peak Silica byIron Oak Energy Solutions
- Prairie Operating Co. Reaffirms $475 Million Credit Facility and Advances Series F Preferred Refinancing Initiatives
- CIT Northbridge Provides $25 Million Credit Facility to Huron Valley Steel Corporation
TSL Express Daily Articles & News
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Rosenthal Provides $1.2 Million ABL Facility to Specialty Foods Distributor, Partner Foods Group
Rosenthal & Rosenthal, Inc., the leading factoring, asset-based lending, purchase order financing, d2c and e-commerce inventory financing firm in the United States, today announced the completion of a recent joint $1.2 million revolving asset-based lending facility to support Partner Foods Group, a domestic specialty foods importer and distributor.
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Robert J. Giuffra, Jr. and Scott Miller Become Co-Chairs of Sullivan & Cromwell LLP
January 4, 2022Sullivan & Cromwell LLP announced today that Robert J. Giuffra, Jr. and Scott Miller have become Co-Chairs of the firm, effective January 1, 2022. Mr. Giuffra and Mr. Miller have served as Vice Chairs of the firm since January 2021. They succeed Joseph C. Shenker, the firm’s Chair since 2010, who will continue to serve on the firm’s Management Committee as Senior Chair in addition to continuing with his active client practice.
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United Community Banks, Inc. Announces Completion of Merger with Reliant Bancorp, Inc. and Reliant Bank
January 4, 2022D.A. Davidson & Co., Morgan Stanley & Co. LLC and Piper Sandler & Co. acted as financial advisors to United, and Nelson Mullins Riley & Scarborough LLP served as United’s legal advisor. Raymond James & Associates, Inc. and Credit Suisse Securities (USA) LLC served as financial advisors to Reliant, and K&L Gates LLP served as Reliant’s legal advisor.
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First Citizens Completes Merger With CIT Group
January 4, 2022First Citizens BancShares Inc. (NASDAQ: FCNCA) ("First Citizens"), parent company of First-Citizens Bank & Trust Company ("First Citizens Bank"), today announced completion of its previously announced merger with CIT Group Inc. ("CIT"). North Carolina-headquartered First Citizens is now a top 20 U.S. financial institution (based on assets), with more than $100 billion in assets, and the largest family-controlled bank in the nation.
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OSI Systems Expands Credit Facility to $750 Million
January 3, 2022Wells Fargo Securities, LLC, BofA Securities, Inc. and JPMorgan Chase Bank, N.A. served as Joint Lead Arrangers and Joint Bookrunners. Wells Fargo Bank, National Association, will serve as the Administrative Agent on the amended credit facility.
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Abraxas Announces Comprehensive Restructuring, Transformation into Pure-Play Delaware Basin Company
January 3, 2022Abraxas Petroleum Corporation, a Nevada corporation (“Abraxas” or the “Company”) (OTCQX:AXAS), today announced (i) the cash sale of its Williston Basin assets to Lime Rock Resources for $87.2MM, (ii) the repayment of all of its revolving credit facility and (iii) the exchange of its entire Second Lien Term Loan held by Angelo Gordon Energy Funding, LLC (“Angelo Gordon” or “AG”) into newly authorized Series A Preferred Stock.
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Armstrong Flooring Announces Amendments to ABL And Term Loan Facilities
January 3, 2022Armstrong Flooring, Inc. (NYSE:AFI) a leader in the design and manufacture of innovative flooring solutions, announced it has successfully amended its ABL Credit Facility and Term Loan Facility today. These amendments, which received unanimous support from the Company's ABL and Term Loan lenders, provide certain covenant modifications under the Company's ABL and Term Loan facilities through June 30, 2022.
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Atento Announces Signing of new Super Senior Revolving Credit Facility
January 3, 2022Atento S.A. (NYSE: ATTO, "Atento"), one of the world's five largest providers of customer relationship and business process outsourcing (CRM / BPO) services and sector leader in Latin America, announced today that it entered on December 23, 2021 a new super senior revolving credit facility with IDB Invest, the private sector arm of the Inter-American Development Bank.
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International Factoring Association Names Daniel New Executive Director
January 3, 2022The International Factoring Association, the world’s largest association of commercial finance companies, announced that Tania Daniel has assumed the role of Executive Director. Daniel, who has spent her entire career in the factoring industry and is also a long-standing member of the IFA’s Advisory Board, will help lead the association into its next chapter.
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German American Announces Completion of Merger With Citizens Union Bancorp of Shelbyville, Inc. and Citizens Union Bank of Shelbyville, Inc.
January 3, 2022German American Bancorp, Inc. (Nasdaq: GABC) announced today that it has completed its merger with Citizens Union Bancorp of Shelbyville, Inc., the parent company of Citizens Union Bank of Shelbyville, Inc. of Shelbyville, Kentucky, effective at 12:01 a.m. (Eastern time) on January 1, 2022. Immediately following completion of the holding company transaction, Citizens Union Bank merged with and into German American’s banking subsidiary, German American Bank.
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FocalPoint Advises Apex Innovative Sciences on its Corporate Divestiture
January 3, 2022Apex Innovative Sciences, Inc. (“Apex” or the “Company”), a clinical research and site service organization specializing in complex early phase studies, has completed a corporate divestiture of Ocean View Adult Psychiatric Hospital (“Ocean View”). Ocean View was acquired by View Behavioral Health (“View”), an investment group led by former Divisional President, Jack Stephens. FocalPoint Partners (“FocalPoint”) served as exclusive financial advisor to the Company.
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Velocity Risk Announces Acquisition by Oaktree
January 3, 2022Velocity Risk Underwriters, LLC (“Velocity Risk”), a catastrophe-focused property and specialty insurance risks managing general agent (“MGA”), has announced its acquisition by funds managed by Oaktree Capital Management, L.P. (“Oaktree”), a leading global investment manager specializing in alternative investments.
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Urgently Secures Up to $75 Million in New Financing from Highbridge, Onex Credit and Whitebox Advisors
January 3, 2022Urgently, a leading provider of digital roadside and mobility assistance services, announced today it has secured up to $75 million in debt financing from certain funds managed by Highbridge Capital Management, LLC (“Highbridge”), Onex Credit and Whitebox Advisors, that will help the company advance its mission to transform the legacy roadside assistance market and to develop and define the new market for connected mobility assistance services for automotive, insurance, fleet, logistics, new mobility and technology transportation companies. In addition, Structural Capital refinanced and increased its existing debt facility with Urgently to $17.5 million.
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Former MUFG Americas Head Tapped as Next Va. Finance Secretary
January 3, 2022Stephen Emery Cummings, who retired in March as the president and CEO of Mitsubishi UFJ Financial Group (MUFG) in the Americas, has been chosen as Virginia’s next secretary of finance, Gov.-elect Glenn Youngkin announced Wednesday.
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Dominion Lending Centres Announces Closing of Credit Facilities
January 3, 2022Dominion Lending Centres Inc. (TSXV:DLCG) (“DLC” or the “Corporation”) is pleased to report that it has closed its new credit facilities with Toronto-Dominion Bank, the terms of which were previously announced by the Corporation on November 29, 2021.
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Harris Williams Advises WhiteWater Express Carwash On Its Recapitalization By Freeman Spogli & Co.
January 3, 2022Harris Williams, a global investment bank specializing in M&A advisory services, announces it advised WhiteWater Express Carwash (WhiteWater), a portfolio company of SkyKnight Capital L.P. (SkyKnight), on its recapitalization led by Freeman Spogli & Co. (Freeman Spogli). WhiteWater is an express car wash platform with over 60 locations headquartered in Houston. The transaction was led by Jershon Jones, Jason Bass, Joe Conner, Jonathan Meredith, Nick Petrick and Matt Williamson of the Harris Williams Transportation & Logistics (T&L) Group.
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Capital Southwest Supports Xyresic’s Investment in Tele-Town Hall, LLC
January 3, 2022Capital Southwest Corporation (“Capital Southwest”) (Nasdaq: CSWC), an internally managed business development company focused on providing flexible financing solutions to support the acquisition and growth of middle market businesses, announced today that it backed Xyresic Capital’s (“Xyresic”) acquisition of Tele-Town Hall LLC (“TTH” or the “Company”) with a senior secured first lien term loan and a second lien term loan. Capital Southwest led the financing and will act as the sole administrative agent on the facility.
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Season’s Greetings from Siena
January 3, 2022More than ever, the past two years have underscored how we are all connected. In the spirit of giving and sharing, Siena has donated to several food pantries and soup kitchens across the country on behalf of our employees and clients.
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Parker, Hudson, Rainer & Dobbs LLP is Pleased to Announce Kelley C. Gass Has Been Admitted to the Partnership as of January 1, 2022
January 3, 2022Parker, Hudson, Rainer & Dobbs LLP is pleased to announce commercial finance attorney Kelley C. Gass has been admitted to the partnership as of January 1, 2022. Kelley is a member in the firm’s Commercial Finance practice group, representing national and regional banks and other financial institutions in a broad spectrum of secured lending transactions. Her work includes asset-based financings, syndicated loan facilities, healthcare financings, acquisition financings, and debtor-in-possession financings.
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Celtic Capital Corporation Provides Financing for a PA-based Precision CNC Machine Shop
January 3, 2022Celtic Capital provided a $500,000 accounts receivable line of credit and a $630,000 equipment loan to accomplish the company’s objectives.
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Bitfarms Secures $100 Million Credit Facility
January 3, 2022Bitfarms Ltd. (NASDAQ: BITF // TSXV: BITF), a global Bitcoin self-mining company, secured a $100 million credit facility with Galaxy Digital LLC backed by Bitcoin (BTC).
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