TSL Express Daily Articles & News

To submit company news and press releases to
TSL Express, email tslexpress@sfnet.com.

Today's Top Story



TSL Express Trending Story

TSL Express Daily Headlines & News

  • Wells Fargo Company Names Head of Diverse Segments, Representation and Inclusion
    November 3, 2020
    Wells Fargo & Co. said Monday that Kleber Santos will be the head of its new diverse segments, representation and inclusion group. Mr. Santos will join the company on Nov. 9, Wells Fargo said. He joins the company from Capital One, where he was most recently president of retail and direct banking, Well Fargo said.
  • Express Trade Implements Multi-Tranche Facility
    November 3, 2020
    Express Trade Capital, Inc., is pleased to announce a new multi-tranche facility for a New York-based client producing Moroccan condiments. This client has been with Express since June 2015. They began with a factoring facility and, as their sales rapidly grew, so did the need for more funding and services. Having already built a strong relationship over the years, when an opportunity arose to substantially expand their operations facility by 35%, we added an accordion feature to bolster their facilities.
  • Flatbay Capital LLC Closes $2.8MM CRE Loan for Apparel Manufacturer
    November 3, 2020
    Flatbay Capital LLC (“Flatbay”) (www.flatbay.com) announces the closing of a $2,800,000 commercial real estate loan for a national school apparel manufacturer and distributor. The deal was referred to by an asset-based lender and partner of Flatbay who focuses primarily on non-CRE collateral. The client’s working capital line of credit with a large national bank was up for renewal, and although their cash flow position was strong, the bank required a partial pay down to limit exposure.
  • CohnReznick Named Best Audit Firm in Hedgeweek 2020 US Awards
    November 3, 2020
    CohnReznick LLP, one of the leading advisory, assurance, and tax firms in the United States, today announced that Hedgeweek, a major global publication covering hedge fund industry news for investors and fund managers, has recognized CohnReznick as the Best Audit Firm in its 2020 US Awards program. Award winners were notified last evening and invited to attend a virtual awards ceremony and networking event.
  • Second Avenue Capital Partners Supports the Successful Restructuring and Continued Success of Old Time Pottery With Credit Facility
    November 3, 2020
    Old Time Pottery, a Tennessee-based home décor retailer with stores throughout the Southeast and Midwest, has entered into a Senior Secured Credit Agreement agented by Second Avenue Capital Partners (“SACP”) and CIT Northbridge. Proceeds from the credit facility will be used as exit financing, enabling Old Time Pottery’s emergence from a restructuring process and positioning the company for long-term success.
  • TESSCO Technologies Announces New $75 Million ABL Facility, Extending Maturity to 2024
    November 2, 2020
    TESSCO Technologies Incorporated (NASDAQ: TESS), a leading value-added distributor and solutions provider for the wireless industry, today announced that it has entered into a new asset-based revolving credit facility (“ABL Facility”). The new facility provides TESSCO with up to $75 million in revolving credit, maturing in January 2024. This replaces the existing ABL facility, which was set to mature on October 19, 2021.
  • Tecnoglass Announces New $300 Million Credit Facility
    November 2, 2020
    Tecnoglass, Inc. (NASDAQ: TGLS) (“Tecnoglass” or the “Company”), a leading manufacturer of architectural glass, windows, and associated aluminum products for the global commercial and residential construction industries, today announced it has entered into a new $300 million Senior Secured Credit Facility (“Credit Facility”), consisting of a $250 million delayed draw term loan and a $50 million committed revolving credit facility, with a maturity date in 2025. The Credit Facility has an accordion feature allowing the Company to increase the borrowing capacity to $325 million. BBVA USA acted as Administrative Agent, with Citizens Bank, N.A., ING Bank N.V., and Sabadell Bank acting as Joint Lead Arrangers for the Credit Facility.
  • Bank of America Business Capital Names New National Marketing Manager
    November 2, 2020
    Bank of America Business Capital is pleased to announce that Adam Moss has been named National Marketing Manager and will oversee a team of business development officers who provide asset-based solutions and banking products to large and middle market companies, intermediates and financial sponsors across the U.S. and Europe.
  • eCapital Corp. Promotes Tony Howard to Chief Credit and Portfolio Officer
    November 2, 2020
    eCapital Corp. (“eCapital”), a leading alternative finance provider in North America, today announced that Tony Howard, formerly chief credit officer, has been named chief credit and portfolio officer of eCapital Corp. In his expanded role, Howard will oversee and manage credit risk and policy and portfolio performance across the company and participate in acquisition initiatives. The announcement underscores eCapital’s commitment to unifying and aligning its business operations.
  • Huntington Business Credit opens West Coast Asset Based Lending Offices in Los Angeles, San Francisco and Portland; Experienced Bankers to Oversee Regional Location
    November 2, 2020
    Huntington Business Credit opened three new Asset Based Lending offices located in Los Angeles, CA, San Francisco, CA and Portland, OR, to originate and manage new banking relationships in the Western U.S market. Huntington Business Credit hired Tab French, Robert Alexander, Martin Valencia, David Lehner and John Kolb; industry veterans with significant banking and asset-based lending experience.
  • Portman Ridge Finance Corporation Closes Merger with Garrison Capital Inc.
    November 2, 2020
    Portman Ridge Finance Corporation (Nasdaq: PTMN) (the “Company” or “PTMN”) and Garrison Capital Inc. (formerly Nasdaq: GARS) (“GARS”) announced today the closing (the “Closing”) of the previously announced transaction under which GARS will be merged into PTMN. Simpson Thacher & Bartlett LLP served as counsel to PTMN. Keefe, Bruyette & Woods, A Stifel Company served as exclusive financial advisor to the Special Committee of GARS’ Board of Directors. Proskauer Rose LLP served as counsel to GARS and Eversheds Sutherland (US) LLP served as counsel to the Special Committee of GARS’ Board of Directors.
  • Oaktree Specialty Lending Corporation and Oaktree Strategic Income Corporation Announce Entry into Merger Agreement
    November 2, 2020
    Oaktree Specialty Lending Corporation (NASDAQ:OCSL) (“OCSL”) and Oaktree Strategic Income Corporation (NASDAQ:OCSI) (“OCSI”) today announced that they have entered into an agreement to merge together with OCSL as the surviving company, subject to stockholder approval and customary closing conditions. Keefe, Bruyette & Woods, a Stifel Company, served as financial advisor and Stradley Ronon Stevens & Young, LLP serves as the legal counsel to the special committee of OCSL. Houlihan Lokey Capital, Inc. served as financial advisor and Dechert LLP serves as the legal counsel to the special committee of OCSI. Proskauer Rose LLP serves as the legal counsel to OCSL, OCSI and Oaktree.
  • ProntoForms Announces $6 Million Revolving Credit Facility and Warrant Proceeds of $1.96 Million
    November 2, 2020
    ProntoForms Corporation (“ProntoForms” or the “Company”) (TSXV: PFM), the global leader in field-focused low-code application platforms for enterprise, announced today that it has entered a revolving credit facility with Toronto-Dominion Bank (“TD”) for an amount of up to CAD $6 million with a 2-year commitment renewable annually. The facility was partially used to settle the Company’s obligations to BDC Capital Inc. ("BDCC"), a wholly owned subsidiary of the Business Development Bank of Canada.
  • Pacific Drilling Commences Voluntary Chapter 11 Proceedings; Restructuring Support Agreement to Eliminate All $1.1 Billion of Bond Debt
    November 2, 2020
    Greenhill & Co. is acting as financial advisor, Latham & Watkins LLP and Jones Walker LLP are serving as legal counsel, and AlixPartners is acting as restructuring advisor to Pacific Drilling in connection with the restructuring. Houlihan Lokey is acting as financial advisor and Akin Gump Strauss Hauer & Feld LLP is acting as legal advisor to the noteholders.
  • DFG Investment Advisers Appoints Rehan Virani Chief Executive Officer
    November 2, 2020
    DFG Investment Advisers, Inc. (“DFG”), a leading alternative credit investment manager, today announced that Rehan Virani has joined the firm as Chief Executive Officer, effective immediately. Mr. Virani will oversee management of the firm, spearhead strategic fundraising initiatives and develop tailored investment solutions that align investors’ interests with DFG’s core competencies in structured and corporate credit. Mr. Virani most recently served as Head of Business Development for private debt for the Americas and Asia at Partners Group.
  • Citizens Advises KBR, Inc. on its Acquisition of Centauri
    November 2, 2020
    Citizens M&A Advisory served as lead M&A advisor to KBR, Inc. (NYSE: KBR) on its acquisition of Centauri, LLC from Arlington Capital Partners in a transaction valued at approximately $800 million. KBR is a global provider of differentiated professional services and solutions across the asset and program life cycle within the government solutions and technology sectors. KBR employs approximately 28,000 people worldwide with customers in more than 80 countries and operations in 40 countries.
  • Tiger Group Auctioning Inventory and Equipment from Wholesaler of Promotional Apparel and Hardgoods on Nov. 12
    November 2, 2020
    Tiger Group will be conducting online auction on November 12 of textile embellishment and warehouse equipment, blank inventories of apparel and hardgoods, and intellectual property of a wholesale supplier of custom-designed promotional products for the giftware and tourism industries that is now winding down operations.
  • CIBC Innovation Banking Announces Growth Capital Facility for Crunchbase
    November 2, 2020
    CIBC Innovation Banking is pleased to announce a growth capital facility for San Francisco-based Crunchbase Inc. (“Crunchbase”), a leading provider of private-company prospecting and research solutions. Crunchbase's existing investors include OMERS Ventures, Emergence, Mayfield, Cowboy Ventures, and Verizon.
  • Cyprium Partners Completes Subordinated Debt Investment in Kustom US, Inc.
    November 2, 2020
    Cyprium Partners has completed a subordinated debt investment in Kustom US, Inc., to support the acquisition of Zion Restoration Inc. and provide capital for future acquisitions. This recent investment from Cyprium Investors V, marks the group's 92nd investment during its 22-year history and second since the beginning of the COVID-19 crisis.
  • Funding U Closes $14M Debt/Equity Round With Goldman Sachs as Provider of Credit Facility
    November 2, 2020
    Funding U, a financial technology company serving high-performing, underrepresented college students, has closed a $14 million debt/equity round and has added Goldman Sachs Urban Investment Group to its roster of credit providers, with a $10 million line of credit. Investors providing $4 million in equity include Deciens Capital, Valor Ventures, MacKenzie Scott, Next Act Fund LLC and The JumpFund.
#3 -_ 1 (1)