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

  • 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.
  • Santander Bank Provides $50 Million Revolver to DB Energy Assets
    November 2, 2020
    Santander Bank today announced that its Commercial Banking division provided a $50 million revolving loan to DB Energy Assets, LLC (“DBE”) to support the expansion of its portfolio through the acquisition of an additional operating energy facility in Delaware. The revolver enabled DBE, an operating portfolio of well-established, long-term contracted district energy systems and cogeneration assets, to access the necessary funds to complete the acquisition and cover related expenses.
  • Fifth Third Business Capital Provides Senior Debt Financing for ARC Group Worldwide
    November 2, 2020
    ARC Group Worldwide, Inc. offers its customers a compelling portfolio of advanced manufacturing technologies and cutting-edge capabilities to improve the efficiency of traditional manufacturing processes and accelerate their time to market.  In addition to being a world leader in metal injection molding, ARC has significant expertise in prototyping, advanced tooling, automation, machining, plastic injection molding, lean manufacturing, and robotics. ARC's mission is to bring innovation and technology to manufacturing.
  • SSG Advises Metal Partners Rebar, LLC and its Affiliates in the Sale of Substantially all of its Assets
    November 2, 2020
    SSG Advisors, LLC ("SSG") acted as the investment banker to Metal Partners Rebar, LLC and its affiliates (collectively "MPR" or the "Company") in the sale of substantially all of its assets to JRC OpCo LLC ("JRC"). The sale was effectuated through a Chapter 11 Section 363 process in the U.S. Bankruptcy Court for the District of Nevada. The transaction closed in October 2020.
  • Gemino Healthcare Finance Provides $15 Million to an Infusion Therapy Provider
    November 2, 2020
    Gemino Healthcare Finance is pleased to announce it has provided a $15 million asset-based revolving line of credit to an infusion therapy provider in September 2020.
  • SFNet Comment Letter to California DBO on Proposed Regulations for Implementation of Commercial Financing Disclosures
    October 30, 2020
    The CA DBO has now published a set of regulations and SFNet has submitted a comment letter. SFNet has been working to address compliance issues throughout the legislative and rule-making process.
  • JCPenney Signs Asset Purchase Agreement with Brookfield, Simon and First Lien Lenders, Charting Course for the Future
    October 29, 2020
    J. C. Penney Company, Inc. (OTCMKTS: JCPNQ) today announced that it has entered into an asset purchase agreement (“APA”) with Brookfield Asset Management, Inc (“Brookfield”), Simon Property Group (“Simon”) and a majority of the Company’s DIP and First Lien Lenders (“Majority First Lien Lenders”). Kirkland & Ellis LLP is serving as legal adviser, Lazard is serving as financial adviser, and AlixPartners LLP is serving as restructuring adviser to the Company. Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as legal counsel to Brookfield and Simon.
  • Sallyport Commercial Finance Funds Canadian Security Firm with a $4,000,000 Accounts Receivable Line of Credit
    October 29, 2020
    Sallyport Commercial Finance opens a $4,000,000 accounts receivable facility to a large Canadian Security Firm. After several lenders reviewed and passed on the business, the company was introduced to Sallyport who took the time to listen and structure a solution that will benefit the business for long term expansion.
  • Gordon Brothers Reviews U.S. Retail Trends in Advance of November 3 Election
    October 29, 2020
    Gordon Brothers, the global advisory, restructuring and investment firm, has published an article examining the effects election years can have on consumer spending and different retail sectors in the U.S. Authors Rick Edwards, President of Retail, and Liz Sarhaddi-Blue, Managing Director of Retail, provide an analysis of the current state of retail, sector shifts in advance of the 2020 election and how proposed policies, like a second stimulus package, may affect the ever-evolving retail industry.
  • Alvarez & Marsal Expands CFO Services Team to Meet Growing Demand
    October 29, 2020
    Leading global professional services firm Alvarez & Marsal (A&M) has appointed Dallas-based Omar Mata a Managing Director in its Private Equity Performance Improvement group. Mr. Mata joins the group’s expanding CFO Services vertical, where he will focus on assisting organizations improve their finance/accounting functions to positively impact business performance. His appointment is in response to increasing demand for critical finance transformation and performance improvement.
  • Monroe Capital Supports Vector Capital’s Acquisition of MarkLogic Corporation
    October 29, 2020
    Monroe Capital LLC (“Monroe”) today announced it acted as sole lead arranger and administrative agent on the funding of a senior credit facility and equity co-investment to support the acquisition of MarkLogic Corporation (“MarkLogic”) by private equity sponsor Vector Capital. Based in San Carlos, California, MarkLogic is a leading provider of enterprise data integration and data management solutions.
  • A&G Executives: 'New Normal' Spurs Schools to Rethink their Real Estate
    October 29, 2020
    Trustees are scrutinizing real estate holdings in education as never before, noted two executives from A&G Real Estate Partners in a webinar conducted by The Association of Governing Boards of Universities and Colleges (AGB). "The pandemic is fast-forwarding business models that were already pivoting to take into account declining enrollments, reductions in state funding, higher debt loads and more distance learning," said Andy Graiser, Co-President of A&G. "At the board level, there's a growing focus on ramping up the efficiency of real estate."
  • Wingspire Capital Provides $60 Million Senior Secured Financing to Franchise Group Inc.
    October 29, 2020
    Wingspire Capital LLC (“Wingspire”) is pleased to announce the funding of a $60 million senior secured working capital facility to Franchise Group Inc., the owner and operator of franchised retail stores. Proceeds were used to refinance the borrower’s existing ABL credit facility in addition to providing a more flexible and cost-effective credit facility for the company going forward.
#3 -_ 1 (1)