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- Horizon Technology Finance and CR Financial Holdings Form New $100 Million Joint Venture
- Honigman Expands to 14 in Israel with Technology Transactions Attorney Adam Snukal
- SG Credit Announces a Senior Debt Investment in Mezcla
- Chicago Atlantic Agents a Senior Secured Facility to Support the Acquisition of Lionel Holdings, LLC by Round 2 Holdings, LLC
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PLAYSTUDIOS Announces New $75 Million Revolving Credit Facility
PLAYSTUDIOS, Inc. (Nasdaq: MYPS) (“PLAYSTUDIOS” or the “Company”), an award-winning developer of free-to-play casual mobile and social games that offer real-world rewards to loyal players, announced today that it has entered into a new $75 million, five-year secured revolving credit facility (“New Credit Facility”) to support its future growth initiatives. The New Credit Facility also provides the Company with an option to increase the credit facility for up to an additional $75 million.
JPMorgan Chase Bank, N.A., Silicon Valley Bank and Wells Fargo Securities, LLC, served as joint bookrunners and joint lead arrangers. JPMorgan Chase Bank, N.A., serves as the administrative agent.TSL Express Trending Story
TSL Express Daily Headlines & News
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Ryman Hospitality Properties, Inc. Successfully Extends Credit Facility Waiver Period
December 22, 2020Ryman Hospitality Properties, Inc. (NYSE: RHP) (the “Company”) announced that today it completed a second amendment to the credit agreement governing its $700 million revolving credit facility, $300 million Term Loan A facility and its Term Loan B facility (of which approximately $382.5 million is outstanding), which was obtained from a consortium of banks led by Wells Fargo Bank, National Association, as administrative agent.
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Utica Leaseco Agrees to Ubiquity Solar Acquiring the Rights to the Assets of Alta Devices
December 22, 2020Ubiquity Solar Inc. (Ubiquity), a photovoltaic (PV) technology company, and Utica Leaseco, LLC (Utica), an asset-based specialty finance company, are pleased to announce the execution of a definitive agreement, whereby Ubiquity has procured from Utica rights to the intellectual property, R&D, production, inventory and other assets (the GaAs Assets) previously part of Alta Devices (Alta) of Sunnyvale, CA. As part of the parties’ transaction, Utica will acquire certain warrants to purchase capital stock of Ubiquity.
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Specialist Risk Group to be Acquired by HGGC
December 22, 2020Specialist Risk Group ("SRG"), a fast-growing specialist insurance broker, today announced that it has signed a definitive agreement to be acquired by leading middle-market private equity firm HGGC. SRG's management team will invest alongside HGGC and continue to hold a significant stake in the business. The private transaction is expected to close in Q1 2021, subject to regulatory approval. As part of the transaction, existing investor Pollen Street Capital will exit the business.
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Gerald Group Closes Oversubscribed Revolving Credit Facility
December 22, 2020Gerald Group ("Gerald"), the world's largest independent, employee-owned metals trading house is pleased to have successfully executed its eleventh annual Revolving Credit Facility ("RCF") for US$ 150 million. Gerald Group, supported by its relationship banks Credit Agricole, Credit Suisse, Deutsche Bank, DBS Bank, ING Bank, Rabobank, Banco do Brasil, Banque Cantonale Vaudoise, Erste and UniCredit arranged, documented and executed the RCF within record time of under 2 months.
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Battle North Gold Signs Commitment Letter for a US$40 Million Credit Facility to Fully Fund the Development of the Bateman Gold Project
December 22, 2020Battle North Gold Corporation (TSX: BNAU) (OTCQX: BNAUF) ("Battle North" or the "Company") is pleased to announce that it has executed a binding commitment letter (the "Commitment Letter") with Macquarie Bank Limited ("Macquarie") for a senior secured term loan facility of US$40 million ("Credit Facility") to be used to fund the construction of the 100%-owned, shovel-ready Bateman Gold Project (the "Project")[1] in Red Lake, Ontario, Canada. The proceeds of the Credit Facility, together with cash currently on the Company's balance sheet, is expected to fully fund the Project to Commercial Production.
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8minute Solar Energy Upsizes Letter of Credit Facility to $350 Million and Welcomes Three Leading Project Finance Banks
December 22, 2020After securing a $225 million letter of credit and revolving credit facility earlier this year, 8minute Solar Energy (8minute) has significantly upsized that facility to a total of $350 million with support from new lenders. The additional $125 million in commitments comes from the existing lenders who are joined by Deutsche Bank, Landesbank Hessen-Thüringen (Helaba), and Norddeutsche Landesbank (NORD/LB). Latham & Watkins LLP represented 8minute and Norton Rose Fulbright LLP represented the lenders.
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Pacific Mercantile Bank Expands Relationship with Simpson Sandblasting & Special Coatings, Inc.
December 22, 2020Pacific Mercantile Bank (“the Bank”), the wholly owned subsidiary of Pacific Mercantile Bancorp (NASDAQ: PMBC), today announced that it has provided a $2.45 million credit facility to Simpson Sandblasting & Special Coatings, Inc. (“Simpson Sandblasting”), a company that first became a client of Pacific Mercantile through the Bank’s participation in the Small Business Administration (“SBA”) Paycheck Protection Program (“PPP”). The new credit facility will be utilized to refinance an existing owner-occupied commercial real estate loan, provide a revolving line of credit for working capital/bonding needs, and provide financing for equipment purchases.
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SAExploration Successfully Completes Financial Restructuring
December 22, 2020SAExploration Holdings, Inc. (“SAE” or the “Company”) announced today that it has successfully completed its financial restructuring and emerged from Chapter 11 as a private, non-SEC reporting company. As a result of its plan of reorganization, which received broad support from its creditors, the Company has reduced its debt by approximately $74 million, net, thus positioning the Company for future growth. Porter Hedges LLP acted as legal counsel and Imperial Capital, LLC and Winter Harbor LLC acted as financial advisors to SAE in connection with its restructuring efforts. Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal counsel to the ad hoc group of certain consenting creditors in connection with the Chapter 11 cases.
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Matrix Advises Tri Gas & Oil On the Successful Acquisition of a Leading Refined Fuels Distributor and HVAC Services Business
December 22, 2020Matrix Capital Markets Group, Inc. (“Matrix”), a leading independent investment bank, announces that Tri Gas & Oil Co., Inc. (“Tri Gas & Oil”) and Comfort Plus Services, LLC (“Comfort Plus Services” or “CPS”) or (collectively, the “Company”) has acquired a leading Delmarva Peninsula based refined fuels distributor and HVAC services business. Tri Gas & Oil, and its predecessor entities, have been delivering fuel and providing high levels of customer service throughout the Delmarva Peninsula since the late 1950’s.
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Veteran Banker, Teresa A. Baker, Joins SouthCrest Bank as Senior Vice President, Relationship Manager
December 22, 2020SouthCrest Bank, a division of SouthCrest Financial Group (SCSG: PK) announces the appointment of well-known and respected 15 year banking veteran Teresa Baker as Senior Vice President and Relationship Manager. Her appointment is another key step in SouthCrest Bank’s strategy to become a dominant private business bank for the Atlanta MSA.
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PGIM Private Capital Raises $2.23B for Sixth Mezzanine Fund, PGIM Capital Partners VI, L.P.
December 22, 2020PGIM Private Capital has completed fundraising for PGIM Capital Partners VI, L.P., surpassing its fundraising target with capital commitments of $2.23 billion. PGIM Capital Partners VI is more than 20% larger than Fund V, which closed in 2016. PGIM Private Capital is a leading source of private debt for public and private companies and is the private capital arm of PGIM, the $1.4 trillion global investment management businesses of Prudential Financial, Inc. (NYSE: PRU).
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Monroe Capital Supports Mountaingate Capital’s Investment in Relevate Health Group Inc.
December 22, 2020Monroe Capital LLC (“Monroe”) today announced it acted as sole lead arranger and administrative agent on the funding of a senior credit facility to support the investment in Relevate Health Group Inc. (“Relevate”) by private equity sponsor Mountaingate Capital and Relevate’s strategic combination with Arteric. Based in Cincinnati, Ohio, Relevate is a data-driven marketing products and services communications firm.
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Bridge Bancorp, Inc. and Dime Community Bancshares, Inc. Announce Final Regulatory Approval of Merger of Equals
December 22, 2020Bridge Bancorp, Inc. (Nasdaq: BDGE) (“Bridge”), the parent company of BNB Bank, and Dime Community Bancshares, Inc. (Nasdaq: DCOM) (“Dime”), the parent company of Dime Community Bank, today jointly announced that the parties have received approval from New York State Department of Financial Services to merge Dime Community Bank with and into BNB Bank. The merger is expected to close on February 1, 2021, on which day the combined company will open as the new Dime Community Bank.
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Sterling National Bank Provides $2,500,000 Secured Credit Facilities
December 22, 2020Sterling National Bank's Commercial Services Group provided senior secured credit facilities totaling $2,500,000 to a nationwide talent management company. Sterling National Bank is one of the leading providers of financing and administrative services for staffing and IT consulting firms nationwide.
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CohnReznick Expands in Southwest Houston
December 22, 2020CohnReznick LLP, one of the leading advisory, assurance, and tax firms in the United States, today announced a strategic addition to its national Restructuring and Dispute Resolution practice, extending its footprint in the Southwest and expanding its Houston office. Three professionals from Crossroads Strategic Advisors, a respected Houston-based advisory firm founded by Jeff Anapolsky to provide recapitalization and restructuring strategies to middle market companies, are joining CohnReznick.
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JPMorgan Names James Roddy to Run Corporate Client Banking
December 21, 2020JPMorgan Chase & Co. named James Roddy as global head of corporate client banking and specialized industries in its commercial banking unit. Roddy, previously co-head of diversified industries investment banking, will report to Doug Petno, chief executive officer of JPMorgan’s commercial bank. The commercial bank, JPMorgan’s smallest line of business by revenue, offers deal advice, treasury services and lending to companies that make up to about $2 billion in revenue. The change was announced in a memo to staff Wednesday and confirmed by a spokeswoman.
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Rosenthal & Rosenthal, Inc. Provides $2.4 Million Purchase Order Finance Facility for Florida-based Government Contractor
December 21, 2020Rosenthal & Rosenthal, Inc., the leading factoring, asset-based lending and purchase order financing firm in the U.S., today announced the completion of a recent purchase order finance facility to support the production financing requirements of a Florida-based minority-owned government contractor.
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Rubenstein Partners Announces Pennant Park Refinancing
December 21, 2020Rubenstein Partners, L.P., a vertically-integrated real estate investment adviser focused on value-added office opportunities (together with its affiliates, "Rubenstein"), has refinanced Pennant Park, a 6-building office park in Atlanta's Northwest submarket, with a $114 million loan facility provided by Nuveen Real Estate. This transaction comes after the substantial completion of Rubenstein's business plan for the property, which involved approximately $17 million of improvements aimed at transforming the property into a walkable Class-A urban office environment with immediate access to Truist Park, home of the Atlanta Braves, and a growing set of local amenities both on and off campus.
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Bank of Southern California Hires William (“Bill”) Sloan and Sam Kunianski to Grow Southern California Presence
December 21, 2020Bank of Southern California, N.A. (OTC Pink: BCAL), a community business bank headquartered in San Diego, announced today the addition of two tenured Commercial Banking executives to support the company’s strategic expansion efforts.
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Team, Inc. Announces Refinancing Of New Capital Structure
December 21, 2020Team, Inc. (NYSE: TISI) a global leading provider of integrated, digitally-enabled asset performance assurance and optimization solutions, today announced the signing of a new $250 million Senior Secured Term Loan due 2026 (the "Term Loan") led by Atlantic Park Strategic Capital Fund, L.P. ("Atlantic Park"). Atlantic Park acted as administrative agent. Concurrent with the signing of the Term Loan, TEAM executed a new $150 million Senior Secured ABL Credit Facility due 2024 (the "ABL Credit Facility") led by Citibank, N.A.
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