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TSL Express Daily Articles & News
To submit company news and press releases to TSL Express, email tslexpress@sfnet.com.Today's Top Story
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Santander Strengthens Senior Leadership in Commercial Banking
Santander Bank, N.A. today announced the appointments of Taryn Phelan as Commercial Banking Chief Experience Officer and Michael McDonough as Head of Trade & Working Capital Solutions. Phelan will report to Joe Abruzzo, Head of Commercial Banking, and McDonough will report to Ken Deveaux, Head of Transaction Banking.
“Taryn and Michael are great examples of our investment in top talent to drive, develop and execute our Commercial Banking growth strategy,” said Abruzzo. “They bring a wealth of leadership, experience and energy with them to Santander, and I’m excited to have them on our dynamic team.”
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TSL Express Daily Headlines & News
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Darden Restaurants Provides Business Update Related to COVID-19 And Announces New Term Loan
April 14, 2020Bank of America, N.A., served as administrative agent for the new term loan credit agreement. Additionally, BofA Securities, Inc. and U.S. Bank National Association served as joint lead arrangers and joint bookrunners, U.S. Bank National Association served as syndication agent and Truist Bank served as documentation agent.
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Blackstone and Alnylam Enter Into $2 Billion Strategic Financing Collaboration to Accelerate the Advancement of RNAi Therapeutics
April 14, 2020Blackstone (NYSE: BX) and Alnylam Pharmaceuticals, Inc. (Nasdaq: ALNY), the leading RNAi therapeutics company, today announced the companies have entered into a broad strategic collaboration under which Blackstone will provide up to $2 billion to support Alnylam’s advancement of innovative RNA interference (RNAi) medicines that have the potential to transform the lives of patients suffering from a range of debilitating diseases.
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Hitachi Capital America Welcomes David Williamson as Vice President of Sales, Technology Finance
April 14, 2020Hitachi Capital America Corp. (HCA) today announced that David Williamson has joined the company as vice president of Sales, Technology Finance. David is responsible for originating, structuring, and closing working capital and supply chain financing relationships with new clients in the technology sector. He is based in southern California and reports to Paul Stemler, president of the Technology Finance business.
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Maxim Commercial Capital Funded 250 Businesses in 1Q 2020
April 14, 2020Maxim Commercial Capital is pleased to announce it funded hard asset-secured financings for 250 small and mid-sized businesses (SMBs) during the first quarter of 2020. With the onset of the COVID-19 pandemic, Maxim adapted quickly to safer-at-home working conditions for its 30+ team members. Maxim lends $10,000 to $3,000,000 to SMBs nationwide secured by heavy equipment and real estate to facilitate asset purchases, working capital and to refinance expensive short term debt.
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Gordon Brothers Announces Launch of COVID-19 Industry Brief
April 13, 2020Gordon Brothers, the global advisory, restructuring, and investment firm, announced today the launch of its Industry Brief, which can be found on the COVID-19 Resource Hub at www.gordonbrothers.com/covid-19. Gordon Brothers’ Industry Brief gives an up-to-the-minute assessment of what the firm’s inventory, machinery and equipment, and intangibles experts see happening in multiple markets. The Industry Brief also comments on how values may be affected based on the most recent trends and events in the near, medium, and long term.
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KeyBank Names Greg Jones as Chief Diversity, Equity, and Inclusion Officer
April 13, 2020KeyCorp (NYSE: KEY) today announced that Greg Jones has been named Chief Diversity, Equity, and Inclusion Officer for the company. In this role, Greg will be accountable for leading the strategy and tactics to improve the acquisition, movement, development and retention of diverse talent and suppliers.
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SierraConstellation Partners Hires Bill Partridge as Managing Director in Bay Area, Adds Staff Nationwide
April 13, 2020Merv Merzoug Joins as Director in New York City; Elizabeth Knapp Joins as Executive Assistant to Boston Office Leader Tom Lynch.
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Allied Affiliated Funding Announces Recently Closed Transactions
April 13, 2020Allied Affiliated Funding, a division of Axiom Bank, N.A. is pleased to announce the following recently closed transactions: $600,000 in receivables financing to a Texas-based company specializing in the recycle, repair, and resale of previously used electronics to wholesale and e-commerce customers and $1,500,000 in receivables financing to a Texas-based company providing inspection services for pipeline/rigs and consulting and training services to the oil and gas industry. .
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Oak Valley Community Bank Hires Matt Morgado as Commercial Loan Officer
April 13, 2020Morgado brings over 25 years of commercial and agricultural banking experience to Oak Valley. In his role, he will be responsible for business development and relationship management in the greater Sacramento area.
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Pace Industries Reaches Agreement to Strengthen Its Balance Sheet, Announcing Plan to Position the Business to Realize the Full Benefit of Its Operational Improvements Following COVID-19
April 13, 2020Pace Industries, LLC ("the Company") today announced that it has reached an agreement with its senior secured lenders on the terms of a comprehensive financial restructuring plan, which will deleverage the Company's balance sheet. This agreement has support from 100% of the holders of its senior secured notes as well as its revolving credit facility lenders.
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LSC Communications Takes Action to Strengthen Its Liquidity and Improve Its Capital Structure Voluntarily Files for Business Reorganization under Chapter 11
April 13, 2020Sullivan & Cromwell LLP is serving as legal advisor, Evercore Group L.L.C. is serving as financial advisor and AlixPartners, LLP is serving as restructuring advisor to the Company.
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Crestmark Provides More Than $24 Million in Commercial Financing to 76 Businesses in the Second Half of March
April 13, 2020Crestmark secured a total of $13,900,000 in ABL financial solutions for eight new clients; Crestmark Equipment Finance provided $3,654,190 in five new lease transactions; Crestmark Vendor Finance provided $5,048,790 in 63 new lease transactions; and the Government Guaranteed Lending Division provided $1,420,000 in financing for one new client in the second half of March.
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Moody's - Coronavirus Stimulus Will Lessen Economic Pain, but Credit Climate Will Remain Difficult
April 13, 2020Financial assistance to vulnerable households and businesses will mitigate the economic and employment shock but will not prevent a severe downturn. Support to large companies will limit credit deterioration for certain issuers.
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Access Capital Finances Acquisition by Premier Healthcare Professionals
April 13, 2020Access Capital is pleased to share news of its latest transaction with its client, Premier Healthcare Professionals. Premier Healthcare Professionals (“Premier Healthcare”) is a provider of travel nurses and locum tenens doctors to hospitals and medical centers nationwide. Access Capital, which provides Premier Healthcare with a senior credit facility, funded a new term loan to Premier Healthcare for the purpose of acquiring another provider of travel nurses.
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Briar Capital Real Estate Fund Announces Closing of its Largest Loan to Date
April 9, 2020Briar Capital Real Estate Fund ("BCREF") (www.BriarCapital.com) is pleased to announce the closing of its largest loan to date, a $14MM real estate term loan for a pipeline service provider to the midstream oil & gas industry located in Houston, TX.
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H&M Borrows More Than $1 Billion as Coronavirus Slams Business
April 9, 2020H&M is bulking up its liquidity buffer as the coronavirus continues to batter fashion players across the board. In a statement, the fast-fashion retailer announced it had secured a 980 million-euro, or nearly $1.1 billion, revolving credit facility to help cushion its business amid the pandemic, which has sickened more than 1.49 million people around the world and killed at least 87,400.
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Six Flags Increases Revolving Credit Facility to $481 Million to Provide Additional Liquidity and Financial Flexibility
April 9, 2020Six Flags Entertainment Corporation (NYSE: SIX), the world’s largest regional theme park company and the largest operator of waterparks in North America, today announced that certain of the company’s revolving credit lenders agreed to provide an incremental $131 million of revolving credit commitments to its senior secured revolving credit facility, increasing the facility from $350 million to $481 million.1
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Why Bankruptcy May Not Be the Best Option Now for Hollywood's Distressed Firms
April 9, 2020Just what can movie seats teach us about the economic impact of a health pandemic? Consider the Chapter 11 bankruptcy of VIP Cinemas Holdings, a multinational and the world’s largest manufacturer of luxury recliner seating for movie theaters.
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TAB Bank Provides Outdoor Products Company in Utah with an $8 Million Revolving Credit Facility
April 9, 2020TAB Bank is pleased to announce it has provided a $8 million asset-based revolving credit facility for an outdoor products company based in Utah. The new facility is extended through a multi-year agreement and will provide for the company’s ongoing working capital needs.
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Lassila & Tikanoja Signs a New Revolving Credit Facility
April 9, 2020Lassila & Tikanoja plc has signed a new revolving credit facility of EUR 30 million. The revolving credit facility will mature in the second quarter of 2022. The agreement includes a one-year extension option. The agreement was signed with Danske Bank.
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