- Blue Bird Closes $600 Million Credit Facility Refinancing, Extends Maturity to 2031
- Oxford Finance Provides Cross-Border Asset-Based Lending Facility to HLC
- Stord Secures $400 Million Credit Facility Led by Citi to Scale Its Network, Robotics, and AI Investment, Expands Leadership Team
- Alpine Ridge Funding Hires Alexis Donnorummo As VP, Underwriting
- SouthStar Capital Provides $2 Million Invoice Factoring Facility to Support Growing Maryland Specialty Contractor
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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SG Credit Opens Denver, CO Office
SG Credit Partners today announced that Spencer Brown has been promoted to Managing Director and has opened a Colorado office. In this role, he will continue leading the coverage efforts for originating and closing structured cash flow, collateral based, recurring revenue, high net worth and special situations credit facilities in the Rocky Mountain and Southwest regions.
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Tradewind Finance Provides Reverse Factoring Facility to Electronics Company based in Hong Kong
January 6, 2020Tradewind Finance has closed a reverse factoring deal with a Hong Kong-based electronics company whose buyer is located in the United States. The deal marks the addition of a second supplier to the vendor finance program that Tradewind has set up for the US buyer.
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Tom Linebarger Joins 36th Street Capital as SVP, Business Development
January 6, 202036th Street Capital Partners LLC (“36th Street Capital”), an independent provider of alternative funding solutions for the equipment financing industry, announced the appointment of Thomas Linebarger as Senior Vice President of Business Development.
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Covia Announces Actions Designed to Improve Financial Flexibility
January 6, 2020ovia (NYSE:CVIA), a leading provider of mineral-based material solutions for the Industrial and Energy markets, announced a series of actions that are expected to improve its financial flexibility: $85 Million Committed Standby Credit Facility - The Company has received a commitment from PNC Bank, National Association for a new, 3-year credit facility for up to $85 million.
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Midcoast Energy Completes $830 Million Refinancing
January 6, 2020Midcoast Energy Holdings, a portfolio company of an affiliate of ArcLight Capital Partners, has completed an $830 million refinancing with a consortium of Korean lenders and institutional investors. The refinancing involves a Midcoast Energy subsidiary that indirectly holds a 35% interest in the Texas Express Pipeline, a 594-mile, 20-inch natural gas liquids pipeline which begins in Skellytown, Texas and ends in Mt. Belvieu, Texas. Midcoast Energy will continue to own and control its 35% interest in Texas Express.
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AgroFresh Amends and Extends the Revolving Credit Facility
January 3, 2020AgroFresh has entered into an agreement with Bank of Montreal to extend AgroFresh’s existing $12.5 million revolving credit facility to April 1, 2021. The amendment also includes favorable revisions to the senior secured net leverage ratio.
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Cabot Microelectronics Corporation Announces Refinancing of Term Loan Facility
January 3, 2020Cabot Microelectronics Corporation (Nasdaq: CCMP) today announced that it has amended its credit agreement entered into on November 15, 2018 to reduce the interest rate on borrowings under the agreement’s term loan facility by 25 basis points. The new term loan facility of the amended credit agreement has an aggregate principal amount of $957.0 million and bears interest at a rate per annum equal to, at the company’s option, either (a) a London Inter-bank Offered Rate (“LIBOR”), subject to a 0.00% floor, or (b) a base rate, in each case plus an applicable margin of 2.00% for LIBOR loans and 1.00% for base rate loans.
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Melinta Therapeutics Announces Restructuring Support Agreement with its Secured Lenders under its Senior Credit Facility
January 3, 2020Melinta Therapeutics, Inc. (NASDAQ: MLNT) (the “Company” or “Melinta”), a commercial-stage company focused on the development and commercialization of novel antibiotics to treat serious bacterial infections, today announced that it has entered into a Restructuring Support Agreement (the “Agreement”) with the lenders under its senior credit facility, Deerfield Private Design Fund III, L.P. and Deerfield Private Design Fund IV, L.P. (the “Supporting Lenders”).
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BlueLinx Announces Closing of Sale-Leaseback Transactions for $27.2 Million Net Proceeds; Transactions Result in Significant Progress in Ongoing Real Estate Monetization and Deleveraging Initiatives
January 3, 2020BlueLinx Holdings Inc. (NYSE: BXC), a leading distributor of building and industrial products in the United States, today announced that it has completed sale-leaseback transactions for aggregate net cash proceeds of $27.2 million, which were used to repay indebtedness under the Company’s term loan. The transactions closed on December 31, 2019.
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Air Industries Group announces new $18.9 million credit facility with Sterling National Bank
January 2, 2020Air Industries Group (“Air Industries” or the “Company”), an integrated manufacturer of precision equipment assemblies and components for leading aerospace and defense prime contractors is pleased to announce that on December 31, 2019 it entered into a new 3-year, $19.8 million credit facility, consisting of a $16 million revolving credit line, and a $3.8 million term loan.
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S&W secures new $35 million working capital facility with CIBC
January 2, 2020S&W Seed Company (Nasdaq: SANW) today announced it has closed a new $35 million asset-based revolving credit facility with CIBC Bank USA ("CIBC").
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Sunnova closes $150 mn in financing to fund growth
January 2, 2020Sunnova Energy International has announced that it has closed an aggregate USD 150 million in financing through an approximately USD 95 million revolving asset-based loan facility and a private placement of USD 55 million aggregate principal amount of convertible senior notes.
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B. Riley, Kayne Anderson finance furniture chain acquisition
January 2, 2020A subsidiary of B. Riley Financial Inc. in Woodland Hills and Kayne Anderson Capital Advisors in Los Angeles will provide a $700 million credit facility to finance the buyout of a furniture store chain.
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The Green Organic Dutchman announces closing of secured credit facility
January 2, 2020The Green Organic Dutchman Holdings Ltd. (the “Company” or “TGOD”) (TSX:TGOD) (US:TGODF), a leading producer of premium certified organic cannabis, is pleased to announce that it has closed the previously announced senior secured first lien credit facility of up to $42.7 million (the “Facility”) with Maynbridge Capital Inc. (the “Lender”).
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Encina Business Credit, LLC (EBC) provides facility to leading provider of oilfield equipment and services
January 2, 2020Encina Business Credit, LLC (EBC) announced today that it has provided a $10 million senior secured credit facility to a leading provider of oilfield equipment and services.
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Celtic Capital Corporation today announced its most recent new client relationship
January 2, 2020Celtic Capital Corporation today announced its most recent new client relationship – a California-based distributor of contract manufactured electrical testing devices
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Advance Auto Parts to buy DieHard brand from Sears for $200 million in cash deal
December 23, 2019Advance Auto Parts is acquiring Sears’ DieHard brand, known for its car batteries, for $200 million in cash, CNBC has learned.
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Dean Foods Receives Final Court Approval for $850 Million in Debtor-In-Possession Financing
December 23, 2019Dean Foods Company (NYSE: DF) (“Dean Foods” or the “Company”) today announced that the U.S. Bankruptcy Court for the Southern District of Texas has entered a final order granting the Company authority to access the full amount of its $850 million in debtor-in-possession (“DIP”) financing.
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TAQA secures US$3.5 billion revolving credit facility
December 23, 2019Abu Dhabi National Energy Company, TAQA, announced today that it has secured a US$3.5 billion revolving credit facility.
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Encina Business Credit Provides $15 Million Facility to a Coal Company
December 19, 2019Encina Business Credit, LLC (EBC) announced today that it has provided a $15 million senior secured credit facility to a coal mining company. The facility consists of a revolving line of credit based on accounts receivable and equipment. Loan proceeds will be used to support working capital and maintenance capex.
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Bolanos Joins Triumph Business Capital to Head Up Client Experience Team
December 19, 2019Triumph Business Capital, member of the Triumph Bancorp, Inc. group and provider of working capital financing solutions to small- and medium-sized businesses, announced today the hiring of Moises Bolanos as Senior Vice President of Client Experience. Bolanos joins Triumph after nearly four years in a similar role at eCapital, a freight factoring company based in Southern California.
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