- W&T Offshore Completes Conversion of Revolving Credit Facility to Reserve-Based Lending Structure, Enhancing Financial Flexibility
- eCapital Invests in Continued Commercial Finance Growth Through Five Senior Leadership Additions
- Aurora Appointed Chief Restructuring Officer to Southern Motion In Chapter 11 Bankruptcy
- Power Solutions International, Inc. Secures $220 Million Committed Revolving Credit Facility to Support Continued Growth
- Gordon Brothers Celebrates 20th Anniversary in Japan
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 Bank Leads $100 Million Deal with Holtec International
Santander Bank today announced that its Commercial Banking division closed a $100 million credit facility on behalf of Holtec International (Holtec), a privately held energy technology company. Holtec specializes in providing technology and services for a variety of uses, including the decommissioning of nuclear energy facilities and nuclear fuel and high-level waste management. It also provides heat transfer equipment and services, state-of-the-art custom manufacturing and engineering and consulting services.
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Monroe Capital Supports Centre Partners’ Investment in Hispanic Foods Platform
December 3, 2019Monroe 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 Centre Partners’ investment in Wisconsin Cheese Group Holding, LLC (“WCG”), a leading manufacturer of branded and private label Hispanic foods, including cheeses, desserts, meats and spices.
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McDermott to Access $350 Million Tranche B Financing Under Superpriority Senior Secured Credit Facility
December 2, 2019Tranche B provides McDermott with a $250 million Term Loan Facility and a $100 million Letter of Credit Facility. The Company expects to utilize the amounts available under Tranche B to continue financing working capital and support the issuance of required performance guarantees on new projects.
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Wolters Kluwer Launches Consumer Lending Online Applications Offering for Community Banks, Credit Unions
December 2, 2019Wolters Kluwer’s Compliance Solutions business has launched Online Applications for Consumer Lending (CLA), a digital offering that enhances the online loan origination capabilities of U.S. community banks and credit unions. CLA allows consumers to begin a loan application from any digital device, at any time. It integrates seamlessly with Wolters Kluwer’s ComplianceOne® solution, an industry-leading loan documentation and processing system that helps lenders optimize their lending and document preparation processes in a secure, fast and cost-effective manner.
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Tokyo Century Announces Acquisition of Allegiant Partners Incorporated
December 2, 2019Tokyo Century (USA) Inc. is pleased to announce that it has acquired 100% of the capital stock of Allegiant Partners Incorporated, an independent specialty finance and leasing company based in Bend, Oregon.
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TIMIA Increases Investment Capacity with $7.5 Million Credit Facility While Reducing Cost of Capital
December 2, 2019The one-year term includes an additional 3 month extension and supports TIMIA's future investments into growing SaaS companies in North America with the expectation that 50% of funding for such new investments will be funded from the credit facility ("advance rate") and the remaining 50% will be funded from TIMIA's balance sheet.
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Wintrust Receivables Finance Announces Closing of a New $1.5 Million Line of Credit to Support Growing Trucking Company
December 2, 2019Wintrust Receivables Finance announced today the closing and funding of a $1.5 million credit facility for a trucking company based in Illinois. The company specializes in hauling dry goods, sheet metal, and general freight, while also providing transloading services.
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Gibraltar Business Capital Welcomes Bruce Mettel as its Newest SVP and Account Executive
December 2, 2019Bruce is a seasoned credit professional with over 25 years of asset-based lending experience in both banks and finance companies. His roles have been diverse, including field exam, underwriting, relationship management and workout positions, giving him the broad expertise needed to serve Gibraltar clients with understanding, innovation and effective solutions to their evolving needs.
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Moritt Hock & Hamroff Receives National & Regional Tier Practice-Area Rankings in 2020 U.S. News –Best Lawyers® "Best Law Firms' Report"
December 2, 2019U.S. News & World Report and Best Lawyers®, for the tenth consecutive year, has announced the "Best Law Firms" rankings. Moritt Hock & Hamroff has been ranked in the 2020 U.S. News & World Report and Best Lawyers® "Best Law Firms" list nationally in 1 practice area and regionally in 2 practice areas.
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Celtic Capital Corporation Provides $1.3 Million for California-based Company
December 2, 2019Celtic Capital Corporation today announced its most recent new client relationship – a California-based company that is a job shop – metal and plastics fabrication. This 20-year old business had gotten behind on payroll taxes and with some trade vendors so management approached Celtic Capital for funds to get caught up and to provide additional working capital.
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SierraConstellation Partners, LLC (SCP) Grows Los Angeles Headquarters with Three New Hires
December 2, 2019SierraConstellation Partners, LLC (SCP), a national interim management and advisory firm to middle-market companies in transition, announced today that it has hired three professionals to join the firm’s Los Angeles headquarters. The new additions reflect SCP’s deep commitment to its team, growth, and focus on being the premier firm serving the middle market.
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Sezzle Secures US$100 Million Debt Funding Facility to Grow Business
December 2, 2019Sezzle Inc (ASX: SZL) has secured a US$100 million debt funding facility with a syndicate of lenders, which is more than triple the size of the company’s prior credit facility of US$30 million.
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Blank Rome Welcomes New Associate in Chicago
December 2, 2019Blank Rome LLP is pleased to announce that Andrew J. White has joined the Finance, Restructuring, and Bankruptcy group as an associate in the Firm’s new Chicago office, which entered the market this past summer with the notable addition of partners Kenneth J. Ottaviano, Karin H. Berg, William J. Dorsey, and Paige Barr Tinkham.
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Bryant Bank Hires Birmingham Local to Commercial Banking Team
December 2, 2019Clint Calvert joins the bank with 12 years of commercial loan experience and will serve the Birmingham area by collaborating, producing, and managing commercial relationships in the Birmingham area. A Samford University graduate, Calvert earned a bachelor’s degree in Economics in 2007
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Cuda Oil and Gas Inc. Announces the Extension and Expansion of its Credit Facility to Continue to Fund its Light Oil Asset in the Powder River Basin – Wyoming
December 2, 2019Cuda Oil and Gas Inc. (“Cuda” or the “Company”) (TSXV: CUDA) is pleased to announce that it has entered into an Agreement with the Company’s institutional lender (the “Lender”) to extend the expiration of its 2nd Lien Facility from December 31, 2019 to March 31, 2020. In addition, the Lender has agreed to advance funding of $4.5 MM CAD under the 2nd Lien Facility. The capital proceeds will be used to fund oil field development expenditures associated with the Company’s Barron Flats Shannon Unit (SSRU) in Converse County, Wyoming.
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Jennifer Ross of North Mill Capital was Promoted to Senior Vice President
December 2, 2019Jennifer started her career at Summit Financial Resources in 2009. She will be based out of the Utah office.
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Alvarez & Marsal Appoints Senior Infrastructure Specialist to Bolster Global Transaction Advisory Group
December 2, 2019Global professional services firm Alvarez & Marsal (“A&M”) has appointed Wayne Jephson as a London-based Managing Director, to support the continued expansion of its Global Transaction Advisory Group.
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Nicole Crafts to Divest Out of Retail Operations
December 2, 2019Nicole Crafts has decided to exit its retail operations by retaining the retail and real estate divisions of Gordon Brothers to close the A.C. Moore stores, as part of a broader strategic plan. Matthew Pascucci of Mackinac Partners has been appointed as Chief Restructuring Officer of A.C. Moore to assist in this effort.
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Cascades Announces Successful Completion of Notes Offering
December 2, 2019Cascades Inc. (TSX: CAS) (the "Company"), a leader in eco-friendly recycling, packaging and hygiene solutions, announced today that it has completed its previously announced private offering of US$350 million aggregate principal amount of 5.125% senior notes due 2026, US$300 million aggregate principal amount of 5.375% senior notes due 2028 and Cdn$175 million aggregate principal amount of 5.125% senior notes due 2025.
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Citizens Commercial Banking leads $55 million loan for construction of 267-unit apartment project in Elizabeth, NJ
November 26, 2019Citizens Commercial Banking announced today that its Commercial Real Estate Finance team is providing a $55 million loan to LeCesse Development Corp. and MAS Development Group, for the construction of a mixed-use apartment complex called Vinty in Elizabeth, N.J. Citizens is Left Lead Bank and Administrative Agent.
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Compass Minerals Closes on Sale of $500 Million Senior Notes; Concurrently Closes on Amended and Restated Credit Agreement
November 26, 2019Compass Minerals International, Inc. (NYSE: CMP) completed today its previously announced offering of $500 million aggregate principal amount of 6.75% senior notes due 2027 in a private offering. Compass Minerals has also closed on its new amended and restated credit agreement which provides for a $300 million revolving credit facility and $400 million term loan. Both the revolving credit facility and the term loan mature on January 15, 2025 and carry an interest rate of LIBOR plus 2 percent or a base rate plus 1 percent, as applicable.
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