TSL Express Daily Articles & News

Sallyport Commercial Finance is delighted to announce a $4,000,000 funding facility for Belluscura, a trailblazing medical device company focused on developing innovative oxygen enrichment technology. The funding, comprising accounts receivable and cash flow loans, will empower Belluscura to expand its operations into the U.S. market, supporting the production and distribution of their groundbreaking oxygen treatment devices.

Stoli Group's US unit has filed for Chapter 11 bankruptcy in a bid to safeguard its business operations, brands and personnel. The protection, which covers the company's Stoli Group USA LLC and Kentucky Owl LLC entities, was submitted to the United States Bankruptcy Court for the Northern District of Texas.

Mercuria Energy Group Ltd. ("Mercuria") is pleased to announce the successful closing of its USD 1,699,084,507 equivalent in USD and CNH Syndicated Term Loan and Revolving Credit Facilities (the "Facilities") in Asia.

On 29 November 2024, EDF (BBB positive S&P / Baa1 stable Moody's / BBB+ negative Fitch) signed a €6 billion syndicated credit facility for a five-year term, renewable twice for one year. Its cost will be indexed to three Group sustainability performance indicators, in line with the Loan Markets Association's Sustainability Linked Loans Principles:

MONTICELLOAM, LLC (“MonticelloAM”), a specialized multifamily and seniors housing bridge lending platform, closed $18,000,000 in bridge financing for a seniors housing community in Wisconsin. The financing was originated by Karina Davydov, Managing Director at MonticelloAM.

Installed Building Products, Inc. (the "Company") (NYSE: IBP), an industry-leading installer of insulation and complementary building products, today announced that the Company successfully repriced its $500 million term loan (the "Term Loan").

Amerisource Business Capital is pleased to announce the successful closing and funding of a $3,000,000 term loan and revolving credit facility for a utility consulting firm located in Texas.

Blackstone and Santander Corporate & Investment Banking today announced an agreement under which funds managed by Blackstone Credit & Insurance (“BXCI”) will acquire interests in a $1 billion portfolio of high-quality infrastructure loans from Santander.

Cohn & Dussi, a full-service law firm with its principal office in Boston, is proud to announce that Attorney Andrew B. Glaab has been promoted to Partner. Glaab, who has been with the firm since 2014, has demonstrated exceptional leadership and legal acumen, particularly in his role heading the firm's in-house collection group.

Barings, one of the world’s leading investment managers, today announced that it is executing the first European middle market private credit CLO, Barings Euro Middle Market CLO 2024-1 DAC, at €380 million. S&P and Fitch will rate the CLO, which is backed by a portfolio of European middle market senior secured loans.

Minerals Technologies Inc. (NYSE: MTX) (MTI), a global specialty minerals company, today announced the closing of a new seven-year $575 million senior secured Term Loan B (TLB) along with the increase of its Revolving Credit Facility (Revolver) from $300 million of capacity due 2027 to $400 million due 2029.

SouthStar Capital is proud to announce the provision of a $4 million Accounts Receivable (A/R) facility to a second-generation, family-run manufacturing company that serves industries such as aggregate, sawmill, and asphalt since the 1980s, the company has built a strong reputation for reliability and innovation.

CIBC Innovation Banking today announced a US$13 million growth capital facility for Practice Better, a leading all-in-one practice management software platform serving health and wellness professionals. The investment will support Practice Better's continued expansion into new markets and accelerate product innovation empowering health and wellness professionals to reach millions of clients.

Lifecore Biomedical, Inc. (NASDAQ: LFCR) (“Lifecore”), a fully integrated contract development and manufacturing organization (“CDMO”), today announced that it has entered in an agreement with BMO, a leading provider of global investment and corporate banking services and one of North America’s largest banks, which amends and extends the terms of Lifecore’s existing asset-based lending (“ABL”) revolving credit facility entered into between Lifecore and BMO in December 2020.

Ares Capital Corporation ("Ares" or the "Company"), a leading specialty finance company, has completed a significant debt securitization transaction, according to a recent filing with the Securities and Exchange Commission (SEC). On Monday, Ares, through its subsidiary Ares Direct Lending CLO 4 LLC ("ADL CLO 4"), finalized a $544.0 million term debt securitization known as a collateralized loan obligation (CLO), which is an on-balance-sheet financing.

The Hedaya Capital Group recently provided a $5 Million factoring/inventory financing facility to a New York-based wholesale manufacturer of licensed electronic and novelty products in a hypergrowth phase

Webster Bank is pleased to announce that Adam Hoffman has joined Webster as executive managing director, Head of Treasury Management. Hoffman is responsible for leading all facets of Treasury Management and Commercial Card, including Sales, Client Delivery and Product Management.

Revolving credit facilities continue to show strong bankruptcy recoveries and offer the highest likelihood of recovery among the various types of rated first-lien debt, according to a new report from Fitch Ratings.

WesBanco, Inc. (Nasdaq: WSBC), a diversified, multi-state bank holding company, announced today the appointment of Jan Pattishall-Krupinski to the role of Senior Executive Vice President and Chief Administrative Officer, effective immediately. This strategic move underscores the organization's commitment to advancing its leadership structure to support sustainable long-term growth and align with evolving business and stakeholder needs.

Maritime Partners, LLC ("Maritime Partners") has announced the successful closing of a $750 million, first-of-its-kind warehouse facility, which will be collateralized by three wholly owned business lines within one of its managed funds with a syndicate of lenders led by ATLAS SP Partners ("ATLAS").