TSL Express Daily Articles & News

Holland & Knight has strengthened its Financial Services Team with the addition of Nneoma Maduike as a partner in New York. Ms. Maduike was previously a partner with Otterbourg P.C., where she was co-head of the Lender Finance practice.

- Trinity Capital Inc. (Nasdaq: TRIN) ("Trinity Capital," "Trinity" or the "Company"), a leading provider of diversified financial solutions to growth-stage companies, today announced that it has amended its credit facility led by KeyBank N.A. ("KeyBank"). The amendment expands the original credit facility from $350 million to $440 million in commitments and includes an accordion feature, pursuant to which the Company may increase the size of the credit facility to an aggregate principal amount of $690 million.

Features of this new facility include: $245 million total commitment; Deutsche Bank AG, New York branch, as senior lender – a new lending relationship for Oportun; Jefferies, as mezzanine lender – an existing, longstanding lender to Oportun; three-year revolving period; collateralized by Oportun’s unsecured and secured loan originations.

Commercial chapter 11 filings increased 40 percent in July 2024 to 510 from the 364 filings in July 2023, according to data provided by Epiq AACER, the leading provider of U.S. bankruptcy filing data. Overall commercial filings also increased 17 percent in July 2024 to 2,335 from 2,004 in July 2023.

Schottenstein affiliate Second Avenue Capital Partners (SACP), a leading provider of customized financing solutions for retail and consumer product sectors, is pleased to announce the closing of a $15,000,000 Senior Secured Revolving Credit Facility for Dover Saddlery, the premier destination for equestrian products and apparel.

Culain Capital, a leading provider of financial solutions, announced today that it has provided a $2 million account receivable finance facility to a rapidly expanding seafood importer. The deal was structured and led by Dan Stacy, Senior Vice President.

North Mill Equipment Finance LLC (“NMEF”), a leading independent commercial equipment lessor headquartered in Norwalk, Connecticut, announced today that the company had a record-breaking month in July as funded volume surged to more than $56 million, an increase in loan and lease originations of 33% from the same period last year.

Truck freight volumes and spending continued to drop in the second quarter, but at a slower pace than recent quarters, according to the latest U.S. Bank Freight Payment Index. Shipments increased in three regions – the West, Northeast and Southeast – on a quarterly basis, the first time multiple regions have experienced increased volume in more than a year.

Welsbach Technology Metals Acquisition Corp. (NASDAQ: WTMA) (“WTMA”) and Evolution Metals LLC (“EM”) today announced that, inter alios, WTMA and EM have entered into a Term Sheet (the “Term Sheet”) with certain legally binding clauses with Broughton Capital Group (“BCG”) for BCG, through a special purpose investment vehicle, to provide an equity investment (“Anchor Equity Investor”) of US$500 million through a private investment

Lundin Mining Corporation (“Lundin Mining” or the “Company”) is pleased to announce the closing of an increase to its existing term loan (“Term Loan”), maturing on July 27, 2027, in the principal amount of $350 million, in connection with the previously announced closing of an additional nineteen percent (19%) interest in SCM Minera Lumina Copper Chile (“Lumina Copper”).

A new survey by Wolters Kluwer reveals that 33% of respondents representing small businesses that meet the reporting criteria and should be filing this year mistakenly don’t believe that beneficial ownership information (BOI) reporting applies to their organizations.

J D Factors provided $12,525,000 in new factoring facilities to 29 new clients in the US and Canada during the month of July. Some of these facilities include: a $800,000 factoring facility for a transportation company in Illinois and a $500,000 factoring facility for a transportation company in Washington.

Onyx Asset Advisors (ONYX), CA Global Partners (CAGP) and Tiger Group will hold four online auctions in August featuring inventory from Southern California’s high-end PIRCH Appliances.

1st Commercial Credit, LLC, in collaboration with its affiliate Nationwide Commercial Credit, Inc. (NCC), is proud to introduce a specialized Freight Broker Non-Recourse Factoring Program. This program is designed to improve cash flow and ensure prompt payments to carriers, providing a valuable financial solution with credit protection for the freight brokerage industry.

Rockland Trust has appointed Chris Reilly of Methuen as VP and commercial banking officer for the Bank’s North of Boston team. He will build relationships with mid-size companies across Northern Massachusetts and Southern New Hampshire.

Pathlight Capital LP ("Pathlight" or "Pathlight Capital") announced it is serving as the Administrative Agent on a $45,000,000 senior secured term loan for Sportsman's Warehouse Holdings, Inc. ("Sportsman's", or the "Company"), an outdoor sporting goods retailer that's been in operation for over 35 years.

- TerrAscend Corp. (“TerrAscend” or the “Company”) (TSX: TSND, OTCQX: TSNDF), a leading North American cannabis company, today announced that the Company, together with certain entities that are consolidated by the Company (the “Consolidated Entities”), have closed on a senior secured term loan (the “Loan”) for gross proceeds of US$140 million (the “Transaction”) from funds managed by FocusGrowth Asset Management, LP (“FocusGrowth”), a leading capital provider to the cannabis sector, along with other members of a loan syndicate.

Helix Energy Solutions Group, Inc. ("Helix") (NYSE: HLX) announced today that it has amended its existing asset-based revolving credit facility (the “ABL Facility”) as of August 2, 2024. The amendment extends the term of the ABL Facility from September 30, 2026 to August 2, 2029 subject to earlier senior debt maturities, and increases the letter of credit basket size from $20 million to $55 million.

In his new role, Jordan is responsible for delivering best-in-class products and solutions with a strong focus on client service, driving Texas Capital’s strategy and instilling the firm’s culture across Central Texas.

The Pennant Group, Inc. (NASDAQ: PNTG), the parent company of the Pennant group of affiliated home health, hospice and senior living companies, today announced that the Company has increased its credit facility by $100 million to an aggregate of $250 million. The borrowings are supported by a lending consortium arranged by Truist Securities.