TSL Express Daily Articles & News

Renasant Corporation (NYSE: RNST) (“Renasant”) and The First Bancshares, Inc. (“The First”) (NYSE: FBMS) jointly announced today that they have entered into a definitive agreement and plan of merger, pursuant to which The First will merge with and into Renasant (the “Merger”) in an all-stock transaction valued at approximately $1.2 billion, based on Renasant’s closing stock price as of July 26, 2024.

The national Citizens Business Conditions Index™ (CBCI) rose to 52.2 in the second quarter, pushing into expansionary territory after taking a step back at the beginning of the year. The reading above 50 indicates that economic momentum is building, in this case due to higher company revenue coupled with the prospect of easing monetary policy, which lowers the cost of capital.

Churchill Asset Management (“Churchill” or the “Firm”) today announced that it served as Joint Lead Arranger and Administrative Agent for a senior secured credit facility to support the acquisition of Insulation Technology Group (“ITG” or the “Company”) by TJC, LP (“TJC”).

Portman Ridge Finance Corporation (Nasdaq: PTMN) (the “Company”) today announced that it has amended and extended its existing senior secured revolving credit facility (“Credit Facility”) with JPMorgan Chase Bank, National Association (“JPM”).

Achieve Life Sciences, Inc. (Nasdaq: ACHV), a late-stage pharmaceutical company committed to the global development and commercialization of cytisinicline for smoking cessation and nicotine dependence, today announced that it has entered into a $20 million debt refinancing agreement with Silicon Valley Bank (SVB), a division of First-Citizens Bank.

ExchangeRight, one of the nation's leading providers of diversified real estate DST and REIT investments, has announced that Fifth Third Bank has joined Wells Fargo as a co-lender on ExchangeRight's Essential Income REIT's revolving line of credit and has increased the current credit capacity to $100 million. This closing strategically expands the REIT's credit access, adding to the recently announced Credit Facility with Wells Fargo for $75 million.

Grant Thornton, one of America’s largest brands of professionals providing end-to-end audit, assurance, tax, and advisory services, has admitted its annual class of new partners and principals, and promoted a group of professionals to managing directors.

Peakstone Realty Trust (the "Company") (NYSE: PKST), a real estate investment trust that owns and operates a high-quality, newer-vintage portfolio of predominantly single-tenant industrial and office properties, today announced the successful closing of an amended and extended $907 million unsecured credit facility, underscoring the strength of its balance sheet and high-quality portfolio.

Moritt Hock & Hamroff announced today that Michael Cardello III, the firm’s Managing Partner, has been elected to serve as Chair of the Commercial & Federal Litigation Section of the New York State Bar Association (NYSBA). This Section seeks to improve the quality of client representation and enhance the administration of justice in the areas of commercial and federal litigation.

Great Rock Capital, an asset-focused commercial finance company specializing in middle market lending, today announced that they have provided $75 million in total capital to three NWI affiliates.

Refresco, the global independent beverage solutions provider for retailers and global, national, and emerging (GNE) brands in Europe, North America, and Australia, today announces it has successfully completed a EUR 400 million Term Loan B.

Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, today announced the successful signing of a US$167.3 million six-year secured term loan facility with Nordea Bank Abp, filial i Norge on July 25, 2024. The full amount was drawn down immediately.

--American Express Global Business Travel, which is operated by Global Business Travel Group, Inc. (NYSE: GBTG) (“Amex GBT” or the “Company”), a leading software and services company for travel, expense, and meetings and events, today announced that it entered into an amended and restated credit agreement, which provides for a principal amount of $1,400 million senior secured first lien term loan facility, maturing on July 26, 2031, and a $360 million senior secured first lien revolving credit facility, maturing on July 26, 2029.

Today, Lendio released its inaugural State of SMB Lending report. In the survey of over 1000 small business owners, 68% of small businesses say access to financing is the most important factor in the growth of their businesses. While respondents expressed confidence in their ability to access capital, they said the loan amount and term often fall below their expectations.

Iron Horse Credit (“Iron Horse”), a leading non-bank, asset-based lender, is pleased to announce it has secured a $40MM senior credit line from Forbright Bank and MA Asset Management (formerly Blue Elephant Capital Management) with an additional $30MM accordion. I

Encina Private Credit, LLC (“EPC”) is pleased to announce that it has served as revolver and term loan lender for a sponsor owned portfolio company operating in the automotive services industry. EPC’s $75 million first out commitment augmented the existing unitranche lender’s $300 million senior secured credit facility and will be used for M&A and general working capital purposes.

Patagonia Gold Corp. (“Patagonia” or the “Company”) (TSXV: PGDC) announces it has entered into an agreement with Cantomi Uruguay S.A. (“Cantomi”) to increase the maximum aggregate amount of the Cantomi Loan (as defined below). The original loan facility, which Cantomi provided in February 2019 for US$15 million was subsequently amended and further increased to US$33 million with a maturity date of December 31, 2025 (as amended, the “Cantomi Loan”).

Western Forest Products Inc. (TSX: WEF) (“Western” or the “Company”) announced today the amendment and extension of its current $250 million syndicated credit facility.

Propel Holdings Inc. ("Propel") (TSX: PRL), the fintech facilitating access to credit for underserved consumers, announced an upsize of $80 million to its existing syndicated credit facility for the CreditFresh line of business ("the credit facility"). With the upsize, the total commitment for the credit facility is $330 million.

Washington Trust ("the Bank") today announced the promotion of Scott McCaughey to Senior Vice President and Team Leader within the Commercial Banking division. In his new role McCaughey, a 30-year banking professional, will oversee the Bank's Commercial & Industrial ("C&I") Lending and Business Banking teams.