TSL Express Daily Articles & News

Hecate Grid, a joint venture between an InfraRed Capital Partners managed fund ("InfraRed") and Hecate Energy, today announced the recent close of a 4-year $125 million Letter of Credit ("LC") facility with Mitsubishi UFJ Financial Group ("MUFG").

Arcadia Finance, a new litigation funding firm focused on commercial litigation and arbitration, today announced its official launch to offer customized financial solutions and unparalleled support to empower clients and partners in achieving their legal goals. Led by litigation funding veterans David Kerstein, Ronit Cohen, and Joshua Libling, the Arcadia leadership team has decades of funding and litigation experience.

White Oak Commercial Finance (“WOCF”), an affiliate of White Oak Global Advisors, today announced the upsizing of a $10 million factoring facility to a leading worker management software company by an additional $15 million. The now $25 million factoring facility will serve as working capital to support the company’s growth in the artificial intelligence space.

Monroe Capital LLC announced it acted as administrative agent and joint lead arranger on the funding of a senior credit facility to support the acquisition of Clark Foam Corporation (“Clark Foam”) by Specialized Packaging Group (“SPG”), an existing portfolio company of Altamont Capital Partners.

First Citizens Bank today announced that CIT Northbridge Credit, as advised by First Citizens Institutional Asset Management, LLC, provided a $35 million revolving line of credit to Network Wireless Solutions, a provider of cable solutions and distributor of hardware infrastructure products.

Citizens Financial Group, Inc. (NYSE: CFG) today announced that Don McCree, Head of Commercial Banking, has been appointed as Senior Vice Chair of Citizens.

Nabors Industries Ltd. ("Nabors") (NYSE: NBR) closed, on June 17, 2024, an amendment and restatement of its secured credit facility. The new $475 million facility is comprised of $350 million for revolving credit and $125 million for letters of credit.

Mountain Ridge Capital ("MRC") is pleased to announce the closing of a $20.0 million senior secured credit facility to a leading manufacturer and distributor of apparel. The MRC facility refinanced the debt of a regional finance company and will be utilized to assist their management team in achieving its growth and operating objectives.

SSG Capital Advisors, LLC (“SSG”) served as the investment banker to Contract Pharmaceuticals Limited Canada and its affiliates (“CPL” or the “Company”) in its restructuring and sale to Aterian Investment Partners via a Reverse Vesting Order (“RVO”). The sale was effectuated through the Companies’ Creditors Arrangement Act (Canada) (“CCAA”) in the Ontario Superior Court of Justice, and an ancillary Chapter 15 proceeding in the U.S. Bankruptcy Court for the District of Delaware.

Building on a successful and proven partnership, BNP Paribas Factoring is set to consolidate its pan-European and North African factoring operations onto the Lendscape Receivables Finance platform. The move will enable the Bank to optimise customer and employee experiences, support its growth strategy and continue to deliver best-in-class services, providing over €25 billion of funding to its 12,000 SME and corporate clients across Western Europe.

Since 1996, AR Funding has set the standard for professionalism, fairness and dependability in accounts receivable funding and invoice factoring. With over 100+ years of combined experience within our Greenville, South Carolina headquarters, our staff works diligently to provide unparalleled service and insight for clients across the U.S.

Cornerstone Business Credit [www.CornerstoneBusinessCredit.com] is pleased to announce the recent funding of a $400,000 line of credit to an exciting and rapidly growing specialty cookie company.

Huntington Business Credit acting as administrative agent closed $70,000,000 in new credit facilities with financing partners Proterra Investment Partners and Farm Credit Services of America to support Stellex Capital Management’s acquisition of The James Skinner LLC on May 1, 2024.

Encina Private Credit, LLC (“EPC”) is pleased to announce that it has served as Administrative Agent providing a First Out tranche in a Senior Secured Credit Facility supporting Sparkstone Electrical Group (“Sparkstone”).

Kapitus, a leading provider of financing for small and medium sized businesses, today announced the closing of a $45 million investment-grade corporate note financing. The closing of this most recent financing increases the Company’s total debt facilities to $585 million.

LSQ, a leading provider of working capital and payments management solutions, recently originated a $3 million accounts receivable credit facility for a Florida-based fixed wireless internet provider.

King Trade Capital (“KTC”) is pleased to announce the completion of a $1.5M purchase order-based production finance facility for a dry baked goods manufacturer in the western US.

A live webcast auction on June 26 features the Phoenix plant of manufacturer Zummit Plastics, known for producing both conventional stretch film and what it billed as the only biodegradable version of that product in the country.

InterNex Capital provided a $5 million revolving line of credit that will enable the company to bid and win larger projects. The company, a civil engineering firm with 12 years in business, sought a lender that understood the intricacies of working with private and public entity billing practices.

Rosenthal & Rosenthal, Inc., the leading factoring, asset-based lending, purchase order financing and inventory financing firm in the United States, today announced the completion of two factoring transactions totaling $6.5 million and $25 million in factoring volume.