TSL Express Daily Articles & News

MidCap Business Credit LLC announced today that it has completed a $5 million asset-based credit facility to a manufacturer and distributor of cryogenic storage and transportation equipment located in the Southeast.

Mountain Ridge was able to provide greater availability and flexibility than the previous bank arrangement, which was meaningful for both the acquisition and supports working capital liquidity for growth going forward.

First Citizens Bank today announced that its Commercial Real Estate business provided $24.5 million in construction financing for 121 Commerce Center, a large new industrial property in Grapevine, Texas.

David McKee has joined the firm as Merger Integration and Carve-out Services practice leader along with David Morris, Managing Director, and four senior core team members. David and his team come to CohnReznick with decades of M&A experience advising corporate and private equity clients from Big 4 and other leading M&A advisory firms.

Beginning March 15, 2025, and each year thereafter, all “Covered Providers” who offer commercial financing to California borrowers and who are already required to provide certain statutory financial disclosures in compliance with the California Financing Disclosure Law shall be required to file an Annual Report electronically through the California Department of Financial Protection and Innovation (“DFPI”) website.

KKR, a leading global investment firm and Origis Energy (“Origis”), a leading renewable energy and decarbonization solution platform, today announced that vehicles and accounts managed by KKR’s insurance business have provided a $300 million corporate financing facility to Origis.

Essential Energy Services Ltd. (ESN.TO) ("Essential") has entered into a renewed credit agreement dated May 29, 2014 (the "Credit Agreement") with a syndicate of lenders including National Bank of Canada, The Toronto-Dominion Bank, HSBC Bank Canada and Canadian Western Bank (the "Lenders").

This women-owned, family business was established in 1980 by the late patriarch of the family and specializes in high-volume production runs and prototype manufacturing for major industries such as aerospace and defense.

Bastion Management ("Bastion"), a private investment firm focused on asset-based lending in the specialty finance sector, announced today that it agented a senior debt investment of $150 million, with an accordion up to $225 million, in Sezzle Inc. (NASDAQ:SEZL) ("Sezzle" or "Company") to refinance the previous $100 million facility established in October 2022 with Bastion and affiliates.

CoreWeave, the AI hyperscaler, today announced it has signed a definitive agreement for a $7.5 billion debt financing facility led by funds managed by Blackstone ("Blackstone"), with strategic participation from Magnetar (Co-Lead Investor) and Coatue. Participation in the financing also included Carlyle, CDPQ, DigitalBridge Credit, funds and accounts managed by BlackRock, Eldridge Industries, and Great Elm Capital Corp.

Red Lobster Management LLC, along with its direct and indirect operating subsidiaries ("Red Lobster" or "the Company"), owner and operator of the Red Lobster® restaurant chain, today announced that the Company has voluntarily filed for relief under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the Middle District of Florida.

Encina Lender Finance, LLC announced today that it has closed a $50 million senior credit facility for a consumer point-of-sale lending platform with a network of more than 2,000 merchants nationwide.

Pathward®, N.A., one of the nation’s leading financial empowerment companies, today announced the expansion and transformation of its suite of offerings for financial institutions. Formerly known for providing prepaid cards to banks and credit unions, Pathward’s new Solutions for Financial Institutions includes expanded options for commercial finance solutions and merchant services.

Eclipse Business Capital LLC (“EBC”) announced that it has provided an $18.5 million senior secured credit facility, consisting of an ABL revolving line of credit and term loan to a mining company that serves various industrial end markets.

Provident Financial Services, Inc. (NYSE: PFS) (“Provident”) announced today that its merger with Lakeland Bancorp, Inc. (“Lakeland”) was completed, creating the premier super community banking franchise in the region.

Associated Banc-Corp (NYSE: ASB) ("Associated") today announced its $2 billion Community Commitment Plan ("CCP") that will uphold its dedication to the communities it supports and empowers. The 2024-2026 CCP marks Associated's fourth three-year commitment since 2016, which has resulted in $9 billion contributed to communities across Wisconsin, Minnesota and Illinois.

Buyers Edge Platform (the "Company"), a leader in digital procurement solutions for the foodservice industry, today announced it has completed a $1.1B recapitalization to support its continued growth through the successful closing of a $560M Term Loan B maturing in 2031 and a $130M revolving credit facility maturing in 2031 ("new credit facilities").

Alliance Funding Group (AFG), a premier provider of customized equipment financing solutions since 1998, announces significant appointments within its Technology Finance division. Adam Doyle joins as Senior Vice President, Head of Technology Finance, and Eric DeHart assumes the role of Market Director, Technology Finance.

Monroe Capital LLC today announced it acted as joint lead arranger on the funding of a senior credit facility to support the acquisition of Cloudbreak Health (“Cloudbreak”) by GTCR.

Lendscape, the market-leading provider of commercial finance technology, today announced the launch of Lendscape CONNECT, a revolutionary solution designed to widen access to invoice finance by removing the traditional barriers involved for lenders and their clients.