TSL Express Daily Articles & News

The Commercial Finance division of Pathward®, N.A., today announced an $8 million asset-based revolving line of credit facility to a PVC and thermoplastics manufacturer in Indiana. The financing provides the company with funding to pay off its current line of credit and to provide ongoing working capital.

Sallyport Commercial Finance is delighted to announce $2M in finance for a leading developer of cutting-edge optical equipment and corneal topography technology. This funding comprises cash flow loans and inventory finance as the business sets its sights on accelerating domestic revenue, achieving financial stability and further advancing its research and development endeavors.

Nabil Istafanous today announced the launch of Foothills Capital Advisory, a practice dedicated to helping businesses secure the necessary working and growth capital to succeed in today's challenging credit environment.

QuickFi® is pleased to announce the expansion of its QuickFi equipment financing platform into Canada. The patented QuickFi platform enables OEMs to offer equipment buyers a consistent, nearly instant, self-service equipment financing experience throughout the U.S. and Canada.

In his new role, Norman will be responsible for managing a portfolio of clients while consistently supporting the overall growth of Commercial Services in the Western region. Based in Los Angeles, he will report to Michael Raynor, portfolio team leader, under the direction of Western Regional Manager Darrin Beer.

SSG Capital Advisors, LLC (“SSG”) served as the investment banker to Eiger BioPharmaceuticals, Inc. (“Eiger” or the “Company”) in the sale of substantially all of its assets related to the FDA-approved drug Zokinvy®, to Sentynl Therapeutics, Inc. The sale was effectuated through a Chapter 11 Section 363 process in the U.S. Bankruptcy Court for the Northern District of Texas (Dallas Division). The transaction closed in May 2024.

eCapital Corp. ("eCapital"), a leading tech-enabled finance provider specializing in tailored solutions for businesses across North America and the United Kingdom, funded an $18 million asset-based lending facility for a leading commercial linen services company.

Proceeds of the facility were used to refinance existing debt and provide ongoing working capital financing. Royal Chemical Company, Ltd., headquartered in Macedonia, Ohio, is a manufacturer of custom mixed chemical products serving the industrial, commercial, and cleaning markets.

Verona Pharma plc announces it and its wholly-owned subsidiary, Verona Pharma, Inc., have entered into strategic financing agreements providing access to up to $650 million from funds managed by Oaktree Capital Management, L.P. (“Oaktree”) and OMERS Life Sciences (“OMERS”).

Today, Electric Hydrogen announced $100M in corporate credit financing to support manufacturing and deployment of their innovative 100MW electrolyzer plants, which enable the lowest cost production of green hydrogen. The funding was led by HSBC, with participation from J.P. Morgan, Stifel Bank, and Hercules Capital.

Rashawn Parker joined SLR Equipment Finance as Associate Vice President in the Risk Department. In his new role, Rashawn will utilize his prior experience in credit analysis and financial services to help grow SLR Equipment Finance’s evolving financial solutions platform.

Associated Banc-Corp (NYSE: ASB) ("Associated") today announced the expansion of its product and marketing leadership team with the addition of Chun Schiros as senior vice president, chief analytics officer. Schiros will focus on enhancing the bank's ability to access and use data effectively and efficiently to attract, deepen and retain customer relationships across all lines of business, including consumer, small business, corporate banking and private wealth.

The Company's principal lender, KeyBank, N.A. ("KeyBank"), has now led a bank syndicate that increased the Company's overall credit facility to $275 million (the "Facility"). This consists of an aggregate revolving commitment of $200 million with an accordion feature for an additional $75 million available upon mutual agreement. The term of the Facility has also been extended to five years expiring in 2029.

Benefit Street Partners L.L.C (“BSP”) announced the final close of BSP Special Situations Fund II and its affiliated vehicles (“Fund II”) which were oversubscribed with approximately $850 million in capital commitments. Fund II will seek to continue the investment approach of its predecessor fund.