TSL Express Daily Articles & News

Cadence Bank ("Cadence" or the "Company") (NYSE: CADE) today announced that it entered into a definitive agreement to sell its insurance operations, Cadence Insurance, Inc., to Arthur J. Gallagher & Co. ("Gallagher") (NYSE: AJG) for $904 million in cash1.

SB360 Capital Partners, a leading asset disposition and advisory firm, has been selected as the exclusive agent for the disposition of finished goods, work-in-process inventory, and raw materials for Klaussner Furniture Industries, Inc., an Asheboro, North Carolina-based furniture manufacturer.

Eiffel Investment Group has announced a new financing of €60m to support in its growth plans Fives, an international leader in industrial engineering. This new financing is part of the "Obligations Relance" scheme initiated by France Assureurs and Caisse des Dépôts.

Store closing sales have commenced at Z Gallerie retail locations nationwide. B. Riley Retail Solutions, LLC, a subsidiary of B. Riley Financial, Inc. (“B. Riley”) (Nasdaq: RILY), is operating the sale in its capacity as retail consultant in connection with the Chapter 11 bankruptcy of DirectBuy Home Improvement, Inc. (dba Z Gallerie).

Legacy Corporate Lending, LLC (“Legacy”), an independent asset-based lending (ABL) company focused on serving the needs of middle market companies across North America, today announced the closing of a $100 million senior credit facility from Wells Fargo Capital Finance. The facility will support Legacy’s continued growth in serving the middle market ABL space.

Grasshopper, the client-first digital bank built for the business and innovation economy, today announced its further expansion into lending solutions for private equity firms with the addition of Matthew Deibel as Senior Vice President of Sponsor Banking. Deibel joins the Bank to lead this newest business segment and address a critical aspect of the current market and economic cycle for growth stage companies.

HealthCare Royalty (“HCRx” or the “Company”), a leading middle market royalty acquisition firm that has raised $7.6 billion in capital since inception, today announced several important firm developments:

Cantaloupe, Inc. (NASDAQ: CTLP), a digital payments and software services company that provides end-to-end technology solutions for self-service commerce, is honored to be recognized as a “2023 Champion of Board Diversity” by The Forum of Executive Women, a Greater Philadelphia premier women’s organization. This is the third year in a row that Cantaloupe has been honored.

Global business advisory firm EisnerAmper announces that Allen Wilen, Partner and National Director of the firm’s Financial Advisory Services Group, has been named the Global President of the Turnaround Management Association (“TMA”) for the organization’s 2024 term.

King Trade Capital (“KTC”) is pleased to announce the completion of a $3MM purchase order finance facility for an aircraft parts company based in Texas. King Trade Capital was introduced to the company by a prior Client of KTC’s, who suggested that King Trade’s expertise and financial capabilities could help them execute upon their sales growth.

First Citizens Bank today announced that its Energy Finance business has served as lead agent on $60 million in financing to Gore Street Energy Storage Fund plc for the development of a 200-megawatt battery storage project located in Imperial County, California.

First Business Bank announces that its Accounts Receivable Financing team recently funded a $1 million factoring facility to a software development company. First Business Bank’s new client specializes in developing software solutions that enhance the automation and efficiency of its customers.

EverBank, formerly TIAA Bank, is proud to announce the addition of five experienced leaders to its recently launched Fund Finance division.

Trafigura Group Pte Ltd (“Trafigura”), a market leader in the global commodities industry, announced the closing of its new Syndicated Revolving Credit Facility (“RCF”) and Term Loan Facilities (the “Facilities”) at c. USD2.7 billion-equivalent. The Facilities were substantially oversubscribed and upsized from their initial launch amount of USD2.0 billion-equivalent, with 30 financial institutions participating in the transaction, including four new lenders.

Castlelake, L.P., a global alternative investment firm specializing in asset-based opportunities and Oportun (Nasdaq: OPRT), a mission-driven fintech, today announced the entry into a new agreement whereby certain of Castlelake funds and affiliates, will provide a $200 million private structured financing solution to Oportun. Under the terms of the agreement, Oportun will use the funds to finance the origination of its personal loan products.

SFNet’s Advocacy Committee has assembled a task force including member banking institutions, legal resources and strategic advisors to address proposed new regulations incorporating Basel III risk weighted capital standards.

Austin Financial Services, Inc. (AFS) is pleased to announce the closing of an $8MM ABL facility, which includes an equipment term loan, to a manufacturer of metal door and hallway systems for the self-storage industry. Proceeds from AFS’ revolver and term loan will be used to purchase materials to support order demand and execute the Company’s long-term growth projections.

Sallyport Commercial Finance announced it has provided a $350,000 accounts receivable facility for an oil and gas services business to step forward with their plans after the bank was unwilling to extend their facility. The facility will allow the company to reduce their accounts payable obligations and focus on growing sales in some of their target regions.

Kent’s Bromeliad Nursery (“KBN”) is one of the world’s leading suppliers of premium Bromeliad plants. Its expert team of horticulturists have extensive knowledge of bromeliad cultivation that has resulted in creation of over 47 unique bromeliad plant varieties and more than 19 patents for additional hybrids.

Hilco Redevelopment Partners (HRP) broke ground today on the first phase of vertical construction on The Bellwether District’s 1,300-acre South Philadelphia site.