TSL Express Daily Articles & News

Access Capital, Inc., the nation’s leading independent lender to the staffing industry, recently welcomed Alexandra Hough to serve as its Legal &Administrative Coordinator. Alexandra brings with her valuable experience as a paralegal at Chaves Perlowitz Luftig LLP. She is a graduate of University of Delaware and is now attending New York Law School’s 4L Part-time Evening Program.

SLR Healthcare ABL is pleased to announce that it provided a $5 million asset-based lending revolving line of credit to a surgical support company.

JPalmer Collective, an asset-based lending company launched in March 2023, has expanded its team of finance industry veterans with the appointment of Celina Rambaran as Senior Vice President of Operations. Celina will play a critical role in shaping JPalmer’s operational strategy, building strong customer relationships and maximizing the company’s performance.

B. Riley Financial, Inc. (Nasdaq: RILY) (“B. Riley” or the “Company”), a diversified financial services platform, today announced its retail liquidation affiliate has been retained to assist in the restructuring and store rationalization of SALAMANDER (“Salamander”) in connection with the leading European shoe retailer’s recent insolvency.

Global mergers and acquisitions (M&A) deals have shown a remarkable quarter-on-quarter (QoQ) rebound, surging by 28% from $469 billion during the first quarter (Q1) of 2023 to reach $602 billion during the second quarter (Q2) of 2023. After four consecutive quarters of decline, this growth signals a resurgence in deal-making activities driven by environmental, social, and governance (ESG) theme, according to GlobalData, a leading data and analytics company.

White Oak ABL, LLC, White Oak Commercial Finance, LLC, and other funds and accounts managed by White Oak Global Advisors, LLC, (collectively, “White Oak”), have closed a new $70 million commitment in a $225 million ABL credit facility to a leading private-equity owned home textile supplier, specializing in fashion top of bed, basic and utility bedding, and window coverings. The funds will be primarily used to provide for working capital.

MidFirst Business Credit (MFBC) announced it has recently provided a $25 million working capital facility to iT1 Group. Headquartered in Tempe, AZ, iT1 Group is a value-added reseller of computers and hardware and custom software solutions that combines business relationships with in-depth product knowledge to provide industry leading IT services and solutions.

Wingspire Capital LLC (“Wingspire”) provided a senior credit facility to Sunland Asphalt & Construction, LLC (“Sunland”) as part of a refinancing that includes growth capital for the provider of asphalt paving maintenance and repair services.

TradeCap Partners is pleased to announce the closing of a $1,500,000 production finance facility for a Northeastern0based consumer packaged goods company whose products can be found online and in-stores across the country.

Beacon Roofing Supply, Inc. (Nasdaq: BECN) (“Beacon,” the “Company”, “we,” “us” or “our”) announced today that it has closed its previously announced private offering (the “Offering”) of $600 million aggregate principal amount of its 6.500% senior secured notes due 2030 (the “Notes”).

Freeman, a global leader in events, today announced that it has acquired Sparks, a global brand experience agency. Terms of the transaction were not disclosed. J.P. Morgan is serving as exclusive financial advisor to Freeman, and King & Spalding LLP is serving as legal counsel to Freeman. Cozen O’Connor is serving as legal counsel to Sparks. Simpson Thacher & Bartlett LLP acted as legal counsel to KKR.

Skylight, the leading digital photo frame and smart calendar brand, has raised $15 million in debt through its partnership with SG Credit Partners. As the company continues to grow profitably, the new capital will be used to support inventory purchases and ensure sufficient product stock to meet increasing demand.

First Citizens Bank today announced that its Middle Market Banking business has arranged $58 million in financing for Tanger Houston, an open-air outlet center located in Texas City, serving an attractive Texas metropolitan area.

Heritage Bank of Commerce (the “Bank”), a subsidiary of Heritage Commerce Corp (Nasdaq: HTBK), today announced the appointment of Susan Just as Executive Vice President and Chief Credit Officer, effective September 7, 2023.

Amplify Energy Corp. (NYSE: AMPY) (“Amplify” or the “Company”) today announced the closing of a new senior secured reserve-based revolving credit facility with Keybanc Capital Markets Inc., Cadence Bank, N.A. and Citizens Bank, N.A. as joint lead arrangers and KeyBank National Association as the administrative agent (the "New Credit Facility").

Creditors led by Apollo Global Management Inc. are nearing a deal to provide Yellow Corp. with fresh cash during a coming bankruptcy, according to people with knowledge of the matter.

FTX Trading Ltd. (d.b.a. FTX.com), and its affiliated debtors (together, the "FTX Debtors"), today announced the filing of its initial Plan of Reorganization (the "Plan") and related Term Sheet (the "Term Sheet") with the U.S. Bankruptcy Court.

Monroe Capital LLC today announced the expansion of its technology finance originations group with the addition of Jeff Kaye as Managing Director, based in Chicago. He is responsible for originating, structuring, and executing new investments within the software and technology sector.

Ares Management Corporation announced today that funds managed by its Credit Group (collectively “Ares”) closed approximately $4.1 billion in U.S. direct lending commitments across 51 transactions during the second quarter of 2023 and approximately $20.2 billion in direct lending commitments across 181 transactions in the last twelve-month period ended June 30, 2023.

A Texas judge on Monday ruled that many lenders need not comply with a Consumer Financial Protection Bureau (CFPB) mandate to gather demographic data on small business borrowers while the U.S. Supreme Court weighs the agency's funding.