TSL Express Daily Articles & News

BHI, a full-service commercial bank, announced that its International Commercial & Industrial Team has provided a $40 million credit facility for the issuance of standby letters of credit to a premier global insurance company. The facility, backed by the premier global insurance provider, will support the ongoing efforts of Doral Renewables LLC (“Doral Renewables”), to further develop its renewable energy pipeline in the US.

The Equipment Leasing and Finance Association’s (ELFA) Monthly Leasing and Finance Index (MLFI-25), which reports economic activity from 25 companies representing a cross section of the $1 trillion equipment finance sector, showed their overall new business volume for May was $9.5 billion, up 1 percent year-over-year from new business volume in May 2022. Volume was down 2 percent from $9.7 billion in April. Year-to-date, cumulative new business volume was up 0.9 percent compared to 2022.

Ares Management Corporation (NYSE: ARES) (“Ares”), a leading global alternative investment manager, announced today that certain funds managed by its Alternative Credit strategy (“Alternative Credit”) have completed the acquisition of a $3.5 billion specialty finance loan portfolio (the “Portfolio”) from PacWest Bancorp (Nasdaq: PACW).

Huntington Business Credit announced it closed a $40,000,000 new credit facility with Tex-Tube Company on May 25, 2023. Proceeds of the facility were used to refinance existing debt and provide ongoing working capital financing.

Caltius Structured Capital, is pleased to announce a debt and equity investment in AspireHR, a Human Capital Management (HCM) implementation, software, and managed services firm. The strategic infusion of capital will bolster AspireHR's growth trajectory and allow it to strategically invest in new innovation.

Republic First Bancorp, Inc. (NASDAQ: FRBK) (the “Company”), the parent company of Republic First Bank d/b/a Republic Bank (the "Bank"), today announced the appointment of Brian F. Doran, Esq., as Executive Vice President and General Counsel, effective June 20, 2023. Mr. Doran has a distinguished background in the financial services industry that includes relevant legal and corporate governance roles at top institutions.

Theratechnologies Inc. (“Theratechnologies”, the “Company”, or “we”) (TSX: TH) (NASDAQ: THTX), a biopharmaceutical company focused on the development and commercialization of innovative therapies, today announced that it drew down on its second tranche of US$20 million under its credit agreement dated July 20, 2022, as amended (the “Credit Facility”), with certain funds and accounts for which Marathon Asset Management, L.P. acts as investment manager (collectively, “Marathon”).

Mr. Chinoy brings more than two decades of consulting, real-world strategy and M&A experience across a wide field of engagements and management decision levels. He advises global clients in transportation and logistics sectors, supply chain management, industrial automation and robotics technology, commercial real estate, defense and aerospace, and financial services.

6sense, the leading platform to revolutionize the way B2B organizations create, manage and convert pipeline to revenue, today announced it has secured new debt financing totaling $100 million comprising a senior secured revolving credit facility from Silicon Valley Bank (SVB), a division of First Citizens Bank. ​

Maintaining the firm’s longstanding practice of rotating key leadership positions, McGuireWoods has appointed new office leaders in Los Angeles; Austin; Washington, D.C.; Pittsburgh; and Tysons, Virginia.

GridPoint, a leader in energy management and optimization technology that decarbonizes commercial buildings, today announced that HASI (NYSE: HASI), a leading investor in climate solutions, has provided a credit facility of up to $150 million to enable GridPoint to meet the growing demand for its award-winning energy optimization platform.

Scorpio Tankers Inc. (NYSE:STNG) (“Scorpio Tankers” or the “Company”) announced today that it has received a commitment from DekaBank Deutsche Girozentrale for a credit facility of up to $94 million. The credit facility will be used to finance one MR product tanker and three LR2 product tankers.

O2 Sponsor Finance, a division of Old Second National Bank, today announced that it provided $24,581,000 in senior secured credit facilities to support Tilia Holding's recapitalization of Refrig-IT Inc. and its affiliate Trilogy Warehouse Partners (together "Refrig-IT").

Star Mountain Capital, a rapidly growing employee-owned specialized investment firm with approximately $3.5bn AUM, focused on delivering systematic alpha and low market correlated returns from the lower middle-market, announced that MaryAnn Stauffer has joined as a Managing Director from Goldman Sachs Asset Management to help Star Mountain continue to bring institutional quality investment products to qualified wealth management firms, family offices and high-net-worth investors.

Grant Thornton LLP, one of America’s largest audit, tax and advisory firms, is expanding its private equity capabilities by hiring Bill McManus and Alex Arata to lead the firm’s Value Creation Planning services offering.

SKF has successfully signed a EUR 800 million multicurrency revolving credit facility. The facility has a tenor of five years with two one-year extension options, and it will serve as a back-up liquidity facility for general corporate purposes. It refinances SKF's existing and undrawn EUR 500 million syndicated credit facility and a separate EUR 250 million bilateral credit facility, which in aggregate totaled EUR 750 million.

SMBC Capital Markets, Inc., a member of SMBC Group, today announced the appointment of Matthew Grinnell as Head of Global Sponsor Coverage as the firm continues to grow its Americas Division Corporate Investment Bank.

Leading global professional services firm Alvarez & Marsal (A&M) announced the appointment of Bob Ruckh as a Managing Director in its Global Transaction Advisory Group (TAG). Mr. Ruckh’s hire demonstrates Global TAG’s commitment to driving value across the deal lifecycle by deepening its strategic advisory talent and client-focused teams. ​

PFSweb, Inc. (NASDAQ: PFSW), a premier eCommerce order fulfillment provider, announced today the closing of a $25 million asset-based secured lending agreement with Texas Capital Bank, the lending affiliate of Texas Capital Bancshares, Inc. (NASDAQ: TCBI).

Victory Park Capital (“VPC”), a leading global alternative investment firm specializing in private credit, today announced the launch of Triumph Capital Markets (“Triumph”), an affiliate of VPC focused on structured financing and capital markets solutions.