TSL Express Daily Articles & News

Stabilis Solutions, Inc. announced that it has successfully arranged a new, $10 million secured revolving credit facility (the "Facility") with Cadence Bank. The Facility, which matures in June 2026, includes a $5 million accordion provision, subject to lender approval.

Instant Brands, the parent company of Instant Pot, Pyrex, CorningWare, Chicago Cutlery and other big household names, has filed for Chapter 11 protection, citing unsustainable debt and other macro-economic challenges.

Abacus Finance Group, LLC – a leading provider of cash flow-based, classic senior debt for sponsor-led buyouts of lower middle-market companies – today announced that it served as Senior Secured Credit Facilities Administrative Agent and Joint Lead Arranger for senior secured credit facilities to support the growth recapitalization of Triple Crown Consulting by WestView Capital Partners.

The client was referred to Sallyport through a broker and needed an influx of working capital to support their payroll obligations while they focus on growing their client base. Dan Millar, vice president for Sallyport, was pleased that with the usual Sallyport team effort, the customer was funded quickly and efficiently.

Growth Lending has closed a $2.5m, single-customer concentration working capital facility for a manufacturer of baby blankets and swaddling products.

Moritt Hock & Hamroff is pleased to welcome Sidney Balaban, Danielle Halevi, Mary Johnson, Juliette Matchton, Sam Tanenbaum, and Isaiah Williams to its 2023 Summer Associates & Legal Interns Program. Sidney, Danielle, Mary, Juliette and Sam join the firm as Summer Associates while Isaiah joins as a Legal Intern.

Hidden River Strategic Capital, a Philadelphia-based investment firm, announced that its inaugural fund, Hidden River Strategic Capital I, LP (“Hidden River” or the “Fund”), has closed on $245 million of committed capital, significantly above its initial target.

Exponential Power Inc., a provider in stored power services utilized by the energy services, utilities, industrial, telecom, data center, motive power, and material-handling markets and backed by High Road Capital Partners, has purchased DC Kilowatts. Twin Brook served as administrative agent on debt financing in this transaction.

Representing one of the first significant real estate debt transactions in this market cycle, global real estate investment company Kennedy Wilson (NYSE: KW) has closed on the initial tranche of loans as part of a $5.7 billion loan portfolio acquisition from Pacific Western Bank.

Riveron (or “the Company”), a national business advisory firm focused on the office of the CFO, private equity, and other capital providers, announced today that it has entered into a definitive agreement to be acquired by affiliates of Kohlberg & Company (“Kohlberg”). H.I.G. Capital (“H.I.G.”) will continue its partnership with Riveron through a minority investment.

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and over $6 billion in assets, today announced that it has invested $1 million in Healthy Neighborhoods Equity Fund II (HNEF II).

Interactive Strength Inc. d/b/a FORME (the "Company", or “FORME”) (NASDAQ: TRNR), maker of premium smart home gyms and provider of virtual personal training services, announces that on June 6th the Company signed a note purchase agreement to issue senior secured notes (the "Notes") with gross proceeds to the Company of up to $15.0 million.

Spearmint Energy (“Spearmint” or the “Company”), a next-generation renewable energy company enabling the clean energy revolution through battery energy storage, today announced the close of a $200 million credit facility with Aiga Capital Partners (“Aiga”), an investment management firm providing flexible capital solutions to North American-based companies developing sustainable infrastructure assets.

BofA Securities, Inc. served as Lead Arranger for the ABL Facility. The Company received strong support from the other participants in its bank group, including Wells Fargo, J.P. Morgan, Goldman Sachs, Fifth Third, PNC, Truist, New York Community Bank, BMO, Credit Suisse, MUFG, Regions, Capital One, Barclays, Huntington, ING, U.S. Bank, RBC and First Citizens.

First Commerce Bank ("Bank") and First Commerce Bancorp, Inc. (OTC PINK:CMRB) announced today that Ms. Jill M. Ross has been appointed SVP, Chief Experience Officer ("CXO") of the Bank. Ms. Ross, who most recently served as Acting Director/ Assistant Division Director at the New Jersey Department of Banking and Insurance, will be responsible for leading business development and the Business Banking division for the Bank.

Lucky Bucks, LLC and its parent, Lucky Bucks HoldCo, LLC (collectively, “Lucky Bucks”), among the largest Class B coin operated amusement machine (“COAM”) operators in Georgia, today announced a recapitalization transaction with the overwhelming support of its secured lenders holding over 86% of Lucky Bucks’ secured debt.

MUFG Bank, Ltd. and Natixis, New York Branch are Joint Lead Arrangers and Joint Bookrunners for the Facility. Coöperatieve Rabobank U.A., New York Branch, Société Générale and Wells Fargo Bank, N.A., are Joint Lead Arrangers. MUFG Bank, Ltd. is the Administrative Agent. The Co-Syndication and Co-Documentation Agents are Coöperatieve Rabobank U.A., New York Branch, ING BANK N.V., Société Générale and Wells Fargo Bank, N.A.

Avolon Holdings Limited (‘Avolon’), the international aircraft leasing company, announces the extension of the TLB-3 tranche of its senior secured US$2.92 billion Term Loan B facility (the ‘Facility’).

UBS has completed the acquisition of Credit Suisse today, crossing an important milestone. Credit Suisse Group AG has been merged into UBS Group AG and the combined entity will operate as a consolidated banking group.

The Huntington National Bank ("Huntington") announced today the addition of a fund finance banking team to support its sponsor finance business within the Commercial Bank. The 10-person team will significantly boost Huntington's capabilities by providing strategically important financing directly at the fund level and expanding coverage across the sponsor ecosystem.