TSL Express Daily Articles & News

Akin has advised an ad hoc group of first lien creditors of Talen Energy, one of the largest competitive power generation and infrastructure companies in North America, as Talen announced the completion of its strategic restructuring transactions. The chapter 11 reorganization plan includes the full repayment of $848 million owed to the first lien creditors, as well as the payment of an agreed-upon make-whole premium and postpetition interest. The plan also contemplates a $1.4 billion common equity rights offering, a $1.2 billion private offering of senior secured notes, a $700 million revolving credit facility, a $580 million Term Loan B credit facility, a $470 million Term Loan C credit facility and a $75 million bilateral line of credit.

Wildpack Beverage Inc. (TSXV:CANS)(OTC PINK:WLDPF) ("Wildpack" or the"Company") today announces that it has entered into an amended and restated loan agreement (the "A&R Loan Agreement") with Sandton Credit Solutions Master Fund V, LP (the "Lender"), an affiliate of Sandton Capital Partners, L.P. ("Sandton"), via each of its wholly-owned subsidiaries, Thirsty Cat, LLC, Hungry Hippo Company, Wildpack Holdings U.S. Inc., K.T. Murray Corporation, CraftPac LLC, Wild Leaf Holdings U.S. LLC, Vertical Distilling LLC and Wild Leaf Ventures Group Nevada Inc., as borrowers (collectively, the "Borrower"), pursuant to which the Lender will advance to the Borrower a non-revolving term credit facility in the principal amount of USD$25,000,000 (the "Loan"). The A&R Loan Agreement fully amends and restates the loan agreement among the Lender and the Borrower as described in the Company's news release dated April 19, 2023 (the "Original Loan Agreement"), and the principal amount of the Loan includes the USD$12,500,000 advanced to the Borrower pursuant to the Original Loan Agreement. The Loan is convertible into approximately 49% of the equity of Thirsty Cat, LLC ("Thirsty Cat"), as more particularly described below.

Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC) and Peapack-Gladstone Bank are proud to announce the appointment of John P. O’Gorman, Senior Vice President, Head of Special Assets at Peapack-Gladstone Bank. Working out of the Bank’s Headquarters in Bedminster, New Jersey, Mr. O’Gorman’s primary role includes managing various workout situations and processes for the Bank. Responsibilities also include managing the workout portfolio, recommending risk rating changes and impairment levels to executive management, negotiating with borrowers, developing workout strategies, assisting with policy and procedure updates and other credit-related matters.

Law firm Davis Polk & Wardwell said Monday that it has hired two corporate partners away from Latham & Watkins in New York, including one who will help establish a new infrastructure finance practice group at the firm.

BizCap®, a commercial finance firm established in 2002, is proud to announce its successful collaboration with CodeScience, an independent software development and services vendor specializing in developing bespoke, top-performing Salesforce applications and enterprise solutions since 2008.

Lifecore Biomedical, Inc. (“Lifecore” or the “Company” Nasdaq: LFCR), a fully integrated contract development and manufacturing organization (“CDMO”), today announced that it has entered into a broad set of agreements with its long-term customer, Alcon (SIX/NYSE: ALC), which provides for the repayment of the Company’s existing credit agreement with its current lenders and substantially increases the amount of hyaluronic acid (“HA”) that Lifecore is expected to supply for use in Alcon’s commercial products.

SG Credit Partners, through its SG Consumer Products division, is thrilled to announce its partnership with The Good Crisp Company, a dynamic brand of better-for-you snacks that deliver in taste without guilt.

The Cosine Group (“Cosine”), an affiliate of Armory Securities, LLC, is pleased to announce that JPG Plumbing & Mechanical Services, Inc. (“JPG”) has been acquired by Exigent, a portfolio Company of Huron Capital. This strategic partnership will support the Company’s continued growth trajectory and ongoing service line expansion. The transaction closed in March 2023 and Cosine served as exclusive M&A advisor.

Winsight, a B2B information provider in the foodservice and allied retail industries, will combine with London-based Informa, a publicly traded global events, digital products and academic services firm. Informa acquired Winsight from HPS Investment Partners and the combination with Informa’s existing B2B foodservice portfolio establishes a B2B business.

Contango ORE entered into a credit and guaranty agreement with ING Capital and Macquarie Bank for a senior secured loan facility of up to $70 million, of which $65 million is committed and subject to certain conditions, to fund a portion of the pre-production construction and working capital/operating expenditures for the Manh Choh gold project in Alaska, which is owned and operated by Peak Gold.

Clarus Capital completed a new $25 million lease facility for a sponsor-backed precision components manufacturer. The financing proceeds will support the installation of new production equipment across multiple facilities.

Mid Penn Bancorp completed its acquisition of Brunswick Bancorp., with Brunswick’s banking subsidiary, Brunswick Bank & Trust, merging with and into Mid Penn’s subsidiary bank, Mid Penn Bank. The combined stock and cash transaction was valued at approximately $43.7 million and will extend Mid Penn’s footprint into Middlesex and Monmouth counties in central New Jersey. The consolidated assets of the combined company are valued at approximately $5 billion.

KKR named Dan Pietrzak global head of private credit. Most recently, Pietrzak served as co-head of private credit with Matthieu Boulanger, who is leaving KKR to pursue other opportunities.

Contango ORE, Inc. (“CORE,” “Contango” or the “Company”) (NYSE American: CTGO) is pleased to announce that it and its subsidiaries have entered into a Credit and Guaranty Agreement with ING Capital LLC (“ING”) and Macquarie Bank Limited (“Macquarie”) for a senior secured loan facility of up to US$70 million, of which $65 million is committed and subject to certain conditions, to fund its portion of the pre-production construction and working capital/operating expenditures for the Manh Choh gold project in Alaska (“Manh Choh”), which is owned and operated by the Company’s 30% owned Peak Gold, LLC (“PGJV”). PGJV has received the federal permits needed for road construction and early work construction, which has been underway since August 2022 and continued throughout the winter months. PGJV also received the State of Alaska approval for the Mine Operating and Closure Plan on May 15, 2023 and mine site construction work will be underway shortly. First gold production from the project is expected in the second half of 2024.

A UK-based construction consultant was working with Branta, a corporate finance advisory practice, to grow their US operations. They lacked the working capital to operate independently of their UK headquarters. It had been difficult for them to secure the financing they needed because their main business was in the UK.

Moritt Hock & Hamroff announced today the addition of three attorneys to its New York City and Garden City offices, illustrating the firm’s continued expansion and growth. The move bolsters its M&A and Tax practice areas with Michael B. Kaufman joining as a Partner and serving as Chair of the firm’s Tax Practice Group, Brian C. Daughney joining as a Partner in its Corporate, M&A and Securities Practice Group, and Murray D. Schwartz joining as Senior Counsel. All three were formerly partners with Warshaw Burstein, LLP.

Today, Airspan Networks Holdings Inc. (NYSE:MIMO) (“Airspan”), a provider of ground-breaking, disruptive software and hardware for 5G networks and a pioneer in end-to-end Open RAN solutions, announced that it has entered into a new financing agreement with affiliates of Fortress Investment Group.

iBusiness Funding, LLC, a leading provider of innovative lending solutions like LenderAI and Lending as a Service (LaaS), today announced the acquisition of select non-SBA assets and talent from Fountainhead SBF LLC.

SSG Capital Advisors, LLC (“SSG”) acted as the investment banker to The Protective Group, Inc. (“TPG” or the “Company”), a portfolio company of Argentina based Exxel Group (“Exxel”) in the sale of substantially all of its assets to Point Blank Enterprises, Inc., (“Point Blank”), a portfolio company of JLL Partners (“JLL”). The transaction closed in October 2015.

Sound Point Capital Management, LP, a credit-oriented investment manager overseeing approximately $32 billion in total assets, is pleased to announce it has hired Gunther Stein to become Head and Chief Investment Officer (CIO) of its U.S. Performing Credit and CLO platform.