TSL Express Daily Articles & News

MidCap Business Credit announced today they have closed on an $6,500,000 asset-based credit facility to a New England-based distributor of licensed pharmaceutical products. The new relationship and was sourced and closed out MidCap’s headquarters in West Hartford, CT.

Blue Ridge Bankshares, Inc. (NYSE American: BRBS) (the "Company"), the holding company of Blue Ridge Bank, N.A. (the "Bank") and BRB Financial Group, Inc., today announced that G. William ("Billy") Beale has been appointed as Chief Executive Officer of the Bank, effective as of May 7, 2023.

Credit conditions for U.S. business and households continued tightening in the first months of the year, according to a Federal Reserve survey of bank loan officers, but the results seemed to mark the accumulating impact of Fed monetary tightening rather than the cliff-like decline in credit some feared after the March collapse of Silicon Valley Bank.

He will co lead the M&A team with David DeNunzio, who has led the business since he joined Wells Fargo in late 2016. Both report to Tim O’Hara, head of Banking. Jeff joins Wells Fargo from Morgan Stanley where he most recently was co head of Global Technology Mergers & Acquisitions.

Fueled by the firm’s total commitments exceeding $100 Million in Q1 of 2023, financial position strengthens as Wells Fargo and Truist Financial welcome Bank of America to participate in the line of credit.

Based out of the Chicago office, Ms. Fagan is responsible for originating new business opportunities for FGI’s asset-based lending business by cultivating relationships throughout the Midwest marketplace.

Wintrust Business Credit (WBC), a subsidiary of Wintrust (NASDAQ: WTFC), today announced the addition of Benjamin Doran as Senior Vice President- Business Development, expanding WBC's footprint into the upper Midwest as part of the group's expansion into new strategic markets.

Gridiron Capital, LLC (“Gridiron Capital”), an investment firm focused on partnering with founders, entrepreneurs, and management teams, is pleased to announce that Mars Shah has joined the team as Gridiron’s newest Operating Partner and CEO in Residence.

JPMorgan Chase Bank, N.A. acted as administrative agent. JP Morgan Chase Bank, N.A.; Comerica Bank; HSBC Bank USA, National Association; UniCredit Bank AG; and TD Bank, N.A. served as joint lead arrangers, joint bookrunners, and co-syndication agents. Santander Bank, National Association and Bank of America, N.A. functioned as co-documentation agents.

Tree Island Steel Ltd. (the “Company” or “Tree Island”) (TSX:TSL) announced today, that it has successfully renewed its senior banking facility with current lender Wells Fargo Capital Finance Corporation Canada (“Wells Fargo”).

Continental Bank is pleased to announce the appointment of Kelly Barnett as a member of its Board of Directors and chairman of its Strategic Partnership committee. Mr. Barnett also entered into a long-term consulting contract to help the Bank build and manage a premier strategic partner bank sponsorship business.

Kim Withrow has joined as General Counsel. Kim has served as in-house counsel for lenders in a wide range of commercial transactions including eCapital (formerly Bibby Financial), First Capital and Heller Financial. Kim joins us from her most recent role as part of the corporate finance team at King & Spalding.

Republic Business Credit is proud to announce that Controller Diane Wszalek was selected as one of Secured Finance Network’s “40 Under 40” honorees. Awarded annually, this prestigious recognition honors exemplary young professionals who are successful in the secured finance industry and have made significant contributions to their communities.

MPOWER Financing, a mission-driven fintech firm and a leading provider of non-cosigned loans to promising students from around the world, announced that it recently closed a $150 million revolving asset-backed warehouse facility with Goldman Sachs.

4Front Ventures Corp. (CSE: FFNT) (OTCQX: FFNTF) ("4Front" or the "Company") announced today that it has entered into a non-binding term sheet ("Term Sheet") with its senior secured lender, LI Lending, LLC ("Lender") to extend the maturity date, reduce the interest payable, and expand the third-party financings available under the December 17, 2020 Amended and Restated Loan and Security Agreement.

Securitize, a firm digitizing the issuance, management, and trading of real-world assets, today launched a new feeder fund offering tokenized exposure to an evergreen private credit fund from leading private markets investment firm, Hamilton Lane (Nasdaq: HLNE), available exclusively on the Polygon blockchain.

LexisNexis® Risk Solutions released its latest Small and Midsize Business (SMB) Lending Fraud Study. Based on a survey of lenders, SMB lending fraud has increased significantly during the past 12 months, with many smaller banks, credit unions and fintechs expecting fraud levels to worsen over the next year.

Clifford Chance announced today the appointment of partner Zarrar Sehgal as Head of the firm’s Global Asset Finance Group.

Stonebriar Commercial Finance (“Stonebriar”) today announced the closing of a $100 million construction financing and long-term lease on new passenger rail cars. This transaction supports the Lessee’s further expansion to service its growing customer base.

Sound Point Capital Management, LP is an asset management firm founded in 2008 with particular expertise in credit strategies.