TSL Express Daily Articles & News

Diebold Nixdorf (NYSE: DBD) today announced an amendment to its asset-based credit facility (ABL) to add a new $55 million first-in-last-out term loan (FILO) tranche. Additionally, Diebold Nixdorf's ABL lenders have agreed to certain other modifications and waivers to the ABL facility, allowing them to continue to work together collaboratively to develop an updated borrowing framework. The existing $250 million non-FILO ABL tranche commitments remain in place.

Conifex Timber Inc. (“Conifex”) (TSX: CFF) announced today that it has entered into an amended and restated secured revolving credit facility with Wells Fargo Capital Finance Corporation Canada.

Gridiron Capital, LLC (“Gridiron Capital”), an investment firm focused on partnering with founders, entrepreneurs, and management teams, today announced that its portfolio company, Leaf Home™ (“Leaf Home”) a leading technology-enabled provider of home solutions, has appointed Jon Bostock Chief Executive Officer of the company.

An existing Sallyport client in the oil and gas services space has just been equipped with $2,000,000 accounts receivable finance to fund their most recent acquisition in the sector. Initially referred to Sallyport by a contact in the investment banking industry, the client is moving forward with their expansion plans, acquiring complementary businesses in the oil and gas services industry. These funds will enable them to restructure the debt incurred in acquiring the company and move progress with their growth plans

Pathward®, N.A., an industry leading financial empowerment company, today announced that two leaders from its Commercial Finance team, Sharmen Hall-Lengel and Stacy Sant, are profiled in the March 2023 issue of The Secured Lender, a magazine published by the Secured Finance Network (SFNet). The Women in Secured Finance feature article is published online at SFnet.com.

Iron Horse Credit (“IHC”), a leading inventory lender, is pleased to announce the closing of a $2,000,000 stand-alone inventory revolving line of credit to a Hydroponic Grow Systems and Nutrients Distributor. Iron Horse was able to pay off the company’s high-interest notes and provide the California-based entity with the working capital needed to support its growth.

Mitsubishi UFJ Financial Group (MUFG's) (NYSE: MUFG) announced today that it has hired Robert Ellenbogen to its Leveraged Finance team as a Managing Director and Senior Credit Analyst. Ellenbogen will be responsible for delivering industry and company-specific analysis to MUFG's Leveraged Finance Platform in support of deal origination, sales and trading, and investor connectivity, with a focus on the energy sector.

“Our Associates are the foundation of our culture and our business model, and we continue to make strategic and deliberate investments to attract, retain and develop talent,” said Michael L. Conklin, Executive Vice President and Chief Human Resources Officer.

Aequum Capital is pleased to announce it recently closed $9,000,000 in credit facilities to a fast growing consumer products retailer. The Company is backed by a well known sponsor which recently acquired the Company. The credit facilities include a working capital revolver and a cash flow-based term loan.

SLR Healthcare ABL is pleased to announce that it has provided a $2 million asset-based revolving line of credit to a skilled nursing facility in March 2023.

Amerisource Business Capital announced the closing and funding of a $4,500,000 bridge term loan for a Pennsylvania-based family-operated recreational property. The proceeds were used to support the company’s seasonal operations, ongoing growth, and working capital needs.

Wells Fargo Bank, N.A. is acting as administrative agent. Wells Fargo Securities, LLC, along with Sumitomo Mitsui Banking Corporation, DNB Markets Inc. and Credit Agricole Corporate and Investment Bank served as joint lead arrangers, with Barclays Bank PLC, Nordea Bank ABP, New York Branch, Morgan Stanley Bank, N.A., BNP Paribas and First Financial Bank as additional lenders.

Atlas Air Worldwide (“Atlas,” “AAWW” or the “Company”), a leading global provider of outsourced aircraft and aviation operating services, today announced that the investor group led by funds managed by affiliates of Apollo (NYSE: APO), together with investment affiliates of J.F. Lehman & Company (“J.F. Lehman”) and Hill City Capital (“Hill City”), has completed its previously announced acquisition of the Company.

Local Bounti Corporation (NYSE: LOCL, LOCL WS) ("Local Bounti" or the "Company"), a breakthrough U.S. indoor agriculture company combining the best aspects of vertical and greenhouse growing technologies, today announced that it amended its existing credit facility with Cargill Financial Services, Inc. ("Cargill"). Additionally, the Company announced select preliminary financial results for the year ended December 31, 2022.

The joint venture of Big Shoulders Capital and Iroquois Industrial Group has completed the acquisition of MOD Interiors, one of the leading architectural millwork, design and engineering firms in the nation. Since 1982, MOD has created stunning interior spaces of all kinds, including corporate headquarters, high-end restaurants, hotels, stadiums, universities, and residential. Its work has received numerous national awards including the Architectural Woodwork Institute’s Standard of Excellence.

Schulte Roth & Zabel represented D.E. Shaw in their cooperation agreement with FLEETCOR, a leading global business payments company. As part of the agreement, FLEETCOR has appointed Rahul Gupta to the Company's Board of Directors (the "Board"), agreed to add another, mutually agreed-upon director to the Board and agreed to form an ad hoc Strategic Review Committee.

Commercial Credit Group Inc. (CCG), an independent commercial equipment finance company, today announced that it has finalized a $397,080,000 term asset-backed security (ABS) transaction. The securitization was placed with a diversified group of fixed income investors from 34 unique institutions.

Pinnacle Capital Finance is pleased to announce the issuance of a $5MM Accounts Receivable line of credit for a semiconductor design and manufacturing company that specializes in digital microwave technology. The Pinnacle Capital Finance loan is structured with the ability to deem eligible account debtor concentrations up to 75% as a result of large orders related to their military and aerospace customer base.

Jeff Feit joined Summit in February 2023 as a Managing Director. His primary responsibility will be business development and deal sourcing. Prior to Summit Jeff worked at Marblegate Asset Management from 2019-2022.

The Small Business Administration will host a webinar entitled “Asset Based Finance – An All-Weather Solution for Small Business Borrowers” featuring a panel of members of the Secured Finance Network. The informative event, which is being presented by SBA’s Office of International Trade, will take place on April 5th and is directed toward community banks who may see complementary opportunities for this type of financing.