TSL Express Daily Articles & News

C&N (Citizens & Northern Corporation, NASDAQ: CZNC), the leading financial services company in the region, announced that Kelley Cwiklinski has been promoted to Executive Vice President & Chief Commercial Lending Officer based in Doylestown, PA. As the Chief Commercial Lending Officer, Kelley will develop, drive and monitor the Commercial Lending function's annual and long-term business plans and budgets.

BlackArch Partners, a leading middle-market investment bank, announced five promotions, including Ryan Jackson to Managing Director, Jonathan O’Connor to Director, and Nhan Nguyen, Zach Daniels and Chris Lyons to Vice President. These well-deserved promotions reflect BlackArch’s continued success and growth.

Phoenix Services LLC ("Phoenix Services" or the "Company") has received support from an Ad Hoc Group of lenders (defined below) for terms of a restructuring that (i) creates a path to emerge from chapter 11 mid-year, (ii) provides $45mm of new money to invest in the business, (iii) reduces over $500mm of funded indebtedness, (iv) positions the Company to be more profitable and competitive while continuing to provide best-in-class service.

Peter Malmstrom has joined Associated Bank as senior vice president & regional senior credit officer, corporate banking. He is responsible for approval and concurrence duties for the bank’s commercial lending groups.

Allied Healthcare Products, Inc. ("AHP" or the "Company"), a leading manufacturer of medical gas construction equipment, respiratory therapy equipment, home healthcare products and emergency medical supplies, today announced strategic transformation initiatives intended to improve operational effectiveness to better serve customers and help drive growth and profitability. The Company also announced today the closing of a new senior secured credit facility agreement with Sterling Commercial Credit to support its ongoing operations and strategic direction.

QualTek Services Inc. ("QualTek" or the "Company") (NASDAQ: QTEK), a leading turnkey provider of infrastructure services to the North American 5G wireless, telecom, power grid modernization and renewable energy sectors, today announced the successful closing of new money incremental term loans providing $55 million in immediately available funds under its existing term loan credit agreement.

JB Capital, an alternative credit manager investing in areas of the market underserved by traditional banks announces the launch of its Merchant Banking Income Fund II (MBIF II), a second iteration of the firm’s flagship fund.

The $1.25 billion senior secured term loan facility, which was privately placed with institutional investors, will accrue interest at an annual rate of SOFR+350, plus an additional 10 basis point credit spread adjustment, and will mature on March 16, 2030. Bank of America, N.A., JPMorgan Chase Bank, N.A., MUFG Securities Americas Inc., and Truist Securities, Inc. acted as Joint Lead Arrangers and Joint Bookrunners. The $525 million senior secured ABL revolving credit facility, led by Bank of America, N.A. as Administrative Agent, will mature on March 16, 2028.

White Oak Global Advisors, LLC, (“WOGA”), a global alternative asset manager providing flexible and secure funding to help businesses grow, today announced that the firm, together with its financing affiliates (collectively “White Oak”), originated $1.4 billion of loan transactions across 60 deals in 2022.

Republic Business Credit is proud to announce the addition of Christy Morgan to the team as Vice President and Legal Manager, reporting directly to CEO Stewart Chesters. In the new role, Morgan will oversee all legal materials for onboarding clients and work on amendments for existing clients. She will partner with the underwriting, sales and client service teams to provide crucial support across the business. Her expertise in disclosure and regulatory requirements adds tremendous value to the company and its fast-paced growth trajectory.

Tradecycle Capital, a highly-tech enabled supply chain finance company, recently closed a $100 Million securitization facility with DZ BANK AG. The execution of the facility represents a 150% total increase to a facility that began in June of 2019. The increase will be utilized to support Tradecycle’s continued growth as it expands its relationships with Private Equity Sponsors and Senior Lenders.

Polaris Renewable Energy Inc. (TSX:PIF) ("Polaris" or the "Company"), a Toronto-based company engaged in the operation, acquisition, and development of renewable energy projects in the America's, is pleased to announce that it has signed an agreement with Export Development Canada ("EDC") for a $10M USD Floating Rate Term Loan Facility (the "Facility").

Oatly Group AB (Nasdaq: OTLY) (“Oatly” or the “Company”) announced today that on March 14, 2023, it entered into privately negotiated agreements with certain investors pursuant to which Oatly agreed to sell and the investors agreed to purchase from Oatly $300 million aggregate principal amount of 9.25% Convertible Senior PIK Notes due 2028 (the “Notes”).

First Citizens Bank today announced that its Middle Market Banking group is expanding yet again – this time to better support the financial needs and goals of midsize businesses in the Midwest and South Central U.S.

Republic Bancorp, Inc. (NASDAQ: RBCAA) (“Republic” or the “Company”), the parent company of Republic Bank & Trust Company (“Republic Bank” or the “Bank”), is pleased to announce the Bank has completed its previously announced merger with CBank and CBank’s wholly owned subsidiary, Commercial Industrial Finance, Inc. (“CIF”), for approximately $51 million in cash.

Comerica Bank is bolstering its Small Business Banking segment with the appointment of three regional directors – Sandra Felegy, Brent Harraman and Meghan Storey – to expand its reach in small business communities. Additionally, Comerica will debut several digital solutions throughout 2023 with a focus on payments and access to convenient capital.

Oxford Bank Corporation ("the Company") (OTC Bulletin Board: OXBC), the holding company for Oxford Bank ("the Bank"), today announced the appointment of two executive leaders, Michael ("Mick") Goik, President, Oxford Commercial Finance and Matthew Lowman, Oxford Bank Executive Vice President, and Chief Risk Officer, to the Oxford Bank Board of Directors, effective immediately.

TILT Holdings Inc. announced the extension of its existing revolving credit facility, together with the appointment of a new board member pursuant to its recently completed debt refinancing. Jupiter Research, LLC (“Jupiter”), a subsidiary of TILT, entered into an amendment to its existing US $10 million asset-based revolving credit facility (the “Facility”) to increase the amount available under the Facility from US $10.0 million to US $12.5 million, and extends the maturity date to July 21, 2024.

A former client reached out because they were experiencing cash flow difficulties similar to what previously led them to Franklin Capital. The non-profit staffing firm needed a short-term facility to help cover their payroll and expenses while they waited for a delayed payment from their primary payer. Franklin Capital successfully provided the company with an $800,000 undisclosed factoring facility allowing them to make payroll and cover their expenses.

LSQ, a leading provider of technology-driven working capital financing and payments solutions, announces the hire of Brian Rieber as Vice President of Working Capital Solutions. In his role, Rieber will be focused on helping companies create supply chain finance programs to meet their liquidity needs.