TSL Express Daily Articles & News

BankUnited, N.A., one of the largest independent depository institutions headquartered in Florida, is expanding its Florida corporate banking division with the addition of three bankers who will help serve the bank’s growing portfolio of middle-market and large corporate companies doing business throughout the region.

Huntington Business Credit announced it closed a new credit facility with Needler Enterprises, Inc. on February 27, 2023. Proceeds of the facility were used to refinance existing debt and provide ongoing working capital growth financing.

Vesper Energy, a leading developer, owner, and operator of utility-scale renewable energy assets, today announced it has upsized its existing letter of credit (LC) facility from $140 million to $200 million. The upsizing, which follows the recent tax equity closures and debt financing of Vesper Energy's Nestlewood and Gaucho solar energy facilities, reinforces Vesper Energy's continued growth and success in the renewable energy industry.

Sound Point Capital Management, LP, a credit-oriented investment manager overseeing approximately $32 billion in total assets, is pleased to announce that it has entered into an agreement to acquire Assured Investment Management LLC and certain of its related asset management entities (“Assured-IM”), which conducts the institutional asset management business of Assured Guaranty Ltd. (together with its affiliates, “Assured Guaranty”).

Locus Fermentation Solutions (Locus FS), a green tech company that produces biological alternatives to chemicals that advance decarbonization goals, has secured $117 million in IP-insurance backed debt financing arranged by Jefferies (NYSE: JEF)—bringing its total raise to over $250 million. The financing was driven by the value of Locus Fermentation Solutions’ intellectual property (IP) and library of more than 1,300 biomanufacturing technology patent filings.

Capital One announced today that it has made a $90 million tax equity investment in the 120 megawatt (MW) Jackpot Solar project, which, upon completion, is expected to be the largest solar facility in Idaho. The sponsor, Duke Energy Renewables, is a leading U.S. developer of wind and solar energy solutions, owning and operating facilities generating 2,900 MW.

South Plains Financial, Inc. (NASDAQ:SPFI) (“South Plains” or the “Company”), the parent company of City Bank, today announced that it has sold City Bank’s wholly-owned subsidiary, Windmark Insurance Agency, Inc. (“Windmark”), to Alliant Insurance Services, Inc. (“Alliant”). The transaction closed on April 1, 2023.

Sidley is pleased to announce the addition of partner Rakhee V. Patel to its Restructuring group. She joins Texas-based partners Duston McFaul and Charles Persons in Sidley’s growing global Restructuring practice, on the heels of the recently announced addition of London-based partner Kieran Sharma.

Monroe Capital LLC announced it acted as sole lead arranger and administrative agent on the funding of a senior credit facility to support the strategic investment and future growth of Amelia, alongside private equity sponsor BuildGroup.

Revlon, Inc. (“Revlon” or the “Company”) today announced that the United States Bankruptcy Court for the Southern District of New York has confirmed the Company’s Plan of Reorganization (the “Plan”). The Plan positions Revlon to emerge from bankruptcy in late April – consistent with the timeline announced at the beginning of the restructuring.

B. Riley Financial, Inc. (NASDAQ: RILY) (“B. Riley”), a leading provider of business advisory and financial services, is pleased to share it earned top honors during The M&A Advisor 17th Annual Turnaround Awards Gala held on March 22, 2023 at The Colony Hotel in Palm Beach, Florida.

Houlihan Lokey, Inc. (NYSE:HLI), the global investment bank, announced today that it has hired technology investment banking veteran Alec Ellison as Global Head of FinTech, a newly dedicated industry group that builds on the firm’s leading technology and financial services expertise and underscores its view of and commitment to financial technology as a fundamental element of the financial ecosystem.

Rosenthal & Rosenthal, Inc., the leading factoring, asset-based lending, purchase order financing, d2c and e-commerce inventory financing firm in the United States, today announced the completion of seven recent ABL transactions totaling roughly $70 million.

Gordon Brothers, the global advisory and investment firm, has supported Modus Subsea Services Limited (Modus) with a £5 million term loan. Modus, a pioneer in the use of Underwater Intervention Drones to automate and decarbonize subsea inspection, maintenance and repair services, has used the loan for refinancing with existing lenders and to assist in developing best-in-class solutions for clients globally.

In conjunction with a growing Asset-Based Lending (“ABL”) portfolio, experienced ABL experts Jim Allin and Travis Stauffer of Dallas, Texas have joined the ABL team as portfolio managers.

AB “Ignitis grupė” (hereinafter – the Group) informs that on 4 April 2023 the Management Board of the Group approved the intention to conclude a credit facility agreement of EUR 100 million (hereinafter – the Agreement) with Citibank N.A. London Branch (hereinafter – Citibank).

Flatbay Capital announces the funding of a $4,300,000 commercial real estate loan for a research and development, engineering, and testing company that supports the energy industry. In business for 20 years, our client was faced with its most challenging year yet. The company spent years developing a new product line and the release happened right before COVID.

Kapitus, a leading provider of financing for small and medium sized businesses, today announced the closings of a $100 million asset-backed securitization (ABS) and a $30 million investment-grade corporate note financing. These closings bring Kapitus’ total debt facilities to $540 million.

Truist (NYSE: TFC) announced today that it has completed the previously announced sale of a 20% stake in Truist Insurance Holdings, LLC, a subsidiary of Truist and the sixth-largest insurance brokerage in the United States, to funds managed by Stone Point Capital, a leading private equity firm focused on the global financial services industry, for $1.95 billion, representing an aggregate value of $14.75 billion.

New bankruptcy filings in March 2023 registered year-over-year increases across all U.S. major filing categories for the third month in a row, according to data provided by Epiq Bankruptcy, the leading provider of U.S. bankruptcy filing data.