TSL Express Daily Articles & News

Winston & Strawn is representing Atlis Motor Vehicles, Inc. (NASDAQ: AMV), a vertically integrated electric vehicle technology ecosystem company, and the first battery cell manufacturer to be fully owned and operated in the US, in connection with the pricing of its public offering of 8,334,000 units.

IDB Bank (IDB), a New York-based private and commercial bank, has announced the expansion of its Sponsor & Leverage Finance team. As part of this expansion, IDB aims to further its presence within the leverage finance space, a key area of growth over the next several years.

Bain Capital Credit, LP (“Bain Capital Credit”), a leading global credit specialist, today announced the launch of Bain Capital Private Credit (“BCPC” or the “Fund”), a perpetual life, non-traded business development company. The Fund will offer access to income-producing investments in middle market companies that have historically been available mostly to institutional investors. Bain Capital Credit has been a longstanding investor in the middle market since its founding in 1998.

Crayhill Capital Management, a New York-based, minority-owned private credit manager focused on asset-based investments, announced today the close of a $200 million receivables financing facility with Stenn Technologies, a UK-based SME finance platform. The facility, which will initially be $200 million, expandable to up to $400 million, is collateralized by a diverse portfolio of high-quality, short-term trade receivables. Goldman Sachs provided a committed senior credit facility against the portfolio in the initial amount of $175 million.

Customers Bank, a digital and fintech-forward super-community bank with a growing number of operations across the nation and the bank subsidiary of Customers Bancorp, Inc. (NYSE:CUBI), announced the launch of a new Loan Syndications Banking Team, expanding the bank’s lending services for middle market businesses and lead deals to support the bank’s existing and future national lines of business.

Houlihan Lokey, Inc. (NYSE:HLI), the global investment bank, announced today that Daniel East has joined the firm’s Capital Markets Group as a Managing Director. Mr. East is based in Houston and will predominantly partner with the firm’s Oil & Gas Group as well as Houlihan Lokey’s Power & Utilities team to provide private capital financing solutions to the firm’s clients in these sectors.

Austin Financial Services, Inc. (AFS) is pleased to welcome Stacey Huddleston as its new SVP, ABL Originations. In this role, Huddleston will continue to expand the company’s Asset Based Loan (ABL) origination efforts throughout the Midwest region. Huddleston brings with him 22 years of commercial finance and asset-based lending experience. Prior to joining AFS, he held leadership roles with Seacoast Business Funding and Prestige Capital.

AlixPartners, the global consulting firm, today announced that it has entered into an agreement to acquire leading independent restructuring practice THM Partners LLP (THM). The proposed transaction will see THM’s 40 Partners and staff located in the UK, Germany, and Singapore joining AlixPartners’ world-leading Turnaround & Restructuring Services practice.

On December 30th, 2022, Flatbay Capital LLC closed a $5.9MM commercial real estate secured line of credit for a large general contractor in Houston. We also introduced an equipment lending partner and together we were able to fully pay off the bank before year's end.

Global law firm White & Case LLP has advised the lenders on a senior term and revolving credit facility agreement to finance the acquisition by British investment fund Telemos Capital of a majority stake in Vittoria, an Italian manufacturer of bicycle tyres and related accessories. The pool of lenders comprised Crédit Agricole, UniCredit, BPER Banca, Deutsche Bank and Muzinich.

SG Stonegate Capital is excited to announce its newest partnership: Mike’s Hot Honey. Mike’s Hot Honey was born from a desire to create and share the highest quality honey infused with chili peppers. The brand is a welcomed addition to SG Stonegate's pizza pies, pantry, and the portfolio. The debt financing will support Mike’s Hot Honey’s continued growth, innovation and expansion.

FTI Consulting, Inc. (NYSE: FCN) today announced findings from its Technology segment’s study of digital insights and risk management trends, which revealed that digital risk is rapidly surpassing other areas of corporate risk as the primary business concern and that data has become inextricably linked to business success.

BMO Financial Group today announced the appointment of Nadim Hirji as Group Head, BMO Commercial Banking. Mr. Hirji will report to Chief Executive Officer Darryl White and join the bank's Executive Committee. His appointment is effective March 1, 2023.

Stonebriar Commercial Finance (“Stonebriar”) today announced it continued to serve its valued customer base, originating $2.3 billion of new business volume for 2022, a 53% increase over 2021, while increasing ending receivables and serviced assets to over $5.6 billion. The significant increase in volume resulted in a 54% increase in operating income and a 57% increase in ending receivables.

Winston & Strawn is representing Roadzen, Inc., a global insurance technology company, in its announced business combination with Vahanna Tech Edge Acquisition I Corp. (Nasdaq: VHNA), a special purpose acquisition company. Upon the closing of the transaction, the combined company will operate as Roadzen Inc. and expects to be listed on Nasdaq.

B. Riley Advisory Services, a leading provider of specialty business advisory services, today announced it has expanded the firm’s appraisal and valuation services with the addition of a dedicated field examination practice. This experienced team specializes in developing company-specific field examination procedures in collaboration with lenders to support new and existing credit facilities.

Target Hospitality Corp. ("Target Hospitality", "Target" or the "Company") (NASDAQ: TH), one of North America's largest providers of vertically integrated modular accommodations and value-added hospitality services, announced on February 2, 2023, that it has amended and extended the terms of its ABL Credit Agreement, dated March 15, 2019 (as amended, the "Amended ABL Facility"), further solidifying its strong financial position and the foundation to continue executing it growth strategy.

Wells Fargo Securities, LLC, RBC Capital Markets, Citibank, N.A. and PNC Capital Markets LLC acted as Joint Lead Arrangers for the amendment to DHC’s credit agreement. Wells Fargo Bank, National Association is the Administrative Agent and Collateral Agent for the facility.

Ares Commercial Finance announced today that it has provided a $22.5 million senior secured credit facility to a leading offline processor and wholesale distributor of branded and private-label commodity, specialty and hard-cooked eggs predominantly in the Northeast and Mid-Atlantic markets. The credit facility consists of an asset based revolving line of credit. Proceeds of the credit facility will be used to refinance existing indebtedness and for ongoing working capital needs.

AccessOne, a leading provider of consumer-centric patient payment tools and financing options, today announced that PNC Bank has renewed and expanded its credit facility to $300 million, up from the previous $225 million closed in 2019. The new three-year securitization positions AccessOne to help more healthcare organizations offer simplified and affordable payment options to patients at a time when 71% of consumers say inflation has affected their ability to pay their medical bills, according to a recent AccessOne survey.