TSL Express Daily Articles & News

Avaya Holdings Corp. (NYSE: AVYA) (“Avaya” or the “Company”), a global leader in solutions to enhance and simplify communications and collaboration, today announced that it has entered into a Restructuring Support Agreement (the “Financial Restructuring”) with overwhelming support of more than 90% of the Company’s secured lenders (the “Investor Group”). Implementing the Financial Restructuring will accelerate Avaya’s ongoing business transformation, significantly enhance its ability to invest in its innovative cloud-based communications portfolio and position the Company for long-term success.

Stellus Capital Management, LLC (“Stellus”), a leader in middle market direct lending, announced today that its affiliates provided senior debt financing and an equity co-investment in support of Bansk Group’s (“Bansk”) acquisition of Red’s All Natural (“Red’s), a rapidly growing brand of clean-label frozen burritos and breakfast sandwiches in the U.S.

Winston & Strawn is representing ROC Energy Acquisition Corp., a publicly traded special purpose acquisition company, in connection with the announced business combination with Drilling Tools International Holdings, Inc. (“DTI”), a leading oilfield services company that rents downhole drilling tools used in horizontal and directional drilling.

CIT Commercial Services, a wholly-owned subsidiary of First Citizens Bank, today announced that it has closed a non-recourse factoring arrangement and $8 million senior secured facility for a Los Angeles-based company that sells men's and boys' clothing to retailers.

Tuesday Morning, the discount home goods retailer, filed for Chapter 11 bankruptcy protection Tuesday, its second bankruptcy in three years. It’s the latest example of the retail apocalypse, which is starting to creep back. Tuesday Morning’s previous bankruptcy came during the initial months of the Covid-19 pandemic. The chain said Tuesday it must restructure its “exceedingly burdensome debt.” It has secured $51 million in financing to keep operations running.

Westrock Coffee Company, a leading integrated coffee, tea, flavors, extracts, and ingredients solutions providertoday announced the closing of an amendment to the Company’s existing $350 million credit agreement that established a new class of incremental term loan commitments in the form of a senior secured delayed draw term loan credit facility (the “DDTL Facility” and any term loans under such DDTL Facility, the “Delayed Draw Term Loans”) in the aggregate principal amount of $50 million.

Supernus Pharmaceuticals, Inc. (Nasdaq: SUPN), a biopharmaceutical company focused on developing and commercializing products for the treatment of central nervous system (CNS) diseases, today announced it entered into a credit line agreement (the “Credit Line”) with UBS Bank USA (“UBS”) providing the Company an uncommitted demand secured line of credit of up to $150 million, which can be drawn at any time.

Mitsubishi HC Capital Inc. (TSE, NSE: 8593, Representative Director, President & CEO: Takahiro Yanai), announces that it will integrate three group companies in the United States (the “Integration”): Mitsubishi HC Capital America, Inc., Mitsubishi HC Capital (U.S.A.) Inc., and ENGS Commercial Finance Co. on April 1, 2023. Mitsubishi HC Capital America will be the surviving legal entity and will retain its existing name. In addition, Mitsubishi HC Capital Canada, Inc. will remain a subsidiary of Mitsubishi HC Capital America.

Gold Royalty Corp. ("Gold Royalty" or the "Company") (NYSE American: GROY) is pleased to announce an amended and restated credit agreement with the Bank of Montreal and the National Bank of Canada to expand its existing secured revolving credit facility by US$10 million to US$35 million. The expanded credit facility consists of a US$20 million secured revolving credit facility (the "Facility"), with an accordion feature providing for an additional US$15 million of availability (the "Accordion") subject to certain additional conditions.

H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with $54 billion of equity capital under management, is pleased to announce that its portfolio company, Concord USA, LLC (“Concord”), has acquired Authentic Digital (“Authentic”), which represents Concord’s third add-on acquisition over the last year. Concord is a leading technology consulting and digital transformation firm focused on digital and product experience, data management and analytics, and cloud engineering and modernization.

Norton Rose Fulbright announced today the reelection of Jeff Cody as US Managing Partner for a second four-year term, effective January 1, 2024. Jeff will continue to lead the law firm’s US management team as well as oversee US operations and strategy. He will also serve as Chair of its US Management Committee and US Partnership Committee.

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 continued growth of Spectrum Science (“Spectrum”) by private equity sponsor Knox Lane. Based in Washington D.C., Spectrum is an independent, integrated marketing, communications and media firm focused on the pharmaceutical, biotech and broader life science industries.

Justice Gap Solutions, Inc. dba Justice For Me (“JFM” or “the Company”), the first to market legal financial technology platform that removes the financial barriers that prevent clients and attorneys from working together, today announced that the Company has closed a $10 million credit facility with New York based Crescendo Asset Management, LLC (“CAM”).

The law firm of Moritt Hock & Hamroff has announced that Brian C. Daughney has joined the firm as a Partner in the Corporate, M&A and Securities Practice Group, resident in the Garden City office.

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and over $6 billion in assets, today announced that it has provided $5.3 million in lending to support the transition of ownership of Formaggio Kitchen, a regional chain of gourmet food stores specializing in cheese, to longtime employee Julia Hallman. After working for Formaggio Kitchen for 15 years as a senior buyer and general manager, Hallman successfully purchased the franchise in January 2023.

EagleBank, one of the largest community banks in the Washington, D.C. area, today announced it has provided $25,000,000 in construction financing to The Community Builders (TCB) and Dantes Partners for a 142-unit “100% affordable” multifamily project located at 610 Park Road, NW, Washington, DC – part of the larger Park Morton and Bruce Monroe redevelopment plan to transform a 174-unit public housing property into a mixed-income community of nearly 500 units.

The Lion Electric Company (NYSE: LEV) (TSX: LEV) ("Lion" or the "Company"), a leading manufacturer of all-electric medium- and heavy-duty vehicles, today announced that the Company has entered into an agreement with Mitsubishi HC Capital Canada, a subsidiary of Mitsubishi HC Capital America, and its related company, ENGS Commercial Finance Co, to provide financing solutions to Lion school bus and truck customers in the United States and Canada through LionCapital Solutions' vehicle financing program.

Casella Waste Systems, Inc. (Nasdaq: CWST), a regional solid waste, recycling, and resource management services company, today announced an amendment to its existing $650 million credit facility that links borrowing costs to progress in achieving certain annual sustainability goals.

Potbelly Corporation (NASDAQ: PBPB) (“Potbelly” or the “Company”), the iconic neighborhood sandwich shop, today announced it closed on a new $25 million senior secured term loan (the “Facility”) that matures on February 7, 2028, led by Sagard.

Altisource Portfolio Solutions S.A. (“Altisource” or the “Company”) (NASDAQ: ASPS), a leading provider and marketplace for the real estate and mortgage industries, today announced that it executed an amendment to the Company’s term loans on February 9, 2023 (the “Term Loan Amendment") which the parties anticipate will close on February 14, 2023. The Term Loan Amendment, among other things, extends the maturity date to April 2025 with an option to extend to April 2026, subject to certain prepayment and other terms and conditions.