TSL Express Daily Articles & News

Caesars Entertainment, Inc. (NASDAQ: CZR) (the "Company" or "Caesars") today announced the pricing of its previously announced new senior secured term loan facility (the "New Term B Loan") to be incurred as an incremental term loan facility under the credit agreement that governs its existing senior secured credit facilities. The aggregate principal amount of the New Term B Loan was increased to $2.5 billion from the previously announced $1.75 billion.

Downing Renewables & Infrastructure Trust (DORE) has increased its revolving credit facility (RCF) with Santander from £25m to £40m. The additional capital available will facilitate further investment in the company‘s pipeline of acquisition opportunities.

Daktronics, Inc. (NASDAQ-DAKT) today announced it has entered into an amendment to its credit agreement with its current lender, U. S. Bank National Association, to extend the maturity of $10 million of its $45 million credit facility to May 1, 2023. The remaining $35 million of the credit facility matures on April 29, 2025.

Heritage Power on Jan. 24 filed for Chapter 11 in bankruptcy court in Houston, the company announced. The company said it entered into a restructuring support agreement (RSA) with indirect parent GenOn Holdings and certain consenting lenders that “would significantly reduce Heritage’s debt and establish a more sustainable capital structure pursuant to a consensual Chapter 11 plan that GenOn and the lenders have agreed to support.” Haynes and Boone is acting as the company’s legal adviser. Alvarez & Marsal is acting as restructuring adviser.

Crescent Energy Company (NYSE: CRGY) (“we” or “our”) announced today that, subject to market conditions, its indirect subsidiary Crescent Energy Finance LLC (the “Issuer”) intends to offer for sale in a private placement pursuant to Rule 144A and Regulation S under the Securities Act of 1933, as amended (the “Securities Act”), to eligible purchasers $400 million aggregate principal amount of Senior Notes due 2028 (the “Notes”).

Fashion apparel retailer Express has completed its previously announced transaction with turnaround firm WHP Global. With the transaction, WHP Global has invested $260 million in the firm, acquiring 7.4% of the firm for $25 million and 60% of an intellectual property joint venture for $235 million, the companies said in a Wednesday (Jan. 25) press release.

Barclays announces the appointments of Douglas Melsheimer as a Managing Director in Technology Investment Banking, and Vladimir Ganchev as a Managing Director in Technology M&A. Mr. Melsheimer will focus on software, with emphasis on Human Capital Management (HCM) Software and Customer Experience (CX), and will report to Marco Valla, Global Head of Technology, Media and Telecom (TMT) Banking at Barclays.

OnPoint Warranty Solutions, LLC (“OnPoint”), a rapidly growing insuretech, mobile solutions and warranty services company, today announced that it has completed a strategic transaction with a private equity vehicle managed by Waterfall Asset Management, LLC (“Waterfall”) and Atalaya Capital Management (“Atalaya”).

- Comerica Incorporated (NYSE: CMA) announced today that, effective Jan. 27, 2023, it is promoting three executive leaders to newly established positions: Peter Sefzik, Executive Vice President (EVP), Executive Director, Commercial Bank, will assume the role of Senior EVP, Chief Banking Officer; Megan Crespi, EVP, Chief Enterprise Technology and Operations Services Officer, will assume the role of Senior EVP, Chief Operating Officer; and Megan Burkhart, EVP, Chief Human Resources Officer, will assume the role of Senior EVP, Chief Administrative Officer.

Runway Growth Capital LLC ("Runway"), a leading provider of growth loans to both venture and non-venture-backed companies seeking an alternative to raising equity, today announced promotions for several members of its investment team. Edward Chen becomes Managing Director, and Yifan Lai and Avisha Khubani advance to Principal. ​

APTURA Group is a 100% employee-owned team of professionals committed to providing holistic solutions to the construction process, from writing door and hardware specifications until the keys are handed over.

Capstone Partners’ Financial Advisory Services (FAS) group is pleased to announce that Matthew Hart has joined the practice as a Managing Director focused on Special Situations Investment Banking. He has more than twenty years of experience advising, financing, and investing in companies in transition, across most major industries.

Loeb continues its long history of supporting companies in transitional financial states with $6.8 million in machinery and equipment loans in Q4 of 2022. These loans will help the four businesses continue to operate smoothly by extracting working capital from their existing M&E.

Abacus Finance Group, LLC – a leading provider of cash flow-based, classic senior debt for sponsor-led buyouts of lower middle-market companies – today announced that it served as Senior Secured Credit Facilities Administrative Agent and Lead Arranger for $50 million in senior secured credit facilities to support the recapitalization of SV Labs, a portfolio company of San Francisco Equity Partners.

Franchise Group, Inc. (NASDAQ: FRG) (“Franchise Group,” “FRG” or the “Company”) today announced that it has launched a $200 million non-fungible add-on to its existing first lien term loan due in March 2026. Proceeds from the transaction are expected to be used to pay down existing debt under the Company’s ABL credit facility. JPMorgan Chase Bank, N.A. is acting as lead arranger of the financing.

AlixPartners has hired Justin MacFarlane as a partner and managing director in its global retail practice. ​ Based in New York, MacFarlane has nearly 30 years of leadership experience in consulting and as a C-suite executive at large retailers. He has expertise transforming companies for growth, leading operational improvements, and driving digital transformation initiatives.

Schulte Roth & Zabel (SRZ) advised Starboard Value LP in their recently announced $500 million strategic investment in global asset management and disposition company Ritchie Bros. Auctioneers. The investment includes the purchase of $485 million in newly issuable senior preferred shares and $15 million in common shares by Starboard.

Trust, flexibility, and deep structuring creativity were showcased in Gibraltar Business Capital (GBC)’s latest financing transaction and partnership with specialty printer, Serigraph Inc. (“Serigraph”). Based in West Bend, WI, Serigraph has a nationwide footprint, delivering custom printing solutions for a wide variety of industries, including automotive, medical, consumer goods, QSR, and many more. Their core business is built on being flexible for the needs of their customers.

Amerisource Business Capital announced the closing and funding of a $1,000,000 working capital facility for a Texas-based electronics manufacturer. The company had been a former client of Amerisource for over 20 years before moving its revolver to a commercial bank.

DailyPay, a leading financial technology company, today announced it has secured $260 million of capital to fuel growth domestically, expand internationally and further invest in product innovation. The funding is divided between revolving credit facility capacity provided by Barclays and Angelo Gordon, and new term loan funding from SVB Capital and a fund managed by Neuberger Berman.