TSL Express Daily Articles & News

Aypa Power ("Aypa"), a Blackstone portfolio company that develops, owns, and operates utility-scale energy storage and hybrid renewable energy projects, has closed $320 million of letter of credit and revolving credit facilities led by Banco Santander, Investec, and Nomura as Coordinating Lead Arrangers and Joint Bookrunners. The facility will support the development and commercialization of Aypa's 15+ GW project pipeline across North America.

Alloy Capital is pleased to announce that it has entered into a US$100 million senior secured credit facility (the "Facility") with Victory Park Capital ("VPC "). The Facility will enable Alloy Capital to finance the origination of structured finance loans in Mexico. Alloy Capital financing solutions target the largely untapped need for credit by companies in Mexico, offering tailored loans with flexibility in terms and repayment schedules.

FI Group Inc. (“NFI” or the “Company”), a leading independent bus and coach manufacturer and a leader in electric mass mobility solutions, today announced that it has finalized agreements for the previously announced financial support package of approximately $1871 million with the Manitoba Development Corporation, an entity that provides financial services and financial instruments on behalf of the Province of Manitoba, and Export Development Canada (“EDC”), Canada’s export credit agency.

Republic First Bancorp, Inc. (NASDAQ: FRBK) (the “Company”), the parent company of Republic First Bank d/b/a Republic Bank (the "Bank"), today has announced the appointment of Michael LaPlante as Senior Vice President, Chief Accounting Officer, effective January 17, 2023. Mr. LaPlante will be an integral leader on the finance team overseeing the Company's accounting functions, and will report directly to Chief Financial Officer, Michael Harrington.

Greystone announced Rich Martinez has been promoted to Head of Production, Agency Lending, after joining the firm in 2022 as Executive Managing Director, Multifamily Sales & Production. In this new role, effective immediately, Mr. Martinez will lead all Agency loan origination efforts, particularly market-rate multifamily for Fannie Mae and Freddie Mac, for which Greystone is a top lender.

Boxed, Inc. (NYSE: BOXD, BOXD WS) (“Boxed” or the “Company”), the commerce technology company specializing as both an e-commerce retailer and e-commerce enabler, today announced it entered into a second lien secured term loan facility with a lender (the “Lender”) that provided $10 million of new funding to the Company at close.

Jeffrey Chapman is the firm’s new office managing partner in New York. He succeeds partner Noreen Kelly, who served in the role since 2015 and recently became chair of the firm’s nationally recognized Government Investigations & White Collar Litigation Department. In Chicago, Yuan-Ying Hsu succeeds Christina Egan, who was office managing partner since 2016. Brian Kahn is the new office managing partner in Charlotte.

The U.S. economy will progressively slow through the first half of 2023 and fears of a recession are still high, and still warranted. Inflation and interest rate increases intended to combat swiftly rising prices are behind the broad economic slowdown. But with the unemployment rate at a 53-year low and inflation trending lower, forecasts are turning at least a little less gloomy.

Stonebriar Commercial Finance (“Stonebriar”) today announced the promotion of Jon Dahlfors to the position of Director - Credit. Dahlfors will continue to report to Sr. Managing Director – Credit, Jeff C. McCoy. Following his graduation from the University of Kansas with a BS in accounting, Dahlfors began his career as an analyst at Guggenheim Partners in 2014.

Dechert LLP announced today that accomplished private equity lawyer Nick Marchica will join its New York office as a partner in the corporate group. Mr. Marchica's arrival continues Dechert's U.S. private equity and private credit expansion over the past year, following the additions of David Cosgrove in Charlotte; Nicole Macarchuk in San Francisco; William Robertson, Kevin Zaragoza and En-Min Chua in New York; and including 12 of the firm's 17 recently promoted partners.

SetPoint Medical, a clinical-stage healthcare company dedicated to patients with chronic autoimmune diseases, today announced a senior secured term loan facility of up to $65 million from Runway Growth Capital LLC (“Runway”), a leading provider of growth loans to both venture and non-venture backed companies. The loan is an expansion of an existing credit facility with Runway. The company recently announced an $80 million equity financing to advance its novel platform for the treatment of autoimmune disease.

LivAway Suites, a new economy extended stay concept boasting a developer-centric platform, has arranged $85 Million in debt financing through Keystone National Group for its first locations nationally. Following two years of market research and brand development planning, LivAway Suites has assembled numerous sites in top extended stay markets across the United States that will break ground in 2023.

InterNex Capital announces the funding of a dual $1.55 million term loan and revolving line of credit to a NY-based consulting firm. The firm launched its technology consulting services in 2021 and had explosive growth in 2022.

Weakening consumer and business spending, and improving supply chains, will support the Federal Reserve’s efforts to drive inflation lower this year and next toward its 2% target, according to the latest forecast of the American Bankers Association’s Economic Advisory Committee. The committee, comprised of 15 chief economists from some of North America’s largest banks, also expects stalling economic growth in 2023 followed by a modest recovery in 2024.

WebBank is pleased to announce the appointment of Kelsey Hardy as the Senior Vice President – Business Development. Kelsey joined WebBank in December 2015, bringing more than ten years of business development, contract structuring, negotiating and oversight experience. During her tenure at the Bank, Kelsey has held various positions in Compliance, Due Diligence & Implementation and most recently, as Vice President - Business Development.

Audax Private Debt (“Audax”), a leading provider of financing solutions for middle market private equity sponsors, announced today that it successfully closed Audax Direct Lending Solutions Fund II, LP (“DLS Fund II”) with $3.0 billion of capital commitments. The new fund, which reached its hard cap, exceeded its fundraising target of $2.25 billion and, including targeted leverage, provides New York-based Audax Private Debt with $4.5 billion of total investable capital.

Ares Capital Corporation (“Ares Capital”) (NASDAQ: ARCC) announced today that Jana Markowicz was appointed as its Chief Operating Officer (COO). In this newly created role, Ms. Markowicz will also serve as COO of Ares Management’s (“Ares”) U.S. Direct Lending strategy where she will collaborate with the U.S. Direct Lending Co-Heads and Investment Committee members in the management of the team and strategy.

Greater Commercial Lending (GCL), which provides government-guaranteed loans to businesses and organizations in rural communities, has completed $80 million in financing for Lane Regional Medical Center in Zachary, Louisiana. The loan package, guaranteed by the U.S. Department of Agriculture (USDA), will go towards renovating and expanding the existing hospital facility.

Commercial Funding Inc., a national provider of accounts receivable financing, including invoice factoring, and asset based lending, has closed a $3 million factoring facility for a rapidly growing provider of security services.

Main Street Capital Corporation (NYSE: MAIN) ("Main Street") is pleased to announce the expansion of total commitments under its revolving credit facility (the "Credit Facility") from $920.0 million to $980.0 million. The $60.0 million net increase in total commitments was the result of the addition of a new lender relationship.