TSL Express Daily Articles & News

SLR Digital Finance is pleased to announce the funding of a $5MM credit facility for Ignite Media Group, a performance marketing company that offers digital marketing strategy, multi-channel targeted advertising, compliance management, analytics, and campaign optimization to support customer acquisition efforts for Fortune 500 brands. Ignite Media Group was recently spun out of Amobee, an international advertising technology company that sold to Tremor International in September, 2022.

Crown Capital Partners Inc. ("Crown" or the "Corporation") (TSX: CRWN), a capital partner to entrepreneurs and growth businesses, today announced that it has entered an agreement for a new senior secured corporate credit facility of up to $43.5 million ("Credit Facility") with Canadian Western Bank. This Credit Facility replaces Crown's previous $23.5 million corporate credit facility.

Culain Capital Funding LLC, a specialty finance firm focusing on responsive and efficient funding solutions for small and medium sized business in the United States announces the closing of a $3,000,000 Accounts Receivable Factoring Facility along with a $1,500,000 acquisition term note for a manufacturing company specializing in custom steel bar and bolting products

nFusion Capital recently announced their 2022 year-end results, which included building 156 new client relationships, purchasing $488 million in receivables, and offering 193 lines of credit totaling over $83 million. In addition, the team built an industry-leading 24/7/365 funding program to make funding available anytime, including on federal holidays.

First Citizens Bank today announced that its Healthcare Finance group, part of the CIT division, provided $31.2 million to Montecito Medical Real Estate to finance the acquisition of a cancer treatment center in Columbia, South Carolina.

MetLife Investment Management (MIM), the institutional asset management business of MetLife, Inc. (NYSE: MET), announced that it has entered into a definitive agreement to acquire Raven Capital Management, a privately-owned alternative investment firm. As of December 31, 2022, Raven’s assets under management totaled $2.1 billion. The acquisition is subject to customary closing conditions.

“We are pleased to reach this commitment milestone in our third year of operations as we continue to solidify and expand our standing as a leading diversified specialty finance firm serving the middle market,” said David Wisen, CEO and Co-Founder of Wingspire. “In addition to continuing to offer flexible capital during a challenging year, we also acquired Liberty Commercial Finance, expanding our product offering. Rebranded as Wingspire Equipment Finance, this vertical will accelerate Wingspire’s growth via a dedicated equipment finance direct originations platform.”

Crescent Capital Group LP, a leading alternative credit investment firm, announced today that its European Specialty Lending strategy has provided financing to support Equistone Partners Europe’s (“Equistone”) acquisition of a majority stake in BUKO Infrasupport and BUKO Waakt (“BUKO”), leading providers of outsourced traffic and safety management solutions in the Netherlands.

Solifi™, a global fintech software partner for secured finance, announced the release of its latest version of Solifi Asset-Based Lending (ABL) software, which includes several new and enhanced features designed to improve both the lender and borrower experiences through greater risk management controls, efficiency gains with loan syndication data and automated workflows, and self-service white-label capabilities to brand the ABL borrower portal.

Promenade was seeking growth financing to capitalize on new market opportunities in underserved verticals. SG structured a non-dilutive growth facility that provided the Company with sufficient capital to add key product development and sales personnel to execute on its plans.

Hecate Grid, a joint venture between Hecate Energy and Infrared Capital Partners ("IRCP"), today announced the recent close of a six-year $98.9 million credit facility package to recapitalize its operating assets and fund the construction of a portfolio of standalone battery storage assets in Southern California. The debt facility package, which includes a $79.5 million term loan and $19.4 million Letter of Credit ("LC") facility, is collateralized by Hecate Grid's energy storage projects without a guarantee or other credit support.

Brad Stewart is based in Boston and brings over 20 years of debt financing experience to the team. He was previously a Partner at debt advisory firm Capital Solutions Group and, prior to that, was in the debt capital markets group at Audax Private Equity. Brad brings a track record of success in middle market financings having placed debt both as an advisor and as a private equity sponsor.

Scott Welkis has joined Kramer Levin’s New York office as a partner in the Banking and Finance group of the Corporate department and chair of the firm’s Special Situations practice. Mr. Welkis has extensive experience handling a wide variety of debt financing transactions. He advises credit funds, private equity funds, hedge funds and other alternative capital sources, as well as banks and other financial institutions.

Struggling retailer Bed Bath & Beyond said Monday it plans to sell shares of the company in hopes of generating enough cash to avoid filing for bankruptcy. Bed Bath & Beyond is aiming to raise $1 billion from the offering and use the proceeds to pay down some of its debt and make interest payments it missed on other loans. Mired in a sales slump, the home goods chain is set to close 87 more stores in coming weeks after shutting 150 locations last year.

Solar Integrated Roofing Corp. (OTC:SIRC), an integrated, single-source solutions provider of solar power, roofing and EV charging systems, today announced it has secured a new $10 million revolving credit facility with a top four national bank to finance the Company’s working capital requirements, subject to customary closing conditions.

On January 31, 2023, USD Partners LP (the “Partnership”) and USD Terminals Canada ULC, an indirect, wholly-owned subsidiary of the Partnership (together with the Partnership, the “Borrowers”), and the subsidiary guarantors party thereto, entered into an amendment (the “Amendment”) to the Borrowers’ existing revolving credit agreement, dated as of November 2, 2018 (the “Credit Agreement”).

D.A. Davidson & Co. is pleased to announce that Clinton Miyazono has joined as a Managing Director in the Debt Advisory Group in the Chicago office, where he will be responsible for expanding the group’s Midwest footprint and national coverage initiatives.

Gateway Trade Funding is pleased to announce they have partnered with another lender to complete a facility consisting of stretch finance, factoring, and purchase order financing for a tech company. A technology business experiencing tremendous growth had just won a new large contract from a large retailer. The private equity firm they were working with recommended they reach out to Gateway Trade Funding because of the retailer's long payment cycle. They suggested that Gateway's financing options could be a good source of short-term financing to help them fulfill the contract and take on others.

Blank Rome LLP is pleased to announce that Robert Handler has joined the firm’s Corporate, M&A, and Securities practice group as senior counsel in the Los Angeles office. A corporate transactions pro with a focus on middle-market private businesses, Rob joins Blank Rome from Glaser Weil where he served as a partner in the Corporate and Real Estate groups.

Schulte Roth & Zabel advised Portfolio Advisors, a global middle-market private asset specialist with more than $38 billion in assets under management, as special regulatory counsel in a definitive agreement to combine with FS Investments, a pioneer in the democratization of alternative investments with more than $35 billion in assets under management.