TSL Express Daily Articles & News

Wilmington Trust, N.A. ("Wilmington Trust"), a leader in wealth management and corporate and institutional services and a wholly-owned subsidiary of M&T Bank Corporation ("M&T") (NYSE: MTB), today announced an agreement with Madison Dearborn Partners, LLC ("MDP"), a leading private equity firm based in Chicago, under which funds affiliated with MDP will acquire Wilmington Trust's Collective Investment Trust ("CIT") business.

Banc of California, Inc. (NYSE: BANC) (the “Company”), the holding company for Banc of California, N.A. (the “Bank”), today announced the promotions of several senior executives effective January 1, 2023. The Company also announced the retirement of Lynn Sullivan as the Company’s Executive Vice President and Chief Risk Officer, effective as of year-end, following a distinguished career in banking and exceptional service to the Bank. Ms. Sullivan will serve as a consultant to the Bank for a six-month transition period

Funds managed by Oaktree Capital Management, L.P. (“Oaktree”) provided the capital for a new $400 million Senior Secured Term Loan maturing December 15, 2028. J.P. Morgan Chase Bank is Agent for a new $60 million Revolving Credit Facility maturing on December 15, 2027.

ASK Chemicals, a leading global supplier of high-performance industrial resins and materials, today announced that it has signed definitive agreements to refinance the company's existing senior secured credit facilities; consisting of a €190m senior secured term loan facility and a €25m senior secured multi-currency revolving credit facility. Goldman Sachs Bank Europe SE acted as sole mandated lead arranger and bookrunner on the financing.

U.S. law firm Paul Hastings on Monday said it had added another partner from rival Weil, Gotshal & Manges, bringing on London-based Patrick Bright to strengthen its global finance practice.

Configure Partners, LLC (“Configure”), a leading middle-market investment bank, is pleased to announce its role as exclusive financing advisor to Hidden Harbor Capital Partners (“Hidden Harbor”) in securing committed debt capital to support Hidden Harbor’s acquisition of Inspire Aesthetics, LLC (“Inspire Aesthetics”), a leading network of plastic surgery and aesthetics centers in South Florida.

Evelo Biosciences, Inc. (Nasdaq:EVLO), a clinical stage biotechnology company developing a novel platform of orally delivered medicines acting on the small intestinal axis, SINTAX, today announced it has entered into a senior secured loan agreement with Horizon Technology Finance Corporation (Horizon) (Nasdaq: HRZN), a leading specialty finance company that provides capital in the form of secured loans to venture capital backed companies in the technology, life science, healthcare information and services and sustainability industries.

ele2 AB said Monday it has signed a 700 million euro ($741.1 million) sustainability-linked revolving credit facility, refinancing its existing EUR760 million facility dated Jan. 12, 2016. The Sweden-based telecom company said this is its first facility that is linked to sustainability targets, while the margin adjustments are conditional upon the achievement of targets within climate and gender equality.

Synovus Financial Corp. (NYSE: SNV) today announced the hiring of Michael Colasso as the company’s new enterprise and operational risk executive director. Colasso reports to Executive Vice President and Chief Risk Officer Shellie Creson and is based in Atlanta, Georgia.

Avaya Holdings Corp (NYSE: AVYA) will likely file for chapter 11 bankruptcy. Earlier in the week, Avaya said it is considering restructuring proposals from creditor groups. The technology company, Bloomberg reported, has been trying to clear problems around its accounting standards.

Wastequip, the leading North American manufacturer of waste handling equipment, today announced it has successfully completed an amendment and extension of its senior secured revolving credit facility. As a result of the transaction, Wastequip's revolving lenders have agreed to extend the maturity of commitments totaling $45 million by 18 months to September 20, 2024.

Ero Copper Corp. (TSX: ERO, NYSE: ERO) ("Ero" or the “Company”) is pleased to announce that it has amended its existing senior secured revolving credit facility (the "Amended Credit Facility") to increase the aggregate commitments from $75 million to $150 million and extend the maturity from March 2025 to December 2026.

Huhtamäki Oyj has signed a confirmation to extend the maturity of a EUR 400 million syndicated revolving credit facility loan agreement for a further period of one year in accordance with the extension option of the loan agreement. The new termination date is January 7, 2026. The credit facility will be used for general corporate purposes of the Group.

CE Brands Inc. (TSXV: CEBI; CEBI.WT) (“CE Brands”, “we”, “our”, or the “Company”), a data-driven consumer-electronics company, today announced that it has entered into a binding financing arrangement with Vesta Wealth Partners Ltd. (“Vesta”), pursuant to which Vesta will provide a secured revolving credit facility of up to CA$12,000,000 (or US dollar equivalent) to the Company (the “Credit Facility”) to be used for the working capital needs of the Company.

SLR Digital Finance LLC (“SLR Digital Finance”) announces the funding of a $5 million credit facility for Audigent, the leading data activation, curation and identity platform for the media industry. Audigent’s next-generation curated marketplaces – SmartPMPs™, ContextualPMPs™, and CognitivePMPs™ – are revolutionizing how data and identity are actioned across programmatic media channels.

Wells Fargo & Co. launched a new segment in the region to serve businesses in the $10 million to $75 million range. The San Francisco-based financial services company announced the launch of its emerging middle market segment within its Metro NY/NJ commercial team Dec. 15, along with leaders for each of the neighboring states.

Private equity will have to get the check book out in the coming months if the industry wants to return to its record pace of deal making. That’s because banks stuck with billions of dollars of risky corporate loans, a hangover from deals underwritten in a lower-rate environment, are unlikely to back sizable new transactions until well into 2023, dealmakers say.

Mike Colloton, Vice President II – Asset-Based Lending at First Business Specialty Finance, LLC, a subsidiary of First Business Bank, announces a recently closed and funded $9.2 million revolving line of credit, equipment term loan, and structured overadvance for the acquisition of a manufacturer of home building supplies.

MidCap Financial (“MidCap”), a leading commercial finance company focused on middle market transactions, announced this week it has provided a $10 million revolving line of credit and $5 million senior secured term loan to Mervin Manufacturing, Inc. (“Mervin”).

DSD Renewables (DSD) has raised $155 million in debt financing for the first commercial and industrial (C&I) solar asset-backed securitization (ABS) with a significant concentration of community solar assets. The transaction, which is DSD’s first issuance of asset-backed securities, was structured and underwritten by Credit Suisse Securities (USA) LLC.