TSL Express Daily Articles & News

Winston & Strawn represented NexPoint Storage Partners, Inc., a self-storage platform affiliated with NexPoint Advisors, in the acquisition of 29 new, well-located, and high-quality self-storage properties developed by SAFStor. The acquisition brings NexPoint Storage to a total asset value of approximately $1.7 billion with 71 wholly owned and operating properties and one additional property expected to open in February 2023.

SLR Equipment Finance is pleased to announce Harold Amador has joined our company as a Vendor New Business Development Officer. In his role, Harold will help grow SLR Equipment Finance’s vendor platform through commercial strategy development. Harold was most recently with Toyota Industrial Equipment in Mexico City. Harold brings many years of account development, client relations and client focus to SLR Equipment Finance.

F.N.B. Corporation (NYSE: FNB) announced that it successfully completed its acquisition of Greenville, North Carolina-based UB Bancorp, including its wholly-owned banking subsidiary, Union Bank (Union). As a result of the acquisition of Union, FNB has nearly $44 billion in total assets, $29 billion in total loans and $35 billion in total deposits on a proforma basis.

Mercuria's North American operating entities ("Mercuria" or "the Company") are pleased to announce the successful closing of its US$ 3,400,000,000 multi-year senior secured borrowing base credit facility (the "Facility"). The Facility was over-subscribed, enabling Mercuria to increase the size by US$ 100,000,000. The joint and several borrowers are Mercuria Energy America LLC, Minerva Bunkering (USA) LLC, and Mercuria Commodities Canada Corporation (the "Borrowers").

Sallyport is delighted to confirm a combined $1,000,000 in financing for a Canadian importer of industrial pipes and flanges. The financing consists of $750,000 in accounts receivable funding and $250,000 purchase order finance, which will be utilized for ongoing working capital requirements, leaving the client free to increase their debtors and grow business in the region.

Assembled Brands is pleased to announce a new $1MM facility with innovative denim brand The Perfect Jean. The Perfect Jean mastered making incredibly comfortable and reasonably-priced men’s denim jeans with stretch and fabric that’s wearable all day, every day. These are not your regular jeans - the product’s versatility, quality, comfort and durability differentiate these pants from the rest.

-Applied UV, Inc. (NasdaqCM: AUVI) (“Applied UV” or the “Company”), a pathogen elimination technology company, announces today a $5 million secured revolving credit facility effective December 8, 2022. Borrowings under the revolving credit facility will be used for general corporate purposes and to advance Applied UV’s organic and strategic growth initiatives. The facility currently has no outstanding balance.

Struggling online fashion retailer Asos Plc and its lenders are discussing whether to hire a restructuring expert following the departure of its chief financial officer. A number of turnaround professionals held informal talks about a role, which would sit below executive level, but no decision has been made, according to people familiar with the matter.

Norwegian Cruise Line Holdings Ltd. (NYSE: NCLH) (the “Company”) today announced it has amended and extended the majority of its operating credit facility consisting of its senior secured revolving credit facility and senior secured term loan A facility (the “Operating Credit Facility”) on December 6, 2022

Edge Capital Lending, LLC (“Edge”) announced today six new hires to support its rapid portfolio growth. Edge recognized that in this increasingly uncertain economic climate, speed and certainty to close have become even more important to its private equity and other referral partners. This recent addition of six new hires will allow Edge to continue to meet the timing and flexibility needs of its borrowers and lead sources.

BofA Securities, Inc., RBC Capital Markets, Goldman Sachs Bank USA and Wells Fargo Securities, LLC, served as Joint Bookrunners. BofA Securities, Inc., RBC Capital Markets, Goldman Sachs Bank USA, Wells Fargo Securities, LLC, The Bank of Nova Scotia and Export Development Canada served as Joint Lead Arrangers. Royal Bank of Canada, Goldman Sachs Bank USA, Canadian Imperial Bank of Commerce, Export Development Canada, HSBC Bank Canada, MUFG Bank, Ltd., Canada Branch, The Bank of Nova Scotia, U.S. Bank National Association, Wells Fargo Bank N.A., Canadian Branch and Truist Bank served as Co-Syndication Agents. Bank of Montreal, Citizens Bank NA, Desjardins, The Toronto-Dominion Bank and Westpac Banking Corporation served as Co-Documentation Agents.

U.S. drugmaker Clovis Oncology Inc (CLVS.O) on Sunday filed for bankruptcy protection in Delaware, hit by a fall in sales of its cancer drug and challenges in raising additional capital. The company has also lined up a debtor-in-possession (DIP) financing facility of up to $75 million to provide it with necessary liquidity, subject to court approval, Clovis said in a press release on Monday.

Gamida Cell Ltd. (Nasdaq: GMDA), the global leader in the development of NAM-enabled cell therapies for patients with hematologic and solid cancers and other serious diseases, announced the closing of a senior secured convertible term loan of $25 million with certain funds managed by Highbridge Capital Management, LLC (collectively, “Highbridge”).

Eclipse Business Capital LLC (“EBC”) announced today that it has provided a $100 million senior secured revolving credit facility to BJ Energy Solutions. The credit facility is secured by accounts receivable and real estate. The transaction was used to refinance outstanding debt and to fund capital expenditures needed for the growth and expansion of next generation fleets.

Solifi™, a global fintech software partner for secured finance, announced the release of its latest version of Solifi Originations for European equipment and automotive finance lenders. The new features are designed to support UK contract-hire use cases, quote for more sophisticated variable rate products, and support for rent-to-own Mietkauf financing products in German markets.

Comvest Credit Partners (“Comvest”), a leading provider of flexible direct financing solutions to middle-market companies, is pleased to announce that it has acted as Joint Lead Arranger on a senior secured credit facility (the “Financing”) for Bradford Health Services (“Bradford,” or the “Company”), a Birmingham, Ala.-based provider of behavioral health services.

Gibraltar Industries, Inc. (Nasdaq: ROCK), a leading manufacturer and provider of products and services for the renewable energy, residential, agtech and infrastructure markets, announced that it has closed on a $400 million five-year revolving credit facility. KeyBanc Capital Markets Inc., Bank of America, N.A., M&T Bank and PNC Bank, National Association acted as Joint Lead Arrangers for the new facility, with Comerica Bank, TD Bank, N.A., and Wells Fargo, National Association serving as Co-Documentation Agents. Two additional lenders participated.

Bank of America has named Jim Morehead president of Bank of America Seattle. The company also announced that Alex Yang will become Seattle Market Executive, replacing Jeremey Williams who was recently promoted to Community Relations Manager (CRM) Executive.

Sentinel Capital Partners, a private equity firm that invests in midmarket companies, has closed its Sentinel Capital Partners VII LP at $4.3 billion and Sentinel Junior Capital II LP at $835 million. Kirkland & Ellis LLP and Credit Suisse Securities LLC supported and represented Sentinel with the funds.

Rosenthal & Rosenthal, Inc., the leading factoring, asset-based lending, purchase order financing, d2c and e-commerce inventory financing firm in the United States, today announced the completion of a six-figure trade receivables finance program for a manufacturing company that sells thermal products into the Asia-Pacific region.