TSL Express Daily Articles & News

StroudwaterGCL has completed $58 million in financing for Towner County Medical Center in Cando, North Dakota. The loan package, guaranteed by the U.S. Department of Agriculture (USDA), will go towards constructing a 76,000-square-foot critical access hospital and nursing home. The project will consolidate the current Towner County Medical Center and the Towner County Living Center, currently located across town from each other, significantly improving patient care and bringing critical healthcare access to rural communities throughout the region.

Parker, Hudson, Rainer & Dobbs LLP is pleased to announce commercial finance attorney Sarah E. Proctor and litigation attorney Justin P. Gunter have been admitted to the partnership as of January 1, 2023. Sarah works with healthcare lenders, banks, other financial institutions, and companies to complete a wide variety of secured lending transactions, including lender and borrower side representations in syndicated and bilateral credit facilities, first lien and second lien credit facilities, cash flow and asset-based loans, and mezzanine financing transactions. Justin represents clients in a wide range of complex litigation matters including securities litigation, antitrust litigation, insurance coverage litigation, and arbitration proceedings.

CytoSorbents Corporation (NASDAQ: CTSO), a leader in the treatment of life-threatening conditions in the intensive care unit and cardiac surgery using blood purification via its proprietary polymer adsorption technology, announced that it has received $5 million in non-dilutive debt financing under the terms of the Fourth Amendment to its Amended and Restated Loan and Security Agreement with Bridge Bank, which provided for a term loan commitment of up to $15 million in aggregate, available for drawdown in tranches of $5 million each at the discretion of CytoSorbents and subject to certain financial requirements.

Think an economic downturn is on its way? According to results released Tuesday from Provident Bank‘s 2023 Economic Outlook Survey, 67% of small to medium-sized business owners agree with you, thinking a recession is likely. The survey polled 1,000 small to medium-sized business owners and executives and explored predictions for 2023’s economic outlook in addition to measuring respondents’ thoughts on the likelihood of a looming recession and the effects inflation and rising interest rates had on their organizations in 2022.

GoldenTree Loan Management II (“GLM II”) and its affiliated investment manager GoldenTree Asset Management LP (along with other affiliated investment managers “GoldenTree”), announced the closing of a $487 million collateralized loan obligation (“CLO”) to be managed by GLM II. With the closing of this CLO, GoldenTree Loan Management US CLO 16 (“GLM US CLO 16”), GoldenTree has issued 21 CLOs totaling over $12 billion under its GLM CLO strategy.

Akulaku ("the Company"), a leading banking and digital finance platform in Southeast Asia, today announced a $200 million investment from Japanese megabank Mitsubishi UFJ Financial Group (MUFG). The investment provides additional support for Akulaku's projected growth as it advances towards its mission of providing banking services across Southeast Asia with an emphasis on reaching underserved customers and markets.

XS Financial Inc. ("XS Financial", "XSF" or the "Company") (CSE:XSF)(OTCQB:XSHLF), a specialty finance company providing CAPEX and equipment financing solutions to cannabis companies in the United States, announced today that it has entered into an upsized $39 million line of credit ("Credit Facility") with Needham Bank increasing its commitment from $20 million to $35 million and remaining as the administrative agent. The remaining $4 million is with an FDIC-insured bank participating in the Credit Facility. All figures are in US Dollars.

-VICI Properties Inc. (NYSE: VICI) (“VICI Properties” or “VICI”), an experiential real estate investment trust, announced today that VICI has agreed to provide up to $350 million in mezzanine loan financing to a partnership between Fontainebleau Development, LLC (“Fontainebleau Development”), a builder, owner, and operator of luxury hospitality, commercial and retail properties, and Koch Real Estate Investments, the real estate investment arm of Koch Industries, to complete the construction of Fontainebleau Las Vegas, a 67-story hotel, gaming, meeting, and entertainment destination coming to the north end of the Las Vegas Strip.

The Bank of Nova Scotia is the Administrative Agent for the Revolver, and The Bank of Nova Scotia, BMO Capital Markets, and National Bank Financial Inc. are the Joint Bookrunners. The Revolver syndicate also includes The Canadian Imperial Bank of Commerce; Bank of America, Canada Branch; Wells Fargo Bank, N.A., Canadian Branch; The Toronto Dominion Bank; HSBC Bank Canada; MUFG Bank Ltd., Canada Branch; Export Development Canada and ICICI Bank Canada. For the UK Facility, HSBC UK acts as Administrative Agent and HSBC UK and the Bank of America, Canada Branch are the two co-lenders and Mandated Lead Arrangers.

Tikehau Capital (Paris:TKO) today announces that it has successfully completed an inaugural Collateralized Fund Obligation (CFO) for an amount of $300m. The CFO’s assets consist of interests in private debt funds that were mainly held on Tikehau Capital’s balance sheet. They notably include exposure to the firm’s flagship Direct Lending strategy and to its innovative Private Debt Secondaries strategy.

National Funding, one of the largest U.S. specialty finance companies serving small- and medium-sized businesses, is pleased to announce that the San Diego Business Journal recognized CEO and Founder David Gilbert in the finance section of its annual edition of the SD 500 - The Most Influential People in San Diego.

Moritt Hock & Hamroff has announced that Vincent Balardi, Brian Boland, Michael Calcagni, Jacquelyn Moran, Christine Price and Kelly Schneid have been elevated to Partner, and that Lauren Bernstein, Alex Litt, Caitlyn Ryan and Jodi Zimmerman have been elevated to Counsel, effective January 1, 2023. ​

Primergy Solar, LLC (‘Primergy’), a leading developer, owner and operator of utility-scale solar, distributed solar and energy storage, announced the closing with Rabobank of a $75 million revolving credit facility with the option to increase up to $200 million. The facility will be used to support a growing development pipeline of solar and solar+storage projects across the U.S.

Santander Holdings USA, Inc. (“Santander” and “Santander US”) today announced that, effective March 2023, Bruce Jackson will assume the role of head of the Santander US Auto business and CEO of Santander Consumer USA Inc. (“Santander Consumer”), reporting to Santander US CEO, Tim Wennes. Jackson succeeds Mahesh Aditya who is taking on the role of Banco Santander’s Group Chief Risk officer in Madrid, subject to customary regulatory approvals.

SMBC Nikko Securities Americas, a New York-based member of SMBC Group, has appointed Ted Langworthy as executive director and head of the equity finance team. Langworthy has a vast amount of experience in securities lending and equity financing spanning two decades.

Noble Corporation plc ("Noble") (CSE: NOBLE, NYSE: NE) today announced that it has closed a new $350 million secured term loan with a syndicate of banks. The new loan has a three-year maturity and an initial interest rate of Term SOFR plus 3.50%, with margin increases beginning in year two.

Guess?, Inc. (NYSE:GES) today announced that it has expanded its access to capital in North America. The Company has entered into a $150 million senior secured asset-based revolving credit facility with a term of five years. This facility amends and extends its existing $120 million North American credit facility. The amended facility has an option to further expand its total amount by up to $150 million, subject to certain conditions.

Stifel Financial is deepening its investment in healthcare with the purchase of Torreya Partners. The investment banking company announced the acquisition of Torreya, a merger and acquisition and private capital advisory firm in the life sciences sector, in a news release Thursday (Dec. 22). Founded in 2007, Torreya specializes in life sciences, including biotechnology and pharmaceuticals.

Brightwood Capital Advisors, LLC, a private credit firm, today announced it has priced Brightwood Capital MM CLO 2020-1, Ltd. Reset, a $426 million collateralized loan obligation. This CLO represents the fourth CLO issued by the firm since 2019. The vehicle is backed by loans the firm has originated for Brightwood Capital Fund IV and is intended to provide that fund with non-recourse financing.

In the spirit of giving and sharing, Siena Lending Group has started off the year by donating to food pantries and soup kitchens across the country on behalf of its employees and clients. Siena Lending Group is proud that this financial support will provide over 300,000 meals to individuals and families who are food insecure.