TSL Express Daily Articles & News

TAB Bank is pleased to announce it has provided a commercial truck parts distributor in Texas with a $5 million asset-based credit facility. The new facility is extended through a multi-year agreement and will provide for the company’s ongoing working capital needs.

Sallyport is thrilled to announce a tailored finance package of $2,500,000 for a family-owned manufacturer of powdered coffees, cappuccino mixes and other specialty drinks. The funding comprises accounts receivable and inventory finance and a cash flow loan which will enable the client to cover their operational expenses as they expand the business both at home and abroad.

Oppenheimer & Co. Inc., UBS Securities LLC, B. Riley Securities, Inc. and Ladenburg Thalmann & Co. Inc. are acting as joint book-running managers of this offering. Compass Point Research & Trading, LLC, Janney Montgomery Scott LLC and Hovde Group, LLC are acting as co-managers of this offering.

Focus Financial Partners Inc. (NASDAQ:FOCS) ("Focus"), a leading partnership of independent, fiduciary wealth management firms, announced today that it has closed on its credit refinance and term loan raise. Focus raised a new $1,760 million First Lien Term Loan B ("Term Loan B") and a new $240 million First Lien Term Loan A ("Term Loan A"), which is available on a 9 month delayed draw basis.

PRA Group, Inc. (Nasdaq: PRAA), a global leader in acquiring and collecting nonperforming loans, announced today that on November 23, 2022, it completed the refinancing of its $750 million European revolving credit facility.

Blue Bird Corporation (NASDAQ: BLBD), the leader in electric and cleaner-emission school buses, announced that it entered into a sixth amendment to its credit facility, dated as of December 12, 2016, extending the maturity date through December 31, 2024.

The Interface Financial Group (“IFG”) announced the funding of a $37,000,000 digital supply chain finance for a group of suppliers in multiple countries. The digital early payments program provided by IFG helps suppliers to address the pressure of the current economic environment.

Greenbacker Renewable Energy Company LLC (“GREC” or “Greenbacker”), a leading climate-focused investment manager and independent power producer, today announced that it completed the closing of a new $150.0 million senior secured sustainability revolving credit facility. The closing of the credit facility reaffirms Greenbacker’s position among renewable energy companies as a well-capitalized owner and operator with access to capital through market cycles.

Global law firm Norton Rose Fulbright today announced that energy transactions lawyer McCaleb “Mac” Marshall has joined its highly regarded energy, infrastructure and resources practice as a partner in Houston. Joining from Porter Hedges, Marshall represents energy clients in connection with onshore, offshore, upstream and midstream projects located in the US and around the world. He has particular experience in acquisitions and divestitures, joint ventures, exploration and development projects, gas storage agreements, oil and gas transportation and marketing agreements as well as service and drilling contracts.

Tiger Finance, LLC and Pilot Wave E-Commerce Holdings, LLC (PWE) have closed on a flexible, $20 million credit facility — providing working capital to support PWE’s data-driven approach to acquiring, operating, and scaling ecommerce businesses.

Huntington Business Credit acting as Administrative Agent, Bookrunner and Lead Arranger announced it closed a $150,000,000 new credit facility with Leader Global Solutions, LLC on September 23, 2022. Leader Global Solutions, LLC, headquartered in Coral Gables, Florida, provides trade finance solutions to companies predominantly in Central and South America.

LBC Credit Partners (“LBC”), one of the leading providers of financing solutions to middle market companies, provided senior secured credit facilities to Hidden Harbor Capital Partners (“Hidden Harbor”) to support the acquisition of Machinery Services Corp. and Rapid Pump & Meter Services Co., Inc. (“MSC&RPM”). LBC served as Agent and Sole Lead Arranger for the senior secured credit facilities.

Centerspace (NYSE: CSR) announced that on November 22, 2022, it closed on a $100 million term loan with PNC Bank as administrative agent. The loan currently bears interest at a floating rate of 1.20% to 1.75% over the Secured Overnight Financing Rate, or SOFR, based upon Centerspace's leverage ratio and is for a term of one year with a one-year extension option. Proceeds from the term loan will be used to repay a portion of the balance on Centerspace's existing credit facility.

Safra New York Corporation, the parent company of Safra National Bank of New York, announced that it has entered into a definitive agreement to acquire Delta North Bankcorp and its subsidiary, Delta National Bank and Trust ("Delta"). Delta provides private banking and wealth management services to high net-worth clients through its offices in New York and Miami.

Regions Bank on Monday announced the launch of its Multi-Assets Solutions Group, the result of combining the bank’s Investment Research Group with the research team from Regions subsidiary Highland Associates.

Fashion apparel retailer Express, Inc. (NYSE: EXPR) today announced two transactions in support of a comprehensive plan to refinance its capital structure and expand its liquidity access while concurrently reducing interest rate exposure and providing flexibility to pay down its outstanding term debt balance.

RBC will acquire 100% of the issued common equity of HSBC Canada for a base cash consideration of CA$13.5bn (US$10.1bn1). In addition, RBC will acquire all the preferred shares and the outstanding subordinated debt issued by HSBC Canada and held by the HSBC Group for approximately CA$1.1bn (US$0.8bn) and CA$1.0bn (US$0.7bn), respectively. The Transaction is expected to complete in late 2023.

Consolidated Communications Holdings, Inc. (Nasdaq: CNSL) (the “Company”) announced the next step in positioning the Company to continue to execute on its Fiber-to-the-Premise (“FttP”) expansion plan to upgrade 1.6 million locations by the end of 2025. Consolidated has extended the maturity of its $250 million revolving credit facility (the “Revolver”) by two years from 2025 to 2027, subject to springing maturity, and enhanced its financial flexibility under the Revolver.

Bonterra Energy Corp. (www.bonterraenergy.com) (TSX: BNE) ("Bonterra" or the "Company") is pleased to announce the completion of the restructuring of the Company's debt capitalization through the closing of two new credit facilities (the "New Credit Facilities"). The New Credit Facilities are comprised of (i) a $110 million first lien secured credit facility (the "First Lien Facility"); and (ii) a $95 million second lien secured term debt facility (the "Term Debt Facility"). Simultaneously with the closing of the New Credit Facilities, the Company has fully repaid its $47 million Business Development Bank of Canada ("BDC") Term Facility.

OTCGH intends to use the proceeds to fuel its strategic acquisitions roadmap and continue to recruit top brokerage talent. "We are very excited about our markets and the prospect of opportunity that the partnership with H.I.G. Whitehorse offers for us to continue to innovate in every commodity market around the world," added Joe Kelly, President and Co-CEO of OTC Global Holdings.