TSL Express Daily Articles & News

Effective December 1, 2022, Andrea G. Short, President of 1st Source Bank will also become its CEO. Christopher J. Murphy III will remain Chairman, President and CEO of 1st Source Corporation and Chairman of 1st Source Bank. In her new role, Ms. Short will have Personal Banking, Business Banking, Specialty Finance, Wealth Advisory Services, Credit, and the Operations functions of the Bank reporting up through her. She remains an Executive Vice President of 1st Source Corporation.

On August 31, 2022, Harkness Capital Partners ("HCP"), a New York-based private equity firm focused on investments in leading service-oriented companies, completed an investment in Capital Pump & Equipment ("CPE"), a specialty pump rental and services platform based in Chandler, Arizona. HCP brings deep operating experience in specialty rental and in partnering with management teams in support of business building and growth initiatives. Fifth Third Bank provided a new Revolving Credit Facility to assist in facilitating the investment and to provide funding going forward to support CPE's growth strategy and build-out of new branch locations.

HBT Financial, Inc. (NASDAQ: HBT) (the “Company” or “HBT”), the holding company for Heartland Bank and Trust Company (“Heartland Bank”), today announced that Patrick F. Busch, Executive Vice President and Chief Lending Officer of the Company and President and Chief Lending Officer of Heartland Bank, will step down from these roles on December 31, 2022.

BMO has been recognized as the world's top ranked financial institution by the World Benchmarking Alliance's new global benchmark (WBA) for helping make progress in support of a just and sustainable economy. The WBA noted BMO's strong performance across all three measurement areas, noting it is one of the few financial institutions that has set targets for both environmental and social impact of its financing activities and tracks progress against them.

National Capital Bancorp, Inc. (the “Company”) announced today that Richard B. (Randy) Anderson, Jr. has decided to retire as Chief Executive Officer of its subsidiary, The National Capital Bank of Washington (the “Bank”) on December 31, 2022 after a distinguished 47-year career including the last seven years with the Bank. Mr. Anderson will continue to serve as President and Chief Executive Officer of the Company and a director of the Bank.

J D Factors announced it has provided the following factoring facilities: $200,000 to a transportation company in Illinois; $300,000 to a transportation company in Delaware; $150,000 to a transportation company in Texas; $400,000 to a transportation company in California.

Stonebriar Commercial Finance (“Stonebriar”) today announced the closing of a $75 million sale and leaseback of beverage production and packaging equipment for a market-leading co-manufacturer of high-growth beverages in the U.S. The lease proceeds will be used to support the lessee’s strategic investments in its various facilities and for general corporate purposes.

When Hurricane Ian hit Florida in late September, more than 2.5 million homes and businesses were without electricity throughout the state. Once the danger from the storm subsided, crews quickly got to work assessing the damage and planning restoration of power. One such company - based in Orlando - was the first on the scene in many parts of the state and its team realized that in order to get vital utilities restored quickly, they were going to need to ramp up quickly. That would require more people - and getting those people was going to take working capital.

Windstream Holdings II, LLC, (the “Company”) today announced the completion of a new $250 million Super Senior Incremental Term Loan as well as a refinancing of its existing revolver that will extend the revolver maturity to 2027 from 2024.

Great Rock Capital, an asset-focused commercial finance company specializing in middle market lending, today announced Stephen Shelton has joined the firm as Managing Director of Originations. Stephen will be responsible for expanding the firm’s origination efforts throughout New York City and the surrounding area.

Orange signed today with 27 international banks a new Sustainability-linked multi-currency EUR 6 billion syndicated revolving facility in order to refinance in advance the existing facility expiring December 2023. This Sustainability-linked refinancing reflects the Group's commitments in terms of environmental and social responsibility, as the margin is linked to the achievement of sustainability targets relating to CO2 emissions (Scopes 1 & 2, Scope 3), supporting its aim to become Net Zero Carbon by 2040, and gender diversity.

As previously reported, in early 2022, the New York Court of Appeals granted the request of the Secured Finance Network (SFNet) to appear as amicus curiae in support of a secured lender’s appeal of problematic rulings issued in litigation between Worthy Lending, LLC and New Style Contractors, Inc. SFNet believed that the lower courts’ rulings were inconsistent with established commercial law and practice and, if allowed to stand, would operate to the detriment of secured lenders, borrowers and account debtors.

Abacus Finance Group, LLC – a leading provider of cash flow-based, classic senior debt for sponsor-led buyouts of companies with $3 million to $15 million in EBITDA – today announced that it served as Senior Secured Credit Facilities Administrative Agent and Sole Lender for senior secured credit facilities to support the leveraged buyout of Pinnacle Clinical Research, LLC by LongueVue Capital. Additionally, Abacus made an equity co-investment in Pinnacle Clinical Research.

Longtime Stradley Ronon leader Chairman Emeritus Bill Sasso was selected as chair of Pennsylvania Gov.-Elect Josh Shapiro and Lieutenant Gov.-Elect Austin Davis’ Transition Leadership Board on Nov. 22. Bill will help lead the “diverse, dynamic, bipartisan group” to ensure a smooth transition from the Gov. Wolf Administration to the historic Shapiro-Davis Administration.

Cushman & Wakefield announced today that the real estate services firm served as the exclusive advisor to Epum Holdings (“Epum”) in the structuring of a senior secured revolving credit facility with initial loan proceeds of $25 million and the ability to increase to $50 million over time. Epum currently owns five marinas, and the facility is meant to help Epum continue to grow their marina portfolio in the eastern United States.

Peter Rex, founder and Executive Chairman of Rex, announced that PayUp, a Rex company, has partnered with Austin-based nFusion Capital. PayUp is a technologized early payment solution for small and medium-sized businesses ensuring convenient and affordable access to capital. nFusion Capital is a private working capital finance company delivering customized financing solutions to small and medium-sized businesses.

-Balance, the leader in B2B payments specializing in financing and ecommerce, has announced a $350 million credit facility from Viola Credit to continue enabling B2B commerce and ease working capital. This announcement comes on the heels of Balance’s $56M in Series B financing round to help merchants and marketplaces scale ecommerce payments with instant financing and a B2B checkout.

-DXP Enterprises, Inc. (NASDAQ: DXPE) today announced that it has closed on raising incremental $105 million Senior Secured Term Loan B (“TLB”) borrowings that will be added to the initial $330 million Term Loan B raised in December of 2020. Including the new borrowings, DXP will have $417.2 million in Senior Secured Term Loan B borrowings.

CIBC Innovation Banking is pleased to announce a $25 million debt financing for Massachusetts-based Podimetrics Inc. ("Podimetrics"), an integrated clinical care service company that helps prevent amputations in patients suffering from complex diabetes. Podimetrics plans to use the growth capital to expand its commercial operations.

This Revolving Facility has been fully underwritten by commitments of its syndicate of Canadian and International financial institutions, led by Bank of Montreal, The Toronto-Dominion Bank, The Bank of Nova Scotia, and National Bank of Canada.