TSL Express Daily Articles & News

Entrepreneur Growth Capital (“EGC”) announced the completion of a $1.5 million senior secured credit facility to a third-generation, family-owned importer, roaster and distributor of premium grade coffee and related products.

InterNex Capital provided a $3 million revolving line of credit to an electronics wholesaler in the Pacific Northwest. The growing company sought to refinance existing debt to improve margins as they continue to grow.

Byline Bank recently announced year to date funding transactions of over $30MM in commitments by their Asset Based Lending team, according to ABL Head Andrew Bennett.

Despite ongoing concerns surrounding inflation, U.S. small business owners are optimistic about the future and feel prepared to adapt as needed to meet their customers' needs. According to new research by Union Bank, a leading West Coast bank, small businesses that have prioritized digital technology capabilities and increased their social media presence since the start of the COVID-19 pandemic have seen their businesses grow.

NexBank Capital, Inc. (the "Company"), a financial services and parent company of NexBank (the "Bank"), today announced John L. Holt, Jr.'s decision to retire as President and CEO at year end. Holt will continue to serve the Company in his role as Chairman of the Bank and new appointment as Vice Chairman of the Company. Matt Siekielski, who is a Director and EVP, Chief Operating Officer, has been named President and Chief Executive Officer. Both appointments are effective November 10, 2022.

United Rentals, Inc. (NYSE: URI) today announced that the company has entered into a definitive agreement to acquire the assets of family-owned Ahern Rentals, Inc. for approximately $2.0 billion in cash. The board of directors of United Rentals unanimously approved the agreement. The transaction is expected to close prior to year-end 2022, subject to customary conditions.

Washington Federal, Inc. (NASDAQ: WAFD, “Washington Federal”) and Luther Burbank Corporation (NASDAQ: LBC, “Luther Burbank”) jointly announced today the signing of a definitive merger agreement (“Merger Agreement”) pursuant to which Washington Federal will acquire Luther Burbank and its wholly-owned subsidiary, Luther Burbank Savings, in an all-stock transaction valued at approximately $654 million based upon the closing price of Washington Federal’s common stock on November 11, 2022.

Focus Financial Partners Inc. (NASDAQ:FOCS) ("Focus"), a leading partnership of independent, fiduciary wealth management firms, announced today that it is launching a new credit facility to refinance its existing First Lien Term Loan and Revolver due in 2024. Focus may also raise additional debt capital for general corporate purposes.

Northern Oil and Gas, Inc. (NYSE: NOG) (the “Company” or “NOG”) today announced the completion of its semi-annual borrowing base redetermination under its reserves-based revolving credit facility. The borrowing base under the facility was increased from $1.3 billion to $1.6 billion, and NOG has chosen to increase the elected commitment amount from $850.0 million to $1.0 billion.

BB Energy, a leading global independent energy trading company, is pleased to announce that it has successfully refinanced and expanded a $580 million senior secured borrowing base credit facility (the 'Facility'). Based on an initial size of $500 million, the Facility was increased to US $580 million to finance BB Energy USA trading flows across the Americas. It has a US $320 million accordion feature available to support future growth.

Venice Gamble has joined the team at Loeb as Vice President of Business Development. Venice has nearly two decades of experience in special situations, M&A, and asset disposition solutions. Venice couldn't be more excited to join the team at Loeb where his background will foster continued growth in each of Loeb's verticals.

U.S. Bank (NYSE: USB) announced executive leadership changes today that will change how the company manages technology and operations for its employees and customers. Jeff von Gillern, vice chair of Technology and Operations Services, intends to retire from the company in late 2023 after more than 20 years of service to the organization.

Medalist Partners (“Medalist”) and Semper Capital (“Semper”) announced today that they have formed a strategic partnership to co-invest across structured credit opportunities while leveraging the complementary investment expertise across both platforms. Under the partnership, Medalist will provide investment support and institutional resources to bolster the existing capabilities of Semper, while the firms plan to launch new products together in the future as demand for alternatives from retail investors increases globally.

T2 Biosystems, Inc. (NASDAQ:TTOO), a leader in the rapid detection of sepsis-causing pathogens and antibiotic resistant genes, today announced the successful amendment and extension to its Term Loan Agreement with CRG Servicing LLC (“CRG”).

Atalaya Capital Management (“Atalaya”, the “Firm”), an alternative asset manager focused on private credit and special opportunities investing, announced today the addition of Bharath Subramanian as a Managing Director in the firm’s specialty finance practice, which is focused on providing capital to consumer finance, commercial finance, and other financial services businesses.

Global interest rates have risen more rapidly than expected in the past two months, and Federal Reserve and ECB policy rates are now likely to peak at a later date and higher level than anticipated in Fitch Ratings’ September 2022 Global Economic Outlook (GEO). Stubbornly high inflation outturns and a hardening of central bank resolve to bring inflation down make a pivot back towards rate cuts in 2023 unlikely.

Tornado Global Hydrovacs Ltd. is pleased to announce that it has amended the Company’s credit facility (the “Credit Facility”) with The Toronto-Dominion Bank (“TD”) to increase the revolving operating line of credit from $3 million to $6 million (the “Operating Line”).

Furniture companies should consider using their real estate to generate cash, lower expenses and seize new opportunities, advise the co-presidents of A&G Real Estate Partners in a piece for FurnitureToday.com.

GoDaddy Inc., Go Daddy Operating Company, LLC and GD Finance Co, LLC closed the credit agreement refinancing announced on October 21, 2022. In connection with the closing, Borrowers entered into a Sixth Amendment to the Second Amended and Restated Credit Agreement, dated February 15, 2017, by and among the Borrowers, certain other GoDaddy subsidiaries, Royal Bank of Canada as the successor Administrative Agent, Collateral Agent, Swingline Lender and Letter of Credit Issuer and the other parties party thereto.

White Oak Healthcare Finance, LLC (“White Oak” or “WOHCF”) today announced it acted as sole lender and administrative agent of a senior credit facility to United Dental Corporation (“UDC” or the “Company”), to finance four acquisitions in Arizona, California, Georgia and Colorado.