TSL Express Daily Articles & News

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.

Loeb announces that it has recently provided four new term loans totaling $9.3 million. These loans will help four companies, in transitional financial states, grow their businesses by leveraging working capital from their existing machinery and equipment.

Rockland Trust is pleased to welcome Slayton Purcell to its Asset Based Lending Team as Vice President, Relationship Manager. In his role, Slayton is responsible for managing a growing portfolio of clients while underwriting and building new relationships.

Alida, a leader in experience management, today announced it has secured a USD $60 million syndicated credit facility from lead lender National Bank of Canada through its Technology and Innovation Banking Group. Co-lenders include BMO, Comerica, and Silicon Valley Bank. The funding offers the company meaningful capital to continue its long-term growth trajectory.

One Liberty Properties, Inc. (NYSE:OLP) entered into an amendment to its $100 million credit facility which extends the facility through December 2026, increases the amount available to be borrowed for renovation and operating expense purposes to the lesser of $40 million and 40% of the borrowing base, provides that the interest rate will be based on 30-day SOFR and requires compliance with certain amended and additional covenants. The financing is led by Manufacturers and Traders Trust Company and an affiliate of Valley National Bank.

OceanFirst Financial Corp. (NASDAQ:OCFC) (“OceanFirst”), the holding company for OceanFirst Bank N.A., and Partners Bancorp (NASDAQ: PTRS) (“Partners”), the parent company of The Bank of Delmarva (and its division, Liberty Bell Bank) headquartered in Seaford, Delaware, and Virginia Partners Bank (and its division, Maryland Partners Bank) headquartered in Fredericksburg, Virginia, jointly announced today they have agreed to terminate the merger agreement announced on November 4, 2021, effective immediately.

Waterfall Asset Management today announced that Patrick Lo and Brian Rebello have been elevated to Co-Chief Investment Officers. Patrick and Brian, both partners of the Firm, have been instrumental in Waterfall's growth and successful investment performance on behalf of its clients over the past 15 years.

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and $6 billion in assets, today announced that it has provided $16 million in funding to support the expansion of Tropical Products, a private label manufacturer of personal, pet, and home care products. Based in Salem, Mass., the company manages the development of products for a variety of consumer brands that are sold by Walmart, Target, PetSmart, Petco, Amazon, and many other retailers.