TSL Express Daily Articles & News

Fifth Third Bank announced it provided $9.4 million asset-based lending credit facility for B12 Transportation Group, LLC. B12 Transportation Group, LLC. Is a transportation-focused holding Company comprised of two wholly owned subsidiaries: Diamond Acquisition, LLC which is a manufacturer of medium sized composite buses, and Brown Industries, LLC which is a manufacturer of van bodies, rail equipment, and specialty vehicles.

Wells Fargo has elevated Adam Kleinman to commercial banking division sales executive for the metro New Jersey and New York region, the bank announced Tuesday. In his new position, Kleinman will transition from his current business development officer role, which he has held since 2017, to develop, support, and lead business development officers, develop strategic sales initiatives, and assist in new client acquisition and deepen existing customer relationships across the market.

Steward Partners Global Advisory, LLC, an employee-owned, full-service independent partnership, has secured a $140 million credit facility to support the next phase of the partnership's development and fuel its future growth. The facility was led by Apogem Capital LLC, with support from Manulife Investment Management, and Cynosure Investment Partners, LLC.

Porter Capital Corporation, a leading provider of working capital solutions, is pleased to announce the additions of Tanya Fontenot and Robert (Bob) Reagan to the Porter Capital sales team.

SMBC Nikko Securities America, Inc., a member of SMBC Group, today announced that Raffi Dawson has joined the firm as Managing Director, Head of Structured Finance Group. In this new role, Raffi will be responsible for overseeing the securitization businesses, including conduit business, ABS and CLO. Raffi is based in New York, and reports to Scott Ashby, Head of Capital Markets and Investment Banking.

Aequum Capital recently closed a new $50 million revolving line of credit led by Texas Capital Bank. This new financing will augment Aequum's significant equity base to support loan origination volume. With the new credit facility, Aequum is well-positioned to execute on market opportunities and organic growth of its portfolio.

J D Factors announces it has provided the following factoring facilities: $200,000 to a transportation company in California; $300,000 to a transportation company in New York; $200,000 to a transportation company in Illinois; $250,000 to a transportation company in Ohio...

Solifi™, a global fintech software partner for secured finance, announced the release of its latest version of Solifi Asset-Based Lending (ABL) software, which includes several new and enhanced features designed to improve the lender and borrower experience through self-service functionality, gain insights into portfolio risk, and increase efficiencies through enhanced audit compliance and visibility.

Quotient Technology Inc. (NYSE: QUOT) (“Quotient” or the “Company”), a leading digital media and promotions technology company, today announced that it has entered into a commitment letter with PNC Bank, N.A. (“PNC”), pursuant to which PNC, subject to terms and conditions stated in the letter, has committed to provide the Company with a senior secured asset-based revolving credit facility in an initial aggregate principal amount of $50 million.

Swiss Water Decaffeinated Coffee Inc. (TSX – SWP) (“Swiss Water” or the “Company”) is pleased to announce it has successfully completed the expansion of its credit facilities with its existing senior lenders, resulting in $33.25 million of incremental capital availability, consisting of $21.25 million of expanded revolving credit capacity and $12 million of incremental senior term financing.

The term loan allows for periodic draws in an aggregate amount up to $100 million, with an additional $25 million available subject to satisfying certain conditions. Guggenheim Securities, LLC acted as lead placement agent and lead arranger and RBC Capital Markets, LLC acted as arranger for the senior secured term loan facility.

New York Community Bancorp, Inc. and Flagstar Bancorp, Inc. today announced that NYCB has received regulatory approval from the Federal Reserve Board to complete its previously announced acquisition of Flagstar Bancorp, Inc.. On October 28, 2022, NYCB and Flagstar announced the receipt of regulatory approval from the Office of the Comptroller of the Currency to convert Flagstar Bank, FSB to a national bank to be known as Flagstar Bank, N.A. and to merge New York Community Bank into Flagstar Bank, N.A.

Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) today announced the closing of two transactions that together fund the working capital needs of Montana Renewables LLC (MRL). A Supply and Offtake Agreement (SOA) with Macquarie Commodities and Global Markets provides inventory monetization for renewable feedstocks and products, as well as intermediation services connected with the purchase of renewable feedstocks.

Catalio Capital Management, LP (“Catalio”), a leading multi-strategy life sciences investment firm, today announced the successful close of its inaugural special situations fund, Catalio Credit Opportunities Fund I (the “Fund”) with over $85 million in commitments from new and existing institutional investors globally, including leading family offices, endowments, foundations and insurance companies.

HighVista Strategies, LLC (“HighVista”) announced the final close of its HighVista Opportunistic Private Credit Fund II LP (“Fund II”). HighVista closed on $450mm of capital for Fund II and related entities, exceeding the target for the fundraise. Fund II had strong support from existing clients including pension funds, endowments and foundations, and family offices.

FibroGen, Inc. (NASDAQ: FGEN) today announced a royalty monetization financing with NovaQuest Capital Management (NovaQuest) that will result in proceeds to FibroGen in the amount of $50 million, bringing non-dilutive capital to drive innovation and growth. Morgan Stanley & Co. LLC acted as the sole structuring agent and Goodwin Procter LLP acted as counsel to FibroGen. Wyrick Robbins Yates & Ponton LLP acted as counsel to the investor.

Ares Capital Corporation (Nasdaq: ARCC) announced that it has priced a public offering of 8,000,000 shares of its common stock. Ares Capital has granted the underwriters an option to purchase up to an additional 1,200,000 shares of common stock. The offering is subject to customary closing conditions and is expected to close on November 10, 2022.

Runway Growth Capital LLC ("Runway"), a leading provider of growth loans to both venture and non-venture backed companies seeking an alternative to raising equity, today announced the closure of a long-term senior secured credit facility of $75 million to Brivo Systems LLC ("Brivo"), a leading provider of cloud-based access control and smart building technologies.

Sallyport Commercial Finance is pleased to announce $1,500,000 in accounts receivable finance for a U.S. oil and gas services business. The client had been a long-term prospect and was in need of a lender to support them in high growth mode. The funds will enable them to continue acquiring complementary businesses in the oil and gas space and expand to offer a comprehensive range of services to the industry.

Celtic provided a $1,000,000 accounts receivable line of credit, a $500,000 inventory line of credit and a $152,000 equipment loan to facilitate the refinancing.