TSL Express Daily Articles & News

CIT, a division of First Citizens Bank, today announced that its Power and Energy business served as coordinating lead arranger of construction financing for a major new solar energy project in Texas. Avantus (formerly 8minute) is the developer of the147-megawatt (MWdc) solar power facility now under construction in Concho County, Texas. The project, known as Galloway 2, is adjacent to the successful Galloway 1 solar project, which was built in 2020 with CIT-led construction financing.

National Funding is pleased to announce the hiring of Rob Rosenblatt as President of Business Loan Center LLC, National Funding’s new digital lending division. As a leader in providing financing for small- to mid-sized businesses (SMBs), National Funding is making a significant commitment to developing new digital and mobile-focused lending solutions for the segment.

Star Mountain Capital, a rapidly growing, employee-owned specialized private investment firm focused on the lower middle-market with over $3 billion of AUM, announced that T. J. Della Pietra, former Global Head of Citi Holdings, a division of $2+ trillion global commercial and investment bank Citigroup, has joined as a Senior Advisor.

Briar Capital Real Estate Fund is pleased to announce the closing of a $7.9MM commercial real estate loan to a precast concrete products company located in Florida who had been dealing with supply chain issues and material shortages as a result of COVID.

InterNex Capital provided a $1.2 million revolving line of credit to a six-year-old marketing agency based in New York. The company sought greater flexibility and availability of working capital from a lending partner with knowledge of their industry.

SFNet has submitted a comment letter addressing the latest round of proposed regulations. SFNet’s Advocacy Committee has been working with DFS on scope of the disclosure law and the proposed regulation since early 2021 and has previously provided detailed comments and suggested revisions to the initial draft regulations.

Lumileds Holding B.V. (“Lumileds” or the “Company”), a global leader in innovative lighting solutions, has successfully completed its financial restructuring and emerged from Chapter 11, having reduced its funded debt by approximately $1.4 billion. With the restructuring transaction completed, Lumileds will be owned by a new group of long-term institutional investors, including Anchorage Capital Group, L.L.C., Nut Tree Capital Management, L.P., and Cerberus Capital Management, L.P.

Helbiz, Inc. (NASDAQ: HLBZ) (“Helbiz” or the “Company”), a leader in micro-mobility and long-term rentals, today announced that it has entered into a $13.9 million common stock standby equity line purchase agreement (the “Agreement”) with Yorkville Advisors (the “Investor”).

Hilco Streambank is offering for sale certain assets of Project Verte, which has developed cloud-based, AI-driven technology to automate and scale ecommerce operations. The bid deadline is November 28, 2022 and the auction will be held on November 30, 2022.

Buyers can acquire heavy-duty cranes, boom trucks, trailers and other former assets of Dalton Crane in a Thursday, November 10 live, online webcast auction by Tiger Group and GA Global Partners.

Blank Rome LLP is pleased to announce that R. Colgate Selden has joined the firm’s Washington, D.C., office as a partner in the Financial Institutions Litigation & Regulatory Compliance (“FILARC”) practice group. At Blank Rome, Colgate will advise clients on federal and state laws regulating consumer and mortgage lending. Colgate joins Blank Rome from Promontory MortgagePath LLC, a company founded by a former comptroller of the currency and provider of digital mortgage and fulfillment solutions, where he served as managing director and head of regulatory legal, compliance, and risk.

Lendbuzz, a fintech company that is disrupting the car financing market using AI and machine learning algorithms, announced today that it closed a $150 million credit facility with J.P. Morgan. This is the second credit facility between the investment bank and the financial technology company in 2022 (in January, J.P. Morgan extended a line of credit to Lendbuzz), and in April 2022, J.P. Morgan served as an underwriter on a broadly syndicated ABS transaction.

Joseph Malfitano has joined Gordon Brothers, the global advisory, restructuring and investment firm, as Senior Managing Director on the firm’s transaction team supporting retail, commercial and industrial, and real estate in North America.

-- J.P. Morgan Asset Management today announced the launch of a new life sciences private equity team, Life Sciences Private Capital. The new team will invest in both early and growth stage healthcare companies across multiple strategies aligned to specific market opportunities, with a focus on novel therapeutics and technologies in several target areas including Genetic Medicine, Oncology, Neurodegenerative Disease, Rare Diseases, Autoimmunity, AI/ML platforms, Metabolic Diseases and Neuropsychology.

Culain Capital is very pleased to announce that Mark J. Simshauser has joined our team as the Northeast Senior Vice President responsible for building and driving business development throughout the region. Mr. Simshauser has over 23 years of middle market direct lending experience with his career beginning in 1999 at FINOVA Capital, where he developed financing opportunities across the country for multiple financing groups of the parent company.

William (Bill) J. Mayer, a senior finance industry executive responsible for generating billions of dollars in growth during his 33 years at Wells Fargo and GE Capital, has joined Tiger Group as Executive Managing Director. He will focus on business development for the asset-valuation, disposition and finance firm.

Founded in 2016, Alumni Staffing LLC (“Alumni”) is based in New Jersey and focused on providing temporary physician services (locum tenens) to healthcare facilities nationwide. Alumni has consistently posted year-over-year growth since inception and is currently on pace to achieve record-high revenues and profits for 2022. Alumni desired a more robust credit facility to sustain this growth trajectory and maximize financial flexibility.

“The promotion of these new partners reflects Jones Day’s ongoing commitment to developing and advancing lawyers throughout the world who have achieved the highest level of professional accomplishment and who are devoted to advancing and protecting the interests of our clients and the institutional values of the Firm,” said Stephen J. Brogan, Managing Partner of Jones Day.

The brand is known for expertly bringing the classic American aesthetic forward with contemporary pieces across multiple product categories and styles, including men’s and women’s crew pants, shorts, henleys, sweaters and knitwear, outerwear, polos, rugby shirts, flannels, wearable accessories, bags, shoes, eyewear, and more.

When a critical-response organization mobilizes to provide support to communities impacted by a natural disaster, having the funds to make payroll and operate effectively should not be a concern. To help Jacksonville, Florida-based Critical Response Strategies, LLC (CRS) focus on the important work of providing medical staff to assist in the Hurricane Ian relief effort, LSQ recently originated a $12 million accounts receivable finance facility to provide funding for operations and payroll.