TSL Express Daily Articles & News

Lumileds Holding B.V. (“Lumileds” or the “Company”), a global leader in innovative lighting solutions, announced today that the United States Bankruptcy Court for the Southern District of New York has confirmed the Company’s Plan of Reorganization (the “Plan”). Lumileds plans to emerge from the chapter 11 process (“Chapter 11”) the week of October 31 following the satisfaction of certain administrative items before the Plan becomes effective.

Synovus Bank today announced additions to its leadership team in its expanding corporate & investment banking (CIB) line of business. These new leaders will strategically grow client relationships through deeper industry expertise and broader corporate finance and advisory capabilities.

Seanergy Maritime Holdings Corp. (the “Company” or “Seanergy”) (NASDAQ: SHIP) announced today the closing of its previously announced $28.0 million term loan secured by two 2010-built Capesize vessels, M/V Fellowship and M/V Premiership, with a prominent European financing institution.

Forma Brands, the parent company of Morphe, Lipstick Queen, and Jaclyn Hill's Jaclyn Cosmetics, is considering Chapter 11 bankruptcy and has about $600 million to $700 million of debt, as reported by Reorg Research. People familiar with the process told BeautyMatter that the company was looking at various options to strengthen its financial position, stressing that a definitive direction has yet to be decided.

U.S. Bancorp (NYSE: USB) announced today that it has received all required U.S. regulatory approvals to complete the previously announced acquisition of MUFG Union Bank’s core regional banking franchise from Mitsubishi UFJ Financial Group (NYSE: MUFG), including approvals from the Board of Governors of the Federal Reserve System and the Office of the Comptroller of the Currency.

WSFS Bank, the primary subsidiary of WSFS Financial Corporation (Nasdaq: WSFS), today announced that Shari Kruzinski has been named Executive Vice President, Chief Consumer Banking Officer, reporting to Rodger Levenson, WSFS Chairman, President, and CEO. In her new role, she will oversee all aspects of the Consumer Banking division including Retail Delivery, Strategy, Consumer and Small Business banking and the Mortgage division. Kruzinski will assume the role following Rick Wright’s announcement that he will retire at the end of the year.

TD Bank, America’s Most Convenient Bank®, announced today that it provided a $18 million, tax-exempt loan to YMCA of Delaware for the construction of a new facility in Middletown. The loan was completed by Matthew Barnes, TD Bank Relationship Manager, and Lisa Kirkwood, Regional Vice President of Delaware, TD Bank.

Avid® (NASDAQ: AVID), a leading technology provider that powers the media and entertainment industry, today announced that it has entered into an amended secured credit facility with JPMorgan Chase Bank, N.A. and a syndicate of banks, including $186.7 million in senior secured term loans and a $120 million unfunded revolving line of credit.

Astra, a leading provider of instant card-to-card funding as a service in the U.S., today announced a $10 million Series A funding round led by FPV Ventures, with participation from Slow Ventures and Allegis Capital, as well as a $30 million line of credit through CoVenture to support the company’s rapid expansion in the payments industry.

H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with over $50 billion of equity capital under management, is pleased to announce the sale of its portfolio company Salary.com (the “Company”) to Accel-KKR. Terms of the transaction were not disclosed.

Capital One announced today that it has served as administrative agent for an amended and restated credit facility for EquipmentShare, a nationwide construction solutions provider. EquipmentShare will use the facility, which increased its borrowing capacity from $1.2 billion to $2.1 billion, to expand its footprint and finance further growth of the company. The revolver has a $1.0 billion accordion option.

Leading international law firm Clifford Chance has advised BlackRock in connection with a US$150 million term loan facility for Puttshack, a tech-infused mini golf entertainment venue. The proceeds of the loan will support Puttshack's rapid growth strategy in the United States as it continues to open venues in cities across the country.

SPECTRUM Commercial Services adds new Vice President, Ryan Baker, to its team of business development officers. Ryan joins SPECTRUM Commercial Services Company (spectrumcommercial.com), bringing well over a decade of aligning lending solutions for clients in the finance and legal industry. His track record of success working with commercial lenders, consultants and business owners make him an excellent fit for SPECTRUM’s sales role in Minneapolis and surrounding markets.

Maxim Commercial Capital (“Maxim”) expanded its target market with positive results during the third quarter of 2022. The direct lender launched an enhanced risk-based scoring system for its Truck Financing Program, resulting in lower down payments for owner operators with better credit. Buyers with sufficient real estate equity or other excess collateral may qualify for 100% purchase financing under Maxim’s Structured Finance Program.

First Citizens Bank today announced that James Ligman has joined as a managing director in its Middle Market Banking business to lead expansion efforts in the Orange County and Inland Empire regions. In this role, Ligman will be responsible for developing, maintaining and expanding client and prospect relationships throughout the middle market financing sector. Based in Newport Beach, he will report to Brendan Chambers, who leads First Citizens Middle Market Banking.

Winston & Strawn advised MacLean Power Systems (“MPS”), a subsidiary of MacLean-Fogg Company (“MacLean-Fogg”) and a leading manufacturer of products for transmission, distribution, substation, and communications infrastructure, with respect to a majority investment from Centerbridge Partners, L.P.

United Capital Funding Group LLC, a Florida-based factoring firm completed 12 transactions totaling $10 million in accounts receivable financing in Q3 of 2022. The firm is a wholly owned subsidiary of Gulf Coast Bank & Trust Company, an FDIC-insured bank based in New Orleans, Louisiana.

First Citizens Bank today announced that its Middle Market Banking business provided $19 million in financing to Truckee-Tahoe Lumber Company to provide support for their expanding business operations. Headquartered in Reno, Nevada, Truckee-Tahoe Lumber (TTL) is a family owned and operated business that supplies lumber, building materials, custom doors, cabinets, and hardware from six locations in Northern California and Nevada.

Comvest Credit Partners Acted as administrative agent and sole lender in providing a new $100 million senior secured loan facility to Ojos Locos, LLC, a Dallas-based restaurant chain operator in Comwest’s direct lending portfolio. The financing will be used to support Ojos Locos’ working capital and development needs. Comwest also made an equity co-investment in the company.

BWX Technologies, Inc. (NYSE: BWXT) announced today that it has closed on an amended and restated credit agreement with Wells Fargo Bank, N.A. and other lenders that increases the company’s liquidity while improving a number of key terms for BWXT.