TSL Express Daily Articles & News

Culain Capital Funding LLC, a specialty finance firm focusing on responsive and efficient funding solutions for small and medium sized business in the United States announces the completion of a $1,000,000 Accounts Receivable Factoring Facility with a startup Specialty Maintenance Staffing Company based in Texas.

BHI, a full-service commercial bank, announced that it has provided an $80 million construction loan to 200 East 20th St LLC. Owned by the Tidhar Group affiliate, the 200 East project is a development of a new condominium building located at 20th Street and Third Avenue in the Gramercy Park neighborhood of Manhattan.

Leading global professional services firm Alvarez & Marsal (A&M) appointed Garrett Louthan, a professional environmental engineer (P.E.), and Eric Brousseau, as Managing Directors in its new ESG Transaction Advisory practice within the firm’s Global Transaction Advisory Group (TAG)

Altera Infrastructure L.P. and certain of its subsidiaries (“Altera”), one of the world’s leading suppliers of infrastructure assets to the offshore energy industry, announced today that it has emerged from the chapter 11 process in the United States Bankruptcy Court for the Southern District of Texas after successfully consummating its chapter 11 plan of reorganization (the “Plan”).

Monroe Capital LLC announced it acted as administrative agent and sole lead arranger on the funding of a senior credit facility to support the acquisition of ITK Solutions Group LLC (“ITK”) by Argano, an existing portfolio company of Trinity Hunt Partners.

Abacus Finance Group, LLC – a leading provider of cash flow-based, classic senior debt for sponsor-led buyouts of companies with $3 million to $15 million in EBITDA – today announced that it served as Senior Secured Credit Facilities Administrative Agent and Lead Arranger for $17.5 million in senior secured credit facilities to support the leveraged buyout of Caster Connection, LLC. by River Associates Investments.

LSQ, a leading provider of working capital finance and payments solutions, and Calculum, an industry leader in financial artificial intelligence (AI) and data-analytics services, today announced an agreement to collaborate and combine LSQ working capital and Supply Chain Finance solutions with Calculum's data analytics services as well as their technical expertise. With the era of free money fading into history and rising interest rates it is the perfect time for corporates to look at different ways to improve free cash flow.

Solifi™, a global fintech software partner for secured finance, announced its newest technology partnership with Codat to make it easier for asset-based lending (ABL) firms to make smarter, faster, and actionable credit decisions. Using pre-built APIs, Codat enables consented business data from small- and medium-sized business (SMB) banking, accounting, and commerce platforms to integrate into operational systems in real time.

ExeVir Bio, a biotech company developing robust nanobody therapies for broad protection against infectious diseases, today announced that it has secured a venture debt financing agreement of up to EUR 25M (around USD 26.5m) with the European Investment Bank (EIB)*. The EIB financing will help advance ExeVir’s lead asset, XVR012, into clinical trials for COVID-19.

White Oak Commercial Finance (“White Oak”), an affiliate of White Oak Global Advisors, LLC, today announced that it has provided a $3 million factoring facility to a leading provider of temporary staffing and recruiting services with a more than 70 year history of family ownership successfully serving clients across the country.

Approximately 30 minutes before the U.S. Bankruptcy Court in the Northern District of Mississippi was set to hear Wells Fargo N.A.’s petition for involuntary bankruptcy proceedings and to appoint an interim trustee to oversee the dissolution of United Furniture Industries’ assets, UFI presented a motion to dismiss the petition and to convert the Chapter 7 filing to a Chapter 11 bankruptcy in order to liquidate its assets.

North Mill Equipment Finance LLC (“NMEF”), a leading independent commercial equipment lender located in Norwalk, Connecticut, announced today that 2022 was the best year in the company’s 65-year history. Organic lease and loan originations reached an all-time high and financial and operational key performance indicator (“KPI’s”) exceeded all expectations.

Cohn & Dussi, a full-service law firm with its principal office in Boston, is pleased to announce that four attorneys from the firm were named Top Lawyers by Boston magazine. Boston magazine's Top Lawyers List recognizes lawyers throughout Greater Boston for excellence in the field as chosen by their peers.

EagleBank, one of the largest community banks in the Washington, DC area, today announced the appointment of Jay Namputhiripad as Chief Risk Officer, replacing Jeff Curry after his retirement this month. A 23-year veteran in the risk and compliance field, Namputhiripad will be responsible for overseeing EagleBank’s internal and external risk and compliance processes.

First Business Financial Services, Inc. (the “Company”, the “Bank”, or “First Business Bank”) (Nasdaq:FBIZ) announced promotions among its commercial banking team, advancing key leaders across its Midwest business banking markets.

Guess Inc. has entered into a $150 million senior secured asset-based revolving credit facility with a term of five years. This gives the apparel retailer an expansion of its access to capital in North America and extends its existing $120 million North American credit facility. The amended facility includes an option that allows further expansion of the total amount by as much $150 million, subject to certain conditions, according to a release from Guess.

Abacus Finance Group, LLC – a leading provider of cash flow-based, classic senior debt for sponsor-led buyouts of companies with $3 million to $15 million in EBITDA – today announced that it served as Senior Secured Credit Facilities Administrative Agent and Lead Arranger for senior secured credit facilities to support the recapitalization of Accelevation, LLC by LFM Capital.

Eclipse Business Capital LLC (“EBC”), announced today that it has provided a $200 million senior secured revolving credit facility to a leading provider of products to the petrochemical industry. The credit facility is secured by accounts receivable and inventory that will be used to support ongoing working capital needs.

--Angelo, Gordon & Co., L.P. (“Angelo Gordon” or the “Firm”), a $52 billion alternative investment firm focused on credit and real estate investing, today announced that AG Twin Brook Capital Income Fund (“TCAP” or the “Fund”) has launched with more than $800 million in total assets. TCAP is a non-traded business development company (“BDC”) that has approximately $530 million in equity and over $1 billion in total investment commitments at launch.

eritage Bank ("Heritage" or "Bank"), a wholly-owned subsidiary of Heritage Financial Corporation (Nasdaq: HFWA), is pleased to announce the appointment of Matt Ray as Executive Vice President Chief Lending Officer, Amy Curran as Executive Vice President Director of Commercial Banking, Kelli Wilson as Executive Vice President Chief Banking Officer and Sabrina Robison as Executive Vice President Chief Human Resources Officer. Robison assumed her new executive title in September 2022, while Ray, Curran and Wilson assumed their new executive roles on January 1, 2023. Wilson will succeed Cindy Hirman who is scheduled to retire in April 2023.