TSL Express Daily Articles & News

King Trade Capital (“KTC”) is pleased to announce the completion of a $5 million purchase order finance facility for a California based HVAC equipment supplier. King Trade Capital was introduced to the HVAC company by its factoring company, one which KTC has a longstanding relationship.

Mercer International Inc., or "Mercer", (Nasdaq: MERC) today announced that it has successfully entered into a new €300 million revolving credit facility for its German subsidiaries with a syndicate of European banks (the "New Facility"). The New Facility has a five year term, is unsecured and accrues interest at a rate of Euribor plus a stipulated margin.

SVB Financial Group (SVB), the financial partner of the innovation economy and parent of Silicon Valley Bank, today announced the appointment of Thomas King, former Chief Executive Officer of Investment Banking at Barclays, to its board of directors, effective September 13, 2022. King will also serve on the board's Compensation and Human Capital Committee.

Greenbacker Renewable Energy Company LLC (“GREC” or “Greenbacker”), a leading green energy investment company and independent power producer, has entered into a senior credit agreement of $186.2 million with KeyBank N.A. and Fifth Third Bank. KeyBank served as administrative agent for the lenders, and KeyBanc Capital Markets and Fifth Third Bank, National Association served as joint lead arrangers.

Fundamental Renewables, an established provider of financing for solar and other renewable energy projects, today announced that it has secured a $400 million credit facility. Delaware Life Insurance Company ("Delaware Life"), a Group 1001 company, acted as the arranger of the facility and is a lead lender. Other lenders include CDPQ American Fixed Income V Inc., a wholly-owned subsidiary of CDPQ, and East West Bank. Fundamental Renewables is the clean energy investment arm of Fundamental Advisors ("Fundamental").

BRT Apartments Corp. (NYSE:BRT) entered into an amended credit facility which increases to up to a total of $60 million the amount available to be borrowed for the acquisition of, and repayment of mortgage debt on, multi-family properties, increases the amount available to be borrowed for operating expenses to $25 million, and extends the term of the facility to September 2025. The financing is lead by VNB New York, LLC, an affiliate of Valley National Bank.

Oportun Financial Corporation (Nasdaq: OPRT) (the “Company” or “Oportun”), a mission-driven fintech and digital banking platform, today announced that it has closed a $150 million senior secured term loan due in 2026 from funds managed or sub-advised by Neuberger Berman Specialty Finance.

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, and Skyview Capital, LLC ("Skyview"), a global private investment firm specializing in the acquisition and management of mission critical enterprises in technology, telecommunications, business services and manufacturing, announced today a significant growth investment in Fidelis Cybersecurity ("Fidelis").

CIBC Innovation Banking is pleased to announce a new debt financing for Massachusetts-based TransMedics Group, Inc. ("TransMedics"), a market leading medical technology company that focuses on organ transplant therapy for patients with end-stage lung, heart and liver failure. TransMedics plans to use the incremental growth capital to accelerate its commercial momentum, helping to grow transplant volume and improve clinical outcomes.

Jennifer A. Lewellyn, a 22-year retail veteran with experience in both managing healthy stores and liquidating underperforming locations, has joined Tiger Group as Associate Director of Retail Operations. Based in Pittsburgh, Lewellyn will provide operational input and data to Tiger’s retail dealmaker team during the due-diligence phase. She will work on special projects, write appraisal reports and provide on-site leadership and executive representation.

The NFIB Small Business Optimism Index rose 1.9 points in August to 91.8, marking the eighth consecutive month below the 48-year average of 98 but reversing some of the declines in the first half of the year. Twenty-nine percent of owners reported that inflation was their single most important problem in operating their business, a decrease of eight points from July’s highest reading since the fourth quarter of 1979.

Revlon Inc. received bankruptcy court approval to pay a total of between $14.5 million and $36 million in potential bonuses to eight insiders. The beauty-products business, which sought protection from creditors in June, could make the variable payments over 18 months to keep the top senior executives on board as it reorganizes in chapter 11.

CubicFarm® Systems Corp. ("CubicFarms" or the "Company") (TSX: CUB), a leading local chain agricultural technology company, today announced that it has entered into a binding term sheet (the "Term Sheet") for a senior secured revolving term loan (the "Term Loan") to support its business operations.

Cascadia Capital, one of the nation's most active independent middle-market investment banks, has reached a definitive agreement to secure a strategic growth equity investment from an investment fund affiliated with Atlas Merchant Capital LLC. With the additional resources from the investment and the Atlas team's support, Cascadia will continue its geographic, product, team, multi-industry and sponsor coverage growth nationwide.

A Philadelphia-based nonprofit organization offering education programming throughout Greater Philadelphia since 1992 was in the market for a new funding source. Their most recent source of funding went through financial difficulties of its own and was purchased by another lender that didn’t feel comfortable working with nonprofit clients.

Assembled Brands is pleased to announce $27 million in new facilities during the summer months of 2022. Dispersed to emerging consumer goods brands from various industries, the funds support growth opportunities, improve inventory positions and relieve some of the capital constraints many businesses face in a tumultuous market this year.

Gibraltar proudly welcomes Lisa DeSantis Adams as the newest member of our expert business development team as an SVP and Business Development Officer for the West Region. Lisa is an experienced leader who has accrued more than 25 years’ experience working in bank and non-bank lending environments through originating, structuring and managing debt financing.

Monroe Capital LLC announced it acted as sole lead arranger and administrative agent on the funding of a senior credit facility to support Arizona Natural Resources’ (“ANR”) acquisition of Contract Filling Inc. (“CFI”). ANR is an existing portfolio company of CORE Industrial Partners.

Star Mountain Capital, a rapidly growing, employee-owned specialized private investment firm focused on the lower middle-market with over $3 billion AUM announced that Stephen Faughnan, former Managing Director of Operations at Siguler Guff & Company, a $15+ billion AUM multi-strategy Private Equity, Private Credit and Secondary Investments Firm and former Vice President at Goldman Sachs Asset Management has joined as Managing Director of Finance & Operations

Olympia Sports, Antero Brands’ athletic footwear and apparel chain, has selected SB360 Capital Partners LLC (www.sb360.com), as their exclusive consultant to conduct “Going Out of Business” sales in their remaining 34 stores. Earlier this year, SB360 began a series of strategic “Store Closing” or “Total Inventory Blowout” events in select Olympia locations with the most recent group closed in August.