TSL Express Daily Articles & News

CIT, a division of First Citizens Bank, today announced that its Real Estate Finance business served as lead arranger on $53 million in financing for the acquisition of six industrial properties. The borrower, Aminim Group, acquired the portfolio of properties, which are located in the busy Baltimore-Washington D.C. area with easy access to major transportation corridors. The properties collectively encompass nearly 500,000 square feet of industrial space with strong lease agreements to existing tenants.

Thompson Street Capital Partners (“TSCP”), a private equity firm focused on investing in founder-led middle market businesses, today announced the closing of its sixth committed capital investment fund, Thompson Street Capital Partners VI LP (“TSCP VI” or the “Fund”).

Global business advisory firm EisnerAmper announced that the partners and colleagues of Minneapolis-based accounting and advisory firm Lurie LLP will be joining EisnerAmper in a transaction anticipated to close in September of 2022.

BofA Securities Inc. acted as lead left bookrunner, Goldman Sachs Lending Partners LLC, Morgan Stanley Senior Funding, Inc. and PNC Capital Markets LLC acted as joint bookrunners and BofA Securities Inc. acted as sole lead arranger. Bank of America, N.A. is the administrative agent and the collateral agent for the Credit Agreement.

Comerica Incorporated (NYSE: CMA) announced that Corey Bailey, Executive Vice President, Credit Risk Management & Decisioning, has been named to the new role of Executive Vice President, Head of Middle Market & Business Banking. Bailey will report to Peter Sefzik, Executive Vice President, Commercial Bank.

Exchange Bank (OTC: EXSR) welcomes Stacey Powers, VP, commercial relationship manager, to Exchange Bank’s Commercial Banking team reporting to Steve Herron, SVP, commercial banking manager. Stacey brings over 35 years of experience in the banking industry to her role at Exchange Bank, where her primary focus will be to drive new relationship growth throughout the North Bay and Sacramento County regions.

ADC Therapeutics SA (NYSE: ADCT) today announced that it has completed a series of strategic transactions in which it entered into a new $175 million senior secured term loan with certain funds of Owl Rock, a division of Blue Owl Capital, Inc. (“Owl Rock”), and funds managed by Oaktree Capital Management, L.P. (“Oaktree”) with an upfront tranche of $120 million received upon closing today. ​

Tiger Group sets August 23 online auction which includes 350 lots of digital cameras, lenses, heads, filters, monitors, transmitters/receivers, memory/readers and gear accessories.

Solifi™, a global fintech software partner for secured finance, announced the launch of its software-as-a-service (SaaS)-based lease and loan pricing solution for the U.S. equipment and automotive finance industries.

Katten's Insolvency and Restructuring practice was honored three times during the Global M&A Network's presentation of the 14th Annual Turnaround Atlas Awards, which are a celebration of excellence among "the best value-creating transactions, outstanding firms, professionals and leaders from the global restructuring, insolvency, and distressed investing communities."

Regis Corporation (NYSE: RGS), a leader in the haircare industry, announced today that it successfully amended its credit facility and extended the maturity date from March 23, 2023 to August 31, 2025. Under the amendment, the revolving credit facility was converted to a $180 million term loan and $55 million revolving credit facility with the minimum liquidity covenant reduced to $10 million from $75 million

CIT, a division of First Citizens Bank, today announced that Diana Jackson has joined its Equipment Finance-Industrial business as a vice president and national business development officer. In this role, Jackson will be responsible for developing and maintaining vendor programs with OEM’s and very large dealers in the construction, transportation, material handling and manufacturing sectors.

Texas Capital Bancshares, Inc. (NASDAQ: TCBI), the parent company of Texas Capital Bank (“the Bank”), today announced that Vivek Misra has been appointed to serve as Executive Vice President, Chief Compliance Officer, effective immediately.

atai Life Sciences N.V. (Nasdaq: ATAI) (“atai”), a clinical-stage biopharmaceutical company aiming to transform the treatment of mental health disorders, today announced that the company has entered into a term loan facility for up to $175 million with Hercules Capital, Inc. (NYSE: HTGC).

SAS AB shares jumped in Stockholm trading after the Scandinavian airline reached a key goal in its restructuring plan by obtaining a $700 million loan from U.S. private equity firm Apollo Global Management Inc.

HYPERAMS, LLC is pleased to announce the completion of the e-commerce liquidation sale of The Grommet. The liquidation, which was conducted entirely via the company’s website, was highly successful and generated significant cost recovery for the business’ ownership.

King & Spalding announced today that partner Jamie Dycus has joined the firm’s Trial and Global Disputes practice group in the New York office. Dycus represents financial institutions and other commercial clients in a variety of complex litigation, regulatory and enforcement matters.

The 2nd version of Don’s Clarke’s book, Asset Based Lending Disciplines, is available today. Donald Clarke is a world-renowned scholar and teacher on the disciplines of asset-based lending. This updated and well written book, covers all aspects of asset-based Lending and filled is with vital information that will help ABL professionals become efficient and effective in the ABL industry.

Against a background of higher raw material prices and delivery volumes, the Oryx Stainless Group is increasing its financial flexibility with a syndicated credit facility in the amount of 125 million Euros, replacing the existing facility at an early stage.

MVB Financial Corp. (“MVB,” “MVB Financial”) (Nasdaq: MVBF), the holding company for MVB Bank, Inc. (“MVB Bank”), announced today that it has entered into a definitive merger agreement pursuant to which MVB will acquire Integrated Financial Holdings, Inc. (“IFH”) (OTCQX: IFHI) in an all-stock transaction. Stephens, Inc. served as financial advisor and Squire Patton Boggs (US) LLP served as legal advisor to MVB. Raymond James & Associates, Inc. served as financial advisor and Wyrick Robbins Yates & Ponton LLP served as legal advisor to IFH.